《通天酒業：2024年年報.pdf》由會員分享，可在線閱讀，更多相關《通天酒業：2024年年報.pdf（190頁珍藏版）》請在三個皮匠報告上搜索。
1、CONTENTS目 錄2Financial Highlights財務概覽5Corporate Information公司資料12Management Discussion and Analysis管理層討論及分析19Directors and Senior Management董事及高級管理層24Directors Report董事會報告43Corporate Governance Report企業管治報告64Environmental,Social and Governance Report環境、社會及管治報告96Independent Auditors Report獨立核數師報告106Co
2、nsolidated Statement of Profit or Loss and Other Comprehensive Income綜合損益及其他全面收益表107Consolidated Statement of Financial Position綜合財務狀況表109Consolidated Statement of Changes in Equity綜合權益變動表110Consolidated Statement of Cash Flows綜合現金流量表112Notes to the Consolidated Financial Statements綜合財務報表附註2CHINA TO
3、NTINE WINES GROUP LIMITED ANNUAL REPORT 2024FINANCIAL HIGHLIGHTS財務概覽Year ended 31 December截至十二月三十一日止年度20242023202220212020二零二四年二零二三年二零二二年二零二一年二零二零年RMB000RMB000RMB000RMB000RMB000人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元Profitability data盈利能力數據Revenue收益107,988189,139146,118208,371107,881Gross profit(loss)毛利（損）7,36128
4、,14935,87467,395(62,491)Total comprehensive(expense)income for the year attributable to owners of the Company and non-controlling interests本公司擁有人及非控股 權益應佔年內全面（開支）收益總額(347,437)(70,806)(27,554)17,216(168,385)Total comprehensive(expense)income for the year attributable to owners of the Company本公司擁有人應佔年
5、內全面（開支）收益總額(321,302)(80,199)(26,403)11,336(162,160)(Loss)earnings per share每股（虧損）盈利 Basic(RMB cents)(Note 1)基本（人民幣分）（附註1）(106.55)(26.59)(0.90)0.55(8.06)Diluted(RMB cents)(Note 2)攤?。ㄈ嗣駧欧郑ǜ皆]2）(106.55)(26.59)(0.90)0.47(8.06)Year ended 31 December截至十二月三十一日止年度20242023202220212020二零二四年二零二三年二零二二年二零二一年二零二零
6、年Profitability ratios盈利能力比率Gross profit/(loss)margin毛利（損）率7%14.88%24.55%324.34%(57.93%)Net(loss)/profit margin淨（虧損）利率(322%)(37.44%)(18.07%)8.26%(156.08%)Effective tax rate實際稅率N/A不適用N/A不適用N/A不適用N/A不適用N/A不適用Return on equity(Note 3)權益回報率（附註3）(129%)(18.07%)(5.40%)2.49%(33.78%)Return on assets(Note 4)資產回
7、報率（附註4）(83%)(13.82%)(4.21%)1.91%(25.98%)Notes:1.The calculation of basic(loss)earnings per share is based on the total comprehensive expense for the year attributable to owners of the Company divided by the weighted average number of ordinary shares in issue during the relevant period.2.No diluted l
8、oss per share is presented for the year ended 31 December 2023 as the exercise of the Companys outstanding share options would be anti-dilutive.3.Return on equity is equal to the total comprehensive(expense)income for the year attributable to owners of the Company divided by the average balance of t
9、otal equity attributable to owners of the Company as at the beginning of each year and as at the end of each year.4.Return on assets is equal to the total comprehensive(expense)income for the year attributable to owners of the Company divided by the average balance of total assets as at the beginnin
10、g of each year and as at the end of each year.附註：1.每股基本（虧損）盈利乃根據本公司擁有人應佔年內全面開支總額除以有關期間已發行普通股的加權平均數計算。2.截至二零二三年十二月三十一日止年度，由於行使本公司尚未行使之購股權具反攤薄影響，故並無呈列每股攤薄虧損。3.權益回報率相等於本公司擁有人應佔年內全面（開支）收益總額除以各年年初及年終的本公司擁有人應佔權益總額的平均結餘計算。4.資產回報率相等於本公司擁有人應佔年內全面（開支）收益總額除以各年年初及年終的總資產的平均結餘計算。FINANCIAL HIGHLIGHTS財務概覽3中國通天酒業集團有
11、限公司 二零二四年年報Year ended 31 December截至十二月三十一日止年度20242023202220212020二零二四年二零二三年二零二二年二零二一年二零二零年RMB000RMB000RMB000RMB000RMB000人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元Assets and liabilities data資產及負債數據Non-current assets非流動資產28,668199,743223,517216,924190,920Current assets流動資產188,766353,691385,557428,915349,283Current lia
12、bilities流動負債60,10952,66639,20966,31042,930Non-current liabilities非流動負債3,3831597862,380Shareholders equity股東權益92,577403,920483,634493,520417,348Non-controlling interests非控股權益64,74893,46584,07285,22377,545Year ended 31 December截至十二月三十一日止年度20242023202220212020二零二四年二零二三年二零二二年二零二一年二零二零年Other key financia
13、l ratios and information其他主要財務比率及資料Current ratios(Note 5)流動比率（附註5）3.146.79.86.58.1Quick ratios(Note 6)速動比率（附註6）2.334.25.43.34.8Gearing ratio(Note 7)資產負債比率（附註7）28%10%6%10%8%Net asset value per share(RMB)(Note 8)每股資產淨值（人民幣元）（附註8）0.521.660.190.220.25Inventory turnover days(days)(Note 9)存貨週轉日數（日）（附註9）32
14、9408748553408Trade receivables turnover days (days)(Note 10)貿易應收賬款週轉日數（日）（附註10）328241314162296Trade payables turnover days(days)(Note 11)貿易應付賬款週轉日數（日）（附註11）4415403618FINANCIAL HIGHLIGHTS財務概覽4CHINA TONTINE WINES GROUP LIMITED ANNUAL REPORT 2024Notes:5.Current ratio equals current assets divided by cu
15、rrent liabilities as at the end of each year.6.Quick ratio equals current assets minus inventory,divided by current liabilities as at the end of each year.7.Gearing ratio equals the debts incurred in the ordinary course of business divided by total assets as at the end of each year.8.The calculation
16、 of net asset value per share is based on the total number of shares in issue at the end of the year.9.Inventory turnover days are computed by dividing the average of the beginning and closing inventory balance in the respective financial year by cost of sales(excluding consumption tax and other tax
17、es)and multiplied by 365 days.10.Trade receivables turnover days are computed by dividing the average of the beginning and closing trade receivables balance in the respective financial year by revenue and multiplied by 365 days.11.Trade payables turnover days are computed by dividing the average of
18、the beginning and closing trade payables balance in the respective financial year by cost of sales(excluding consumption tax and other taxes)and multiplied by 365 days.附註：5.流動比率相等於各年年終的流動資產除以流動負債。6.速動比率相等於各年年終的流動資產減存貨除以流動負債。7.資產負債比率相等於各年年終於日常業務過程中招致的債項除以總資產。8.每股資產淨值根據年終的已發行股份總數計算。9.存貨週轉日數為有關財政年度年初及年
19、終存貨結餘的平均數除以銷售成本（不包括消費稅及其他稅項）再乘以365日計算。10.貿易應收賬款週轉日數為有關財政年度年初及年終貿易應收賬款結餘的平均數除以收益再乘以365日計算。11.貿易應付賬款週轉日數為有關財政年度年初及年終貿易應付賬款結餘的平均數除以銷售成本（不包括消費稅及其他稅項）再乘以365日計算。5中國通天酒業集團有限公司 二零二四年年報CORPORATE INFORMATION公司資料EXECUTIVE DIRECTORSMr.Sun Jialiang(Chairman and Chief Executive Officer)(Appointed on 30 September
20、2024)Mr.Huang Chuwu(Appointed on 30 September 2024)Mr.Wang Guangyuan(Resigned on 12 June 2024 as Chairman,Chief Executive Officer and Executive Director)Ms.Wang Lijun(Appointed on 12 June 2024 as Chairlady,resigned on 25 November 2024 as Chairlady and Executive Director)Mr.Zhang Hebin(Removed on 30
21、September 2024)Mr.Wang Junyao(Appointed on 14 June 2024 and removed on 30 September 2024)Mr.Zhang Xuexin(Appointed on 25 September 2024 and resigned on 25 November 2024)Mr.Shen Chengbo(Appointed on 25 September 2024 and resigned on 25 November 2024)NON-EXECUTIVE DIRECTORSMr.Li Jerry Y.Mr.Zhu Minghui
22、Mr.Pei Zhaolun(Appointed on 25 September 2024 and resigned on 25 November 2024)Mr.Qiu Ziwei(Appointed on 13 November 2024 and resigned on 29 November 2024)執行董事孫佳良先生（主席及行政總裁）（於二零二四年九月三十日獲委任）黃楚武先生（於二零二四年九月三十日獲委任）王光遠先生（於二零二四年六月十二日辭任主席、行政總裁兼執行董事）王麗君女士（於二零二四年六月十二日獲委任為主席並於二零二四年十一月二十五日辭任主席兼執行董事）張和彬先生（於二零二四
23、年九月三十日被罷免）王俊堯先生（於二零二四年六月十四日獲委任並於二零二四年九月三十日被罷免）張學鑫先生（於二零二四年九月二十五日獲委任並於二零二四年十一月二十五日辭任）沈成波先生（於二零二四年九月二十五日獲委任並於二零二四年十一月二十五日辭任）非執行董事李瑜鴻先生朱明徽先生裴兆倫先生（於二零二四年九月二十五日獲委任並於二零二四年十一月二十五日辭任）邱子維先生（於二零二四年十一月十三日獲委任並於二零二四年十一月二十九日辭任）CORPORATE INFORMATION公司資料6CHINA TONTINE WINES GROUP LIMITED ANNUAL REPORT 2024獨立非執行董事 李
24、良先生（於二零二四年九月三十日獲委任）雷美嘉女士（於二零二四年九月三十日獲委任）陳偉傑先生（於二零二四年九月三十日獲委任）劉崇達博士（於二零二四年九月二十五日獲委任並於二零二四年十二月二日辭任）鄭嘉福博士（於二零二四年六月十三日退任、於二零二四年六月十四日重獲委任並於二零二四年九月一日辭任）楊強先生（於二零二四年九月三十日被罷免）張仕青女士（於二零二四年六月十四日獲委任並於二零二四年九月一日辭任）莊樂文先生（於二零二四年九月二十五日獲委任並於二零二四年十一月二十五日辭任）葛洪洸先生（於二零二四年九月二十五日獲委任並於二零二四年十一月二十五日辭任）朱曉祥先生（於二零二四年九月二十五日獲委任並於二
25、零二四年十一月二十五日辭任）張小衛先生（於二零二四年十一月十三日獲委任並於二零二四年十一月二十九日辭任）黎志強先生（於二零二四年六月十三日退任）公司秘書賴偉慶先生（於二零二四年十一月十三日 獲委任）鄺藹文女士（於二零二四年十一月二十六日獲委任）陳淑雯女士（於二零二四年十一月二十五日辭任）李婉珊女士（於二零二四年六月二十四日 獲委任並於二零二四年十月十六日辭任）INDEPENDENT NON-EXECUTIVE DIRECTORSMr.Li Liang(Appointed on 30 September 2024)Ms.Lui Mei Ka(Appointed on 30 September 2
26、024)Mr.Chan Wai Kit(Appointed on 30 September 2024)Dr.Lau Sung Tat Vincent(Appointed on 25 September 2024 and resigned on 2 December 2024)Dr.Cheng Vincent(Retired on 13 June 2024,re-appointed on 14 June 2024 and resigned on 1 September 2024)Mr.Yang Qiang(Removed on 30 September 2024)Ms.Zhang Shiqing
27、(Appointed on 14 June 2024 and resigned on 1 September 2024)Mr.Chong Lok Man(Appointed on 25 September 2024 and resigned on 25 November 2024)Mr.Ge Honghuang(Appointed on 25 September 2024 and resigned on 25 November 2024)Mr.Zhu Xiaoxiang(Appointed on 25 September 2024 and resigned on 25 November 202
28、4)Mr.Zhang Xiaowei(Appointed on 13 November 2024 and resigned on 29 November 2024)Mr.Lai Chi Keung,Albert(Retired on 13 June 2024)COMPANY SECRETARYMr.Lai Wai Hing(Appointed on 13 November 2024)Ms.Kwong Oi Man Patty(Appointed on 26 November 2024)Ms.Chan Shuk Man,Lora(Resigned on 25 November 2024)Ms.L
29、i Yuen Shan(Appointed on 24 June 2024 and resigned on 16 October 2024)CORPORATE INFORMATION公司資料7中國通天酒業集團有限公司 二零二四年年報審核委員會雷美嘉女士（主席）（於二零二四年九月三十日獲委任）李良先生（於二零二四年九月三十日獲委任）陳偉傑先生（於二零二四年九月三十日獲委任）劉崇達博士（於二零二四年九月二十五日獲委任並於二零二四年十二月二日辭任）鄭嘉褔博士（於二零二四年六月十三日退任、於二零二四年六月十四日重獲委任並於二零二四年九月一日辭任）楊強先生（於二零二四年九月三十日被罷免）張仕青女士（於二
30、零二四年六月十四日獲委任並於二零二四年九月一日辭任）莊樂文先生（於二零二四年九月二十五日獲委任並於二零二四年十一月二十五日辭任）葛洪洸先生（於二零二四年九月二十五日獲委任並於二零二四年十一月二十五日辭任）朱曉祥先生（於二零二四年九月二十五日獲委任並於二零二四年十一月二十五日辭任）黎志強先生（於二零二四年六月十三日退任）薪酬委員會李良先生（主席）（於二零二四年九月三十日獲委任）雷美嘉女士（於二零二四年九月三十日獲委任）陳偉傑先生（於二零二四年九月三十日獲委任）劉崇達博士（於二零二四年九月二十五日獲委任並於二零二四年十二月二日辭任）鄭嘉褔博士（於二零二四年六月十三日退任、於二零二四年六月十四日重獲
31、委任並於二零二四年九月一日辭任）楊強先生（於二零二四年九月三十日被罷免）張仕青女士（於二零二四年六月十四日獲委任並於二零二四年九月一日辭任）莊樂文先生（於二零二四年九月二十五日獲委任並於二零二四年十一月二十五日辭任）葛洪洸先生（於二零二四年九月二十五日獲委任並於二零二四年十一月二十五日辭任）朱曉祥先生（於二零二四年九月二十五日獲委任並於二零二四年十一月二十五日辭任）黎志強先生（於二零二四年六月十三日退任）AUDIT COMMITTEEMs.Lui Mei Ka(Chairlady)(Appointed on 30 September 2024)Mr.Li Liang(Appointed on
32、30 September 2024)Mr.Chan Wai Kit(Appointed on 30 September 2024)Dr.Lau Sung Tat Vincent(Appointed on 25 September 2024 and resigned on 2 December 2024)Dr.Cheng Vincent(Retired on 13 June 2024,re-appointed on 14 June 2024 and resigned on 1 September 2024)Mr.Yang Qiang(Removed on 30 September 2024)Ms
33、.Zhang Shiqing(Appointed on 14 June 2024 and resigned on 1 September 2024)Mr.Chong Lok Man(Appointed on 25 September 2024 and resigned on 25 November 2024)Mr.Ge Hongguang(Appointed on 25 September 2024 and resigned on 25 November 2024)Mr.Zhu Xiaoxiang(Appointed on 25 September 2024 and resigned on 2
34、5 November 2024)Mr.Lai Chi Keung,Albert(Retired on 13 June 2024)REMUNERATION COMMITTEEMr.Li Liang(Chairman)(Appointed on 30 September 2024)Ms.Lui Mei Ka(Appointed on 30 September 2024)Mr.Chan Wai Kit(Appointed on 30 September 2024)Dr.Lau Sung Tat Vincent(Appointed on 25 September 2024 and resigned o
35、n 2 December 2024)Dr.Cheng Vincent(Retired on 13 June 2024,re-appointed on 14 June 2024 and resigned on 1 September 2024)Mr.Yang Qiang(Removed on 30 September 2024)Ms.Zhang Shiqing(Appointed on 14 June 2024 and resigned on 1 September 2024)Mr.Chong Lok Man(Appointed on 25 September 2024 and resigned
36、 on 25 November 2024)Mr.Ge Hongguang(Appointed on 25 September 2024 and resigned on 25 November 2024)Mr.Zhu Xiaoxiang(Appointed on 25 September 2024 and resigned on 25 November 2024)Mr.Lai Chi Keung,Albert(Retired on 13 June 2024)CORPORATE INFORMATION公司資料8CHINA TONTINE WINES GROUP LIMITED ANNUAL REP
37、ORT 2024提名委員會孫佳良先生（主席）（於二零二四年九月三十日獲委任）李良先生（於二零二四年九月三十日獲委任）雷美嘉女士（於二零二四年九月三十日獲委任）陳偉傑先生（於二零二四年九月三十日獲委任）劉崇達博士（於二零二四年九月二十五日獲委任並於二零二四年十一月二十五日辭任）王光遠先生（於二零二四年六月十二日辭任）王麗君女士（於二零二四年六月十二日獲委任並於二零二四年十一月二十五日辭任）楊強先生（於二零二四年九月三十日被罷免）張仕青女士（於二零二四年六月十四日獲委任並於二零二四年九月一日辭任）莊樂文先生（於二零二四年九月二十五日獲委任並於二零二四年十一月二十五日辭任）葛洪洸先生（於二零二四年九
38、月二十五日獲委任並於二零二四年十一月二十五日辭任）朱曉祥先生（於二零二四年九月二十五日獲委任並於二零二四年十一月二十五日辭任）黎志強先生（於二零二四年六月十三日退任）授權代表孫佳良先生（於二零二四年十一月十三日 獲委任）鄺藹文女士（於二零二四年十一月二十六日獲委任）王光遠先生（於二零二四年六月十二日辭任）李婉珊女士（於二零二四年六月二十四日 獲委任並於二零二四年十月十六日辭任）陳淑雯女士（於二零二四年六月二十四日辭任）王麗君女士（於二零二四年六月十二日獲委任並於二零二四年十一月二十五日辭任）NOMINATION COMMITTEEMr.Sun Jialiang(Chairman)(Appoin
39、ted on 30 September 2024)Mr.Li Liang(Appointed on 30 September 2024)Ms.Lui Mei Ka(Appointed on 30 September 2024)Mr.Chan Wai Kit(Appointed on 30 September 2024)Dr.Lau Sung Tat Vincent(Appointed on 25 September 2024 and resigned on 25 November 2024)Mr.Wang Guangyuan(Resigned on 12 June 2024)Ms.Wang L
40、ijun(Appointed on 12 June 2024 and resigned on 25 November 2024)Mr.Yang Qiang(Removed on 30 September 2024)Ms.Zhang Shiqing(Appointed on 14 June 2024 and resigned on 1 September 2024)Mr.Chong Lok Man(Appointed on 25 September 2024 and resigned on 25 November 2024)Mr.Ge Hongguang(Appointed on 25 Sept
41、ember 2024 and resigned on 25 November 2024)Mr.Zhu Xiaoxiang(Appointed on 25 September 2024 and resigned on 25 November 2024)Mr.Lai Chi Keung,Albert(Retired on 13 June 2024)AUTHORISED REPRESENTATIVESMr.Sun Jialiang(Appointed on 13 November 2024)Ms.Kwong Oi Man Patty(Appointed on 26 November 2024)Mr.
