亚洲水泥(中国)年报 2024

Annual Report2024 CONTENTS 2Corporate Information5Financial Highlights6Chairman’s Statement8Management Discussion and Analysis20Corporate Governance Report43Directors and Senior Management49Directors’ Report61Independent Auditor’s Report 67Consolidated Financial Statements 67Consolidated Statement of Profit or Lossand Other Comprehensive Income68Consolidated Statement ofFinancial Position70Consolidated Statement ofChanges in Equity72Consolidated Statement of Cash Flows74Notes to the ConsolidatedFinancial Statements Corporate Information BOARD OF DIRECTORS Executive Directors Mr. HSU, Shu-ping(Vice Chairman)Mr. CHANG, Chen-kuen(Chief Executive Officer)Mr. LIN, Seng-chang Non-Executive Directors Mr. HSU, Shu-tong(Chairman)Mr. CHEN, Ruey-long (Re-designated from an executive Director toa non-executive Director on 29 April 2024)Mr. LEE, Kun-yen (Re-designated from an executive Director toa non-executive Director on 29 April 2024)Ms. WU, Ling-ling (Re-designated from an executive Director toa non-executive Director on 29 April 2024) 20244 2920244 2920244 29 Independent Non-Executive Directors Mr. TSIM, Tak-lung DominicMr. WANG, WeiMr. LEE, Kao-chao (Resigned on 17 October 2024)Dr. WANG, Kuo-mingMr. WU Chun-pang (Appointed on 1 January 2025) 202410 1720251 1 COMPANY SECRETARY Ms. MOK, Ming Wai (Resigned on 31 October 2024)Mr. LUI, Wing Yat Christopher (Appointed on 31 October 2024) (202410 31)202410 31 AUTHORIZED REPRESENTATIVES Mr. CHANG, Chen-kuenMr. LUI, Wing Yat Christopher MEMBERS OF AUDIT COMMITTEE Mr. TSIM, Tak-lung Dominic(Chairman)Mr. HSU, Shu-tongMr. LEE, Kao-chao (Resigned on 17 October 2024)Mr. WU Chun-pang (Appointed on 1 January 2025) 202410 1720251 1 MEMBERS OF REMUNERATION COMMITTEE Dr. WANG, Kuo-ming(Chairman)Mr. HSU, Shu-tongMr. TSIM, Tak-lung Dominic MEMBERS OF NOMINATION COMMITTEE Mr. HSU, Shu-tong(Chairman)Mr. TSIM, Tak-lung DominicMr. WANG, Wei MEMBERS OF INDEPENDENCE COMMITTEE Mr. LEE, Kao-chao (Resigned on 17 October 2024)Mr. TSIM, Tak-lung Dominic(Chairman)(Appointed as Chairman on 7 March 2025)Dr. WANG, Kuo-mingMr. WU Chun-pang (Appointed on 1 January 2025) 202410 1720253 7(20251 1) Corporate Information MEMBERS OF CORPORATE SUSTAINABILITYCOMMITTEE Dr. WANG, Kuo-ming(Chairman)Mr. HSU, Shu-pingMs. WU, Ling-ling REGISTERED OFFICE Cricket Square, Hutchins DrivePO Box 2681, Grand Cayman KY1-1111Cayman Islands Cricket Square, Hutchins DrivePO Box 2681, Grand Cayman KY1-1111Cayman Islands 6 PRINCIPAL PLACE OF BUSINESS IN THE PRC No. 6 Yadong AvenueMa-Tou Town, Ruichang CityJiangxi Province PRINCIPAL PLACE OF BUSINESS IN HONG KONG Portion of Unit B, 11th FloorLippo Leighton Tower103 Leighton RoadCauseway BayHong Kong 10311B PRINCIPAL SHARE REGISTRAR AND TRANSFEROFFICE SMP Partners (Cayman) LimitedRoyal Bank House – 3rd Floor24 Shedden RoadP.O. Box 1586, Grand Cayman KY1-1110Cayman Islands SMP Partners (Cayman) LimitedRoyal Bank House – 3rd Floor24 Shedden RoadP.O. Box 1586, Grand Cayman KY1-1110Cayman Islands HONG KONG BRANCH SHARE REGISTRAR ANDTRANSFER OFFICE Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong 1617 PRINCIPAL BANKERS China Construction BankIndustrial and Commercial Bank of ChinaBank of ChinaBank of Communications HONG KONG LEGAL ADVISER Zhong Lun Law Firm4/F, Jardine House1 Connaught PlaceCentralHong Kong 14 Corporate Information AUDITOR •8835 Deloitte Touche TohmatsuRegistered Public Interest Entity Auditors35/F, One Pacific Place88 QueenswayHong Kong STOCK CODE743 743 COMPANY WEBSITEwww.achc.com.cn www.achc.com.cn (852) 2839 3705(852) 2577 8040 CONTACT DETAILSPhone:(852) 2839 3705Fax:(852) 2577 8040 Financial Highlights Chairman’s Statement To our shareholders, In 2024, the global economic environment was complex and constantlyevolving. The national economy showed great resilience despite externalpressure and internal challenges, with a 5.0% gross domestic product(“GDP”) growth rate for the year. Affected by the decline in downstreamproperty investment and slowdown in infrastructure projects, the cementmarket demand continued the downward trend seen in the past twoyears. In the second half of the year, industry players started to exploreways to counter “involution”. Coupled with the year-on-year decreasein the prices of major raw materials such as coal, the cement industry’sprofits rebounded and the rate of decline was narrowed. 2024GDP5.0% 2024-2025202518202550% At present, low-carbon development and reduction of excess productioncapacity have become the key driving force behind supply-side changes inthe cement industry. The 2024-2025 Action Plan for Energy Conservationand Carbon Reduction issued by the State Council of the People’s Republicof China clearly stated the national cement and clinker production capacitywill be controlled at approximately 1.8 billion tonnes by the end of 2025.At the same time, the Ministry of Ecology and Environment promotedultra-low emission tr