兴发铝业2024年报

ANNUAL REPORT CONTENTS目 錄 107Consolidated Statement of Profit or Loss108Consolidated Statement of Profit or Lossand Other Comprehensive Income109Consolidated Statement of FinancialPosition111Consolidated Statement of Changes inEquity112Consolidated Cash Flow Statement114Notes to the Consolidated FinancialStatements215Five Years Summary 2Corporate Information 6Chairman’s Statement 10Management Discussion and Analysis 27Directors and Senior Management 40Report of the Directors 79Corporate Governance Report 99Independent Auditor’s Report on theConsolidated Financial Statements Corporate Information公司資料 DIRECTORS AND BOARD COMMITTEES Directors Executive Directors WANG Li(Chairman)LIAO Yuqing(Chief Executive Officer)ZHENG Jianhua(Chief Financial Officer)(appointed on 16 August 2024)LAW Yung KoonWANG ZhihuaLUO Jianfeng Non-executive Directors ZUO ManlunXIE Jingyun (resigned on 16 August 2024)WANG Lei (redesignated as non-executive Director on16 August 2024) Independent Non-executive Directors CHEN MoHO Kwan YiuLAM Ying Hung, AndyWEN Xianjun Board Committees Audit Committee LAM Ying Hung, Andy(Chairman)CHEN MoHO Kwan YiuXIE Jingyun (resigned on 16 August 2024)WANG Lei (appointed on 16 August 2024) Remuneration Committee HO Kwan Yiu(Chairman)CHEN MoLAM Ying Hung, AndyWANG LiLIAO Yuqing Corporate Information公司資料 Nomination Committee WANG Li(Chairman)CHEN MoHO Kwan YiuLAM Ying Hung, AndyZUO Manlun Company Secretary PANG Wai Ho AUTHORIZED REPRESENTATIVES WANG LiLIAO YuqingWANG Zhihua (alternate to LIAO Yuqing) REGISTERED OFFICE Cricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1–1111Cayman Islands Cricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1–1111Cayman Islands HEAD OFFICE AND PRINCIPAL PLACE OFBUSINESS IN THE PRC D5 No. 5, Zone D, Central Science and Technology Industrial ParkSanshui DistrictFoshan CityGuangdong Provincethe PRC Corporate Information公司資料 PRINCIPAL PLACE OF BUSINESSIN HONG KONG 626605 Unit 605, 6/FWing On Plaza62 Mody RoadTsim Sha Tsui EastKowloonHong Kong PRINCIPAL BANKERS Bank of ChinaAgriculture Bank of ChinaIndustrial and Commercial Bank of China Limited LEGAL ADVISER As to Hong Kong law:Hastings & Co.As to Cayman Islands law:Conyers Dill & Pearman Conyers Dill & Pearman AUDITORS •8835 Deloitte Touche TomatsuRegistered Public Interest Entity Auditors35/F, One Pacific Place88 QueenswayHong Kong Corporate Information公司資料 SHARE REGISTRARS Principal Share Registrar and Transfer Office inthe Cayman Islands Suntera (Cayman) LimitedSuite 3204, Unit 2ABlock 3, Building DP.O. Box 1586, Gardenia CourtCamana BayGrand Cayman, KY1–1100Cayman Islands Suntera (Cayman) LimitedSuite 3204, Unit 2ABlock 3, Building DP.O. Box 1586, Gardenia CourtCamana BayGrand Cayman, KY1–1100Cayman Islands Branch Share Registrar and Transfer Officein Hong Kong 183171712–1716 Computershare Hong Kong Investor Services LimitedShops 1712–171617/F, Hopewell Centre183 Queen’s Road EastWanchaiHong Kong WEBSITE www.xingfa.com www.xingfa.com STOCK CODE 00098.HK 00098.HK Chairman’s Statement主席報告 I am pleased to present the 2024 annual results of Xingfa AluminiumHoldings Limited (the “Company”, together with its subsidiaries, the“Group”, “the Company”, or “Xingfa Aluminium”). In the past year of 2024, the real estate market in the PRC graduallyshowed signs of marginal stabilization under the continuous impactof policies. Despite certain challenges faced by the market, asone of China’s leading manufacturers of aluminium profiles, theGroup, under the right leadership of the board of directors, hadestablished strong market competitiveness through flexible businessstrategies and solid research and development capabilities, achievingsteady performance growth. In terms of the international market,with the complexity and volatility of the current internationaltrade situation, the Group adopted a more prudent attitude whendeveloping overseas business, and enhanced research on tradepolicies and market dynamics to address risks such as trade frictionsand exchange rate fluctuations, thus ensuring steady growth of itsoverseas business. As a leading supplier of aluminium profiles in China, the Groupintegrated brand building into the construction of a modernindustrial system, consistently striving to strengthen and refineits service brand, continuously enhancing and improving brandmanagementsystems,and formulating a long-term branddevelopment strategy. The Group achieved outstanding results inbrand building, winning numerous high-quality landmark projectsat home and abroad with its excellent reputation and services, andits products had been applied in landmark construction such as theShanghai Jiushi International Equestrian Center, Hangzhou Grand Convention and Exhibition Center, andShenzhen Qianhai Financial Holdings Building.The Group also continued to deepen its cooperative relationshipswith real estate developers with good cash flow conditions to reducethe Group’s financ