中国联塑2024年报

CORPORATE PROFILE企業簡介 China Lesso Group Holdings Limited (Stock Code of Hong Kong StockExchange: 2128) is a leading large-scale industrial group thatmanufactures piping and building materials in China. After more than38 years of rapid development, the Group has evolved into a leader inthe industry of building materials and home improvement. It provideshigh-quality products and services such as plastic piping, buildingmaterials and home improvement, new energy, environmentalprotection, and operates a supply chain service platform. 212838 30192,978 Currently, the Group has established over 30 advanced productionbases in 19 provinces of China and in foreign countries. The Group hasestablished a nationwide sales network and has also developed long-term strategic partnerships with 2,978 independent and exclusive first-t i e r d i s t r i b u t o r s t h a t e n a b l e t i m e l y a n d e f f i c i e n t s u p p l y o fcomprehensive, quality products and professional services tocustomers. As an integrated manufacturer of a comprehensive range ofpiping and building materials, China Lesso provides over 10,000 typesof quality products, which are widely applied to such fields as homeimprovement, civil architecture, municipal water supply, drainage,energy management, electric power transmission, telecommunication,gas supply, fire services, environmental protection, agriculture andmarine aquaculture. 2FinancialHighlights財務摘要3Five-yearFinancialSummary五年財務概要4Chairman’sStatement主席報告書7BiographicalDetailsofDirectorsandSeniorManagement董事及高級管理人員履歷16CorporateGovernanceReport企業管治報告4245ManagementDiscussionandAnalysis管理層討論及分析6163Directors’Report董事會報告76IndependentAuditor’sReport獨立核數師報告86ConsolidatedStatementofProfitorLossandOtherComprehensiveIncome綜合損益及其他全面收益表88ConsolidatedStatementofFinancialPosition綜合財務狀況表90ConsolidatedStatementofChangesinEquity綜合權益變動表92ConsolidatedStatementofCashFlows綜合現金流量表94NotestoConsolidatedFinancialStatements綜合財務報表附註235SummaryofMajorInvestmentProperties主要投資物業概要238Glossary詞彙241CorporateInformation公司資料 CONTENTS目錄 FINANCIAL HIGHLIGHTS財務摘要 FIVE-YEAR FINANCIAL SUMMARY五年財務概要 CHAIRMAN’S STATEMENT主席報告書 Dear Shareholders, As China Lesso marked its 38th anniversary, I am honoured to present,on behalf of the Board, a report on the Group’s performance in 2024 andour strategic plans for future development. 382024 2024(GDP)5.0% In 2024, the global economic recovery lost momentum, geopoliticalrisks escalated, and trade protectionism gained traction. MainlandChina faced its challenges, including revitalise the real estate market,sluggish domestic demand, and structural economic imbalances.N e v e r t h e l e s s , t h e C h i n e s e g o v e r n m e n t a c t i v e l y p u r s u e dmacroeconomic policies to restore market confidence and sustainsteady growth. As a result, the country’s gross domestic product (GDP)expanded by 5.0% year-on-year, underscoring the resilience of theChinese economy. China Lesso has consistently adhered to its development strategy of“further developing the piping business and capitalising on theemergence of green energy for mutual benefit”. Guided by the principlesof“striving for customer satisfaction by prioritising quality and driving itsdevelopment with industry-leading technology”, China Lesso remainscommitted to delivering high-value products and services to society.Through years of dedication, the Group has evolved into aconglomerate with business operations spanning piping systems,building materials and home improvement, environmental protection,new energy, and supply chain service platforms. During the year, the Group has remained steadfast in executing aprudent growth strategy, focusing on five key pillars:“Concentration”,“Cultivation”,“Smart Manufacturing”,“Innovation”, and“Global Expansion”.By developing its piping systems business alongside diversifiedoperations, the Group continues to expand its revenue base, unlocklong-term value, and progress towards even higher-quality growth. TheGroup has remained committed to its core brand strategy of“quality,platform development, and global expansion”, consistently advancingthrough innovation and craftsmanship. By integrating technologicalprogress with superior quality, the Group has elevated a hallmark ofChinese manufacturing in the modern era, empowering Chinesebrands to reach the global stage through the strength of its pipingsolutions. CHAIRMAN’S STATEMENT主席報告書 In 2024, China Lesso remained steadfast in adhering to the principles ofprudent business development. The Group has adjusted its internalresources, investing more in its core piping business, focusing onmarket cultivation, and continually strengthening its market foundationwhile enhancing product quality. Riding on its strong resilience, theGroup has maintained stable business operations. Amid a fluctuatingenvironment, the Group has sustained steady development andconsistently delivered reliable returns for the Shareholders andinvestors. The Group recorded revenue