42、Wang Guangyuan(Resigned on 12 June 2024)Ms.Li Yuen Shan(Appointed on 24 June 2024 and resigned on 16 October 2024)Ms.Chan Shuk Man,Lora(Resigned on 24 June 2024)Ms.Wang Lijun(Appointed on 12 June 2024 and resigned on 25 November 2024)CORPORATE INFORMATION公司資料9中國通天酒業集團有限公司 二零二四年年報註冊辦事處Clarendon House
43、2 Church StreetHamilton HM 11Bermuda香港主要營業地點香港九龍尖沙咀柯士甸道29號9樓902室中國總辦事處中國吉林省通化縣團結路2199號主要股份過戶登記處Appleby Global Corporate Services(Bermuda)LimitedCanons Court,22 Victoria StreetPo Box HM 1179,Hamilton HM EXBermuda香港股份過戶登記分處卓佳證券登記有限公司香港夏慤道16號遠東金融中心17樓REGISTERED OFFICEClarendon House2 Church StreetHamil
44、ton HM 11BermudaPRINCIPAL PLACE OF BUSINESS IN HONG KONGUnit 902,9/F.29 Austin RoadTsim Sha TsuiKowloon,Hong KongHEAD OFFICE IN THE PRCNo.2199,Tuanjie RoadTonghua CountyJilin ProvincePRCPRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICEAppleby Global Corporate Services(Bermuda)LimitedCanons Court,22 Vict
45、oria StreetPo Box HM 1179,Hamilton HM EXBermudaBRANCH SHARE REGISTRAR AND TRANSFER OFFICE IN HONG KONGTricor Investor Services Limited17/F,Far East Finance Centre16 Harcourt RoadHong KongCORPORATE INFORMATION公司資料10CHINA TONTINE WINES GROUP LIMITED ANNUAL REPORT 2024法律顧問有關香港法律吳國生律師事務所香港德輔道中141號中保集團大廈
46、25樓2502室有關中國法律廣東國暉律師事務所中國廣東省深圳市褔田區蓮花支路1號公交大廈六、七、十六層核數師栢淳會計師事務所有限公司執業會計師香港尖沙咀天文臺道8號19樓1903-1905室LEGAL ADVISERSAs to Hong Kong lawKS Ng Law OfficeUnit 2502,25th FloorChina Insurance Group Building141 Des Voeux Road CentralHong KongAs to PRC lawGuangdong Sun Law Firm6th,7th,16th FloorPublic Transport B
47、uildingNo.1 Lianhua Branch RoadFutian DistrictShenzhen,Guangdong ProvincePRCAUDITORPrism Hong Kong LimitedCertified Public AccountantsUnits 1903-1905,19/F.8 Observatory RoadTsim Sha TsuiHong KongCORPORATE INFORMATION公司資料11中國通天酒業集團有限公司 二零二四年年報主要往來銀行中國銀行（香港）有限公司中銀大廈分行香港花園道1號中國農業銀行通化縣支行中國吉林省通化縣快大茂鎮長征路6
48、79號公司網站http:/www.tontine-.hk（網站內的資料並非本年報的一部分）股份資料上市日期：二零零九年十一月十九日股份名稱：通天酒業截至二零二四年十二月三十一日 已發行股份數目：301,561,800股每手買賣單位：2,000股股份代號389財政年度結算日十二月三十一日PRINCIPAL BANKERSBank of China(Hong Kong)LimitedBank of China Tower Branch1 Garden RoadHong KongAgricultural Bank of ChinaTonghua County BranchNo.679 Changzh
49、eng RoadKuaidamao TownTonghua CountyJinlin ProvincePRCCOMPANY WEBSITEhttp:/www.tontine-.hk(information on the website does not form part of this annual report)SHARE INFORMATIONListing date:19 November 2009Stock name:Tontine WinesNumber of issued shares as at 31 December 2024:301,561,800 sharesBoard
50、lot:2,000 sharesSTOCK CODE389FINANCIAL YEAR-END DATE31 December12CHINA TONTINE WINES GROUP LIMITED ANNUAL REPORT 2024MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析FINANCIAL REVIEWIn 2024,the wine industry continued its trend from the past three years and remained in a downturn.This,coupled with a sluggi
51、sh domestic economy as a whole,has dented consumer sentiment and spending power,leaving the industry languishing at the bottom.For the year ended 31 December 2024(the“Year under Review”),the Group recorded total revenue of RMB107,988,000,representing a decrease of approximately 42.9%as compared to t
52、he previous year,mainly due to the inability to obtain financial information from the Subject Subsidiaries,which did not include sales revenue from the Tonghua region(accounting for 21%for the full year 2023).In particular,the sales revenue of sweet wine and dry wine in aggregate accounted for 84.2%
53、of the Groups total revenue for the Year under Review,while the sales revenue of brandy and other wine products accounted for 15.8%.As the domestic demand for high-end wine products decreased amidst an uncertain economic outlook and a more cautious consumer sentiment,sales revenue from high-end wine
54、 products with higher gross profit margins declined significantly as a percentage of the Groups total revenue.During the year,the Groups gross profit decreased year-on-year to RMB7,361,000,with a gross profit margin of 7%.The decrease in gross profit was also attributable to the provision for invent
55、ory impairment of RMB4,554,000 based on the age of the inventory during the Year under Review.The following table shows the Groups gross profit,gross profit margin and change for the twelve months ended 31 December 2024:Twelve months ended 31 DecemberYear-on-yearchange截至十二月三十一日止十二個月20242023二零二四年二零二三
56、年與去年相比 Overall gross profit(RMB000)總體毛利（人民幣千元）7,36128,149-73.8%Overall gross profit margin總體毛利率7%14.9%-7.9%財務回顧葡萄酒行業於二零二四年仍持續過往三年趨勢，處於低迷狀況，加上國內整體經濟疲軟，消費意願和消費力均受到制約，令行業繼續於谷底徘徊。截至二零二四年十二月三十一止年度（回顧年度），集團錄得總收益人民幣107,988,000元，較上年度下降約42.9%，主要是因標的附屬公司財務資料無法獲取，未包含通化地區的銷售收入（二零二三年全年佔比21%）。其中，甜葡萄酒及乾葡萄酒的銷售收入於回顧
57、年度合共佔集團總收入的84.2%。白蘭地及其他酒類產品的銷售收入佔比為15.8%。面對經濟前景不明朗，市場消費趨向審慎，令國內對高端葡萄酒產品需求減少，集團毛利較高的高端葡萄酒銷售佔比顯著調低，於年度內集團的毛利同比降低至人民幣7,361,000元，毛利率為7%。毛利降低的另一個原因是於回顧年度對存貨按照庫齡計提了存貨跌價準備4,554,000元。下表載列本集團於截至二零二四年十二月三十一日止十二個月本集團毛利、毛利率及比較：MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析13中國通天酒業集團有限公司 二零二四年年報回顧年度，集團銷售及分銷開支為人民幣7,9
58、47,000元，較去年同期下降79.5%，因本年度標的附屬公司財務數據無法獲取，該費用僅包含煙臺附屬公司。集團因為市場消費模式轉變，加大與多個線上媒體平臺合作線上營銷，有效鞏固集團產品的市場覆蓋?；仡櫮甓?，集團繼續拓寛線上營銷渠道的策略，並與若干知名網絡紅人簽約以擴大銷售及提升品牌知名度等?；仡櫮甓?，集團的行政及其他營運支出為人民幣12,322,000元，同比去年下降63%，主要是因本年度因標的附屬公司數據無法獲取，僅包含煙臺附屬公司和母公司數據。於回顧年度，因無法獲取標的附屬公司財務資料導致對部分附屬公司的流動資產進行全額減值人民幣132,143,000元，長期資產減值人民幣118,813,
59、000元，共計減值人 民幣250,956,000元。截至二零二四年十二 月三十一日，標的附屬公司不再並表產生處置淨負債的收益人民幣71,931,000元。於 截 至 二 零 二 四 年 十 二 月 三 十 一 日 止 年度，集團錄得虧損及全面開支總額人民幣347,437,000元。During the Year under Review,the Groups selling and distribution expenses amounted to RMB7,947,000,representing a year-on-year decrease of 79.5%,which due to t
60、he inability to obtain financial information from the Subject Subsidiaries for the current year,and only include expenses from the Yantai Subsidiaries.In view of the change in consumption patterns,the Group strengthened cooperation with various online media platforms for online marketing,which effec
61、tively consolidated the market coverage of the Groups products.During the Year under Review,the Group continued its strategy to broaden online marketing channels and contracted with several well-known internet celebrities to expand sales and increase brand awareness.For the Year under Review,the Gro
62、ups administrative and other operating expenses amounted to RMB12,322,000,representing a year-on-year decrease of 63%,primarily because data from Subject Subsidiaries was unavailable this year,only including data from the Yantai Subsidiary and the parent company.During the Year under Review,the unav
63、ailability of financial information of Subject Subsidiaries resulted in a full impairment of current assets amounting to RMB132,143,000 and an impairment of long-term assets amounting to RMB118,813,000 were made,totaling an impairment of RMB250,956,000.As of 31 December 2024,gains from the disposal
64、of net liabilities were RMB71,931,000 as Subject Subsidiaries was no longer consolidated.For the Year ended 31 December 2024,the Group recorded a loss and total comprehensive expense of RMB347,437,000.MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析14CHINA TONTINE WINES GROUP LIMITED ANNUAL REPORT 2024行業概
65、覽於二零二四年度，中國經濟繼續穩步回暖，但全球經濟不確定性及國內消費市場調整帶來的挑戰依然影響著各大消費品行業的表現。根據國家統計局數據，社會消費品零售總額達人民幣48.3萬億元，同比增長3.5%。1其中，煙酒類零售總額約為人民幣6,159億元，同比增長5.7%。2儘管消費市場呈現回暖跡象，國內葡萄酒行業於二零二四年度依然低迷，復蘇進程依舊尚未啟動。根據工信部發佈的數據，中國規模以上酒類企業葡萄酒年產量合計為11.8萬千升，同比下降14.5%。3這一降幅不僅未見減緩，且比市場預期更為嚴重。消費者購買葡萄酒的意願受到經濟放緩及消費信心未完全恢復的影響，葡萄酒的需求持續探底。此外，近年來，國內葡萄
66、酒產業面臨原材料成本上漲及生產費用增加的雙重壓力，進一步加劇了行業的困難。低迷的市場環境使得葡萄酒行業於二零二四年的重點圍繞在去庫存。經營回顧二零二四年國內生產總值達人民幣1,349,084億元，假設以相同基價計算，同比增長5.0%。4儘管市場於整個年度繼續回暖，消費者信心和購買意願仍然受到經濟增速放緩的負面影響，消費者行為轉向更加理性和審慎的趨勢愈加明顯。於葡萄酒行業，儘管進口葡萄酒市場略有回升，國內葡萄酒需求仍未得到顯著增長，市場環境依然充滿挑戰。葡萄酒產量全年降至118,000百升的歷史低點，突顯行業持續面臨的困難。1.https:/ REVIEWThroughout 2024,Chin
67、as economy maintained a steady recovery.However,the landscape was still marked by challenges stemming from global economic uncertainties and shifts within the domestic consumer market,which impacted the performance of major consumer goods sectors.According to data from the National Bureau of Statist
68、ics,the total retail sales of consumer goods in reached RMB48.3 trillion,a year-on-year increase of 3.5%.1 Among them,the total retail sales of tobacco and alcohol was approximately RMB615.9 billion,a year on-year increase of 5.7%.2Although the consumer market showed signs of recovery,the domestic w
69、ine industry remained sluggish throughout 2024,still waiting for the recovery process to begin.According to data released by the Ministry of Industry and Information Technology,the wine production of Chinas large-scale alcohol enterprises totaled 118,000 kiloliters for the year,marking a year-on-yea
70、r decrease of 14.5%.3 This decline was not only unmitigated but also more severe than market expectations.The economic slowdown and the incomplete recovery of consumer confidence have impacted consumers willingness to purchase wine,leading to a continued slump in demand.Additionally,in recent years,
71、the domestic wine industry has faced dual pressures from rising raw material costs and increased production expenses,further exacerbating the industrys challenges.Under such market conditions,the focus of the wine industry in 2024 remained on destocking.OPERATION REVIEWChinas GDP reached RMB134,908.
