Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 5,293,583 thousand, representing a 1.3% increase from RMB 5,226,576 thousand in the same period of 2022[2] - Profit before tax increased by 29.6% to RMB 436,812 thousand compared to RMB 336,927 thousand in the previous year[2] - Basic earnings per share rose to RMB 0.245, up 2.1% from RMB 0.240 in the same period last year[2] - Total comprehensive income for the period was RMB 150,591 thousand, significantly up from RMB 70,467 thousand in the previous year[6] - The group reported a profit attributable to ordinary shareholders of RMB 273.269 million for the six months ended June 30, 2023, compared to RMB 267.469 million for the same period in 2022[28] - The net profit for the first half of 2023 was approximately RMB 272 million, an increase of about 3.5% from RMB 262 million in the same period of 2022[43] Dividends - The interim dividend declared is RMB 0.122 per share, equivalent to 13.3 Hong Kong cents, a decrease of 4.3% from 13.9 Hong Kong cents in the previous year[2] - The mid-term dividend declared was RMB 0.122 per ordinary share, compared to RMB 0.120 per ordinary share in the previous year[56] - A 10% corporate income tax will be withheld on the declared 2023 interim dividend for non-resident shareholders[58] - The expected distribution date for the 2023 interim dividend is around September 25, 2023[60] Assets and Liabilities - Non-current assets as of June 30, 2023, totaled RMB 6,856,744 thousand, an increase from RMB 6,683,943 thousand at the end of 2022[7] - Current liabilities decreased to RMB 7,569,826 thousand from RMB 6,828,393 thousand at the end of 2022[8] - Net assets as of June 30, 2023, were RMB 5,769,878 thousand, compared to RMB 5,728,402 thousand at the end of 2022[9] - As of June 30, 2023, the group's net current liabilities amounted to approximately RMB 371,393,000, with available undrawn financing of RMB 1,454,938,000[15] - The group's net assets as of June 30, 2023, were approximately RMB 57.70 billion, an increase from RMB 57.28 billion as of December 31, 2022[45] Cash Flow and Investments - The net cash generated from operating activities was RMB 51,798 thousand, a significant improvement from a net cash used of RMB 224,572 thousand in the previous year[10] - The company reported a net cash outflow from investing activities of RMB 362,712 thousand, compared to RMB 321,802 thousand in the same period of 2022, indicating increased investment activity[11] - New bank loans raised amounted to RMB 1,276,685 thousand, a substantial increase from RMB 552,328 thousand in the prior year, reflecting a strategy to enhance liquidity[11] - The total cash and cash equivalents at the end of the period were RMB 1,938,933 thousand, up from RMB 1,809,552 thousand at the end of June 2022[12] - The company's cash flow from financing activities showed a net outflow of RMB 144,822 thousand, a significant decrease from a net inflow of RMB 432,912 thousand in the same period last year, indicating changes in financing strategy[11] Revenue Breakdown - Revenue from tinplate packaging decreased to RMB 2,080,934,000 from RMB 2,169,397,000, a decline of 4.1% year-on-year[20] - Revenue from aluminum packaging increased to RMB 2,891,628,000, up 5.2% from RMB 2,748,790,000 in the previous year[20] - The sales revenue of the two-piece can business reached approximately RMB 2.785 billion in the first half of 2023, an increase of about 4.9% compared to RMB 2.655 billion in the same period of 2022[34] - The sales revenue of the single-piece can products was approximately RMB 106 million in the first half of 2023, up about 12.8% from RMB 94 million in the same period of 2022[35] - The sales revenue of the tinplate packaging segment was approximately RMB 2.081 billion in the first half of 2023, a decrease of about 4.1% from RMB 2.169 billion in the same period of 2022, accounting for approximately 39.3% of total sales[36] Employee Costs - Employee costs for the six months ended June 30, 2023, totaled RMB 426,975,000, an increase from RMB 387,033,000 in the previous year, reflecting a rise of 10.3%[23] - The total employee cost for the group was approximately RMB 427 million as of June 30, 2023, compared to RMB 387 million in the same period last year[51] - The group employed 6,292 full-time employees as of June 30, 2023, an increase from 5,776 employees in the same period last