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） ...

Financial Performance - In the fiscal year 2022, China Kangda Food Company Limited reported a revenue of approximately RMB 1,745.8 million, representing a 14.9% increase from RMB 1,519.6 million in the previous fiscal year[12]. - The gross profit for the fiscal year 2022 was RMB 121.5 million, which is a significant increase of 68.6% compared to RMB 72.1 million in fiscal year 2021[12]. - The net loss attributable to the owners of the company decreased to RMB 15.4 million in fiscal year 2022, down 62.0% from a loss of RMB 40.6 million in fiscal year 2021[25]. - The company's gross margin improved from 4.7% in fiscal year 2021 to 7.0% in fiscal year 2022, indicating better cost management and pricing strategies[25]. - Revenue increased by 14.9% from approximately RMB 1,519.6 million in the fiscal year 2021 to approximately RMB 1,745.8 million in the fiscal year 2022[45]. - Overall gross profit margin improved to 7.0%, up from 4.7% in the previous fiscal year, with processed food gross margin increasing to 13.4%[54][55]. Product Revenue Breakdown - Processed foods accounted for RMB 738.7 million (42.3%) of total revenue in fiscal year 2022, while chilled and frozen chicken meat contributed RMB 598.7 million (34.3%) and chilled and frozen rabbit meat contributed RMB 160.2 million (9.2%)[19]. - Revenue from chilled and frozen chicken increased by 64.7% to approximately RMB 598.7 million, driven by recovering market demand and increased production capacity[50]. - Revenue from chilled and frozen rabbit meat decreased by 28.1% to approximately RMB 160.2 million due to stricter environmental regulations affecting rabbit farming[51]. - Revenue from other products rose by 27.2% to approximately RMB 248.2 million, largely due to the growth in domestic pet food sales[52]. - Revenue from the Chinese market increased by 24.4% to approximately RMB 1,189.0 million, contributing 68.1% of total revenue[53]. Market and Expansion Strategies - The sales volume and prices of chicken products increased due to the gradual recovery of the consumer market, contributing to the overall revenue growth[25]. - The company continues to adopt stable expansion strategies to strengthen its foothold in the rabbit meat segment, which is a key area of growth[7]. - The company plans to expand its own poultry farms or acquire poultry farms in 2023 to achieve revenue and profit growth[26]. - The company plans to focus on high-value processed foods and high-quality chicken products in 2023, aiming for revenue and profit growth through expanding or acquiring chicken farms[46]. Challenges and Market Conditions - In FY2022, the consumer industry faced challenges due to trade protectionism and global economic recession, but the company's essential products limited the impact of these uncertainties[26]. - The food industry will continue to face low growth rates and intensified competition, with food safety and health being top consumer concerns[27]. - The consumer market rapidly recovered in Q1 2023 following the lifting of pandemic control measures, with expectations for continued consumption upgrades and market growth[26]. Corporate Governance - The company has adhered to the corporate governance code during the fiscal year ending December 31, 2022, with a noted deviation from one specific provision[86]. - The board of directors is responsible for the overall performance of the company and consists of five executive directors and three independent non-executive directors[87]. - The company has established clear guidelines for matters requiring board approval, including mergers and acquisitions, investments, and significant operational policies[91]. - The board has established various committees, including the remuneration committee, to oversee critical functions and ensure effective internal controls[99]. - The company has established a strong corporate governance framework, ensuring compliance with international financial reporting standards and timely disclosure of financial performance[7]. Risk Management and Internal Controls - The company has implemented a corporate risk management framework to assess and address financial, operational, IT, and compliance risks[7]. - The internal audit function identified no significant deficiencies or weaknesses in the internal control system during the fiscal year 2022[141]. - The audit committee reviewed the adequacy and effectiveness of the internal control and risk management systems and provided recommendations for improvement[130]. - The board confirmed that the risk management and internal control systems cover all significant controls, including financial, operational, and compliance controls[142]. Employee and Management Information - Total employee