华宝国际2024 中期报告

67Condensed Consolidated Statement ofComprehensive Income68Condensed Consolidated Statement of Changesin Equity69Condensed Consolidated Cash Flow Statement71Notes to the Condensed Consolidated InterimFinancial Information114Glossary 2Corporate Information4Financial Highlights5Management Discussion and Analysis31Other Information64Condensed Consolidated Statement ofFinancial Position66Condensed Consolidated Income Statement Corporate Information BOARD OF DIRECTORS Executive Directors Ms. CHU Lam Yiu(Chairlady & CEO)Mr. LAM Ka Yu(Co-Chairman & Vice President)Mr. XIA Liqun(Vice Chairman & President)Mr. POON Chiu Kwok(Vice President & Company Secretary)Ms. LAM Ka YanMs. CHOY Man Har Independent Non-executive Directors Jonathan Jun YAN Mr. LEE Luk ShiuMr. Jonathan Jun YANMr. HOU Haitao AUDIT COMMITTEE Jonathan Jun YAN Mr. LEE Luk Shiu(Chairman)Mr. Jonathan Jun YANMr. HOU Haitao REMUNERATION COMMITTEE Mr. LEE Luk Shiu(Chairman)Mr. HOU HaitaoMr. XIA Liqun NOMINATION COMMITTEE Jonathan Jun YAN Ms. CHU Lam Yiu(Chairlady)Mr. LEE Luk ShiuMr. Jonathan Jun YANMr. HOU HaitaoMs. LAM Ka Yan FCG, HKFCG COMPANY SECRETARY Mr. POON Chiu KwokFCG, HKFCG AUDITOR PricewaterhouseCoopersCertified Public AccountantsRegistered Public Interest Entity Auditor LEGAL ADVISOR Haiwen & Partners LLP Corporate Information PRINCIPAL BANKERS China CITIC Bank Corporation LimitedChina Minsheng Banking Corp., Ltd.Hang Seng Bank LimitedIndustrial Bank Co., Ltd. HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESSIN HONG KONG 18303008 Suite 300830th Floor, Central Plaza18 Harbour RoadWanchaiHong Kong REGISTERED OFFICE Clarendon House2 Church StreetHamilton HM 11Bermuda Clarendon House2 Church StreetHamilton HM 11Bermuda PRINCIPAL SHARE REGISTRAR 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 BRANCH SHARE REGISTRAR 1617 Tricor Tengis Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong STOCK CODE 00336 The Stock Exchange of Hong Kong Limited: 00336 www.huabao.com.hk COMPANY WEBSITE www.huabao.com.hk Management Discussion and Analysis OVERVIEW 20245% C o n f r o n t e d w i t h c o n s i s t e n t w e a k m o m e n t u m f o r g l o b a leconomic growth as well as frequent geopolitical conflictsa n d t r a d e d i s p u t e s d u r i n g t h e f i r s t h a l f o f 2 0 2 4 , m a j o rc o u n t r i e sa n d r e g i o n s u n d e r t o o k s i g n i f i c a n t d o w n t u r npressure in economic growth. Faced with a complicated andchanging external environment, the Chinese governmenth a so p t i m i z e d a s e r i e s o f m a c r o e c o n o m i c p o l i c i e s a n denterprises have improved their management and productionmodels, which has resulted in a 5% year-on-year increaseof gross domestic product and has driven a steady progressof growth. Nevertheless, adjustments to domestic economics t r u c t u r e h a v e r e s u l t e d i n l e s s c o n s u m e r s p e n d i n g a n dh e n c e a n i n a d e q u a t e e f f e c t i v e d e m a n d , a n d a l s o m a d ethe enterprises to take a more cautious and conservativemanner in production expansion and new investments. Ingeneral, considerable uncertainty remains when it comes tothe recovery of domestic and overseas economy and marketd e m a n d , a n d o p e r a t i n g p r e s s u r e o f e n t e r p r i s e s r e m a i n stremendous, for which costs reduction and risks control areadopted by enterprises as strategies against challenges. ESG During the Reporting Period, efforts have been made by them a n a g e m e n t o f t h e G r o u p u p o n t h r e e a s p e c t s i n c l u d i n gmarket, production and risk management to enable a stablebusiness development of the Group. In respect of market,in the case of an insufficient domestic demand, the Grouphas explored demands from overseas markets by exchangesand cooperations with clients from countries and regions inSoutheast Asia for market expansion and sales promotion.I n t e r m s o f p r o d u c t i o n, t h e G r o u p h a s i m p l e m e n t e d t h e“Lean Production” program in more plants to improve theresource use and production efficiency and reduce productionand operating costs. As for risk management, the Grouphas exercised a more prudential attitude towards additionalinvestments and acquisitions and formulated a comprehensiveESG strategy and work schedule, with an aim to mitigate theimpact of climate risks on the business and finance of theGroup and enhance business resilience against risks as well asstrengthen the sustainable development of the Group. Management Discussion and Analysis INDUSTRY OVERVIEW Overview of the tobacco industry 20242,728.381.3% According to the data from the National Bureau of Statistics,the cigarette production volume reached 27.2838 millioncases during the first half of 2024, representing an increaseof 1.