72、4 billion in 2024,a year-on-year increase of 5.0%assuming same based prices.4Although the market continued to recover throughout the year,the slowdown in economic growth still negatively affected consumer confidence and willingness to purchase.A shift towards more rational and cautious consumer beha
73、vior has become more pronounced.In the wine sector,while there was a minor rebound in the imported wine market,the demand for domestic wines did not see a substantial increase,presenting a persistently challenging market environment.Wine production decreased to a historical low of 118,000 hectoliter
74、s over the year,underscoring the sustained difficulties within the industry.MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析15中國通天酒業集團有限公司 二零二四年年報經營指標回顧存貨週轉日數集團於期末的存貨週轉日數約為329.24日，去年同期則為408日，主要由於有效利用了原有庫存，加大了買贈力度，消耗滯留的存貨用於鼓勵客戶推銷我們的產品銷售。貿易應收賬款週轉日數於二零二四年十二月三十一日，本集團貿易應收賬款週轉日數為327.74日，貿易應收賬款為人民幣76,680,000元。應對
75、該等市場情況，本集團持續推動營銷及品牌推廣，旨在提升品牌影響力及知名度。本集團持續專注於培育線上渠道，確保品牌能深受更廣泛消費群體的認可。同時，本集團在持續探索與其他企業合作機會，亦嘗試擴大其產品種類，採用更靈活的方式以跟上日新月異的消費習慣及偏好。本集團將持續優先發展銷售平臺及渠道，探索創新的銷售方式，並不斷提升其產品的市場滲透率及消費者忠誠度。產品產量及銷售截至二零二四年十二月三十一日止期間，集團位於吉林省通化的生產基地產出數量無法獲取數據統計，去年同期產出1,543.6公噸；於山東白洋河的生產基地產出5,383公噸各類產品，去年同期4,831公噸，相較去年同期增加約11%?；仡櫰陂g，華東
76、地區穩健的經濟發展，成熟紅酒消費文化和相對較高人均收入，繼續支撐這個市場的葡萄酒消費。於回顧期內，華東地區市場錄得收入為人民幣81,825,000元，於集團總收入中佔比最大，達75.8%。華北地區佔比14.3%，中南地區佔比6.5%，西南地區部佔比2.9%。BUSINESS INDICATOR REVIEWInventory Turnover DaysThe inventory turnover days of the Group as at the end of the Period stood at approximately 329.24 days as compared with 40
77、8 days in the corresponding period of last year,mainly due to effectively use of the inventory originally kept and use them as promotional gifts in order to encourage more sales.Trade Receivables Turnover DaysAs at 31 December 2024,the trade receivables turnover days of the Group stood at 327.74 day
78、s,and the trade receivables was RMB76,680,000.In response to these market conditions,the Group sustained its efforts in marketing and brand promotion,aiming to boost brand influence and visibility.The group continues to focus its operations on cultivating online channels,ensuring that the brand is d
79、eeply recognized by a broader consumer base.While continuing to explore partnership opportunities with other businesses,the group is also attempting to expand its product variety,adopting a more flexible approach to keep pace with the rapidly changing consumer habits and preferences.The group will c
80、onsistently prioritize the development of sales platforms and channels,explore innovative sales methods,and continuously enhance the market penetration and consumer loyalty of its products.OUTPUT VOLUME AND SALESFor the period ended 31 December 2024,data on the output volume of the production base l
81、ocated in Tonghua,Jilin Province,could not be obtained,as compared to 1,543.6 tonnes for the same period last year.The output volume of all categories of products manufactured by the production base in Baiyanghe,Shandong Province reached 5,383 tonnes,representing an increase of approximately 11%as c
82、ompared to 4,831 tonnes for the same period last year.During the Period under Review,the steady economic development,the mature wine consumption culture and the relatively high per capita income the Eastern Region continued to support the wine consumption in the market.During the Period under Review
83、,the Group recorded a revenue of RMB81,825,000 in the Eastern Region market and with the largest proportion of 75.8%in the Groups total revenue.The revenue share of the Northern Region accounted for 14.3%,the South-Central Region accounted for 6.5%,and the South-West Region accounted for 2.9%.MANAGE
84、MENT DISCUSSION AND ANALYSIS管理層討論及分析16CHINA TONTINE WINES GROUP LIMITED ANNUAL REPORT 2024回顧期間，集團繼續拓寬線上營銷渠道的策略，並與多位知名網絡紅人簽約以獲得更大的銷售成效，二零二四年全年線上佔55%，線下佔45%。業務前景於二零二四年三月，中國商務部發佈公佈，終止對原產於澳洲的進口葡萄酒徵收反傾銷稅及反補貼稅。於二零二四年，中國的葡萄酒進口量達2.8億升，進口額為人民幣115.5億元，分別同比增長13.6%及37.2%。5受惠於利好政策及市場認可，澳洲葡萄酒超越法國重新奪回中國最大葡萄酒進口產地的地
85、位。本集團認為，取消 雙反 政策將對未來整個中國葡萄酒市場產生積極影響。與略顯疲軟的傳統幹紅葡萄酒市場相比，如白葡萄酒、起泡葡萄酒、低醇葡萄酒及桃紅葡萄酒等部分細分品類呈現出增長趨勢。本集團預計多元化將成為未來的關鍵趨勢。線上消費為行業發展的重要驅動力。根據尼爾森IQ的數據，於二零二四年上半年，快速消費品整體呈現正向增長態勢，線上渠道增長率為9.6%。其中，線上及線下渠道的葡萄酒銷售均維持良好發展，而社交電商平臺的增長率略高一籌。6年輕消費群體中，如直播等新型銷售模式已成為推廣的有效途徑。隨著數字營銷方法的進一步創新，線上渠道對葡萄酒銷售的重要性將愈加突出。整體而言，儘管中國經濟於二零二四年顯
86、示復甦的跡象，但葡萄酒行業的復甦之路仍困難重重。進口葡萄酒市場的回彈為國產葡萄酒品牌提供了機遇，但本集團整體上仍面臨如市場需求疲弱及成本上升等多重挑戰。未來，本集團的增長將取決於品牌創新、市場靈活性、多元化類別及渠道建設。During the Period under Review,the Group continued to broaden online marketing channel strategy and signed contracts with several well-known internet celebrities to achieve better sales per
87、formance,with online sales accounting for 55%and offline sales accounting for 45%throughout the year 2024.BUSINESS PROSPECTSIn March 2024,Chinas Ministry of Commerce issued an announcement to terminate the collection of anti-dumping and countervailing duties on imported wines originating from Austra
88、lia.Throughout 2024,Chinas wine imports reached 280 million liters with an import value of 11.55 billion yuan,marking year-on-year increases of 13.6%and 37.2%,respectively.5 Australian wines,benefiting from favorable policies and market recognition,surpassed France to regain their position as Chinas
89、 largest source of wine imports.The group believes that the cancellation of the“double-reverse”policy will positively impact the entire Chinese wine market in the future.Compared with the traditional dry red wine market,which is slightly sluggish,some niche categories such as white wine,sparkling wi
90、ne,low-alcohol wine,and ros wine have shown a growing trend.The Group expects that this diversification will be a key trend in the future.Online consumption is an important driving force for industry growth.According to Nielsen IQ data,fast-moving consumer goods as a whole showed a positive growth t
91、rend in the first half of 2024,with an online channel growth rate of 9.6%.Among them,wine sales maintained good growth in both online and offline channels,and the growth rate of social e-commerce platforms was higher.6 Among young consumer groups,new sales models such as live streaming have become a
92、n effective means of promotion.With the further innovation of digital marketing methods,online channels will highlight their importance in wine sales increasingly.Overall,although Chinas economy showed signs of recovery in 2024,the road to recovery in the wine industry is still bumpy.The rebound of
93、the imported wine market has provided opportunities for domestic wine brands,but the Group as a whole still faces multiple challenges such as weak market demand and rising costs.In the future,the Groups growth will depend on the brands innovation,market flexibility,and diversified categories and cha
94、nnel construction.5.https:/ DISCUSSION AND ANALYSIS管理層討論及分析17中國通天酒業集團有限公司 二零二四年年報ADDRESSING ALL CONCERNS RAISED BY THE COMPANYS AUDITORSIn the audited report of the Company for the year ended 31 December 2024,the Companys auditors issued“an except for opinion”in relation to the deconsolidation,pleas
95、e refer to the auditors report for full explanation.In relation to this issue and other matters which the Companys auditors have raised their concerns,the management would like to provide the following comments:1.Loss of control of certain subsidiariesAs noted above,the Companys subsidiaries held un
96、der by the Former EDsl were under loss of control and deconsolidation of the subsidiaries has to be adopted for accounting purposes.Under these circumstances,the Companys auditors were unable to perform sufficient and appropriate audit procedures to satisfy ourselves as to(i)whether the gain arising
97、 from the deconsolidation of Subject Subsidiaries of RMB71,931,000 was free from material misstatements;and(ii)whether the segment information and other related disclosure in relation to the profit or loss items of the Groups consolidated financial statements for the year ended 31 December 2024 were
98、 free from material misstatements.The Company has conducted company search for the Subject Subsidiaries so as to form understand present situations of the Subject Subsidiaries and uncovered that the Former EDs have taken some unauthorised and illegal transactions for some of the Subject Subsidiaries
99、.In addition,the Company has instructed a PRC lawyer to further take investigations in respect of the Subject Subsidiaries and shall advise the Company further the appropriate to actions.Further announcement(s)will be made by the Company as and when appropriate to keep the shareholders informed of t
100、he material developments in the above matters.回應本公司核數師提出的所有關注事項於本公司截至二零二四年十二月三十一日止年度的經審核報告中，本公司核數師就終止綜合入賬出具 保留意見，詳情請參閱核數師報告。就此事項及本公司核數師提出關注的其他事項，管理層謹此提供以下意見：1.失去若干附屬公司控制權如上所述，本公司對由前執行董事持有的附屬公司已失去控制權，並須終止綜合入賬附屬公司以符合會計目的。於該等情況下，本公司核數師無法執行足夠及適當的審計程序，以達致以下事項：(i)有關終止綜合入賬標的附屬公司所產生的收益人民幣71,931,000元是否不存在重大錯
101、誤陳述；及(ii)有 關 本 集 團 截 至 二 零 二 四 年 十 二 月三十一日止年度的綜合財務報表中損益項目的分部資料及其他相關披露是否不存在重大錯誤陳述。本公司已對標的附屬公司進行公司查詢，以了解標的附屬公司的現況，並發現前執行董事對部分標的附屬公司進行若干未經授權及非法交易。此外，本公司已委託中國律師進一步對標的附屬公司進行調查，並將就適當行動向本公司提供進一步意見。本公司將於適當時另行刊發公告，以便讓股東了解上述事項的重大進展。MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析18CHINA TONTINE WINES GROUP LIMITED
102、ANNUAL REPORT 2024In order to identify the internal control weaknesses which may directly or indirectly have led to the illegal transfer of the Subject Subsidiaries mentioned above,the Companys management has instructed and appointed an Internal Control Reviewer,namely Cheng&Cheng Risk Advisory Limi
103、ted（鄭鄭風險管理諮詢服務有限公司）,to review the Companys internal control policies and procedures for the preceding years and the year concerned and report to the Companys audit committee.These weaknesses are then confirmed and recognised by the management and thereafter rectified or modified by new internal cont
104、rol policies and procedures.The management shall also consider to obtain further steps/information to clear and dispose of this qualification,hopefully before the commencement of the audits of the Companys financial statements for the year ending 31 December 2025.2.Material uncertainty related to go
105、ing concernOn a basis that the auditors have modified their opinions in the going concern matters,the auditors have advised that the Group incurred a net loss attributable to equity owners of the Company of approximately RMB321,302,000 for the year ended 31 December 2024 and as of that date,the Grou
106、p has current liabilities of RMB60,109,000 while available bank and cash balances was RMB755,000.This condition,along with other matters as set forth in Note 2,indicates the existence of a material uncertainty which may cast significant doubt on the Groups ability to continue as a going concern.Alon
107、g with the measures to comply with 13.24 of the Listing Rules,the management is now looking for more business opportunities to improve the Groups businesses and generate more income.In the meantime,they are also looking for the possibilities to restructure or dispose of some unutilised assets even i
108、n the Subject Subsidiaries.Furthermore,the Group has undergo actions and measures to minimise its operating costs,including the reduction of the directors remunerations and improved internal control in authorisation and payment cycles.Based on the above and subject to the successful restructuring an
109、d resumption of the Company,the management strongly believes that the going concern matters will be solved,as the above said measures and activities shall produce significant incomes and profits to maintain the Companys survival and ongoing operations.為識別可能直接或間接導致上述標的附屬公司非法轉讓的內部控制缺陷，本公司管理層已指示並委任內部控制
110、審核員，即鄭鄭風險管理諮詢服務有限公司，對本公司過去數年以及相關年度的內部控制政策及程序進行審核，並向本公司審核委員會報告。其後管理層確認並了解該等缺陷，並通過新的內部控制政策及程序加以修正或整改。管理層亦應考慮進一步採取措施取得資料，以釐清及處理此保留意見，希冀於本公司截至二零二五年十二月三十一日止年度的財務報表開始審核前完成。2.與持續經營有關之重大不確定性基於核數師對持續經營事項並無發表意見，核數師已告知本集團錄得截至二零二四年十二月三十一日止年度本公司權益擁有人應佔淨虧損約為人民幣321,302,000元，截至該日，本集團的流動負債為人民幣60,109,000元及可用銀行及現金結餘為人
111、民幣755,000元。此情況以及附註2所載其他事項顯示存在重大不確定性，可能對本集團的持續經營能力構成重大疑問。除遵守上市規則第13.24條的措施外，管理層現正尋找更多商機以改善本集團業務並創造更多收入。與此同時，彼等亦尋找重組或出售若干標的附屬公司中未被利用的資產的可能性。此外，本集團已採取行動及措施以最小化其營運成本，包括減少董事的薪酬以及改善授權及付款周期的內部控制?；渡衔乃黾按竟境晒χ亟M及復牌，管理層堅信持續經營事項將得以解決，原因為上述措施及活動將產生可觀的收入及利潤，以維持本公司的生存及持續運營。19中國通天酒業集團有限公司 二零二四年年報DIRECTORS AND SEN
112、IOR MANAGEMENT 董事及高級管理層EXECUTIVE DIRECTORSMr.Sun Jialiang（孫佳良）(“Mr.Sun”),aged 37,was appointed as executive director with effect on 30 September 2024.He graduated from the School of Economic Law of Southwest University of Political Science and Law（西南政法大學經濟法學院）with a bachelor degree in Laws in 2010.H
113、e also obtained the PRC legal professional qualification certificate（法律職業資格）in 2010,the PRC certification of securities professional（證券從業資格）in 2011,and fund qualification certificate（基金從業資格）in 2016.Mr.Sun is an executive director of Zhuhai Yingchuang New Energy Technology Company Limited*（珠海映創新能源科技有
114、限公司）,a company engaged in the construction of new energy power plant and electricity generation,since March 2019,and an executive director of Tawei(Zhuhai)Venture Capital Company Limited*（拓為（珠海）創業投資有限公司）,a company principally engaged in investment management,consulting and venture capital,since Augu
