中核国际二零二三年年报

Stock Code: 2302 2023ANNUAL REPORT 24917515459738081838486184 CONTENTS Corporate InformationChairman’s StatementManagement Discussion and AnalysisEnvironmental, Social andCorporate Governance ReportRisk ManagementProfiles of Directors and Senior ManagementDirectors’ ReportIndependent Auditor’s ReportConsolidated Statement of Profit or Loss andOther Comprehensive IncomeConsolidated Statement of Financial PositionConsolidated Statement of Changes in EquityConsolidated Statement of Cash FlowsNotes to the Consolidated Financial StatementsFinancial Summary24917515459738081838486184 CNNC INTERNATIONAL LIMITED (Incorporated in the Cayman Islands with limited liability) BOARD OF DIRECTORS Chairman and Non-Executive DirectorWang Cheng Chief Executive Officer and Executive DirectorZhang Yi Non-Executive DirectorsSun Ruo FanWu Ge Independent Non-Executive Directors Cui LiguoZhang LeiChan Yee Hoi AUDIT COMMITTEE Chan Yee Hoi(Chairman)Wu GeCui LiguoZhang Lei REMUNERATION COMMITTEE Cui Liguo(Chairman)Zhang YiWu GeZhang LeiChan Yee Hoi NOMINATION COMMITTEE Wang Cheng(Chairman)Zhang YiCui LiguoZhang LeiChan Yee Hoi COMPANY SECRETARYLi Philip Sau Yan REGISTERED OFFICE P.O. Box 309GTUgland HouseSouth Church StreetGrand CaymanCayman Islands P.O. Box 309GTUgland HouseSouth Church StreetGrand CaymanCayman Islands HEAD OFFICE AND PRINCIPAL PLACE OFBUSINESS 26292906(852) 2598 1010(852) 2598 6262info@cnncintl.com Unit 2906, 29th FloorNo. 26 Harbour RoadChina Resources BuildingWanchaiHong KongTel:(852) 2598 1010Fax:(852) 2598 6262Email: info@cnncintl.com LEGAL ADVISERS AS TO HONG KONG LAWS DeHeng Law Offices (Hong Kong) LLP AUDITORBDO Limited PRINCIPAL BANKERS Bank of Communications Co., Ltd. Hong Kong BranchBank of China (Hong Kong) LimitedIndustrial and Commercial Bank of China (Asia) Limited HONG KONG SHARE REGISTRAR ANDTRANSFER OFFICE (BRANCH REGISTRAR) 18346 Computershare Hong Kong Investor Services Limited46th FloorHopewell Centre, 183 Queen’s Road EastHong Kong CAYMAN ISLANDS SHARE REGISTRAR ANDTRANSFER OFFICE (REGISTRAR) Maples Fund Services (Cayman) LimitedP.O. Box 1093Boundary HallCricket SquareGrand Cayman, KY1-1102Cayman Islands Maples Fund Services (Cayman) LimitedP.O. Box 1093Boundary HallCricket SquareGrand Cayman, KY1-1102Cayman Islands www.cnncintl.com CORPORATE WEBSITEwww.cnncintl.com 2302 SHARE LISTING AND STOCK CODE The Stock Exchange of Hong Kong LimitedStock Code: 2302 Chairman’s Statement Wang ChengChairman Theyear of 2023 continued to be surrounded by externalchallenges. The global natural uranium market in 2023 had beenimpacted by multiple geopolitical events, including the continuousRussian-Ukraineconflict,worldwide inflation and recessionaryconcerns,along with a rising interest from investor in naturaluranium,and rising interest rates in the financial market.Theseexternal factors have contributed and leading up to the significantvolatilityin uranium spot prices since the second half of 2023,which in turn, has affected the market behaviour. Since early 2021,therewas a substantial surge in financial interest in the physicaluranium market. The influx of financial players into the market withtheirfinancial-related buying significantly increased demand foruranium in the spot market, leading to a notable increase in spotprices(which surpassed long-term prices since June 2023,aphenomenon not seen since 2007/2008). 1,160,000500,000660,0001,400,000 Nonetheless,the Company was able to plough through variouschallenges and complete sales of approximately 1.16 million poundsofnatural uranium(of which approximately 0.50 million poundswere sold under trades to and from independent third parties andapproximately 0.66 million pounds were sold to the Parent Groupthrough the Uranium Supply Transactions (has the meaning ascribedto it in the Company’s circular dated 31st May, 2022 (the “May2022Circular”),which constituted a continuing connectedtransactionfor the Company)).For the Year,the Group alsofacilitatedtrades of 1.40 million pounds of natural uranium forRössingthrough the Uranium Purchase Transactions(has themeaning ascribed to it in the May 2022 Circular, which constituteda continuing connected transaction for the Company). Leveragedon the Framework Agreement,the Group has sincetapped into the uranium supply market in the PRC by serving as theprocurement arm of the CNUC Group in the international uraniumtrading market. Meanwhile, the Group has continued its uraniumproducts trading business to and from independent third parties inthe normal and usual course of business. On behalf of the Board of Directors of CNNC International Limited(the“Company”)and its subsidiaries(collectively the“Group”),Ipresentthe annual results of the Group for the year ended31st December, 2023 (the “Year”). I am pleased to report that theGroup has continued to improve its profit position and reported anetprofit for the Year of approximately HK$106,315,000(2022Year:approximately HK$80,843,000)with