中国心连心化肥二零二四年年报

(Incorporated in Singapore with limited liability)（於新加坡註冊成立之有限公司） Stock Code股份代號 ：1866 * For identification purposes only僅供識別 2024 ANNUAL REPORT High-EfficiencyFertilisers in China China XLX Culture We uphold a culture of integrity and the corporate spirit of “Dedicated tohard workSatisfy the needs of others” and we are committed to creating thegreatest value for the society with the least resources. Contents 105Independent Auditor’s Report113Consolidated Statement of Profit or Loss and OtherComprehensive Income114Statements of Financial Position117Statements of Changes in Equity120Consolidated Statement of Cash Flows123Notes to Financial Statements250Five-Year Financial Summary251Glossary 2Company Profile9Corporate Information12Financial Highlights13Major Events in 202418Chairman’s Statement23Management Discussion and Analysis51Directors, Senior Management and CompanySecretaries63Investor Relations66Corporate Governance Report93Directors’ Statement CHINA XLX DEVELOPMENT STRATEGY The Company’s Strategic Positioning and Tactics “1“ Corporate Vision1 Committed to become China’s most respected fertiliser enterprise group “1”Core Mission1 Achieve high-efficiency, high-end, lean development in the Group “2”Adherences CHINA XLX DEVELOPMENT STRATEGY Operation and Development Goals of the "Four" Major Bases The forthcoming three years will be devoted to “achieving stability and prosperity”, implementing the strategy of “low-cost +differentiation + efficient operation”, as well as strengthening and refining various “fertiliser and chemical” products. The goal is tobuild a “lighthouse factory” to elevate per capita labour efficiency. Through the resource reallocation of the park by technologicaltransformation, there will be a substantial reduction in energy consumption and costs, positioning the Company as a leader in energyefficiency within the industry, thereby strengthening its core competitiveness. + + The Jiangxi base strives to be a leading industry benchmark in safety, environmental protection, energy efficiency, andprofitability in the southern Yangtze River region Our three-year plan is to combine the park’s resources by "strengthening the base and extending the chain" and concentrate on thegrowth of our four business sectors, being basic chemicals, high efficiency fertilisers, fine chemicals and new materials. The Xinjiang base becomes the first brand of fertiliser in Xinjiang region The three main goals that we will concentrate on over the next three years are "stabilizing the foundation, strengthening thechain, and extending the chain", and integrate internal and external resources to focus on the three major tasks of “increasingquantity and improving quality of chemical fertilisers, improving the scale and technology of melamine, and premiumizationof new polyformaldehyde materials". As a result, we will establish three leading brands of chemical fertilisers, melamine, andpolyformaldehyde, and together we will build a 10-billion base that will serve as an important growth pole for the Group as it workstowards its ultimate goal of reaching 100-billion market capitalization. The Guangxi base to build the most competitive benchmark demonstration base in South China and Southwest region In the next three years, in accordance with the best leading standards in the industry, we will focus on constructing the base,establishing the XLX brand, and strategically planning the industrial chain. Company Profile Henan Xinxiang Base Located in Xinxiang EconomicDevelopment Zone, Henan Province,Henan Province, it endeavours to builda recycling, economic and chemicalindustry park with multiple ends, greenenvironmental protection, high efficiencyand energy conservation Jiangxi Jiujiang Base Located in the Jishan Chemical IndustrialPark, Jiujiang, Jiangxi Province, itendeavours to build a smart and moderncoal chemical production base withleading techniques in environmentalprotection and excellent profitability Xinjiang Manas Base Located in the Taxihe Industrial Park, BaojiadianTown, Manas County, Changji Prefecture,Xinjiang Uygur Autonomous Region, itendeavours to build a green production basewith high resource conversion, industrial chainsynergy and unique product features Guangxi Guigang Base Located in Guiping New Materials Industrial Parkof Guigang City, Guangxi Zhuang AutonomousRegion, it endeavours to build the mostcompetitive benchmark demonstration base inSouth China and Southwest China Company Profile 9 Raffles Place, #26-01 Republic Plaza,Singapore 0486191866 China XLX was incorporated with limited liability on 17 July 2006 inSingapore under the Companies Act 1967, with the Group’s registeredoffice at 9 Raffles Place, #26-01 Republic Plaza, Singapore 048619. China XLXhas been listed on the Main Board of the SEHK since 8 December 2009 withstock code “1866”. DMF The Group’s headquarters and principal place of business is located inXinxiang Economic Development Zone, Henan Pr