115、st 2020.Mr.Sun is a standing committee member of the 5th Committee of Jinwan District,Zhuhai City,Guangdong Province of the Chinese Peoples Political Consultative Conference,vice president and secretary of Southwest University of Political Science and Law Alumni Association since December 2021,and g
116、overnment investment fund expert of the Jinwan District(Development Zone),Zhuhai City since October 2023.Mr.Huang Chuwu（黃楚武）(“Mr.Huang”),aged 34,was appointed as executive Director with effect on 30 September 2024.He graduated from Hunan Agricultural University with a bachelor degree of law in econo
117、mic laws in June 2016.As at the date of this report and within the meaning of Part XV of the Securities and Futures Ordinance(Cap.571)(the“SFO”),Mr.Huang are members and directors of Bon Voyage Development Limited(“Bon Voyage”).As of the date of this report,Bon Voyage held a total of 40,000,000 shar
118、es of the Company,representing approximately 13.27%of the issued share capital of the Company.Bon Voyage was indirectly beneficially owned by Mr.Huang as to 30%and two other individuals.執行董事孫佳良先生（孫先生），37歲，自二零二四年九月三十日起已獲委任為執行董事。彼於二零一零年畢業於西南政法大學經濟法學院，獲得法學學士學位。彼亦於二零一零年獲得中國法律職業資格、於二零一一年獲得中國證券從業資格及於二零一六年
119、獲得基金從業資格。孫先生自二零一九年三月起擔任珠海映創新能源科技有限公司（一家從事新能源發電廠建設及發電的公司）的執行董事及自二零二零年八月起擔任拓為（珠海）創業投資有限公司（一家主要從事投資管理、諮詢及風險資本的公司）的執行董事。孫先生現任中國人民政治協商會議第五屆廣東省珠海市金灣區委員會常務委員，自二零二一年十二月起任西南政法大學校友會副會長兼秘書，及自二零二三年十月起為珠海市金灣區（開發區）政府投資基金專家。黃楚武先生（黃先生），34歲，自二零二四年九月三十日起已獲委任為執行董事。彼於二零一六年六月畢業於湖南農業大學，獲得經濟法學學士學位。於本報告日期及根據香港法例第571章證券及期貨條
120、例（證券及期貨條例）第XV部之定義，黃先生為順途發展有限公司（順途）的其中一股東及董事。截至本報告日期，順途持有合共40,000,000股本公司股份，約佔本公司已發行股本的13.27%。順途由黃先生（持股30%）與兩位個別人士間接實益擁有。DIRECTORS AND SENIOR MANAGEMENT 董事及高級管理層20CHINA TONTINE WINES GROUP LIMITED ANNUAL REPORT 2024非執行董事李瑜鴻先生（李先生），26歲，於二零二二年八月三十一日獲委任為本公司非執行董事，彼畢業於澳洲悉尼大學理科學士，主修營養學及生物代謝學，李先生於二零二一年九月至今擔
121、任深圳三順製藥有限公司的副總經理。李先生為天源國際投資有限公司（天源）的成員及董事之一，該公司持有本公司主要股東上昇國際有限公司（上昇國際）49%的權益。朱明徽先生（朱先生），27歲，於二零二二年八月三十一日獲委任為本公司非執行董事，彼畢業於美國布來恩特大學理科學士，主修金融及經濟，朱先生現任深圳市茂安源投資有限公司的投資經理。朱先生為天源國際投資有限公司（天源）的成員及董事之一，該公司持有本公司主要股東上昇國際有限公司（上昇國際）49%的權益。獨立非執行董事李良先生，57歲，自二零二四年九月三十日起已獲委任為獨立非執行董事。彼於二零一四年七月獲得大連理工大學土木工程學士學位。彼現任深圳廣信建
122、設（集團）有限公司（一家主要從事建築裝修的設計及施工的公司）的總裁。彼已取得多項建築及景觀專業資格及證書，包括於二零一五年十二月獲得景觀建築高級工程師證、於二零二一年三月獲得二級花卉園藝師證、於二零二四年七月獲得生態環境監測員證、於二零二一年十一月獲得高級病蟲害防治員證、於二零二一年四月獲得二級花境師證、於二零二零年三月獲得高級植保員證。於過去數年，彼亦榮獲建築景觀工程方面的多個獎項。NON-EXECUTIVE DIRECTORS Mr.Li Jerry Y.（李瑜鴻）(“Mr.Li”)aged 26,was appointed as our nonexecutive Director on
123、31 August 2022.He graduated from the University of Sydney in Australia with a Bachelor degree of Science,majoring in Nutrition and Metabolism.From September 2021,Mr.Li served as the vice general manager of Shenzhen Sanshun Pharmaceutical Limited*（深圳三順製藥有限公司）.Mr.Li is one of the members and directors
124、 of Sky Source International Investments Limited(“Sky Source”)which holds 49%of shareholding of Up Mount International Limited(“Up Mount”),a substantial shareholder of the Company.Mr.Zhu Minghui（朱明徽）(“Mr.Zhu”)aged 27,was appointed as our nonexecutive Director on 31 August 2022.He graduated from Brya
125、nt University in the United States of America,with a Bachelor degree of Science in Business Administration,majoring in Finance and Economics.Mr.Zhu is currently the Investment Manager in Shenzhen Maoanyuan Investments Company Limited*（深圳市茂安源投資有限公司）.Mr.Zhu is one of the members and directors of Sky S
126、ource International Investments Limited(“Sky Source”)which holds 49%of shareholding of Up Mount International Limited(“Up Mount”),a substantial shareholder of the Company.INDEPENDENT NON-EXECUTIVE DIRECTORSMr.Li Liang（李良）,aged 57,was appointed as the independent non-executive Director with effect on
127、 30 September 2024.He obtained a bachelor degree in civil engineering from Dalian University of Technology in July 2014.He is currently the president of Shenzhen Guangxin Construction(Group)Co.,Ltd.（深圳廣信建設（集團）有限公司）,a company principally engaged in design and construction of building decorations.He h
128、as obtained a number of professional qualifications and certificates on building and landscape,including the landscape architecture senior engineer certificate obtained in December 2015,grade 2 flower landscape artist certificate obtained in March 2021,ecological environment inspector certificated o
129、btained in July 2024,senior pest controller certificate obtained in November 2021,level 2 flower border engineer certificate in April 2021,senior plant protection worker certificate obtained in March 2020.He was also won a number of awards in building landscape engineering over the past few years.DI
130、RECTORS AND SENIOR MANAGEMENT 董事及高級管理層21中國通天酒業集團有限公司 二零二四年年報獨立非執行董事雷美嘉女士（雷女士），40歲，自二零二四年九月三十日起已獲委任為獨立非執行董事。彼於二零零六年畢業於香港中文大學，獲得工商管理學士學位，現為香港會計師公會會員。雷女士擁有逾17年財務管理及企業融資經驗。自二零一八年九月二十七日起，雷女士為聯交所主板上市公司飛魚科技國際有限公司（股份代號：1022）的財務總監兼聯席公司秘書。目前，雷女士亦為聯交所GEM上市公司易和國際控股有限公司（股份代號：8659）的公司秘書及聯交所GEM上市公司中國宏光控股有限公司（股份代號：
131、8646）的聯席公司秘書。雷女士亦分別自二零一七年四月二十一日及二零二三年九月十九日起擔任聯交所主板上市公司中國唐商控股有限公司（股份代號：674）及國富創新有限公司（股份代號：290）的獨立非執行董事。於二零一六年十月至二零一八年七月，彼為聯交所主板上市公司國銳生活有限公司（前稱國銳地產有限公司）（股份代號：108）的財務總監兼公司秘書，該公司從事物業發展及投資。自二零一四年三月至二零一六年五月，彼為勒泰商業地產有限公司的公司秘書兼財務總監，該公司之前於聯交所主板上市股份代號為112，從事物業發展及投資。陳偉傑先生（陳先生），42歲，自二零二四年九月三十日起已獲委任為獨立非執行董事。彼取得澳
132、洲科廷科技大學的訊息系統學士學位及會計碩士學位。彼自二零一七年一月起獲委任為中國人民政治協商會議第九屆及第十屆茂名市委員會委員。彼於資訊科技、會計、金融、企業管治、策略規劃以及併購方面擁有豐富經驗。INDEPENDENT NON-EXECUTIVE DIRECTORSMs.Lui Mei Ka（雷美嘉）(“Ms.Lui”)aged 40,was appointed as the independent non-executive Director with effect on 30 September 2024.She graduated from The Chinese University
133、 of Hong Kong with a degree in bachelor of business administration in 2006 and is currently a member of the Hong Kong Institute of Certified Public Accountants.Ms.Lui has over 17 years of experience in financial management and corporate finance.Since 27 September 2018,Ms.Lui has been the chief finan
134、cial officer and a joint company secretary of Feiyu Technology International Company Limited(stock code:1022),a company listed on the Main Board of the Stock Exchange.Currently,Ms.Lui is also the company secretary of Yik Wo International Holdings Limited(stock code:8659),a company listed on the GEM
135、of the Stock Exchange,and a joint company secretary of China Hongguang Holdings Limited(stock code:8646),a company listed on the GEM of the Stock Exchange.Ms.Lui has also been an independent non-executive director of China Tangshang Holdings Limited(stock code:674)and GoFintech Innovation Limited(st
136、ock code:290),companies listed on the Main Board of the Stock Exchange,since 21 April 2017 and 19 September 2023 respectively.From October 2016 to July 2018,she was the chief financial officer and company secretary of GR Life Style Company Limited(formerly known as GR Properties Limited)(stock code:
137、108),a company listed on the Main Board of the Stock Exchange and which is engaged in property development and investment.From March 2014 to May 2016,she was the company secretary and financial controller of LT Commercial Real Estate Limited,a company previously listed on the Main Board of the Stock
138、 Exchange under the stock code:112,which was engaged in property development and investment.Mr.Chan Wai Kit（陳偉傑）(“Mr.Chan”)aged 42,was appointed as the independent non-executive Director with effect on 30 September 2024.He obtained a bachelor degree in information systems and a master degree of acco
139、unting from Curtin University of Technology,Australia.He has been appointed as a committee member of the 9th and 10th Committee of Maoming City of The Chinese Peoples Political Consultative Conference since January 2017.He has extensive experience in information technology,accounting,finance,corpora
140、te governance,strategic planning,as well as mergers and acquisitions.DIRECTORS AND SENIOR MANAGEMENT 董事及高級管理層22CHINA TONTINE WINES GROUP LIMITED ANNUAL REPORT 2024獨立非執行董事陳先生曾於二零一四年十月至二零一八年十一月擔任聯交所GEM上市公司奧栢中國集團有限公司（現名為悟喜生活國際控股集團有限公司）（股份代號：8148）的執行董事、授權代表及合規主任。彼曾於二零一五年六月至二零一六年七月擔任聯交所GEM上市公司寶聯控股有限公司（股份
141、代號：8201）的主席兼執行董事。彼亦曾於二零一六年七月至二零一六年八月擔任聯交所主板上市公司中國泰豐床品控股有限公司（現名為世茂服務控股有限公司）（股份代號：873）的執行董事。彼亦曾於二零一七年二月至二零一七年七月擔任聯交所主板上市公司綠色能源科技集團有限公司（股份代號：0979）的執行董事。彼亦曾於二零一七年五月至二零一八年四月擔任聯交所主板上市公司高雅光學國際集團有限公司（股份代號：0907）的執行董事。陳先生自二零二一年九月起擔任聯交所主板上市公司Vicon Holdings Limited（股份代號：3878）的獨立非執行董事。陳先生曾於二零一七年十二月至二零一八年十月擔任聯交所主
142、板上市公司匯銀控股集團有限公司（前稱共享經濟集團有限公司）（股份代號：1178）的獨立非執行董事，該公司於聯交所的上市地位自二零二四年八月十八日上午九時正起取消。彼曾於二零一八年一月至二零一八年七月擔任聯交所主板上市公司鼎和礦業控股有限公司（股份代號：705）的獨立非執行董事，公司於聯交所的上市地位自二零二零年二月五日上午九時正起取消。陳先生自二零二三年三月起擔任聯交所主板上市公司移動互聯（中國）控股有限公司（股份代號：1439）的執行董事，該公司於聯交所的上市地位自二零二四年八月十四日上午九時正起取消。INDEPENDENT NON-EXECUTIVE DIRECTORSMr.Chan wa
143、s an executive director,an authorised representative and a compliance officer of Aurum Pacific(China)Group Limited(now known as Wuxi Life International Holdings Group Limited)(stock code:8148),a company listed on the GEM of Stock Exchange from October 2014 to November 2018.He was the chairman and ex
144、ecutive director of PPS International(Holdings)Limited(stock code:8201),a company listed on the GEM of the Stock Exchange from June 2015 to July 2016.He was also an executive director of China Taifeng Beddings Holdings Limited(now known as Shimao Services Holdings Limited)(stock code:873),a company
145、listed on the Main Board of the Stock Exchange from July 2016 to August 2016.He was also an executive director of Green Energy Group Limited(stock code:0979),a Company listed on the Main Board of the Stock Exchange from February 2017 to July 2017.He was also an executive director of Elegance Optical
146、 International Holdings Limited(stock code:0907),a company listed on the Main Board of the Stock Exchange from May 2017 to April 2018.Mr.Chan has been an independent nonexecutive director of Vicon Holdings Limited(stock code:3878),a company listed on the Main Board of the Stock Exchange since Septem
147、ber 2021.Mr.Chan was also an independent non-executive director of Huiyin Holdings Group Limited(formerly known as Share Economy Group Limited)(stock code:1178),a company listed on the Main Board of the Stock Exchange from December 2017 to October 2018.The listing of the shares of Huiyin Holdings Gr
148、oup Limited was cancelled with effect from 9:00 a.m.on 18 August 2024.He was also an independent non-executive director of Ding He Mining Holdings Limited(stock code:705),a company listed on the Main Board of the Stock Exchange from January 2018 to July 2018.The listing of the shares of Ding He Mini
149、ng Holdings Limited on the Stock Exchange was cancelled with effect from 9:00 a.m.on 5 February 2020.He has been an executive director of Mobile Internet(China)Holdings Limited(stock code:1439),a company listed on the Main Board of the Stock Exchange,since March 2023.The listing of the shares of Mob
150、ile Internet(China)Holdings Limited on the Stock Exchange was cancelled with effect from 9:00 a.m on 14 August 2024.DIRECTORS AND SENIOR MANAGEMENT 董事及高級管理層23中國通天酒業集團有限公司 二零二四年年報SENIOR MANAGEMENTMs.Kang Huixin（康惠新）(“Ms.Kang”),aged 46,graduated from the School of Economics and Management,University o
151、f Science and Technology Beijing,majoring in accounting.Obtained the Chinese Certified Public Accountant qualification in 2005 and is currently a non-practising member of the Guangzhou Institute of Certified Public Accountants.She has 6 years of external audit experience and 16 years of experience i
152、n Huaweis financial report analysis and internal control management.From 2002 to 2008,she served as the senior audit manager of the Shenzhen branch of Tianjian Huazheng Zhongzhou Accounting Firm.From 2009 to 2024,she worked at Huawei Technologies Co.,Ltd.In the accounting management department of Hu
153、awei Finance,which she successively served as the Financial Manager of the Group Consolidated Reporting Department,the Senior Financial Manager of the Romania and Shenzhen Accounting Shared Services Center Reporting and Analysis Department,and the Director of the Operation Report and Accounting Mana
154、gement Department of the Group Reporting and Analysis Department.COMPANY SECRETARYMr.Lai Wai Hing（賴偉慶）(“Mr.Lai”),was appointed as the Company secretary of the Company from 18 November 2024.He graduated from Lingnan University and obtained Honour Diploma in Accountancy and is a fellow member of the A
155、ssociation of Chartered Certified Accountants.He was a tax manager in various international accounting firms and worked in several listed companies in Hong Kong as financial controller.Ms.Kwong Oi Man Patty（鄺藹文）(“Ms.Kwong”),holds a bachelors degree of commerce from Monash University in Australia and
156、 she is currently a member of Hong Kong Institute of Certified Public Accountants and CPA Australia.Ms.Kwong currently serves as a company secretary of China Tangshang Holdings Limited(stock code:0674)and company secretary of Huasheng International Holding Limited(stock code:1323),both of which are
