PACIFICTEXTILES：ANNUALREPORT20232024.pdf

《PACIFICTEXTILES：ANNUALREPORT20232024.pdf》由會員分享，可在線閱讀，更多相關《PACIFICTEXTILES：ANNUALREPORT20232024.pdf（178頁珍藏版）》請在三個皮匠報告上搜索。

1、2023/24ANNUAL REPORT年報Corporate Information 公司資料2Chairmans Statement 主席報告書4Management Discussion and Analysis 管理層討論與分析6Profiles of Directors and Senior Management 董事及高級管理人員簡介17Directors Report 董事局報告23Corporate Governance Report 企業管治報告41Independent Auditors Report 獨立核數師報告59Financial Information 財務資料C

2、onsolidated Statement of Profit or Loss 綜合損益表64Consolidated Statement of Comprehensive Income 綜合全面收益表65Consolidated Balance Sheet 綜合資產負債表66Consolidated Statement of Changes in Equity 綜合權益變動表68Consolidated Statement of Cash Flows 綜合現金流量表69Notes to the Consolidated Financial Statements 綜合財務報表附註70Finan

3、cial Summary 財務概要172Schedule of Groups Properties 本集團物業一覽表173Glossary 專用詞彙175CONTENT 目錄Pacific Textiles Holdings Limited|2023/2024 Annual Report2CORPORATE INFORMATION公司資料董事局執行董事奧富勝先生（主席兼行政總裁）杜結威先生（首席財務總監兼公司秘書）福元究一先生非執行董事劉耀棠先生（於2023年6月1日退任）獨立非執行董事陳裕光博士伍清華先生施國榮先生凌致和女士審核委員會施國榮先生（主席）陳裕光博士伍清華先生凌致和女士薪酬委員會

4、陳裕光博士（主席）伍清華先生施國榮先生凌致和女士奧富勝先生福元究一先生提名委員會伍清華先生（主席）陳裕光博士施國榮先生凌致和女士奧富勝先生杜結威先生公司秘書杜結威先生主要往來銀行香港上海滙豐銀行有限公司恒生銀行有限公司中國銀行股份有限公司法國巴黎銀行香港分行三菱UFJ銀行渣打銀行（香港）有限公司星展銀行（香港）有限公司三井住友銀行香港分行BOARD OF DIRECTORSExecutive DirectorsMr.Masaru OKUTOMI(Chairman and Chief Executive Officer)Mr.TOU Kit Vai(Chief Financial Officer

5、 and Company Secretary)Mr.Kyuichi FUKUMOTONon-executive DirectorMr.LAU Yiu Tong(retired with effect from 1 June 2023)Independent Non-executive DirectorsDr.CHAN Yue Kwong,Michael Mr.NG Ching WahMr.SZE Kwok Wing,NigelMs.LING Chi Wo TeresaAUDIT COMMITTEEMr.SZE Kwok Wing,Nigel(Chairman)Dr.CHAN Yue Kwong

6、,Michael Mr.NG Ching WahMs.LING Chi Wo TeresaREMUNERATION COMMITTEEDr.CHAN Yue Kwong,Michael(Chairman)Mr.NG Ching WahMr.SZE Kwok Wing,NigelMs.LING Chi Wo TeresaMr.Masaru OKUTOMIMr.Kyuichi FUKUMOTONOMINATION COMMITTEEMr.NG Ching Wah(Chairman)Dr.CHAN Yue Kwong,Michael Mr.SZE Kwok Wing,NigelMs.LING Chi

7、 Wo TeresaMr.Masaru OKUTOMIMr.TOU Kit VaiCOMPANY SECRETARYMr.TOU Kit VaiPRINCIPAL BANKERSThe Hongkong and Shanghai Banking Corporation Limited Hang Seng Bank LimitedBank of China LimitedBNP Paribas,Hong Kong Branch MUFG Bank,Ltd.Standard Chartered Bank(Hong Kong)LimitedDBS Bank(Hong Kong)LimitedSumi

8、tomo Mitsui Banking Corporation,Hong Kong Branch 互太紡織控股有限公司|2023/2024 年報3CORPORATE INFORMATION公司資料AUDITORPricewaterhouseCoopersCertified Public Accountants and Registered Public Interest Entity AuditorREGISTERED OFFICEP.O.Box 309,Ugland House Grand Cayman,KY1-1104Cayman IslandsHEAD OFFICE AND PRINCI

9、PAL PLACE OF BUSINESS IN HONG KONGUnit B1,7/F.,Block B,Eastern Sea Industrial Building 4856 Tai Lin Pai Road,Kwai ChungNew Territories,Hong KongPRINCIPAL PLACE OF BUSINESS IN THE PRCLiu Chong Tong Xin County Wan Qing Sha TownNansha,Guangzhou City Guangdong Province,PRCPRINCIPAL PLACE OF BUSINESS IN

10、VIETNAMLai Vu Industrial Zone,Lai Vu Commune Kim Thanh DistrictHai Duong Province VietnamLot K1,Rang Dong Textile Industrial ParkRang Dong TownNghia Hung DistrictNam Dinh ProvinceVietnamPRINCIPAL SHARE REGISTRARSuntera(Cayman)LimitedSuite 3204,Unit 2A,Block 3,Building DP.O.Box 1586,Gardenia Court,Ca

11、mana Bay Grand Cayman,KY1-1100,Cayman IslandsHONG KONG BRANCH SHARE REGISTRARComputershare Hong Kong Investor Services Limited Shops 17121716,17/F.,Hopewell Centre183 Queens Road East Wanchai,Hong KongHONG KONG STOCK EXCHANGE STOCK CODE01382COMPANY WEBSITEwww.pacific-核數師羅兵咸永道會計師事務所香港執業會計師及註冊公眾利益實體核數

12、師註冊辦事處P.O.Box 309,Ugland HouseGrand Cayman,KY1-1104Cayman Islands總辦事處及香港主要 營業地點香港新界葵涌大連排道4856號東海工業大廈B座8樓B1室中國主要營業地點中國廣東省廣州市南沙萬頃沙鎮六涌同興村越南主要營業地點Lai Vu Industrial Zone,Lai Vu Commune Kim Thanh DistrictHai Duong Province VietnamLot K1,Rang Dong Textile Industrial ParkRang Dong TownNghia Hung DistrictNam

13、 Dinh ProvinceVietnam主要股份過戶登記處Suntera(Cayman)LimitedSuite 3204,Unit 2A,Block 3,Building DP.O.Box 1586,Gardenia Court,Camana BayGrand Cayman,KY1-1100,Cayman Islands股份過戶登記處香港分處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17121716號舖香港聯合交易所股份代號01382公司網址www.pacific-CHAIRMANS STATEMENT主席報告書Pacific Textiles Holdings Li

14、mited|2023/2024 Annual Report4各位股東本人謹代表董事局提呈本集團2024年財政年度之綜合財務業績，並概述本集團的策略及業務前景。財務及業務回顧於上一財政年度，公司業務表現備受紡織業需求萎縮和競爭激烈的影響。面對重重阻礙和挑戰，管理層堅毅不拔，從容應對困難。告別充滿動盪的2023年，業務也隨著經濟和市場氣氛的好轉而開始爬升。業務展望持續提升競爭優勢是本公司首要任務之一。我們將繼續加強並完善本集團的研究與開發（研發）能力。我們將調配更多營銷資源深耕國內業務，並探索用於汽車及其他領域的非服裝紡織品。我們相信，該等措施將有助加強本公司於不斷演變的商業環境下的適應能力，並有

15、助鞏固尤其番禺工廠的業務營運。鑑於本公司的目標是 藉獨特的紡織品帶來舒適和愉悅，我們將永遠保持創新，對產品和服務品質毫不妥協。我們的研發部門將致力提供更多類型的優質面料，滿足客戶需求。憑藉本集團於數位轉型方面的投資，組織透明度及協作已見改善?，F正繼續開展更多項目以加強數位化及自動化，旨在投資智能製造設備及綜合數據平臺。我們的目標是整合來自所有系統的數據，實時計算關鍵績效指標，其後並利用該等關鍵績效指標改進生產團隊的決策。自動化亦將取代部分人手工序以提升品質及效率。本人欣然向 閣下匯報，位於越南南定的新廠房已正式投產。對於採納全球化採購策略並首選把業務分散至東南亞的客戶而言，新廠房在向彼等提供額

16、外優質紡織品產能方面，擔當舉足輕重的角色。雖然該廠房僅僅新近投產並仍處起步階段，我們已接獲大批查詢，部分客戶亦已啟動與該新廠房協同的採購計劃。該廠房無疑將成為推動本集團自然增長的新引擎。Dear ShareholdersOn behalf of the Board,I hereby present the Groups consolidated financial results for the 2024 Financial Year and give an overview of the Groups strategy and business outlook.FINANCIAL AND B

17、USINESS REVIEWLast financial year,the Companys business performance was affected by the shrink in demand and the furious competition in the textile industry.Confronted with full of obstacles and challenges,the management were resilient in coping with the difficulties.As we left behind 2023,a year fu

18、ll of turbulence,business is starting to rise as economies and market sentiment have been improved.BUSINESS OUTLOOKPersistently sharpening our competitive edge is one of the Companys priorities.We will continue to strengthen and advance the Groups research and development(“R&D”)capability.We will al

19、locate more marketing resources to cultivate domestic business and to explore non-clothing textiles to be used in automobiles and others.We believe that these measures will boost the Companys adaptability in the changing business environment and contribute to stabilize the operation,particularly of

20、the Panyu Factory.Given the Companys objective“to provide comfort and joy through unique textiles”,we would always keep ourselves innovative and never compromise on the quality of our products and services.Our R&D function will work towards to offering more variety of high quality fabrics to satisfy

21、 customers need.The Groups investments in digital transformation have resulted in improved organizational transparency and collaboration.Additional projects to enhance digitalization and automation,with a view to investing in intelligent manufacturing equipment and a consolidated data platform,are o

22、ngoing.Our goal is to integrate data from all systems,calculate real-time KPIs,and then utilize these KPIs to improve our production teams decision-making.Automation would also increase quality and efficiency by replacing certain manual processes.I am pleased to share with you the joy of the opening

23、 of our new Vietnam factory in Nam Dinh.The new factory plays an important role to provide additional production capacity of premium textiles to customers who adopt global sourcing strategies with a preference on diversification to Southeast Asia.Although the factorys operation has just started as p

24、reliminary stage,we have received a lot of enquires and certain customers have kickstarted the procurement plan with the new factory.This plant should definitely be the new engine to drive organic growth of the Group.互太紡織控股有限公司|2023/2024 年報5CHAIRMANS STATEMENT主席報告書APPRECIATIONOn behalf of the Board,

25、I am pleased to express my sincere appreciation to our customers,business partners,suppliers,bankers,community members relevant to our production sites and other stakeholders for their continuous support to the Group during the year.I sincerely hope our employees will be able to develop their fruitf

26、ul career path together with the Group,realise their potential and enjoy their balanced life.I would also like to thank our shareholders for their continuous support and confidence in the Group during the past year.On behalf of the BoardMasaru OKUTOMIChairmanHong Kong,27 June 2024致謝本人謹代表董事局衷心感謝我們的客戶

27、、業務夥伴、供應商、往來銀行、我們生產基地的相關社區成員以及其他持份者年內對本集團的持續支持。本人誠摯希望，員工上下能與本集團攜手開展成果豐碩的事業生涯、盡展所長並享受均衡生活。本人亦藉此機會感謝股東過去一年對本集團的恆久支持及信任。代表董事局主席奧富勝香港，2024年6月27日MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析Pacific Textiles Holdings Limited|2023/2024 Annual Report6概覽業務及財務回顧互太紡織控股有限公司及其附屬公司主要從事紡織產品（包括優質全棉及化纖針織布）之製造及貿易。收入於回顧年

28、度，本集團之收入約為4,665.2百萬港元（2023年：約5,018.7百萬港元），較截至2023年3月31日止年度減少7.0%，乃由於銷量增加2.1%及平均售價減少8.9%的綜合影響所致。不同地區銷售貨品產生的收入（根據產品交付地點釐定）載於本報告第93頁本公司財務資料附註5。其他收入包含（其中包括）出售廢棄物料及公共設施收入，載於本報告第136頁本公司財務資料附註22。銷售成本本集團之銷售成本約為4,241.6百萬港元（2023年：約4,528.7百萬港元），較截至2023年3月31日止年度減少6.3%，與收入減少一致。溢利於回顧年度，本公司權益持有人應佔溢利約為167.1百萬港元（202

29、3年：約268.6百萬港元），較上一年度減少37.8%。溢利倒退乃主要由於多項因素所致，包括但不限於：(i)較高的利息開支淨額約34.3百萬港元；(ii)越南新廠房建立階段產生的前期經營虧損約34.8百萬港元；及(iii)本公司投資Teejay產生的減值虧損約64.2百萬港元。倘剔除減值虧損約64.2百萬港元，則相當於溢利減少約26.6%。OVERVIEWBUSINESS AND FINANCIAL REVIEWPacific Textiles Holdings Limited and its subsidiaries are principally engaged in manufactur

30、ing and trading of textiles products,including high quality cotton and synthetic knitted fabrics.RevenueDuring the year under review,revenue of the Group was approximately HK$4,665.2 million(2023:approximately HK$5,018.7 million)representing a decrease of 7.0%as compared with the year ended 31 March

31、 2023,as a result of the combined effect of an increase of 2.1%in sales volume and a decrease of 8.9%in average sales price.Revenue generated from sales of goods from different geographical locations(as determined by where the products were delivered to)is set out in note 5 to the financial informat

32、ion of the Company on page 93.Other incomes comprising,among others,sales of scrap materials and utilities income are set out in note 22 to the financial information of the Company on page 136.Cost of salesCost of sales of the Group was approximately HK$4,241.6 million(2023:approximately HK$4,528.7

33、million)representing a decrease of 6.3%as compared with the year ended 31 March 2023 which is consistent with decrease in revenue.ProfitDuring the year under review,profit attributable to equity holders of the Company was approximately HK$167.1 million(2023:approximately HK$268.6 million)representin

34、g a decrease of 37.8%as compared with last year.The downturn was mainly due to various factors,including but not limited to:(i)higher net interest expenses of approximately HK$34.3 million;(ii)preliminary operating loss incurred in the setting up stage of the new Vietnam factory of approximately HK$

35、34.8 million;and(iii)an impairment loss arising from the Companys investment in Teejay of approximately HK$64.2 million.If the impairment loss of approximately HK$64.2 million was excluded,it represents a decrease of approximately 26.6%in profit.互太紡織控股有限公司|2023/2024 年報7MANAGEMENT DISCUSSION AND ANAL

36、YSIS管理層討論與分析概覽（續）業務及財務回顧（續）分銷及銷售開支於回顧年度，銷售及分銷開支（包括應收賬款減值虧損）增加至43.2百萬港元（2023年：41.1百萬港元）。行政開支行政開支增加至194.3百萬港元（2023年：162.1百萬港元），增加主要由於建立越南新廠房而產生前期經營開支約28.6百萬港元所致。財務成本財務成本增加約20.5%至60.5百萬港元（2023年：50.2百萬港元），主要由於銀行貸款利息開支增加所致。應收賬款及應付賬款周轉天數應收賬款周轉天數為61日，而應付賬款周轉天數為54日。所得稅於回顧年度，本集團錄得所得稅開支約30.4百萬港元（2023年：43.5百萬港

37、元）。於回顧年度，本集團之平均實際稅率為約15.0%，較截至2023年3月31日止年度（2023年：13.7%）為高。實際稅率增加乃主要由於與截至2023年3月31日止年度比較，(i)分佔聯營公司之溢利減少；及(ii)本公司投資Teejay Lanka PLC產生減值虧損，從而導致除所得稅前溢利減少所致。於聯營公司之減值本公司於其聯營公司Teejay之投資之減值虧損乃根據該等權益之可收回金額釐定，按其使用價值與公允值減處置成本（公允值減處置成本）之較高者列賬。於編製截至2023年3月31日止年度及截至2023年9月30日止中期期間之財務報表期間，分別錄得減值虧損46.6百萬港元及10.0百萬港

