珠江钢管二零二三年年度报告

A N N U A LR E P O R T2023 CONTENTS 2Corporate Profile4Corporate Information7Chairman’s Statement12Awards and Recognitions17Quality Certifications18Management Discussion and Analysis37Profile of Directors and Senior Management49Report of Directors63Corporate Governance Report87Environmental, Social and Governance Report106Independent Auditor’s Report117Consolidated Statement of Profit or Loss118Consolidated Statement of Comprehensive Income119Consolidated Statement of Financial Position121Consolidated Statement of Changes in Equity123Consolidated Statement of Cash Flows126Notes to Financial Statements259Five-Year Financial Summary CORPORATE PROFILE 1938 Chu Kong Petroleum and Natural Gas Steel Pipe Holdings Limited(the “Company”, together with its subsidiaries hereinafter referred toasthe“Group”)is the largest manufacturer and exporter oflongitudinalwelded steel pipes and is engaged in propertydevelopment and investment in the People’s Republic of China (the“PRC”). The Company has been listed on the Main Board of TheStockExchange of Hong Kong Limited(the“Stock Exchange”)(Stock Code: 1938) since February 2010. The Group’s steel pipesaremainly used for energy transmission including oil and gastransmission pipelines, deep sea pipelines, city gas networks, andpetrochemicals,mining,infrastructure construction,offshoreengineering, steel structures and water utilities industries. LSAWSSAW1,800,000 TheGroup’s production bases and offices are located in Panyu,Zhuhai, Lianyungang, Nanjing, Hong Kong, Yunfu and Indonesia,withfive production lines for longitudinal submerged arc-welded(“LSAW”),two production lines for spiral submerged arc-welded(“SSAW”)and other production lines with a combined annualproduction capacity of 1,800,000 tonnes as at 31 December 2023. 3,500 The Group is an industry pioneer, particularly strong in researchanddevelopment,holding 120 patents(including 41 inventionpatents) and 14 international quality certificates and having a longstanding international and nationwide track record. Furthermore, theGroup is the first and only steel pipe manufacturer in the PRC tomanufacture and successfully develop deep sea welded steel pipesforuse at a water depth of 3,500m and a qualified supplier ofPetrobrasand Petronas.The Group is a welded steel pipemanufacturer in the PRC that has received various honours andawards, including “Gold Cup Prize for Actual Quality of MetallurgicalProducts”,“Superior Quality Award for Actual Quality ofMetallurgicalProducts”,“National Key New Products”,“Province-recognisedEnterprise Technology Centre”and“High and NewTechnology Enterprise”, hosted a “Academician Workstation” and isthemain drafter of the national standard for longitudinal weldedsteel pipes in the PRC. CORPORATE INFORMATION DIRECTORS Executive DirectorsMr CHEN Chang(Chairman)Mr CHEN Guo Xiong(Vice Chairman)(resigned on 5 December 2023)Ms CHEN Zhao Nian Independent Non-executive Directors Mr CHEN PingMr AU YEUNG Kwong WahMr TIAN Xiao Ren (resigned on 1 September 2023)Mr ZHAN Jian Zhou (appointed on 1 September 2023) REGISTERED OFFICE Cricket Square, Hutchins Drive, P.O. Box 2681Grand Cayman, KY1-1111Cayman Islands Cricket Square, Hutchins Drive, P.O. Box 2681Grand Cayman, KY1-1111Cayman Islands COMPANY SECRETARY Ms WONG Pui ShanFCCA, CPA, ACG, HKACG, MSc (Fin) FCCA, CPA, ACG, HKACG, MSc (Fin) AUDIT COMMITTEE Mr AU YEUNG Kwong Wah(Chairman)Mr CHEN PingMr TIAN Xiao Ren (resigned on 1 September 2023)Mr ZHAN Jian Zhou (appointed on 1 September 2023) NOMINATION COMMITTEE Mr CHEN Ping(Chairman)Mr TIAN Xiao Ren (resigned on 1 September 2023)Mr ZHAN Jian Zhou (appointed on 1 September 2023)Mr CHEN Chang REMUNERATION COMMITTEE Mr TIAN Xiao Ren(Chairman)(resigned on 1 September 2023)Mr ZHAN Jian Zhou(Chairman)(appointed on 1 September 2023)Mr CHEN PingMr CHEN Chang AUTHORISED REPRESENTATIVES CORPORATE INFORMATION HEAD OFFICE AND PRINCIPAL PLACE OFBUSINESS IN THE PRC 3–5511450 2/F., 3–5 Golden Dragon CityYayun Avenue511450 Panyu DistrictGuangzhou CityGuangdong ProvinceThe PRC PRINCIPAL PLACE OF BUSINESS IN HONG KONG 9605–606 Unit 605–606,Tower III Enterprise SquareNo. 9 Sheung Yuet RoadKowloon Bay, KowloonHong Kong AUDITOR 512151510–1517 CCTH CPA LimitedCertified Public AccountantsUnit 1510–1517,15/F, Tower 2Kowloon Commerce CentreNo. 51 Kwai Cheong RoadKwai ChungNew Territories, Hong Kong 1938 STOCK CODE 1938 www.pck.com.cn COMPANY’S WEBSITEwww.pck.com.cn LEGAL ADVISERS AS TO HONG KONG LAWLoeb & Loeb LLP PRINCIPAL BANKERS Bank of China LimitedBank of CommunicationsBank of JiangsuChina Bohai BankChina Construction BankIndustrial and Commercial Bank of ChinaIndustrial Bank CORPORATE INFORMATION PRINCIPAL SHARE REGISTRAR AND TRANSFEROFFICE Suntera (Cayman) LimitedSuite 3204, Unit 2A, Block 3Building D, P.O. Box 1586Gardenia Court, Camana BayGrand Cayman, KY1-1100Cayman Islands Suntera (Cayman) LimitedSuite 3204, Unit 2A, Block 3Building D, P.O. Box 1586Gardenia Court, Camana BayGra