中国海洋发展2022-2023年报

CHARACTERISTICS OF GEM OF THE STOCK EXCHANGEOF HONG KONG LIMITED (THE “STOCK EXCHANGE”) GEM GEMhas been positioned as a market designed toaccommodatesmall and mid-sized companies to whichahigher investment risk may be attached than othercompanieslisted on the Stock Exchange.Prospectiveinvestors should be aware of the potential risks of investingin such companies and should make the decision to investonly after due and careful consideration. GEM Given that the companies listed on GEM are generally smallandmid-sized companies,there is a risk that securitiestraded on GEM may be more susceptible to high marketvolatility than securities traded on the Main Board of theStock Exchange and no assurance is given that there will bea liquid market in the securities traded on GEM. GEMGEMGEM HongKong Exchanges and Clearing Limited and the StockExchange take no responsibility for the contents of this report,make no representation as to its accuracy or completeness andexpressly disclaim any liability whatsoever for any loss howsoeverarising from or in reliance upon the whole or any part of thecontents of this report. This report, for which the directors (the“Directors”) of ChinaOcean Group Development Limited (the “Company”) collectivelyand individually accept full responsibility, includes particulars givenin compliance with the Rules Governing the Listing of Securitieson GEM of the Stock Exchange (the “GEM Listing Rules”) for thepurpose of giving information with regard to the Company. TheDirectors, having made all reasonable enquiries, confirm that tothe best of their knowledge and belief, the information containedin this report is accurate and complete in all material respects andnot misleading or deceptive, and there are no other matters theomission of which would make any statement herein or this reportmisleading. GEMGEM Contents 3Corporate Information6Chairman’s Statement9Management Discussion and Analysis21Biographies of Directors and Company Secretary25Report of the Directors39Corporate Governance Report53Environmental, Social and Governance Report67Independent Auditor’s Report74Consolidated Statement of Comprehensive Income76Consolidated Statement of Financial Position78Consolidated Statement of Changes in Equity81Consolidated Statement of Cash Flows83Notes to the Consolidated Financial Statements BOARD OF DIRECTORS Executive Directors Mr. Liu Rongsheng(Chairman)Mr. Cai Haipeng(Chief Executive Officer)(appointed on 9 September 2022)Mr. Fan GuochengMs. Wei Qing Non-executive Directors Mr. Lui Chun PongMr. Cai Haiming Independent non-executive Directors Mr. Kam Hou Yin, JohnMr. Liu QiangMr. Li Cao COMPANY SECRETARYMr. Lam Chi Ming, Francis COMPLIANCE OFFICERMs. Wei Qing AUTHORISED REPRESENTATIVES Ms. Wei QingMr. Lam Chi Ming, Francis Corporate Information (Continued) AUDIT COMMITTEE Mr. Kam Hou Yin, John(chairman)Mr. Li CaoMr. Liu Qiang REMUNERATION COMMITTEE Mr. Kam Hou Yin, John(chairman)Mr. Li Cao NOMINATION COMMITTEE Mr. Liu Rongsheng(chairman)Mr. Li CaoMr. Kam Hou Yin, John AUDITORElite Partners CPA Limited LEGAL ADVISERWang & Co. PRINCIPAL BANKER Bank of China (Hong Kong) LimitedDah Sing Bank, Limited REGISTERED OFFICE Clarendon House,2 Church Street,Hamilton HM 11,Bermuda Clarendon House,2 Church Street,Hamilton HM 11,Bermuda HEAD OFFICE AND PRINCIPAL PLACE OFBUSINESS IN HONG KONG Room 03, 22/F., China Resources Building,26 Harbour Road,Wanchai, Hong Kong 262203 PRINCIPAL PLACE OF BUSINESS IN CHINA Flat 14, 17th Floor, Block B,New Century Business Centre,Shi Xia North, No. 2 Street,Futian District, Shenzhen,Guangdong, China B17 14 SHARE REGISTRARS AND TRANSFER OFFICES Principal registrar Conyers Corporate Services (Bermuda) LimitedClarendon House,2 Church Street,Hamilton HM 11,Bermuda Conyers Corporate Services (Bermuda) LimitedClarendon House,2 Church Street,Hamilton HM 11,Bermuda Branch registrar 1617 Tricor Tengis Limited17/F, Far East Finance Centre,16 Harcourt Road,Hong Kong WEBSITE www.chinaoceangroup.com.hk www.chinaoceangroup.com.hk 8047 STOCK CODE8047 Chairman’s Statement On behalf of the board of directors (the “Board”), I hereby presentthe Annual Report of the Company and its subsidiaries (together,the “Group”) for the year ended 31 March 2023 (the “Year”) toour shareholders. RESULTS 225,900,000298,700,000(COVID-19)225,900,000298,700,000 TheRevenue for the Group decreased for the Year toapproximately HK$225.9 million as compared to approximatelyHK$298.7 million for the previous Year due to the continuedoutbreak of the novel coronavirus (COVID-19) and the relevantanti-epidemic measures, including but not limited to, the increasedhygieneand sanitary inspections,especially for aquatic andfood products at the ports in Mainland China. As a result, it hasprolonged the time required for customs clearance. As such, ithas adversely affected the Company’s operations resulting in adecrease in the revenue for the Year, because the customers weremore con