157、listed on the Main Board of the Stock Exchange.Ms.Kwong has over 14 years of experience in auditing,accounting and company secretarial practice.高級管理層康惠新女士（康女士），46歲，畢業於北京科技大學經濟管理學院，主修會計學。彼於二零零五年獲得中國註冊會計師資格，目前為廣州註冊會計師協會的非執業會員。彼擁有6年外部核數經驗及16年華為財務報告分析及內部控制管理經驗。自二零零二年至二零零八年，彼擔任天健華證中洲會計師事務所深圳分所的高級核數經理。自二零
158、零九年至二零二四年，彼就職於華為技術有限公司。彼於華為財經賬務管理部先後擔任集團合併報告部的財務經理、羅馬尼亞及深圳賬務共享服務中心報告與分析部的高級財務經理，以及集團報告與分析部的經營報告核算管理部部長。公司秘書賴偉慶先生（賴先生），自二零二四年十一月十八日起獲委任為本公司的公司秘書。彼畢業於嶺南大學，並獲得會計榮譽文憑，並為特許公認會計師公會之資深會員。他曾在多家國際會計師事務所任職稅務經理，並在多家香港上市公司任職財務總監。鄺藹文女士（鄺女士），持有澳洲蒙納殊大學之商學士學位，現為香港會計師公會及澳洲會計師公會會員。鄺女士現任中國唐商控股有限公司（股份代號：0674）之公司秘書及華盛國際
159、控股有限公司（股份代號：1323）之公司秘書，該等公司均於聯交所主板上市。鄺女士於審計、會計及公司秘書實務方面擁有逾14年經驗。24CHINA TONTINE WINES GROUP LIMITED ANNUAL REPORT 2024DIRECTORS REPORT董事會報告The board of directors(the“Board”or the“Directors”)is pleased to present the Directors Report together with the annual report(the“Annual Report”)and the audited
160、financial statements of China Tontine Wines Group Limited(the“Company”)and its subsidiaries(collectively the“Group”)for the year ended 31 December 2024(the“Year”).PRINCIPAL ACTIVITIESThe Company is an investment holding company.The principal activities of the Group continue to be the production and
161、sales of grape wine in the mainland China.Revenue and contribution to operating profit are mainly derived from activities carried out in the mainland China.Particulars of the principal activities of the Companys principal subsidiaries are set out in note 38 to the consolidated financial statements.R
162、ESULTS AND DIVIDENDThe Groups profit for the year ended 31 December 2024 and the state of affairs of the Group at that date are set out in the consolidated financial statements on pages 106 to 188.The Directors do not recommend the payment of any final dividend to shareholders of the Company for the
163、 year ended 31 December 2024(2023:Nil).PROPERTY,PLANT AND EQUIPMENTDuring the Year,the additions of approximately RMB540,000 in property,plant and equipment was mainly for the expansion and enhancement of the Groups production capability.Details of movements in property,plant and equipment of the Gr
164、oup during the Year are set out in note 17 to the consolidated financial statements.SHARE CAPITALDetails of movements in the Companys share capital during the Year are set out in note 28 to the consolidated financial statements and in the consolidated statement of changes in equity respectively.董事會（
165、董事會 或 董事）欣然提呈中國通天酒業集團有限公司（本公司）及其附屬公司（統稱 本集團）截至二零二四年十二月三十一日止年度（年度）的董事會報告、年報（本年報）和經審核財務報表。主要業務本公司為一家投資控股公司。本集團的主要業務仍然為在中國內地生產及銷售葡萄酒。收入及經營溢利貢獻主要來自在中國內地開展的業務。本公司主要附屬公司的主要業務詳情載於綜合財務報表附註38。業績及股息本集團截至二零二四年十二月三十一日止年度的溢利以及本集團於該日的財務狀況載於第106頁至188頁的綜合財務報表中。董事不建議就截至二零二四年十二月三十一日止年度向本公司股東派付任何末期股息（二零二三年：無）。物業、廠房及設備
166、年度內，本集團物業、廠房及設備添置約人民幣540,000元，主要是用以擴大和提升其產能。本集團年度內的物業、廠房及設備變動詳情，載於綜合財務報表附註17內。股本本公司年度內的股本變動詳情，分別載於綜合財務報表附註28及綜合權益變動表。DIRECTORS REPORT董事會報告25中國通天酒業集團有限公司 二零二四年年報購買、出售或贖回本公司的上市證券年度內，本公司及其任何附屬公司概無購買、出售或贖回本公司任何上市證券。優先購股權本公司的公司細則及百慕達法例並無有關優先購股權的條文，規定本公司須按比例向其現有股東發售新股份。購股權計劃本公司於二零零九年十一月十九日採納了一項購股權計劃，並於二零一
167、九年五月十日舉行的股東週年大會上採納一項新購股權計劃。於二零二三年六月十六日舉行的股東週年大會上採納一項新購股權計劃（二零二三年購股權計劃），並終止第二項購股權。此 二零二三年購股權計劃 十年期間內生效及有效，本公司可授予之購股權最高數目為294,054,800股。於二零二三年八月十八日舉行的特別股東大會批準，本公司股本中每十股每股面值0.01港元之已發行及未發行普通股合併為一股每股面值0.1港元之合併股份，本公司可授予之購股權最高數目更新為29,405,480股。於二零二三年十二月十五日，本公司授出每股面值0.10港元之普通股合共29,405,480於本公司十位全職僱員。PURCHASE,S
168、ALE OR REDEMPTION OF THE COMPANYS LISTED SECURITIESNeither the Company nor any of its subsidiaries had purchased,sold or redeemed any of the Companys listed securities during the Year.PRE EMPTIVE RIGHTSThere are no provisions for pre-emptive rights under the Companys bye-laws or the laws of Bermuda,
169、which would oblige the Company to offer new Shares on a pro-rata basis to its existing shareholders.SHARE OPTION SCHEMESThe Company adopted a share option scheme on 19 November 2009.At the annual general meeting held on 10 May 2019,the Company adopted another share option scheme.At the annual genera
170、l meeting held on 16 June 2023,the Company adopted the third share option scheme(the“2023 Share Option Scheme”)and terminated the second one.The“2023 Share Option Scheme”is valid and effective for a period of 10 years.The maximum number of share options that can be granted by the Company was 294,054
171、,800 shares.Special General Meeting was held on 18 August 2023 and approved Share Consolidation of every ten issued and unissued ordinary shares of par value of HK$0.01 each in the share capital of the Company into one Consolidation Share of par value of HK$0.1,the maximum number of share options th
172、at can be granted by the Company was revised to 29,405,480 shares.On 15 December 2023,the Company offered to grant share options to subscribe for an aggregate of 29,405,480 ordinary shares of HK$0.10 each to ten full time employees of the Company.DIRECTORS REPORT董事會報告26CHINA TONTINE WINES GROUP LIMI
173、TED ANNUAL REPORT 2024二零二三年購股權計劃二零二三年購股權計劃的主要條款概述如下。(i)二零二三年購股權計劃旨在透過向合資格參與者授出購股權，作為認可彼等對本集團所作貢獻或日後作出貢獻之獎勵或回報並為實現本集團及關聯實體業績目標而吸引、挽留及激勵高質素合資格參與者。(ii)合資格參與者包括：(a)僱員參與者、(b)關聯實體參與者、(c)服務提供者。在釐定各合資格參與者與參與資格之基準時，董事會主要考慮合資格參與者對日後對本集團之發展及增長可能給予本集團之發展及增長可能給予的貢獻之程度如下：(a)就僱員參與者而言，董事會一般會參考現行市場慣例及行業標準，考慮其一般工作表現、
174、時間投入（全職或兼職）、在本集團的服務年限、工作經驗、責任及或僱傭條件。(b)就關連實體參與者而言，董事會一般會考慮其參與及對本集團發展的貢獻及或為本集團帶來的利益及協同效應的程度。2023 SHARE OPTION SCHEMEThe principal terms of the 2023 Share Option Scheme are summarised below.(i)The purpose of the 2023 Share Option Scheme is to provide incentives or rewards to the Participants for their
175、 contribution to the Group and/or the Group to recruit and retain high-calibre employees and attract human resources that are valuable to the Group.(ii)Eligible participants include:(a)For Employee Participants;(b)Related Entity Participants;and(c)Service Providers.The basis of eligibility of any of
176、 the class of Participant to the grant of any options shall be determined by the Board from time to time on the basis of their contribution to the development and growth of the Group set below:(a)For Employee Participants:the Board will generally consider their general working performance,time commi
177、tment(full-time,or part time),length of their service within the Group,working experience,responsibilities and/or employment conditions with reference to the prevailing market practice and industry standard.(b)For Related Entity Participants,the Board will generally consider their participation and
178、contribution to the development of the Group and/or the extent of benefits and synergies brought to the Group.DIRECTORS REPORT董事會報告27中國通天酒業集團有限公司 二零二四年年報(c)服務供應商包括為本集團提供電子平臺服務及或其他服務的分銷商.對於服務供應商，董事會一般會考慮其經驗及專業知識、其為本集團提供服務的連續性和頻率、他們參與促進本集團業務，或在適當情況下對本集團長期增長的貢獻或潛在貢獻。以下是每個類別服務提供者的標識以及確定每個類別下個人資格的標準：(i)在
179、評估服務供應商是否持續及經常向本集團提供服務時，董事會應考慮所提供服務的長度（超過十二(12)個月的合約關係）和所提供服務的類型，以及該等服務的重覆性和規律性，並將該等指標與員工的表現進行基準比較，本集團向其提供股權獎勵的本集團高級職員及董事，同時考慮二零二三年購股權計劃的目的及聘用服務提供者的目標。(ii)在評估服務供應商是否在本公司的正常及日常業務過程中向本集團提供服務時，董事會或董事會委員會應考慮服務供應商向本集團提供的服務的性質，以 及 該 等 服 務 是 否 構 成如本公司財務報告所披露的，為本集團所開展業務的一部分或本集團的直接附屬業務。(c)Service Providers i
180、nclude those distributors that provide e-platform services and supply chain management services using blockchain technology.For Service Providers,the Board will generally consider their experience and expertise,continuity and frequency of their services to the Group,their involvement in promoting th
181、e business of the Group,or where appropriate,contribution or potential contribution to the long-term growth of the Group.Set below is the identification of each category of Service Providers and the criteria for determining a persons eligibility under each category:(i)In accessing whether the Servic
182、e Providers provides services to the Group on a continuing and recurring basis,the Board shall take into consideration the length(over twelve(12)months of contractual relationship with the Group)and type of services provided and the recurrences and regularity of such services,and will benchmark such
183、 metrics against the performance of the employees,officers and Directors of the Group to whom the Group provides equity incentives,while taking into account the purpose of the of the 2023 Share Option Scheme and the objectives in engaging the Service Provider.(ii)In accessing whether the Service Pro
184、vider provides services to the Group in the Companys ordinary and usual course of business,the Board or the committee of the Board shall take into consideration the nature of the services form part of or are directly ancillary to the businesses conducted by the Group,as disclosed in the Companys fin
185、ancial reports.DIRECTORS REPORT董事會報告28CHINA TONTINE WINES GROUP LIMITED ANNUAL REPORT 2024(iii)The total number of Shares which may be issued in respect of all Option(s)and Award(s)to be granted under the 2023 Share Option Scheme and any Other Schemes(excluding for this purpose Option(s)or Award(s)w
186、hich have lapsed in accordance with the terms and conditions of the 2023 Share Option Scheme and any Other Schemes)(the“Scheme Mandate Limit”)shall not exceed 10%of the total number of Shares in issue on the Adoption Date.Within the Scheme Mandate Limit,the sublimit on the total number of Shares tha
187、t may be issued in respect of all Option(s)and Award(s)to be granted to Service Providers under the 2023 Share Option Scheme and any Other Schemes(excluding for this purpose Option(s)or Award(s)which have lapsed in accordance with the terms and conditions of the 2023 Share Option Scheme and any Othe
188、r Schemes)(the“Service Provider Sublimit”)shall not exceed 1%of the number of total issued Shares on the Adoption Date.The Service Provider Limit shall not be valid unless:(a)the Service Provider Sublimit is separately approved by the Shareholders in general meeting;and(b)a circular regarding the Se
189、rvice Provider Sublimit has been despatched to the Shareholders in a manner complying with,and containing the matters specified in,the relevant provisions of Chapter 17 of the Listing Rules(including,among others,the basis for determining the Service Provider Sublimit and an explanation as to why th
190、e Service Provider Sublimit is appropriate and reasonable).Subject to the provisions of the 2023 Share Option Scheme,the Scheme Mandate Limit and the Service Provider Sublimit may be refreshed by ordinary resolution of the Shareholders in general meeting after three(3)years from the date of Sharehol
191、ders approval for the last refreshment(or the Adoption Date).(iii)根據二零二三年購股權計劃及任何其他計劃授予的所有期權及獎勵（不包括為此目的而根據二零二三年購股權計劃及任何其他計劃的條款及細則失效的期權或獎勵）（計劃授權限額）可發行的股份總數不得超過採用日時已發行股份總數的10%。在計劃授權限額內，根據二零二三年購股權計劃及任何其他計劃（不包括根據二零二三年購股權計劃及任何其他計劃的條款及細則而失效的期權或獎勵）可就所有期權及獎勵發行股份總數的分項限制（服務供應商分項限額）不得超過採用日已發行股份總數的1%。服務提供者限制無效，
192、除非：(a)服務提供者分項限額由股東大會另行批準；及(b)有關服務供應商分限額的通函已以符合上市規則第十七章相關條文及載有上市規則第十七章相關條文指明的事項的方式發給股東（其中包括釐定服務供應商分限額的依據及解釋為何服務供應商分限額是適當及合理的）。根據二零二三年購股權計劃的規定，計劃授權限額和服務提供者分項限額可在股東批準最後一次更新日期（或通過日期）起計三(3)年後，通過股東大會的普通決議更新。DIRECTORS REPORT董事會報告29中國通天酒業集團有限公司 二零二四年年報(iv)除非經股東在股東大會上批準，否則於直至進一步授出日期（包括該日）止12個月期間內，根據二零二三年購股權計
193、劃及本集團任何其他購股權計劃向任何合資格參與者授出的所有購股權獲行使而已發行及可能須予發行的股份總數，不得超過本公司當時已發行股本的1%。(v)合資格參與者可於授出購股權要約當日起計21日內接納購股權。接納授出購股權要約時須繳付象徵式代價1港元。(vi)購股權可根據二零二三年購股權計劃的條款於董事釐定及通知各承授人的期限（不超過自授出當日起計十年）內隨時行使。(vii)根據二零二三年購股權計劃，每股股份的認購價將由董事釐定，惟不得低於(i)授出要約當日（須為交易日）聯交所每日報價表中所列的股份收市價；(ii)緊接授出要約日期前五個交易日聯交所每日報價表中所列的股份平均收市價；及(iii)股份面
194、值（以最高者為準）。(viii)根據二零二三年購股權計劃授予的購股權，須遵守根據二零二三年購股權計 劃 授 予 的 購 股 權 的 最 短 歸 屬 期 為十二(12)個月。在下列任何情況下，授予員工參與者的購股權的任何較短歸屬期，必須由董事會及或薪酬委員會批準。(iv)Unless approved by shareholders in a general meeting,the total number of Shares issued and which may fall to be issued upon exercise of all options granted to any el
195、igible participant under the 2023 Share Option Scheme and any other share option scheme(s)of the Group in the 12-month period up to and including such further grant must not exceed 1%of the issued share capital of the Company for the time being.(v)An option may be accepted by an eligible participant
196、 within 21 days from the date of the offer of grant of the option.A nominal consideration of HK$1 is payable on acceptance of the offer of grant of an option.(vi)An option may be exercised in accordance with the terms of the 2023 Share Option Scheme at any time during a period(which may not expire l
197、ater than 10 years from the date of the grant)to be determined and notified by the Directors to each grantee.(vii)The subscription price per Share under the 2023 Share Option Scheme will be a price determined by the Directors,but shall not be less than the highest of(i)the closing price of Shares as
198、 stated in the Stock Exchanges daily quotations sheet on the date of the offer for grant(which must be a business day);(ii)the average closing price of Shares as stated in the Stock Exchanges daily quotations sheet for the five business days immediately preceding the date of the offer for the grant;
199、and(iii)the nominal value of a Share.(viii)The Option(s)to be granted under the 2023 Share Option Scheme shall be subject to a minimum vesting period of Option(s)to be granted under the 2023 Share Option Scheme shall be twelve(12)months.Any shorter vesting period in respect of Option(s)granted to Em
