CDH 中發展控股有限公司 Central Development Holdings Limited Incorporated in the Cayman Islands with limited liability Stock Code : 00475 INTERIM REPORT 2022/23 INTERIM REPORT 2022/23 中 期 報 告 於開曼群島註冊成立的有限公司 股份代號：00475 中期報告 2022/23 目錄 公司資料 2 | --- | |------------------------------| | | | | | 管理層討論及分析 | | 企業管治及其他資料 | | 簡明綜合財務報表審閱報告 | | 簡明綜合損益及其他全面收益表 | | 簡明綜合財務狀況表 | | 簡明綜合權益變動表 | | 簡明綜合現金流量表 | | 簡明綜合財務報表附註 | 3 14 20 21 22 24 25 26 公司資料 | --- | --- | |--------------------------------------------------------|------------ ...

Financial Performance - Total revenue for the fiscal year increased by approximately 243.5% to about HKD 193.1 million compared to the previous year[6] - Energy business revenue rose by 354.1% to approximately HKD 174.5 million, up from HKD 38.4 million in the previous year[11] - Sales revenue from refined oil and liquefied natural gas products in the energy business increased from approximately HKD 0.2 million to about HKD 174.0 million[12] - Gross profit for the fiscal year increased by approximately 276.6%[6] - The company reported a loss attributable to owners of the company of approximately HKD 14.0 million for the fiscal year[6] - The company's revenue for the year was approximately HKD 193.1 million, an increase of about 243.5% compared to the previous year's HKD 56.2 million, driven by growth in both energy and jewelry businesses[35] - Energy business revenue rose from approximately HKD 38.4 million to about HKD 174.5 million, marking an increase of approximately 354.1%, primarily due to higher sales of refined oil and liquefied natural gas[35] - Jewelry business revenue slightly increased by about 4.8% from approximately HKD 17.8 million to HKD 18.7 million, supported by recovering consumer sentiment in China and Hong Kong[35] Business Strategy and Development - The company aims to enhance the long-term development potential of its natural gas business and actively seek new investment opportunities[7] - The company plans to focus on the development of refueling stations and distributed energy projects in the upcoming year[7] - The company plans to explore more investment opportunities in the energy sector, particularly in natural gas and related businesses, to enhance long-term development potential[26] - Strategic partnerships have been established with leading companies in the energy sector to explore potential energy projects, including decentralized photovoltaic power stations and charging stations[27] - The company aims to leverage its resources in energy storage and distribution to expand into diversified energy products and solutions across the country[30] Market Trends and Demand - The demand for jewelry products is gradually recovering, with several large international jewelry exhibitions resuming in Hong Kong and mainland China[7] - The company anticipates that natural gas demand in China will grow, with projected apparent consumption reaching 450 billion cubic meters by the end of the 14th Five-Year Plan[23] - The company is optimistic about the growth opportunities in China's downstream gas industry, driven by government initiatives to promote gas usage[23] - The Chinese natural gas apparent consumption reached 372.6 billion cubic meters in 2021, a 12.7% increase from 2020[12] - In 2021, China's refined oil consumption increased by 3.2% compared to 2020, indicating sustained demand for traditional fossil fuels[14] - As of December 2021, the total number of motor vehicles in China reached 395 million, with an increase of 23.5 million vehicles from the end of 2020, highlighting the ongoing reliance on fuel vehicles[14] Operational Performance - The company's sales cost for the year was approximately HKD 184.9 million, an increase of about 242.2% from the previous year's HKD 54.0 million[36] - Gross profit increased from approximately HKD 2.2 million to about HKD 8.2 million, representing a growth of approximately 276.6%[36] - Gross margin improved from 3.9% in the previous year to 4.3% in the current year, attributed to an expanded product mix in the energy business[36] - Other income rose from approximately HKD 5.3 million to about HKD 6.3 million, an increase of approximately 18.3%, mainly from rental income of investment properties[37] - The group recorded a net other income of approximately HKD 7.6 million for the year, compared to HKD 4.1 million in the previous year, primarily from fair value changes in investment properties of approximately HKD 7.2 million[39] Financial Position and Assets - As of March 31, 2022, the group’s current assets net value and current ratio were approximately HKD 28.7 million and 1.8, respectively, compared to HKD 22.7 million and 1.5 in the previous year[52] - The group’s total assets and total liabilities as of March 31, 2022, were approximately HKD 242.0 million and HKD 187.1 million, respectively, with a debt ratio of approximately 77.3%[60] - The group’s bank borrowings amounted to approximately HKD 24.2 million, with a debt-to-equity ratio of approximately 44.0%[56] - The group’s cash and bank balances were approximately HKD 20.1 million, down from HKD 37.3 million in the previous year[54] - The company’s assets, including buildings and investment properties, were mortgaged to secure bank borrowings of approximately HKD 24.2 million[62] Governance and Compliance - The company has adopted the new corporate governance code effective from April 1, 2022, aligning with the Stock Exchange's listing rules[83] - The board consists of seven members, including three executive directors and three independent non-executive directors, maintaining compliance with the listing rules[88] - The independent non-executive directors have confirmed their independence according to the guidelines set out in the listing rules[91] - The company has established a robust internal control and risk management system to ensure effective oversight of management performance[87] - The company has implemented a standard code for securities trading by directors, ensuring adherence to regulations throughout the year[86] Risk Management - The company has established a risk management framework that includes risk identification, analysis, monitoring, and reporting processes[147] - The internal audit team conducted a review of the internal control system covering transactions from April 1, 2021, to March 31, 2022, and corrective measures were taken for identified deficiencies[153] - The management team is responsible for identifying and monitoring strategic, operational, financial, reporting, and compliance risks on a daily basis[145] - The audit committee is tasked with overseeing the risk management and internal control systems and providing advice to the board[143] - The company has confirmed that there are no significant uncertainties that may cast doubt on its ability to continue as a going concern[140] Human Resources and Talent Management - The group is committed to providing competitive compensation and benefits to attract and retain key talent[176] - The group regularly reviews employee compensation in line with market standards[179] - The company had 66 employees as of March 31, 2022, an increase from 39 employees in the previous year[66] - The group acknowledges the importance of human resources planning to maintain operational quality and support business development needs[176] Shareholder Relations - The company has adopted a shareholder communication policy to ensure shareholders can exercise their rights and receive timely information[155] - The company encourages shareholders to submit suggestions for discussion at shareholder meetings, ensuring active communication[159] - The company has established a website to maintain good investor relations and provide information to shareholders and potential investors[162] - The company has a structured process for shareholders to propose candidates for the board, ensuring transparency and adherence to listing rules[160]

