颐海国际2023年度报告

股份代號Stock Code: 1579(Incorporated in the Cayman Islands with limited liability)(於開曼群島註冊成立的有限公司) CONTENTS DefinitionsCorporate InformationFive-Year Performance ReviewChairman’s StatementManagement Discussion and AnalysisProfiles of Directors and Senior ManagementCorporate Governance ReportDirectors’ ReportEnvironmental, Social and GovernanceReportIndependent Auditor’s ReportConsolidated Balance SheetConsolidated Statement of Profit or Loss andOther Comprehensive IncomeConsolidated Statement of Changes in EquityConsolidated Statement of Cash FlowsNotes to the Consolidated Financial Statements 211141518384684(ESG)124210218220221222223 Definitions Definitions BOARD OF DIRECTORS Executive Directors Mr. Sean Shi(Chairman)Mr. Guo Qiang(Chief Executive Officer)Mr. Sun ShengfengMs. Shu PingMr. Zhao Xiaokai Non-executive Director Mr. Zhang Yong Independent Non-executive Directors Ms. Cui Jin(Note)Mr. Yau Ka Chi(Note)Mr. Qian MingxingMs. Ye Shujun AUDIT COMMITTEE Ms. Cui Jin(Chairman)(Note)Mr. Qian MingxingMs. Ye Shujun REMUNERATION COMMITTEE Ms. Ye Shujun(Chairman)Ms. Shu PingMr. Qian Mingxing NOMINATION COMMITTEE Mr. Sean Shi(Chairman)Mr. Qian MingxingMs. Ye Shujun Note: 20243262024326 With effect upon the publication of the announcement in respect of the changeof independent non-executive Director on 26 March 2024, Mr. Yau Ka Chiresigned from his positions as an independent non-executive Director andthe chairman of the Audit Committee and Ms. Cui Jin was appointed as anindependent non-executive Director and the chairman of the Audit Committee.Please refer to the announcement of the Company in respect of the change ofindependent non-executive Director dated 26 March 2024 for details. Corporate Information JOINT COMPANY SECRETARIES Ms. Yue DianhongMs. Chan Yin Wah AUTHORIZED REPRESENTATIVES Mr. Sun ShengfengMs. Chan Yin Wah AUDITOR PricewaterhouseCoopersCertified Public Accountants and Registered PIE Auditor HONG KONG LEGAL ADVISER 1526 Kirkland & Ellis26/F, Gloucester TowerThe Landmark15 Queen’s Road CentralHong Kong REGISTERED OFFICE P.O. Box 31119 Grand PavilionHibiscus Way802 West Bay RoadGrand CaymanKY1 – 1205 Cayman Islands P.O. Box 31119 Grand PavilionHibiscus Way802 West Bay RoadGrand CaymanKY1 – 1205 Cayman Islands CORPORATE HEADQUARTERS 25001810 Room 1810No. 2500 Zhenbei RoadPutuo DistrictShanghai, PRC PRINCIPAL SHARE REGISTRAR AND TRANSFER AGENT INTHE CAYMAN ISLANDS Suntera (Cayman) LimitedSuite 3204, Unit 2ABlock 3, Building DP.O. Box 1586Gardenia CourtCamana BayGrand Cayman, KY1 – 1100Cayman Islands Suntera (Cayman) LimitedSuite 3204, Unit 2ABlock 3, Building DP.O. Box 1586Gardenia CourtCamana BayGrand Cayman, KY1 – 1100Cayman Islands PRINCIPAL PLACE OF BUSINESS IN HONG KONG 24840 40th Floor, Dah Sing Financial CentreNo. 248 Queen’s Road EastWan Chai, Hong Kong HONG KONG SHARE REGISTRAR 1831717121716 Computershare Hong Kong Investor Services LimitedShops 1712-171617th Floor, Hopewell Centre183 Queen’s Road EastWanchai, Hong Kong tzzgx@yihchina.com INVESTOR RELATIONS Email: tzzgx@yihchina.com www.yihchina.com WEBSITE www.yihchina.com STOCK CODE 15791579 Five-Year Performance Review CONDENSED CONSOLIDATED STATEMENT OF PROFIT ORLOSS AND OTHER COMPREHENSIVE INCOME(RMB’000) 2023 In 2023, in the context of steady recovery of the overall consumptionand economy in China, the demands for consumption rebounded.However, the operating results of the Company did not reach ourexpectation. We have summarized mainly in the following aspects,pending further improvement. 2023 Firstly, we failed to establish a comprehensive product matrix in atimely manner, which affected the pace of new product launchesand in turn affected the implementation of product sales plans. Theperformance of self-serving product series, amongst others, wasparticularly obvious in such issue as the declining sales of such productcategory also directly affected the overall performance of the sales tothird parties of the Company. At the same time, the gap between (amongothers) beef tallow products in hot pot soup flavorings and leadingproducts in compound condiments and those of the top players in theexisting market could not be neglected. The upgrade and adjustmentof our products were finally completed in 2023, but the correspondingtiming for sales was missed. Moreover, we failed to adjust productsand marketing tactics targeting different types of consumer groups asthe marketing tactics of our products on online channels have beenrelatively conservative. Therefore, we were unable to fully utilize onlinechannels and missed plenty of opportunities. To solve the abovementioned issues, we will further optimize theincentive-based plan for our research and development and productinnovation team from the beginning of 2024 to ensure the stability andproactiveness of our product research and development team. In termsof the direction of research and development, not only do we persist inoffering mor