中国新经济投资年报 2024

C O N T E N T S目錄 CORPORATE INFORMATIONCHAIRMAN’S STATEMENTMANAGEMENT DISCUSSION AND ANALYSISPROFILES OF DIRECTORSREPORT OF THE DIRECTORSCORPORATE GOVERNANCE REPORTENVIRONMENTAL, SOCIAL ANDGOVERNANCE REPORTINDEPENDENT AUDITORS’ REPORT Statement of profit or loss and othercomprehensive incomeStatement of financial positionStatement of changes in equityStatement of cash flowsNotes to financial statements SUMMARY OF FINANCIAL INFORMATION財務資料概要164 Corporate Information公司資料 BOARD OF DIRECTORS Executive DirectorsMr. Chan Cheong Yee 陳昌義先生 Non-Executive Directors 陳勝杰先生（主席）（於2024年10月16日獲委任）黃斌先生（聯席主席）（於2024年9月17日辭任）蔡捷思先生（聯席主席）（於2024年10月16日辭任）蔡冠明先生肖瑞美女士 Mr. Chen Shengjie(Chairman)(Appointed on 16 October 2024)Mr. Huang Bin(Co-Chairman)(Resigned on 17 September 2024)Mr. Choi Chit Sze Jackson(Co-Chairman)(Resigned on 16 October 2024)Mr. Choi Koon MingMs. Xiao Ruimei Independent Non-Executive Directors 唐潤農先生施德誌先生隋福祥先生 Mr. Tong Yun LungMr. Sze Tak ChiMr. Sui Fuxiang AUDIT COMMITTEE 施德誌先生（主席）唐潤農先生隋福祥先生 Mr. Sze Tak Chi(Chairman)Mr. Tong Yun LungMr. Sui Fuxiang REMUNERATION COMMITTEE 隋福祥先生（主席）唐潤農先生施德誌先生 Mr. Sui Fuxiang(Chairman)Mr. Tong Yun LungMr. Sze Tak Chi NOMINATION COMMITTEE 唐潤農先生（主席）施德誌先生隋福祥先生 Mr. Tong Yun Lung(Chairman)Mr. Sze Tak ChiMr. Sui Fuxiang COMPANY SECRETARY Mr. Tai Man Hin Tony(CPA, FCA, FCCA) INVESTMENT MANAGER 恒大證券（香港）有限公司（於2024年10月4日終止服務） Evergrande Securities (Hong Kong) Limited(Service terminated on 4 October 2024) ADMINISTRATOR Amicorp Fund Services Asia LimitedRooms 2103–4, 21/F.Wing On Centre111 Connaught Road CentralHong Kong Amicorp Fund Services Asia Limited香港干諾道中111號永安中心21樓2103–4室 CUSTODIAN 交通銀行信託有限公司香港德輔道中121號遠東發展大廈1樓 Bank of Communications Trustee Limited1/F., Far East Consortium Building121 Des Voeux Road CentralHong Kong REGISTERED OFFICE P.O. Box 309, Ugland HouseSouth Church Street, George TownGrand Cayman KY1-1104Cayman Islands P.O. Box 309, Ugland HouseSouth Church Street, George Town GrandCayman KY1-1104Cayman Islands PRINCIPAL PLACE OF BUSINESS IN HONG KONGAND HEADQUARTERS 香港金鐘夏愨道12號美國銀行中心18樓1802B室 Room 1802B, 18/F.Bank of America Tower,12 Harcourt Road,Admiralty,Hong Kong AUDITORS 開元信德會計師事務所有限公司香港灣仔分域街18號捷利中心15樓1503室 Elite Partners CPA LimitedUnit 1503, 15/F.Jubilee Centre18 Fenwick StreetWan ChaiHong Kong Corporate Information公司資料 HONG KONG SHARE REGISTRAR 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/F.Two Chinachem Exchange Square338 King’s RoadNorth PointHong Kong LEGAL ADVISERS as to Cayman Islands Law:Maples and CalderP.O. Box 309, Ugland HouseSouth Church Street, George TownGrand Cayman KY1-1104Cayman Islands Maples and CalderP.O. Box 309, Ugland HouseSouth Church Street, George TownGrand Cayman KY1-1104Cayman Islands as to Hong Kong Law:CLKW Lawyers LLPRoom 1901A, 1902 & 1902A, 19/F.New World Tower 116–18 Queen’s Road CentralCentralHong Kong CLKW Lawyers LLP香港中環皇后大道中16–18號新世界大廈1期19樓1901A、1902及1902A室 WEBSITE www.chinaneweconomyfund.com www.chinaneweconomyfund.com 本人謹代表中國新經濟投資有限公司（「本公司」）董事會（「董事會」或「董事」）欣然提呈本公司截至2024年12月31日止年度（「本年度」）之年度業績。 On behalf of the board of directors (the “Board” or the “Directors”) ofChina New Economy Fund Limited (the “Company”), I am pleased topresent the Company’s annual results for the year ended 31 December2024 (the “Year”). 本公司為一間於2010年2月1日成立之封閉式投資公司。透過大量投資獲大中華地區新經濟支持之私人及公眾企業多元組合，本公司致力於為專業投資者取得長期資本增值。 The Company is a closed-ended investment company established on1 February 2010. By investing substantially in both private and publicenterprises within a diversified portfolio supported by the new economiesof Greater China, the Company is devoted to achieving long-term capitalappreciation for professional investors. FINANCIAL HIGHLIGHTS 於本年度，本公司於上市及私募股票維持中長期投資策略。本公司截至2024年12月31日持有一項香港上市公司投資、三項私募股權證券投資、一隻有限合夥基金及一隻開放式基金。香港首次公開發售市場的金融印刷板塊為我們的主要投資項目之一。本公司於本年度錄得股東應佔虧損淨額28,978,531港元，其中包括投資組合中投資持倉公平值虧損變動淨額17,515,762港元。 During the Year, the Company maintained a medium to long-terminvestment strategy in both public and private equities. The Companyheld one investment in a Hong Kong-listed company, three investmentsin private equity securities, one limited partnership fund and one open-ended fund as of 31 December 2024. One of our major investments is inthe financial printing sector focusing on the Hong Kong IPO market. TheCompany reported net loss attributable to shareholders of HK$28,978,531during the Year, which consisted of the net change in fair value loss ofHK$17,515,762 taken on the investment positions in the portfolio. 本公司的投資表現於本年度受中國經濟的重大經濟挑戰及中港股市政治風險上升所影響。於2024年12月31日，本公司錄得經審核資產淨值約每股0.05港元。虧損淨額主要由於近期香港股市動盪以致按公平值透過損益列賬的金融資產已變現虧損淨額3,541,193港元及未變現虧損淨額13,974,569港元。鑑於最近市況不穩，本公司將繼續謹慎監控投資。 The investment performance of the Company during the Year wasaffected by significant economic challenges in the Chinese economy,as well as increasing political risks in the Hong Kong and China stockmarkets. As at 31 December 2024, the Company reported an audited netasset va