中国东方集团二零二四年年报

Contents PAGES 25826125136161237257265268270272274442443 Financial HighlightsFinancial Highlights Notes: 1.*202412312023 1.China Oriental Group Company Limited (the “Company”) definesEBITDA as profit/(loss) for the year before finance costs — net,income tax (expense)/credit, amortisation, depreciation and non-cash non-recurring items. During the year ended 31 December2024, there were no adjustments of non-cash non-recurring itemsin the calculation (2023: nil). 2.(i)(ii) 2.The Company defines the adjusted profit for the year (a non-HKFRSmeasure) as profit/(loss) for the year excluding non-recurringgain and the provision for impairment of both (i) properties underdevelopment and held for sale; and (ii) loan receivables relatedto the real estate industry in the second-and-lower-tier cities inthe PRC. Please refer to the sub-section headed “ManagementDiscussion and Analysis — Non-HKFRS Measure” for details of thenon-HKFRS measure. Financial Highlights Financial Highlights Corporate Information BOARD OF DIRECTORS Executive Directors Sanjay Sharma2024628 Mr. Han Jingyuan(Chairman and Chief Executive Officer)Mr. Zhu JunMr. Shen XiaolingMr. Han Li(Chief Financial Officer)Mr. Sanjay SharmaMr. Li Mingdong(appointed on 28 June 2024) Non-executive Directors Ondra Otradovec2024628 Mr. Ondra OtradovecMr. Zhu Hao(retired on 28 June 2024) Independent Non-executive Directors 20246282024628 Mr. Wong Man Chung FrancisMr. Wang Tianyi(retired on 28 June 2024)Mr. Wang BingDr. Tse Cho Che EdwardMs. Yu Fang Jing(appointed on 28 June 2024) COMPOSITION OF BOARD COMMITTEESAUDIT COMMITTEE 20246282024628 Mr. Wong Man Chung Francis(Chairman)Mr. Wang Tianyi(retired on 28 June 2024)Mr. Wang BingMs. Yu Fang Jing(appointed on 28 June 2024) NOMINATION COMMITTEE 20246282024628 Mr. Han Jingyuan(Chairman)Mr. Wong Man Chung FrancisMr. Wang Tianyi(retired on 28 June 2024)Mr. Wang BingMs. Yu Fang Jing(appointed on 28 June 2024) Corporate Information REMUNERATION COMMITTEE 20246282024628 Mr. Wong Man Chung Francis(Chairman)Mr. Han JingyuanMr. Wang Tianyi(retired on 28 June 2024)Mr. Wang BingMs. Yu Fang Jing(appointed on 28 June 2024) AUTHORISED REPRESENTATIVES Mr. Han LiMr. Lam Pak Kan COMPANY SECRETARY Mr. Lam Pak Kan REGISTERED OFFICE Clarendon House2 Church StreetHamilton HM11Bermuda Clarendon House2 Church StreetHamilton HM11Bermuda PRINCIPAL PLACE OF BUSINESS INHONG KONG 239901-210 Suites 901–2 & 10, 9th FloorGreat Eagle Centre23 Harbour RoadWanchai, Hong Kong BERMUDA PRINCIPAL SHARE REGISTRARAND TRANSFER OFFICE Conyers Corporate Services (Bermuda) Limited Conyers Corporate Services (Bermuda) Limited HONG KONG BRANCH SHARE REGISTRARAND TRANSFER OFFICE Tricor Investor Services Limited AUDITOR 20246282024628 Deloitte Touche Tohmatsu(appointed on 28 June 2024)PricewaterhouseCoopers(retired on 28 June 2024) 6China Oriental Group Company Limited www.chinaorientalgroup.com COMPANY’S WEBSITE www.chinaorientalgroup.com LIST OF PRINCIPAL BANKS(IN ALPHABETICAL ORDERS) ING Bank N.V. Agricultural Bank of ChinaBank of CangzhouBank of ChengdeBank of ChinaBank of CommunicationsBank of HebeiBank of TianjinChina Citic BankChina Construction BankChina Everbright BankChina Merchants BankChina Minsheng BankDBS BankHang Seng BankIndustrial and Commercial Bank of ChinaIndustrial BankING Bank N.V.MaybankOCBC BankPing An BankRabobankThe Export-Import Bank of China• Chairman’s Statement In the future, the Group’s business will aim to enter theFortune Global 500. With the “Specialisation, Industrychain extension, High-tech and high-end* ()” strategy as a guarantee, it will integrate into thenew era of high-quality development, move towardsgreen development and innovation, continuouslyoptimise the industrial structure, cultivate new driversof development, and follow a path of characteristicdevelopment. 500 •2024 •REVIEW OF YEAR 2024 Analysis of the Current Situation of the Industry Supply and Demand Pattern 2024V4.4%23.0% Looking back at 2024, the global economy was affected bygeopolitical conflicts, fluctuations in energy prices, and inflationarypressures, resulting in a low growth rate and weak momentum andcontinuing the post-pandemic sluggish recovery trend. China’seconomy generally operated steadily and made progress whilemaintaining stability, showing a “V”-shaped trend throughout theyear. Against this backdrop, the iron and steel industry continuedin a pattern of strong supply and weak demand. Dragged down bythe real estate sector, the growth rate of infrastructure investmentslowed down, increasing by approximately 4.4% year-on-year, butit still played a supporting role. The new construction area of realestate sector decreased by approximately 23.0% year-on-year,leading to continued weak demand for the use of steel products.The production and sales volume of automobiles maintainedgrowth with a stable and positive trend; the manufacturing industryplayed the role of a “ballast stone ()”, but the overal