38、元。於過往評估期間，Teejay的使用價值被評估為高於其公允值減處置成本。OVERVIEW(Contd)BUSINESS AND FINANCIAL REVIEW(Contd)Distribution and selling expensesDuring the year under review,selling and distribution expenses including impairment loss on trade receivables increased to HK$43.2 million(2023:HK$41.1 million).Administration exp

39、ensesThe administration expenses increased to HK$194.3 million(2023:HK$162.1 million),the increase was mainly due to the preliminary operating expense incurred in setting up of new Vietnam factory of approximately HK$28.6 million.Finance costsFinance costs increased by approximately 20.5%to HK$60.5

40、million(2023:HK$50.2 million)mainly due to increase in interest expenses on bank loans.Trade receivables and trade payables turnover daysTrade receivables turnover days was 61 days while trade payables turnover days was 54 days.Income taxThe Group recorded an income tax expense of approximately HK$3

41、0.4 million during the year under review(2023:HK$43.5 million).The average effective tax rate of the Group during the year under review was approximately 15.0%which was higher than the year ended 31 March 2023(2023:13.7%).The increase in effective tax rate was mainly attributed to the decrease in pr

42、ofit before income tax resulted from(i)the decrease in share of profits of associates;and(ii)an impairment loss arising from the Companys investment in Teejay Lanka PLC compared with the year ended 31 March 2023.Impairment in associate companyThe impairment loss of the Companys investment in its ass

43、ociate Teejay was determined based on the recoverable amount of such interests,which was stated at the higher of its value-in-use and fair value less cost of disposal(“FVLCOD”).During the preparation of the financial statement for the year ended 31 March 2023 and for the interim period ended 30 Sept

44、ember 2023,impairment loss amounted to HK$46.6 million and HK$10.0 million were recorded respectively.During the previous assessments,the value-in-use of Teejay were assessed to be higher than its FVLCOD.Pacific Textiles Holdings Limited|2023/2024 Annual Report8MANAGEMENT DISCUSSION AND ANALYSIS管理層討

45、論與分析概覽（續）業務及財務回顧（續）於聯營公司之減值（續）然而，由於主要客戶的銷售訂單意外減少，Teejay於2024財政年度下半年的財務表現遜於管理層的預期。管理層已調整五年預測，導致聯營公司之使用價值較其公允值減處置成本為低。管理層經參考Teejyay之上市價乘以本公司於年結日持有之股份數目計算公允值減處置成本。於編製日期為2024年5月24日的盈利警告公告（前公告）時，本公司管理層已對Teejay的上市股價應用20%折讓，即於公開市場出售相關股權的估計價格折讓。該折讓乃參考Teejay年內股價之最低及最高交易股價之差價38%而估計。於前公告後及在落實其對Teejay可收回金額的評估時，

46、本公司管理層已開展更多市場研究，並認為相對於在公開市場出售，假設向機構投資者出售該大筆股權更為合理。因此，經計及額外市場資料（主要包括重大影響力溢價）而進一步調整公允值。本集團持有上市公司Teejay約28%股權及委任董事之權利。因此，約12.5%之重大影響力溢價已加入估算公允值的過程之中，這反映對Teejay行使重大影響力之特權。重大影響力溢價乃參考過去5年於亞太地區經營的紡織行業公司的相似資本市場交易釐定。由於所用假設及參數的變動，於Teejay權益的可收回金額及減值虧損已作相應修訂並於綜合財務報表附註9披露。OVERVIEW(Contd)BUSINESS AND FINANCIAL RE

47、VIEW(Contd)Impairment in associate company(Contd)However,the financial performance of Teejay in the second half of FY24 was worse than managements expectation due to unanticipated drop in sales orders from its major customers.Management has adjusted the 5-years forecast which resulted in a lower val

48、ue-in-use of the associate company when compare to its FVLCOD.Management calculated the FVLCOD with reference to the listed price of Teejyay multiplied by the number of shares held by the Company as at year ended date.In preparation of the profit warning announcement dated 24 May 2024(the“Former Ann

49、ouncement”),the Companys management has applied a 20%discount to the listed share price of Teejay which represented the estimated price discount to sell the relevant equity shareholdings in the public market.The discount was estimated with reference to the spread of Teejays share price during the ye

50、ar which was 38%between the lowest and the highest share price transacted.Subsequent to the Former Announcement and in finalizing its assessment on the recoverable amount of Teejay,the Companys management has performed more market research and considered that instead of selling in public market,it w

51、as more reasonable to assume selling this large block of shareholding to an institutional investor.Accordingly,the fair value was further adjusted by taking into account of additional market information,which mainly included the significant influence premium.The Group holds approximately 28%equity i

52、nterest in Teejay,a listed company,and the right to appoint a director.Accordingly,a significant influence premium of approximately 12.5%was added to the estimated fair value which reflected the privilege in the ability of exercising significant influence over Teejay.The significant influence premiu

53、m was determined with reference to similar capital market transactions of companies in the textile industry which were operating in the Asia Pacific area in the last 5 years.As a result of the change in the assumption and parameters used,the recoverable amount of the interest in Teejay and the impai

54、rment loss were revised and disclosed in note 9 of the consolidated financial statements accordingly.互太紡織控股有限公司|2023/2024 年報9MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析OVERVIEW(Contd)BUSINESS AND FINANCIAL REVIEW(Contd)AssetsAs at 31 March 2024,the total assets of the Group were HK$5,566.0 million(20

55、23:HK$5,529.3 million)representing an increase of approximately 0.7%.The total assets comprised non-current assets of HK$2,816.6 million(2023:HK$2,296.1 million)and current assets of HK$2,749.3 million(2023:HK$3,233.2 million).Key financial ratios are set out below:For the year ended 31 March截至3月31日

56、止年度202420232024年2023年Gross Profit Margin(1)毛利率(1)9.1%9.8%Return on Equity(2)權益回報率(2)5.8%8.9%Interest Coverage Ratio(3)利息覆蓋比率(3)4.07.7Notes:(1)The calculation of Gross Profit Margin is based on gross profit divided by revenue and multiplied by 100%.(2)The calculation of Return on Equity is based on p

57、rofit for the year divided by total equity and multiplied by 100%.(3)The calculation of Interest Coverage Ratio is based on profit before interest expenses on bank loans and tax expenses divided by interest expenses on bank loans.概覽（續）業務及財務回顧（續）資產於2024年3月31日，本集團之資產總值為5,566.0百萬港元（2023年：5,529.3百萬港元），增

58、加約0.7%。資產總值包括非流動資產2,816.6百萬港元（2023年：2,296.1百萬港元）及流動資產2,749.3百萬港元（2023年：3,233.2百萬港元）。關鍵財務比率載列如下：附註：(1)毛利率乃按毛利除以收入再乘以100%計算。(2)權益回報率乃按年內溢利除以權益總額再乘以100%計算。(3)利息覆蓋比率乃按銀行貸款利息開支及稅項開支前溢利除以銀行貸款利息開支計算。Pacific Textiles Holdings Limited|2023/2024 Annual Report10MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析概覽（續）業務

59、及財務回顧（續）資金流動性與財務資源及資本架構於2024年3月31日，本集團之淨負債水平（現金及銀行結餘連同定期存款減借貸總額）為585.7百萬港元（2023年：淨負債水平為99.4百萬港元）。淨負債水平增加乃由於第二個越南廠房的建設項目正如期進行，而需收購物業、廠房及設備所致。本集團之主要營運資金來源為銷售其產品產生的現金，配以銀行借貸以及我們的合營企業夥伴向一家越南附屬公司提供的股東貸款。於2024年3月31日，本集團擁有現金及銀行結餘總額894.9百萬港元（2023年：1,347.5百萬港元），當中包括27.2百萬港元、相等於735.9百萬港元之美元、相等於122.8百萬港元之人民幣、相

60、等於8.6百萬港元之越南盾及相等於0.4百萬港元之其他貨幣?，F金及銀行結餘連同定期存款為本集團之營運資金及資本開支計劃提供資金來源。本集團擁有銀行貸款1,354.5百萬港元（2023年：1,320.3百萬港元）及由我們的合營企業夥伴向一家越南附屬公司提供的股東貸款126.2百萬港元（2023年：126.6百萬港元）。所述股東貸款為權益性質，毋須於一年內償還。本集團並無就銀行借貸抵押其任何資產（2023年：無）。截至2024年3月31日止年度，本集團資產總值為5,566.0百萬港元（2023年：5,529.3百萬港元），增加0.7%。非流動資產及流動資產分別為2,816.6百萬港元及2,749.

61、3百萬港元。上述資產由流動負債2,248.1百萬港元、非流動負債351.4百萬港元及股東應佔權益2,954.3百萬港元提供融資。OVERVIEW(Contd)BUSINESS AND FINANCIAL REVIEW(Contd)Liquidity and financial resources and capital structureAs at 31 March 2024,the Group was in a net debt position(cash and bank balances and time deposits less total borrowings)of HK$585.

62、7 million(2023:net debt position of HK$99.4 million).The increase in a net debt position was due to acquisition of property,plant and equipment as the construction project of second Vietnam production site is on schedule.The Groups principal source of working capital was cash generated from sales of

63、 its products,supplemented with bank borrowings and a shareholders loan contributed by our joint venture partner for a Vietnam subsidiary.As at 31 March 2024,the Group had total cash and bank balances of HK$894.9 million(2023:HK$1,347.5 million)comprising of HK$27.2 million,the equivalent of HK$735.

64、9 million denominated in US$,the equivalent of HK$122.8 million denominated in RMB,the equivalent of HK$8.6 million denominated in VND and the equivalent of HK$0.4 million denominated in other currencies.The cash and bank balances and time deposits were to finance the Groups working capital and capi

65、tal expenditure plans.The Group had bank loans of HK$1,354.5 million(2023:HK$1,320.3 million)and shareholders loan of HK$126.2 million(2023:HK$126.6 million)contributed by our joint venture partner to a Vietnam subsidiary.The said shareholders loan was of equity nature and was not repayable within o

66、ne year.The Group did not pledge any of its assets for bank borrowing(2023:Nil).For the year ended 31 March 2024,the Groups total assets amounted to HK$5,566.0 million(2023:HK$5,529.3 million)representing an increase of 0.7%.Non-current assets and current assets were HK$2,816.6 million and HK$2,749.

67、3 million respectively.The above assets were financed by current liabilities of HK$2,248.1 million,non-current liabilities of HK$351.4 million and equity attributable to Shareholders of HK$2,954.3 million.互太紡織控股有限公司|2023/2024 年報11MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析概覽（續）業務及財務回顧（續）資本開支及資本承擔本集團一

68、直採取謹慎的措施，並根據市場的需求而微調資本開支。於回顧年度，本集團錄得資本開支總額增加178.0%至1,012.9百萬港元（2023年：364.3百萬港元），主要由於第二個越南廠房的建設項目，金額約為838.0百萬港元。使用權資產以及物業、廠房及設備的詳情載於本年報第97頁至第103頁。資本承擔的詳情載於本年報第148頁的本公司財務資料附註31。主要流動資金或槓桿比率：附註：(4)流動比率乃按流動資產除以流動負債計算。(5)速動比率乃按流動資產減存貨除以流動負債計算。(6)資本負債比率乃按借貸總額及應付票據除以權益總額再乘以100%計算。(7)負債權益比率乃按負債總額除以權益總額再乘以100

69、%計算。OVERVIEW(Contd)BUSINESS AND FINANCIAL REVIEW(Contd)Capital expenditure and capital commitmentThe Group had been adopting cautious measures and fine-tuned its capital expenditure in response to the market demand.During the year under review,total capital expenditure increased by 178.0%to HK$1,012

70、.9 million(2023:HK$364.3 million)which was mainly due to the construction project of second Vietnam factory in the amount of approximately HK$838.0 million.Details on the right-of-use assets,property,plant and equipment are set out on pages 97 to 103 of this annual report.Details of capital commitme

71、nts are set out in note 31 to the financial information of the Company on page 148 of this annual report.Key liquidity or leverage ratios:As at 31 March3月31日202420232024年2023年Current Ratio(4)流動比率(4)1.21.5Quick Ratio(5)速動比率(5)0.81.0Gearing Ratio(6)資本負債比率(6)50.2%47.0%Debt to Equity Ratio(7)負債權益比率(7)87

72、.6%79.0%Notes:(4)The calculation of Current Ratio is based on current assets divided by current liabilities.(5)The calculation of Quick Ratio is based on current assets minus inventories divided by current liabilities.(6)The calculation of Gearing Ratio is based on total borrowings and bills payable

73、 divided by total equity multiplied by 100%.(7)The calculation of Debt to Equity Ratio is based on total liabilities divided by total equity multiplied by 100%.Pacific Textiles Holdings Limited|2023/2024 Annual Report12MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析概覽（續）業務及財務回顧（續）外匯及利率風險管理本集團一直面對多種貨幣之外匯風

74、險，主要涉及美元、人民幣及越南盾。本集團通過定期檢討及監察以管理外匯風險。本集團於適時採用對沖措施以降低若干風險。本集團主要於香港、中國、澳門及越南營運。除了若干現金及銀行結餘與若干內部公司應收款項以外幣計算，交易通常以各集團實體之功能貨幣進行。董事認為已確認資產與負債所產生之外幣風險極小。本集團一直採用遠期外匯合約對沖其部分外匯風險。該等遠期外匯合約不符合採用對沖會計法入賬，而按公允值計入損益。租賃承擔租賃承擔的詳情載於本年報第148頁。資產抵押於2023年3月31日及2024年3月31日，並無為獲得融資抵押資產。分部資料分部資料之詳情載於第93頁本公司財務資料附註5。重大收購及出售附屬公司

75、、聯營公司及合營企業截至2024年3月31日止年度，本集團並無作出有關本公司之附屬公司、聯營公司及合營企業之重大收購或出售事項?；蛴胸搨?024年3月31日，本集團並無重大或有負債（2023年：無）。期後事項於2024年3月31日後及截至本報告日期，本公司或本集團並無進行任何重大事項。OVERVIEW(Contd)BUSINESS AND FINANCIAL REVIEW(Contd)Risk Management on Foreign Exchange and Interest ExposureThe Group had been exposed to foreign exchange r

76、isk arising from various currency exposures with respect to the US Dollars,Renminbi and Vietnamese Dongs primarily.The Group managed its foreign exchange risks by performing regular review and monitoring its foreign exchange exposures.The Group would hedge against certain of its exposures in order t

77、o reduce the risk involved as appropriate.The Group mainly operated in Hong Kong,PRC,Macau and Vietnam.Except for certain cash and bank balances and certain inter-company receivables denominated in foreign currencies,transactions were generally conducted in a functional currency of the respective gr

78、oup entity.The foreign currency risk arising from recognised assets and liabilities was considered by the Directors to be minimal.The Group had been using forward foreign currency contracts to hedge part of its foreign exchange risk.These forward foreign currency contracts did not qualify for hedge

79、accounting and were accounted for at fair value through profit or loss.Lease CommitmentsDetails of the lease commitments are set out on page 148 of this annual report.Pledge of AssetsNo assets were pledged to obtain financing as at 31 March 2023 and 31 March 2024 respectively.Segmental InformationDe

80、tails of segmental information are set out in note 5 to the financial information of the Company on page 93.Material Acquisitions and Disposals of Subsidiaries,Associates and Joint VenturesThere was no material acquisition or disposal of the Companys subsidiaries,associates and joint ventures during

81、 the year ended 31 March 2024.Contingent LiabilitiesAs at 31 March 2024,the Group had no material contingent liabilities(2023:Nil).Events Subsequent to the PeriodThere was no significant event undertaken by the Company or by the Group after 31 March 2024 and up to the date of this report.互太紡織控股有限公司|

