澜沧古茶2024 年度报告

(A joint stock company incorporated in the People’s Republic of China with limited liability)Stock code股份代號: 6911（於中華人民共和國註冊成立的股份有限公司） Annual Report2 0 2 4年度報告 CONTENT Company's Profile2 Corporate Information3 Definitions and Glossary5 Financial Summary10 Chairlady’s Statement11 Management Discussion and Analysis12 Biographical Details of Directors, Supervisorsand Senior Management37 Report of the Board of Directors56 Report of the Supervisory Committee81 Corporate Governance Report84 Independent Auditor’s Report115 Consolidated Statement of Profit or Loss andOther Comprehensive Income125 Consolidated Statement of Financial Position126 Consolidated Statement of Changes in Equity128 Consolidated Statement of Cash Flows129 Notes to the Consolidated Financial Statements131 COMPANY’S PROFILE Withstringent quality requirements running through the entireindustrial chain, the Group is among the very few tea companiesinChina experienced in raw material management,productdevelopment, production, end customer reach and membershipservices. After over twenty years of operation, we have establishedourselves as one of the most famous tea leaf brands in China. We have established Lan Cang Gu Cha () as our corebrand,under which we have developed and structured threeproduct lines, namely 1966, Tea Mama () and Iland Tea(). 1966 series focused on the development, manufacturingandsales of classic Pu’er tea products;while Tea Mama andIland Tea are more youthful, popular and portable. Their productofferings include flavored tea, black tea, white tea, and more. In2024, the Company effectively utilized its supply chain resourcesand integration capabilities to provide high-quality raw tea tailoredtocustomer needs,assisting them in producing tea-relatedbeverages. We boast a comprehensive sales network both onlineand offline. Our offline network primarily consists of distributionchannel stores, covering over 150 cities in more than 29 provincesand municipalities in China. In addition to distribution channels,the sales scale of our offline channels to key accounts has beencontinuouslyexpanding in recent years.Our online channelscovere-commerce platforms such as Tmall,JD.com,WeChat,Douyin, etc. We have always been persevering in “craftsmanship to pursuethe genuine taste and present wholesome tea leaf products (,)”. Leveraging our ability to source highquality rough tea leaves, our accumulation of unique productiontechniquesand our stringent quality control measures,we areable to ensure the superior and stable quality of our products.Additionally,with abundant stock levels and professional rawmaterial inventory management, we are able to promptly produceproductsthat meet the evolving market demands,continuouslysupplying more high-quality, healthy offerings to the market. CORPORATE INFORMATION COMPANY NAME PU’ER LANCANG ANCIENT TEA CO., LTD. BOARD OF DIRECTORSEXECUTIVE DIRECTORS Ms. Du Chunyi ()(chairlady)Mr. Zhou Xinzhong ()Mr. Zhang Muheng ()Ms. Shi Yijing ()Mr. Fu Gang ()Mr. Liu Jiajie () INDEPENDENT NON-EXECUTIVEDIRECTORS Dr. Xie Xiaoyao ()Mr. Tang Zhangliang ()Dr. Yang Kequan () SUPERVISORY COMMITTEE Ms. Huang Yingzhi ()(chairlady)Ms. Zhu Meixuan ()Mr. Luo Zhonghong () JOINT COMPANY SECRETARIES Ms. He Yunhong ()Ms. Wong Yuen Ki () AUTHORIZED REPRESENTATIVES Mr. Liu Jiajie ()Ms. He Yunhong () CORPORATE INFORMATION COMPANY WEBSITE www.lcgc.cn PRINCIPAL BANKERS Industrialand Commercial Bank of China Limited(GuangzhouBaiyun Road Branch)Bank of China Limited (Guangzhou Chajiao Branch)China Merchants Bank Co., Ltd. (Guangzhou Renmin Middle RoadBranch)AgriculturalBank of China Co.,Ltd.(Lancang Lahu EthnicAutonomous County Branch)Yunnan Lancang Rural Commercial Bank Co., Ltd. H SHARE REGISTRAR H Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong STOCK CODE 6911 DEFINITIONS AND GLOSSARY In this Annual Report, unless the context otherwise requires, thefollowingterms and expressions have the meanings set forthbelow. Pu’erLancang Ancient Tea Co.,Ltd.(),incorporatedunder the PRC laws on September 11, 2002 under the name of Lancang CountyAncientTea Co.,Ltd.()as a limited liability company andconverted into a joint stock company under the PRC laws on February 13, 2018 DEFINITIONS AND GLOSSARY DEFINITIONS AND GLOSSARY DEFINITIONS AND GLOSSARY the prospectus issued by the Company on December 14, 2023, which is publishedon the websites of the Company and the Stock Exchange (GB/T22111 2008) a variety of tea traditionally produced in Yunnan Province, China and named afterthe market town in which it was first developed, made from larger leaf strains ofcamellia sinensis, as defined in the national standard for Pu’er tea (GB/T 22111-2008) issued by Administration of Quality Supervision, Inspection and Quarantineof the People’s Republic of China and Standardization Administration of China.Depending on whether it has been artificially fermented, Pu’er tea can be furthe