於開曼群島註冊成立的有限公司 股份代號：00475 中期報 告 2021/22 目錄 | 公司資料 | 2 | | --- | --- | | 管理層討論及分析 | 3 | | 企業管治及其他資料 | 13 | | 簡明綜合財務報表審閱報告 | 20 | | 簡明綜合損益及其他全面收益表 | 21 | | 簡明綜合財務狀況表 | 22 | | 簡明綜合權益變動表 | 23 | | 簡明綜合現金流量表 | 24 | | 簡明綜合財務報表附註 | 25 | 李維棋先生 獨立非執行董事 靳慶軍先生 孫橦女士 鍾穎洁女士 審核委員會 公司資料 鍾穎洁女士 （主席） 靳慶軍先生 孫橦女士 薪酬委員會 董事會 執行董事 吳浩先生 （主席） 胡楊俊先生 陳永源先生 （行政總裁） 非執行董事 總辦事處及香港主要營業地點 香港 灣仔 告士打道178號 華懋世紀廣場22樓2202室 註冊辦事處 Cricket Square Hutchins Drive P.O. BOX 2681 Grand Cayman KY1-1111 Cayman Islands 主要股份過戶登記處 Suntera (Cayman) Limited Sui ...

Financial Performance - Total revenue decreased by approximately 49.2% to about HKD 56.2 million compared to the previous year[18] - Gross profit declined by approximately 43.2% during the same period[18] - Loss attributable to owners of the company was approximately HKD 24.6 million[18] - Revenue from the energy business fell by about 52.9% to approximately HKD 38.4 million[23] - Revenue from solar-related products and consulting services dropped by approximately 53.1% to about HKD 38.2 million[23] - Revenue from the jewelry business decreased by approximately 38.9% year-on-year, from about HKD 29.2 million to approximately HKD 17.8 million due to declining sales in Hong Kong and China[32] - The group's revenue for the year was approximately HKD 56.2 million, a decrease of about 49.2% from HKD 110.6 million in the previous year, primarily due to declines in energy and jewelry product sales[42] - Revenue from the energy business was approximately HKD 38.4 million, down about 53.1% from HKD 81.5 million in the previous year, attributed to reduced sales orders for solar intelligent technology products due to the global COVID-19 outbreak and ongoing trade tensions between China and the U.S.[42] - The jewelry business revenue decreased by approximately 38.9% to HKD 17.8 million from HKD 29.2 million in the previous year, impacted by weakened consumer spending and reduced opportunities to meet potential buyers due to COVID-19 restrictions[42] Cost Management - The company has implemented effective cost control measures to mitigate the impact of the pandemic on its operations[18] - The group's sales cost for the year was approximately HKD 54.0 million, a reduction of about 49.4% from HKD 106.8 million in the previous year[45] - Selling and distribution costs decreased by approximately 64.9% from about HKD 6.2 million to about HKD 2.2 million, mainly due to reduced marketing activities amid COVID-19[51] - Administrative expenses decreased by approximately 18.7% from about HKD 25.1 million to about HKD 20.4 million, influenced by cost control measures[52] Business Strategy and Market Outlook - The company expects ongoing challenges for the remainder of 2021 but anticipates new opportunities from the acquisition of gas stations[19] - The company will continue to adjust its business scale, strategies, and costs to navigate current market conditions[19] - The sales team has adjusted business strategies to ensure growth while managing risks, particularly in Southeast Asia[24] - The company continues to leverage its patented technology to develop customized solar module smart technology products and micro DC inverters, aiming for greater revenue in the second half of the year[26] - The group plans to acquire gas stations to utilize their rooftop space for distributed solar photovoltaic power generation, aiming to expand market share and revenue from solar products[40] - The group anticipates steady growth in clean energy demand, particularly in emerging markets like Southeast Asia, despite potential negative impacts from ongoing global pandemic conditions and rising raw material prices[36] - The company is actively seeking to expand its sales channels into e-commerce to diversify revenue sources amid challenges posed by the COVID-19 pandemic[33] Corporate Governance - The company emphasizes strong corporate governance practices, focusing on effective internal controls