costs for the fiscal year were approximately RMB 201.6 million, up from RMB 195.5 million in the previous fiscal year[77]. - The company employed 1,998 employees in China as of December 31, 2022, down from 2,849 employees a year earlier[77]. - The total remuneration payable to senior management (excluding directors) for the fiscal year 2022 amounted to RMB 2,578,000[107]. - The remuneration for individual directors in the fiscal year 2022 included RMB 4,279,000 for Fang Yu, RMB 720,000 for An Fengjun, and RMB 3,851,000 for Li Wei[111]. Financial Position and Assets - Cash and cash equivalents increased by approximately 42.8% to about RMB 197.9 million as of December 31, 2022, primarily due to increased bank borrowings[67]. - Interest-bearing bank borrowings increased by 136.4% to approximately RMB 305.1 million as of December 31, 2022, following new borrowings of approximately RMB 290.0 million[68]. - The company's asset-liability ratio was 77.7% as of December 31, 2022, compared to 50.2% a year earlier, indicating a significant increase in debt levels[72]. - Biological assets increased by 50.0% in the fiscal year 2022, reflecting the expansion of broiler chicken farming due to market recovery[67]. Shareholder Communication and Policies - The company has established a shareholder communication policy to ensure effective communication with shareholders and encourages participation in annual general meetings[165]. - The company recognizes the benefits of a diverse board and believes it is essential for achieving strategic goals and sustainable development[174]. - The board aims to ensure that changes in its composition do not cause inappropriate disruption[172]. - The company has a dedicated internal investor relations function to facilitate regular communication with shareholders and analysts[165].

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）： ） 截至二零二二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」）截至二零二二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 截至二零二二年十二月三十一日止年度 二零二二年 二零二一年 附註 人民幣千元 人民幣千元 5 1,745,787 1,519,614 收益 (1,624,242) (1,447,506) 銷售成本 121,545 72,108 ...

KONDΞ康九 CHINA KANGDA FOOD COMPANY LIMITED (incorporated in Bermuda with limited liability) Singapore stock code : P74 Hong Kong stock code : 834 Interim Report 2022 Lawn to Table Eating THE WHOLE INDUSTRY CHAIN Provide Safe and Healthy Lifestyle 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 中期報告 2022 從基地到餐桌 全產業鏈 提供安全和 健康的生活方式 目錄 1 中國康大食品有限公司 二零二二年中期報告 目錄 2 公司簡介 3 公司資料 4 管理層討論與分析 10 其他資料 12 簡明綜合損益及其他全面收益表 13 簡明綜合財務狀況表 15 簡明綜合權益變動表 16 簡明綜合現金流量表 17 簡明綜合中期財務報表附註 公司簡介 二零二二年中期報告 中國康 ...

Financial Performance - For the fiscal year 2021, China Kangda Food Company Limited reported a revenue of RMB 1,519.6 million, a slight decrease of 0.1% from RMB 1,520.8 million in fiscal year 2020[23]. - The gross profit for fiscal year 2021 was RMB 72.1 million, representing a significant decline of 37.6% compared to RMB 115.6 million in fiscal year 2020[23]. - The net loss attributable to shareholders was RMB 40.6 million in fiscal year 2021, worsening from a loss of RMB 36.1 million in fiscal year 2020[23]. - The basic loss per share for fiscal year 2021 was RMB 9.38, compared to a loss of RMB 8.33 per share in fiscal year 2020[10]. - The company's gross margin decreased from 7.6% in fiscal year 2020 to 4.7% in fiscal year 2021 due to rising animal feed costs and declining prices of live chicken[23]. - Sales revenue decreased by 0.1% from approximately RMB 1,520.8 million in the fiscal year 2020 to approximately RMB 1,519.6 million in the fiscal year 2021[41]. - Gross profit decreased by 37.6% from RMB 115.6 million in the fiscal year 2020 to RMB 72.1 million in the fiscal year 2021[41]. Market Strategy - The company plans to focus on high-value-added processed foods to maintain profitability and enhance competitiveness in a challenging market environment[24]. - The company aims to actively develop new markets and customers to counteract the challenges posed by low growth rates and increased competition in the food industry[24]. - The company plans to optimize its product mix, enhance cost management, strengthen brand building, and expand new sales channels to improve overall performance[25]. Product Performance - In the fiscal year 2021, the revenue from processed food increased by 13.6% to approximately RMB 738.2 million, driven by new product development[46]. - The revenue from frozen chicken decreased by 25.4% to approximately RMB 363.4 million due to significant price fluctuations[47]. - The revenue from frozen rabbit meat increased by 33.8% to approximately RMB 222.8 million, supported by the development of new domestic customers[48]. - The gross profit margin for processed food improved from 7.4% in the previous year to 8.4% in