玖龙纸业2023/2024中期业绩报告

Corporate Information2 Notes to the Condensed Consolidated Interim Financial InformationInvestor Relations and Communications with Shareholders Main Products4 Chairlady’s Report11Management Discussion and Analysis15Corporate Governance and Other Information23Condensed Consolidated Balance Sheet32Condensed Consolidated Income Statement34Condensed Consolidated Statement of Comprehensive Income36Condensed Consolidated Statement of Changes in Equity37Condensed Consolidated Statement of Cash Flows384069Definition71 BOARD OF DIRECTORSExecutive Directors Ms. Cheung YanJP(Chairlady)Mr. Liu Ming Chung(Deputy Chairman and Chief Executive Officer)Mr. Zhang Cheng Fei(Deputy Chairman and Deputy Chief Executive Officer)Mr. Ken Liu(Deputy Chairman and Vice President)Mr. Lau Chun Shun(Vice President)Mr. Zhang Lianpeng(Vice President)Mr. Zhang Yuanfu(Chief Financial Officer)Ms. Zhang Lianru(Deputy Chief Financial Officer)(appointed on 1 March 2024) Ken Liu Independent Non-Executive DirectorsMr. Ng Leung SingSBS, JPMr. Lam Yiu KinMs. Chan Man Ki MaggieMH, JPDr. Li HuiqunMr. Chen Kefu(retired on 11 December 2023) EXECUTIVE COMMITTEEMs. Cheung YanJP(Chairlady) Mr. Liu Ming ChungMr. Zhang Cheng FeiMr. Lau Chun Shun AUDIT COMMITTEEMr. Lam Yiu Kin(Chairman) Mr. Ng Leung SingSBS, JPMs. Chan Man Ki MaggieMH, JP REMUNERATION COMMITTEEMs. Chan Man Ki MaggieMH, JP(Chairlady) Mr. Ng Leung SingSBS, JPMr. Lam Yiu KinMr. Liu Ming ChungMr. Zhang Cheng Fei NOMINATION COMMITTEEMs. Cheung YanJP(Chairlady) Mr. Ng Leung SingSBS, JPMr. Lam Yiu KinMs. Chan Man Ki MaggieMH, JPMr. Zhang Cheng Fei CORPORATE GOVERNANCE COMMITTEEMr. Ng Leung SingSBS, JP(Chairman) Mr. Lam Yiu KinMs. Chan Man Ki MaggieMH, JPMs. Cheung YanJPMr. Zhang Cheng Fei ACGHKACG AUTHORISED REPRESENTATIVESMr. Zhang Cheng Fei Ms. Cheng Wai Chu, JudyACG, HKACG COMPANY SECRETARYMs. Cheng Wai Chu, JudyACG, HKACG ACGHKACG 2023/2024Interim Report REGISTERED OFFICE Clarendon House, 2 Church Street Hamilton HM 11, Bermuda Clarendon House, 2 Church StreetHamilton HM 11, Bermuda HONG KONG OFFICE 181One Harbour Square221(852) 3929 3800(852) 3929 3890 Unit 1, 22/F., One Harbour Square,181 Hoi Bun Road, Kwun Tong,Kowloon, Hong KongTel:(852) 3929 3800Fax:(852) 3929 3890 AUDITOR PricewaterhouseCoopersCertified Public Accountants andRegistered Public Interest Entity Auditor Conyers Dill & Pearman LEGAL ADVISERS Conyers Dill & Pearman (Bermuda)Sidley Austin (Hong Kong)Zhong Lun Law Firm (PRC) PRINCIPAL BANKERS Bank of CommunicationsBank of ChinaThe Export-Import Bank of ChinaChina Merchants BankIndustrial and Commercial Bank of ChinaChina Construction BankAgricultural Bank of ChinaChina Minsheng BankPostal Savings Bank of China SHARE REGISTRAR AND TRANSFER OFFICEPrincipal: Conyers Corporate Services (Bermuda) LimitedClarendon House2 Church StreetHamilton HM 11Bermuda Conyers Corporate Services (Bermuda) LimitedClarendon House2 Church StreetHamilton HM 11Bermuda 愨1617(852) 2980 1333(852) 2810 8185 Hong Kong branch:Tricor Investor Services Limited17/F, Far East Finance Centre,16 Harcourt Road, Hong KongTel:(852) 2980 1333Fax:(852) 2810 8185 WEBSITE www.ndpaper.comwww.irasia.com/listco/hk/ndpaper www.ndpaper.comwww.irasia.com/listco/hk/ndpaper MAIN PRODUCTS 1)01 LINERBOARD CATEGORY 1)Kraftlinerboard Kraftlinerboard is unbleached linerboard manufactured fromunbleached wood pulp and recovered paper. The Groupclassifies different classes of products into Nine Dragonsand Sea Dragon so as to cater to the different needs ofthe customers. 2)Testlinerboard 2) Testlinerboardis made of 100%recovered paper.Itmeetscertain customers’requirements for lower costandenvironmentally friendly purposes.The Groupclassifies different classes of products into Land Dragonhighperformance testlinerboard,Sea Dragontestlinerboard,Land Dragon testlinerboard and RiverDragontestlinerboard so as to cater to the differentneeds of the customers. 100% 3)White Top Linerboard 3) White top linerboard is a three-ply sheet of which thesurface layer is bleached, and caters to customers thatrequirea white surface for appearance or superiorprintability.The Group classifies different classes ofproducts into Nine Dragons and Sea Dragon so as tocater to the different needs of the customers. 4)Coated Linerboard 4) Coatedlinerboard is a four-ply sheet of which thesurfacelayer is coated on bleached wood pulp.Itpossessesthe characteristics of high performance(asthat of kraftlinerboard) and high printability (as that ofcoatedduplex board),which can replace thetraditional coated duplex board. 5)Coated White Cardboard 5) PLUSPLUS Coatedwhite cardboard is a one-side or both-sidecoated paper that has been calendered and finishedwiththe surface and bottom layers of raw paper inbleachedkraft pulp and the middle layer inmechanical wood pulp. Given its superior printability,it is mainly used in pharmaceuticals, daily necessities,electronicproducts,cosmetics,hang tags,carryingbags, packaging for t