82、2023/2024 年報13MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析ENVIRONMENTAL AND SOCIAL REPORTINGThe Group has been sparing no effort in the investment of environmental protection,energy consumption and reduction of wastage,and the achievements were well recognised.During the year under review,the Companys

83、 subsidiary in Panyu had received the following awards:Graded as an Environmental Integrity Enterprise(Green Label Enterprise)by Guangzhou Municipal Ecological Environment Bureau in May 2023#.Awarded with“Certificate of Merit(Manufacturing and Industrial Services)”in the 2022 Hong Kong Awards for En

84、vironmental Excellence(HKAEE)in December 2023#.Awarded as“20222023 Advanced Enterprise in Energy Efficiency(Water Efficiency)Benchmarking in the Textile Industry of Guangdong Province”by Guangdong Textile Association in December 2023#.PRODUCT RESEARCH AND DEVELOPMENTDuring the year under review,the

85、Company contributed to develop innovative products to meet the market needs.The Company has received multiple awards for its new products including:A fluffy 3D fabric with high elasticity was awarded as the“2023 Excellent Fabric(First Prize)in Chinas Dyeing and Printing Industry”by China Dyeing and

86、Printing Association(“CDPA”)in July 2023#.A super-smooth and skin-friendly imitation cotton fabric was awarded as the“2023 Excellent Fabric(Second Prize)in Chinas Dyeing and Printing Industry”by CDPA in July 2023#.A smooth and skin-fitting pearlescent fabric for underwear was certificated as the“Chi

87、na Knitting Products Fashion Trends 2023/2024 Technologically Innovative Product(Recommendation)”by China Knitting Industrial Association(“CKIA”)in August 2023#.A smooth-to-skin superfine velvet and imitation cotton fabric without silicone oil was certificated as the“China Knitting Products Fashion

88、Trends 2023/2024 Comfortable Product(Recommendation)”by CKIA in August 2023#.A natural cooling fabric with UV protection was certificated as the“China Knitting Products Fashion Trends 2023/2024 Multi-functional Product(Recommendation)”by CKIA in August 2023#.The Companys subsidiary in Panyu was sele

89、cted as the“Textile and Apparel Brand Competitiveness Enterprises of China in 2023”by the China National Textile and Apparel Council in May 2023#.The Companys subsidiary in Panyu was awarded the certificate of“Fabrics China Appraisal Entry Enterprise Outstanding Products”by China Textile Information

90、 Center and Textile Product Development Center in February 2024#.#The English translated version is for reference only.If there is any inconsistency between the Chinese and English versions,the Chinese version shall prevail.環境及社會報告本集團一直不遺餘力地投資於環保、能源消耗及減少浪費，其成績已獲得認可。於回顧年度，本公司於番禺之附屬公司榮獲以下獎項：於2023年5月獲廣

91、州市生態環境局評為環保誠信企業（綠牌企業）#。於2023年12月獲2022香港環境卓越大獎優異獎（製造業及工業服務）#。於 2023 年 12 月 獲 廣 東 省 紡 織 協 會 評 為20222023年度廣東省紡織行業能效（水效）對標工作先進企業 稱號#。產品研發於回顧年度，本公司投入開發創新產品以迎合市場需要。本公司新產品榮獲多個獎項，例如：於2023年7月，一種蓬鬆立體彈力面料獲中國印染行業協會（CDPA）評為 2023年度中國印染行業優秀面料一等獎#。於2023年7月，一種超柔滑仿棉親膚面料獲中國印染行業協會評為 2023年度中國印染行業優秀面料二等獎#。於 2023 年 8 月，一

92、種 柔 滑 貼 膚 珠 光 內 衣面料獲中國針織工業協會（CKIA）授予2023/2024中國針織產品流行趨勢之科技創新產品推薦 證書#。於2023年8月，一種超細絨無矽油仿棉柔膚面料獲中國針織工業協會授予 2023/2024中國針織產品流行趨勢之舒適性產品推薦 證書#。於2023年8月，一種防紫外線天然涼感面料獲中國針織工業協會授予 2023/2024中國針織產品流行趨勢之多功能性產品推薦 證書#。於2023年5月，本公司的番禺附屬公司獲中國紡織工業聯合會選為 2023中國紡織服裝品牌競爭力優勢企業#。於2024年2月，本公司的番禺附屬公司獲中國紡織信息中心及紡織產品開發中心頒發 中國流行面

93、料入圍企業之優秀獎產品 證書#。#本英譯內容僅供參考。如中英文內容文意不相符，應以中文為準。Pacific Textiles Holdings Limited|2023/2024 Annual Report14MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析EMPLOYEES AND REMUNERATION POLICIESAs at 31 March 2024,the Group had 4,874 full-time employees(2023:4,484).There was no significant change in the Groups

94、remuneration policy.The Groups remuneration package for its employees included salary,bonuses,allowances and retirement benefits based on the performance,skills and knowledge of each employee.The Group also provided additional benefits to its employees,for instance,subsidized accommodation and meals

95、 for those working in production facilities,accident and medical insurance,etc.The Group will continue to provide regular trainings and competitive remuneration package to employees in order to enhance their incentive and motivation to work.DIVIDENDSThe Board proposed to pay a final dividend of HK5

96、cents(2023:HK4 cents)per share for the 2024 Financial Year,subject to the approval of the Shareholders at the forthcoming AGM.Together with an interim dividend of HK7 cents(2023:HK15 cents)per share,the total dividend for the 2024 Financial Year amounted to HK12 cents(2023:HK19 cents)per share.PROSP

97、ECT AND OUTLOOKThe financial year ended 31 March 2024 showed a drop in profit attributable to shareholders.The fierce competition continued in the textile industry and customers demand was weak.There were more factors which caused the downturn,inter alia,higher net interest expenses,preliminary oper

98、ating loss incurred in the setting up stage of the new Vietnam factory,and the impairment loss relating to Teejay(an associate of the Company).After a year of high interest rate in major currencies,the management expects that the average interest rate and net interest expenses of the Group for the c

99、oming financial year will drop as certain existing banking facilities will be replaced by lower cost facilities in 2024/25,and there will be slight downward adjustments on the interest rate of major currencies.The share of the results of and the impairment loss relating to Teejay is non-cash in natu

100、re,and will not have any impact on the Companys cashflow and operation.The Company is confident in the outlook of Teejay and believes in the continuous recovery of Sri Lankas economy and the business prospect of Teejay.The impairment loss for the coming financial year,if any,is estimated to be immat

101、erial.僱員及薪酬政策於2024年3月31日，本集團僱用4,874名全職僱員（2023年：4,484名）。本集團薪酬政策並無重大變動。本集團僱員薪酬待遇包括薪金、花紅、津貼及退休福利，其乃根據各僱員表現、技能及知識釐定。本集團亦向僱員提供額外福利，如向駐生產設施之僱員提供食宿津貼、意外及醫療保險等。本集團將持續向僱員提供定期培訓及具競爭性之薪酬待遇以提升其工作動力及積極性。股息董事局建議就2024年財政年度派發末期股息每股港幣5仙（2023年：港幣4仙），惟須待股東於應屆股東週年大會上批準。連同中期股息每股港幣7仙（2023年：港幣15仙），2024年財政年度的股息總額為每股港幣12仙（2

102、023年：港幣19仙）。前景及展望我們於截至2024年3月31日止財政年度的股東應佔溢利錄得下跌，不僅是由於紡織業持續出現激烈競爭及客戶需求疲弱，亦歸咎於更多其他因素，當中包括較高的利息開支淨額、新設越南廠房於籌組階段所產生的初步經營虧損，以及攤分本公司聯營公司Teejay相關減值虧損。過去一年多種主要貨幣的利率持續高企，惟由於本集團部分現有銀行融資將於2024/25年度被成本較低的信貸融資所取代，加上主要貨幣利率將輕微向下調整，故管理層預期下財政年度本集團的平均利率及利息支出淨額將有所下降。我們攤分Teejay業績及其相關減值虧損均為非現金性質，並不會為本公司現金流及營運帶來任何影響。本公司

103、對Teejay的前景充滿信心，亦相信斯里蘭卡經濟與Teejay的業務前景可繼續邁向復甦及改善。我們估計即使下一財政年度仍錄得減值虧損，數額亦微不足道?；ヌ徔椏毓捎邢薰緗2023/2024 年報15MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析PROSPECT AND OUTLOOK(Contd)Some of our key customers had cleared their accumulated stock,resulting in rising demand.The issues of low utilization rate of Pany

104、u Factory during the financial year has been eased from March 2024 and is on the rise in financial year of 2024/25.As orders to be placed with Panyu Factory by respective brand owners are expected to increase,the management is optimistic on gradual improvement in the financial performance of the Pan

105、yu Factory.As to the operation in South-east Asia region,the Groups factory in Hai Doung Province of Vietnam,has been operating at close to full capacity level and the management believes that the trend shall continue in 2024/25.It is with great delight that the Groups new factory in Nam Dinh Provin

106、ce of Vietnam,has started its pilot production in April 2024,and is scheduled to launch full scale production in the second half of financial year ending 31 March 2025.This new factory will sharpen the Groups competitiveness.It will not only increase the overall production capacity of the Group,but

107、also strengthen the Groups capability in providing new products and services.During the time of preparation,the management has made detailed planning on the role and capabilities of this new factory for both short-term and long-term development of the Group.With an additional factory in Vietnam,the

108、Group will be in a better position to cope with the changing market environment.The Groups three factories will each play different roles in business development and cater for customers need of different groups.The management of the Group would be able to adopt more cost-effective strategies based o

109、n multi-site operation through economies of scales.The management believes that as a result of the surge in production capacity and more flexible resources deployment,satisfying customers increasing demands for new products,the revenue and the profit attributable to equity holders of the Company wil

110、l show an upturn in 2024/25.Our vision“to make the world a more comfortable and better place through our products”is reflected in our environmental,social and governance goals.During the year,the Company continued to implement its sustainability strategy and adopted measures to enhance its long-term

111、 sustainability goals.In order to increase the level of renewable energy usage,our Panyu Factory has kicked off a solar energy project.We will further expand the renewable energy project to the Groups factory in Hai Doung Province,Vietnam.Please refer to the Companys Report on Environmental,Social a

112、nd Governance for the Reporting Period for details of the Groups sustainability efforts.前景及展望（續）我們部分主要客戶已完成清理積壓的存貨，因而令需求有所提升。本財政年度內番禺工廠設備利用率偏低的問題，由2024年3月起已有所緩和，並於2024/25財政年度呈上升態勢。由於各品牌擁有人向番禺工廠下達的訂單預計會增加，管理層對番禺工廠的財務業績逐步改善持樂觀態度。至於東南亞地區的業務，本集團位於越南海陽省的廠房一直以接近產能上限的水平運作，而管理層相信，此趨勢將於2024/25年度持續。我們欣悉本集團位於越

113、南南定省的新廠房已於2024年4月開始試產，並計劃於截至2025年3月31日止財政年度下半年全面投產。此新廠房勢將令本集團在競爭上如虎添翼，不僅可提高本集團的總體產能，亦會加強本集團提供新產品及服務的能力?；I建期間，管理層已對新廠房的角色和能力作詳細規劃，以促進本集團的短線和長線發展。隨著我們在越南增設一家新廠房後，本集團將更具備條件應對瞬息萬變的市場環境。本集團旗下三家廠房將於業務發展方面發揮不同效用，各自滿足不同客戶群的需要?？抠囈幠＝洕б?，本集團管理層將能夠採納基於跨地域營運並更具成本效益的策略。管理層相信，憑藉顯著提升產能及更靈活調配資源，滿足客戶對新產品持續增加的需求，我們的收入及

114、本公司權益持有人應佔溢利將於2024/25年度有所攀升。我們的願景 藉產品締造更舒適美好的世界 體現於我們的環境、社會及管治目標。本公司本年度繼續實施其可持續發展戰略，並採取措施促進長遠可持續發展的目標。為提升可再生能源利用水平，番禺工廠已啟動一項太陽能計劃。我們將會進一步擴大再生能源計劃，使之擴展至本集團的越南海陽省廠房。有關本集團致力於可持續發展的工作詳情，請參閱本公司於報告期間的環境、社會及管治報告。Pacific Textiles Holdings Limited|2023/2024 Annual Report16MANAGEMENT DISCUSSION AND ANALYSIS管理

115、層討論與分析前景及展望（續）短期而言，地緣政治形勢、通貨膨脹、利息開支及客戶採購政策等將仍滿佈挑戰。儘管如此，管理層依然會堅持本身策略，藉由開發創意洋溢及富於創新的產品以刺激需求，通過滲透新市場使商品組合更為多元化，採取審慎財務政策及資金管理方式，以及借助資源重新調配及精簡生產流程以降低成本。管理層預期2024/25財政年度的銷售額及盈利均會反彈，隨後相信會進入中期增長的軌跡。PROSPECT AND OUTLOOK(Contd)Geopolitics,inflation,interest expenses,and customers sourcing policies will remain

116、 challenging in short term.Nevertheless,the management will persistently adopt our strategies in boosting demand by developing creative and innovating products,diversifying merchandise portfolio through penetrating into new markets,adopting prudent financial policies and treasury management,and cutt

117、ing cost by redeployment of resources and streamlining production process.The management is expecting a rebounce in sales and profitability in Financial Year of 2024/25,followed by a mid-term growth trajectory.PROFILES OF DIRECTORS AND SENIOR MANAGEMENT 董事及高級管理人員簡介互太紡織控股有限公司|2023/2024 年報17執行董事奧富勝先生，

118、66歲，於2019年7月1日加入本集團，出任執行董事及董事局副主席。自2021年10月1日起，奧富先生由董事局副主席調任為董事局主席兼本集團行政總裁。奧富先生繼續擔任執行董事、薪酬委員會成員及提名委員會成員。此外，奧富先生為本集團多間附屬公司之董事及本集團聯營公司Teejay Lanka Plc.（其股份於斯里蘭卡科倫坡證券交易所上市）之非執行董事。奧富先生負責領導管理團隊，監督本集團整體生產及營運，提供企業指示及制定本集團業務策略。奧富先生於1981年取得一橋大學法律學士學位，於畢業後加入Toray商品銷售部門（紡織品）。Toray為一間於東京證券交易所上市的公司，亦為本公司之一名主要股東。

119、彼亦曾擔任多個高級職位，包括於2016年5月至2019年6月30日出任東麗（華南）有限公司及東麗（香港）有限公司之董事總經理及於2016年5月至2019年6月30日出任東麗（中國）投資有限公司之副董事總經理，彼亦獲授予Toray常任理事之職銜。奧富先生於紡織業務方面擁有豐富的管理經驗。杜結威先生，61歲，於2013年加入本集團並於2014年4月1日成為本集團首席財務總監。彼自2017年7月1日起獲委任為本公司執行董事及自2022年8月12日起獲委任為本公司公司秘書。杜先生自2022年10月1日起出任本公司提名委員會成員。此外，彼為本集團多間附屬公司之董事及本集團聯營公司Teejay Lanka

120、 Plc.（其股份於斯里蘭卡科倫坡證券交易所上市）之非執行董事。杜先生於工廠運營、財務管理、項目管理及ERP系統方面擁有豐富經驗。彼負責監督企業財務管理、資訊科技、集團行政與人力資源以及後勤支援職能。杜先生為香港會計師公會及特許公認會計師公會資深會員。彼於2007年至2012年期間於一間聯交所上市之公司擔任執行董事。EXECUTIVE DIRECTORSMr.Masaru OKUTOMI,aged 66,joined the Group on 1 July 2019 as executive Director and the Vice Chairman of the Board.With ef

121、fect from 1 October 2021,Mr.Okutomi was re-designated from the Vice Chairman of the Board to the Chairman of the Board and the Chief Executive Officer of the Group.Mr.Okutomi continues to serve as an executive Director,a member of the Remuneration Committee and a member of the Nomination Committee.M

