CHINA KANGDA FOOD COMPANY LIMITED （於百慕達註冊成立之有限公司） 香港股票代碼 : 834 新加坡股份代碼 : P74 年報 2024 Annual Report 2024 提供安全和健康的生活方式 全產業鏈 CHINA KANGDA FOOD COMPANY LIMITED (incorporated in Bermuda with limited liability) Singapore stock code : P74 Hong Kong stock code : 834 Provide Safe and Healthy Lifestyle The Whole Industry Chain C HINA KANGDA FOOD COMPANY LIMITED 中國康大食品有限公司 Annual Report 年報 2024 公司簡介 中國康大食品有限公司（「本公司」，連同其附屬公司統稱「本集團」）於一九九二年成立，為中華人民共和國（「中國」）多元 化食品製造及加工集團，主要從事生產、加工、銷售及分銷： a) 加工食品，包括多種食品，如即食湯類、咖喱食品、肉雞熟食、烤兔肉 ...

CHINA KANGDA FOOD COMPANY LIMITED 中國康大食品有限公 司 （於百慕達註冊成立的有限公司） （香港股份代號（第一上市）：834） （新加坡股份代號（第二上市）：P74） 截至二零二四年十二月三十一日止年度之末期業績公告 中國康大食品有限公司（「本公司」）之董事（「董事」）會（「董事會」）欣然宣佈本 公司及其附屬公司（統稱「本集團」）截至二零二四年十二月三十一日止年度之 經審核綜合業績以及去年之比較數字如下： 綜合全面收益表 截至二零二四年十二月三十一日止年度 香港交易及結算所有限公司、香港聯合交易所有限公司以及新加坡證券交易 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倚賴該等內 容而引致的任何損失承擔任何責任。 人民幣千元 | | | 二零二四年 | 二零二三年 | | --- | --- | --- | --- | | | 附註 | 人民幣千元 | 人民幣千元 | | 收益 | 5 | 1,650,509 | 1,657,308 | | 銷售成本 | | (1,576,546) | (1,562 ...

