2025年年度报告（英文版）

2025 Annual Report of Tsann Kuen (China) Enterprise Co., Ltd.1TSANN KUEN (CHINA) ENTERPRISE CO., LTD.2025 Annual ReportMarch 20262025 Annual Report of Tsann Kuen (China) Enterprise Co., Ltd.22025 Annual ReportSection I. Important Statements, Contents & TermsThe Board of Directors, the Supervisory Committee as well as all directors, supervisors andsenior management staff of Tsann Kuen (China) Enterprise Co., Ltd. (hereinafter referred to as “theCompany”) warrant that this Report is factual, accurate and complete without any false information,misleading statements or material omissions. And they shall be jointly and severally liable for that.Cai Yuansong, company principal, and Wu Jianhua, head of the accounting work & theaccounting division (head of accounting) jointly declare that the financial statements carried in thisReport are factual, accurate and complete.All directors have attended the board meeting to review this report.Any forward-looking statement such as those involving the future operational plans in thisReport shall not be considered as virtual promises of the Company to investors. And investors arekindly reminded to pay attention to possible risks.The Company’s profit distribution preplan upon review and approval of this board meeting:Based on the total 185,391,680 shares, a cash dividend of RMB 1.0 (tax included) will bedistributed for every 10 shares held by shareholders. No bonus shares will be granted and no capitalreserve will be turned into share capital.This Report is prepared in both Chinese and English. Should there be any discrepancybetween the two versions, the Chinese version shall prevail.2025 Annual Report of Tsann Kuen (China) Enterprise Co., Ltd.3ContentsSection I. Important Statements, Contents & Terms .................................................................2Section II. Company Profile & Financial Highlights................................................................. 5Section III. Management Discussion & Analysis..................................................................... 10Section IV.Corporate Governance, Environment and Society................................................ 33Section V:Significant Events.................................................................................................... 56Section VI Shareholding Changes and Shareholder Status..................................................... 63Section VII Bonds.....................................................................................................................69Section VIII Financial Report..................................................................................................69Documents Available for Reference1. The financial statements signed and sealed by the company principal and the head of theaccounting work & the accounting division (head of accounting) of the Company;2. The original Auditor’s Report sealed by the CPA firm, as well as signed and sealed by theCPAs; and3. The originals of al