中国食品2023年中期报告

CORPORATE PROFILE China Foods Limited (“China Foods” or the “Company” and together with its subsidiaries,the “Group”), a subsidiary of COFCO Corporation (“COFCO”) and the only focusedbeverage platform of COFCO, is listed on the main board of The Stock Exchange of HongKong Limited (Stock Code: 506). The Company mainly manufactures, distributes, markets and sells the Coca-Cola seriesproducts at nineteen provincial-level administrative regions in the PRC through COFCOCoca-Cola Beverages Limited (“COFCO Coca-Cola”), a 65%-owned joint-venture with TheCoca-Cola Company. COFCO Coca-Cola offers twenty-four brands of products in ten majortypes of beverages which include sparkling drink, juice, water, milk drink, energy drink,tea, coffee, functional nutrition drink, sports drink and plant-based protein drink. 506 65%191024 CONTENTS CORPORATE INFORMATION2 MANAGEMENT DISCUSSION AND ANALYSIS4 CORPORATE GOVERNANCE HIGHLIGHTS AND OTHER INFORMATION15 REPORT ON REVIEW OF INTERIM FINANCIAL INFORMATION19 CONDENSED CONSOLIDATED INTERIM FINANCIAL INFORMATION Interim Condensed Consolidated Statement of Profit or Loss21 Interim Condensed Consolidated Statement of Comprehensive Income22 Interim Condensed Consolidated Statement of Financial Position23 Interim Condensed Consolidated Statement of Changes in Equity25 Interim Condensed Consolidated Statement of Cash Flows26 Notes to the Unaudited Condensed ConsolidatedInterim Financial Information27 DIRECTORS Chairman and Executive DirectorMr. Qing Lijun(Managing Director) Executive DirectorMr. Shen Xinwen Non-executive Directors Mr. Chen ZhigangMr. Chen Gang Independent Non-executive Directors Mr. Li Hung Kwan, AlfredMr. Mok Wai Bun, BenMs. Leung Ka Lai, Ada,SBS AUDIT COMMITTEE Mr. Li Hung Kwan, Alfred(Committee Chairman)Mr. Mok Wai Bun, BenMs. Leung Ka Lai, Ada,SBS ENVIRONMENTAL, SOCIAL ANDGOVERNANCE COMMITTEE Mr. Shen Xinwen(Committee Chairman)Mr. Chen ZhigangMr. Mok Wai Bun, Ben NOMINATION COMMITTEE Mr. Qing Lijun(Committee Chairman)Mr. Li Hung Kwan, AlfredMr. Mok Wai Bun, Ben REMUNERATION COMMITTEE Mr. Mok Wai Bun, Ben(Committee Chairman)Mr. Li Hung Kwan, AlfredMs. Leung Ka Lai, Ada,SBS EXECUTIVE COMMITTEE Mr. Qing Lijun(Committee Chairman)Mr. Shen Xinwen COMPANY SECRETARY Ms. Liu Kit Yee, Linda SOLICITORSConyers, Dill & Pearman Conyers, Dill & Pearman AUDITORPricewaterhouseCoopers PRINCIPAL BANKERS Bank of China (Hong Kong) LimitedChina CITIC Bank Corporation LimitedChina Construction Bank CorporationChina Merchants BankCMB Wing Lung Bank Limited REGISTERED OFFICE Clarendon House2 Church StreetHamilton HM 11Bermuda Clarendon House2 Church StreetHamilton HM 11Bermuda PRINCIPAL OFFICE IN HONG KONG 33/F., COFCO Tower262 Gloucester RoadCauseway BayHong Kong 26233 BRANCH SHARE REGISTRAR ANDTRANSFER OFFICE IN HONG KONG 1617 Tricor Progressive Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong www.chinafoodsltd.com COMPANY WEBSITE www.chinafoodsltd.com CURRENT STATUS China Foods exclusive franchise to manufacture, market anddistribute products under the Coca-Cola series encompasses 19provincial-level administrative regions, covering approximately 50% ofmainland China’s population. The Company provides consumers with10 major types of beverages namely sparkling drinks, juices, water,milk drinks, energy drinks, tea, coffee, functional nutrition drinks,sports drinks and plant-based protein drinks under 24 brands. 1950%1024 The Company has approximately 10,000 salespersons to serveover 2.8 million customers, with the controllable business, beingcustomer orders served directly by our sales representatives,accounting for nearly 90% of the overall business. 128090% In early of the year, the Company completed the acquisition ofthe non-sparkling beverage production business of the tripartitejoint venture formed by the Company, The Coca-Cola Companyand Swire Pacific Limited, in our franchise area, which helpedimprove the supply chain capabilities and quality of the Company,effectively reduce the production and management costs of theCompany’s non-sparkling beverage, and contribute to the overallprofit margin of the Company. Apart from operating the Coca-Colaseries products business, the smart retail business also achievedsatisfactory results during the period, with a more than double-increase in the revenue and ranking second in the industry interms of the number of equipment. In the future, our vision is tobecome a world-class food and beverage group. DEVELOPMENT STRATEGY !!! In recent years, consumers have paid more and more attentionto corporate social responsibility, environmental protection andsustainable development. In addition to concerns on productquality, nutritional value, packaging appearance and price, theyalso require enterprises to fulfill their social responsibilities inthe process of production and logistics. China Foods has fullyimplemented the concept of green and sustainable development,and put forward chal