香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何 部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 CHINA SILVER GROUP LIMITED 中 國 白 銀 集 團 有 限 公司 （於開曼群島註冊成立的有限公司） 815 （股份代號： ） 截至二零二二年十二月三十一日止年度之 全年業績公告 二零二二年全年業績摘要 3,246.3 2,303.5 二零二二年的收入約為人民幣 百萬元（二零二一年：人民幣 百萬 40.9% 元），較二零二一年增加約 。 120.8 二零二二年，本公司擁有人應佔虧損約為人民幣 百萬元（二零二一年：人民 2,412.9 幣 百萬元）。同比顯著下降乃主要由於本集團製造業務分部主要附屬公司江 ...

中國白銀集團 CHINASILVERGROUP 中國白銀集團有限公司 China Silver Group Limited (於開曼群島註冊成立的有限公司) 股份代號：815 2021 中期報告 中國領先的全產業 白銀、黃金、윈金及貴金屬綜合企業 目錄 | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------------------------------|------------------------------|-------|-------| | | | | | | | | | | | | | | | | | | | | 目錄 | | | | | | | | 公司資料 財務摘要 | | | | | | | | | | | | | | | | 我們的里程碑 精選品牌與產品 | | | | | | | | 管理層討論與分析 | | | | | | | | 企業管治及其他資料 | | | | | | | | | 簡明綜合損益及其他全面收益表 | | | | | | | 簡明綜合財務狀況表 | | | | | | ...

Financial Performance - For the first half of 2020, the profit attributable to the owners of the company increased significantly by approximately 60.7% to about RMB 114.7 million compared to the same period in 2019[22]. - The overall gross profit for the group was approximately RMB 221.4 million, up about 10.9% from RMB 199.6 million in the first half of 2019, despite a decline in the gross profit from the jewelry retail segment[26]. - The company reported a profit of RMB 71,372,000 for the six months ended June 30, 2020, compared to a profit of RMB 114,661,000 for the same period in 2019, reflecting a decrease of approximately 37.7%[160]. - The net profit attributable to shareholders for the six months ended June 30, 2020, was RMB 114,661,000, compared to RMB 71,372,000 in 2019, marking an increase of about 60.5%[200]. - Basic and diluted earnings per share for the period were RMB 0.070, compared to RMB 0.044 in the same period last year[150]. Revenue Growth - The company's revenue for the first half of 2020 was approximately RMB 1,809.8 million, a significant increase of about 58.5% compared to RMB 1,141.9 million in the first half of 2019[59]. - Total revenue for the six months ended June 30, 2020, was RMB 1,809,845,000, a significant increase from RMB 1,141,923,000 in the same period of 2019, representing a growth of approximately 58.5%[192]. - Palladium sales surged to approximately RMB 1,352.0 million in the first half of 2020, a dramatic increase from RMB 15.5 million in the same period of 2019, reflecting a growth of about 8,600%[32]. - The manufacturing segment's sales surged to approximately RMB 1,568.3 million, up about 286.0% from RMB 406.2 million in the first half of 2019[32]. Segment Performance - The manufacturing segment's profit rose to approximately RMB 136.8 million in the first half of 2020, a substantial increase of about 145.0% from RMB 55.8 million in the first half of 2019[22]. - The jewelry retail segment's sales dropped significantly by approximately 69.5% to RMB 216.7 million in the first half of 2020, down from RMB 709.7 million in the same period of 2019, primarily due to the impact of COVID-19[36]. - The silver trading business recorded a segment profit of approximately RMB 19.0 million in the first half of 2020, an increase of about 73.6% compared to RMB 11.0 million in the same period of 2019[26]. - The jewelry new retail business reported a segment loss of RMB 16,282 thousand, highlighting challenges faced in this area during the reporting period[184]. Market Strategy - The company is actively developing new business opportunities in the palladium and other precious metals markets to adapt to economic uncertainties[23]. - The company aims to continue enhancing its product structure and increasing the proportion of precious metals in response to market changes[23]. - The company plans to increase its focus on high-margin silver and jewelry products to improve profit margins while expanding its offline retail network to increase market share in China[54]. - The company anticipates that over 90% of its manufacturing revenue in 2020 will come from silver, gold, and palladium products, reflecting a strategic shift towards precious metals[53]. Operational Challenges - The group’s operations were significantly impacted by the COVID-19 pandemic, leading to delays in resuming work and the termination of a land acquisition contract, which affected financial performance[174]. - The company has taken measures to ensure employee health and safety in response to government-imposed quarantine measures during the pandemic[174]. Shareholder