中国圣牧年度报告2024

Corporate Profile Youthful, Open, Transformative, Sustainable, and Collaborative Striving for 15 Years, Creating a Green Miracle15 China Shengmu Organic Milk Limited (the “Company” or “China Shengmu”, together with its subsidiaries, the “Group”), as China’s first raw milksupplier certified by both domestic and EU organic standards, has firmly pursued a high-quality development path guided by ecological priorityand green sustainability, with the Ulan Buh Desert as its core base. We have transformed 350,000 mu of desert into high-quality pasture, plantedover 98 million sand-fixing trees, and built a robust sand barrier, turning 220 square kilometers of desert into an oasis. This once barren landhas been transformed into an ecological organic paradise. We have significantly increased our investment in ecological construction, solidifyingthe industrial environmental foundation, constructing 193.3 kilometers of roads, 277.9 kilometers of power lines, 11 reservoirs, 9 organic manurefermentation plants, and 1 bio-organic fertilizer processing plant in the desert. 359,800220193.3277.91191 China Shengmu has successfully established a closed-loop ecological industry of “desert oasis + organic farming and breeding”. By the end ofthe reporting period, the Group owned 34 farms, including organic milk farms, DHA milk farms, organic A2 milk farms, and standard high-qualityraw milk farms, with a total of 144,000 dairy cows and a daily fresh milk production of approximately 2,015 tonnes. The annual productioncapacity of ecological organic raw milk has reached 600,000 tonnes. +34DHAA214.42,01560 China Shengmu was recognized by the United Nations Global Compact as the best practice in the category of “Sustainable Production andConsumption”. China Shengmu’s end-user brand organic milk won the Gold Award at the 17thAsia International Organic Product Expoonce again. For 15 years, the Group has focused on desert organic practices, and its advocated “Natural Slow-Rearing” organicphilosophy has resonated strongly within the industry. The Group firmly believes that high-quality milk originates from naturalsources. “Slow cultivation of soil”, “slow cultivation of grass” and “slow cultivation of cows” are the key factors behind thesuccess of Shengmu’s organic milk. 15 Contents 256101213326775101108109110112114117240 Corporate InformationLocation Map of Organic Production BaseChairman’s StatementHighlightsCorporate CultureManagement Discussion and AnalysisReport of the DirectorsDirectors and Senior ManagementReport on Corporate Governance PracticesIndependent Auditor’s ReportConsolidated Statement of Profit or LossConsolidated Statement of Comprehensive IncomeConsolidated Statement of Financial PositionConsolidated Statement of Changes in EquityConsolidated Statement of Cash FlowsNotes to Financial StatementsFinancial Summary Corporate Information Board of DirectorsEXECUTIVE DIRECTORMr. ZHANG Jiawang(Chief Executive Officer) NON-EXECUTIVE DIRECTORS Mr. CHEN Yiyi(Chairman)Mr. ZHANG PingMr. ZHAO JiejunMr. SUN QianMs. SHAO LijunMr. LU Minfang(resigned with effect from 28 May 2024) INDEPENDENT NON-EXECUTIVE DIRECTORS Mr. WANG LiyanMr. WU LiangMr. SUN Yansheng (CPA, ACG, HKACG) Company SecretaryMr. LI Kwok Fat(CPA, ACG, HKACG) Authorised Representatives Mr. ZHANG JiawangMr. LI Kwok Fat Audit Committee Mr. WANG Liyan(Chairman)Mr. ZHANG PingMr. WU Liang Remuneration Committee Mr. SUN Yansheng(Chairman)Mr. ZHANG PingMr. WU Liang Corporate Information Nomination Committee Mr. CHEN Yiyi(Chairman)Mr. WANG LiyanMr. WU Liang Strategic and Sustainability Committee Mr. CHEN Yiyi(Chairman)Mr. ZHANG JiawangMr. ZHAO JiejunMr. SUN Qian Registered Office P.O. Box 309Ugland HouseGrand Cayman, KY1-1104Cayman Islands P.O. Box 309Ugland HouseGrand Cayman, KY1-1104Cayman Islands Principal Place of Business in Hong Kong 26232A Room A, 32nd Floor COFCO Tower262 Gloucester RoadCauseway BayHong Kong Headquarter and Principal Place ofBusiness in China Food Industry ParkDeng Kou CountyBayannur CityInner Mongolia Autonomous RegionPRC Stock Code 1432 The Main Board of The Stock Exchange of Hong Kong Limited1432 Principal Share Registrar andTransfer Office Maples Fund Services (Cayman) LimitedP.O. Box 1093, Boundary HallCricket SquareGrand Cayman KY1-1112Cayman Islands Maples Fund Services (Cayman) LimitedP.O. Box 1093, Boundary HallCricket SquareGrand Cayman KY1-1112Cayman Islands Corporate Information Hong Kong Branch Share Registrar andTransfer Office 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong Principal Bankers Export-Import Bank of ChinaBank of China LimitedAgricultural Bank of China LimitedIndustrial Bank Co., Ltd.DBS Bank Ltd. Auditor Ernst & Young(Certified Public Accountants and Registered PIE Auditor) Legal Advisors AS TO HONG KONG LAW LinklatersAllen Overy Shearman Sterling AS TO CAYMAN ISLANDS LAWMaples and Calder http://www.shengmuorganicmilk.com Websi