122、oreover,Mr.Okutomi is a director of various subsidiaries of the Group and a non-executive director of Teejay Lanka Plc.,an associated company of the Group,whose shares are listed on the Colombo Stock Exchange in Sri Lanka.Mr.Okutomi is responsible to lead the management team and oversee the overall

123、production and operation of the Group,providing corporate directions and formulating business strategies of the Group.Mr.Okutomi holds a bachelors degree in law from Hitotsubashi University in 1981 and after his graduation,he joined the merchandise sales department(textiles)of Toray.Toray is a compa

124、ny listed on the Tokyo Stock Exchange and is a substantial shareholder of the Company.He also held various senior positions including the managing director of Toray Industries(South China)Co.,Ltd.and Toray Industries(H.K.)Ltd.from May 2016 to 30 June 2019,and the deputy managing director of Toray In

125、dustries(China)Co.,Ltd.from May 2016 to 30 June 2019,and has been given the title as senior director in Toray.Mr.Okutomi has extensive experience in management of textiles business.Mr.TOU Kit Vai,aged 61,joined the Group in 2013 and became Chief Financial Officer of the Group on 1 April 2014.He has

126、been appointed as an executive Director of the Company from 1 July 2017 and the Company Secretary of the Company from 12 August 2022.Mr.Tou has been a member of Nomination Committee of the Company since 1 October 2022.Moreover,he is a director of various subsidiaries of the Group and a non-executive

127、 director of Teejay Lanka Plc.,an associated company of the Group,whose shares are listed on the Colombo Stock Exchange in Sri Lanka.Mr.Tou has extensive experience in factory operations,financial management,project management and ERP system.He is responsible for overseeing the corporate financial m

128、anagement,information technology,group administration and human resources,and back office operations.Mr.Tou is a fellow member of The Hong Kong Institute of Certified Public Accountants and The Association of Chartered Certified Accountants.He was an executive director of a company listed on the Sto

129、ck Exchange during the period from 2007 to 2012.Pacific Textiles Holdings Limited|2023/2024 Annual Report18PROFILES OF DIRECTORS AND SENIOR MANAGEMENT 董事及高級管理人員簡介執行董事（續）福元究一先生，53歲，於2022年2月加入本集團出任執行董事。福元先生自2022年10月1日起出任本公司薪酬委員會成員。此外，彼為本集團多間附屬公司之董事。福元先生負責本集團之財務預算控制及設立主要績效指標以達成企業目標。福元先生現正主導於越南建設新廠房的項目。

130、福元先生1995年畢業於東京大學法學院，並自1995年起獲聘於Toray Industries,Inc.。Toray為一間於東京證券交易所上市的公司，亦為本公司之一名主要股東。加入本集團之前，彼於2017年5月至2019年3月期間為Toray纖維及紡織品策略業務規劃部高級職員，及於2019年4月至2021年底擔任該部門之助理總經理。福元先生在紡織業擁有豐富經驗。獨立非執行董事陳裕光博士，72歲，自2007年起獲委任為本公司獨立非執行董事。陳博士自2007年起擔任薪酬委員會之主席、審核委員會及提名委員會之成員。彼於1984年加入香港上市公司大家樂集團有限公司，曾任該公司主席，現擔任非執行董事，於

131、策劃及管理工作方面擁有豐富經驗。陳博士自1993年起出任星光集團有限公司之獨立非執行董事，自2010年起出任謝瑞麟珠寶（國際）有限公司之獨立非執行董事，自2015年及2016年起先後出任現代牙科集團有限公司及盈健醫療集團有限公司之獨立非執行董事及自2007年起出任稻香控股有限公司之非執行董事，上述公司均於聯交所主板上市。陳博士持有加拿大曼尼托巴大學(University of Manitoba)文學學士學位及城市規劃碩士學位，更獲頒授工商管理榮譽博士學位及榮膺嶺南大學之榮譽院士殊榮。彼現為優質旅遊服務協會顧問及香港市務學會榮譽主席。陳博士曾擔任香港管理專業協會企業管理發展中心主席，亦曾經為香港

132、理工大學管理及市場學系顧問委員會成員。EXECUTIVE DIRECTORS(Contd)Mr.Kyuichi FUKUMOTO,aged 53,joined the Group in February 2022 as an executive Director.Mr.Fukumoto has been a member of Remuneration Committee of the Company since 1 October 2022.Moreover,he is a director of various subsidiaries of the Group.Mr.Fukumoto i

133、s responsible for the Groups budgetary control and setting up of key performance indicators for fulfilling corporate goal and targets.Mr.Fukumoto is leading the project of setting up a new factory in Vietnam.Mr.Fukumoto graduated from the faculty of law in Tokyo University in 1995 and has been an em

134、ployee of Toray Industries,Inc.since 1995.Toray is a company listed on the Tokyo Stock Exchange and is a substantial shareholder of the Company.Prior to joining the Group,he was a senior staff of the Fibers&Textiles Strategic Business Planning Department of Toray from May 2017 to March 2019 and was

135、an Assistant General Manager of the said Department since April 2019 to end of 2021.Mr.Fukumoto has extensive experience in the textiles industry.INDEPENDENT NON-EXECUTIVE DIRECTORSDr.CHAN Yue Kwong,Michael,aged 72,has been appointed as an Independent Non-executive Director of the Company since 2007

136、.Dr.Chan has been the Chairman of the Remuneration Committee,a member of the Audit Committee and a member of the Nomination Committee since 2007.He was the former chairman and is currently the non-executive director of Cafe de Coral Holdings Limited,a Hong Kong listed company which he joined in 1984

137、,and has considerable experience in planning and management.Dr.Chan has also been an independent non-executive director of Starlite Holdings Limited since 1993,Tse Sui Luen Jewellery(International)Limited since 2010,Modern Dental Group Limited since 2015 and Human Health Holdings Limited since 2016,

138、and a non-executive director of Tao Heung Holdings Limited since 2007,the abovementioned companies are listed on the Main Board of the Stock Exchange.Dr.Chan holds a Bachelor of Arts,a Master degree in City Planning from the University of Manitoba,Canada,an Honorary Doctorate Degree in Business Admi

139、nistration and is also bestowed as Honorary Fellow from Lingnan University.He is currently the adviser of the Quality Tourism Services Association,the Honorary Chairman of the Hong Kong Institute of Marketing.Dr.Chan was the former chairman of Business Enterprise Management Centre of The Hong Kong M

140、anagement Association and was also a member of the advisory committee of the department of management and marketing of the Hong Kong Polytechnic University.互太紡織控股有限公司|2023/2024 年報19PROFILES OF DIRECTORS AND SENIOR MANAGEMENT 董事及高級管理人員簡介獨立非執行董事（續）伍清華先生，75歲，自2007年起獲委任為本公司獨立非執行董事。伍先生自2007年起擔任提名委員會之主席、審

141、核委員會及薪酬委員會之成員。伍先生於電訊業擁有逾35年資深管理經驗。伍先生曾出任泰國上市公司Advanced Info Service Public Company Limited之董事兼執行委員會成員。彼曾出任紐約證券交易所上市公司中華數字電視控股有限公司之獨立董事及香港上市公司香港通訊國際控股有限公司之非執行董事。彼曾出任香港流動通訊有限公司行政總裁、香港上市公司數碼通電訊集團有限公司行政總裁及PCCW Mobility Services Limited總裁。伍先生曾擔任香港通訊業聯會榮譽顧問。伍先生曾擔任數碼21資訊科技策略諮詢委員會(D21SAC)委員及曾獲委任為於2012年4月根據

142、通訊事務管理局條例 成立之獨立法定機構通訊事務管理局之成員。伍先生於1975年畢業於香港中文大學，獲頒工商管理學學士學位。施國榮先生，67歲，自2007年起獲委任為本公司獨立非執行董事。施先生自2007年起擔任審核委員會之主席、提名委員會及薪酬委員會之成員。施先生於私人及投資銀行業擁有資深管理經驗，服務高資產淨值之客戶及機構。施先生自2019年2月27日起出任偉工控股有限公司之獨立非執行董事，該公司於聯交所主板上市。施先生曾任瑞士寶盛銀行有限公司中國和香港區之董事總經理和主管；瑞士盈豐資產管理（香港）有限公司亞太區行政總裁；Citi Wealth Management亞太區董事總經理與投資部主

143、管；Barclays Wealth亞太區行政總裁與香港摩根士丹利亞洲有限公司私人客戶部執行董事。施先生持有澳洲紐卡素大學(University of Newcastle)頒授之商學碩士學位，並為澳洲註冊會計師公會資深會員。INDEPENDENT NON-EXECUTIVE DIRECTORS(Contd)Mr.NG Ching Wah,aged 75,has been appointed as an Independent Non-executive Director of the Company since 2007.Mr.Ng has been the Chairman of Nomina

144、tion Committee,a member of the Audit Committee and a member of the Remuneration Committee since 2007.Mr.Ng has over 35 years of senior management experience in the telecommunications industry.Mr.Ng was a director and a member of the executive committee for Advanced Info Service Public Company Limite

145、d,a Thailand listed company.He was an independent director of China Digital TV Holding Co.Ltd.,a New York Stock Exchange listed company and a non-executive director of HKC International Holdings Limited,a Hong Kong listed company.He was the chief executive officer of Hong Kong CSL Limited.He was the

146、 chief executive officer of SmarTone Telecommunications Holdings Limited,a Hong Kong listed company and the President of PCCW Mobility Services Limited.Mr.Ng was the Honorary Advisor of the Communications Association of Hong Kong.Mr.Ng was a member of the Digital 21 Strategy Advisory Committee(D21SA

147、C)and an appointed member of Communications Authority,an independent statutory body established under the Communications Authority Ordinance in April 2012.Mr.Ng graduated from the Chinese University of Hong Kong in 1975,with a Bachelor of Business and Administration.Mr.SZE Kwok Wing,Nigel,aged 67,ha

148、s been appointed as an Independent Non-executive Director of the Company since 2007.Mr.Sze has been the Chairman of Audit Committee,a member of the Nomination Committee and a member of the Remuneration Committee since 2007.Mr.Sze has senior management experience in the private and investment banking

149、 industry serving high net worth clients and institutions.Mr.Sze is an independent non-executive director of Wecon Holdings Limited since 27 February 2019,which a company listed on the Main Board of the Stock Exchange.He was the managing director,head of China and Hong Kong of Julius Baer Bank;the c

150、hief executive officer of EFG Asset Management(Hong Kong)Limited for Asia Pacific Region;the managing director,head of investment of Citi Wealth Management for Asia Pacific region;the chief executive officer of Asia Pacific for Barclays Wealth and an executive director in the private clients divisio

151、n at Morgan Stanley Asia Limited,Hong Kong.Mr.Sze holds a Master of Business from the University of Newcastle,Australia.He is a Fellow of CPA Australia.Pacific Textiles Holdings Limited|2023/2024 Annual Report20PROFILES OF DIRECTORS AND SENIOR MANAGEMENT 董事及高級管理人員簡介INDEPENDENT NON-EXECUTIVE DIRECTOR

152、S(Contd)Ms.LING Chi Wo Teresa,aged 65,has been appointed as an Independent Non-executive Director of the Company since 1 March 2023.Ms.Ling has also been a member of each of the Audit Committee,the Nomination Committee and the Remuneration Committee since 1 March 2023.Ms.Ling possess ample years of

153、experience in business management.She has been working for Newtimes group of companies,a privately held apparel development and sourcing group with its headquarter in Hong Kong,for over 30 years.She became the director of Newtimes(HK)Limited since 2014.In addition,Ms.Ling is currently a director of

154、Ling Charitable Foundation Limited.Ms.Ling holds a Bachelor of Arts Degree in Psychology from University of California,Berkeley.She also obtained a Master of Business Administration Degree from California State University,East Bay.SENIOR MANAGEMENTMr.GAO Jinhua,aged 58,is the Chief Operating Officer

155、(Vietnam)and a director of some of the subsidiaries of the Company who has worked for the Group for more than 20 years and is experienced in operational and production management.Prior to taking up the current position,Mr.Gao has been the General Manager of the Production Department.Mr.Gao graduated

156、 from Shanghai Normal University,major in Chemistry in 1988.Mr.ZHAO Qizhi,aged 58,is the Chief Operating Officer(PRC)and a director of a subsidiary of the Company who joined the Group in 1997 and has over 25 years of experience in the textiles industry.He is responsible for managing the engineering

157、department of the factories.Mr.Zhao holds a Bachelors Degree in Mechanical Engineering from Shanghai Jiaotong University,China.Mr.LAI Chi Man,aged 58,is the Chief Marketing Officer and a director of some of the subsidiaries of the Company who joined the Group in 1998 and has over 25 years of experie

158、nce in the textiles industry.Mr.Lai holds a Bachelor of Arts Degree in Textile and Clothing Marketing from The Hong Kong Polytechnic University.He also obtained a Master of Business Administration Degree(The Kellogg HKUST EMBA Program)awarded by Northwestern University and The Hong Kong University o

159、f Science and Technology jointly.Mr.TSANG Sian Chung,Hubert,aged 47,is the Chief Information Officer and a director of some of the subsidiaries of the Company.Mr.Tsang joined the Group in 2010 and now leads the Groups digitalization initiatives.Mr.Tsang has over 25 years of experience in the IT fiel

160、d,ranging from performing academic research on high performance computing to building large scale internet websites to building and maintaining enterprise shared services.Mr.Tsang holds an MBA degree and Bachelor of Computer Science,both from the University of Maryland,College Park.獨立非執行董事（續）凌致和女士，6

161、5歲，自2023年3月1日起獲委任為本公司獨立非執行董事。凌女士亦自2023年3月1日起擔任審核委員會、提名委員會及薪酬委員會各自之成員。凌女士在企業管理方面擁有豐富的經驗。彼於新旭集團公司工作超過30年，該集團為私人擁有之服裝開發及採購集團，其總部設於香港。彼自2014年起出任新旭貿易（香港）有限公司之董事。此外，凌女士現任凌天慈善基金有限公司之董事。凌女士持有加州大學伯克萊分校心理學文學士學位。彼亦取得加州州立大學東灣分校的工商管理碩士學位。高級管理人員高金華先生，58歲，首席營運總監（越南）及本公司若干附屬公司之董事，於本集團任職逾20年，在營運及生產管理方面富有經驗。履任現時職位前，高

162、先生為生產部總經理。高先生於1988年畢業於上海師範大學化學系。趙奇志先生，58歲，首席營運總監（中國）及本公司一間附屬公司之董事，於1997年加入本集團，在紡織業擁有逾25年經驗。他負責管理各廠房之工程部門。趙先生持有中國上海交通大學頒授之機械工程學學士學位。黎志文先生，58歲，首席營銷總監及本公司若干附屬公司之董事，於1998年加入本集團，在紡織業擁有逾25年經驗。黎先生持有香港理工大學紡織和服裝營銷文學士學位。彼亦獲西北大學(Northwestern University)與香港科技大學共同頒授之工商管理碩士（凱洛格商學院與香港科技大學合辦之行政人員工商管理碩士課程）學位。曾憲中先生，4

163、7歲，資訊總監及本公司若干附屬公司之董事。曾先生於2010年加入本集團，現時主管本集團之數碼化方針。曾先生在資訊科技領域擁有逾25年經驗，當中包括高性能計算學術研究及搭建大型網站及建立和維護企業共享服務系統。曾先生持有馬里蘭大學旗艦校區(University of Maryland,College Park)頒發之工商管理碩士及電腦科學學士學位?；ヌ徔椏毓捎邢薰緗2023/2024 年報21PROFILES OF DIRECTORS AND SENIOR MANAGEMENT 董事及高級管理人員簡介SENIOR MANAGEMENT(Contd)Mr.Mitsuru KAWABATA,ag

164、ed 64,is the General Manager(HR&Administration)who joined the Group in 2020.Mr.Kawabata holds a Bachelor of Laws Degree from Doshisha University.Upon his graduation from Doshisha University,Mr.Kawabata joined Toray in 1984.He has extensive business development experiences in fibres,fabrics,and garme

165、nt as well as general management experience.Prior to joining the Group,he was the managing director of Toray Ultrasuede Marketing,Inc.a subsidiary of Toray.Mr.Masanari MURAKAMI,aged 55,is the General Manager(Research&Development Division)who joined the Group in 2021.Upon his graduation from Faculty

166、of Law,Kobe University in 1991,Mr.Murakami joined Toray.Mr.Murakami has worked as a knit textile salesman over 15 years in Japan and Hong Kong.Prior to joining the Group,he was a director of Toray Industries(H.K.)Ltd.and was responsible for textiles business and garment business.Mr.Hiroyuki MATSUDA,

167、aged 57,is the General Manager(Engineering)who joined the Group in 2020.Mr.Matsuda is responsible for managing the engineering department of the factories in China.Mr.Matsuda holds a Master Degree from Graduate School of Letters of Kansai University,Japan.Prior to joining the Group,he was a manager

168、of Toray Industries,Inc.and has extensive experience in the management of machinery,plant and equipment of factories.Mr.CHUNG Chi Shing,aged 60,is the Assistant General Manager(Research&Development Division Inno-Tech Department&Material)and a director of a subsidiary of the Company who joined the Gr

169、oup in 1998 and has been serving for 26 years.He is responsible for dyeing and finishing technology,fabric development,procurement of yarns,dyes and chemicals(DCA).Mr.Chung graduated from The Hong Kong Polytechnic University in Textile Chemistry,with over 30 years of experience in textiles industry.