200、ployee Participants must be approved by the Board and/or the Remuneration Committee(where the arrangements relate to grants of Option(s)to Directors and senior managers of the Company)at the Directors discretion.DIRECTORS REPORT董事會報告30CHINA TONTINE WINES GROUP LIMITED ANNUAL REPORT 2024(ix)除非另有規定，董事
201、會根據二零二三年購股權計劃的規定，並在授予期權的要約中列明，否則在行使任何期權之前，不存在必須實現的業績目標。(x)如果受讓人因被立即解僱而不再是參與者，或因受讓人犯有不當行為，或以其他方式違反其僱傭合同或其他構成其參與者的合同的條款（包括，除其他外，導致公司財務報表的重大錯報），或他開始出現無力償付或沒有合理希望償還債務的日期，或已無力償債或已與該受讓人的債權人達成任何安排或和解的日期，或被判犯有任何涉及該受讓人正直或誠實的刑事罪行的日期，或（如果董事會如此確定）基於僱主有權根據普通法或任何適用法律的任何其他理由，或根據該受讓人與公司或相關附屬公司的服務合同立即終止該受讓人的僱傭關係。相關附
202、屬公司的董事會或董事會，或相關附屬公司的董事會或董事會委派的任何人，應確定受讓人的僱傭或其他相關合同是否已因此段規定的一個或多個理由終止。該決定應為最終決定性、附決定性並具有約束力。(ix)Except otherwise imposed by the Board pursuant to the provisions of the 2023 Share Option Scheme and stated in the offer of the grant of the Option(s),there is no performance target that has to be achieved
203、 before the exercise of any Option(s).(x)The right to exercise an Option(to the extent not already exercised)shall lapse automatically where the Grantee ceases to be a Participant by reason of summary dismissal of such Grantee,or on any one or more of the grounds that such Grantee has been guilty of
204、 misconduct,or other breach of the terms of his employment contract or other contract constituting him a Participant(including,among others,causing material misstatement of the financial statements of the Company),or the date on which he begins to appear to be unable to pay or has no reasonable pros
205、pect of being able to pay his debts or has become insolvent or has made any arrangement or composition with such Grantees creditors generally,or has been convicted of any criminal offence involving such Grantees integrity or honesty or(if so determined by the Board)on any other ground on which an em
206、ployer would be entitled to terminate such Grantees employment summarily at common law or pursuant to any applicable laws or under such Grantees service contract with the Company or the relevant subsidiary.The Board or the board of directors of the relevant subsidiary,or any person delegated by the
207、Board or the board of directors of the relevant subsidiary shall determine whether the employment or other relevant contract of a Grantee has or has not been terminated on one or more of the grounds specified in this paragraph.Such decision shall be final,conclusive and binding.DIRECTORS REPORT董事會報告
208、31中國通天酒業集團有限公司 二零二四年年報於截至二零二四年十二月三十一日止年度，本公司根據二零二三年購股權計劃授出的購股權的變動如下：附註：於截至二零二四年十二月三十一日止年度，概無購股權獲行使。於截至二零二四年十二月三十一日止年度，概無購股權根據二零二三年購股權計劃獲行使。根據上述披露之購股權計劃於二零二三年十二月十五日已授出的股份總數為29,405,480股（二零二三年購股權計劃），佔本公司於二零二四年十二月三十一日已發行股份總數的約9.75%。根據上述披露之購股權計劃尚未授出的購股權獲行使後可供發行的股份最高數目為零股（二零二三年購股權計劃），佔本公司於二零二四年十二月三十一日已發行股
209、份總數的約0.00%。根據本公司購股權計劃授出的購股權已按照經審核綜合財務報表附註29所載列的會計政策確認為本公司開支。購股權的公平值釐定載於經審核綜合財務報表附註29。During the year ended 31 December 2024,the movements in the options granted by the Company under the 2023 Share Option Scheme were as follows:Number of options購股權數目 Category ofgranteesDate of grantVesting dateExerci
210、sableperiodExercise priceper ShareClosing priceper Share ondate of grantOutstandingas at1 January2024Granted duringthe YearExercisedduringthe YearCancelledduringthe YearLapsedduringthe YearOutstandingas at31 December2024承授人類別授出日期歸屬日期行使期間每股行使價於授出日期的每股收市價於二零二四年一月一日尚未行使年度內授出年度內行使年度內撤銷年度內失效於二零二四年十二月三十一日
211、尚未行使(dd/mm/yyyy)(dd/mm/yyyy)(dd/mm/yyyy)HK$HK$（日月年）（日月年）（日月年）港元港元 Employees僱員15/12/202315/12/2023 14/12/202415/12/2024 14/12/20250.920.9229,405,48029,405,480 Total總計29,405,480(Note)（附註）29,405,480 Note:No Share option were exercised during the year ended 31 December 2024.During the year ended 31 Dece
212、mber 2024,no share options had been exercised under the 2023 Share Option Scheme.The total number of Shares granted on 15 December 2023 under the share option schemes disclosed above is 29,405,480(2023 Share Option Scheme),representing approximately 9.75%of the total number of Shares in issue of the
213、 Company as at 31 December 2024.The maximum number of Shares available for issue upon exercise of options not yet granted under the share option schemes disclosed above is Nil Shares(2023 Share Option Scheme),representing approximately 0.00%of the total number of Shares in issue of the Company as at
214、 31 December 2024.Options granted under the Companys share option schemes were recognized as expenses of the Company in accordance with the accounting policy as set out in note 29 to the audited consolidated financial statements.The determination of the fair value of the options is set out in note 2
215、9 to the audited consolidated financial statements.DIRECTORS REPORT董事會報告32CHINA TONTINE WINES GROUP LIMITED ANNUAL REPORT 2024儲備本集團年度內的儲備變動詳情載於第109頁的綜合權益變動表。於二零二四年十二月三十一日，本公司可供分派的儲備為約人民幣零元（二零二三年：人民幣123,446,000元）。財務資料概要載有本集團過去五個財政年度資產及負債資料的已公佈業績的概要載於第2至第4頁。該概要並不屬於綜合財務報表的一部分。董事年度內及直至本年報日期，組成董事會的董事如下：執
216、行董事孫佳良先生（主席兼行政總裁）黃楚武先生非執行董事李瑜鴻先生朱明徽先生獨立非執行董事李良先生雷美嘉女士陳偉傑先生RESERVESDetails of movements in the reserves of the Group during the Year are set out in the consolidated statement of changes in equity on page 109.As at 31 December 2024,the Companys reserves available for distribution amounted to approxima
217、tely RMBnil(2023:RMB123,446,000).SUMMARY FINANCIAL INFORMATIONA summary of the published results containing information on the Groups assets and liabilities for the last five financial years is set out on pages 2 to 4.The summary does not form part of the consolidated financial statements.DIRECTORST
218、he Directors comprising the Board during the Year and up to the date of the Annual Report were:EXECUTIVE DIRECTORS:Mr.Sun Jialiang(Chairman and chief executive officer)Mr.Huang ChuwuNON EXECUTIVE DIRECTORSMr.Li Jerry Y.Mr.Zhu MinghuiINDEPENDENT NON EXECUTIVE DIRECTORS:Mr.Li LiangMs.Lui Mei KaMr.Chan
219、 Wai KitDIRECTORS REPORT董事會報告33中國通天酒業集團有限公司 二零二四年年報本公司的公司細則規定，於每屆股東週年大會上，當時三分之一的董事（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）須輪值退任，惟每位董事必須至少每三年輪值退任一次。此外，任何由董事會委任以填補臨時空缺或作為現時董事會新增成員之董事將任職至本公司下屆股東大會（如為填補臨時空缺）或任職至本公司下屆股東週年大會（如為現時董事會新增成員），除非經股東重選則作別論。退任董事符合資格膺選連任，並須於其退任的大會上繼續擔任董事。因此，每名董事須於股東週年大會上由股東全權自由決定其能否連任。董事
220、會包含三名獨立非執行董事，佔董事會三分之一以上。獨立非執行董事於制定本集團目標及策略以及確保董事會維持高水平企業管治方面扮演著重要角色。根據上市規則第3.13條，本公司已接獲李良先生、雷美嘉女士及陳偉傑先生的年度獨立性確認。年度內及於本年報日期本公司視其所有獨立非執行董事為身份獨立。董事及高級管理層履歷本集團董事及高級管理層的履歷詳情，載於本年報第19至23頁。董事的服務合約董事概無與本公司或其任何附屬公司訂有本公司不可於一年內免付賠償（法定賠償除外）而終止的服務合約。The Companys bye-laws provide that,at each annual general meeti
221、ng,one-third 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 shall be subject to retirement at least once every three years.Further,any
222、Director appointed by the Board to fill a casual vacancy or as an addition to the existing Board will hold office until the next following general meeting of the Company(in the case of filling a casual vacancy)or until the next following annual general meeting of the Company(in the case of an additi
223、on to the existing Board),unless re-elected by the shareholders.A retiring Director shall be eligible for re-election and shall continue to act as a Director throughout the meeting at which he/she retires.Every Director is therefore subject himself/herself to the absolute and free choice of the shar
224、eholders for re election at the annual general meetings.The Board comprises three independent non-executive Directors,representing more than one-third of the Board.The independent non-executive Directors play an important role on formulating the Groups objectives and strategies and ensuring that the
225、 Board maintains high standard of corporate governance.The Company has received annual confirmations of independence from Mr.Li Liang,Ms.Lui Mei Ka and Mr.Chan Wai Kit pursuant to Rule 3.13 of the Listing Rules.The Company considered all of its independent non-executive Directors were independent du
226、ring the Year and as at the date of the Annual Report.DIRECTORS AND SENIOR MANAGEMENTS BIOGRAPHIESBiographical details of the Directors and the senior management of the Group are set out on pages 19 to 23 of the Annual Report.DIRECTORS SERVICE CONTRACTSNone of the Directors had a service contract wi
227、th the Company or any of its subsidiaries which is not determinable by the Company within one year without payment of compensation,other than statutory compensation.DIRECTORS REPORT董事會報告34CHINA TONTINE WINES GROUP LIMITED ANNUAL REPORT 2024關連方交易年度綜合財務報表附註36所披露的 關連方交易 並無構成上市規則項下須予披露的不獲豁免關連交易或不獲豁免持續關連
228、交易。管理合約年度內，概無訂立或存在任何與本公司整體或任何重大部分業務的管理及行政有關的合約（僱傭合約除外）。董事及或主要行政人員於本公司及相聯法團的證券的權益於二零二四年十二月三十一日，本公司董事及或主要行政人員於本公司或其任何相聯法團（定義見香港法例第571章證券及期貨條例（證券及期貨條例）第XV部）的股份、相關股份或債券中，擁有登記於本公司根據證券及期貨條例第352條存置的登記冊的權益及淡倉，或根據上市規則附錄十所載上市發行人董事進行證券交易的標準守則須知會本公司及香港聯合交易所有限公司（聯交所）的權益及淡倉如下：(1)本公司每股面值0.10港元的普通股（股份）之好倉RELATED PA
229、RTY TRANSACTIONSNone of the“Related Party Transactions”as disclosed in note 36 to the consolidated financial statements for the Year constituted discloseable non-exempted connected transaction or non-exempted continuing connected transaction under the Listing Rules.MANAGEMENT CONTRACTNo contract,oth
230、er than employment contracts,concerning the management and administration of the whole or any substantial part of the business of the Company was entered into or existed during the Year.DIRECTORS AND/OR CHIEF EXECUTIVES INTERESTS IN THE SECURITIES OF THE COMPANY AND ASSOCIATED CORPORATIONSAs at 31 D
231、ecember 2024,the interests and short positions of the Directors and/or the chief executives of the Company in the shares,underlying shares or debentures of the Company or any of its associated corporations(within the meaning of Part XV of the Securities and Futures Ordinance(Chapter 571 of the Laws
232、of Hong Kong)(the“SFO”)as recorded in the register kept by the Company pursuant to Section 352 of the SFO or as otherwise notified to the Company and The Stock Exchange of Hong Kong Limited(the“Stock Exchange”)pursuant to the Model Code for Securities Transactions by Directors of Listed Issuers set
233、out in appendix 10 to the Listing Rules were as follows:(1)LONG POSITION IN ORDINARY SHARES THE“SHARES”OF HK$0.10 EACH IN THE COMPANYName of DirectorName of Group member/associated corporationCapacity/Nature of interestNumber ofShares heldApproximatepercentage ofshareholding董事姓名本集團成員公司相聯法團名稱身份權益性質所持
234、股份數目概約股權百分比(Note 1)（附註1）(Note 3)（附註3）Mr.Wang Guangyuan王光遠先生The Company本公司Interest of a controlledcorporation受控制法團的權益49,517,872Shares(L)(Note 2)股股份(L)（附註2）16.42%DIRECTORS REPORT董事會報告35中國通天酒業集團有限公司 二零二四年年報附註：(1)L 代表股份的好倉。(2)該等股份以上昇國際有限公司（上昇國際）的名義登記並由其實益擁有。上昇國際為於英屬處女群島（英屬處女群島）註冊成立的公司，其已發行股本由王光遠先生及天源國際投
235、資有限公司分別擁有51%及49%。(3)於二零二四年十二月三十一日，天源國際投資有限公司（天源）持有本公司69,517,872股股份，約佔本公司已發行股本的23.05%，李瑜鴻先生及朱明徽先生均為天源之成員及董事，該公司持有本公司主要股東上昇國際有限公司49%的權益。(4)王俊堯先生於二零二四年九月三十日被罷免董事。(5)股權百分比乃按照於二零二四年十二月三十一日已發行301,561,800股股份的基準計算。Name of DirectorName of Group member/associated corporationCapacity/Nature of interestNumber o
236、fShares heldApproximatepercentage ofshareholding董事姓名本集團成員公司相聯法團名稱身份權益性質所持股份數目概約股權百分比(Note 1)（附註1）(Note 3)（附註3）Mr.Li Jerry Y.李瑜鴻先生The Company本公司Interest of a controlled corporation受控制法團的權益Beneficial owner實益擁有人49,517,872Shares(L)股股份(L)20,000,000Shares(L)(Note 3)股股份(L)（附註3）16.42%6.63%Mr.Zhu Minghui朱明徽先
237、生The Company本公司Interest of a controlled corporation受控制法團的權益Beneficial owner實益擁有人49,517,872Shares(L)股股份(L)20,000,000Shares(L)(Note 3)股股份(L)（附註3）16.42%6.63%Mr.Wang Junyao王俊堯先生The Company本公司Beneficial owner實益擁有人3,940,000(Note 3)（附註3）1.31%Notes:(1)The letter“L”denotes long position in the Shares.(2)Thes
238、e Shares are registered in the name of and beneficially owned by Up Mount International Limited(“Up Mount”),a company incorporated in the British Virgin Islands(the“BVI”)and whose issued share capital is owned by Mr.Wang Guangyuan(51%)and Sky Source International Investments Limited(49%).(3)As at 31
239、 December 2024,Sky Source held a total number of 69,517,872 Shares of the Company,representing approximately 23.05%of the issued share capital of the Company.Both Mr.Li Jerry Y.and Mr.Zhu Minghui are members and directors of Sky Source International Investments Limited(“Sky Source”)which holds 49%of
240、 shareholding of Up Mount International Limited,a substantial shareholder of the Company.(4)Mr.Wang Junyao was removed as a Director on 30 September 2024.(5)The percentage of shareholding is calculated on the basis of 301,561,800 Shares in issue as at 31 December 2024.DIRECTORS REPORT董事會報告36CHINA TO
241、NTINE WINES GROUP LIMITED ANNUAL REPORT 2024(2)本公司購股權權益於二零二三年十二月十五日授出的二零二三年購股權計劃中，該等承授人均非本公司董事、高級行政人員或主要股東，亦非上述任何人士之聯繫人（定義見上市規則）。除上文所披露者外，於二零二四年十二月三十一日，本公司各董事或主要行政人員概無於本公司或其任何相聯法團（定義見證券及期貨條例第XV部）的股份、相關股份或債券中擁有或按照證券及期貨條例被視為擁有任何權益或淡倉。主要股東於本公司證券的權益於二零二四年十二月三十一日，據任何董事或本公司主要行政人員所知，於本公司根據證券及期貨條例第336條存置的登記
