兴发铝业2023年报

CONTENTS目 錄 2Corporate Information公司資料6Chairman’s Statement主席報告10Management Discussion and Analysis管理層討論及分析23Directors and Senior Management董事及高級管理人員37Report of the Directors董事會報告76Corporate Governance Report企業管治報告95Environmental, Social and GovernanceReport環境、社會及管治報告185Independent Auditor’s Report on theConsolidated Financial Statements綜合財務報表之獨立核數師報告194Consolidated Statement of Profit or Loss綜合損益表195Consolidated Statement of Profit or Lossand Other Comprehensive Income綜合損益及其他全面收益表196Consolidated Statement of FinancialPosition綜合財務狀況表198Consolidated Statement of Changes inEquity綜合權益變動表199Consolidated Cash Flow Statement綜合現金流量表201Notes to the Consolidated FinancialStatements綜合財務報表附註319Five Years Summary五年概要 Corporate Information公司資料 DIRECTORS AND BOARD COMMITTEES Directors Executive Directors WANG Li(Chairman)LIAO Yuqing(Chief Executive Officer)WANG LeiLAW Yung KoonWANG ZhihuaLUO Jianfeng Non-executive Directors ZUO ManlunXIE Jingyun Independent Non-executive Directors CHEN MoHO Kwan YiuLAM Ying Hung, AndyWEN Xianjun Board Committees Audit Committee LAM Ying Hung, Andy(Chairman)CHEN MoHO Kwan YiuXIE Jingyun Remuneration Committee HO Kwan Yiu(Chairman)CHEN MoLAM Ying Hung, AndyWANG LiLIAO Yuqing Corporate Information公司資料 Nomination Committee WANG Li(Chairman)CHEN MoHO Kwan YiuLAM Ying Hung, AndyZUO Manlun Company Secretary PANG Wai Ho AUTHORIZED REPRESENTATIVES WANG LiLIAO YuqingWANG Zhihua (alternate to LIAO Yuqing) REGISTERED OFFICE Cricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1–1111Cayman Islands Cricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1–1111Cayman Islands HEAD OFFICE AND PRINCIPAL PLACE OFBUSINESS IN THE PRC D5 No. 5, Zone D, Central Science and Technology Industrial ParkSanshui DistrictFoshan CityGuangdong Provincethe PRC Corporate Information公司資料 PRINCIPAL PLACE OF BUSINESSIN HONG KONG Unit 605, 6/FWing On Plaza62 Mody RoadTsim Sha Tsui EastKowloonHong Kong 626605 PRINCIPAL BANKERS Bank of ChinaAgriculture Bank of ChinaChina Construction Bank Corporation LEGAL ADVISER As to Hong Kong law: LCH Lawyers LLP Conyers Dill & Pearman As to Cayman Islands law:Conyers Dill & Pearman AUDITORS KPMGPublic Interest Entity Auditor registered in accordancewith the Accounting and Financial Reporting Council Ordinance8th Floor, Prince’s Building10 Chater RoadCentralHong Kong 108 SHARE REGISTRARS Principal Share Registrar and Transfer Office inthe Cayman Islands Suntera (Cayman) LimitedSuite 3204Unit 2ABlock 3Building DP.O. Box 1586Gardenia CourtCamana BayGrand Cayman, KY1–1100Cayman Islands Suntera (Cayman) LimitedSuite 3204, Unit 2ABlock 3, Building DP.O. Box 1586, Gardenia CourtCamana BayGrand Cayman, KY1–1100Cayman Islands Branch Share Registrar and Transfer Office inHong Kong 183171712–1716 Computershare Hong Kong Investor Services LimitedShops 1712–171617/F, Hopewell Centre183 Queen’s Road EastWanchaiHong Kong www.xingfa.com WEBSITE www.xingfa.com STOCK CODE 00098.HK 00098.HK Chairman’s Statement主席報告 I am pleased to present the 2023 annual results of Xingfa AluminiumHoldings Limited (the “Company”, together with its subsidiaries, the“Group”, “the Company”, or “Xingfa Aluminium”). In the past year, the real estate industry in the PRC was rapidlyevolving, bringing great uncertainty to upstream enterprises. As aleading supplier of aluminium profiles in terms of market share, theGroup encountered certain challenges in winning new orders,maintaining profit margins and collecting receivables. In addition, asthe global situation continued to change with surging trade frictions,the export of raw materials and products in China faced greaterpressure. As a result, the Group had to adopt a more prudentattitude when developing overseas business, thus slowing down thepace of business expansion. As the saying goes, chances come from challenges. Although theindustry was full of challenges, the adjustment of the real estateindustry has greatly strengthened the Group’s sense of hardship andformed a driving force for change. We actively explored new businessdirections, strengthened cooperation with real estate enterprises withcontrollable debt levels, and strived for more public constructionprojects to keep the business resilient in the volatile market. Coupledwith the investment in the field of industrial aluminium profiles in thepast few years, we have received orders from other industries,including photovoltaic and electric vehicles industries, encouraging usin the difficulties. Chairman’s Statement主席報告 As a leading supplier of aluminium profiles in China, the Group, withits high-quality reputation and services, participated in theconstruction of landmark projects. It provided high-quality productsfor Xiamen New Airport, Hefei iFlytek Global Headquarters,Hangzhou New World Guili Centre, Xi’an International CulturalCommunication Centre and Shenzhen Tencent Global Headquarters.We demonstrated our commitment to craftmanship and quality inevery coo