Financial Performance - The company reported a loss attributable to owners of approximately RMB 20.3 million for the first half of 2024, compared to a loss of RMB 6.5 million in the same period of 2023, representing an increase of 215%[7]. - Revenue decreased by 2.8% to approximately RMB 768.8 million in the first half of 2024, down from RMB 790.6 million in the first half of 2023[7]. - The gross profit margin fell from 6.0% in the first half of 2023 to 2.7% in the first half of 2024 due to a decline in product selling prices[7]. - The overall gross profit margin decreased from 6.0% in the first half of 2023 to 2.7% in the first half of 2024, a decline of 3.3 percentage points[17]. - The gross profit margin for chilled and frozen chicken turned negative at -4.9% in the first half of 2024 due to price reductions to maintain market competitiveness[19]. - The company recorded a tax credit of RMB 0.3 million for the first half of 2024, benefiting from deferred tax credits due to certain subsidiaries engaging in qualifying agricultural activities[25]. - The company reported a total comprehensive loss of RMB 6,352 for the six months ended June 30, 2024, compared to a total comprehensive loss of RMB 6,623 for the same period in 2023[56]. - The reported loss before tax for the six months ended June 30, 2024, was RMB 20,056, compared to a loss of RMB 6,556 for the same period in 2023, indicating a significant increase in losses[62]. - Basic and diluted loss per share for the period was RMB (4.6), compared to RMB (1.5) in the same period last year[50]. Revenue Breakdown - Revenue from processed foods decreased by 8.6% to approximately RMB 354.6 million, primarily due to a decrease in export sales driven by lower international trade demand[10]. - Revenue from chilled and frozen chicken products increased by 10.2% to RMB 320.0 million, contributing 41.6% of total revenue[10]. - Revenue from chilled and frozen rabbit meat products decreased by 20.9% to RMB 79.6 million, contributing 10.4% of total revenue[10]. - Revenue from other products, including pet food and feed products, increased by RMB 2.9 million to RMB 14.5 million, representing a growth of 24.6% due to higher unit prices[15]. - The company’s revenue from the processed food segment for the six months ended June 30, 2024, was RMB 354,598, while the cold and frozen chicken segment generated RMB 320,010[61]. - The company's revenue from product sales for the six months ended June 30, 2024, was RMB 768,771,000, a decrease of 2.1% compared to RMB 790,603,000 for the same period in 2023[19]. Cost and Expenses - Selling and distribution expenses increased by RMB 2.5 million to approximately RMB 25.5 million, mainly due to higher advertising and promotional costs[23]. - Other income decreased by RMB 13.0 million to RMB 4.0 million in the first half of 2024, primarily due to a decline in chicken prices affecting fair value changes of biological assets[22]. - The total employee cost for the review period was approximately RMB 76.2 million, a decrease from RMB 81.4 million for the six months ended June 30, 2023[33]. - The company's administrative expenses decreased to RMB 15,572 for the six months ended June 30, 2024, from RMB 34,388 for the same period in 2023, a reduction of 54.7%[62]. - Total employee costs decreased to RMB 76,196,000 from RMB 81,448,000, reflecting a reduction of 6.5% year-over-year[64]. - Financing costs decreased to RMB 2,951,000 from RMB 6,940,000, a significant reduction of 57.5% compared to the previous year[65]. Assets and Liabilities - As of June 30, 2024, the company's net asset value was approximately RMB 533.6 million, a decrease from RMB 553.6 million as of December 31, 2023[27]. - Total current assets increased to approximately RMB 942.5 million from RMB 906.9 million as of December 31, 2023, with cash and bank balances at RMB 302.5 million[27]. - Trade receivables increased