中国升海集团末期报告 2022/2023

( Incorporated in the Cayman Islands with limited liability )() Stock Code: 1676 2022/2023FINAL REPORT末期報告 CONTENTS 2Corporate Information4Chairman’s Statement6Biographical Details of the Directors8Management Discussion and Analysis15Report of the Directors25Corporate Governance Report40Independent Auditor’s Report46Consolidated Statement of Profit and Loss and Other Comprehensive Income47Consolidated Statement of Financial Position48Consolidated Statement of Changes in Equity49Consolidated Statement of Cash Flows51Notes to the Consolidated Financial Statements128Five-year Financial Summary CORPORATE INFORMATION EXECUTIVE DIRECTORSMr. Hu Hongchu(Joint-Chairman) (redesignated as executive director and appointed asJoint-Chairman on 28 April 2023)Mr. Liu Rongru(Chief Executive Officer)(resigned on 18 August 2023)Mr. Li Tingfeng(Chief Executive Officer)(appointed on 18 August 2023)Ms. Li Yanfeng (appointed on 10 October 2022 andresigned on 21 July 2023)Ms. Chen Chun (appointed on 24 June 2022) Ms. Chen Xiaoling (resigned on 24 June 2022) Mr. Liu Junting (redesignated as executive director on24 June 2022 and resigned on 28 April 2023) Mr. Li Dongfan (resigned on 24 June 2022) NON-EXECUTIVE DIRECTORSMr. Liu Chuanyi(Joint-Chairman) (appointed on 28 April 2023) Mr. Hu Hongchu (appointed on 10 October 2022 andredesignated as executive director on 28 April 2023) Mr. Chen Futian (appointed on 10 October 2022) INDEPENDENT NON-EXECUTIVE DIRECTORSMr. Liu Dajin (resigned on 11 November 2022) Mr. Chow Yun Cheung (appointed on 11 November 2022 andresigned on 21 July 2023)Mr. Shum Ching Hei (appointed on 21 July 2023) Mr. Lin Zhenqing (appointed on 24 June 2022) Mr. He Jian AUDIT COMMITTEEMr. Shum Ching Hei(Chairman)Mr. He JianMr. Lin Zhenqing NOMINATION COMMITTEEMr. He Jian(Chairman)Mr. Shum Ching HeiMr. Liu Junting REMUNERATION COMMITTEEMr. Lin Zhenqing(Chairman)Mr. Shum Ching HeiMr. He Jian COMPANY SECRETARYMr. Wong Sai Hung (appointed on 1 January 2023) FCPA Mr. Wong Wai LunFCPA(resigned on 1 January 2023) Mr. Hu HongchuMr. Li Tingfeng CORPORATE INFORMATION AUDITORSMcMillan Woods (Hong Kong) CPA Limited 18824 24/F, Siu On Centre,188 Lockhart Road,Wan Chai, Hong Kong 142 LEGAL ADVISER AS TO HONG KONG LAWWinston & Strawn 42/F, Bank of China Tower1 Garden RoadCentralHong Kong PRINCIPAL BANKERSBank of China Shishi BranchBOC Building, 2059 Ba Qi RoadShishi, Quanzhou, FujianPRC 2059 3881A China Construction Bank, Xiamen Hubin BranchUnit 1ANo. 388 South Hubin RoadXiamen, Fujian ProvinceChina Conyers Trust Company (Cayman) Limited PRINCIPAL REGISTRAR AND TRANSFER OFFICEConyers Trust Company (Cayman) Limited Cricket SquareHutchins DrivePO Box 2681, Grand CaymanKY1-1111, Cayman Islands Cricket SquareHutchins DrivePO Box 2681, Grand CaymanKY1-1111, Cayman Islands HONG KONG BRANCH REGISTRAR ANDTRANSFER OFFICE 183171712-1716 Computershare Hong Kong Investor Services LimitedShops 1712 -1716, 17th FloorHopewell Centre183 Queen’s Road EastWan ChaiHong Kong Cricket Square REGISTERED OFFICE IN THE CAYMAN ISLANDSCricket Square Hutchins DrivePO Box 2681, Grand CaymanKY1-1111, Cayman Islands Hutchins DrivePO Box 2681, Grand CaymanKY1-1111, Cayman Islands HEADQUARTER AND PRINCIPAL PLACE OFBUSINESS IN THE PRC2032, Baqi Road, Fengli Street, ShishiQuanzhou, Fujian 2032 19935 PRINCIPAL PLACE OF BUSINESS IN HONG KONGLevel 35, Infinitus Plaza, 199 Des Voeux RoadCentral, Sheung Wan, Hong Kong www.chinashenghaigroup.com WEBSITEwww.chinashenghaigroup.com 01676 STOCK CODE01676 3|China Shenghai Group Limited | Final Report 2022/2023 CHAIRMAN’S STATEMENT Dear Shareholders, Onbehalf of the Board of Directors of China Shenghai GroupLimited(the “Company”or “Shenghai”)and its subsidiaries(collectively, the “Group”), I report to shareholders our final reportfor the eighteen months ended 30 June 2023 (the “Year 2023” orthe “Reporting Period”). BUSINESS REVIEWThe COVID-19 outbreak lasted for more than three years and it 84.1530.8%530.27.5124.2%16.7151.5 was not until the end of 2022 that the outbreak gradually returnedto normal. However, the Mainland economy has not shown anysignificantimprovement after the recovery.Large real estateenterprises have suffered from a series of financial turmoil, andthe knock-on effect has begun to affect the general public, thusweakeningtheir spending power. With the uncertainty of theeconomic outlook and the increasing competition in the market,even though the Group’s attempts to strengthen marketing effortsinsupermarkets and adopt flexible pricing have yielded someresults, the gross profit of the products is still under pressure.Duringthe Reporting Period,the Group’s revenue from thefoodproducts business increased 530.8%to RMB530.2 millionfromRMB84.1 million in 2021.Segment gross profit increasedby 124.2% to RMB16.7 million from RMB7.5 million in 2021. Inaddition,due to the increase in selling and distribution costs,theGroup’s loss for the Reporting Period further exp