澳亚集团年报 2023

Annual Report年 度 報 告 2023 Contents 2Corporate Information7Chairman’s Statement10Locations of Production Units11Highlights16Management Discussion and Analysis45Report of Directors94Directors and Senior Management109Corporate Governance Report131Independent Auditor’s Report271Financial Summary273Definitions and Glossary Corporate Information BOARD OF DIRECTORS Executive Directors Edgar Dowse COLLINS Mr. TAN Yong Nang (Executive Chairman)Mr. Edgar Dowse COLLINS (Chief Executive Officer)Mr. YANG Ku (Chief Operating Officer) Non-Executive Directors Mr. HIRATA ToshiyukiMs. GAO Lina (redesignated from Executive Director on 7 June2023)Ms. Gabriella SANTOSA (appointed on 7 June 2023) 202367 G a b r i e l l aS A N T O S A202367 Independent Non-executive Directors Mr. SUN PatrickMr. LI ShengliMr. CHANG Pan, Peter COMPANY SECRETARIES LLB (Hons)(ACS, ACG) Singapore Ms. CHUA Sook Ping Christina (LLB (Hons))Ms. CHENG Sai Hong (ACS, ACG) Hong Kong HKFCG (PE), FCG Ms. HO Wing Nga (HKFCG (PE), FCG) AUTHORISED REPRESENTATIVES UNDER THELISTING RULES Edgar Dowse COLLINS Mr. Edgar Dowse COLLINSMs. CHUA Sook Ping Christina Corporate Information BOARD COMMITTEES Audit Committee Mr. SUN Patrick (Chairman)Mr. CHANG Pan, PeterMr. HIRATA Toshiyuki Remuneration Committee Mr. CHANG Pan, Peter (Chairman)Mr. SUN PatrickMs. Gabriella SANTOSA (appointed on 2 November 2023)Mr. TAN Yong Nang (ceased on 2 November 2023) Gabriella SANTOSA202311 22023112 Nomination Committee Mr. TAN Yong Nang (Chairman)Mr. SUN PatrickMr. LI Shengli ESG Committee ESG Edgar Dowse COLLINS Mr. Edgar Dowse COLLINS (Chairman)Mr. YANG KuMr. LI Shengli PRINCIPAL BANKS DBS Bank Ltd12 Marina Boulevard Level 45Marina Bay Financial Centre Tower 3Singapore 018982 12 Marina Boulevard Level 45Marina Bay Financial Centre Tower 3Singapore 018982 131818200120 DBS Bank (China) Limited, Shanghai Branch18th Floor, DBS Bank Tower,1318 Lu Jia Zui Ring RoadPudong New District,Shanghai 200120China PT Bank Mandiri (Persero) TBK ShanghaiBranchUnit 4101 Shanghai Tower,501 Yin Cheng Zhong RoadPudong New District,ShanghaiChina 5014101 Corporate Information 333603-04200120 Malayan Banking Berhad Shanghai BranchRoom 03-04, 6th Floor, BRICS Tower,No. 333 Lu Jia Zui Ring RoadPudong New District,Shanghai 200120China 1161286602200120 United Overseas Bank (China) Limited,Shanghai Pilot Free Trade Zone Sub-branchRoom 602, 6F, No. 116, 128 Yincheng RoadPilot Free Trade Zone, Shanghai 200120China 9 China Construction Bank Corporation Co., Ltd.,Dongying Nonggao District Sub-branchNo. 9 Guangbei Road, Agricultural High-tech ZoneDongying City, Shandong ProvinceChina 128 China Citic Bank Corporation Limited, Dongying BranchNo. 128, Fuqian StreetDongying City, Shandong ProvinceChina LEGAL ADVISER AS TO LAWS OF THE PRC 81115100025 Global Law Office15th Floor, Tower 1, China Central Place, No. 81, Jianguo RoadChaoyang District, Beijing 100025China Corporate Information AUDITOR 97927 Ernst & Young27/F, One Taikoo Place979 King’s Road, Quarry BayHong KongChina(Certified Public Accountants and RegisteredPublic Interest Entity Auditor) COMPLIANCE ADVISER 8240 Anglo Chinese Corporate Finance, Limited40/F Two Exchange Square8 Connaught Place, CentralHong KongChina HEADQUARTER AND REGISTERED OFFICE 400 Orchard Road#15-08, Orchard TowersSingapore 238875 400 Orchard Road#15-08, Orchard TowersSingapore 238875 PRINCIPAL PLACE OF BUSINESS IN CHINA 10 No. 10, Yongguan Road, Yongan Town, Kenli DistrictDongying City, Shandong ProvinceChina PRINCIPAL PLACE OF BUSINESS IN HONG KONG 18346 46th Floor, Hopewell Centre183 Queen’s Road EastWan ChaiHong KongChina Corporate Information PRINCIPAL SHARE REGISTRAR Boardroom Corporate & Advisory Services Pte. Ltd.1 Harbourfront AvenueKeppel Bay Tower #14-07Singapore 098632 Boardroom Corporate & Advisory Services Pte. Ltd.1 Harbourfront AvenueKeppel Bay Tower #14-07Singapore 098632 HONG KONG SHARE REGISTRAR 183171712-1716 Computershare Hong Kong Investor Services LimitedShops 1712-1716, 17th FloorHopewell Centre, 183 Queen’s Road EastWan ChaiHong KongChina 2425 STOCK CODE Stock Code: 2425 www.austasiadairy.com WEBSITEwww.austasiadairy.com Chairman’s Statement Dear Shareholders, 20231231 On behalf of the board of directors of AustAsia Group Limitedandits subsidiaries(“AustAsia”or“the Group”),I am honoredtopresent the annual results for the financial year ended 31December 2023 (“Reporting Year”) to the shareholders. Facedwith multiple difficulties of raw milk oversupply,pricedecline, cost increase, etc., China’s dairy farming industry is inthe most difficult situation in more than a decade. Under suchcircumstances,continued improvement in production efficiencyand quality are the keys to breaking through the predicament. InAustAsia, with the help of effective and innovative measures, webelieve we has been able to enhance our competitiveness andsustainable development capabilities and provide customers