fiscal year 2021, benefiting from higher-margin new products[53]. - The gross profit margin for frozen chicken dropped to -8.6% in fiscal year 2021, a decline attributed to falling prices and demand[54]. - The gross profit margin for frozen rabbit meat increased to 7.6% in fiscal year 2021, due to a higher proportion of higher-margin products[55]. Health and Safety - The company has implemented comprehensive health and safety plans to ensure employee well-being and product safety amid the ongoing COVID-19 pandemic[24]. - The company emphasizes the importance of food safety and health, aligning with consumer trends towards healthier options[25]. - Rabbit meat, being high in protein and low in fat and calories, is positioned as a healthier alternative, contributing to the company's core competitive business[25]. Financial Position - As of December 31, 2021, the company's net asset value was approximately RMB 582.2 million, down from RMB 635.2 million a year earlier, with non-current assets at RMB 764.5 million and current assets at RMB 493.2 million[70]. - Cash and cash equivalents decreased by approximately 33.6% to about RMB 138.6 million as of December 31, 2021, primarily due to the repayment of bank loans during the fiscal year[66]. - Trade receivables increased by 38.8% to approximately RMB 120.2 million as of December 31, 2021, driven by increased procurement from major customers due to favorable market trends[66]. - Inventory rose by 5.7% to approximately RMB 127.5 million as of December 31, 2021, as the company maintained higher stock levels in response to positive market trends[66]. - The company's asset-liability ratio improved to 50.2% as of December 31, 2021, down from 67.8% a year earlier, reflecting a net debt of approximately RMB 284.5 million[72]. Corporate Governance - The company reported a clear separation of roles between the Chairman and the CEO, with the current Chairman also serving as CEO, which the board believes provides strong leadership[93]. - All directors received timely and sufficient information regarding the company's business, ensuring effective board operations[93]. - The board has established a shareholder communication policy to maintain effective contact with shareholders and encourage their participation in meetings[95]. - The company has implemented procedures for directors to seek independent professional advice at the company's expense to assist in fulfilling their duties[95]. - The board composition includes a balanced mix of executive and non-executive directors, ensuring strong independent judgment[97]. - The company has maintained a comprehensive list of directors on its website, detailing their roles and whether they are independent non-executive directors[98]. - The company has appointed independent non-executive directors for a term of one year, with the possibility of reappointment upon one month's written notice[99]. Risk Management - The board conducts an annual review of the risk management and internal control systems, covering all significant monitoring aspects including financial, operational, and compliance risks[128]. - The company has established a risk management and internal control system, with the board responsible for its effectiveness and compliance[132]. - The internal audit function has been outsourced to an external auditor, ensuring independence and expertise in the audit process[132]. - The audit committee reviews the effectiveness of internal controls and risk management systems, confirming their adequacy as of December 31, 2021[159]. Employee and Remuneration - The total employee cost for the group was approximately RMB 195.5 million for the fiscal year, slightly increasing from RMB 194.5 million in the previous fiscal year[77]. - The remuneration committee consulted the chairman regarding the remuneration of other executive directors, but did not seek independent professional advice during the fiscal year[117]. - Total remuneration for senior management (excluding directors) amounted to RMB 2,504,000 for the fiscal year 2021[177]. - The company did not recommend any performance bonuses for the fiscal year 2021 due to failure to meet target profit[172]. Audit and Compliance - The audit committee has the authority to consult independent professional advice as needed, with costs covered by the company[136]. - The audit committee's responsibilities include monitoring the relationship with external auditors and ensuring proper arrangements for confidential reporting of misconduct[136]. - The company is committed to maintaining compliance with accounting standards and regulatory requirements[195]. - The audit committee reviewed the independence and objectivity of external auditors, including the nature and extent of non-audit services provided[195].

