理文造纸2024年报

2024ANNUAL REPORT CONTENT目錄 ABOUT LEE & MAN PAPER關於理文造紙 PRODUCTS產品 Kraft Linerboard牛咭紙Test Linerboard掛面牛咭紙Coated Duplex Board塗布白板紙High StrengthCorrugating Medium高強瓦楞芯紙Pulp木漿Tissue Paper衛生紙Pulp Board漿板 AREA地區 1Dongguan (Huangyong)東莞（潢涌）2Jiangsu (Changshu)江蘇（常熟）3Guangdong (Hongmei)廣東（洪梅）4Chongqing (Yongchuan)重慶（永川）5Jiangxi (Jiujiang)江西（九江）6Vietnam (Hau Giang)越南（后江）7Malaysia (Selangor)馬來西亞（雪蘭莪）8Guangxi (Chongzuo)廣西（崇左） 1 Dongguan Lee & Man東莞理文 2 Jiangsu Lee & Man江蘇理文 Annual1.12 million tons of paperproductioncapacity:年產能：112萬噸紙 Annual590,000 tons of paperproductioncapacity:年產能：59萬噸紙 3 Guangdong Lee & Man廣東理文 4 Chongqing Lee & Man重慶理文Annual900,000 tons of paper,production450,000 tons of pulp andcapacity:550,000 tons of tissuepaper年產能：90萬噸紙、45萬噸木漿及55萬噸衛生紙 Annual2.30 million tons of paper andproduction110,000 tons of tissue papercapacity:年產能：230萬噸紙及11萬噸衛生紙 5 Jiangxi Lee & Man江西理文 6 Vietnam Lee & Man越南理文 Annual720,000 tons of paper,production200,000 tons of pulp andcapacity:240,000 tons of tissue paper年產能：72萬噸紙、20萬噸木漿及24萬噸衛生紙 Annual550,000 tons of paper/productionproductscapacity:年產能：55萬噸紙╱產品 8 Guangxi Chongzuo Lee & Man廣西崇左理文 7 Malaysia Lee & Man馬來西亞理文 Annual1.40 million tons of paperproductioncapacity:年產能：140萬噸紙 Annual300,000 tons of pulp andproduction200,000 tons of tissue papercapacity:年產能：30萬噸木漿及20萬噸衛生紙Planned100,000 tons of tissue papercapacity:計劃產能：10萬噸衛生紙 董事會 BOARD OF DIRECTORS 執行董事 Executive directors 李文俊博士銀紫荊星章太平紳士（主席）李文斌先生榮譽勳章太平紳士（首席執行官）葉向勤先生李浩中先生李經緯先生 Dr. Lee Man Chun RaymondSBS JP(Chairman)Mr. Lee Man BunMH JP(Chief Executive Officer)Mr. Yip Heong KanMr. Lee Jude Ho ChungMr. Li King Wai Ross 獨立非執行董事 Independent non-executive directors 周承炎先生羅詠詩女士銅紫荊星章太平紳士陳惠仁先生 Mr. Chau Shing Yim DavidMs. Lo Wing SzeBBS JPMr. Chan Wai Yan Ronald 審核委員會 AUDIT COMMITTEE 周承炎先生（主席）羅詠詩女士銅紫荊星章太平紳士陳惠仁先生 Mr. Chau Shing Yim David(Chairman)Ms. Lo Wing SzeBBS JPMr. Chan Wai Yan Ronald 薪酬委員會 REMUNERATION COMMITTEE 周承炎先生（主席）羅詠詩女士銅紫荊星章太平紳士陳惠仁先生 Mr. Chau Shing Yim David(Chairman)Ms. Lo Wing SzeBBS JPMr. Chan Wai Yan Ronald NOMINATION COMMITTEE 提名委員會 李文俊博士銀紫荊星章太平紳士（主席）周承炎先生羅詠詩女士銅紫荊星章太平紳士陳惠仁先生 Dr. Lee Man Chun RaymondSBS JP(Chairman)Mr. Chau Shing Yim DavidMs. Lo Wing SzeBBS JPMr. Chan Wai Yan Ronald AUTHORISED REPRESENTATIVES 授權代表 李文俊博士銀紫荊星章太平紳士羅潔茹女士 Dr. Lee Man Chun RaymondSBS JPMs. Law Kit Yu 公司秘書 COMPANY SECRETARY 羅潔茹女士 Ms. Law Kit Yu 註冊辦事處 REGISTERED OFFICE Cricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Cricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands 總辦事處 PRINCIPAL OFFICE 香港北角電氣道169號理文商業中心39樓 39/F, Lee & Man Commercial Center169 Electric RoadNorth PointHong Kong 主要往來銀行 PRINCIPAL BANKERS 香港及澳門： In Hong Kong and Macau: 恒生銀行渣打銀行滙豐銀行中國銀行（香港） Hang Seng BankStandard Chartered BankHSBCBank of China (Hong Kong) In the PRC: 中國： 中國建設銀行中國銀行 China Construction BankBank of China 核數師 AUDITOR 德勤•關黃陳方會計師行執業會計師註冊公眾利益實體核數師 Deloitte Touche TohmatsuCertified Public AccountantsRegistered Public Interest Entity Auditor 主要股份過戶登記處 PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE Suntera (Cayman) LimitedSuite 3204, Unit 2A, Block 3, Building D,P.O. Box 1586, Gardenia Court, Camana Bay,Grand Cayman, KY1-1100,Cayman Islands Suntera (Cayman) LimitedSuite 3204, Unit 2A, Block 3, Building D,P.O. Box 1586, Gardenia Court, Camana Bay,Grand Cayman, KY1-1100,Cayman Islands 香港股份過戶登記分處 HONG KONG BRANCH SHARE REGISTRARAND TRANSFER OFFICE 卓佳證券登記有限公司香港夏愨道16號遠東金融中心17樓 Tricor Investor Services Limited17th Floor, Far East Finance Centre16 Harcourt RoadHong Kong 網址 WEBSITE http://www.leemanpaper.com http://www.leemanpaper.com FINANCIAL HIGHLIGHTS財 務 摘 要 FINANCIAL SUMMARY財 務 概 要 CHAIRMAN’S STATEMENT主 席 報 告CHAIRMAN’S STATEMENT主 席 報 告 業務回顧及展望 BUSINESS REVIEW AND OUTLOOK 2024年 ， 宏 觀 經 濟 繼 續 面 臨 下 行 壓 力 ，消費需求疲弱。中國造紙行業在消化過剩產能、木漿價格持續震盪中展現韌性，得益於政府一系列降準減息、提振消費等刺激政策，下游需求逐步回暖，造紙企業整體於年內有所修復。 In 2024, the macro-economy continued to face downward pressurewith consumer demand remaining weak. The paper manufacturingindustry in China, however, while absorbing excessive capacity andpulp price fluctuations, demonstrated resilience. Benefitting from aseries of government stimulation policies such as cutting reserverequirement ratio, lowering interest rate, and boosting consumption,downstream demand gradually warmed up, resulting in a generalrecovery of paper manufacturing companies during the year. 本集團2024年總收入比去年上升4.2%至260億港元，年度盈利較去年上升17.6%至14億 港 元 。 年 內 每 股 盈 利30.56港 仙（2023年：24.39港仙）。 For 2024, the Group recorded total revenue of HK$26.0 billion,representing an increase of 4.2% from that of the previous year,while the profit for the year increased by 17.6% to HK$1.4 billion ascompared with that for the previous year. The earnings per share forthe year were HK30.56 cents (2023: HK24.39 cents). 董事會建議2024年派發末期股息每股4.5港仙（2023年：6.1港仙）。 The board of directors has proposed a final dividend of HK4.5 centsper share for 2024 (2023: HK6.1 cents). 行業及業務回顧