华宝国际2024年度报告

Contents 141Independent Auditor’s Report151Consolidated Statement of Financial Position153Consolidated Income Statement154C o n s o l i d a t e d S t a t e m e n t o f C o m p r e h e n s i v eIncome155Consolidated Statement of Changes in Equity157Consolidated Statement of Cash Flows159Notes to the Consolidated Financial Statements288Five Year Financial Summary289Glossary 8Chairlady’s Report 11Management Discussion and Analysis 45Biographical Details of Directors andSenior Management 50Corporate Governance Report Corporate Information BOARD OF DIRECTORS Executive Directors Ms. CHU Lam Yiu(Chairlady & CEO)Mr. LAM Ka Yu(Co-Chairman & Vice President)Mr. XIA Liqun(Vice Chairman & President)Mr. POON Chiu Kwok(Vice President & Company Secretary)Ms. LAM Ka YanMs. CHOY Man Har Independent Non-executive Directors Jonathan Jun YAN Mr. LEE Luk ShiuMr. Jonathan Jun YANMr. HOU Haitao Jonathan Jun YAN AUDIT COMMITTEE Mr. LEE Luk Shiu(Chairman)Mr. Jonathan Jun YANMr. HOU Haitao REMUNERATION COMMITTEE Mr. LEE Luk Shiu(Chairman)Mr. HOU HaitaoMr. XIA Liqun NOMINATION COMMITTEE Jonathan Jun YAN Ms. CHU Lam Yiu(Chairlady)Mr. LEE Luk ShiuMr. Jonathan Jun YANMr. HOU HaitaoMs. LAM Ka Yan FCG, HKFCG COMPANY SECRETARY Mr. POON Chiu KwokFCG, HKFCG AUDITOR PricewaterhouseCoopersCertified Public AccountantsRegistered Public Interest Entity Auditor LEGAL ADVISORHaiwen & Partners LLP Corporate Information PRINCIPAL BANKERS China CITIC Bank Corporation LimitedChina Minsheng Banking Corp., Ltd.Hang Seng Bank LimitedIndustrial Bank Co., Ltd. HEAD OFFICE AND PRINCIPAL PLACE OFBUSINESS IN HONG KONG 18303008 Suite 300830th Floor, Central Plaza18 Harbour RoadWanchaiHong Kong REGISTERED OFFICE Clarendon House2 Church StreetHamilton HM 11Bermuda Clarendon House2 Church StreetHamilton HM 11Bermuda PRINCIPAL SHARE REGISTRAR Conyers Corporate Services (Bermuda)LimitedClarendon House, 2 Church StreetHamilton HM11Bermuda Conyers Corporate Services (Bermuda)LimitedClarendon House, 2 Church StreetHamilton HM11Bermuda BRANCH SHARE REGISTRAR 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong 00336 STOCK CODE The Stock Exchange of Hong Kong Limited: 00336 www.hbglobal.com COMPANY WEBSITEwww.hbglobal.com Company Profile and Corporate Culture CORPORATE PROFILE Huabao International Holdings Limited and its subsidiaries (the“Group”), consisting of F&F and Food ingredient segment,t o b a c c or a w m a t e r i a l s s e g m e n t ,a r o m a r a w m a t e r i a l ssegment, condiments segment, is mainly engaged in the R&D,production, distribution and sales of flavours, fragrances, andfood ingredients, tobacco raw materials, aroma raw materials,as well as condiments. The Group also makes diversifiedinvestments around its core businesses. It is an industrialholdings group based on the taste-based consumer goodsmarket. A T h e G r o u p h o l d s a l e a d i n g p o s i t i o n i n C h i n a ’ s f l a v o u r s&f r a g r a n c e s i n d u s t r y .I t o w n s m a n y f a m o u s f l a v o u rb r a n d s ,i n c l u d i n g“ H u a b a o F l a v o u r s ”o n t h e A - S h a r e sp l a t f o r m ,“ H e d o n ” ,“ H u a b a o ” ,“ H & K ” ,“ T i a n h o n g ” ,“Huafang”, “Owada”, “Amber” and so on. The Group hasinternationalised product development and manufacturingc a p a b i l i t i e s , o w n s p r o d u c t i o n b a s e s i n r e g i o n s s u c h a sS h a n g h a i, G u a n g d o n g, J i a n g s u, Y u n n a n, J i a n g x i, F u j i a n,Hong Kong, Indonesia, and Botswana in Africa, etc.,. It alsohas a R&D centre in Holzminden, Germany and Singapore,a s t a t e - l e v e l e n t e r p r i s e t e c h n o l o g y c e n t r e i n S h a n g h a i ,and R&D departments in Guangdong, Yunnan and Fujian.Member(s) of the Group takes on leadership roles in a numberof industry associations which are relevant to flavours andfragrances business, including the Vice Chairman of ChinaFood Additives & Ingredients Association, Deputy Directorof China Association of Fragrance & Flavour and CosmeticIndustries, Deputy Director of China Association of Bakery& Confectionery Industry, and Chairman of Shanghai FoodAdditive & Batching Association. T h e G r o u p i s a l s o o n e o f t h e m a r k e t l e a d e r s i n C h i n a ’ stobacco raw materials field, and its production technologya n d p r o d u c t q u a l i t y h a v e t a k e n t h e l e a d i n g p o s i t i o n a tdomestic level and reached advanced international level.Guangdong Jinye, a subsidiary of the Group, is one of theRTL R&D bases authorised by the STMA. In November 2012,the second phase of RTL production line of Guangdong Jinyewas completed, put into production and accepted by theSTMA, which became the first landmark of paper-makingRTL production line certified by the STMA. Its productiontechnology has been recognized by the STMA to have reachedthe highest technology level in terms of domestic paper- Company Profile and C