中国天化工中期报告2023

(Incorporated in the Cayman Islands and continued in Bermuda with limited liability) FINANCIAL HIGHLIGHTS財務摘要 For the six months ended 31 December 2023 The board (the “Board”) of directors (“Directors”) ofChina Zenith Chemical Group Limited (the “Company”)is pleased to announce the unaudited condensedconsolidated interim financial statements (the “InterimFinancial Statements”) of the Company and itssubsidiaries (collectively, the “Group”) for the sixmonths ended 31 December 2023 (the “Period”). TheInterim Financial Statements have not been auditedbut have been reviewed by the Company’s auditcommittee (the “Audit Committee”). CONDENSED CONSOLIDATED INCOME STATEMENT簡明綜合收益表 For the six months ended 31 December 2023 CONDENSED CONSOLIDATED INCOME STATEMENT (CONTINUED)簡明綜合收益表（續） CONDENSED CONSOLIDATED INCOME STATEMENT (CONTINUED)簡明綜合收益表（續） For the six months ended 31 December 2023 CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME簡明綜合全面收入報表 For the six months ended 31 December 2023 CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (CONTINUED)簡明綜合全面收入報表（續） For the six months ended 31 December 2023 CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION簡明綜合財務狀況報表 As at 31 December 2023 CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)簡明綜合財務狀況報表（續） CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY簡明綜合權益變動報表 For the six months ended 31 December 2023 CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (CONTINUED)簡明綜合權益變動報表（續） For the six months ended 31 December 2023 CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS簡明綜合現金流量報表 For the six months ended 31 December 2023 NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS簡明綜合財務報表附註 For the six months ended 31 December 2023 1. 1.BASIS OF PREPARATIONAND ACCOUNTING POLICIES 343416 These unaudited condensed consolidatedfinancial statements have been prepared inaccordance with Hong Kong AccountingStandard 34 “Interim Financial Reporting”(“HKAS 34”) issued by the Hong Kong Instituteof Certified Public Accountants (the “HKICPA”)as well as with the applicable disclosurerequirements of Appendix 16 to the Rules(the “Listing Rules”) Governing the Listing ofSecurities on The Stock Exchange of HongKong Limited (the “Stock Exchange”). These condensed consolidated financialstatements have been prepared on thehistorical cost basis except for certain financialinstruments that are measured at fair values, asappropriate. 991,863,0001,010,510,000 As at 31 December 2023, the Group hadn e t c u r r e n t l i a b i l i t i e s o f a p p r o x i m a t e l yH K $ 9 9 1 , 8 6 3 , 0 0 0a n d n e t l i a b i l i t i e s o fapproximately HK$1,010,510,000. Theseconditions indicate the existence of a materialuncertainty which may cast significant doubton the Group’s ability to continue as a goingconcern. Therefore, the Group may be unableto realise its assets and discharge its liabilities inthe normal course of business. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)簡明綜合財務報表附註（續） For the six months ended 31 December 2023 1. 1.BASIS OF PREPARATIONAND ACCOUNTING POLICIES (Continued) In preparing the condensed consolidatedfinancial statements, the directors of theCompany have given careful considerationto the current and anticipated future liquidityof the Group and the ability of the Group toachieve profitable and positive cash flows fromoperations in immediate and long terms. Inorder to strengthen the Group’s capital baseand maintain sufficient financing necessary forfuture business development, the directors havetaken the following plans and measures: 16293 –Following the deconsolidation (asdetailed in note 16), Mudanjiang BetterD a y P o w e r L i m i t e d ( “M u d a n j i a n gBD Power”), the then wholly-owneds u b s i d i a r y o f t h e C o m p a n y , i s i nthe process of voluntary liquidation.The Company expects a written-offreceivable due from Mudanjiang BDPower of approximately HK$293 millionwill be settled out of the proceeds of itsliquidation; 197148 –The Company is in the process ofnegotiating for a settlement of a bondpayable to several bondholders in theamount of approximately HK$197 million.In the event that a proposed settlementis reached between the Company andbondholders, the Company expectsthe payment schedule of relevant bondpayable in the amount of approximatelyH K $ 1 4 8 m i l l i o n t o b e d e f e r r e d o rdiscounted; NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)簡明綜合財務報表附註（續） For the six months ended 31 December 2023 1. 1.BASIS OF PREPARATIONAND ACCOUNTING POLICIES (Continued) 9562262 The Group had several idle right-of-use assets and buildings located inMudanjiang City, Heilongjiang Province,the People’s Republic of China (“PRC”)and Hong Kong with a total carryinga m o u n to f a p p r o x i m a t e l y H K $ 9 5m i l l i o n a n d a p p r o x i m a t e l y H K $ 6 2million respectively. These right-of-use assets and buildings are availableto be disposed of,