中国圣牧中期报告2023

Corporate Profile China Shengmu Organic Milk Limited (the “Company” or“Shengmu”, together with its subsidiaries, the “Group”) is anintegrated “Forage Grass Planting, Cows Breeding” desert eco-organic circularraw milk enterprise, covering the entire value chain of the dairy industry, from forage grassplanting and cows breeding to raw milk production. With a safe milk source base as the core, organic planting and breeding, high quality organic raw milk as thebasis, Shengmu is able to secure partnerships with downstream emulsion companies. Currently, the Group has33 farms with a stock of 139,900 cows of which 22 are certified organic farms and 3 are DHA farms. and a dailyproduction capacity of approximately 2,075 tonnes of fresh milk, Shengmu’s unique organic eco-sand treatmentindustry system in the Ulan Buh Desert has been selected by the United Nations Global Compact as the bestintegrated practice in the “Sustainable Production and Consumption” category. The raw milk produced by theCompany is also the first brand in mainland China that is dually accredited under organic standards and in China and EU. 3313.992,075223DHA Contents 2582234363738404244 Corporate InformationHighlightsManagement Discussion and AnalysisReport of the DirectorsReport on Review of Interim Financial StatementInterim Condensed Consolidated Statement of Profit or LossInterim Condensed Consolidated Statement of Comprehensive IncomeInterim Condensed Consolidated Statement of Financial PositionInterim Condensed Consolidated Statement of Changes in EquityInterim Condensed Consolidated Statement of Cash FlowsNotes to Interim Condensed Consolidated Financial Information Corporate Information Board of DirectorsEXECUTIVE DIRECTORMr. ZHANG Jiawang(Chief Executive Officer) NON-EXECUTIVE DIRECTORS Mr. LU Minfang(Chairman)Mr. ZHANG PingMr. ZHAO JiejunMr. SUN QianMs. SHAO Lijun INDEPENDENT NON-EXECUTIVE DIRECTORS Mr. WANG LiyanMr. WU LiangMr. SUN Yansheng Company SecretaryMr. LI Kwok Fat Authorised Representatives Mr. ZHANG JiawangMr. LI Kwok Fat Audit Committee Mr. WANG Liyan(Chairman)Mr. ZHANG PingMr. WU Liang Remuneration Committee Mr. SUN Yansheng(Chairman)Mr. ZHANG PingMr. WU Liang Nomination Committee Mr. LU Minfang(Chairman)Mr. WANG LiyanMr. WU Liang Strategic and Sustainability Committee Mr. LU Minfang(Chairman)Mr. ZHANG JiawangMr. ZHAO JiejunMr. SUN Qian Registered Office P.O. Box 309Ugland HouseGrand Cayman, KY1-1104Cayman Islands P.O. Box 309Ugland HouseGrand Cayman, KY1-1104Cayman Islands Principal Place of Business in Hong Kong Room A, 32nd Floor COFCO Tower262 Gloucester RoadCauseway BayHong Kong 26232A Headquarter and Principal Place of Businessin China Food Industry ParkDeng Kou County Bayannur CityInner Mongolia Autonomous RegionPRC 1432 Stock Code The Main Board of The Stock Exchange of Hong Kong Limited1432 Principal Share Registrar and Transfer Office Maples Fund Services (Cayman) LimitedP.O. Box 1093, Boundary HallCricket SquareGrand Cayman KY1-1112Cayman Islands Maples Fund Services (Cayman) LimitedP.O. Box 1093, Boundary HallCricket SquareGrand Cayman KY1-1112Cayman Islands Hong Kong Branch Share Registrar andTransfer Office 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong Principal Bankers Bank of China LimitedAgricultural Bank of China LimitedBank of Communications Co., Ltd.Industrial Bank Co., Ltd.The Export-Import Bank of ChinaDBS Bank Ltd. Auditor Ernst & Young Legal AdvisorAS TO HONG KONG LAWLinklaters AS TO CAYMAN ISLANDS LAWMaples and Calder http://www.youjimilk.com Websitehttp://www.youjimilk.com (1)(2)20221231 Highlights Management Discussion and Analysis INDUSTRIAL OVERVIEW 2023593,0345.5%227,5888.2%4.8%1.0%2023(CPI)0.7%19,6726.5%5.8% In the first half of 2023, the macro-economy as a whole was on a recoverytrend, with China’s Gross Domestic Product (GDP) reaching RMB59,303.4billion, representing a year-on-year (“yoy”) growth of 5.5%; total retail sales ofconsumer goods reached RMB22,758.8 billion, representing a yoy growth of8.2%; and retail sales of food and oil products and beverages increased by 4.8%and 1.0% respectively in units above the designated size. In the first half of2023, the China’s consumer price index (CPI) rose by 0.7% yoy, and the nationalper capita disposable income reached RMB19,672, representing a nominal yoygrowth of 6.5%, and a real yoy growth of 5.8% after removing the price factor. 20231,512.14.6%2023155.3612.9%9588.7%202348.5628.2%33.3431.7%26.4232.8% In the first half of 2023, in terms of the dairy products industry, the dairyproducts consumer market showed a slow recovery, with the production ofthe country’s sizeable dairy products manufacturing enterprises reaching15.121 million tonnes during the Reporting Period, representing a yoy increaseof 4.6%. In terms of imports, the total amount of dairy products imported intoChina during the Reporting Period decreased significantly as compared withth