170、He is a holder of Chartered Colourist granted by the Society of Dyers and Colourists.Mr.WANG Sijie,aged 53,is the General Manager(Production)and a director of a subsidiary of the Company who joined the Group in 1997.Mr.Wang is responsible for the production and related production technology,and qual

171、ity management of Panyu Factory.Mr.Wang graduated from the Hunan University,major in chemistry in 1994.Mr.Wang is a professorate senior engineer and a holder of master degree.He is a member of the 11th expert technical committee of Knitting Industry(針織工業十一屆專家技術委員會委員),a specialized journal in the fie

172、ld of knitting industry.Mr.Wang was awarded as outstanding chief engineer by China Knitting Industries Association and technical innovation award by China Textile Engineering Society.高級管理人員（續）川端充先生，64歲，總經理（人力資源及行政），於2020年加入本集團。川端先生持有同志社大學法律學士學位。從同志社大學畢業後，川端先生於1984年加入Toray。彼在纖維、面料和服裝方面擁有豐富的業務開發經驗以及綜合

173、管理經驗。加入本集團前，彼為Toray附屬公司Toray Ultrasuede Marketing,Inc.之董事總經理。村上征成先生，55歲，總經理（產品研發中心），於2021年加入本集團。於1991年從神戶大學法學院畢業後，村上先生加入了Toray。村上先生曾於日本及香港擔任針織紡織品營業員超過15年。加入本集團前，彼為東麗（香港）有限公司之董事，負責紡織業務及服裝業務。松田博之先生，57歲，總經理（工程），於2020年加入本集團。松田先生負責管理中國廠房的工程部門。松田先生持有日本關西大學文學研究科碩士學位。加入本集團前，彼為Toray Industries,Inc.的經理，並在廠房機器

174、、廠房及設備管理方面擁有豐富的經驗。鍾志成先生，60歲，副總經理（產品研發中心創新技術部及物料）及本公司一間附屬公司之董事，於1998年加入本集團，至今服務本公司26年。彼負責染整技術、布料研發以及紗線、染料及化學品採購(DCA)。鍾先生畢業於香港理工大學紡織化學學系，在紡織業擁有逾30年經驗。彼持有英國染色家學會(Society of Dyers and Colourists)之特許公認印染師資格。王思捷先生，53歲，總經理（生產）及本公司一間附屬公司之董事，於1997年加入本集團。王先生負責生產及相關生產技術、及番禺工廠的質量管理。王先生於1994年畢業於湖南大學化工工藝專業，為一名正高級

175、工程師，持有碩士學位。彼為針織工業領域的專業期刊 針織工業 十一屆專家技術委員會委員。王先生曾獲中國針織工業協會評為優秀總工程師及獲中國紡織工程學會頒發 技術創新獎。Pacific Textiles Holdings Limited|2023/2024 Annual Report22PROFILES OF DIRECTORS AND SENIOR MANAGEMENT 董事及高級管理人員簡介SENIOR MANAGEMENT(Contd)Mr.Hidetoshi SUZUKI,aged 56,is the General Manager(Research&Development Divisio

176、n)and he joined the Group as General Manager(Research and Development)in 2021.Mr.Suzuki has over 30 years of experience in textiles and related production technology development.Upon his graduation with a Bachelors Degree of Engineering from Yamagata University,he started his career in textiles indu

177、stry with Toray in 1990.Prior to joining the Company,he has extensive experience and had worked in laboratories in Japan,China,and USA respectively,such as Du Pont-Toray Co.,Ltd.,Toray Fiber Research Center(China)and DuPont de Nemours,Inc.(USA).Mr.LAU Tak Ho Kevin,aged 50,is the Assistant General Ma

178、nager(Finance,Human Resources Management&Administration)and a director of a subsidiary of the Company who joined the Company in 2013.Mr.Lau is mainly responsible for group finance,human resources,administration,procurement management in Hong Kong and Mainland China.Mr.Lau graduated with Engineering(

179、Hons.)and MBA degree in Development&Industrialisation from the University of Liverpool in the United Kingdom and a Postgraduate Certificate in Professional Accounting from the City University of Hong Kong.He is a fellow member of Institute of Public Accountants in Australia.Prior to joining the Grou

180、p,he had worked in an international accounting firm and various listed companies.He has extensive working experiences in finance,cost control,human resources&administration and procurement management.Mr.CHAN Kam Yuen,aged 56,is the Assistant General Manager(Sales)who joined the Group in 1998 and has

181、 been serving for 26 years.Mr.Chan graduated from The Hong Kong Polytechnic University with a Higher Diploma in Textile Chemistry,with over 30 years of experience in textiles industry.Mr.CHENG Wai Keung,aged 60,is the Assistant General Manager(Operations in Vietnam)who joined the Group in 2018.Mr.Ch

182、eng is responsible for human resources,administration and procurement management in Vietnam.Mr.Cheng holds a Bachelor of Arts Degree from Laurentian University in Canada.He has extensive experience in human resources,administration and procurement management.Mr.Tomohisa FUKUNARI,aged 51,is the Gener

183、al Manager(Engineering)who joined the Group in 2021.Mr.Fukunari is responsible for managing the engineering department of a new factory in Vietnam.Mr.Fukunari holds a Bachelors Degree in Engineering of Kagoshima University,Japan.Prior to joining the Group,he was a senior staff of Toray Industries,In

184、c.and has extensive experience in construction management and the management of machinery,plant and equipment of factories.Mr.Jiro TABATA,aged 57,is the Deputy General Director of a subsidiary in Vietnam who joined the Group in 2023.Mr.Tabata is responsible for overseeing the operations of a new fac

185、tory in Vietnam.Upon his graduation with a Bachelors Degree of Engineering from University of Fukui,he started his career with Toray in 1992.Prior to joining the Group,he was a manager at Strategy Development Office,Global Operations Department of Toray Industries,Inc.and has over 30 years of experi

186、ence in textiles and related production technology development.高級管理人員（續）鈴木英俊先生，56歲，總經理（產品研發中心），於2021年加入本集團，當時出任總經理（產品研發）。鈴木先生在紡織及相關生產技術開發方面擁有超過30年經驗。從山形大學畢業並取得工程學學士學位後，鈴木先生於1990年加入了Toray開展其紡織事業。加入本公司前，彼擁有豐富經驗，曾先後在Du Pont-Toray Co.,Ltd.,Toray Fiber Research Center(China)及DuPont de Nemours,Inc.(USA)等日

187、中美三地各大實驗室任職。劉德浩先生，50歲，副總經理（財務、人力資源管理及行政）及本公司一間附屬公司之董事，於2013年加入本公司。劉先生主要負責本集團財務、人力資源、行政及香港與中國內地的採購管理。劉先生畢業於英國利物浦大學，並取得工程學學士（榮譽）及工商管理（工業化及發展）碩士學位，亦自香港城市大學取得專業會計學深造證書。劉先生亦為澳洲公共會計師協會之資深會員。於加入本集團前，劉先生曾於一間國際會計師事務所及多間上市公司工作。彼在財務、成本控制、人力資源及行政、及採購管理等界別擁有豐富工作經驗。陳錦源先生，56歲，副總經理（銷售），於1998年加入本集團，至今服務本公司26年。陳先生畢業於

188、香港理工大學並獲頒紡織化學高級文憑，在紡織業擁有逾30年經驗。鄭偉強先生，60歲，副總經理（越南營運），於2018年加入本集團。鄭先生主要負責越南的人力資源、行政及採購管理。鄭先生持有加拿大勞倫森大學文學士學位。彼在人力資源、行政及採購管理等界別擁有豐富經驗。福成智久先生，51歲，總經理（工程），於2021年加入本集團。福成先生負責管理越南新廠房的工程部門。福成先生持有日本鹿兒島大學工程學士學位。加入本集團前，彼為Toray Industries,Inc.的高級職員，並在工程管理及機器、廠房及工廠設備管理方面擁有豐富的經驗。田畑次郎先生，57歲，於越南之附屬公司之副總監，於2023年加入本集團

189、。田畑先生負責監督越南新廠房的營運。從福井大學畢業並取得工程學學士學位後，彼於1992年加入Toray開展其事業。加入本集團前，彼擔任Toray Industries,Inc.國際營運部門戰略拓展辦公室之經理並在紡織及相關生產技術開發方面擁有超過30年經驗。DIRECTORS REPORT董事局報告互太紡織控股有限公司|2023/2024 年報23The Board is pleased to present the annual report together with the audited consolidated financial statements of the Group fo

190、r the 2024 Financial Year.PRINCIPAL ACTIVITIESThe Group is principally engaged in manufacturing and trading of textiles products,including high quality cotton and synthetic knitted fabrics.An analysis of the performance of the Group for the 2024 Financial Year by geographical locations of business o

191、perations is set out in note 5 to the consolidated financial statements.BUSINESS REVIEWA review of the Group during the year and discussions on its future developments are provided in the section headed“Management Discussion and Analysis”in this annual report.PRINCIPAL RISKS AND UNCERTAINTIESThe Gro

192、ups financial condition,results of operations,business and prospects might be affected by a number of risks and uncertainties.The followings were the key risks and uncertainties identified by the Group for the 2024 Financial Year.There might be other risks and/or uncertainties in addition to those o

193、utlined below which were unknown to the Group or which might not be material during the year under review but will turn out to be material in the future.Business RiskThe macro-economic and political factors,such as US-China tensions,posed uncertainty to the business of the Group.Global economic unce

194、rtainty,inflation,fluctuating exchange rate in RMB,USD and VND,and drop of demand for garment and textiles were also the factors that adversely affected the financial performance of the Group.Strategic Direction RiskThe success of future business depends on the achievement of our strategic objective

195、s including but not limited to acquisitions,joint ventures,disposals and/or restructurings.The Group faced risk in its application of assets and capital towards potential investments when business and investment opportunities had arisen.Legal and Compliance RiskLegal risk might be constituted due to

196、 unenforceable contracts,lawsuits or unfavourable judgements which disrupted or negatively affected the business operations or financial conditions of the Group.Failing to oblige by relevant applicable laws and regulations might constitute compliance risk.The Group might suffer from financial losses

197、 or losses in reputation due to any possible legal risk or regulatory sanctions.董事局欣然提呈本集團2024年財政年度之年報連同經審核綜合財務報表。主要業務本集團主要從事優質全棉及化纖針織布等紡織產品之製造及貿易。本集團按商業營運之地區劃分的2024年財政年度之表現分析載於綜合財務報表附註5。業務回顧本集團年內回顧及其未來發展之討論載於本年報 管理層討論與分析 一節。主要風險及不明朗因素本集團的財務狀況、經營業績、業務及前景可能受多項風險及不明朗因素影響。本集團識別到2024年財政年度的主要風險及不明朗因素載列如下

198、。除下文所概述者外，亦可能存在本集團並不知悉或於回顧期內未必屬重大但日後可能變成重大的其他風險及或不明朗因素。業務風險中美緊張局勢等宏觀經濟及政治局勢，對本集團業務構成不明朗因素。全球經濟不穩定、通脹、人民幣、美元及越南盾匯率波動及服裝及紡織品的需求下降等因素，亦對本集團財務表現構成不利影響。策略方針風險我們未來業務的成功取決於策略目標的達致，包括但不限於收購、合營公司、出售及或重組。本集團於出現業務及投資機會時動用資產及資金作適合投資時，會面臨風險。法律及合規風險不可執行合約、訴訟或不利判決可能造成法律風險，其可能使本集團之業務營運或財務狀況出現混亂或負面影響。未有遵守相關適用法例及規例可能

199、造成合規風險。本集團可能因任何潛在法律風險或監管機構制裁而蒙受財務損失或聲譽受損。Pacific Textiles Holdings Limited|2023/2024 Annual Report24DIRECTORS REPORT董事局報告業務回顧（續）主要風險及不明朗因素（續）政策風險本集團業務經營所在國家的政府政策及規例作出的變更（如修訂環境保護政策等），可能導致須調整生產方式或為符合該等法定標準而導致成本增加。附屬公司本公司附屬公司於2024年3月31日之主要業務詳情載於綜合財務報表附註8。業績及股息本集團之2024年財政年度業績載於本報告第64頁綜合損益表。本公司已於2023年12月

200、20日向股東派發中期股息每股港幣7仙（2023年：港幣15仙）。董事局已建議派發末期股息每股港幣5仙（2023年：港幣4仙）。待股東於應屆股東週年大會上批準後，末期股息港幣5仙將於2024年9月5日派付予於2024年8月26日名列於本公司股東名冊之股東。董事局有意持續為股東帶來長期回報。於決定是否建議派發股息及釐定股息金額時，董事局會考慮多項因素，例如營運之財務業績、本集團之整體財務狀況、未來資金需求、業務營運及發展、整體市況、全體股東利益、法律規定以及董事局認為相關之其他情況。暫停辦理股份過戶登記本公司將由2024年8月12日至2024年8月15日（首尾兩天包括在內）暫停辦理股份過戶登記手續

201、，以便釐定股東出席應屆股東週年大會的權利並於會上投票之資格，期間將不會辦理本公司股份過戶登記。為符合出席應屆股東週年大會之資格，股東最遲須於2024年8月9日下午4時30分前將所有過戶文件連同有關股票交回本公司之股份過戶登記處香港分處香港中央證券登記有限公司，地址為香港灣仔皇后大道東183號合和中心17樓17121716號舖。釐定股東投票權的記錄日期為2024年8月12日。BUSINESS REVIEW(Contd)PRINCIPAL RISKS AND UNCERTAINTIES(Contd)Policy riskThe change in governmental policies and

202、 regulations in the countries in which the Group operated,such as amended environmental protection policies,might result in adjustment to production method or increase in cost in fulfilling those statutory standards.SUBSIDIARIESDetails of principal activities of the Companys subsidiaries at 31 March

203、 2024 are set out in note 8 to the consolidated financial statements.RESULTS AND DIVIDENDSThe results of the Group for the 2024 Financial Year are set out in the consolidated statement of profit or loss on page 64 of this report.An interim dividend of HK7 cents(2023:HK15 cents)per Share was paid on

204、20 December 2023 to the Shareholders.The Board has recommended the payment of a final dividend of HK5 cents(2023:HK4 cents)per Share.Subject to the approval of the Shareholders at the forthcoming AGM,the final dividend of HK5 cents will be paid on 5 September 2024 to the Shareholders whose names app

205、ear on the Register of Members of the Company on 26 August 2024.The Board intends to maintain long term return for shareholders.In deciding whether to propose a dividend and in determining the dividend amount,the Board shall take into consideration of various factors,such as the financial results of