Information - As of June 30, 2020, Chairman Chen Wan-tian holds 411,422,187 shares, representing approximately 25.28% of the company's equity[114]. - Major shareholders include Pandanus Associates Inc., Pandanus Partners L.P., and FIL Limited, each holding 129,998,000 shares, accounting for 7.99% of the company's equity[122]. - The company has a total of 73,200,000 shares available for issuance under the 2012 share option plan, which is about 4.50% of the total issued share capital as of June 30, 2020[129]. Cost Management - Selling and distribution expenses decreased by approximately 21.6% to about RMB 14.3 million, mainly due to reduced advertising and promotional spending during the pandemic[71]. - Administrative expenses fell by approximately 24.7% to about RMB 47.5 million, attributed to a reduction in average employee numbers[72]. Financial Position - As of June 30, 2020, the group's bank and other borrowings amounted to approximately RMB 167.5 million, an increase from RMB 110.0 million as of December 31, 2019[79]. - The net asset liability ratio as of June 30, 2020, was approximately -21.9%, improved from -14.0% as of December 31, 2019, indicating a net cash position[79]. - The group's cash and cash equivalents, net current assets, and total assets less current liabilities were approximately RMB 964.4 million, RMB 3,236.6 million, and RMB 3,584.5 million, respectively, as of June 30, 2020[87].

Financial Performance - The group's annual profit decreased to RMB 220 million, down from RMB 325 million in 2017, reflecting a decline of approximately 32.3%[19] - The group's revenue for the year ended December 31, 2018, was RMB 3,751 million, a decrease of approximately 31.4% compared to RMB 5,469 million in 2017[41] - In 2018, the company's total revenue was RMB 3,751.2 million, a decrease of approximately 31.2% from RMB 5,469.0 million in 2017[42] - Jewelry retail sales for the company were RMB 2,497 million in 2018, a decrease of approximately 29.1% from RMB 3,520 million in 2017, attributed to a shift in marketing strategy[44] - The silver trading business recorded sales of RMB 105 million in 2018, down about 34.8% from RMB 161 million in 2017, mainly due to waived membership fees and reduced commission income[45] - Gross profit for the year was RMB 596 million, a slight decrease of 1.3% from RMB 604 million in 2017, with an overall gross margin increase from 11% to 15.9%[49] - The company reported a profit attributable to owners of RMB 149 million for the year, down from RMB 286 million in 2017, mainly due to goodwill impairment and increased selling expenses[55] Sales and Revenue Breakdown - The overall sales of the subsidiary Jinmao Silver Cat Group reached RMB 2,497 million, accounting for approximately 66.6% of total revenue, an increase from 64.4% in 2017[18] - Silver bar sales dropped from RMB 790 million in 2017 to RMB 220 million in 2018, a decline of about 72.2% due to reduced sales volume[43] - The average selling price of silver bars was RMB 3.1 million per ton in 2018, down from RMB 3.4 million per ton in 2017[43] - The group recorded a contribution of RMB 105 million from its silver trading business in 2018, down from RMB 161 million in 2017, with a segment loss of RMB 10 million compared to a profit of RMB 119 million in 2017[35] Business Strategy and Expansion - The group plans to expand into hazardous waste treatment, with a projected capacity of 1 million tons[14] - The group plans to expand its hazardous waste treatment business, leveraging advanced recycling technology to become a leader in the environmental technology industry over the next three years[37] - The group aims to become China's leading comprehensive enterprise in the silver and precious metals industry[20] - The group has shifted its marketing strategy towards higher-margin silver jewelry products, resulting in improved profitability despite revenue declines[18] - The group continues to leverage its strong resources in upstream operations to support its downstream jewelry retail business[18] Market Conditions and Challenges - The group has faced challenges due to global market uncertainties and asset depreciation affecting its financial performance[19] - The group anticipates a rise in demand for precious metals due to heightened global risk aversion, maintaining confidence in the Chinese silver, precious metals, and jewelry retail markets[36] Operational Metrics - The manufacturing segment sold 67 tons of