and board accountability[93] - The company has adopted the corporate governance code as per the listing rules and has complied with all applicable provisions during the fiscal year ending March 31, 2021[94] - The board consists of seven directors, including three executive directors and three independent non-executive directors, ensuring compliance with listing rules[97] - The independent non-executive directors bring significant experience from various sectors, enhancing the board's oversight capabilities[88] - The company has established a comprehensive internal control and risk management system to safeguard shareholder interests[96] - The audit committee consists of three independent non-executive directors, with the chairman having experience in financial auditing[115] - The audit committee reviews financial statements and assesses the effectiveness of the group's financial reporting procedures and internal control systems[115] Risk Management - The company has established a risk management framework that includes risk identification, analysis, monitoring, and reporting processes[150] - The audit committee is responsible for overseeing the risk management and internal control systems, providing advice and support to the board on risk-related matters[145] - The management team is tasked with identifying and continuously monitoring strategic, operational, financial, reporting, and compliance risks in daily operations[148] - The board acknowledges economic downturn risks due to global instability, trade conflicts, and the pandemic, which may impact product demand and profitability[177] - Regulatory risks are highlighted, with increasing government requirements for energy conservation that could affect operations and costs[178] - The company faces technology risks, as future success relies on proprietary technologies that competitors may replicate[179] - Human resource risks are noted, emphasizing the need to attract and retain skilled personnel to maintain competitive advantage[180] - Financial risks are present, with management policies outlined in the financial statements[181] Shareholder Relations - The company ensures equal treatment of all shareholders and provides them with the necessary information to exercise their rights[161] - Shareholders can propose suggestions regarding the company's operations, strategies, or management for discussion at the general meeting[164] - The company encourages direct communication with shareholders and provides a designated address for inquiries[166] - The company reported a significant focus on investor relations, maintaining communication through annual meetings and online platforms[167] Asset Management - The company has optimized its asset utilization by leasing unused capacity from its Yuyao factory, generating stable rental income since June 1, 2019, for a period of 90 months[28] - Other income increased by approximately 63.6% from about HKD 3.2 million to about HKD 5.3 million, mainly from rental income of investment properties and government subsidies received[46] - The group recorded a net other income of approximately HKD 4.1 million, compared to a net loss of approximately HKD 6.6 million in the previous year, primarily due to a fair value gain of approximately HKD 1.3 million from investment properties[47] Employment and Human Resources - The group employed 39 staff as of March 31, 2021, down from 67 in the previous year, with competitive salaries and performance-based bonuses[70] Future Plans - The company aims to become a leading provider of integrated clean energy products and solutions by exploring development models that combine energy storage and various clean energy sources[35] - The company plans to reappoint Deloitte as its external auditor after reviewing their independence and objectivity[121] - The nomination committee will review the board's structure and diversity policies at least once a year[128]

