胜龙国际2022/23 年报

2022/23Annual Report Contents CORPORATE INFORMATION2STATEMENT FROM THE BOARD OF DIRECTORS4MANAGEMENT DISCUSSION AND ANALYSIS6DIRECTORS’ ANDSENIOR MANAGEMENT’S PROFILE20DIRECTORS’ REPORT25CORPORATE GOVERNANCE REPORT36ENVIRONMENT, SOCIAL ANDGOVERNANCE REPORT59INDEPENDENT AUDITOR’S REPORT85 CONSOLIDATED STATEMENT OF PROFIT ORLOSS AND OTHER COMPREHENSIVE INCOME91 CONSOLIDATED STATEMENT OFFINANCIAL POSITION92 CONSOLIDATED STATEMENT OFCHANGES IN EQUITY94 NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS97 FIVE-YEAR FINANCIAL SUMMARY187 Corporate Information BOARD OF DIRECTORS EXECUTIVE DIRECTORS: LIU Shiwei (appointed as executive director and Chairmanon 13 July 2022)WANG Baozhi (appointed as executive director andChief Executive Officer on 13 July 2022)DING Lei (re-designated as Chief Operating Officer on 13 July 2022) DENG Ganghui (resigned on 13 July 2022) INDEPENDENT NON-EXECUTIVE DIRECTORS: DENG YougaoWONG Chi YanCHEUNG Ka Yue (appointed on 19 October 2022)CHONG Lok Man (resigned on 19 October 2022) AUDIT COMMITTEE WONG Chi Yan(Chairman)DENG YougaoCHONG Lok Man (resigned on 19 October 2022)CHEUNG Ka Yue (appointed on 19 October 2022) REMUNERATION COMMITTEE DENG Yougao(Chairman)DING LeiCHONG Lok Man (resigned on 19 October 2022)CHEUNG Ka Yue (appointed on 19 October 2022) NOMINATION COMMITTEE DING Lei(Chairman)DENG YougaoCHONG Lok Man (resigned on 19 October 2022)CHEUNG Ka Yue (appointed on 19 October 2022) COMPANY SECRETARY LAM Mei Wai Michelle (appointed on 28 April 2022)LAU Tsz Kwan (appointed on 24 February 2022 andresigned on 28 April 2022) AUDITOR CCTH CPA Limited(appointed on 27 April 2023)ZHONGHUI ANDA CPA Limited(resigned on 26 April 2023) Corporate Information PRINCIPAL BANKERS Shanghai Pudong Development Bank Co., LtdNanyang Commercial Bank Limited REGISTERED OFFICE Clarendon House2 Church StreetHamilton HM 11Bermuda Clarendon House2 Church StreetHamilton HM 11Bermuda PRINCIPAL OFFICE 19/F., Guangdong Finance Building,88 Connaught Road West,Hong Kong 8819 PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE MUFG Fund Services (Bermuda) Limited4th floor, North Cedar House41 Cedar AvenueHamilton HM 12Bermuda MUFG Fund Services (Bermuda) Limited4th floor, North Cedar House41 Cedar AvenueHamilton HM 12Bermuda HONG KONG BRANCH SHARE REGISTRARAND TRANSFER OFFICE 1617 Tricor Secretaries Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong STOCK CODE 1182 1182 CONTACTS (852) 3548 2562(852) 3753 3226www.successdragonintl.comshareholder@successdragonintl.com Telephone: (852) 3548 2562Facsimile: (852) 3753 3226Website: www.successdragonintl.comEmail: shareholder@successdragonintl.com Statement from the Board of Directors Dear Shareholders, On behalf of the Board, I am glad to present to the shareholders theannual report of Success Dragon International Holdings Limited (the“Company”) and its subsidiaries (the “Group”) for the financial yearended 31 March 2023. The Group has already completely converted into a business solelyengaging in gold processing and trading over the last year. Theoperation of outsourced business process management for electronicgaming machines in Macau and money lending business were ceasedconsecutively during the year. Looking ahead, increasing recession risk and geopolitical risk willserve as support points for gold price in 2023. The above factorshave stimulated the interest of investors and global central banks inpurchasing gold, and we expect that the demand and price of the goldwill likely to rise. The Group will closely monitor the market trends incommodity prices and take necessary actions to control any potentialrisks. The geopolitical uncertainties brought about by the prolongedChina-western trade and culture frictions as well as the on-goinginflation will continue to drive gold as a safe-haven asset throughout2023. The Group currently has a production line with an annual processingcapacity of 990 tonnes gold-laden carbon in Yunnan province, thePeople’s Republic of China (“PRC” or “China”), for the extractionof gold and other precious metals from gold-laden carbon. In lightof the continued delays in respect of the construction of the goldore processing new plant in Henan and in order for the Group tomaintain its business momentum and expediate the expansion of itsgold processing and trading business, the Group leased several goldprocessing plants in Henan Province which generated a significantportion of revenue and profits for gold ore processing and tradingbusiness of the Group during the year. There was a significant increasein revenue from gold processing business around 152.0% during theyear. 990152.0% Inaddition to the existing operations,the establishment of theself-owned gold ore processing plant is still the long-term goal of theGroup as it can generating higher revenues to the Group and increasingreturns to the shareholders. However, the construction of the newplant was delayed as the Group is still awaiting response fr