胜龙国际2023/24 年报

2023/24Annual Report Contents 2CONSOLIDATED STATEMENT OF PROFIT ORLOSS AND OTHER COMPREHENSIVE INCOME84 CORPORATE INFORMATION STATEMENT FROM THE BOARD OF DIRECTORS4 CONSOLIDATED STATEMENT OFFINANCIAL POSITION86 MANAGEMENT DISCUSSION AND ANALYSIS5 CONSOLIDATED STATEMENT OFCHANGES IN EQUITY88 DIRECTORS’ ANDSENIOR MANAGEMENT’S PROFILE14 DIRECTORS’ REPORT 19 29NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS91 CORPORATE GOVERNANCE REPORT ENVIRONMENT, SOCIAL ANDGOVERNANCE REPORT52 FIVE-YEAR FINANCIAL SUMMARY183 INDEPENDENT AUDITOR’S REPORT78 Corporate Information BOARD OF DIRECTORS EXECUTIVE DIRECTORS: LIU Shiwei(Chairman)WANG Baozhi(Chief Executive Officer)DING Lei(Chief Operating Officer) INDEPENDENT NON-EXECUTIVE DIRECTORS: DENG YougaoWONG Chi YanCHEUNG Ka Yue AUDIT COMMITTEE WONG Chi Yan(Chairman)DENG YougaoCHEUNG Ka Yue REMUNERATION COMMITTEE DENG Yougao(Chairman)DING LeiCHEUNG Ka Yue NOMINATION COMMITTEE DING Lei(Chairman)DENG YougaoCHEUNG Ka Yue COMPANY SECRETARY LAM Mei Wai Michelle AUDITOR CCTH CPA Limited(appointed on 27 April 2023)ZHONGHUI ANDA CPA Limited(resigned on 26 April 2023) Corporate Information PRINCIPAL BANKERS Shanghai Pudong Development Bank Co., LtdNanyang Commercial Bank Limited REGISTERED OFFICE Clarendon House2 Church StreetHamilton HM 11Bermuda Clarendon House2 Church StreetHamilton HM 11Bermuda PRINCIPAL OFFICE 19/F., Guangdong Finance Building,88 Connaught Road West,Hong Kong 8819 PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE 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 HONG KONG BRANCH SHARE REGISTRARAND TRANSFER OFFICE 1617 Tricor Secretaries Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong STOCK CODE 1182 1182 CONTACTS (852) 3548 2562(852) 3753 3226www.successdragonintl.comshareholder@successdragonintl.com Telephone: (852) 3548 2562Facsimile: (852) 3753 3226Website: www.successdragonintl.comEmail: shareholder@successdragonintl.com Statement from the Board of Directors Dear Shareholders, On behalf of the Board, I am glad to present to the shareholders theannual report of Success Dragon International Holdings Limited (the“Company”) and its subsidiaries (the “Group”) for the financial yearended 31 March 2024. Looking ahead, increasing recession risk and geo-political risk willserve as support points for gold price in 2024. The above factorshave stimulated the interest of investors and global central banksin purchasing gold, and we expect that the demand and price ofthe gold will likely to rise. The Group will closely monitor the markettrends in commodity prices and take necessary actions to control anypotential risks. The geo-political uncertainties caused by the prolongedChina-western trade and culture frictions as well as the on-goinginflation will continue to drive gold as a safe-haven asset throughout2024. In addition to the Group’s commitment to the development of its coregold processing business, the Board will keep elevating itself to be amajor player in high growth industries and markets. In particular, theGroup will leverage on its experience and know-how in the existingbusinesses to capture market opportunities. The Company wishesto exploit its strong business networks and grow in markets of thisstrategic fit to deliver strong and sustainable returns to the shareholdersof the Company. To conclude, under the global market uncertainties, the Group wouldremain vigilant and responsive in a timely manner and strive to achievestable performance. In addition, the Group will proactively exploreother investment opportunities to expand its income stream, therebymaximizing the value for the shareholders of the Company. On behalf of the Board, I would like to express our appreciation to myfellow directors and staff for their diligence and contributions to theGroup in the past year, to the shareholders and business partners fortheir understanding and support. With their continuous support andcontributions, we will strive to stimulate corporate growth and deliverhigh returns to the Company and shareholders. LIU ShiweiChairman Hong Kong, 28 June 2024 Management Discussion and Analysis FINANCIAL REVIEW Revenue The Group recorded revenue of approximately HK$422.7 million forthe financial year ended 31 March 2024 (“FY2024” or the “Year”)as compared with approximately HK$363.8 million in the financialyear ended 31 March 2023 (“FY2023”), representing an increase ofapproximately 16.2%. During the Year, the Group was principallyengaged in the business of gold processing and trading. The increasein the Group’s revenue was mainly attributable to the rise in gold pricewhich boost up the revenue from the gold-laden carbon and gold oreprocessing during the Year. 422.7363.816.2% Gold-laden Carbon Processing The Group has a production line in Yunnan province, the PRC, fo