by RMB 48.0 million to approximately RMB 140.0 million, primarily due to higher sales in Q2 2024 compared to Q4 2023[26]. - Trade payables and notes increased by RMB 55.1 million to approximately RMB 469.1 million, primarily due to the issuance of more notes to settle payments with suppliers[26]. - The company's equity attributable to owners decreased to RMB 533,569 thousand from RMB 553,600 thousand, indicating a decline in shareholder value[53]. - Current liabilities increased to RMB 961,108 thousand from RMB 907,115 thousand, reflecting a rise in trade payables and bank borrowings[52]. - Non-current liabilities totaled RMB 136,889 thousand, up from RMB 121,412 thousand at the end of the previous year[53]. Strategic Initiatives - The company plans to increase investment in new product development, focusing on high-value-added processed foods to enhance competitiveness and market resilience[8]. - The company aims to optimize its product mix, strengthen cost management, and expand new sales channels to improve overall performance[8]. - The external environment for the consumer industry remains complex, with challenges from trade protectionism and global economic downturns impacting business operations[9]. Shareholder and Corporate Actions - The group did not declare any interim dividend for the first half of 2024, consistent with the previous year[34]. - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2024, nor for the six months ended June 30, 2023[43]. - The group had no significant investments, acquisitions, or disposals during the six months ended June 30, 2024[35]. - On June 25, 2024, the company entered into a placement agreement to issue up to 86,589,600 shares at a placement price of HKD 0.25 per share, with gross proceeds of HKD 5.0 million expected[49]. - The net proceeds from the placement, after deducting related fees, are approximately HKD 4.9 million, intended for general working capital to strengthen the company's financial position[49]. - A framework agreement was established on July 31, 2024, with Qingdao Kangda Holding Group for product mutual supply, effective from August 1, 2024, to December 31, 2026[49]. - A lease agreement was signed on July 31, 2024, for property located in Qingdao, effective from August 1, 2024, to December 31, 2026[49]. Related Party Transactions - Sales to related parties for the six months ended June 30, 2024, were RMB 2.594 million, down from RMB 9.704 million in the same period of 2023, indicating a decline of 73%[78]. - Purchases from related parties for the same period were RMB 1.537 million, a decrease from RMB 12.405 million in 2023, reflecting a decline of 88%[78]. - Rental income from related parties was RMB 1.625 million for the six months ended June 30, 2024, compared to RMB 1.176 million in 2023, showing an increase of 38%[78]. - The company received guarantees for bank loans from related parties amounting to RMB 768.335 million, up from RMB 557 million in the previous year, representing an increase of 38%[78]. - The total remuneration for key management personnel was RMB 556 thousand, a significant decrease from RMB 6.306 million in the previous year, indicating a decline of 91%[78]. - The company continues to engage in transactions with related parties as part of its regular business operations, adhering to the terms negotiated with those parties[79].

香港交易及結算所有限公司、香港聯合交易所有限公司及新加坡證券交易所有限公 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倚賴該等內容而引致的任何損失 承擔任何責任。 CHINA KANGDA FOOD COMPANY LIMITED 中國康大食品有限公 司 （於百慕達註冊成立的有限公司） （香港股份代號（第一上市）：834） （新加坡股份代號（第二上市）：P74） 截至二零二四年六月三十日止六個月的 未經審核中期業績公告 中國康大食品有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈本公司及其附屬 公司（統稱「本集團」）截至二零二四年六月三十日止六個月的未經審核簡明綜合中期 業績連同二零二三年同期的比較數字載列如下。 簡明綜合損益及其他全面收益表 截至二零二四年六月三十日止六個月 截至六月三十日止六個月 | --- | --- | --- | --- | |------------------------------------|-------|---------------------------|---------------- ...

