达力普控股2023 中期报告

(Incorporated in the Cayman Islands with limited liability)Stock code股份代號: 1921(於開曼群島註冊成立的有限公司) 2023INTERIM REPORT中期報告 CONTENTS 4Corporate Information10Glossary13Management Discussion and Analysis23Other Information38Consolidated Statement of Profit or Loss and Other Comprehensive Income39Consolidated Statement of Financial Position40Consolidated Statement of Changes in Equity42Condensed Consolidated Cash Flow Statement43Notes to the Unaudited Interim Financial Report71Review Report CORPORATE INFORMATION Board of Directors Executive Directors Mr. Meng Fanyong(Chairman)Mr. Zhang Hongyao(Vice-chairman)Ms. Xu WenhongMr. Meng YuxiangMs. Gan Shuya Non-executive DirectorMr. Yin Zhixiang Independent Non-executive Directors Mr. Guo KaiqiMr. Wong Jovi Chi WingMr. Cheng Haitao Audit and Risk Management Committee Mr. Wong Jovi Chi Wing(Chairman)Mr. Guo KaiqiMr. Cheng Haitao Remuneration Committee Mr. Guo Kaiqi(Chairman)Mr. Meng YuxiangMr. Cheng Haitao Nomination Committee Mr. Meng Fanyong(Chairman)Mr. Guo KaiqiMr. Cheng Haitao ESG ESG Committee Ms. Xu Wenhong(Chairlady)Mr. Guo KaiqiMr. Wong Jovi Chi Wing Company Secretary Mr. Lau Ying Kit Authorised Representatives Mr. Meng FanyongMr. Lau Ying Kit Auditor KPMGCertified Public AccountantsPublic Interest Entity Auditor registered in accordance withthe Accounting and Financial Reporting Council Ordinance8th Floor, Prince’s Building10 Chater RoadCentral, Hong Kong 108 Legal Advisers as to Hong Kong Laws 140 Chiu & Partners40th FloorJardine House1 Connaught PlaceHong Kong Registered Office Cricket Square, Hutchins DrivePO Box 2681Grand Cayman KY1-1111Cayman Islands Cricket Square, Hutchins DrivePO Box 2681Grand Cayman KY1-1111Cayman Islands Principal Place of Business in thePeople’s Republic of China No.1 Zhuangbei DistrictNanshugang RoadBohai New DistrictCangzhou CityHebei ProvincePRC Headquarters and Principal Place ofBusiness in Hong Kong Room 4006, 40th FloorJardine House1 Connaught PlaceHong Kong 1404006 Cayman Islands Principal Share Registrarand Transfer Office Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DrivePO Box 2681Grand Cayman KY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DrivePO Box 2681Grand Cayman KY1-1111Cayman Islands CORPORATE INFORMATION Hong Kong Branch Share Registrar andTransfer Office Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong 1617 www.dalipal.com Company’s Websitewww.dalipal.com 1921 Stock Code1921 Principal Bankers Hong Kong Bank of China (Hong Kong) LimitedDBS Bank (Hong Kong) LimitedHang Seng Bank LimitedThe Hongkong and Shanghai Banking Corporation Limited The PRC China Construction Bank Corporation Cangxian BranchBank of China Limited Cangzhou City Dongfeng Road Branch ir@dalipal.com Investor Relations Contactir@dalipal.com MANAGEMENT DISCUSSION AND ANALYSIS Business Review Main Business, Business Model and Industry Overviewof the Group for the Reporting Period As a high-end, intelligent and green energy equipmentmanufacturer, the Group is principally engaged in the research anddevelopment, production, technical services and sales of high-endenergy pipes and special seamless steel pipes. We have an extensiveproduct mix that is suitable for use in the development, miningand transmission of various categories of energy sources, includingoil, natural gas, shale gas and new energy, as well as pipes for themanufacturing of energy machineries. The Group’s products are divided into standard products andcustomised products on customers’ special requirements. Theproduction model adopted by the Group is “sales-oriented”. Thatis, relevant manufacturing units of the Group will coordinate theproduction, inspection and delivery of products based on thespecifications, performance, quantity and requirements of eachcustomers according to customers’ orders or contracts. In terms ofproduct sales models, domestic markets are mainly direct sales whileboth direct sales and distributorship are applicable to internationalmarkets. During the Reporting Period, we had a good start in the firstquarter in the domestic market as the Covid-19 pandemic fadedwith the general expectation of economic recovery. In the secondquarter, market prices of similar products demonstrated downwardfluctuations and fundamental demands for our products alsotrended downwards. However, from a closer look at various marketsegments, during the first half of 2023, we saw a period-over-periodgrowth in oil and gas production, supporting demands for oil, gasand new energy pipes. During the first half of 2023, the exportmarkets continued the strong momentum seen in the second halfof 2022. According to the data from the General Administrationof Customs, exports for the first half of 2023 increased by 51.27%period-over-period, where oil and gas pipes were among the majorcontributors. During the Reporting Period, we have also witnessed achang