新耀莱年报 2023

)(Incorporated in Bermuda with limited liability於百慕達註冊成立之有限公司(Stock Code股份代號: 970) Contents Corporate Information2Financial Highlights4Chairman’s Statement7Management Discussion and Analysis10Report of the Directors30Corporate Governance Report45Biographies of Directors and Senior Management72Environmental, Social and Governance Report82Independent Auditor’s Report140Consolidated Statement of Comprehensive Income147Consolidated Statement of Financial Position149Consolidated Statement of Cash Flows151Consolidated Statement of Changes in Equity154Notes to the Financial Statements156Particulars of Investment Properties299Financial Summary300 Corporate Information Zheng Hao Jiang(as Co-Chairman(until 15 June 2023) and asChairman (with effect from 16June 2023) and Chief ExecutiveOfficer) REMUNERATION COMMITTEELam Kwok Cheong(Chairman)Choy Sze Chung, JojoLiu XiaoyiZheng Hao JiangZhu Lei Corporate Information China CITIC BankCorporation LimitedChina CITIC BankInternational LimitedOCBC Bank (Hong Kong) LimitedPing An Bank Co., LtdXiamen International BankCo., Ltd. Certified Public AccountantsRegistered Public Interest EntityAuditor PRINCIPAL OFFICE REGISTRAR(in Hong Kong) MUFG Fund Services(Bermuda) Limited4th Floor NorthCedar House41 Cedar AvenueHamilton HM12Bermuda Financial Highlights Revenue for the financial year ended 31 March 2023 decreasedby approximately 7.6% from approximately HK$4,324.5 million toapproximately HK$3,997.7 million as compared with that of the lastfinancial year. 4,324,500,0007.6%3,997,700,000 856,400,00032.5%578,100,000 Grossprofit for this financial year decreased by approximately32.5%from approximately HK$856.4 million to approximatelyHK$578.1 million. 30,600,000131,600,000 Other income, gains and losses for this financial year were lossesof approximately HK$30.6 million (2022: losses of approximatelyHK$131.6 million). 5,900,000 Impairmentloss recognised on trade receivables amounted toapproximately HK$5.9 million (2022: nil). 12,700,00056,400,000 Impairment loss recognised on loan receivables and loan interestreceivablesamounted to approximately HK$12.7 million(2022:approximately HK$56.4 million). 19.1% Sellingand distribution costs for this financial year decreasedby approximately 19.1% as compared with the same in the lastfinancial year. 3.2% Administrativeexpenses for this financial year increased byapproximately 3.2% as compared with the same in the last financialyear. 53,100,00034,100,000 Loss attributable to owners of the Company for the financial yearended31 March 2023 was approximately HK$53.1 million ascomparedwith profit attributable to owners of the Company ofapproximatelyHK$34.1 million recorded for the year ended 31March 2022. 15.510.0 Loss per share attributable to owners of the Company were HK15.5cents for this financial year as compared with earnings per share ofHK10.0 cents in the last financial year. No dividend was declared for this financial year (2022: nil). Financial Highlights Financial Highlights Total assetsTotal liabilitiesNet assetsNet tangible worth Gross profit marginReturn on equityCurrent ratioGearing ratio Chairman’s Statement 2023320235%19942023 At the opening ceremony of the National People’s Congress of thePRC held in March 2023, Premier Li Keqiang stated that Chinahas set the economic growth target of 5% for 2023, which is thelowest figure since 1994. This reflects that China does not pursueexcessive growth, but rather pursuing progress while maintainingstability, overcoming challenges with a pragmatic attitude, so astopromote China’s continued steady development.Since 2023,drivenby the overall recovery of China’s economy,the socialconsumption level has taken the lead in rebounding, and the overallperformance has been promising. In particular, leisure consumptionand tourism expenditure have become the main driving forces forChina’spositive economic growth.It is expected that domesticconsumption in the PRC will continue to be the main driver for therecovery of the domestic economy. COVID-194,324,500,0003,997,700,000856,400,000578,100,00087.5%53,100,00034,100,000 Lookingback to last year,due to the ongoing impact of theCOVID-19pandemic,the Group’s revenue decreased fromapproximatelyHK$4,324.5 million to approximately HK$3,997.7millionduring the financial year under review.Gross profit forthefinancial year under review decreased from approximatelyHK$856.4million last year to approximately HK$578.1 million.Theautomotive business remained as our major income driver,accounting for approximately 87.5% of the Group’s business. Lossattributable to owners reached to approximately HK$53.1 million inthis financial year as compared with a net profit of approximatelyHK$34.1 million in the last financial year. Chairman’s Statement China’s Luxury Goods and Automobiles Markets 20232 72022202210%52030 Anumber of reputable authorities,investment banks and globalresearch institutions have continued to publish the latest researc