Financial Performance - For the first half of 2021, China Kangda Food Company reported a loss attributable to shareholders of approximately RMB 39.8 million, compared to a loss of RMB 1.6 million in the same period of 2020[13]. - Revenue increased by 3.0% from approximately RMB 702.5 million in the first half of 2020 to approximately RMB 723.3 million in the first half of 2021, driven by a recovery in consumer demand[13]. - Gross profit margin decreased from 8.5% in the first half of 2020 to 4.8% in the first half of 2021, resulting in a gross profit reduction of RMB 25.7 million to RMB 34.4 million[13]. - The company reported a loss of RMB 40.6 million for the six months ended June 30, 2021, compared to a loss of RMB 1.7 million for the same period in 2020[38]. - Basic loss per share for the six months ended June 30, 2021, was RMB 9.2, compared to RMB 0.38 for the same period in 2020[38]. - The company reported a loss of RMB 39,841 thousand for the period, compared to a loss of RMB 1,624 thousand in the previous period, indicating a significant increase in losses[41]. - The total comprehensive loss for the period was RMB 39,920 thousand, compared to a total comprehensive loss of RMB 1,987 thousand in the previous period[41]. Revenue Breakdown - Revenue from processed foods increased by 17.7% to approximately RMB 347.5 million, contributing 48.0% of total revenue[16]. - Revenue from frozen chicken decreased by 30.4% to approximately RMB 158.5 million, primarily due to rising feed costs and market price fluctuations[17]. - Revenue from frozen rabbit meat surged by 47.6% to approximately RMB 103.9 million, attributed to the development of new customers[18]. - Revenue from other products, including pet food and by-products, increased by 4.0% to RMB 113.4 million, benefiting from new sales channels in Europe[19]. - Revenue from the Chinese market grew by 5.4% to RMB 472.9 million, while export revenue slightly decreased by 1.4% to RMB 250.4 million[20]. Cost and Expenses - Overall gross profit margin decreased from 8.5% to 4.8%, with processed foods' gross margin dropping to 6.3% due to rising raw material costs[23]. - The gross margin for frozen chicken plummeted by 10.5 percentage points to -4.5%, influenced by increased feed costs and production expenses[23]. - The gross margin for frozen rabbit meat improved to 6.0%, reflecting better sales performance[23]. - Administrative expenses increased by RMB 2.2 million due to higher foreign exchange losses and increased travel expenses in the first half of 2021[24]. - Other operating expenses rose to RMB 15.1 million, up RMB 11.2 million from RMB 3.9 million in the first half of 2020, primarily due to depreciation of investment properties[24]. - The total cost of goods sold for the six months ended June 30, 2021, was RMB 580,590,000, an increase from RMB 529,670,000 in the same period of 2020, reflecting a rise of approximately 9.6%[63]. Assets and Liabilities - As of June 30, 2021, property, plant, and equipment decreased by 5.9% to approximately RMB 398.2 million, attributed to depreciation and the sale of breeding farms[24]. - Trade receivables increased by RMB 57.8 million to approximately RMB 144.4 million, mainly due to the recovery of more trade receivables at the end of 2020[24]. - Trade payables increased by 20.1% to approximately RMB 178.4 million, primarily due to a slowdown in settling trade payables during the period[27]. - The company's cash and cash equivalents decreased to approximately RMB 123.1 million from RMB 208.8 million as of December 31, 2020[27]. - The asset-liability ratio as of June 30, 2021, was 69.2%, up from 67.8% as of December 31, 2020[27]. - The company's net assets decreased to RMB 594,575 thousand from RMB 635,249 thousand, a decline of about 6.4%[40]. Strategic Focus and Future Plans - The company plans to continue optimizing its product mix, enhancing cost management, and expanding new sales channels to strengthen its core capabilities and improve overall performance[13]. - The company is focused on high-value-added processed foods and aims to maintain strong relationships with key customers while actively developing new markets and clients[13]. - The company aims to maintain a robust capital structure to lower capital costs and support future business expansion[27]. - The company plans to continue its focus on the production and sale of food products, including poultry and rabbit meat, as part of its core business strategy[46]. Corporate Governance and Compliance - The company has complied with all corporate governance code provisions as of June 30, 2021, except for the separation of the roles of Chairman and CEO[32]. - The company has adopted the standard code for securities transactions by directors as per the listing rules[36]. - The company did not recommend any interim dividend for the first half of 2021, consistent with the same period in 2020[28]. Market and Industry Insights - The company believes that the demand for rabbit meat will steadily increase as living standards rise and more consumers prefer nutritious food options[13]. - The company has established a complete industry chain for rabbit meat, from breeding to processing, and is one of the eight companies in China authorized to export rabbit meat to overseas markets[13].

