山高控股2023年报

ANNUAL REPORT2023ANNUAL REPORT CONTENTS 158Independent Auditor’s Report170Consolidated Statement ofComprehensive Income172Consolidated Statement ofFinancial Position175Consolidated Statement ofChanges in Equity178Consolidated Statement ofCash Flows182Notes to the ConsolidatedFinancial Statements463Five Years Financial Summary465Definitions 128Corporate Governance Report CORPORATE INFORMATION BOARD OF DIRECTORS Executive Directors Mr. Wang Xiaodong(Chairman)Mr. Zhu Jianbiao(Vice Chairman)Ms. Liao JianrongMr. Liu ZhijieMr. Liu Yao Non-executive Directors Mr. Liang ZhanhaiMr. Chen DiMr. Wang Wenbo Independent Non-executive Directors Jonathan Jun Yan Mr. Guan HuanfeiMr. Chan Wai HeiMr. Jonathan Jun YanMr. Fang Ying AUDIT COMMITTEE Jonathan Jun Yan Mr. Chan Wai Hei(Chairman)Mr. Chen DiMr. Wang WenboMr. Jonathan Jun YanMr. Fang Ying REMUNERATION COMMITTEE Mr. Guan Huanfei(Chairman)Mr. Liu ZhijieMr. Chan Wai HeiMr. Fang Ying CORPORATE INFORMATION (CONTINUED) NOMINATION COMMITTEE Jonathan Jun Yan Mr. Wang Xiaodong(Chairman)Mr. Chen DiMr. Chan Wai HeiMr. Jonathan Jun YanMr. Fang Ying EXECUTIVE COMMITTEE Mr. Wang Xiaodong(Chairman)Mr. Zhu JianbiaoMr. Sun QingweiMs. Liao JianrongMr. Liu ZhijieMr. Liu Yao STRATEGIC DEVELOPMENT COMMITTEE Jonathan Jun Yan Mr. Zhu Jianbiao(Chairman)Mr. Liu YaoMr. Chen DiMr. Jonathan Jun Yan JOINT COMPANY SECRETARIES Ms. Du NingMs. Chen Chun AUTHORISED REPRESENTATIVES Mr. Liu YaoMs. Chen Chun REGISTERED OFFICE Clarendon House2 Church StreetHamilton HM 11Bermuda Clarendon House2 Church StreetHamilton HM 11Bermuda CORPORATE INFORMATION (CONTINUED) HEAD OFFICE AND PRINCIPAL PLACE OFBUSINESS IN HONG KONG 9938 38/F, The Center99 Queen’s Road CentralCentralHong Kong AUDITORS 779 Crowe (HK) CPA Limited9/F, Leighton Centre, 77 Leighton RoadCauseway BayHong Kong LEGAL ADVISERS Hong Kong law: 22 Li & Partners22/F, World-Wide HouseCentralHong Kong Bermuda law: Conyers Dill & Pearman829 Conyers Dill & Pearman29/F, One Exchange Square8 Connaught PlaceCentralHong Kong PRINCIPAL BANKERS 130 Shanghai Pudong Development Bank Co., Ltd30/F, SPD Bank Tower1 Hennessy RoadHong Kong 5023B Ping An Bank Co., Ltd.Ping An Finance Center Tower BNo. 5023 Yitian RoadFutian District, Shenzhen, Guangdong, the PRC Shandong Hi-Speed Holdings Group LimitedANNUAL REPORT 2023 CORPORATE INFORMATION (CONTINUED) 8218 Hua Xia Bank Co., Limited18/F, Two International Finance Centre8 Finance StreetCentralHong Kong PRINCIPAL SHARE REGISTRAR IN BERMUDA 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 IN HONG KONG 183171712-1716 Computershare Hong Kong Investor Services LimitedShops 1712-1716, 17th Floor, Hopewell Centre183 Queen’s Road EastWanchaiHong Kong STOCK CODE 412 412 WEBSITE www.sdhg.com.hk www.sdhg.com.hk CHAIRMAN’S STATEMENT Dear shareholders, investors, customers and employees, In 2023, the global economic recovery process was at a slow paceand the market uncertainty increased with rising inflation, tradedisputes, regional conflicts, and other issues. SDHG unswervinglypushed the strategic transition towards an emerging industryinvestment holding group in the light of the established strategicdevelopment plan, while maintaining consistent strategic intentionand adaptive strategic flexibility in the face of increased marketvolatility. The development path with the integration of industry andfinance in virtuous cycle became clearer, and we achieved positiveprogress. 2023 1.LATEST DEVELOPMENT IN OUR STRATEGICTRANSFORMATION During the second half of 2021, we have reshaped our investmentlogic in the face of severe fluctuations in the international anddomestic capital markets. Based on an in-depth and objective analysisof own asset and liability structure and resource endowment, thenew strategic plan of the Company’s transition, which relied onindustrial resource advantages of SDHS Group, promoted thetransformation of the SDHG’s business from focusing on financialdebt investment in short duration to focusing on investment specifiedin emerging industries was defined, and we will achieve the self-development in virtuous cycle through steadily increasing theproportion of industrial investment by expanding and consolidatingthe net assets. 2021 In 2022, the Company took a solid step forward in our strategictransformation through the subscription of new shares and acquirecontrol of SHNE, a company listed in Hong Kong.Since thecompletion of the merger and acquisition, the Company has carriedout multi-dimensional and vigorous investment managementempowerment for SHNE in various aspects, including capital,resources, brand and mechanism, and has since achieved remarkableresults, promoting SHNE’s performance in all respects and giving fullplay for it to take advantage of the trend. In 2023, a nu