year[51] Financial Ratios and Metrics - The total borrowings increased to RMB 53.65 billion as of June 30, 2023, compared to RMB 52.11 billion as of December 31, 2022, resulting in a leverage ratio of 63.2%, up 10.6 percentage points[46] - The current ratio as of June 30, 2023, was approximately 1.0, down from 1.1 as of December 31, 2022[46] Corporate Governance - The remuneration committee consists of two independent non-executive directors and one non-executive director, ensuring no director participates in determining their own remuneration[61] - The audit committee is responsible for reviewing the financial reporting process and monitoring the effectiveness of internal control systems[62] - The nomination committee evaluates the board's structure and proposes changes to the board as necessary[63] - The Risk Management Committee was established on December 22, 2016, to oversee the group's enterprise risk management framework and policies[64] - The committee consists of one independent non-executive director, one non-executive director, and one executive director, chaired by Mr. Chen Jihua[64] - The board of directors includes Mr. Zhang Xin as the chairman and executive director, with several other executive and non-executive directors[65] Strategic Initiatives - The group aims to enhance its market share and optimize investment strategies while focusing on sustainable development and green initiatives[44] - The group plans to continue expanding new development opportunities both domestically and internationally, emphasizing high-quality and differentiated product offerings[44]

Financial Performance - CPMC Holdings Limited reported a revenue of RMB 10,255,225, representing a 7.2% increase from RMB 9,566,382 in 2021[5] - Profit attributable to equity holders increased by 5.2% to RMB 486,512 compared to RMB 462,498 in the previous year[5] - Earnings per share rose by 5.3% to RMB 0.437 from RMB 0.415 in 2021[5] - In 2022, the Group's revenue amounted to approximately RMB10,255 million, representing an increase of 7.2% compared to RMB9,566 million in 2021[62] - The net profit for 2022 was approximately RMB485 million, reflecting a year-on-year increase of 2.4% from RMB473 million in 2021[63] - The Group's gross profit margin for 2022 was approximately 12.5%, a decrease from 13.9% in 2021, primarily due to rising raw material prices[62] Business Segments Performance - The aluminium packaging business saw a sales revenue increase of 20.3% year-on-year, contributing to the overall growth of the company[32] - Sales revenue from aluminium packaging products reached approximately RMB5,368 million in 2022, a 20.3% increase from RMB4,463 million in 2021, accounting for 52.3% of overall sales[45] - The sales revenue from tinplate packaging decreased by approximately 5.6% to RMB4,213 million in 2022, down from RMB4,461 million in 2021, representing 41.1% of overall sales[49] - The sales revenue from the milk powder can business increased by approximately 9.4% to RMB806 million in 2022, compared to RMB737 million in 2021[52] - The plastic packaging segment's sales revenue from new product categories accounted for 21% of the annual sales revenue, indicating successful market expansion[34] Strategic Initiatives - CPMC is focusing on high-quality development and risk prevention, aiming to enhance manufacturing upgrades and achieve green carbon reduction[28] - The company is expanding its production capacity with new plants in Kunming and Shenyang, and a third production line in Chengdu to meet productivity targets for 2023[32] - The Group plans to enhance low-carbon product innovation and invest in digitalisation to improve competitive advantages and shareholder returns[60] - CPMC's strategic layout is being optimized to cover key consumer markets across China, enhancing its competitive position in the packaging industry[24] Risk Management - The Group identified major risks including operational risks from macroeconomic control, fluctuations in raw material prices, market competition, food safety, and quality risks, which could significantly impact sales and profits[78] - The Group's risk management framework includes guidelines and policies for risk assessment and management, focusing on major risks such as credit and market risk[143] Corporate Governance - The Board of Directors is committed to maintaining high corporate governance standards, having