Financial Performance - For the fiscal year 2020, China Kangda Food Company Limited reported revenue of RMB 1,520.8 million, an increase of 7.8% from RMB 1,410.5 million in 2019[24] - The gross profit for the fiscal year 2020 was RMB 115.6 million, reflecting an increase of 8.4% compared to RMB 106.6 million in 2019[24] - The company recorded a net loss attributable to shareholders of RMB 36.1 million for the fiscal year 2020, a decline from a profit of RMB 4.4 million in 2019[25] - The basic loss per share for 2020 was RMB (8.33), compared to earnings of RMB 1.01 per share in 2019[8] - The gross margin for the fiscal year 2020 remained stable at 7.6%, consistent with the previous year[24] - Revenue for the fiscal year 2020 increased by 7.8% to approximately RMB 1,520.8 million from RMB 1,410.5 million in fiscal year 2019[47] - Gross profit rose by 8.4% to RMB 115.6 million, maintaining a gross margin of 7.6% for both fiscal years[47] - The company recorded a loss attributable to owners of RMB 36.1 million in fiscal year 2020, compared to a profit of RMB 4.4 million in fiscal year 2019, primarily due to a decline in chicken market prices and impairment losses[47] Revenue Sources - The company’s main revenue source in 2020 was processed foods, contributing RMB 649.8 million, which accounted for 42.73% of total revenue[12] - Revenue from processed foods decreased by 14.6% to approximately RMB 649.8 million, impacted by reduced demand in food service channels due to COVID-19[49] - Revenue from chilled and frozen chicken increased by 45.3% to approximately RMB 487.4 million, driven by increased demand as a substitute for pork[51] - Revenue from chilled and frozen rabbit meat rose by 5.7% to approximately RMB 166.5 million, benefiting from new customer development[52] - Revenue from other products increased by 38.7% to RMB 217.1 million, largely due to growth in pet food exports and new sales channels in Korea and Europe[53] - Domestic sales revenue increased by 13.8% to RMB 914.1 million, attributed to new product and customer development[54] Operational Challenges - The company faced challenges due to a decline in chicken market prices, resulting in a loss of RMB 4.2 million from the fair value adjustment of biological assets[25] - The COVID-19 pandemic has caused short-term operational impacts, including temporary transportation restrictions and raw material shortages, but the company has implemented strict control measures to ensure employee health and business continuity[27] Strategic Focus - The company focuses on high-value processed foods to maintain profitability and enhance competitiveness amid low growth rates and increased competition in the food industry[27] - The rabbit meat segment remains a core and competitive business, with the company being one of eight enterprises in China authorized to export rabbit meat[28] - The company anticipates a steady increase in demand for rabbit meat as consumer preferences shift towards healthier and more nutritious food options[28] - The company plans to optimize its product mix, strengthen cost management, and expand new sales channels to enhance overall performance[28] Future Outlook - The company provided guidance for the next fiscal year, projecting a revenue growth of 10% to 12%[40] - New product launches are expected to contribute an additional HKD 200 million in revenue, with a focus on expanding the product line in the health food sector[40] - Market expansion plans include entering two new provinces in China, targeting a potential market size of HKD 300 million[40] - The company is considering strategic acquisitions to enhance its market position, with a budget of HKD 100 million allocated for potential deals[40] - A new marketing strategy will be implemented, focusing on digital channels, with an expected increase in marketing spend by 25%[40] Governance and Management - The board of directors has approved a dividend payout of HKD 0.10 per share, reflecting a commitment to returning value to shareholders[40] - The board of directors meets at least four times a year to ensure proper governance and oversight of the company's operations[95] - The company has established procedures for directors to seek independent professional advice at the company's expense when necessary[97] - The roles of the chairman and CEO are distinct, although the current chairman also serves as CEO, which the board believes