香港交易及結算所有限公司、香港聯合交易所有限公司以及新加坡證券交易所有限 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倚賴該等內容而引致的任何損 失承擔任何責任。 CHINA KANGDA FOOD COMPANY LIMITED 中國康大食品有限公 司 （於百慕達註冊成立的有限公司） （香港股份代號（第一上市）：834） （新加坡股份代號（第二上市）：P74） 有關截至二零二三年十二月三十一日止年度之 年度業績及年報之補充公告 根據本公司提供的文件及資料，核數師對本集團持續經營的能力表示擔憂，有關能 力將取決於本集團產生足夠融資及經營現金流量的能力。於本公司提交核數師要求 的所有文件及資料後，核數師僅於二零二四年三月二十六日向本公司發出第一份不 發表意見草案。鑒於上市規則規定本公司須於三月底前刊發該公告，故本公司於刊 發該公告前並無充足時間討論核數師的意見及減輕其疑慮。 管理層對不發表意見之意見 基於下列理由，本公司管理層不同意核數師的意見： 2 (a) 董事已編製自批准該等綜合財務報表之日起計12個月期間的現金流量預測。在 評估本集 ...

Financial Performance - In the fiscal year 2023, the company reported a revenue of RMB 1,657.3 million, a decrease of 5.07% from RMB 1,745.8 million in fiscal year 2022[9]. - The gross profit for fiscal year 2023 was RMB 95.1 million, down 21.7% from RMB 121.5 million in fiscal year 2022[9]. - The net loss attributable to shareholders was RMB 8.4 million, an improvement of 45.8% compared to a loss of RMB 15.4 million in fiscal year 2022[21]. - The basic loss per share for fiscal year 2023 was RMB 1.9, compared to RMB 3.6 in fiscal year 2022[9]. - The company experienced a decrease in other income by RMB 29.5 million due to a decline in fair value changes of biological assets[21]. - The company reported a loss attributable to owners of approximately RMB 84 million for the fiscal year 2023, a decrease of RMB 70 million or 45.8% compared to a loss of RMB 154 million in fiscal year 2022[40]. - Revenue decreased by 5.1% from approximately RMB 1,745.8 million in fiscal year 2022 to approximately RMB 1,657.3 million in fiscal year 2023[40]. - The overall gross profit margin declined from 7.0% in fiscal year 2022 to 5.7% in fiscal year 2023[50]. - The company reported a significant increase in user data, with a growth rate of over 20% year-on-year in the last quarter[30]. Revenue Breakdown - Revenue from processed food increased by 8.0% to approximately RMB 797.6 million, driven by new product development and customer acquisition[45]. - Revenue from chilled and frozen chicken rose by 7.5% to approximately RMB 643.7 million, supported by increased market demand and expanded production capacity[46]. - Revenue from chilled and frozen rabbit meat increased by 17.4% to approximately RMB 188.0 million, fueled by growing overseas demand[47]. - Revenue from other products decreased by 88.7% to RMB 28.1 million due to a strategic reduction in pet food production and sales[48]. - Revenue from China increased by 2.6% to RMB 1,220.2 million, contributing 73.6% of total revenue, while export revenue decreased by 21.5% to RMB 437.1 million[49]. Strategic Initiatives - The company aims to increase investment in new product development, focusing on high value-added processed foods to enhance competitiveness[23]. - The company plans to optimize its product mix and strengthen cost management to improve overall performance[23]. - The company will continue to strengthen its core capabilities and expand new sales channels to enhance overall performance[23]. - Future outlook indicates a projected revenue growth of 15% for the upcoming fiscal year, driven by new product launches and market expansion strategies[36]. - The company is investing in R&D for new technologies, with a budget allocation of approximately $5 million for the next fiscal year[36]. - Market expansion plans include entering three new regional markets by the end of 2024, aiming for a 10% market share in each[36]. - The company is considering strategic acquisitions to enhance its product portfolio, targeting companies with annual revenues between $10 million and $50 million[36]. Operational Efficiency - The company reported a 25% increase in production efficiency due to recent technological upgrades[30]. - The gross margin for refrigerated and frozen rabbit meat increased from 7.2% in the fiscal year 2022 to 10.6% in the fiscal year 2023, attributed to higher overseas sales prices[53]. - The gross margin for other products, mainly pet food and by-products of chicken and rabbit meat, decreased from 13.0% in the fiscal year 2022 to 5.5% in the fiscal year 2023 due to a decline in pet food sales volume[54]. Financial Outlook - The financial outlook includes a guidance of $100 million in net profit for the upcoming year, representing a 20% increase from the previous year[36]. - The company plans to enhance its digital marketing efforts, with a budget increase of 15% to improve customer engagement[36]. Governance and Management - The company appointed Ms. Lang Ying as the Executive Director and CEO on January 26, 2024, bringing 10 years of financial management experience[28]. - The board of directors has undergone significant changes, with multiple resignations and appointments occurring between July 2023 and January 2024[91]. - The company emphasizes compliance with international financial reporting standards to ensure accurate financial statements reflecting its condition[92]. - The chairman and CEO roles are held by the same individual, Mr. Fang Yu, who has extensive experience in the financial industry, providing strong leadership for the company[94]. - The board has established various committees to enhance internal controls and effectively monitor the company's operations[94]. Risk Management - The company has maintained a robust risk management and internal control system, which is continuously reviewed[186]. - The board is responsible for assessing and determining the nature and extent of risks the group is willing to take to achieve its strategic objectives[134]. - The group engaged external consultants to perform internal audit functions to ensure the effectiveness and efficiency of its risk management and internal control systems[135]. Shareholder Communication - The company has established a shareholder communication policy to ensure effective communication with shareholders and encourage their participation in meetings[187]. - The company encourages shareholder participation in annual meetings, where board members will address questions[155]. - The board has reviewed the effectiveness of the shareholder communication policy, which is deemed effective due to good communication with shareholders in the past[155]. Employee and Board Composition - The company has a gender ratio of approximately 49.3% male to 50.7% female among its employees as of December 31, 2023[145]. - The company has maintained a diverse board composition, balancing skills, experience, and knowledge necessary for effective decision-making[167]. - The nomination committee will continue to review the effectiveness of the board's diversity policy and seek suitable candidates to ensure diversity, including gender diversity[167].

