中国秦发2024中期报告

CONTENTS目錄 CORPORATE INFORMATION BOARD OF DIRECTORS Executive Directors 徐達先生（主席）白韜先生（行政總裁）翟依峰先生鄧冰晶女士（自二零二四年四月十九日起獲委任） Mr. XU Da(Chairman)Mr. BAI Tao(Chief Executive Officer)Mr. ZHAI YifengMs. DENG Bingjing (appointed with effect from 19 April 2024) Independent Non-Executive Directors 沙振權教授靜大成先生何嘉耀先生 Prof. SHA ZhenquanMr. JING DachengMr. HO Ka Yiu Simon AUDIT COMMITTEE 何嘉耀先生（主席）沙振權教授靜大成先生 Mr. HO Ka Yiu Simon(Chairperson)Prof. SHA ZhenquanMr. JING Dacheng REMUNERATION COMMITTEE 沙振權教授（主席）白韜先生靜大成先生 Prof. SHA Zhenquan(Chairperson)Mr. BAI TaoMr. JING Dacheng NOMINATION COMMITTEE 沙振權教授（主席）白韜先生靜大成先生 Prof. SHA Zhenquan(Chairperson)Mr. BAI TaoMr. JING Dacheng ENVIRONMENTAL, SOCIAL AND GOVERNANCECOMMITTEE 徐達先生（主席）白韜先生翟依峰先生 Mr. XU Da(Chairman)Mr. BAI TaoMr. ZHAI Yifeng 柯俊瑋先生 COMPANY SECRETARYMr. OR Chun Wai Dennis AUTHORISED REPRESENTATIVES 白韜先生柯俊瑋先生 Mr. BAI TaoMr. OR Chun Wai Dennis REGISTERED OFFICE Cricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Cricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands PRINCIPAL PLACE OF BUSINESS OFTHE GROUP’S SUBSIDIARIES IN CHINA 中國廣州市海珠區琶洲大道東1號保利國際廣場南塔22樓2201至2208室 Unit Nos. 2201 to 2208Level 22, South Tower, Poly International PlazaNo.1 Pazhou Avenue East, Haizhu DistrictGuangzhou City, The PRC PRINCIPAL PLACE OF BUSINESSIN HONG KONG 香港灣仔港灣道18號中環廣場57樓5703室 Room 5703, 57th Floor, Central Plaza18 Harbour RoadWanchai, Hong Kong PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE SMP Partners (Cayman) LimitedRoyal Bank House, 3rd Floor24 Shedden RoadP.O. Box 1586Grand Cayman, KY1-1110Cayman Islands SMP Partners (Cayman) LimitedRoyal Bank House, 3rd Floor24 Shedden RoadP.O. Box 1586Grand Cayman, KY1-1110Cayman Islands HONG KONG BRANCH SHARE REGISTRAR ANDTRANSFER OFFICE 聯合證券登記有限公司香港北角英皇道338號華懋交易廣場2期33樓3301–04室 Union Registrars LimitedSuites 3301–04, 33/FTwo Chinachem Exchange Square338 King’s RoadNorth Point, Hong Kong CORPORATE INFORMATION AUDITOR 大華馬施雲會計師事務所有限公司執業會計師及註冊公眾利益實體核數師香港九龍尖沙咀廣東道30號新港中心第1座801–806室 Moore Stephens CPA LimitedCertified Public Accountants andRegistered Public Interest Entity Auditor801–806 Silvercord, Tower 130 Canton Road, TsimshatsuiKowloon, Hong Kong LEGAL ADVISOR 競天公誠律師事務所有限法律責任合夥香港中環皇后大道中15號置地廣場公爵大廈32樓3203–3207室 Jingtian & Gongcheng LLPSuites 3203–3207, 32/F, Edinburgh TowerThe Landmark, 15 Queen’s Road Central, Hong Kong PRINCIPAL FINANCIAL INSTITUTIONS 中國中信金融資產管理股份有限公司中國長城資產管理股份有限公司晉商銀行股份有限公司華夏銀行股份有限公司 China CITIC Financial Asset Management Co., LtdChina Great Wall Asset Management Co., LtdJinshang Bank Co., LtdHua Xia Bank Co., Ltd 00866 STOCK CODE00866 http://www.qinfagroup.com WEBSITE http://www.qinfagroup.com BUSINESS AT A GLANCE 中國秦發集團有限公司（「」）於二零零八年三月四日在開曼群島註冊成立為一間獲豁免有限責任公司。本公司為多間於香港、中國、新加坡及印尼成立的公司（統稱「」）的控股公司，該等公司主要從事煤炭經營業務，包括採煤、煤炭購銷、選煤、存儲及配煤。 China Qinfa Group Limited (the “Company”) was incorporated inthe Cayman Islands on 4 March 2008 as an exempted companywith limited liability. The Company is the holding company ofvarious companies in Hong Kong, China, Singapore and Indonesia(collectively, the “Group”) which are principally engaged in thecoal operation business involving coal mining, purchase and sales,filtering, storage and blending. 一體化煤炭供應鏈是本集團成功的關鍵。本集團於香港以及中國及印尼多個地方如朔州、忻州、大同、陽原、秦皇島、珠海、廣州、鄂爾多斯、青島及南加里曼丹省等均有經營業務。 An integrated coal supply chain is the key to the Group’s success.The Group has business operations located in Hong Kong andvarious places in China and Indonesia, namely, Shuozhou, Xinzhou,Datong, Yangyuan, Qinhuangdao, Zhuhai, Guangzhou, Ordos,Qingdao and South Kalimantan. The Group produces coal from Shanxi regions in China and SouthKalimantan in Indonesia, and arranges full logistics services andtransportation to deliver the coal to customers in the coastal regionsof China and Indonesia. 本集團於中國山西地區及印尼南加里曼丹生產煤炭，安排全面的物流服務及運輸，將煤炭運送至中國沿海地區及印尼的客戶。 MANAGEMENT DISCUSSION AND ANALYSIS 本集團是中國領先的非國有動力煤供應商，經營 一 體 化 煤 炭 供 應 鏈 ， 包 括 於 中 國 及 印 尼 採煤、煤炭購銷、選煤、存儲及配煤。截至二零二四年六月三十日止六個月，本集團繼續專注該 等 中 國 業 務 活 動 並 將 其 業 務 活 動 拓 展 至 印尼。下文載列有關本集團經營業績的主要組成部分的詳細分析： The Group is a leading non-state owned thermal coal supplier inChina, and it operates an integrated coal supply chain, includingcoal mining, purchase and sales, filtering, storage and blendingof coal in the PRC and Indonesia. During the six months ended30 June 2024, the Group continued to focus on these businessactivities in China and expanded its business activities to theIndonesia. The following sets forth detailed analysis of the principalcomponents of the operating results of the Group: Revenue from coal business and coal handling and trading volume 截至二零二四年六月三十日止六個月，本集團的煤炭經營及貿易量較二零二三年同期有所減少。截至二零二四年六月三十日止六個月煤炭售 價 介 乎 每 噸 人 民 幣367元 至 每 噸 人 民 幣708元，而二零二三年同期的煤炭售價則介乎每噸人民幣557元至每噸人民幣941元。平均煤炭售價下降，主要因為期內動力煤市價調整所致。 During the six months ended 30 June 2024, the volume of theGroup’s coal handling and trading decreased as compared to thecorresponding period in 2023. The coal selling prices during the