adopted all code provisions of the Corporate Governance Code since its listing in 2009[81] - The Company aims to maintain clear and effective communication with shareholders, with the next annual general meeting scheduled for May 29, 2023[162] - The Board conducted a review of the effectiveness of the Group's shareholders' communication policy during the financial year ended 31 December 2022, deeming it effective[168] - The Company has not made any changes to its Articles during the year ended 31 December 2022, and an up-to-date version is available on its website[169] Environmental, Social, and Governance (ESG) - The Board is responsible for the environmental, social, and governance (ESG) governance of CPMC, with the Audit Committee supervising ESG-related matters[185] - CPMC identified product responsibility, employment, and emissions as highly material issues during the year, with health and safety and development and training also noted as material[197] - CPMC's ESG governance structure integrates ESG management into corporate governance, ensuring effective implementation of ESG strategies[191] - The ESG task force, comprising 11 departments, formulates specific annual work plans and manages daily ESG risks[192] Financial Position - The Group's cash and cash equivalents increased to approximately RMB2,380 million in 2022, up from RMB1,917 million in 2021[67] - The gearing ratio as of 31 December 2022 was 52.6%, an increase from 41.9% in 2021, indicating a rise in financial leverage[67] - As of December 31, 2022, the current ratio was approximately 1.1, down from 1.4 in 2021, while the gearing ratio increased to approximately 52.6% from 41.9% due to a decrease in equity and an increase in interest-bearing bank loans, which totaled approximately RMB5,211 million[71] Employee and Workforce - The total staff cost for the Group increased to approximately RMB799 million in 2022 from RMB769 million in the previous year, with a total of 5,945 full-time employees as of December 31, 2022[75] - The Group's workforce included approximately 1,598 engineers and technical staff, representing 26.9% of total employees, highlighting a focus on technical expertise[75] - As of December 31, 2022, male employees accounted for 67.0% and female employees accounted for 33.0% of all employees, with a commitment to increase the proportion of female employees in senior management positions[133] - The Board comprises 9 directors, all of whom are male, with a target to appoint at least 1 female director by 2024[132] Meetings and Committees - The Board held 6 meetings during the year ended December 31, 2022, with all Executive Directors attending all meetings[100] - The Audit Committee held 3 meetings in 2022, with full attendance from its members[118] - The Remuneration Committee held 2 meetings during the year ended December 31, 2022, with full attendance from its members[139] - The Risk Management Committee held 1 meeting during the year ended December 31, 2022, with full attendance from its members[144] Auditor and Financial Reporting - The total auditor's remuneration for the year ended December 31, 2022, was RMB 2,400,000, comprising RMB 1,700,000 for audit services and RMB 700,000 for non-audit services[159] - The Audit Committee recommended the re-appointment of Baker Tilly Hong Kong Limited as the external auditor for the year ending December 31, 2023[123] Integrity and Compliance - CPMC adopts a zero-tolerance policy towards corruption and fraud, emphasizing internal integrity construction[199] - The company regularly updates its rules and regulations to enhance integrity management and operational mechanisms[199]

Financial Performance - Revenue for the year ended December 31, 2022, was RMB 10,255,225 thousand, representing a 7.2% increase from RMB 9,566,382 thousand in 2021[1] - Profit attributable to equity holders of the company increased by 5.2% to RMB 486,512 thousand, compared to RMB 462,498 thousand in the previous year[3] - Basic earnings per share rose to RMB 0.437, up 5.3% from RMB 0.415 in 2021[3] - The company reported a total comprehensive income of RMB 140,649 thousand for the year, down from RMB 553,639 thousand in 2021[5] - The company reported a pre-tax profit of RMB 596,093 thousand for 2022, up from RMB 566,659 thousand in 2021, reflecting a growth of 5.2%[9] - The company’s basic earnings per share increased to RMB 0.436 