206、 the operation,general financial condition of the Group,future funding requirements on capital,business operations and development,general market conditions,interest of shareholders as a whole,legal requirements,and other conditions that the Board deems relevant.CLOSURE OF REGISTER OF MEMBERSThe Reg

207、ister of the Members of the Company will be closed from 12 August 2024 to 15 August 2024(both days inclusive)for the purpose of determining the identity of members who are entitled to attend and vote at the forthcoming AGM,during which period no transfer of shares of the Company will be registered.I

208、n order to qualify for attending the forthcoming AGM,all transfers accompanied by the relevant share certificates must be lodged with the Companys Hong Kong Branch Share Registrar,Computershare Hong Kong Investor Services Limited at Shops 17121716,17/F.,Hopewell Centre,183 Queens Road East,Wanchai,H

209、ong Kong not later than 4:30 p.m.on 9 August 2024.The record date which determines the Shareholders voting right is scheduled on 12 August 2024.互太紡織控股有限公司|2023/2024 年報25DIRECTORS REPORT董事局報告暫停辦理股份過戶登記（續）本公司將由2024年8月22日至2024年8月26日（首尾兩天包括在內）暫停辦理股份過戶登記手續，以便釐定股東有權獲派發截至2024年3月31日止年度之末期股息之資格，期間將不會辦理本公司股份過

210、戶登記。為符合獲派發末期股息之資格，股東最遲須於2024年8月21日下午4時30分前將所有過戶文件連同有關股票交回本公司股份過戶登記處香港分處之香港中央證券登記有限公司，地址為香港灣仔皇后大道東183號合和中心17樓17121716號舖。股本本公司已發行股本於2024年財政年度期間之變動詳情載於綜合財務報表附註16。儲備本集團儲備於2024年財政年度期間之變動詳情載於綜合財務報表附註17?？晒┓峙蓛潇?024年3月31日，本公司之可供分派儲備總額約為2,005百萬港元（2023年：1,939百萬港元），包括本公司股份溢價、以股份為基準儲備及保留溢利。根據開曼群島公司法（經修訂）（第22章），

211、除本公司之保留溢利外，本公司之股份溢價和資本儲備亦可向股東分派，惟於緊隨建議進行任何上述分派當日之後，本公司必須仍有能力償還在日常業務中到期支付之欠款。優先認購權本公司之章程細則或本公司註冊成立地點開曼群島之法例並無關於優先認購權之規定，要求本公司須按比例向現有股東發行新股。管理合約本公司於2024年財政年度期間並無就整體業務或任何重要業務之管理及行政工作簽訂或存有任何合約。CLOSURE OF REGISTER OF MEMBERS(Contd)The Register of the Members of the Company will be closed from 22 August 2

212、024 to 26 August 2024(both days inclusive)for the purpose of determining the identity of members who are entitled to the final dividend for the year ended 31 March 2024,during which period no transfer of shares of the Company will be registered.In order to qualify for the final dividend,all transfer

213、s accompanied by the relevant share certificates must be lodged with the Companys Hong Kong Branch Share Registrar,Computershare Hong Kong Investor Services Limited at Shops 17121716,17/F.,Hopewell Centre,183 Queens Road East,Wanchai,Hong Kong not later than 4:30 p.m.on 21 August 2024.SHARE CAPITALD

214、etails of movements in the issued share capital of the Company during the 2024 Financial Year are set out in note 16 to the consolidated financial statements.RESERVESDetails of movements in the reserves of the Group during the 2024 Financial Year are set out in note 17 to the consolidated financial

215、statements.DISTRIBUTABLE RESERVESAs at 31 March 2024,the distributable reserves of the Company amounted to approximately HK$2,005 million(2023:HK$1,939 million)comprising share premium,share-based reserve and retained earnings of the Company.Under the Companies Act(As Revised)(Cap.22)of the Cayman I

216、slands,in addition to the retained earnings of the Company,the share premium and capital reserves of the Company are also available for distribution to the Shareholders provided that the Company will be able to pay its debts as they fall due in the ordinary course of business immediately following t

217、he date on which any such distribution is proposed to be paid.PRE-EMPTIVE RIGHTSThere are no provisions for pre-emptive rights under the Articles,or the laws of the Cayman Islands,being the jurisdiction in which the Company is incorporated,which oblige the Company to offer new Shares on a pro-rata b

218、asis to existing Shareholders.MANAGEMENT CONTRACTSNo contracts concerning the management and administration of the whole or any substantial part of any business of the Company were entered into or existed during the 2024 Financial Year.Pacific Textiles Holdings Limited|2023/2024 Annual Report26DIREC

219、TORS REPORT董事局報告捐款本集團於回顧年度作出之慈善及其他捐款共約368,000港元（2023年：399,000港元）。物業、廠房及設備以及使用權資產於2024年財政年度期間，主要就擴充本集團產能支出約1,013百萬港元（2023年：364百萬港元）。本集團物業、廠房及設備以及使用權資產之變動詳情分別載於綜合財務報表附註6及7。利息資本化於2024年財政年度期間，約10,129,000港元的利息開支資本化（2023年：1,967,000港元）。購買、出售或贖回股份截至2024年3月31日止年度，本公司從聯交所購回合共9,730,000股股份，總代價（撇除開支）為16,578,090港

220、元。在該等購回股份中，5,513,000股購回股份其後於2023年8月2日註銷，而4,217,000股股份在2023年12月27日註銷。本公司的已發行股本按註銷股份的面值減少。有關股份購回的詳情如下：董事根據股東分別在2022年8月11日及2023年8月10日舉行的股東週年大會上授予的一般授權進行股份購回，旨在提高每股資產淨值及每股盈利，從而使股東整體獲益。除上文所披露者外，截至2024年3月31日止年度及直至本報告日期，本公司或其任何附屬公司概無購買、贖回或出售本公司之任何上市證券。DONATIONSDuring the year under review,the Group made ch

221、aritable and other donation totalling approximately HK$368,000(2023:HK$399,000).PROPERTY,PLANT AND EQUIPMENT AND RIGHT-OF-USE ASSETSExpenditure of approximately HK$1,013 million(2023:HK$364 million)was incurred during 2024 Financial Year primarily to expand the production capacity of the Group.Detai

222、ls of movements in property,plant and equipment and right-of-use assets of the Group are set out in note 6 and 7 respectively to the consolidated financial statements.CAPITALISED INTERESTSDuring the 2024 Financial Year,interest expenses of approximately HK$10,129,000 had been capitalised(2023:HK$1,9

223、67,000).PURCHASE,SALE OR REDEMPTION OF SHARESDuring the year ended 31 March 2024,the Company repurchased a total of 9,730,000 shares on the Stock Exchange at an aggregate consideration of(excluding expenses)HK$16,578,090.Among those repurchased shares,5,513,000 repurchased shares were cancelled on 2

224、 August 2023,and 4,217,000 shares were subsequently cancelled on 27 December 2023.The issued share capital of the Company was reduced by the par value thereof.Details of the repurchases of shares were as follows:Month of repurchaseNumber of Shares repurchasedPrice per ShareAggregateconsideration(exc

225、luding expenses)HighestLowest每股價格總代價（不包括費用）購回月份購回股份數目最高最低HK$HK$HK$港元港元港元June 20232023年6月800,0001.941.851,505,500July 20232023年7月4,713,0001.971.788,942,700November 20232023年11月2,014,0001.471.452,931,040December 20232023年12月2,203,0001.461.453,198,850The repurchase of shares was made by the Directors,p

226、ursuant to the general mandate granted by the Shareholders at the annual general meetings held on 11 August 2022 and 10 August 2023 respectively with a view to benefiting shareholders as a whole by enhancing the net asset value per share and earnings per share.Save as disclosed above,neither the Com

227、pany,nor any of its subsidiaries purchased,redeemed or sold any of the Companys listed securities during the year ended 31 March 2024 and up to the date of this report.互太紡織控股有限公司|2023/2024 年報27DIRECTORS REPORT董事局報告主要客戶及供應商於2024年財政年度，向本集團五大客戶作出之銷售佔本集團銷售總額約74.3%，而當中向本集團最大客戶作出之銷售佔其中約44.8%。向本集團五大供應商作出之採

228、購佔本集團採購總額約64.9%，而當中向本集團最大供應商作出之採購佔其中約31.1%。除以下披露者外，本公司各董事、其聯繫人或任何股東（就董事所知擁有本公司已發行股份5%以上）概無擁有上述本集團五大客戶或供應商之任何權益：本公司主要股東Toray佔本集團採購總額約0.3%。向Toray作出之採購構成持續關連交易，有關詳情載於綜合財務報表附註32。Toray亦佔本集團銷售總額約0.7%。向Toray的銷售構成持續關連交易，其詳情載於綜合財務報表附註32。財務概要本集團於過去五個財政年度之綜合業績和綜合資產負債表概要載於本年報第172頁。董事於本報告日期之董事名單如下：執行董事奧富勝先生（主席兼行

229、政總裁）杜結威先生（首席財務總監兼公司秘書）福元究一先生獨立非執行董事陳裕光博士伍清華先生施國榮先生凌致和女士MAJOR CUSTOMERS AND SUPPLIERSDuring the 2024 Financial Year,sales to the Groups five largest customers accounted for approximately 74.3%of the Groups total sales and sales to the Groups largest customer included therein amounted to approximately

230、 44.8%.Purchases from the Groups five largest suppliers accounted for approximately 64.9%of the Groups total purchases and purchase from the Groups largest supplier included therein amounted to approximately 31.1%.Except as disclosed below,none of the Directors,their associates or any Shareholders o

231、f the Company(which to the knowledge of the Directors had owned more than 5%of the Companys issued Shares)had any interests in the Groups five largest customers or suppliers noted above:Toray,a substantial shareholder of the Company,accounted for approximately 0.3%of the Groups total purchases.The p

232、urchase from Toray constituted continuing connected transactions,details of which are set out in note 32 to the consolidated financial statements.Toray also accounted for approximately 0.7%of the Groups total sales.The sales to Toray constituted continuing connected transactions,details of which are

233、 set out in note 32 to the consolidated financial statements.FINANCIAL SUMMARYA summary of the consolidated results and consolidated balance sheet of the Group for the last five financial years is set out on page 172 of this annual report.DIRECTORSThe list of Directors as at the date of this report

234、was as follows:Executive DirectorsMr.Masaru OKUTOMI(Chairman and Chief Executive Officer)Mr.TOU Kit Vai(Chief Financial Officer and Company Secretary)Mr.Kyuichi FUKUMOTOIndependent Non-executive DirectorsDr.CHAN Yue Kwong,Michael Mr.NG Ching WahMr.SZE Kwok Wing,NigelMs.LING Chi Wo TeresaPacific Text

235、iles Holdings Limited|2023/2024 Annual Report28DIRECTORS REPORT董事局報告董事（續）根據章程細則第130條，於每屆股東週年大會上三分之一的當時在任董事（或倘董事人數並非三或三的倍數，則為最接近但不少於三分之一的人數）須輪席告退，惟每位董事（包括委任為特定任期的董事）須最少每三年輪席告退一次。因此，奧富勝先生、陳裕光博士及伍清華先生將於應屆股東週年大會上從董事局輪席告退，惟彼等合資格並願膺選連任董事。董事之簡介董事之簡介詳列於本年報第17頁至第20頁。董事之服務合約各執行董事已與本公司訂立初步為期兩年之服務協議，其後可予續期，直至其中

236、一方向另一方發出不少於六個月事先書面通知終止協議為止。各獨立非執行董事及非執行董事獲委任之任期為兩年，其後可予續期。全體董事須根據章程細則及上市規則輪席退任。擬於應屆股東週年大會上膺選連任之董事概無與本公司或任何附屬公司訂立任何本公司不可於一年內終止而毋須作出賠償（法定賠償除外）之服務合約。董事薪酬董事之薪酬由薪酬委員會按各董事之經驗、職責及於本集團業務所投放之時間而審閱與釐定。各位董事於2024年財政年度之酬金詳情載於綜合財務報表附註34。DIRECTORS(Contd)Pursuant to article 130 of the Articles,at every AGM one-thir

237、d of the Directors for the time being,or,if their number is not three or a multiple of three,then the number nearest to,but not less than,one-third,shall retire from office by rotation provided that every Director(including those appointed for a specific term)shall be subject to retirement by rotati

238、on at least once every three years.Accordingly,Mr.Masaru Okutomi,Dr.Chan Yue Kwong,Michael and Mr.Ng Ching Wah will retire by rotation from the Board at the forthcoming AGM and will,being eligible,have offered themselves for re-election as Directors.PROFILES OF DIRECTORSProfiles of the Directors are

239、 set out on pages 17 to 20 of this annual report.DIRECTORS SERVICE CONTRACTSEach of the executive Directors had entered into a service agreement with the Company for an initial term of two years,renewable thereafter until terminated by either party by giving at least six months prior notice to anoth

240、er party in writing.Each of the Independent Non-executive Directors and Non-executive Directors had been appointed for a term of two years and are renewable thereafter.All Directors are subject to retirement by rotation in accordance with the Articles and the Listing Rules.None of the Directors prop

241、osed for re-election at the forthcoming AGM had a service contract with the Company or any of its subsidiaries not determinable by the Company within one year without payment of compensation(other than statutory compensation).REMUNERATION OF THE DIRECTORSThe remuneration of the Directors are reviewe

242、d and determined by the Remuneration Committee on the basis of each Directors experience,responsibility and the time commitment to the business of the Group.Details of emoluments of every Director for the 2024 Financial Year are set out in note 34 to the consolidated financial statements.互太紡織控股有限公司|

243、2023/2024 年報29DIRECTORS REPORT董事局報告DIRECTORS MATERIAL INTERESTS IN TRANSACTIONS,ARRANGEMENTS OR CONTRACTSNo transaction,arrangement,or contract of significance in relation to the business of the Group to which the Company or any of its subsidiaries was a party and in which a Director or his or her c

244、onnected entity had a material interest,either directly or indirectly,subsisted at any time during or at the end of the 2024 Financial Year.COMPETING INTERESTNone of the Directors had,either directly or indirectly,an interest in a business which caused or might cause any significant competition with

245、 the business of the Group and any other conflicts of interest which any such person had or might had with the Group during the year under review.TAX RELIEF AND EXEMPTIONThe Directors were not aware of any tax relief and exemption available to the Shareholders of the Company by reason of their holdi

246、ngs of the Shares.ARRANGEMENTS TO PURCHASE SHARES OR DEBENTURESAt no time during the 2024 Financial Year was the Company,its holding companies,or any of its subsidiaries or fellow subsidiaries a party to any arrangements to enable the Directors of the Company to acquire benefits by means of the acqu

247、isition of Shares in,or debentures of,the Company or any other body corporate.PERMITTED INDEMNITY PROVISIONPursuant to the Articles of Association,every director shall be entitled to be indemnified out of the assets of the Company against all losses or liabilities which he/she may sustain or incur i

248、n or about the execution of the duties of his office or otherwise in relation thereto.董事於交易、安排或合約的重大權益 於2024年財政年度內任何時間或年末，概無存續任何與本集團業務相關，而本公司或其任何附屬公司為訂約方及董事或其關連實體直接或間接擁有重大權益的重大交易、安排或合約。競爭權益於回顧年度內，董事概無在與本集團業務構成或可能構成任何重大競爭的業務中直接或間接擁有任何權益，而任何該等人士與本集團亦無存在或可能存在任何其他利益衝突。稅務減免與豁免董事並不知悉任何本公司之股東因持有股份而可享有任何稅務減