provides strong leadership[100] - The company has a shareholder communication policy to maintain effective communication with shareholders and encourage their participation in meetings[102] Risk Management and Internal Controls - The board is responsible for the risk management and internal control systems, which are regularly evaluated for effectiveness and compliance[143] - The internal audit function has been outsourced to an external firm, ensuring independent oversight of the company's internal controls[143] - The company has established a risk management framework to oversee financial, operational, and compliance risks[184] - The audit committee is tasked with monitoring the relationship with the external auditor and ensuring adequate resources are available to fulfill its responsibilities[154] Compensation and Remuneration - The remuneration committee has consulted the chairman regarding the compensation of other executive directors, ensuring compliance with governance standards[130] - The company has disclosed the remuneration details of senior management in its annual report, categorized by salary levels[130] - The compensation policy aims to provide appropriate rewards to directors to encourage performance improvement and fairly reward individual contributions to the company's success[192] - Total remuneration payable to senior management (excluding directors) amounted to RMB 2,680,000 for the fiscal year 2020[194] - No performance bonuses were recommended for the fiscal year 2020 as the target profit was not achieved[192]

Company Overview - China Kangda Food Company Limited is a major manufacturer and exporter of rabbit meat products, with significant exports to the European Union and operations in over 30 countries[5]. - The company has established a strong distribution network across 26 provinces in China and has expanded its product offerings to include processed foods such as instant soups and curry products[5]. - The company is recognized as one of the largest rabbit meat exporters in China and has received certification for rabbit breeding practices, enhancing its market position[5]. Financial Performance - The company reported a loss attributable to owners of approximately RMB 1.624 million for the first half of 2020, compared to a profit of approximately RMB 4.798 million for the same period in 2019, indicating a significant decline in performance[10]. - Revenue increased by 4.0% from approximately RMB 675.3 million in the first half of 2019 to approximately RMB 702.5 million in the first half of 2020, driven by growing export orders[10]. - Gross profit increased by RMB 7.1 million to RMB 60.1 million, with gross margin rising from 7.8% in the first half of 2019 to 8.5% in the first half of 2020[10]. - Revenue from processed foods decreased by 18.2% to approximately RMB 295.2 million due to negative impacts on demand from food service channels during COVID-19[15]. - Revenue from chilled and frozen chicken increased by 48.0% to approximately RMB 227.9 million, attributed to chicken being a staple food and a substitute for rising pork prices[17]. - Revenue from other products, mainly pet food and feed products, increased by 40.2% to RMB 109.0 million, largely due to new sales channels developed in Korea and Europe[18]. - Export sales revenue increased by 47.7% to RMB 254.0 million, as overseas customers shifted orders to China amid the pandemic[19]. - Revenue from China decreased by 10.9% to RMB 448.6 million, impacted by transportation restrictions during COVID-19[19]. Cost Management and Expenses - The company plans to optimize its product mix, strengthen cost management, and expand new sales channels to enhance overall performance[10]. - Administrative expenses decreased due to cost control measures and reduced travel expenses during the COVID-19 pandemic[21]. - Financing costs decreased by 26.1% to approximately RMB 10.5 million, primarily due to a reduction in the average balance of bank borrowings[21]. - Total employee costs, including director remuneration, were approximately RMB 94.1 million during the review period, down from RMB 101.2 million for the six months ended June 30, 2019[27]. - The financing costs for the six months ended June 30, 2020, were RMB 10,478,000, a decrease from RMB 14,185,000 in the same period of 2019, indicating a reduction of approximately 26.0%[60]. Assets and Liabilities - As of June 30, 2020, the