CDH 中發展控股有限公司 Collings Limital Development Holdings Limited 於開曼群島註冊成立的有限公司 股份代號：00475 中期報 告 2020/21 目 錄 公司資料 2 管理層討論及分析 3 企業管治及其他資料 13 簡明綜合財務報表審閱報告 19 簡明綜合損益及其他全面收益表 20 簡明綜合財務狀況表 21 簡明綜合權益變動表 22 簡明綜合現金流量表 23 簡明綜合財務報表附註 24 8 8 8 8 . . . . . . . . . . or E E F E B E r and and the man 第一次 - 8 re .. . . . . . · . r . a = 1 : _ 0.0 . 03 en a con or and 00 10 DS IND W . i . 公司資料 | --- | --- | |------------------------------------------------------|------------------------------------------------------------| | | ...

CDH 中發展控股有限公司 Coldings Limited 於開曼群島註冊成立的有限公司 股份代號：00475 年 報 2019/20 | --- | --- | |------------------|--------------------------| | 目錄 | | | 公司資料 | | | 主席報告 | | | 管理層討論及分析 | | | 董事及公司秘書 | | | 企業管治報告 | | | 董事會報告 | | | 獨立核數師報告 | | | | 綜合損益及其他全面收益表 | | 綜合財務狀況表 | | | 綜合權益變動表 | | | 綜合現金流量表 | | | 綜合財務報表附註 | | | 五年財務概要 | | 2 3 4 14 17 32 44 50 51 53 54 56 132 1 中發展控股有限公司 公司資料 | --- | --- | |---------------------|--------------| | | | | 董事會 | | | 執行董事 | | | 吳浩先生 （主席） | | | 胡楊俊先生 | | | 陳永源先生 | （行政總裁） | | 非執行董事 | | ...

CDH 中發展控股有限公司 Collings Limital Development Holdings Limited 於開曼群島註冊成立的有限公司 股份代號：00475 中 期 報 2019/20 音 | --- | --- | |------------------------------|-------| | | | | | | | 目錄 | | | | | | 公司資料 | | | 管理層討論及分析 | | | 企業管治及其他資料 | | | 簡明綜合財務報表審閱報告 | | | 簡明綜合損益及其他全面收益表 | | | 簡明綜合財務狀況表 | | | 簡明綜合權益變動表 | | | 簡明綜合現金流量表 | | | 簡明綜合財務報表附註 | | 2 3 12 19 20 22 24 25 26 公司資料 | --- | --- | |----------------------------|-------------------------------------------------------------| | | | | 董事會 | 註冊辦事處 | | 執行董事 | Cricket Squar ...

中 發 展 控 股 有 限 公 司 ZHONG FA ZHAN HOLDINGS LIMITED 於開曼群島註冊成立的有限公司 股份代號 : 00475 2018/19年報 目錄 | --- | --- | |--------------------------|-------| | | | | 公司資料 | | | 主席報告 | | | 管理層討論及分析 | | | 董事及公司秘書 | | | 企業管治報告 | | | 董事會報告 | | | 獨立核數師報告 | | | 綜合損益及其他全面收益表 | | | 綜合財務狀況表 | | | 綜合權益變動表 | | | 綜合現金流量表 | | | 綜合財務報表附註 | | | 五年財務概要 | | 1 中發展控股有限公司 公司 資料 | --- | --- | |------------------------------------------------------------|-------------------------------------------------------------| | 董事會 | 註冊辦事處 | | 執行董事 | Cric ...