中国宝力科技年报 2023/24

2023/24 ANNUAL REPORT CONTENTS Corporate Information2Management Discussion and Analysis4Biographical Details of Directors and SeniorManagement18Report of the Directors24Corporate Governance Report40Independent Auditor’s Report66Consolidated Statement of Profit or Loss69Consolidated Statement of Profit or Loss andOther Comprehensive Income70Consolidated Statement of Financial Position71Consolidated Statement of Changes in Equity73 Consolidated Statement of Cash Flows77 Notes to the Consolidated Financial Statements78 Five-Year Financial Summary225 Glossary226 Corporate Information公 司 資 料 BOARD OF DIRECTORS Executive Directors: Mr. Wang Bin(Chairman)Mr. Zhang Yi(Vice Chairman)Ms. Chu Wei Ning(Chief Executive Officer)Ms. Lam Sze Man Independent Non-executive Directors: Mr. Chan Fong Kong, FrancisMr. Chan Kee Huen, MichaelMr. Feng Man AUDIT COMMITTEE Mr. Chan Kee Huen, Michael(Chairman)Mr. Chan Fong Kong, FrancisMr. Feng Man REMUNERATION COMMITTEE Mr. Chan Fong Kong, Francis(Chairman)Mr. Chan Kee Huen, Michael NOMINATION COMMITTEEMr. Chan Kee Huen, Michael(Chairman)Mr. Chan Fong Kong, Francis COMPANY SECRETARY Ms. Huen Lai Chun (Resigned on 1 March 2024)Ms. Lam Sze Man (Appointed on 1 March 2024) AUTHORISED REPRESENTATIVES Ms. Chu Wei NingMs. Huen Lai Chun (Resigned on 1 March 2024)Ms. Lam Sze Man (Appointed on 1 March 2024) PRINCIPAL BANKERChina Citic Bank International Limited LEGAL ADVISERBermuda:Conyers Dill & Pearman Corporate Information (continued)公 司 資 料（ 續 ） AUDITOR 1842 Mazars CPA LimitedCertified Public Accountants, Hong KongRegistered Public Interest Entity Auditor, Hong Kong42nd Floor, Central Plaza,18 Harbour Road,Wanchai, Hong Kong REGISTERED OFFICE Clarendon House,2 Church Street,Hamilton HM11,Bermuda Clarendon House,2 Church Street,Hamilton HM11,Bermuda PRINCIPAL PLACE OF BUSINESS IN HONG KONG 248–256373706–3708 Suites 3706–3708, 37/F,Dah Sing Financial Centre,248–256 Queen’s Road East,Wanchai, Hong Kong BERMUDA PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE MUFG Fund Services (Bermuda) Limited4th Floor North, Cedar House,41 Cedar Avenue,Hamilton HM12,Bermuda MUFG Fund Services (Bermuda) Limited4th Floor North, Cedar House,41 Cedar Avenue,Hamilton HM12,Bermuda HONG KONG BRANCH SHARE REGISTRAR ANDTRANSFER OFFICE 1617 Tricor Secretaries Limited17/F, Far East Finance Centre,16 Harcourt Road,Hong Kong PLACING OF LISTING Main Board of the Stock Exchange STOCK CODE164 164 Management Discussion and Analysis管 理 層 討 論 及 分 析 BUSINESS REVIEW The global economy during the year under review was characterized byuncertainty, stemming from factors such as inflation in the United States,rising global interest rates, credit contraction in China and geopoliticaltensions. These challenges had a widespread impact on businessesworldwide, leading to cautious spending and investment activities. China’s continued credit contraction is adding pressure to the realeconomy. The combination of bank and non-bank financing, which areoften referred to as “total social financing,” contracted 11% in the firstquarter of 2024 over the same period of 2023 despite a generousprovision of central-bank liquidity to financial markets. According to thePeople’s Bank of China, the broad M2 measure of money supply grew ata reasonably rapid 8.3% over the twelve months ended in March 2024.Yet lending to businesses and households has continued to declineimplicating potential risk of stagnation. The shortening in liquiditytranslated to extension of account repayment schedule from some of ourcustomers despite their willingness to pay. Accordingly, the Group hasexercised caution in expanding conventional media placement businessto contain the risk and continue to diversify to different client base whileadopting multiple business models. 11%M28.3% Despite these challenges, the media industry presented opportunities. InHong Kong, advertising budgets remained conservative, while mainlandChina experienced moderate yet selective growth amidst tighterregulatory measures. To adapt to this dynamic environment, theCompany pursued expansion into new areas such as large-scale culturalevents e.g. music concerts and adopted focused sector approach in theautomotive industry where there presented policy preference andconsumer spending appetite. This strategic focus allowed us to connectwith audiences and customers in new ways. Management Discussion and Analysis (continued)管 理 層 討 論 及 分 析（ 續 ） BUSINESS REVIEW(continued) Throughout the year ended 31 March 2024, the Company continued toa d v a n c e o u r d r y g r i n d i n g a n d d r y b e n e f i c i a t i o n ( t h e “D G D B”)technologies. We deepened our collaborations with technology partnersand key players in the iron ore and steel industries, thereby acceleratingthe development of our DGDB business. This strategic focus has yieldedrevenue from DGDB-related activities, marking a pivotal milestone in ourjourney to establish a leading position in this secto