242、冊記錄或另行知會本公司，直接或間接擁有或被視為擁有本公司已發行股本5%或以上權益的人士（董事或本公司主要行政人員除外）如下：(2)INTERESTS IN SHARE OPTIONS OF THE COMPANYEach of the Grantees of 2023 Share Option Scheme granted on 15 December 2023 is neither a director,chief executive or substantial shareholder of the Company,nor an associate as defined under the
243、 Listing Rules of any of them.Save as disclosed above,none of the Directors or the chief executive of the Company had or were deemed under the SFO to have any interests or short positions in the shares,underlying shares in or debentures of the Company or any of its associated corporations(within the
244、 meaning of Part XV of the SFO)as at 31 December 2024.SUBSTANTIAL SHAREHOLDERS INTERESTS IN THE SECURITIES OF THE COMPANYAs at 31 December 2024,so far as is known to any Directors or chief executives of the Company,the following parties,other than Directors or chief executives of the Company,were re
245、corded in the register required to be kept by the Company under section 336 of the SFO,or as otherwise notified to the Company,as being directly or indirectly interested or deemed to be interested in 5%or more of the issued share capital of the Company:NameCapacity/Nature ofinterestNumber ofShares h
246、eldApproximatepercentage ofissued Shares名稱姓名身份權益性質所持股份數目佔已發行股份概約百分比(Note 1)（附註1）(Note 6)（附註6）Sky Source International Investments Limited(Note 2)Interest in a controlled corporation49,517,872(L)16.42%天源國際投資有限公司（附註2）受控制法團權益Beneficial owner20,000,000(L)6.63%實益擁有人Up Mount International Limited(Note 3)B
247、eneficial owner49,517,872(L)16.42%上昇國際有限公司（附註3）實益擁有人Ms.Zhang Min(Note 4)Interest of spouse49,517,872(L)16.42%張敏女士（附註4）配偶權益DIRECTORS REPORT董事會報告37中國通天酒業集團有限公司 二零二四年年報NameCapacity/Nature ofinterestNumber ofShares heldApproximatepercentage ofissued Shares名稱姓名身份權益性質所持股份數目佔已發行股份概約百分比(Note 1)（附註1）(Note 6)
248、（附註6）Bon Voyage Development Limited(Note 5)Beneficial owner40,000,000(L)13.26%順途發展有限公司（附註5）實益擁有人Mr.Wang He王赫先生Beneficial owner實益擁有人30,160,00010.00%Mr.Yu XinxinBeneficial owner25,760,000(L)8.54%于昕鑫先生實益擁有人Mr.Yan ShaohuaBeneficial owner23,758,200(L)7.88%晏紹華先生實益擁有人Notes:(1)The Letter“L”denotes long posi
249、tion in the Shares.(2)Sky Source International Investments Limited(“Sky Source”)is a company incorporated in the Samoa.It is beneficially owned by Mr.Li Jerry Y.(50%)and Mr.Zhu Minghui(50%),non-executive directors of the Company.Sky Source holds 49%of shareholding of Up Mount,a substantial sharehold
250、er of the Company.(3)Up Mount International Limited(“Up Mount”)is a company incorporated in the BVI,and is beneficially owned by Mr.Wang Guangyuan(“Mr.Wang”),the chairman,an executive Director and the chief executive officer of the Company as to 51%,and Sky Source as to 49%.To the best of the knowle
251、dge,information and understanding of the Company based on an independent search report provided by an independent search agent,as at 30 April 2024.it is noted that Up Mount had reduced its holdings to 30,080,872 shares of the Company.(4)Ms.Zhang Min is the spouse of Mr.Wang Guangyuan and is therefor
252、e deemed to be interested in all the Shares held by Mr.Wang Guangyuan(through Up Mount International Limited)by virtue of the SFO.(5)Bon Voyage Development Limited is a company incorporated in the BVI.(6)To the best of the knowledge,information and understanding of the Company based on an independen
253、t search report provided by an independent search agent,as at 30 April 2024,it is noted that Mr.Yu Xinxin had reduced his holding to 4,760,000 shares of the Company.附註：(1)L 代表股份的好倉。(2)天源國際有限公司（天源）為一家在薩摩亞註冊成立的公司，由本公司非執行董事李瑜鴻先生(50%)及朱明徽先生(50%)實益擁有。天源擁有本公司另一主要股東上昇國際的49%權益。(3)上昇國際有限公司（上昇國際）為一家於英屬處女群島註冊成
254、立的公司，由本公司主席、執行董事兼行政總裁王光遠先生（王先生）實益擁有51%及天源擁有49%。根據本公司基於獨立查詢代理提供的獨立查詢報告所深知、盡悉及確信，於二零二四年四月三十日，上昇國際已減持至30,080,872股本公司股份。(4)根據證券及期貨條例，張敏女士由於是王光遠先生的配偶，因此被視為於王光遠先生（透過上昇國際有限公司）持有的所有股份中擁有權益。(5)順途發展有限公司為一家於英屬處女群島註冊成立的公司。(6)根據本公司基於獨立查詢代理提供的獨立查詢報告所深知、盡悉及確信，於二零二四年四月三十日，于昕鑫先生已減持至4,760,000股本公司股份。DIRECTORS REPORT董事
255、會報告38CHINA TONTINE WINES GROUP LIMITED ANNUAL REPORT 2024(7)根據於二零二四年六月十二日公佈的部分收購要約，王赫先生（作為要約人）同意以每股要約股份0.6港元的價格購買合共30,160,000股股份，該等股份已於二零二四年九月四日發行。(8)股 權 百 分 比 乃 按 照 於 二 零 二 四 年 十 二 月三十一日已發行301,561,800股股份的基準計算。董事購買股份或債券的權利除上文披露根據本公司購股權計劃授出的購股權外，年度內任何時間，本公司或其任何附屬公司概無訂立任何安排，讓董事能夠通過收購本公司或任何其他法團的股份或債券而獲
256、益。退休福利計劃本集團根據香港法例第485章強制性公積金計劃條例為其香港合資格僱員運行強制性公積金計劃及為於中華人民共和國成立之本公司之附屬公司之僱員提供中華人民共和國政府運營之國家退休福利計劃。於二零二四年十二月三十一日，概無已沒收應收供款可用於扣減未來供款（二零二三年：無）。於合約的權益本公司或其任何附屬公司的任何控股股東於年度結束時或年度內任何時間，概無訂立有關本集團的業務或向本集團提供服務且董事或與董事有關之實體直接或間接擁有重大權益的重大交易、安排或合約。董事於競爭性業務的權益年度內及直至本年報日期，概無董事被認為於與本集團的業務直接或間接形成競爭或可能形成競爭的業務中擁有權益。(7
257、)Pursuant to the partial takeover offer announced on 12 June 2024,Mr.Wang He,as the offeror,accept to purchase a total of 30,160,000 shares at HKS0.6 per offer share,which had been issued on 4 September 2024.(8)The percentage of shareholding is calculated on the basis of 301,561,800 Shares in issue
258、as at 31 December 2024.DIRECTORS RIGHTS TO ACQUIRE SHARES OR DEBENTURESSave as the options granted under the Companys share option scheme(s)disclosed above,at no time during the Year was the Company or any of its subsidiaries a party to any arrangement to enable the Directors to acquire benefits by
259、means of the acquisition of shares in,or debentures of,the Company or any other body corporate.RETIREMENT BENEFITS SCHEMESThe Group operates a Mandatory Provident Fund scheme under the Mandatory Provident Fund Schemes Ordinance(Chapter 485 of the Laws of Hong Kong)for its qualifying employees in Hon
260、g Kong and state-managed retirement benefit schemes operated by the government of the Peoples Republic of China for the employees of the Companys subsidiaries established in the Peoples Republic of China.As at 31 December 2024,there was no forfeited contribution receivable for reduction of future co
261、ntribution(2023:Nil).INTERESTS IN CONTRACTSNo transaction,arrangement or contract of significance in relation to the business of the Group or the provision of services to the Group to which any controlling shareholder of the Company or any of its subsidiaries was a party,or in which a Director or an
262、 entity connected with a Director had a material interest,whether directly or indirectly,subsisted at the end of the Year or at any time during the Year.DIRECTORS INTERESTS IN COMPETING BUSINESSDuring the Year and up to the date of the Annual Report,no Directors were considered to have interests in
263、a business which competes or is likely to compete,either directly or indirectly,with the businesses of the Group.DIRECTORS REPORT董事會報告39中國通天酒業集團有限公司 二零二四年年報薪酬政策、僱員福利及購股權計劃優秀和熱誠的員工是我們最重要的資產，是我們在競爭激烈的市場上取得成功所不可或缺的。作為本公司企業文化的一部分，我們致力確保僱員之間有強大的團隊精神，共同為企業目標努力。為了達到這個目的，我們向香港和中國僱員提供與行內水平相稱且具競爭力的薪酬待遇，並提供多項額
264、外福利，包括培訓、醫療、保險以及退休福利。本公司亦採納購股權計劃，主要目的是激勵本集團僱員為本集團作出更大貢獻，並且就彼等的表現和努力給予獎勵。我們鼓勵僱員參加外界的專業和技術研討會，以及其他培訓計劃和課程，以更新彼等的技術知識和技能、提升彼等的市場觸覺和改善彼等對業務的敏銳度。本集團會參考地方法例、市況、行業慣例及對本集團和個別僱員（包括董事）的表現評核，定期檢討其人力資源和薪酬政策。於二零二四年十二月三十一日，本集團在香港和中國的員工總數為82名（由於無法取得通化附屬公司的相關資料，故不包括標的附屬公司僱員人數）（二零二三年：252名，包括通化附屬公司）。年度內之總薪金和相關成本（包括董事
265、袍金）約為人民幣19,421,000元（二零二三年：人民幣17,980,000元）。主要客戶及供應商年度內，來自本集團五大客戶的銷售額及五大供應商的採購額分別佔本集團總銷售額及總採購額約56%及44%。本集團的最大客戶及供應商分別佔年度內本集團總銷售額及總採購額約20%及24%。截至二零二四年十二月三十一日止年度，本公司董事或彼等的任何緊密聯繫人或任何股東（就董事所深知擁有本公司已發行股本超過5%者）概無於本集團五大客戶及供應商中擁有任何實益權益。REMUNERATION POLICY,EMPLOYMENT BENEFITS AND SHARE OPTION SCHEMEQuality and
266、 dedicated staff are our most important assets and are indispensable to our success in the competitive market.As part of our corporate culture,we strive to ensure a strong team spirit among our employees for them to contribute towards our corporate objectives.In achieving the goal,we offer competiti
267、ve remuneration packages commensurate with the industry level and provide various fringe benefits,including trainings,medical,insurance coverage as well as retirement benefits to the employees in Hong Kong and in China.The Company has also adopted share option scheme with the primary purpose of moti
268、vating employees of the Group to optimize their contributions to the Group and to reward them for their performance and dedications.Employees are encouraged to enroll in external professional and technical seminars,and other training programs and courses to update their technical knowledge and skill
269、s,enhance their market awareness and improve their business acumen.The Group reviews its human resources and remuneration policies periodically with reference to local legislation,market conditions,industry practice and assessment of the performance of the Group and individual employees(including Di
270、rectors).As at 31 December 2024,the Group employed a work force of 82(excluding the number of employees of Subject subsidiaries since relevant information could not be obtained from Tonghua subsidiaries)in Hong Kong and in China(2023:include Tonghua subsidiaries was 252).The total salaries and relat
271、ed costs(including the Directors fee)for the Year amounted to approximately RMB19,421,000(2023:RMB17,980,000).MAJOR CUSTOMERS AND SUPPLIERSDuring the Year,sales to the Groups five largest customers and purchases from the Groups five largest suppliers accounted for around 56%and 44%of the total sales
272、 and purchases of the Group respectively.The Groups largest customer and supplier accounted for around 20%and 24%of the total sales and purchases of the Group for the Year respectively.For the year ended 31 December 2024,none of the Directors or any of their close associates or any Shareholders of t
273、he Company which,to the best knowledge of the Directors,owned more than 5%of the Companys issued share capital,had any beneficial interest in the Groups five largest customers and suppliers.DIRECTORS REPORT董事會報告40CHINA TONTINE WINES GROUP LIMITED ANNUAL REPORT 2024審核委員會董事會已成立審核委員會（審核委員會）。審核委員會由全部獨立非
274、執行董事（即李良先生、雷美嘉女士及陳偉傑先生）組成。審核委員會已與管理層一同審閱本公司採納的會計原則、會計準則及方法，討論與本集團風險管理及內部監控系統相關的事宜，以及審閱本集團年度內的經審核全年業績。公眾持股量充足水平根據可供本公司公開查詢的資料及就董事所深知，本公司於年度內及直至本年報日期已維持上市規則規定的公眾持股量。董事的彌償保證根據本公司的公司細則，本公司之每位董事、秘書及其他高級職員因執行其各自職務或與之有關的事宜中的職責時因任何作為、同意或遺漏而可能招致或蒙受的一切訴訟、成本、費用、損失或其他負債（以百慕達一九八一年公司法（經修訂）準許者為限），應獲得以本公司資產作出的彌償保證及
275、保障彼等免受傷害；本公司已為董事及高級職員投購適合的責任保險，以對本集團董事及高級職員作出彌償保證，有關彌償保證於截至二零二四年十二月三十一日止年度內有效及於本年報日期仍然生效。AUDIT COMMITTEEThe Board has established its audit committee(the“Audit Committee”)which comprises all the independent non-executive Directors(namely,Mr.Li Liang,Ms.Lui Mei Ka and Mr.Chan Wai Kit).The Audit Commi
276、ttee had reviewed the accounting principles,accounting standards and methods adopted by the Company together with the management,discussed the matters concerning the Groups risk management and internal controls systems,as well as reviewed the Groups audited annual results for the Year.SUFFICIENCY OF
277、 PUBLIC FLOATBased on information that is publicly available to the Company and within the knowledge of the Directors,the Company had maintained the prescribed public float as required under the Listing Rules during the Year and up to the date of the Annual Report.DIRECTORS INDEMNITIESPursuant to th
278、e Companys bye-laws,every Director,secretary and other officers of the Company shall be indemnified and secured harmless out of the assets of the Company from and against all actions,costs,charges,losses or other liabilities(to the extent allowed by the Companies Act 1981 of Bermuda(as amended)which
279、 they or any of them may incur or sustain by reason of any act done,concurred in or omitted in or about the execution of their duties in respect of their respective offices or otherwise in relation thereto.The Company has arranged appropriate directors and officers liability insurance coverage to in
280、demnify the Directors and officers of the Group,and such indemnity was in force during the year ended 31 December 2024 and remain effective as at the date of the Annual Report.DIRECTORS REPORT董事會報告41中國通天酒業集團有限公司 二零二四年年報環境保護及法律合規本公司致力於保護其經營所在環境，並確保不時遵守本集團及其業務經營適用之環保標準。於年度內且就董事所知，本集團已就其業務及生產設施取得所要求的許可
281、證及環境審批，且已遵守該等對本集團、其業務及經營具有重大影響的有關法律、法規及條例。有關本公司於環境保護、法律合規及在有助於本集團業務之可持續增長及發展的其他方面所完成的工作及作出的努力之進一步資料，請參閱本年報所載之環境、社會及管治報告。與業務合作夥伴及顧客的關係我們重視且一直與我們的業務合作夥伴（包括農戶、供應商及經銷商）、顧客及本集團僱員保持良好關係。我們相信與彼等建立長期的利益關係是建立相互信任、忠誠及業務發展的重中之重，也是本公司成功及可持續發展的依賴。核數師提呈重新委任核數師本公司現任核數師栢淳會計師事務所有限公司將於本公司應屆股東週年大會（股東週年大會）退任，並符合資格於股東週年
282、大會接受重新委任。有關重新委任本公司核數師之決議案將於股東週年大會上提呈。ENVIRONMENTAL PROTECTION AND LEGAL COMPLIANCEThe Company is committed to protecting the environment where it operates and ensuring that it complies with the environmental protection standards applicable to the Group and its business operation from time to time.Du
283、ring the Year and to the best of our Directors knowledge,the Group had obtained the required permits and environmental approvals for its business and production facilities,and had complied with such laws,rules and regulations that have a significant impact on the Group,its business and operations.Pl
284、ease refer to the Environmental,Social and Governance Report contained in the Annual Report for further information on the work done and efforts made by the Company on environmental protection,legal compliance and other aspects for the sustainable growth and development of the business of the Group.
