高地股份2023中期报告

(Formerly known as China Shenghai Group Limited)()( Incorporated in the Cayman Islands with limited liability )() Stock Code: 1676 2023INTERIM REPORT中期報告 CONTENTS 2Corporate Information5Management Discussion and Analysis12Corporate Governance and Other Information18Consolidated Statement of Profit or Loss and Other Comprehensive Income – Unaudited20Consolidated Statement of Financial Position – Unaudited22Consolidated Statement of Changes in Equity – Unaudited24Consolidated Statement of Cash Flows – Unaudited25Notes to the Unaudited Interim Financial Report CORPORATE INFORMATION EXECUTIVE DIRECTORSMr. Hu Hongchu(Chairman) Mr. Li Tingfeng(Chief Executive Officer)(appointed on 18 August 2023)Mr. Liu Rongru(Chief Executive Officer)(resigned on 18 August 2023)Mr. Huang Jingsheng(appointed on 19 December 2023)Ms. Chen ChunMs. Li Yanfeng(resigned on 21 July 2023) NON-EXECUTIVE DIRECTORSMr. Liu Chuangyi(Joint-Chairman)(resigned on 19 December 2023)Mr. Chen Futian ) INDEPENDENT NON-EXECUTIVE DIRECTORSMr. Shum Ching Hei (appointed on 21 July 2023)Mr. Chow Yun Cheung(resigned on 21 July 2023)Mr. Yung Minda(appointed on 19 December 2023)Mr. Lin Zhenqing(resigned on 19 December 2023)Mr. He Jian AUDIT COMMITTEEMr. Shum Ching Hei(Chairman) Mr. He JianMr. Yung Minda NOMINATION COMMITTEEMr. He Jian(Chairman)Mr. Shum Ching HeiMr. Yung Minda CORPORATE INFORMATION REMUNERATION COMMITTEEMr. Yung Minda(Chairman) Mr. Shum Ching HeiMr. He Jian COMPANY SECRETARYMr. Wong Sai HungSolicitor, CPA AUTHORISED REPRESENTATIVESMr. Hu HungchuMr. Li Tingfeng AUDITORS 18824 McMillan Woods (Hong Kong) CPA Limited24/F, Siu On Centre,188 Lockhart Road,Wan Chai, Hong Kong LEGAL ADVISER AS TO HONG KONG LAWBird & Bird 186 6/F, The AnnexCentral Plaza18 Harbour RoadHong Kong 86 PRINCIPAL BANKERSXiamen Bank, Huachang Branch No. 86 Huachang RoadXiamen, Fujian ProvinceChina 3881A China Construction Bank, Xiamen Hubin BranchUnit 1ANo. 388 South Hubin RoadXiamen, Fujian ProvinceChina PRINCIPAL REGISTRAR AND TRANSFEROFFICE Conyers Trust Company (Cayman) LimitedCricket SquareHutchins DrivePO Box 2681, Grand CaymanKY1-1111, Cayman Islands Conyers Trust Company (Cayman) LimitedCricket SquareHutchins DrivePO Box 2681, Grand CaymanKY1-1111, Cayman Islands CORPORATE INFORMATION 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 REGISTERED OFFICE IN THE CAYMANISLANDSCricket Square Cricket SquareHutchins DrivePO Box 2681, Grand CaymanKY1-1111, Cayman Islands Hutchins DrivePO Box 2681, Grand CaymanKY1-1111, Cayman Islands HEADQUARTER AND PRINCIPAL PLACE OFBUSINESS IN THE PRC5th Floor, No. 5 Factory 5 Meixi Road, Huandong WatersTongon District, Huli Industrial ParkXiamen City, Fujian ProvincePRC PRINCIPAL PLACE OF BUSINESSIN HONG KONG 19935 Level 35, Infinitus Plaza199 Des Voeux RoadCentral, Hong Kong www.gaodiholdings.com WEBSITEwww.gaodiholdings.com 01676 STOCK CODE01676 MANAGEMENT DISCUSSIONAND ANALYSIS The board (the “Board”) of directors (the “Directors”)of Gaodi Holdings Limited (formerly known as ChinaShenghai Group Limited) (the “Company”) announcetheunaudited consolidated interim results of theCompany and its subsidiaries (collectively, the “Group”)for the six months ended 31 December 2023 (the“Reporting Period”), together with the comparativefigures for the corresponding period of 30 June 2022. BUSINESS REVIEWThe Group sells dried seafood, algae and fungi, and seafoodsnacks in the PRC. The Group(i)sourceshigh quality raw and processed raw materials, (ii) sub-contracts processing of the unprocessed raw materialstothird parties,(iii)packages products at its ownpackaging facilities or through its sub-contractors, and(iv) sells packaged products under its own brand “Wofan”. The Group also sells dried seafood, algae andfungi without packaging. The Group also engaged in theprocurement and sales of fast moving consumer goodssince early 2020. (i)(ii)(iii)(iv) 195.96.63.73.4%3.0%38.140.3 As driven by the revival of the Group’s food business,theGroup’s revenue increased to approximatelyRMB195.9million in the Reporting Period.Grossprofit for the Reporting Period recorded approximatelyRMB6.6million(six months ended 30 June 2022:approximately RMB3.7 million) and gross profit marginwas 3.4% (six months ended 30 June 2022: 3.0%). TheGroup recorded loss of approximately RMB38.1 million(six months ended 30 June 2022: loss of RMB40.3million). FOOD BUSINESSThe Group has a comprehensive product portfolio with 1003060 different raw materials, flavouring and packaging andconsiders each product to be distinctive. The Groupseeks to differentiate itself from its competitors byproviding a broad and convenient choice of safe andquality products, which creates additional opportunitiesto drive the overall sales. During the Reporting Period,the Group offered over 100 types of dried seafo