农夫山泉2024中期报告

(A joint stock company incorporated in the People’s Republic of China with limited liability) Stock Code : 9633 2024 CONTENT 2Corporate Information5Management Discussion and Analysis27Corporate Governance and Other Information40Independent Review Report42Interim Condensed Consolidated Statement of Profit or Loss43Interim Condensed Consolidated Statement of Comprehensive Income44Interim Condensed Consolidated Statement of Financial Position46Interim Condensed Consolidated Statement of Changes in Equity48Interim Condensed Consolidated Statement of Cash Flows50Notes to Interim Condensed Consolidated Financial Information CORPORATE INFORMATION SHARE LISTING The Stock Exchange of Hong Kong Limited(Stock Code: 9633) 9633 LISTING DATESeptember 8, 2020 20209 8 REGISTERED OFFICE AND HEAD OFFICE No.181 GeyazhuangXihu DistrictHangzhou, ZhejiangPRC 181 PRINCIPAL PLACE OF BUSINESS IN HONG KONG Room F, 6/F, CNT Tower338 Hennessy RoadWan ChaiHong Kong 3386F COMPANY’S WEBSITEwww.nongfuspring.com www.nongfuspring.com BOARD OF DIRECTORS 20245 21 EXECUTIVE DIRECTORS Mr. Zhong Shanshan(Chairman and General Manager)Ms. Wu LiminMr. Xiang XiansongMr. Rao Minghong(appointed on 21 May 2024)Ms. Han Linyou NON-EXECUTIVE DIRECTORS Zhong Shu Zi20245 21 Mr. Zhong Shu ZiMs. Xue Lian(resigned on 21 May 2024) Stanley Yi Chang INDEPENDENT NON-EXECUTIVE DIRECTORS Mr. Stanley Yi ChangMr. Yang, Lei BobMr. Lu Yuan SUPERVISOR COMMITTEE 20245 2120245 2120245 2120245 21 Ms. Yu Minyu(Chairman, appointed on 21 May 2024)Mr. Liu XiyueMr. Jiang Xiaodong(appointed on 21 May 2024)Ms. Liu Min(resigned on 21 May 2024)Mr. Rao Minghong(resigned on 21 May 2024) (JOINT) COMPANY SECRETARIES 20242 13 Ms. Han LinyouMs. Mak Po Man Cherie(retired on 13 February 2024) AUDIT COMMITTEE Mr. Stanley Yi Chang(Chairman)Mr. Yang, Lei BobMr. Lu Yuan Stanley Yi Chang REMUNERATION COMMITTEE Mr. Lu Yuan(Chairman)Mr. Zhong ShanshanMr. Yang, Lei Bob NOMINATION COMMITTEE Mr. Zhong Shanshan(Chairman)Mr. Lu YuanMr. Stanley Yi Chang Stanley Yi Chang AUTHORISED REPRESENTATIVES Ms. Han LinyouMs. Wu Limin PRINCIPAL BANKERS Industrial and Commercial Bank of China Hangzhou Yangbatou BranchAgricultural Bank of China Hangzhou BranchBank of China Zhejiang BranchChina Construction Bank Zhijiang BranchChina Everbright Bank Hangzhou Branch HONG KONG LEGAL ADVISOR 183401 Eric Chow & Co. in Association with Commerce & Finance Law Offices3401 Alexandra House18 Chater RoadCentralHong Kong PRC LEGAL ADVISOR Jingtian & Gongcheng34th Floor, Tower 3, China Central Place77 Jianguo RoadChaoyang DistrictBeijingPRC 77334 OVERSEAS AUDITOR 97927 Ernst & YoungCertified Public AccountantsRegistered Public Interest Entity Auditor27/F, One Taikoo Place979 King’s Road, Quarry BayHong Kong DOMESTIC AUDITOR 1366B Pan-China Certified Public Accountants LLPTower B, China Resources Building, 1366 Qianjiang RoadShangcheng DistrictHangzhou, ZhejiangPRC H SHARE REGISTRAR H 183171712-1716 Computershare Hong Kong Investor Services LimitedShops 1712-1716, 17th Floor Hopewell Centre183 Queen’s Road EastWan ChaiHong Kong MANAGEMENT DISCUSSION AND ANALYSIS 20246 302410 The Board is pleased to present the unaudited interim condensedconsolidated financial information of the Group for the six monthsended June 30, 2024. The interim condensed consolidatedfinancial information is unaudited, but has been reviewed by theaudit committee of the Board (the “Audit Committee”) and Ernst &Young, the independent auditor of the Company, in accordance withHong Kong Standard on Review Engagements 2410 “Review ofInterim Financial Information Performed by the Independent Auditorof the Entity” issued by the Hong Kong Institute of Certified PublicAccountants. ECONOMIC ENVIRONMENT In the first half of 2024, faced with an increasingly complex, severeand uncertain external environment, China’s economy has beengenerally stable and progressing steadily. According to the NationalBureau of Statistics, the GDP for the first half of 2024 reachedRMB61.7 trillion, representing a year-on-year increase of 5.0%.China’s consumer market showed a recovery and positive trend inthe first half of the year, with total retail sales of consumer goodsreached RMB23.6 trillion, representing a year-on-year increase of3.7%, indicating the domestic demand is gradually releasing itspotential as an important driver for economic growth. 20242024(GDP)61.75.0%23.63.7% The market potential of China’s soft beverage industry remainsenormous, and the competition among brands is increasinglyintense. As consumers’ demand for healthier beverages becomesmore and more obvious, the market is also developing towards adirection that is more natural, healthier, and encourages innovation.Sugar-free tea, as a representative, has maintained rapid growth inrecent years. In the first half of 2024, the State Administration for Market Regulationhas been soliciting opinions from society for its “Regulations on theSupervision and Man