华宝国际2023年度报告

Contents 131Consolidated Statement of Financial Position133Consolidated Income Statement134Consolidated Statement of Comprehensive Income135Consolidated Statement of Changes in Equity137Consolidated Statement of Cash Flows139Notes to the Consolidated Financial Statements272Five Year Financial Summary274Glossary 2Corporate Information4Financial Highlights5Company Profile and Corporate Culture8Chairman’s Report10Management Discussion and Analysis36Biographical Details of Directors andSenior Management42Corporate Governance Report72Investor Relations Report76Directors’ Report121Independent Auditor’s Report Corporate Information BOARD OF DIRECTORS Executive Directors Ms. CHU Lam Yiu(Chairlady & CEO)Mr. LAM Ka Yu(Co-Chairman)Mr. XIA Liqun(Vice Chairman & President)Mr. POON Chiu Kwok(Vice President & Company Secretary)Ms. LAM Ka YanMs. CHOY Man Har Independent Non-executive Directors Jonathan Jun YAN Mr. LEE Luk ShiuMr. Jonathan Jun YANMr. HOU Haitao Jonathan Jun YAN AUDIT COMMITTEE Mr. LEE Luk Shiu(Chairman)Mr. Jonathan Jun YANMr. HOU Haitao REMUNERATION COMMITTEE Mr. LEE Luk Shiu(Chairman)Mr. HOU HaitaoMr. XIA Liqun NOMINATION COMMITTEE Jonathan Jun YAN Ms. CHU Lam Yiu(Chairlady)Mr. LEE Luk ShiuMr. Jonathan Jun YANMr. HOU HaitaoMs. LAM Ka Yan FCG, HKFCG COMPANY SECRETARY Mr. POON Chiu KwokFCG, HKFCG AUDITOR PricewaterhouseCoopersCertified Public AccountantsRegistered Public Interest Entity Auditor LEGAL ADVISOR Haiwen & Partners LLP Corporate Information PRINCIPAL BANKERS China CITIC Bank Corporation LimitedChina Minsheng Banking Corp., Ltd.Hang Seng Bank LimitedIndustrial Bank Co., Ltd. HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESSIN HONG KONG 18303008 Suite 300830th Floor, Central Plaza18 Harbour RoadWanchaiHong Kong REGISTERED OFFICE Clarendon House2 Church StreetHamilton HM 11Bermuda Clarendon House2 Church StreetHamilton HM 11Bermuda PRINCIPAL SHARE REGISTRAR MUFG Fund Services (Bermuda) Limited4th floor North Cedar House41 Cedar AvenueHamilton HM 12Bermuda MUFG Fund Services (Bermuda) Limited4th floor North Cedar House41 Cedar AvenueHamilton HM 12Bermuda BRANCH SHARE REGISTRAR 1617 Tricor Tengis Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong STOCK CODE 00336 The Stock Exchange of Hong Kong Limited: 00336 www.huabao.com.hk COMPANY WEBSITE www.huabao.com.hk Financial Highlights Company Profile and Corporate Culture CORPORATE PROFILE Huabao International Holdings Limited and its subsidiaries(the “Group”), consisting of flavours and fragrances segment,t o b a c c or a w m a t e r i a l s s e g m e n t ,a r o m a r a w m a t e r i a l ssegment, condiments segment, is mainly engaged in the R&D,production, distribution and sales of flavours and fragrances,t o b a c c o r a w m a t e r i a l s , a r o m a r a w m a t e r i a l s , a s w e l l a scondiments. The Group also makes diversified investmentsaround its core businesses. It is an industrial holdings groupbased on the taste-based consumer goods market. A The Group is a market leader in China’s flavours & fragrancesindustry. It owns many famous flavour brands, including“H u a b a o F l a v o u r s” o n t h e A-S h a r e s p l a t f o r m, “H e d o n”,“ H u a b a o ” , “ H & K ” , “ T i a n h o n g ” , “ H u a f a n g ” , “ O w a d a ” ,“Amber” and so on. The Group has internationalised productdevelopment and manufacturing capabilities, owns productionba s e s i n r e g i o n s s u c h a s S h a n g h a i, G u a n g d o n g, J i a n g s u,Yunnan, Jiangxi, Fujian, Hong Kong, Indonesia, and Botswanain Africa, etc., has a R&D centre in Holzminden, Germanyand Singapore, a state-level enterprise technology centre inShanghai, and R&D departments in Guangdong, Yunnan andFujian. Member(s) of the Group takes on leadership roles in anumber of industry associations which are relevant to flavoursand fragrances business, including the Vice Chairman of ChinaFood Additives & Ingredients Association, Deputy Directorof China Association of Fragrance & Flavour and CosmeticIndustries, Deputy Director of China Association of Bakery& Confectionery Industry, and Chairman of Shanghai FoodAdditive & Batching Association. Company Profile and Corporate Culture T h e G r o u p i s a l s o o n e o f t h e m a r k e t l e a d e r s i n C h i n a ’ stobacco raw materials field, and its production technologya n d p r o d u c t q u a l i t y h a v e t a k e n t h e l e a d i n g p o s i t i o n a tdomestic level and reached advanced international level.Guangdong Jinye, a subsidiary of the Group, is one of theRTL R&D bases authorised by the STMA. In November 2012,the second phase of RTL production line of Guangdong Jinyewas completed, put into production and accepted by theSTMA, which became the first landmark of paper-makingRTL production line certified by the STMA. Its productiontechnology has been recognized by the STMA to have reachedthe highest technology level in terms of domestic paper-making RTL production, while its m