249、免與豁免。購買股份或債券之安排本公司、其控股公司或其任何附屬公司或同系附屬公司於2024年財政年度期間任何時間概無參與訂立任何安排，致使本公司董事可藉購入本公司或任何其他法人團體之股份或債券而獲益。獲準許彌償條文根據組織章程細則，各董事就其於履行職務或其他相關情況下可能蒙受或招致的一切損失或債務，均有權獲得本公司以其資產賠償。Pacific Textiles Holdings Limited|2023/2024 Annual Report30DIRECTORS REPORT董事局報告董事於股份和相關股份之權益及淡倉 於2024年3月31日，本公司董事及最高行政人員（附註1）於本公司或其任何相聯

250、法團（附註1）之股份、相關股份及債券中，擁有根據證券及期貨條例第352條須予存置之登記冊所記錄或須另行知會本公司及聯交所之權益及淡倉如下：股份之好倉附註：1.定義見證券及期貨條例第XV部。2.根據董事最高行政人員向本公司作出通知之資料及於相關事件日期之本公司已發行股份總數。DIRECTORS INTERESTS AND SHORT POSITIONS IN SHARES AND UNDERLYING SHARESAs at 31 March 2024,the interests and short positions of the Directors and chief executives(

251、Note 1)of the Company in the Shares,underlying Shares and debentures of the Company or any of its associated corporations(Note 1)as recorded in the register required to be kept under section 352 of the SFO,or as otherwise notified to the Company and the Stock Exchange were as follows:LONG POSITIONS

252、IN SHARESNumber of Issued Shares Held and Nature of Interests持有已發行股份數目及權益性質Name of Directors/Chief ExecutivesPersonal Interests(beneficial owner)Family Interests(interests of spouse)Corporate Interests(interests of a controlled corporation)Trusts andsimilar interestsTotal InterestsApproximate percen

253、tage of issued share capital of the Company董事最高行政人員姓名個人權益（實益擁有人）家屬權益（配偶之權益）法團權益（於受控法團之權益）信託及類似權益權益總額於本公司已發行股本之概約百分比(Note 2)（附註2）Tou Kit Vai杜結威900,000900,0000.06%Sze Kwok Wing,Nigel施國榮650,000650,0000.05%Notes:1.Within the meaning of Part XV of the SFO.2.Based on the information and the total number o

254、f issued Shares of the Company on the date of relevant event per notification to the Company made by the Directors/Chief Executives.互太紡織控股有限公司|2023/2024 年報31DIRECTORS REPORT董事局報告董事於股份和相關股份之權益及淡倉（續）除上文披露者外，於2024年3月31日，概無本公司董事或最高行政人員於本公司或其任何相聯法團之股份、相關股份及債券中，擁有任何根據證券及期貨條例第352條須予存置之登記冊所記錄或須另行知會本公司及聯交所之權

255、益或淡倉。於回顧年度內任何時間，概無任何董事或彼等各自的配偶或未成年子女獲授可藉購入本公司股份而獲益的權利，或彼等行使任何此等權利；或本公司、其控股公司或其任何附屬公司概無參與任何安排，致令董事可於任何其他法人團體獲得此等權利。主要股東及其他人士於股份和相關股份之權益及淡倉於2024年3月31日，以下人士（本公司董事或最高行政人員除外）於本公司股份或相關股份中擁有根據證券及期貨條例第336條須予存置之登記冊所記錄之權益或淡倉如下：股份之好倉DIRECTORS INTERESTS AND SHORT POSITIONS IN SHARES AND UNDERLYING SHARES(Contd)

256、Save as disclosed above,as at 31 March 2024,no Directors nor chief executives of the Company had any interests or short positions in the Shares,underlying Shares and debentures of the Company or any of its associated corporations as recorded in the register required to be kept under Section 352 of t

257、he SFO or as otherwise notified to the Company and the Stock Exchange.At no time during the year under review were the rights to acquire benefits by means of the acquisition of Shares in the Company granted to any Directors or their respective spouses or minor children,or were any such rights exerci

258、sed by them;or was the Company,its holding company or any of its subsidiaries a party to any arrangement to enable the Directors to acquire such rights in any other body corporate.SUBSTANTIAL SHAREHOLDERS AND OTHER PERSONS INTERESTS AND SHORT POSITIONS IN SHARES AND UNDERLYING SHARESAs at 31 March 2

259、024,the following persons(other than a Director or chief executive of the Company)had interests or short positions in the Shares or underlying Shares of the Company as recorded in the register required to be kept under section 336 of the SFO were as follows:LONG POSITIONS IN SHARESNameCapacity in wh

260、ich ordinary shares were heldNumber of ordinary sharesApproximate percentage of issued share capital of the Company姓名名稱於所持普通股之身份普通股數目於本公司已發行股本之概約百分比(Note 5)（附註5）TorayBeneficial Owner實益擁有人405,394,000(L)28.03%Pandanus Associates Inc.Interest of a controlled corporation受控法團權益98,463,000(L)(Note 3)（附註3）6

261、.99%Pandanus Partners L.P.Interest of a controlled corporation受控法團權益98,463,000(L)(Note 3)（附註3）6.99%FIL LimitedInterest of a controlled corporation受控法團權益98,463,000(L)(Note 3)（附註3）6.99%Pacific Textiles Holdings Limited|2023/2024 Annual Report32DIRECTORS REPORT董事局報告NameCapacity in which ordinary shares

262、 were heldNumber of ordinary sharesApproximate percentage of issued share capital of the Company姓名名稱於所持普通股之身份普通股數目於本公司已發行股本之概約百分比(Note 5)（附註5）Lam Wing Tak林榮德Beneficial Owner實益擁有人14,566,000(L)Interest of Spouse配偶權益718,000(L)Founder of a discretionary trust全權信託之創辦人69,243,000(L)84,527,000(Note 4)（附註4）5

263、.85%Wong Bik Ha黃碧霞Beneficial Owner實益擁有人718,000(L)Interest of Spouse配偶權益14,566,000(L)Founder of a discretionary trust全權信託之創辦人69,243,000(L)84,527,000(Note 4)（附註4）5.85%FIDELITY FUNDSBeneficial Owner實益擁有人70,728,000(L)Interest of a controlled corporation受控法團權益4,429(L)70,732,4295.01%WEBB DAVID MICHAELBene

264、ficial Owner實益擁有人29,159,300(L)Interest of a controlled corporation受控法團權益41,000,700(L)70,160,0005.00%Notes:3.Pandanus Partners L.P.is a wholly-owned subsidiary of Pandanus Associates Inc.,and Pandanus Partners L.P.holds 38.71%shareholding of FIL Limited.Pandanus Associates Inc.,Pandanus Partners L.P.

265、and FIL Limited are therefore deemed to be interested in the 98,463,000 shares of the Company.4.Mr.Lam Wing Tak is the spouse of Ms.Wong Bik Ha,vice versa.For the purpose of the SFO,Mr.Lam Wing Tak is the founder of the family trust.5.Based on the information and the total number of issued Shares of

266、 the Company on the date of relevant event per notification to the Company made by the respective Shareholders.SUBSTANTIAL SHAREHOLDERS AND OTHER PERSONS INTERESTS AND SHORT POSITIONS IN SHARES AND UNDERLYING SHARES(Contd)LONG POSITIONS IN SHARES(Contd)主要股東及其他人士於股份和 相關股份之權益及淡倉（續）股份之好倉（續）附註：3.Pandanu

267、s Partners L.P.為 Pandanus Associates Inc.的 全 資 附 屬 公 司，及Pandanus Partners L.P.持有FIL Limited的38.71%股權。因此，Pandanus Associates Inc.、Pandanus Partners L.P.及FIL Limited被視為於本公司98,463,000股股份中擁有權益。4.林榮德先生與黃碧霞女士為配偶。就證券及期貨條例而言，林榮德先生為家族信託之創辦人。5.根據相關股東向本公司作出通知之資料及於相關事件日期之本公司已發行股份總數?；ヌ徔椏毓捎邢薰緗2023/2024 年報33DIRE

268、CTORS REPORT董事局報告購股權計劃根據股東於2007年4月27日通過之書面決議案，本公司已採納購股權計劃，並受限於其所訂之條款及條件?？尚惺官徆蓹喟l行22,820,000股股份於2007年 7 月 18 日 授 出（第 一 次 授 出），已 於2017年7月17日屆滿?？尚惺官徆蓹喟l行10,000,000股股份於2013年10月11日授出（第二次授出），並於2023年10月10日屆滿。本公司股份於緊接第一次授出及第二次授出日期前之收市價分別為每股4.86港元及10.06港元。A.購股權計劃概要1.目的購股權計劃之目的為使本公司能靈活地挽留、激勵、回饋、酬報、補償及或提供利益予合資格參

269、與者（定義見下文第2段）。2.參與者董事局可向任何合資格參與者，包括本集團任何成員公司之僱員、董事或非執行董事（包括獨立非執行董事）授出購股權。本集團成員公司 指本公司、任何本公司之控股公司、附屬公司或聯屬公司或董事局認定為符合購股權計劃之其他公司或本公司聯營公司。3.最高股份數目根據購股權計劃及任何其他計劃可能授出之所有購股權獲行使而可發行之股份總數，合共不得超過於股份於2007年5月18日於聯交所上市日期（上市日期）已發行股份之10%，相當於143,293,600股股份或不時已發行本公司股份之30%。4.每名參與者可獲授權益上限在任何12個月期間，因合資格參與者行使獲授之購股權（包括已行使

270、及尚未行使之購股權）而已經或將予發行之股份總數，不得超過購股權授出之日已發行股份之1%。SHARE OPTION SCHEMEPursuant to the written resolutions of Shareholders passed on 27 April 2007,the Company adopted the Share Option Scheme subject to the terms and conditions therein.Options enabling the exercise of 22,820,000 Shares were granted on 18 Jul

271、y 2007(“1st Grant”)and expired on 17 July 2017.Options enabling the exercise of 10,000,000 Shares were granted on 11 October 2013(“2nd Grant”)and expired on 10 October 2023.The closing price of the share of the Company immediately before the dates of the 1st Grant and the 2nd Grant were HK$4.86 and

272、HK$10.06 per share respectively.A.SUMMARY OF THE SHARE OPTION SCHEME1.PurposeThe purpose of the Share Option Scheme is to provide the Company with a flexible means of retaining,incentivising,rewarding,remunerating,compensating and/or providing benefits to eligible participants(as defined in paragrap

273、h 2 below).2.ParticipantsThe Board may grant options to any eligible participants,namely an employee,Director or Non-executive Director(including INED)of any Member of the Group.“Member of the Group”means the Company,any holding company,subsidiaries or affiliates of the Company or other companies or

274、 associated companies of the Company which the Board determines will be subject to the Share Option Scheme.3.Maximum number of SharesThe total number of Shares which may be issued upon exercise of all options to be granted under the Share Option Scheme and any other schemes must not in aggregate exc

275、eed 10%of the Shares in issue as at the date of Listing of the Shares on the Stock Exchange on 18 May 2007(the“Listing Date”),representing 143,293,600 Shares or 30%of the Shares of the Company in issue from time to time.4.Maximum entitlement of each participantThe total number of Shares issued and t

276、o be issued upon exercise of the options granted to each eligible participant(including exercised and outstanding options)in any 12-month period must not exceed 1%of the Shares in issue at the date of grant of the options.Pacific Textiles Holdings Limited|2023/2024 Annual Report34DIRECTORS REPORT董事局

277、報告購股權計劃（續）A.購股權計劃概要（續）5.行使購股權之時間及購股權計劃之有效期(a)一般歸屬期根據購股權計劃授出購股權之一般歸屬期為授出日期5週年，除非董事局根據授予之條款指明另一歸屬期。購股權期間將不會超過授出日期起計10年。購股權按已歸屬程度於達致任何由董事局釐定之表現條件或目標時行使。(b)購股權計劃之期限購股權計劃之期限為上市日期起計10年。6.行使價及授出時付款(a)行使價購股權計劃項下之股份行使價將由董事局釐定並通知購股權持有人，惟該價格不得低於以下各項之最高者：(i)緊接購股權授出日期前五個營業日根據聯交所每日報價表所示股份之平均收市價；(ii)於購股權授出日期根據聯交所每

278、日報價表所示股份之收市價；及(iii)股份之面值。(b)授出時付款合資格人士毋須於接納授予彼等之購股權時付款。7.購股權計劃有效期購股權計劃於緊接上市日期第10週年屆滿當日前一日凌晨起自動終止，換言之，購股權計劃已於2017年5月17日終止。SHARE OPTION SCHEME(Contd)A.SUMMARY OF THE SHARE OPTION SCHEME(Contd)5.Time of exercise of options and duration of Share Option Scheme(a)General vesting periodThe general vesting

279、period for options granted under the Share Option Scheme is 5 anniversary of grant date unless the Board specifies a different vesting period under the terms of the offer.The option period will not be more than 10 years from the date of grant.An option may be exercised to the extent that it has vest

280、ed and any performance conditions or targets set by the Board have been met.(b)Duration of the Share Option SchemeThe duration of the Share Option Scheme shall be 10 years from the Listing Date.6.Exercise price and payment on grant(a)Exercise priceThe exercise price for the Shares under the Share Op

281、tion Scheme shall be the price determined by the Board and notified to the option holder which shall not be less than the highest of:(i)the average closing price of the Shares for the five business days immediately preceding the date of grant of the option as stated in the Stock Exchanges daily quot

282、ation sheets;(ii)the closing price of the Shares as stated on the Stock Exchanges daily quotations sheet of the Shares on the date of grant of the option;and(iii)the nominal value of the Shares.(b)Payment on grantEligible Persons are not required to pay for the acceptance of an option granted to the

283、m.7.Life of the Share Option SchemeThe Share Option Scheme was terminated automatically at midnight on the day immediately before the 10th anniversary of the Listing Date,in other words,the Share Option Scheme was terminated as at 17 May 2017.互太紡織控股有限公司|2023/2024 年報35DIRECTORS REPORT董事局報告購股權計劃（續）B.本

284、公司已授出之購股權第一次授出發行的購股權已獲悉數行使。於2024年3月31日，已於2023年10月10日屆滿的第二次授出的變動列示如下：根據二項式期權定價模式（定價模式），第二次授出之購股權之公允值平均約為每股1.85港元。該定價模式主要基於本公司股份於授出購股權日期之收市價為每股9.98港元、每年約2.09%的無風險利率、約10年的預期購股權有效期、45%的預期引伸波幅及每年9%的股息回報率計算。於2024年財政年度，並無購股權之經攤銷公允值於綜合收益表內扣除（2023年：310,000港元）。定價模式是為評估所買賣的可悉數轉讓期權的公允值而設。該定價模式涉及大量主觀假設，包括預期股價波動。

285、由於本公司的購股權與所買賣的期權截然不同，加上主觀假設更改可能對公允值估計有重大影響，故此該定價模式不一定能對購股權的公允值作出可靠的評估。SHARE OPTION SCHEME(Contd)B.OPTIONS GRANTED BY THE COMPANYThe share options issued under 1st Grant were fully exercised.The movement of 2nd Grant,which expired on 10 October 2023,as at 31 March 2024 was as follows:Date of GrantGra

286、nteeExercise PriceNumber of Share Options GrantedTrancheVesting DatePercentage of total Share Options GrantedNumber of Share Options Vested/to be VestedExercisable PeriodAs at 01/04/2023ExercisedLapsed on 10/10/2023CancelledAs at 31/03/2024授出日期 承授人行使價已授出購股權數目批次歸屬日期佔已授出購股權總數的百分比已歸屬待歸屬購股權數目行使期於2023年4月

287、1日已行使於2023年10月10日失效註銷於2024年3月31日11/10/2013Eligible Employees合資格僱員HK$9.989.98港元10,000,0001st第一批11/10/201630%3,000,00011/10/2016 10/10/20232nd第二批11/10/201935%3,500,00011/10/2019 10/10/20237,550,0007,550,00003rd第三批11/10/202235%3,500,00011/10/2022 10/10/2023The fair value of options of the 2nd Grant is

288、approximately at an average of HK$1.85 per Share on the basis of binomial model(the“Model”).The significant inputs into the Model were the closing price of the Share of the Company at the date of grant of HK$9.98 per Share,annual risk-free interest rate of approximately 2.09%,an expected option life