in 2022 from RMB 0.414 in 2021, reflecting a growth of about 5%[35] - The company's net profit attributable to ordinary shareholders for 2022 was RMB 486,512,000, an increase from RMB 462,498,000 in 2021, representing a growth of approximately 5.4%[36] - The group’s net profit for 2022 was approximately RMB 485 million, reflecting a growth of about RMB 12 million or 2.4% year-on-year[51] Dividends - The company proposed a final dividend of RMB 0.098 per share, equivalent to 11.0 HKD cents[1] - The proposed final dividend for 2022 is RMB 0.098 per share, compared to RMB 0.095 per share in 2021, indicating a slight increase[33] - The board proposed a final dividend of RMB 0.098 per ordinary share for the year ended December 31, 2022, compared to RMB 0.095 per share in 2021, representing an increase of 3.2%[61] - The interim dividend paid on September 26, 2022, was RMB 0.120 per ordinary share, an increase from RMB 0.112 per share in 2021, reflecting a rise of 7.1%[61] - The board's recommendation for the final dividend is subject to approval at the annual general meeting scheduled for May 29, 2023[61] - The company has established a dividend entitlement deadline for shareholders on June 1, 2023, at 4:30 PM[65] Assets and Liabilities - Total non-current assets increased to RMB 6,683,943 thousand from RMB 6,225,095 thousand in 2021[6] - Total current assets rose to RMB 7,390,563 thousand, compared to RMB 6,766,719 thousand in the previous year[6] - Total liabilities increased significantly, with current liabilities reaching RMB 6,828,393 thousand, up from RMB 4,891,907 thousand in 2021[6] - Net assets attributable to equity holders decreased to RMB 5,728,402 thousand from RMB 5,819,039 thousand in 2021[7] - The total trade receivables and notes receivable at the end of 2022 amounted to RMB 2,738,201,000, up from RMB 2,488,620,000 in 2021, indicating an increase of about 10.0%[38] - The trade payables and notes payable at the end of 2022 totaled RMB 2,422,478,000, an increase from RMB 2,323,753,000 in 2021[39] Cash Flow and Investments - Operating cash flow for 2022 was RMB 1,047,125 thousand, an increase of 28.3% from RMB 816,079 thousand in 2021[9] - Net cash used in investing activities was RMB (807,463) thousand, compared to RMB (510,068) thousand in 2021, indicating a 58.2% increase in cash outflow[10] - Cash flow from operating activities after tax payments was RMB 894,550 thousand, an increase of 37.1% from RMB 652,227 thousand in 2021[9] - Cash and cash equivalents at the end of 2022 reached RMB 2,380,067 thousand, a 24.1% increase from RMB 1,917,295 thousand in 2021[11] - The group had contracted but unrecognized property, plant, and equipment amounting to RMB 463,023 thousand as of December 31, 2022, slightly up from RMB 459,311 thousand in 2021[57] Revenue Breakdown - Revenue from tinplate packaging decreased to RMB 4,212,735 thousand in 2022 from RMB 4,461,124 thousand in 2021, representing a decline of 5.6%[19] - Revenue from aluminum packaging increased significantly to RMB 5,368,106 thousand in 2022, up 20.3% from RMB 4,463,374 thousand in 2021[19] - Revenue from plastic packaging rose to RMB 674,384 thousand in 2022, a growth of 5.0% compared to RMB 641,884 thousand in 2021[19] - Revenue from mainland China accounted for RMB 9,572,088 thousand in 2022, up from RMB 8,846,844 thousand in 2021, marking a growth of 8.2%[20] - Revenue from overseas customers was RMB 683,137 thousand in 2022, a decrease of 5.0% from RMB 719,538 thousand in 2021[20] - Major customer A contributed RMB 1,380,647 thousand to total revenue in 2022, while major customer B contributed RMB 1,101,412 thousand[21] Costs and Expenses - Gross profit for the year was RMB 1,282,140 thousand, down from RMB 1,330,211 thousand in 2021[3] - Bank loan interest expenses increased significantly to RMB 101,964,000 in 2022 from RMB 71,080,000 in 2021, representing a rise of about 43%[27] - Total finance costs, including bank loan interest and lease liabilities, amounted to RMB 104,494,000 in 2022, up from RMB 87,717,000 in 2021, marking an increase of approximately 19%[27] - Research and development costs rose to RMB 93,366,000 in 2022, compared to RMB 90,053,000 in 2021, an increase of approximately 4%[29] - Other income decreased to RMB 136,476,000 in 2022 from RMB 162,672,000 in 2021, a decline of approximately 16%[25] Operational Highlights - The company