company's net asset value was approximately RMB 668.6 million, a slight decrease from RMB 670.7 million as of December 31, 2019[24]. - Cash and cash equivalents increased to approximately RMB 220.7 million, up from RMB 159.5 million as of December 31, 2019, mainly due to increased revenue[24]. - Trade payables and notes increased by 18.0% to approximately RMB 242.6 million, attributed to a slowdown in settling trade payables during the period[24]. - The company's total interest-bearing bank borrowings decreased by RMB 19.0 million to approximately RMB 315.0 million as of June 30, 2020, with interest rates ranging from 4.79% to 5.655%[24]. - The company's asset-liability ratio was 68.6% as of June 30, 2020, compared to 69.7% as of December 31, 2019[24]. Shareholder Information - Major shareholder Dingxi Limited holds 324,708,066 shares, representing approximately 75.00% of the issued share capital as of June 30, 2020[33]. - The board of directors does not recommend the payment of an interim dividend for the six months ended June 30, 2020, consistent with the previous year[35]. Corporate Governance - The company has complied with all corporate governance code provisions as of June 30, 2020, except for certain deviations noted during the period from June 18, 2020, to August 23, 2020[31]. - The company believes that the dual roles of Chairman and CEO held by Fang Yu provide strong and effective leadership for business planning and decision-making[31]. - The company aims to separate the roles of Chairman and CEO when suitable candidates are identified in the future[31]. Operational Highlights - The company operates primarily in the production and sale of food products, including poultry and rabbit meat, with a focus on the Chinese market[50]. - The company’s main business segments include processed food production, chilled and frozen chicken, chilled and frozen rabbit meat, and other products[55]. Cash Flow and Investments - Net cash generated from operating activities for the six months ended June 30, 2020, was RMB 70,955 thousand, compared to a net cash used of RMB 47,178 thousand in the same period of 2019, representing a significant improvement[47]. - The company reported a decrease in cash flow from investment activities, with cash inflow of RMB 8,880 thousand compared to an outflow of RMB 7,548 thousand in the previous year[47]. - The total cash inflow from financing activities was RMB 1,332 thousand, a significant decrease from RMB 128,191 thousand in the same period of 2019[47]. Revenue Breakdown - The revenue from processed food segment was RMB 295,216,000, while the revenue from frozen chicken was RMB 227,941,000, and frozen rabbit meat was RMB 70,378,000 for the six months ended June 30, 2020[56]. - The company recognized a total of RMB 7,923,000 in other income for the six months ended June 30, 2020, compared to RMB 32,316,000 in the same period of 2019, indicating a significant decrease[58]. Accounts Receivable and Payable - Trade receivables increased by RMB 9.7 million to approximately RMB 124.3 million, in line with increased sales[21]. - The total accounts payable and notes payable reached RMB 242,622,000 as of June 30, 2020, an increase of 18.0% from RMB 205,545,000 as of December 31, 2019[70]. - Accounts payable within 60 days amounted to RMB 133,477,000, an increase of 11.9% from RMB 119,347,000 in the previous period[70].

KONDE康大 CHINA KANGDA FOOD COMPANY LIMITED 中國康大食品有限公司 | --- | --- | --- | |-------|--------------------------------------------------|-------| | | 中國康大食品有限公司 | | | | | | | | CHINA KANGDA FOOD COMPANY LIMITED | | | | (incorporated in Bermuda with limited liability) | | Singapore stock code : P74 Hong Kong stock code : 834 Annual Report 2019 Lawn to Table Eating The Whole Industry Chain Provide Safe and Healthy Lifestyle ANNUAL REPORT 2019 年報 中國康大食品有限公司 CHINA KANGDA FOOD COMPANY LIMITED （於百慕達註冊成立之有限公司） 新加坡股份代碼 ...

全產業鏈 從基地到餐桌 提供安全和健康的生活方式 Lawn To Table Eating Provide Safe and Healthy Lifestyle The Whole Industry Chain Singapore stock code : P74 Hong Kong stock code : 834 Interim Report 2019 KONDミ康大 中國康大食品有限公司 CHINA KANGDA FOOD COMPANY LIMITED （於百慕達註冊成立之有限公司） 中國康大食品有限公司 CHINA KANGDA FOOD COMPANY LIMITED (incorporated in Bermuda with limited liability) 新加坡股份代碼 : P74 香港股票代碼 : 834 中期報告2019 目錄 1 中國康大食品有限公司 二零一九年中期報告 目錄 | --- | --- | |-------|------------------------------| | | | | 2 | 公司簡介 | | 3 | 公司資料 | | 4 | 管理層討論與分析 | ...