289、 of approximate 10 years,expected volatility of 45%and annual dividend yield of 9%.Nil amortised fair value of share options for the 2024 Financial Year was charged to the consolidated income statement(2023:HK$310,000).The Model was developed for use in estimating fair value of traded options that a

290、re fully transferable.The Model requires input of highly subjective assumptions,including the expected stock price volatility.Since the Companys share options have characteristics significantly different from those of traded options,and because change in the subjective input assumptions can material

291、ly affect the fair value estimate,the Model does not necessarily provide a reliable measure of the fair value of the share options.Pacific Textiles Holdings Limited|2023/2024 Annual Report36DIRECTORS REPORT董事局報告持續關連交易載於綜合財務報表附註32的若干關聯方交易亦構成上市規則下的持續關連交易。於2024年財政年度期間，本集團有下列持續關連交易須根據上市規則第14A.33章遵守申報及公告

292、規定惟可獲豁免遵守獨立股東批準：(1)向晶苑集團銷售及購入針織布於2024年財政年度，本集團根據日期為2021年3月30日有關本集團向Crystal International Group Limited（晶苑，連同其附屬公司統稱為 晶苑集團）銷售本集團所製造及擁有的針織布的總目協議進行業務，年期直至2024年3月31日為止（有關銷售針織布總目協議）。截至2022年3月31日、2023年3月31日及2024年3月31日止三個年度之年度上限各為2,000百萬港元。有關銷售針織布總目協議詳情載列於本公司日期為2021年3月30日的公告。於2024年財政年度，晶苑集團與本集團之間的交易總額約為961

293、百萬港元，有關金額並無超出相關年度上限。根據上市規則，因晶苑為本公司間接非全資附屬公司PCGT Limited及本公司間接非全資附屬公司PC Textiles Trading Limited的股東，晶苑為本公司該兩間非全資附屬公司各自的主要股東（定義見上市規則），故此為本公司附屬公司層面的關連人士。晶苑集團亦因而視作本公司關連人士。根據上市規則第14A.55條，本公司獨立非執行董事已審閱上述持續關連交易並確認該等交易的訂立：(i)屬本集團的日常業務；(ii)按照一般商務條款或更佳條款進行；及(iii)根據有關交易的協議條款進行，而交易條款屬公平合理，並且符合本集團股東的整體利益。CONTINU

294、ING CONNECTED TRANSACTIONSCertain related party transactions set out in note 32 to the consolidated financial statements also constituted continuing connected transaction under the Listing Rules.During the 2024 Financial Year,the Group had the following continuing connected transactions,which were s

295、ubject to reporting,and announcement requirements but are exempt from the independent shareholders approval requirement under Chapter 14A.33 of the Listing Rules:(1)SALE AND PURCHASE OF KNITTED FABRIC TO CRYSTAL GROUPDuring the 2024 Financial Year,the Group conducted business pursuant to a master ag

296、reement dated 30 March 2021 in relation to the sale of knitted fabric manufactured and owned by the Group to Crystal International Group Limited(“Crystal”together with its subsidiaries,referred to as“Crystal Group”)with its term up to 31 March 2024(“Master Agreement relating to the Sale of Knitted F

297、abrics”).The annual cap for each of the three years ended 31 March 2022,31 March 2023 and 31 March 2024 shall be HK$2,000 million.Details of the Master Agreement relating to the Sale of Knitted Fabrics were set out in the Companys announcement dated 30 March 2021.During the 2024 Financial Year,the t

298、otal transaction amount between Crystal Group and the Group was approximately HK$961 million which was within the relevant annual cap.According to the Listing Rules,by virtue of its shareholding in PCGT Limited(an indirect non-wholly-owned subsidiaries of the Company)and PC Textiles Trading Limited(

299、an indirect non-wholly-owned subsidiaries of the Company),Crystal is a substantial shareholder(as defined in the Listing Rules)of each of these two non-wholly owned subsidiaries of the Company and hence a connected person of the Company at the subsidiary level.Crystal Group is therefore also regarde

300、d as connected person of the Company.In accordance with Rule 14A.55 of the Listing Rules,the Independent Non-executive Directors of the Company reviewed the continuing connected transactions in the paragraph above and confirmed that the transactions were entered into:(i)in the ordinary and usual cou

301、rse of business of the Group;(ii)on normal commercial terms or better;and(iii)according to the relevant agreement governing them on terms that are fair and reasonable and in the interests of the shareholders of the Group as a whole.互太紡織控股有限公司|2023/2024 年報37DIRECTORS REPORT董事局報告持續關連交易（續）(2)TORAY向本集團銷

302、售紗線於2024年財政年度，本集團根據日期為2017年7月28日有關Toray Industries,Inc.（Toray，連同其附屬公司統稱為 Toray集團）向本集團銷售其生產或擁有的紗線之協議進行業務，年期截至2020年3月31日為止。該協議之原定年期已於2020年3月31日屆滿，並已續期三年，直至2023年3月31日為止。於2023年3月30日，該協議已再續期三年，直至2026年3月31日為止。截至2024年3月31日、2025年3月31日及2026年3月31日止三個年度之年度上限各為100百萬港元。根據上市規則，由於Toray為本公司的主要股東，故為本公司的關連人士。Toray集團亦

303、視作本公司的關連人士。於2024年財政年度，Toray集團與本集團之間的交易總額約為10.3百萬港元，有關金額並無超出相關年度上限。根據上市規則第14A.55條，本公司獨立非執行董事已審閱上述持續關連交易並確認該等交易的訂立：(i)屬本集團的日常業務；(ii)按照一般商務條款或更佳條款進行；及(iii)根據有關交易的協議條款進行，而交易條款屬公平合理，並且符合本集團股東的整體利益。(3)本集團向TORAY集團銷售布料於2024年財政年度，本集團根據日期為2021年3月30日有關本集團向Toray集團銷售布料之協議進行業務，年期為三個財政年度。截至2024年3月31日止三個財政年度之年度上限各為

304、100百萬港元。根據上市規則，由於Toray為本公司的主要股東，故為本公司的關連人士。Toray集團亦視作本公司的關連人士。CONTINUING CONNECTED TRANSACTIONS(Contd)(2)SALE OF YARNS BY TORAY TO THE GROUPDuring the 2024 Financial Year,the Group conducted business pursuant to an agreement dated 28 July 2017 in relation to sale of yarns by manufactured or owned by

305、 Toray Industries,Inc.(“Toray”,together with its subsidiaries,“Toray Group”)to the Group for a period ending 31 March 2020.The original term of the agreement has expired on 31 March 2020 and the agreement has been renewed for a further term of three years up to 31 March 2023.On 30 March 2023,the ter

306、m of the agreement has been renewed for a further term of three years up to 31 March 2026.The annual cap for each of the three years ended 31 March 2024 and ending 31 March 2025 and 31 March 2026 shall be HK$100 million.According to the Listing Rules,Toray is a substantial shareholder of the Company

307、 and hence a connected person of the Company.Toray Group is therefore also regarded as connected person of the Company.During the 2024 Financial Year,the total transaction amount between Toray Group and the Group was approximately HK$10.3 million which was within the relevant annual cap.In accordanc

308、e with Rule 14A.55 of the Listing Rules,the Independent Non-executive Directors of the Company reviewed the continuing connected transactions in the paragraph above and confirmed that the transactions were entered into:(i)in the ordinary and usual course of business of the Group;(ii)on normal commer

309、cial terms or better;and(iii)according to the relevant agreement governing them on terms that are fair and reasonable and in the interests of the shareholders of the Group as a whole.(3)SALE OF FABRICS BY THE GROUP TO TORAY GROUPDuring the 2024 Financial Year,the Group conducted business pursuant to

310、 an agreement dated 30 March 2021 in relation to sale of fabrics by the Group to Toray Group for a term of three financial years.The annual cap for each of the three financial years ending 31 March 2024 shall be HK$100 million.According to the Listing Rules,Toray is a substantial shareholder of the

311、Company and hence a connected person of the Company.Toray Group is therefore also regarded as connected person of the Company.Pacific Textiles Holdings Limited|2023/2024 Annual Report38DIRECTORS REPORT董事局報告持續關連交易（續）(3)本集團向TORAY集團銷售布料（續）於2024年財政年度，Toray集團與本集團之間的交易總額約為31百萬港元，有關金額並無超出相關年度上限。根據上市規則第14A.

312、55條，本公司獨立非執行董事已審閱上述持續關連交易並確認該等交易的訂立：(i)屬本集團的日常業務；(ii)按照一般商務條款或更佳條款進行；及(iii)根據有關交易的協議條款進行，而交易條款屬公平合理，並且符合本集團股東的整體利益。本公司已按照上市規則第14A章遵守適用的披露規定。根據上市規則第14A.56條，本公司的外聘核數師羅兵咸永道會計師事務所（羅兵咸永道）獲聘遵照香港會計師公會發出的香港核證聘用準則第3000號（經修訂）的 歷史財務資料審計或審閱以外的核證聘用，並參照 實務說明 第740號關於香港上市規則所述持續關連交易的核數師函件，就本集團的持續關連交易作出匯報。羅兵咸永道已根據上市規

313、則第14A.56條發出載有本集團於上文(1)至(3)項披露之持續關連交易的審驗結果的無保留意見函件。CONTINUING CONNECTED TRANSACTIONS(Contd)(3)SALE OF FABRICS BY THE GROUP TO TORAY GROUP(Contd)During the 2024 Financial Year,the total transaction amount between Toray Group and the Group was approximately HK$31 million which was within the relevant a

314、nnual cap.In accordance with Rule 14A.55 of the Listing Rules,the Independent Non-executive Directors of the Company reviewed the continuing connected transactions in the paragraph above and confirmed that the transactions were entered into:(i)in the ordinary and usual course of business of the Grou

315、p;(ii)on normal commercial terms or better;and(iii)according to the relevant agreement governing them on terms that are fair and reasonable and in the interests of the shareholders of the Group as a whole.The Company has complied with the applicable disclosure requirements in accordance with Chapter

316、 14A of the Listing Rules.Pursuant to Rule 14A.56 of the Listing Rules,the Companys external auditor,PricewaterhouseCoopers(“PwC”)was engaged to report on the Groups continuing connected transactions in accordance with Hong Kong Standard on Assurance Engagements 3000(Revised)“Assurance Engagements O

317、ther Than Audits or Reviews of Historical Financial Information”and with reference to Practice Note 740“Auditors Letter on Continuing Connected Transactions under the Hong Kong Listing Rules”issued by the Hong Kong Institute of Certified Public Accountants.PwC had issued an unmodified letter contain

318、ing findings and conclusions in respect of the above continuing connected transactions(1)to(3)as disclosed by the Group in accordance with rule 14A.56 of the Listing Rules.互太紡織控股有限公司|2023/2024 年報39DIRECTORS REPORT董事局報告審核委員會本公司已成立審核委員會（審核委員會），並定明符合上市規則附錄C1所載的企業管治守則的書面職權範圍。審核委員會之成員為施國榮先生、伍清華先生、陳裕光博士及凌

319、致和女士（彼等均為獨立非執行董事）。施國榮先生為澳洲註冊會計師公會資深會員，擔任審核委員會主席。審核委員會已審閱本集團2024年財政年度的財務報表，並已與本公司管理層及核數師討論本集團所採納的會計原則及慣例，以及內部監控及財務申報事宜。依據上市規則附錄C1所載企業管治守則的最新修訂，審核委員會經修訂及重列的 職權範圍 自2019年1月1日起生效。企業管治本公司所採納的主要企業管治常規載列於本年報第41頁至第58頁的企業管治報告內。環境、社會以及管治報告有關本集團環境政策及績效、與其關鍵持份者的關係以及對本集團有重大影響之相關法律法規合規情況的討論，將載於環境、社會以及管治報告，該報告將在本公司

320、及聯交所網站登載。充足公眾持股量根據本公司可獲得之公開資料顯示及就董事所知，於刊發本年報前之最後實際可行日期，本公司已發行股份有足夠並超過上市規則規定25%之公眾持股量。AUDIT COMMITTEEThe Company has established an audit committee(the“Audit Committee”)with written terms of reference in compliance with the CG Code contained in Appendix C1 to the Listing Rules.The members of the Audi

321、t Committee are Mr.Sze Kwok Wing,Nigel,Mr.Ng Ching Wah,Dr.Chan Yue Kwong,Michael and Ms.Ling Chi Wo Teresa(who are Independent Non-executive Directors).Mr.Sze Kwok Wing,Nigel,a Fellow of CPA Australia,is the chairman of the Audit Committee.The Audit Committee had reviewed the financial statements of

322、 the Group for the 2024 Financial Year and discussed with the management and the auditor of the Company on the accounting principles and practices adopted by the Group and internal controls and financial reporting matters.Pursuant to the recent development of CG Code contained in Appendix C1 to the

323、Listing Rules,an amended and restated terms of reference for Audit Committee was effective from 1 January 2019.CORPORATE GOVERNANCEPrincipal corporate governance practices adopted by the Company are set out in the Corporate Governance Report on pages 41 to 58 of this annual report.ENVIRONMENTAL,SOCI

324、AL AND GOVERNANCE REPORTDiscussion on the Groups environmental policies and performance,relationships with its key stakeholders and compliance with relevant laws and regulations which have a significant impact on the Group will be provided in the Environmental,Social and Governance Report which will

325、 be published on the websites of the Company and the Stock Exchange.SUFFICIENCY OF PUBLIC FLOATBased on the information that is publicly available to the Company and within the knowledge of the Directors,as at the latest practicable date prior to the issue of this annual report,there was sufficient

326、public float of more than 25%of the issued shares of the Company as required under the Listing Rules.Pacific Textiles Holdings Limited|2023/2024 Annual Report40DIRECTORS REPORT董事局報告AUDITORThe consolidated financial statements for the 2024 Financial Year have been audited by PricewaterhouseCoopers.A

327、resolution to re-appoint PricewaterhouseCoopers as auditor of the Company will be proposed for approval by the Shareholders of the Company at the forthcoming AGM.On behalf of the BoardMasaru OKUTOMI ChairmanHong Kong,27 June 2024核數師羅兵咸永道會計師事務所已審核2024年財政年度的綜合財務報表。於應屆股東週年大會上將提呈決議案，以取得本公司股東批準續聘羅兵咸永道會計師

328、事務所為本公司核數師。代表董事局奧富勝主席香港，2024年6月27日CORPORATE GOVERNANCE REPORT企業管治報告互太紡織控股有限公司|2023/2024 年報41The Board is committed to maintaining high standard of corporate governance to enhance transparency and accountability and to safeguard the interests of Shareholders of the Company.The Group reviews corporate

329、 governance practices from time to time to ensure that business activities and decision making processes are properly regulated.A.CORPORATE GOVERNANCE PRACTICE OF THE COMPANYThe Company complied with the applicable code provisions and certain recommended best practices set out in the CG Code contain

330、ed in Appendix C1 to the Listing Rules where suitable to the Company so as to enhance the corporate governance standard of the Company throughout the 2024 Financial Year.During the year,Mr.Masaru Okutomi served the roles of Chairman and the Chief Executive Officer of the Company simultaneously,hence

331、 the Company did not comply with the code provision C.2.1 of the CG Code which requires that the roles of chairman and chief executive should be separate and should not be performed by the same individual.Although the roles of the chairman and the chief executive officer of the Company have not been

332、 segregated,powers and authorities have not been over-concentrated as all major decisions are made in consultation with Board members and senior management who possess the relevant knowledge and expertise,as well as appropriate Board committees.Hence,the current arrangements are subject to adequate

333、checks and balances notwithstanding such deviation.While the dual role arrangement has provided strong and consistent leadership and facilitated the implementation of the Groups business strategies,the Company will nevertheless review the structure from time to time in light of the prevailing circumstance.B.THE BOARD1.RESPONSIBILITIES OF THE BOARDThe Board is responsible for leadership and control