ST晨鸣B：2024年年度报告

AnnualReport2024 March 2025 I Important Notice, Table of Contents and Definitions The board of directors (the “Board”), the supervisory committee (the “Supervisory Committee”) and the directors (the“Directors”), supervisors (the “Supervisors”) and senior management (the “Senior Management”) of the Company herebywarrant the truthfulness, accuracy and completeness of the contents of the annual report, guarantee that there are no falserepresentations, misleading statements or material omissions contained in this annual report, and are jointly and severallyresponsible for the liabilities of the Company. Hu Changqing, head of the Company, Dong Lianming, head in charge of accounting and Zhang Bo, head of the accountingdepartment (Accounting Officer), declare that they warrant the truthfulness, accuracy and completeness of the financial reportin the annual report. All Directors have attended the board meeting to review this report. Grant Thornton (Special General Partnership) has issued the 2024 annual audit report with a qualified opinion for theCompany. The Board and the Supervisory Committee of the Company have provided detailed explanations regarding therelevant matters. Investors are advised to carefully read these explanations. Reminder of material deficiencies in internal control✓ApplicableNot applicable Grant Thornton (Special General Partnership) has issued an adverse opinion in the auditor’s report on internal control for 2024for the Company. Please refer to XII to XIV of section VI Corporate Governance for details. Forward-looking statements such as future plans contained in this annual report do not represent earnings forecasts ofthe Company nor constitute substantive commitments to investors by the Company. Investors and relevant persons shallmaintain a sufficient risk awareness hereto and understand the differences among plans, forecasts and commitments. The Company is exposed to various risk factors such as macro-economic fluctuation, state policies and regulations andcompetition in the industry. Investor should be aware of investment risks. For further details, please refer to the risk factorslikely to be faced and the measures to be taken to address them as set out in the outlook on the future development of theCompany in section VI Management Discussion and Analysis. The Company does not propose distribution of cash dividends or bonus shares, and there will be no increase of share capitalfrom reserves. Table of Contents IImportant Notice, Table of Contents and Definitions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1IICompany Profile and Key Financial Indicators . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6IIIChairman’s Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11IVManagement Discussion and Analysis. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13VDirectors’ Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .42VICorporate Governance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .52VIIEnvironmental and Social Responsibility . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .105VIIIMaterial Matters . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .112IXChanges in Share Capital and Shareholders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .134XPreference Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .145XIBonds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .146XIIFinancial Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .147 I Important Notice, Table of Contents and Definitions Documents Available for Inspection I.The financial statements signed and sealed by the legal representative, the head in charge of accounting and the head ofthe accounting department of the Company;II.The original copy of the auditor’s report which is sealed by the accounting firm and signed and sealed by the certified publicaccountants;III.The original copies of the documents and announcements of the Company disclosed in the designated newspaper and onthe website as approved by the CSRC during the reporting period;IV.The annual report disclosed on the website of The Stock Exchange of Hong Kong Limi