silver ingots and produced 258 tons for downstream use in 2018[21] - As of December 31, 2018, the self-operated online jewelry platform had over 9.7 million registered members, with total page views exceeding 850 million and unique visitors over 210 million[28] - The group operates 98 CSmall experience stores across 18 provinces and municipalities in China, including 15 self-operated and 83 franchised stores[31] - The group collaborates with 22 television and video shopping channels, reaching over 100 million households daily in China, significantly enhancing brand awareness[29] Financial Position and Liquidity - As of December 31, 2018, cash and cash equivalents amounted to RMB 541 million, down from RMB 712 million in 2017, while net current assets increased to RMB 2,621 million from RMB 2,077 million[61] - The company reported that sales to its top five customers accounted for 35.7% of total sales, down from 42.0% in the previous year[145] - The largest customer contributed 11.9% of total sales, a decrease from 27.2% in the prior year[145] - The company’s top five suppliers represented 48.3% of total purchases, down from 59.0% year-on-year[145] - The largest supplier accounted for 12.3% of total purchases, reduced from 29.8% in the previous year[145] - As of December 31, 2018, the company's bank borrowings amounted to RMB 60 million, down from RMB 110 million in 2017, with a net cash position and a net asset liability ratio of -14.4%[57] Corporate Governance - The board of directors consists of three executive directors and three independent non-executive directors as of the report date[74] - The company has complied with the corporate governance code except for the absence of four independent non-executive directors at the annual general meeting held on May 29, 2018[72] - The board held 11 meetings during the review year, approving the annual performance for the year ended December 31, 2017[78] - All independent non-executive directors have confirmed their independence according to the listing rules[80] - The company has a remuneration committee that provides recommendations on the remuneration of directors and senior management[84] - The company’s executive directors are responsible for formulating business strategies and development plans[75] - The board is responsible for ensuring effective corporate governance and continuously reviewing governance measures[77] Risk Management - The board has established a risk management team to assist in the continuous monitoring of the group's risk management and internal control systems[106] - The internal audit function was established this year to provide useful information and recommendations regarding the adequacy and effectiveness of the risk management and internal control systems[107] - The board and audit committee believe that the group's risk management and internal control systems are adequate and effective as of December 31, 2018[111] - The risk management and internal control systems aim to manage rather than eliminate risks associated with achieving business objectives[109] Employee and Stakeholder Relations - The company recognizes employees as its most valuable asset and aims to provide competitive compensation and development opportunities[138] - The company ensures adequate training and professional development opportunities for all employees to meet their career development needs[60] - The company maintains strong relationships with key stakeholders, including customers, suppliers, and shareholders, to enhance long-term business interests[140] Shareholder Information - The company did not recommend a final dividend for the year ended December 31, 2018, compared to a dividend of HKD 0.03 per share in 2017[64] - The company has adopted a dividend policy without a predetermined payout ratio, allowing the board to propose dividends based on financial conditions[127] - As of December 31, 2018, the company had reserves available for distribution to shareholders amounting to RMB 1,040,288,000, compared to RMB 1,064,074,000 in 2017[148] Legal and Compliance - The company has established compliance and risk management policies to monitor adherence to significant legal and regulatory requirements[136] - The company has not entered into any equity-linked agreements that would lead to the issuance of shares as of December 31, 2018[195] - The company has provided indemnity provisions for directors against liabilities incurred in the execution of their duties[199]