环龙控股2024 中期报告

VANOV HOLDINGS COMPANY LIMITED (Incorporated in the Cayman Islands with limited liability) Stock Code: 2260 2024INTERIM REPORT CONTENTS CORPORATE INFORMATION2MANAGEMENT DISCUSSION AND ANALYSIS5OTHER INFORMATION14CONDENSED CONSOLIDATED STATEMENT OFPROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME20CONDENSED CONSOLIDATED STATEMENT OFFINANCIAL POSITION22CONDENSED CONSOLIDATED STATEMENT OFCHANGES IN EQUITY24CONDENSED CONSOLIDATED STATEMENT OFCASH FLOWS25NOTES TO THE CONDENSED CONSOLIDATEDFINANCIAL STATEMENTS27 CORPORATE INFORMATION BOARD OF DIRECTORS Executive Directors Ms. Shen Genlian (Chairperson)Mr. Zhou Jun (Chief executive officer)Mr. Xie ZongguoMs. Yuan Aomei Independent Non-Executive Directors Mr. Ip Wang HoiMr. Zhang ShenjinMr. Wang Yunchen BOARD COMMITTEES Audit Committee Mr. Wang Yunchen (Chairman)Mr. Zhang ShenjinMr. Ip Wang Hoi Remuneration Committee Mr. Ip Wang Hoi (Chairman)Mr. Zhou JunMr. Zhang Shenjin Nomination Committee Ms. Shen Genlian (Chairman)Mr. Ip Wang HoiMr. Wang Yunchen AUTHORISED REPRESENTATIVES 202459202459 Ms. Mak Po Man Cherie (resigned on 9 May 2024)Ms. Shen GenlianMr. Yim Lok Kuan (appointed on 9 May 2024) COMPANY SECRETARY 202459202459 Ms. Mak Po Man Cherie (resigned on 9 May 2024)Mr. Yim Lok Kuan (appointed on 9 May 2024) CORPORATE INFORMATION REGISTERED OFFICE Cricket SquareHutchins DrivePO Box 2681Grand Cayman, KY1-1111Cayman Islands Cricket SquareHutchins DrivePO Box 2681Grand Cayman, KY1-1111Cayman Islands HEADQUARTER 519 No. 519, Section 2, Xinhua AvenueChengdu Strait Science and TechnologyIndustry Development ParkWenjiang District, ChengduSichuan Province, PRC PRINCIPAL PLACE OF BUSINESSIN HONG KONG 24840 40th Floor, Dah Sing Financial Centre248 Queen’s Road East, WanchaiHong Kong PRINCIPAL BANKS Industrial Bank Co., Ltd.Hong Kong BranchIndustrial Bank Co., Ltd.Chengdu BranchIndustrial Bank Co., LtdShanghai Branch Waigaoqiao Sub-BranchChengdu Rural Commercial Bank Co., Ltd.Wenjiang Yongsheng BranchHua Xia Bank Co., Ltd. Chengdu Branch AUDITOR Grant Thornton Hong Kong LimitedCertified Public AccountantsRegistered Public Interest Entity Auditor LEGAL ADVISER AS TO HONG KONG LAWS Loong & Yeung CORPORATE INFORMATION PRINCIPAL SHARE REGISTR ARAND TR ANSFER OFFICE Conyers Trust Company (Cayman) LimitedCricket SquareHutchins DrivePO Box 2681Grand CaymanKY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket SquareHutchins DrivePO Box 2681Grand CaymanKY1-1111Cayman Islands HONG KONG BR ANCH SHARE REGISTR ARAND TR ANSFER OFFICE 183171712–1716 Computershare Hong Kong Investor Services LimitedShops 1712–1716, 17th Floor, Hopewell Centre183 Queen’s Road EastWanchaiHong Kong STOCK CODE 2260 2260 WEBSITE www.vanov.cnwww.vanov.cn MANAGEMENT DISCUSSION AND ANALYSIS BUSINESS REVIEW 2024202416(GDP)61.75.0%2024167,661.311.8%380.411.9% In the first half of 2024, while facing a more sophisticated andsevere external environment with uncertainties, the economy ofChina continued its path towards recovery with a good momentumat a stable pace with steady progress, and has become a keydrive and a stabilising force to the economic growth worldwide.According to the data from the National Bureau of Statistics ofChina,China’s GDP reached approximately RMB61.7 trillionfrom January to June 2024, representing a year-on-year growthof5.0%.During the first half of the year,with demands inthepapermaking industry continued to resume and externaldemands also improved, the paper-based product industry wasable to maintain a sound and positive development, leading to atransformation towards a green, efficient and intelligent direction.From January to June 2024, the production volume of machinepaperand paperboard was approximately 76.613 million tons,representing a year-on-year increase of 11.8%. The cumulativeexport trade of papermaking and paper-based product industrywas approximately RMB38.04 billion, representing a year-on-yearincrease of 11.9%. 20242024 Under the backdrop of a good economic trend and industrydevelopment, the Group has always been abiding by its principleof “technological innovation and branding for good” and adheringto Vanov’s philosophy of “being indomitable to build an excellentteam; keep improving in making market leading products; focusingonprofessionalism to build an outstanding brand;attainingsustainabledevelopment to lay centuries foundation”.With acustomer-oriented service culture, an engineering culture centredon innovation and continuous improvement and a manufacturingculture centred on lean production, the Group has been able tore gardtec hno l o gic al innovat i on as t he c o re dr ive fo r it ssustainable development and work intensively in the papermakingfeltssegments to assist the papermaking machines to operateefficiently and steadily, in order to jointly create a low-carbon andsustainablefuture for the papermaking industry.In 2024,theGroup received additional awards, among which, Sichuan VanovTechnology Fabri