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 分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 CHINA KANGDA FOOD COMPANY LIMITED 中國康大食品有限公 司 1 | | | 二零二三年 | 二零二二年 | | --- | --- | --- | --- | | | 附註 | 人民幣千元 | 人民幣千元 | | 除稅前虧損 | 6 | (8,313) | (14,687) | | 所得稅抵免╱（開支） | 8 | 270 | (412) | | 本年度虧損 | | (8,043) | (15,099) | | 其他全面收益 | | | | | 其後可能重新分類為損益的項目： | | | | | 換算海外業務產生的匯兌差額 | | (79) | (582) | | 本年度其他全面收益 | | (79) | (582) | | 本年度全面收益總額 | | (8,122) | (15,681) | | 以下應佔本年度虧損： | | | | | 本公司擁有人 | | (8,353 ...

Financial Performance - For the six months ended June 30, 2023, the company reported a loss attributable to owners of approximately RMB 65 million, consistent with the loss of RMB 65 million for the same period in 2022[10]. - Revenue decreased by 2.3% from approximately RMB 809 million in the first half of 2022 to approximately RMB 791 million in the first half of 2023[10]. - For the six months ended June 30, 2023, total revenue decreased by 2.3% to RMB 790.6 million compared to RMB 809.0 million in the same period of 2022[21]. - Revenue for the six months ended June 30, 2023, was RMB 790,603 thousand, a decrease of 2.5% compared to RMB 809,010 thousand in the same period of 2022[66]. - The company reported a basic and diluted loss per share of RMB 1.5, unchanged from the previous year[66]. - The total comprehensive income for the period ended June 30, 2023, was a loss of RMB 6,623 thousand, compared to a loss of RMB 6,816 thousand for the same period in 2022[71]. Revenue Breakdown - Revenue from processed food increased by 14.1% to approximately RMB 387.9 million, contributing 49.1% of total revenue[14]. - Revenue from chilled and frozen chicken increased by 10.3% to approximately RMB 290.3 million, driven by increased market demand and higher chicken prices[16]. - Revenue from chilled and frozen rabbit meat surged by 31.2% to approximately RMB 100.7 million, reflecting a focus on processing to meet growing overseas market demand[19]. - Revenue from other products decreased significantly by 91.0% to RMB 11.7 million due to rising raw material prices and a reduction in production[20]. Cost and Profitability - Gross margin improved from 3.8% in the first half of 2022 to 6.0% in the first half of 2023 due to an increase in product selling prices[10]. - Overall gross profit increased by 55.6% to RMB 47.4 million, with gross margin rising from 3.8% to 6.0%[23]. - The gross margin for processed food decreased by 1.9 percentage points to 9.7% due to growth in low-margin domestic sales[24]. - The gross margin for frozen rabbit meat increased from 3.7% to 8.9%, benefiting from reduced transportation costs and a focus on processed rabbit meat[26]. - The cost of goods sold for the six months ended June 30, 2023, was RMB 647,819,000, down from RMB 677,029,000 in the same period of 2022[86]. Expenses and Liabilities - Selling and distribution expenses increased by RMB 5.8 million to approximately RMB 23.0 million, driven by higher advertising and promotional costs[29]. - Total administrative expenses increased to RMB 34,388,000 for the six months ended June 30, 2023, compared to RMB 31,148,000 in the same period of 2022[84]. - The company's total liabilities increased to approximately RMB 474.4 million as of June 30, 2023, compared to RMB 428.2 million as of December 31, 2022, reflecting a rise of about 10.5%[43]. - Current liabilities increased to RMB 889,022 thousand from RMB 713,173 thousand at the end of 2022, indicating a rise in short-term financial obligations[70]. Assets and Cash Flow - As of June 30, 2023, total property, plant, and equipment decreased by 13.7% to approximately RMB 288.6 million[34]. - The company's cash and cash equivalents increased to approximately RMB 215.5 million, up from RMB 197.9 million as of December 31, 2022, representing a growth of about 8.1%[42]. - The company reported an increase in cash and cash equivalents to RMB 215,476 thousand as of June 30, 2023, up from RMB 152,495 thousand at the end of June 2022, representing an increase of approximately 41.3%[73]. - The net cash generated from operating activities was RMB 172,915 thousand, compared to a net cash used of RMB 141,177 thousand in the same period of 2022[73]. Corporate Governance and Shareholder Information - The company did not declare any interim dividend for the first half of 2023, consistent with the previous year[49]. - As of June 30, 2023, the major shareholder, Dingxi Limited, held approximately 75.00% of the issued share capital, totaling 324,708,066 shares[56]. - The company has complied with all corporate governance code provisions as per the Hong Kong Stock Exchange rules, except for the separation of the roles of Chairman and CEO[54]. Market Environment and Future Plans - The external environment remains challenging due to trade protectionism and global economic downturn, but the company believes the impact on its essential consumer products will be limited[11]. - The company plans to increase investment in new product development, focusing on high-value-added processed foods to enhance competitiveness and market resilience[12]. - The company aims to optimize its product mix, strengthen cost management, and expand new sales channels to improve overall performance[12]. - The company has plans for market expansion and new product development, although specific details were not disclosed in the report[66].

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 分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 CHINA KANGDA FOOD COMPANY LIMITED 中 國 康 大 食 品 有 限 公司 （於百慕達註冊成立的有限公司） 834 （香港股份代號（第一上市）： ） P74 （新加坡股份代號（第二上市）： ） 截至二零二三年六月三十日止六個月的 未經審核中期業績公告 中國康大食品有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈本公司及其 附屬公司（統稱「本集團」）截至二零二三年六月三十日止六個月的未經審核簡明綜合 中期業績連同二零二二年同期的比較數字載列如下。 簡明綜合損益及其他全面收益表 截至二零二三年六月三十日止六個月 截至六月三十日止六個月 二零二三年 二零二二年 附註 人民幣千元 人民幣千元 （未經審核） （未經審核） ...

CHINA KANGDA FOOD COMPANY LIMITED （於百慕達註冊成立之有限公司） 香港股票代碼 : 834 新加坡股份代碼 : P74 年報 2022 從基地到餐桌 提供安全和健康的生活方式 全產業鏈 CHINA KANGDA FOOD COMPANY LIMITED (incorporated in Bermuda with limited liability) Singapore stock code : P74 Hong Kong stock code : 834 Lawn to Table Eating Provide Safe and Healthy Lifestyle THE WHOLE INDUSTRY CHAIN Annual Report 2022 C HINA KANGDA FOOD COMPANY LIMITED 中國康大食品有限公司 Annual Report 年報 2022 ⪞癩☮ ╈㎜䉕㛻광⿁僘⪞ր儗⪞ց亥┉▆▆◅䇗䡗环憡╈虓☕妩⪦⽰㎜ր╈㎜ց㛡⩕ⴭ광⿁邯鵳⹗ⱶ䄄㎯╚釒䐍 ◄榟榣ⱶ䄄ꊸす⹗⮈ꊸ a) ⱶ䄄광⿁ⴎ䦮㛡牊광⿁㞞ⷊ광嵡걊⽾ㄷ광⿁缜ꦎ捙광懮⩯缜缜╗⸼姍㵸ⴎ ...