世纪金花二零二三年年报

Contents Corporate Information2Financial Highlights and Key Performance Index4Five Years Summary Financial Information6Chairman’s Statement7Management Discussion and Analysis10Biographies of Directors16Directors’ Report21Corporate Governance Report41Environmental, Social and Governance Report62Independent Auditor’s Report138Consolidated Statement of Profit or Loss149Consolidated Statement of Profit or Loss andOther Comprehensive Income150Consolidated Statement of Financial Position152Consolidated Statement of Changes in Equity154Consolidated Cash Flow Statement156Notes to the Financial Statements159 Corporate Information BOARD OF DIRECTORS Executive and Non-executive Directors Mr. Yao Jiangang(Chairman)Mr. Qin Chuan(Chief Executive Officer)Ms. Wan QingMr. Huang ZhihuaMr. Chen Shuai Independent Non-executive Directors Mr. Tsang Kwok WaiMr. Ruan XiaofengMs. Song Hong AUDIT COMMITTEE MEMBERS Mr. Tsang Kwok Wai(Chairman)Mr. Chen ShuaiMr. Ruan Xiaofeng NOMINATION COMMITTEE MEMBERS Mr. Yao Jiangang(Chairman)Mr. Chen ShuaiMr. Tsang Kwok WaiMr. Ruan XiaofengMs. Song Hong REMUNERATION COMMITTEE MEMBERS Mr. Ruan Xiaofeng(Chairman)Mr. Chen ShuaiMr. Tsang Kwok Wai COMPANY SECRETARY Mr. Leung Kee Wai(resigned with effect from 1 September 2023)Mr. Yu Leung Fai(appointed with effect from 3 September 2023and resigned with effect from 1 January 2024)Ms. Chan Yuen Ying Stella(appointed with effect from 1 January 2024) STOCK CODE 162 162 www.cgrh.com.hk COMPANY WEBSITE www.cgrh.com.hk Corporate Information HEAD OFFICE AND PRINCIPAL PLACE OFBUSINESS Unit 301, 3/F, OfficePlus@Wan Chai303 Hennessy Road, Wanchai, Hong Kong 3033301 REGISTERED OFFICE Clarendon House2 Church StreetHamilton HM 11Bermuda Clarendon House2 Church StreetHamilton HM 11Bermuda HONG KONG BRANCH SHARE REGISTRARAND TRANSFER OFFICE 1617 Tricor Abacus Limited17th Floor, Far East Finance Centre16 Harcourt RoadHong Kong BERMUDA PRINCIPAL SHARE REGISTRARAND TRANSFER AGENT MUFG Fund Services (Bermuda) Limited4th Floor NorthCedar House41 Cedar AvenueHamilton HM 12Bermuda MUFG Fund Services (Bermuda) Limited4th Floor NorthCedar House41 Cedar AvenueHamilton HM 12Bermuda PRINCIPAL BANKERS The Bank of East AsiaBank of ChinaChina Merchants BankPing An BankBank of ChengduChang’an Bank AUDITORS () Overseas AuditorMcMillan Woods (Hong Kong) LimitedRegistered Public Interest Entity Auditor Domestic AuditorWUYIGE Certified Public Accountants LLP LEGAL ADVISERS Bird & Bird (Hong Kong Law)Conyers Dill & Pearman (Bermuda Law) Conyers Dill & Pearman Financial Highlights and Key Performance Index (1)Gross revenue represents the gross amount arising from thesales of goods, concession sales charged to retail customers,grossrental income and management and administrativeservice fee income charged to tenants. Financial Highlights and Key Performance Index Notes: Five Years Summary Financial Information For the year ended 31 December 2023(Expressed in Renminbi ("RMB")) Chairman’s Statement CHAIRMAN’S STATEMENT Onbehalf of the board(the“Board”)of directors(the“Directors”) of Century Ginwa Retail Holdings Limited (the“Company”), I would like to present the audited results of theCompany and its subsidiaries (the “Group”) for the year ended31 December 2023. BUSINESS REVIEW 47.157.2%3.4% Looking back at the year past, the loosening of the epidemicsituation at the beginning of the year spurred rapid growthinthe consumer market.However,due to the changingconsumption habits during the epidemic period, and increasingrationality and “quality-to-cost” consciousness of consumers,the consumption intensity gradually declined after a shortperiod of rapid growth. In 2023, the total retail sales of socialconsumer goods reached RMB47.15 trillion, representing ayear-on-year growth of 7.2%, which reached a record high,and consumption became the main powerhouse of economicgrowth. However, the high quarter-on-quarter growth wasbased on a low base in 2022, with combined growth of only3.4% over the two years. The overall domestic consumermarket is still experiencing a weak recovery. Rational anddiversified consumer demand will become the new drivingforce behind the sustained growth of the consumer market. Atthe same time, with the support of various favorable policiespromulgated by the government, consumption will remain thekey driving force for the economic growth in 2024. In 2023, the Company still adhered to the mission of “creatingan ideal community for city life” and maintained the valuesof “customer first, dedicated service and good pursuance” atall times. The Company devoted itself into exploring the Xi’anand Xianyang markets. Meanwhile, the Company’s overallenhancement in trade and investment attraction, operation,service and management capabilities resulted in an obviousupward development momentum of the Company. Chairman’s Statement BUSINESS REVIEW(continued) In terms of store operation, SAIGO project has been restartedin early 2023 with its