中国宝力科技年报2024/25

CONTENTS Corporate Information2 Independent Auditor’s Report654 Management Discussion and Analysis Consolidated Statement of Profit or Loss6815 Biographical Details of Directors and SeniorManagement Report of the Directors21 Consolidated Statement of Financial Position7038 Corporate Governance Report Consolidated Statement of Changes in Equity72 Consolidated Statement of Cash Flows76 Notes to the Consolidated Financial Statements77 Five-Year Financial Summary225 Corporate Information公 司 資 料 BOARD OF DIRECTORS Executive Directors: Mr. Wang Bin(Chairman)Mr. Zhang Yi(Vice Chairman)Ms. Chu Wei Ning(Chief Executive Officer)Ms. Lam Sze Man Independent Non-executive Directors: Mr. Chan Fong Kong, FrancisMr. Chan Kee Huen, MichaelMr. Feng Man AUDIT COMMITTEE Mr. Chan Kee Huen, Michael(Chairman)Mr. Chan Fong Kong, FrancisMr. Feng Man REMUNERATION COMMITTEE Mr. Chan Fong Kong, Francis(Chairman)Mr. Chan Kee Huen, Michael NOMINATION COMMITTEE Mr. Chan Kee Huen, Michael(Chairman)Mr. Chan Fong Kong, FrancisMs. Chu Wei Ning (appointed on 30 June 2025) COMPANY SECRETARYMs. Lam Sze Man AUTHORISED REPRESENTATIVESMs. Chu Wei NingMs. Lam Sze Man PRINCIPAL BANKERChina Citic Bank International Limited LEGAL ADVISER Bermuda:Conyers Dill & PearmanHong Kong:Llinks Law Offices LLP Corporate Information (continued)公 司 資 料（ 續 ） AUDITOR 1842 Forvis Mazars CPA LimitedCertified Public Accountants, Hong KongRegistered Public Interest Entity Auditor, Hong Kong42nd Floor, Central Plaza,18 Harbour Road,Wanchai, Hong Kong REGISTERED OFFICE Clarendon House,2 Church Street,Hamilton HM11,Bermuda Clarendon House,2 Church Street,Hamilton HM11,Bermuda PRINCIPAL PLACE OF BUSINESS IN HONG KONG 248–256373706–3708 Suites 3706–3708, 37/F,Dah Sing Financial Centre,248–256 Queen’s Road East,Wanchai, Hong Kong BERMUDA PRINCIPAL SHARE REGISTRAR AND TRANSFEROFFICE Appleby Global Corporate Services (Bermuda) LimitedCanon’s Court, 22 Victoria Street,PO Box HM 1179,Hamilton HM EX,Bermuda Appleby Global Corporate Services (Bermuda) LimitedCanon’s Court, 22 Victoria Street,PO Box HM 1179,Hamilton HM EX,Bermuda HONG KONG BRANCH SHARE REGISTRAR AND TRANSFEROFFICE 1617 Tricor Investor Services Limited17/F, Far East Finance Centre,16 Harcourt Road,Hong Kong PLACING OF LISTING Main Board of the Stock Exchange STOCK CODE164 164 Management Discussion and Analysis管 理 層 討 論 及 分 析 BUSINESS REVIEW The principal activity of the Company is investment holding and theprincipal activities of its subsidiaries are dry grinding and dry beneficiation(“DGDB”) business and convergence media business. During the year ended 31 March 2025, the global economy facedpersistent challenges marked by high inflation, elevated interest rates,and geopolitical tensions. Despite some easing in energy prices, overalleconomic recovery was uneven. In China, structural issues such as weak private sector sentimentcontinued to constrain economic momentum, which adversely affectedbusiness activities and consumer demand. 48,246,00055,294,0007,445,0009,438,0002% For the year ended 31 March 2025, the Group recorded a consolidatedr e v e n u e o f a p p r o x i m a t e l y H K $48,246,000 (2024: approximatelyH K $55,294,000) m a i n l y c o n t r i b u t e d f r o m t h e t i t a n i u m d i o x i d edistribution and the convergence media advertising businesses. Grossprofit for the year ended 31 March 2025 was HK$7,445,000 (2024:HK$9,438,000). The gross profit margin decreased slightly by 2%, whichwas mainly contributed by the increased market competition in bothbusiness segments. 1,455,00033,704,0006,483,00027,474,000 The net loss for the year ended 31 March 2025 was approximatelyHK$1,455,000, as compared with the net loss of approximatelyHK$33,704,000 for the year ended 31 March 2024. The decrease in thenet loss for the year ended 31 March 2025 was mainly attributable to thereversal of impairment loss under expected credit loss model ofHK$6,483,000, the gain on extinguishment of financial liabilities ofHK$27,474,000 and the effective cost control as shown in the reductionof administrative expenses. BUSINESS REVIEW(Continued) Dry Grinding and Dry Beneficiation Business 11,348,0005,598,000 During the year under review, the DGDB business progressed furtheralong its commercialization path, moving beyond the initial revenuephase to establish a stronger foundation for scalable growth. For the yearended 31 March 2025, the Group recorded a revenue of approximatelyHK$11,348,000 from its titanium dioxide distribution business in China,as compared to approximately HK$5,598,000 for the correspondingperiod of last year, representing the early-stage commercial deploymentof DGDB-related solutions. Building on this momentum, the Group aimsto accelerate revenue growth by advancing its commercialization strategyand deepening industry partnerships across the global resources sector. T o e n h a n c e i t s D G D B c a p a b i l i t i e s , t h e G r o u p h a s s