285、RELATIONSHIPS WITH BUSINESS PARTNERS AND CUSTOMERSWe value our relationships,and have been maintaining good relationships,with our business partners(including farmers,suppliers and distributors),customers and the employees of the Group.We believe that building long-term beneficial relationships with
286、 each of them is of paramount importance to establish mutual trust,loyalty and business development,and on which the Companys success and sustainability depend.AUDITORPROPOSED RE APPOINTMENT OF AUDITORPrism Hong Kong Limited,the existing auditor of the Company,will retire at the forthcoming annual g
287、eneral meeting(the“AGM”)of the Company and,being eligible,offer itself for re appointment at the AGM.A resolution for the re-appointment of the auditor of the Company will be proposed at the AGM.DIRECTORS REPORT董事會報告42CHINA TONTINE WINES GROUP LIMITED ANNUAL REPORT 2024暫停辦理股份過戶登記本公司將於舉行股東週年大會（股東週年大會
288、）的當日及舉行股東週年大會前三個營業日（包括首尾兩天）暫停辦理股份過戶登記，以確定有權出席股東週年大會並於會上投票的股東。為符合資格出席股東週年大會並於會上投票，所有股份過戶文件連同有關股票應於股東週年大會前第四個營業日的下午四時三十分前遞交至本公司之香港股份過戶登記分處卓佳證券登記有限公司，以便進行登記。繼續暫停買賣本公司股份已由二零二四年九月二日上午九時正起於聯交所暫停買賣，並將繼續暫停直至另行通知為止。股東及潛在投資者於投資或買賣本公司證券時務請謹慎行事。代表董事會孫佳良主席、行政總裁兼執行董事香港二零二五年四月十五日CLOSURE OF REGISTER OF MEMBERSThe r
289、egister of members of the Company will be closed from on the date of holding the annual general meeting(the“AGM”)and three business days before holding the AGM(both days inclusive)for the purpose of determining shareholders who are entitled to attend and vote at the AGM.In order to qualify for atten
290、ding and voting at the AGM,all transfer documents accompanied by the relevant share certificates should be lodged for registration with the Hong Kong branch share registrar and transfer office of the Company,Tricor Investor Services Limited by 4:30 p.m.on the fourth business day before the AGM.CONTI
291、NUED SUSPENSION OF TRADING Trading in the Shares of the Company on the Stock Exchange has been suspended with effect from 9:00 a.m.,2 September 2024 and will remain suspended until further notice.Shareholders and potential investors should exercise caution when investing or dealing in the securities
292、 of the Company.ON BEHALF OF THE BOARDSun JialiangChairman,Chief Executive Officer and Executive DirectorHong Kong15 April 202543中國通天酒業集團有限公司 二零二四年年報CORPORATE GOVERNANCE REPORT企業管治報告The board of directors(the“Directors”or the“Board”)of the Company(together with its subsidiaries,the“Group”)formulates
293、 and reviews the Groups policies and practices on corporate governance to keep their effectiveness from time to time in order to meet the rising expectations of shareholders,to comply with the increasingly stringent regulatory requirements,and to fulfill its commitment to excel in corporate governan
294、ce.The Board is committed to maintaining a good standard of corporate governance practices and business ethics in the firm belief that they are essential for maintaining and promoting investors confidence and maximizing shareholders returns.The principles in the Corporate Governance Code(the“CG Code
295、”)set out in Appendix 14 to the Rules Governing the Listing of Securities(the“Listing Rules”)on The Stock Exchange of Hong Kong Limited(the“Stock Exchange”)have been followed by the Company to shape its corporate governance structure.The CG Code sets out two levels of corporate governance practices
296、namely,“code provisions”that a listed company is to comply with or explain its decision if there is any deviation from the code provisions,and“recommended best practices”that a listed company is encouraged to comply with but need not explain if it does not.The Company had complied with the code prov
297、isions as set out in the CG Code during the year ended 31 December 2024(the“Year”),save for the following:CODE PROVISION C.2.1Pursuant to code provision C.2.1 of the CG Code,the responsibilities between the chairman and the chief executive officer(the“CEO”)should be segregated and should not be perf
298、ormed by the same individual.However,the Company does not have a separate chairman and CEO and Mr.Sun Jialiang currently performs these two roles.Mr.Sun is responsible for the overall business strategy and development and management of the Group.The Board considers that Mr.Sun,by serving as the chai
299、rman of the Board and the CEO of the Company,is able to lead the Board in major business decision making for the Group and enables the Boards decision to be effectively made,which is beneficial to the management and the development of the Groups business.Therefore,Mr.Sun assumes the dual roles of be
300、ing the chairman of the Board and the CEO of the Company notwithstanding the aforementioned deviation.為了達到股東對企業管治水平不斷提高的期望、符合日趨嚴謹的法規要求，以及實踐董事會對堅守優越企業管治的承諾，本公司（連同其附屬公司統稱 本集團）董事會（董事或 董事會）不時制訂及檢討本集團的企業管治政策及常規，以保持其有效性。董事會承諾致力維持良好的企業管治常規及商業道德標準，並堅信此舉對於維繫和提高投資者信心以及盡量提高股東回報至關重要。本公司已遵照香港聯合交易所有限公司（聯交所）證券上市規則
301、（上市規則）附錄十四所載企業管治守則（企業管治守則）的原則制定其企業管治架構。企業管治守則訂明兩個層次的企業管治常規，即上市公司必須遵守或對其偏離守則條文的決定作出解釋的 守則條文，以及鼓勵上市公司加以遵守但毋需解釋未遵守情況的 建議最佳常規。本公司於截至二零二四年十二月三十一日止年度（年度）已遵守企業管治守則所載守則條文，惟下文所述者除外：守則條文第C.2.1條根據企業管治守則守則條文第C.2.1條，主席與行政總裁（行政總裁）的職責應分開，不應由同一人士出任。然而，本公司並沒有單獨的主席和行政總裁，而是由孫佳良先生同時出任這兩個職務。孫先生負責整體業務策略及本集團發展和管理。董事會認為，孫先
302、生擔任本公司董事會主席兼行政總裁可領導董事會為本集團作出主要業務決策，並且讓董事會有效作出決策，從而有利於本集團業務的管理及發展。因此，儘管有上述的偏離，孫先生仍出任本公司董事會主席兼行政總裁雙重角色。CORPORATE GOVERNANCE REPORT 企業管治報告44CHINA TONTINE WINES GROUP LIMITED ANNUAL REPORT 2024董事會及管理層職能董事會負責向本集團提供有效及盡責的領導。各董事必須個別及共同真誠地以本集團及本公司股東的最佳利益為前提行事。董事會負責制定本集團的整體目標及策略，監督並評估其營運、財務表現及合規監控，並檢討本集團的企業管
303、治標準。董事會（經不時考慮董事會所成立多個委員會的推薦建議後）亦須就其他事宜作出決定，例如年度及中期業績、重大交易、董事委任或重新委任，以及股息及會計政策。本報告已載董事的履歷。高級管理層獲授以權責執行由董事會所採納的業務計劃和策略、協助董事會編製財務報表以供董事會批準、實施由董事會及或董事會所成立委員會就（其中包括）內部監控及風險管理提出的妥善程序並定期向董事會匯報，以及不時就重大事宜尋求董事會的批準。董事確認，無論相關權責如何規定，董事會亦有責任編製為本集團的財務業績提供真實和公平意見的財務報表。董事會根據書面職權範圍負責履行本公司企業管治的職能。董事會已（其中包括）審閱本公司之企業管治政
304、策及常規及其效能、審閱本集團遵守適用法律、法規及規例情況、審閱及監督本集團董事及高級管理層培訓及持續專業發展以及審閱此份企業管治報告，以履行其企業管治的職能及確保遵從上市規則。董事會已將各職責分派予若干董事委員會，包括審核委員會、薪酬委員會和提名委員會（統稱 董事委員會）。我們的董事會由三名執行董事、兩名非執行董事和三名獨立非執行董事組成。年度內，董事會定期會舉行會議以討論本集團整體方針、營運和財務表現以及企業管治。各董事出席會議的記錄載於下表：BOARD OF DIRECTORS AND MANAGEMENT FUNCTIONSThe Board is responsible for pro
305、viding effective and responsible leadership for the Group.The Directors,both individually and collectively,must act in good faith in the best interests of the Group and the shareholders of the Company.The Board is responsible for formulating the Groups overall objectives and strategies,monitoring an
306、d evaluating its operations,financial performance,compliance controls and reviewing the corporate governance standard of the Group.It also decides(after considering the recommendations from time to time from various committees established by the Board)on matters such as annual and interim results,ma
307、jor transactions,appointment or re-appointment of Directors,and dividend and accounting policies.The profiles of the Directors are set out in this report.Senior management is delegated with the responsibility for the execution of the business plans and strategies adopted by the Board,assisting the B
308、oard in the preparation of the financial statements for approval by the Board,the implementation of adequate procedures as put forward by the Board and/or the committees established by the Board regarding,among others,internal control and risk management and reporting regularly to and seeking approv
309、al from the Board on important matters from time to time.The Directors acknowledge that,notwithstanding the delegation,it is the responsibility of the Board for preparing the financial statements,which give a true and fair view of the financial results of the Group.The Board is responsible for perfo
310、rming the corporate governance functions of the Company,which are set out in the written terms of reference.The Board had,among others,reviewed the Companys policies and practices on corporate governance and their effectiveness,reviewed the Groups compliance with the applicable laws,rules and regula
311、tions,reviewed and monitored the training and continuous professional development of directors and senior management of the Group and reviewed this corporate governance report in the discharge of its corporate governance functions and to ensure compliance with the Listing Rules.The Board has delegat
312、ed various responsibilities to certain Board committees including the Audit Committee,the Remuneration Committee and the Nomination Committee(collectively,the“Board Committees”).Our Board comprises 3 executive Directors,2 non-executive Directors and 3 independent non-executive Directors.During the Y
313、ear,the Board had meetings regularly to discuss the overall strategy,the operational and financial performance and the corporate governance of the Group.The attendance record of each of the Directors is tabulated as follows:CORPORATE GOVERNANCE REPORT 企業管治報告45中國通天酒業集團有限公司 二零二四年年報Annual generalmeetin
314、g held on13 June 2024Number of board meetings attended/held during the Year於二零二四年六月十三日舉行的股東週年大會年度內出席舉行的董事會會議次數Name姓名Number of meeting(s)會議次數121Executive Directors執行董事Mr.Sun Jialiang(Chairman and CEO)(Appointed on 30 September 2024)孫佳良先生（主席及行政總裁）（於二零二四年九月三十日獲委任）N/A 不適用8/8Mr.Huang Chuwu(Appointed on 3
315、0 September 2024)黃楚武先生（於二零二四年九月三十日獲委任）N/A 不適用8/8Mr.Wang Guangyuan(Resigned on 12 June 2024 as Chairman,Chief Executive Officer and Executive Director)王光遠先生（於二零二四年六月十二日辭任主席、行政總裁兼執行董事）0/14/4Mr.Zhang Hebin(Removed on 30 September 2024)張和彬先生（於二零二四年九月三十日被罷免）1/112/13Ms.Wang Lijun(Appointed on 12 June 2024
316、 as Chairlady,resigned on 25 November 2024 as Chairlady and Executive Director)王麗君女士（於二零二四年六月十二日獲委任為主席並於二零二四年十一月二十五日辭任主席兼執行董事）1/114/16Mr.Wang Junyao(Appointed on 14 June 2024 and removed on 25 September 2024)王俊堯先生（於二零二四年六月十四日獲委任並於二零二四年九月二十五日被罷免）N/A 不適用9/9Mr.Zhang Xuexin(Appointed on 25 September 202
317、4 and resigned on 25 November 2024)張學鑫先生（於二零二四年九月二十五日獲委任並於二零二四年十一月二十五日辭任）N/A 不適用3/4Mr.Shen Chengbo(Appointed on 25 September 2024 and resigned on 25 November 2024)沈成波先生（於二零二四年九月二十五日獲委任並於二零二四年十一月二十五日辭任）N/A 不適用4/4Non-executive Directors非執行董事Mr.Li Jerry Y.李瑜鴻先生0/19/21Mr.Zhu Minghui朱明徽先生1/111/21Mr.Pei Z
318、haolun(Appointed on 25 September 2024 and resigned on 25 November 2024)裴兆倫先生（於二零二四年九月二十五日獲委任並於二零二四年十一月二十五日辭任）N/A 不適用4/4Mr.Qiu Ziwei(Appointed on 13 November 2024 and resigned on 29 November 2024)邱子維先生（於二零二四年十一月十三日獲委任並於二零二四年十一月二十九日辭任）N/A 不適用2/2Independent Non-executive Directors獨立非執行董事Mr.Li Liang(App
319、ointed on 30 September 2024)李良先生（於二零二四年九月三十日獲委任）N/A 不適用8/8Ms.Lui Mei Ka(Appointed on 30 September 2024)雷美嘉女士（於二零二四年九月三十日獲委任）N/A 不適用8/8Mr.Chan Wai Kit(Appointed on 30 September 2024)陳偉傑先生（於二零二四年九月三十日獲委任）N/A 不適用8/8Dr.Lau Sung Tat Vincent(Appointed on 25 September 2024 and resigned on 2 December 2024)劉
320、崇達博士（於二零二四年九月二十五日獲委任並於二零二四年十二月二日辭任）N/A 不適用6/6Dr.Cheng Vincent(Retired on 13 June 2024,re-appointed on 14 June 2024 and resigned on 1 September 2024)鄭嘉福博士（於二零二四年六月十三日退任、於二零二四年六月十四日重獲委任並於二零二四年九月一日辭任）1/110/11Mr.Lai Chi Keung,Albert(Retired on 13 June 2024)黎志強先生（於二零二四年六月十三日退任）1/14/4Mr.Yang Qiang(Removed
321、 on 30 September 2024)楊強先生（於二零二四年九月三十日被罷免）0/112/13Ms.Zhang Shiqing(Appointed on 14 June 2024 and resigned on 1 September 2024)張仕青女士（於二零二四年六月十四日獲委任並於二零二四年九月一日辭任）N/A 不適用6/7Mr.Chong Lok Man(Appointed on 25 September 2024 and resigned on 25 November 2024)莊樂文先生（於二零二四年九月二十五日獲委任並於二零二四年十一月二十五日辭任）N/A 不適用4/4M
322、r.Ge Honghuang(Appointed on 25 September 2024 and resigned on 25 November 2024)葛洪洸先生（於二零二四年九月二十五日獲委任並於二零二四年十一月二十五日辭任）N/A 不適用4/4Mr.Zhu Xiaoxiang(Appointed on 25 September 2024 and resigned on 25 November 2024)朱曉祥先生（於二零二四年九月二十五日獲委任並於二零二四年十一月二十五日辭任）N/A 不適用3/4Mr.Zhang Xiaowei(Appointed on 13 November 20
323、24 and resigned on 29 November 2024)張小衛先生（於二零二四年十一月十三日獲委任並於二零二四年十一月二十九日辭任）N/A 不適用1/2CORPORATE GOVERNANCE REPORT 企業管治報告46CHINA TONTINE WINES GROUP LIMITED ANNUAL REPORT 2024除了王光遠先生與王麗君女士有兄妹關係外，董事會成員間並無任何財務、業務、家族或其他關係。各獨立非執行董事已提供獨立性的書面年度確認，且董事會信納其獨立性於直至本報告日期符合上市規則第3.13條所載的獨立性標準。自本公司股份於二零零九年十一月十九日在聯交所主
324、板上市以來，本公司慣常每年定期舉行最少四次董事會會議，大約每季舉行一次。必要時亦會召開臨時會議，商討本集團的整體策略以及財務表現。全體董事將於舉行定期董事會會議前最少14天獲發董事會會議通告。臨時董事會會議通告須於合理時間內向董事發出。董事可選擇親身或以電子通訊的方式出席會議。本公司已按常規於會議前向所有董事提供有關會上討論事項的資料。所有董事將獲提供充分的資源以履行其職責，並在合理的要求下，可在合適情況下尋求獨立專業意見，費用由本公司承擔。各董事均有機會而本公司亦鼓勵各董事將其認為適當的事宜納入董事會會議的議程。委任及重選董事各執行董事均已與本公司訂立服務合約，特定任期為三年，其後自動重續延
325、期一年。任何一方可根據服務合約的條文向對方發出不少於三個月的事先書面通知，以終止有關合約。Save for the sibling relationship between Mr.Wang Guangyuan and Ms.Wang Lijun,the Board members have no financial,business,family or other relationships with each other.Each of the independent non-executive Directors has provided a written annual confirma
326、tion of his independence,and the Board is satisfied that his independence met the independence criteria set out in Rule 3.13 of the Listing Rules up to the date of this report.Since the listing of its shares on the Main Board of the Stock Exchange on 19 November 2009,the Company has adopted the prac
327、tice of holding board meetings regularly for at least four times a year at approximately quarterly intervals.Ad-hoc meetings will also be convened if necessary to discuss the overall strategy as well as financial performance of the Group.Notice of board meeting will be sent to all Directors at least
328、 14 days prior to a regular board meeting.Reasonable notice will be given to the Directors for ad-hoc board meetings.Directors may participate either in person or through electronic means of communication.The Company has adopted the practice to provide relevant materials to all Directors relating to
329、 the matters brought before the meetings.All the Directors will be provided with sufficient resources to discharge their duties,and,upon reasonable request,the Directors will be able to seek independent professional advice in appropriate circumstances,at the Companys expenses.Each of the Directors w
330、ill have the opportunity and is encouraged to include matters which he/she deems appropriate in the agenda for Board meetings.APPOINTMENT AND RE ELECTION OF DIRECTORSEach of the executive Directors has entered into a service contract with the Company for a specific term of three years,and is renewab
331、le automatically thereafter for successive terms of one year subject to termination in accordance with the provisions of the service contract or by either party giving the other not less than three months prior written notice.CORPORATE GOVERNANCE REPORT 企業管治報告47中國通天酒業集團有限公司 二零二四年年報Each of the indepe
332、ndent non-executive Directors has entered into a service contract with the Company for a specific term of two years,which is renewable automatically for successive terms of one year each commencing from the date next after the expiry of the then current term of his/her appointment and is subject to
333、termination in accordance with the provisions of the service contract or by either party giving the other not less than one months prior written notice.In accordance with the Companys bye-laws,each year,one-third of the Directors(including executive Directors and independent non-executive Directors)for the time being will retire from office by rotation provided that every Director shall be subject
0731-84720580
sgpjbg002
工作日 9:30 - 18:00
研報
新質生產力
DeepSeek?
低空經濟
大模型
AI Agent
AI Infra
具身智能
自動駕駛
寵物
銀發經濟
人形機器人
企業出海
算力
微短劇
薪酬
白皮書
創新藥
人工智能
AI產業
信息科技
互聯網
消費經濟
汽車交通
電商零售
傳媒娛樂
醫藥健康
投資金融
能源環境
地產建筑
傳統產業
英文報告
其它
最新報告
中英對照
全文搜索
報告精選
PDF上傳翻譯
多格式文檔互轉
入駐&報告售賣
會員權益
機構報告
券商研報
財報庫
專題合集
英文報告
數據圖表
會議報告
其他資源
行業聚焦
芯片產業
熱點概念
全球咨詢智庫
人工智能
500強
新質生產力
會議峰會
新能源汽車
企業年報
互聯網
公司研究
行業綜觀
消費教育
科技通信
醫藥健康
人力資源
投資金融
汽車產業
物流地產
電子商務
傳統產業
傳媒營銷
其它
2025低空經濟/低空產業報告合集（共49套打包）
2025年智算中心/AIDC/AI數據中心研究報告合集（共37套打包）
AI、科技與通信
廣告、傳媒與營銷
消費、零售與支付
HR、文化與旅游
金融、保險與投資
能源、環境與工業
醫療制藥與大健康
物流、地產與建筑
其他行業
AI ? 科技 ? 通信
數字化
金融財經
智能制造
電商傳媒
地產建筑
醫療醫學
能源化工
其他行業
收藏
下載
2025-05-20
AI查數
行業數據
政策法規
商業模式
產業鏈
競爭格局
市場規模
產業概述
其它
2025年
AI讀財報
年報
一季報
半年報
三季報
IPO招股書
社會責任報告
A股
IPO申報
港股
美股&全球
新三板
掃碼登錄
手機快捷登錄
賬號登錄