operates 38 subsidiaries and has established a strong customer base, including many well-known domestic and international brands[40] - The company continues to focus on digitalization and new product development to enhance its competitive edge in the packaging industry[44] - The group plans to enhance low-carbon product innovation and environmental product development to meet consumer demand for sustainable packaging[50] - The group aims to improve its core competitive advantage through increased investment in digitalization and information development[50] Employee and Governance - As of December 31, 2022, the group had a total employee cost of approximately RMB 799 million, compared to RMB 769 million in the same period last year, reflecting an increase of 3.9%[60] - The group employed 5,945 full-time employees as of December 31, 2022, a decrease from 6,049 employees in 2021, indicating a reduction of 1.7%[59] - The employee distribution by function as of December 31, 2022, shows that production and quality control accounted for 71.7% of total employees, with 4,263 individuals in that category[60] - The company has confirmed compliance with the Corporate Governance Code for the year ending December 31, 2022[67] - The company has a Compensation Committee, Audit Committee, Nomination Committee, and Risk Management Committee, primarily composed of independent non-executive directors[66][68][69] Audit and Compliance - The company’s auditor has issued a report without reservation for the financial statements for the year ended December 31, 2021[14] - The Audit Committee has reviewed the draft consolidated financial statements for the year ending December 31, 2022, and has no objections to the annual performance announcement[67] - The preliminary financial figures for the year ending December 31, 2022, have been agreed upon by the auditors, but no assurance has been provided regarding the preliminary performance announcement[71] - The annual report for 2022 will be published on the stock exchange and the company's website in due course[71] Foreign Exchange and Risk Management - The group’s foreign exchange risk is minimal as most assets, revenues, and cash balances are settled in RMB, with only a portion in USD, EUR, and HKD[58]

Financial Performance - Revenue for the six months ended June 30, 2022, was RMB 5,226,576, representing an increase of 11.7% compared to RMB 4,678,299 in the same period of 2021[11]. - Profit attributable to equity holders of the Company for the same period was RMB 267,469, up 7.3% from RMB 249,383 in 2021[11]. - Earnings per share increased to RMB 0.240, a rise of 7.1% from RMB 0.224 in the previous year[11]. - The EBITDA for the six months ended June 30, 2022, was RMB 564,856, showing a slight decrease from RMB 573,465 in 2021[15]. - Gross profit for the same period was RMB 620,720, a decrease of 6.2% from RMB 661,523 in 2021[30]. - Profit for the period was RMB 262,461, representing a slight increase of 1.0% from RMB 257,712 in the previous year[31]. - Total comprehensive income for the period was RMB 70,467, a decrease of 76.0% compared to RMB 294,099 in the same period of 2021[31]. - The net profit for the Group was approximately RMB 262 million, reflecting a year-on-year increase of approximately 1.8%[177]. - The Group's profit before tax for the first half of 2022 was approximately RMB 301 million, a decrease of about RMB 20 million or 6.3% compared to RMB 321 million in the same period of 2021[181]. Revenue Breakdown - Revenue from aluminum packaging significantly increased to RMB 2,748,790,000, up 28.5% from RMB 2,140,974,000 in 2021[62]. - The sales revenue from aluminium packaging was approximately RMB2,749 million in the first half of 2022, representing an increase of approximately 28.4% compared to the same period in 2021, and accounted for approximately 52.6% of total sales[152]. - The sales revenue from two-piece cans was approximately RMB2,655 million in the first half of 2022, reflecting a year-on-year increase of approximately 29.4%[153]. - The sales revenue from tinplate packaging was approximately RMB2,169 million in the first half of 2022, representing a year-on-year decrease of approximately 3.6%[158]. - The sales revenue from steel barrels was approximately RMB713 million in the first half of 2022, indicating a year-on-year increase of approximately 6.6%[161]. Assets and Liabilities - Total non-current assets as of June 30, 2022, amounted to RMB 6,342,286, an increase from RMB 6,225,095 at the end of 2021[33]. - Current liabilities increased significantly to RMB 6,280,666 from RMB 4,891,907 at the end of 2021, reflecting a rise of 28.3%[33]. - As of June 30, 2022, total non-current liabilities decreased to RMB 1,414,185,000 from RMB 2,280,868,000 as of December 31, 2021, representing a reduction of approximately 38%[35]. - Net assets as of June 30, 2022, were RMB 5,791,831,000, slightly down from RMB 5,819,039,000 as of December 31, 2021, indicating a decrease of about 0.5%[35]. - Interest-bearing bank borrowings increased to RMB 4,856,643,000 as of June 30, 2022, compared to RMB 4,214,282,000 as of December 31, 2021, reflecting an increase of approximately 15.2%[136]. Cash Flow and Investments - Net cash used in operating activities amounted to RMB 224,572,000, compared to RMB 185,463,000 in the same period of 2021[40]. - Net cash used in investing activities was RMB 321,802,000, slightly higher than RMB 300,303,000 in 2021[41]. - The company reported a net decrease in cash and cash equivalents of RMB 113,462,000, compared to a decrease of RMB 534,182,000 in the same period of 2021[42]. - The Group acquired property, plant, and equipment at a total cost of RMB 196,154,000 during the six months ended June 30, 2022, a decrease of 6.5% from RMB 209,850,000 in the same period of 2021[84]. Strategic Initiatives - The Company is focused on expanding its market presence and enhancing product offerings to drive future growth[10]. - New product development initiatives are underway, aimed at improving operational efficiency and meeting customer demands[10]. - The Company is exploring potential mergers and acquisitions to strengthen its market position and diversify its product portfolio[10]. - Management remains optimistic about future performance, with strategic plans in place to navigate market challenges and capitalize on growth opportunities[10]. - The Group is expanding production capacity with new factories in Shenyang and Kunming, and a second production line in Belgium expected to commence operations within the year[153]. Shareholder Information - The company declared a final dividend of RMB 105,775,000 for the year 2021, which was paid during the reporting period[37]. - The interim dividend per ordinary share increased to RMB 0.120 for the six months ended June 30, 2022, compared to RMB 0.112 for the same period in 2021, reflecting a growth of 7.1%[79]. Market and Competitive Position - The Company continues to prioritize innovation and technology advancements in its operations to enhance competitiveness[10]. - The Group maintains a strong customer base, including renowned brands such as Anheuser-Busch InBev, Coca-Cola, and Tsingtao Brewery[153].

Financial Performance - For the year ended December 31, 2021, revenue reached RMB 9,566,382, representing a 30.2% increase from RMB 7,344,747 in 2020[3] - Profit attributable to equity holders of the Company was RMB 462,498, an 18.8% increase compared to RMB 389,388 in 2020[3] - Earnings per share increased to RMB 0.415, up 20.3% from RMB 0.345 in the previous year[3] - The Group achieved record highs in both sales revenue and net profit, with sales revenue increasing by 30.2% year-on-year[29] - The Group's revenue for the year ended December 31, 2021, was approximately RMB9,566 million, representing a year-on-year increase of approximately 30.2% from RMB7,345 million in 2020[75] - Net profit for the same period was approximately RMB473 million, an increase of approximately 20.2% compared to RMB394 million in 2020[76] Sales Revenue by Segment - The Group's aluminium packaging business achieved a sales revenue of approximately RMB4,463 million in 2021, representing a 43.7% increase from RMB3,107 million in 2020, accounting for 46.7% of overall sales[55] - The two-piece can business generated sales revenue of approximately RMB4,288 million in 2021, a 45.5% increase from RMB2,948 million in 2020[56] - The tinplate packaging business recorded sales revenue of approximately RMB4,461 million in 2021, up 21.9% from RMB3,660 million in 2020, accounting for 46.6% of overall sales[59] - The steel barrels segment saw sales revenue of approximately RMB1,427 million in 2021, marking a 49.0% increase from RMB958 million in 2020[61] - The milk powder can business generated sales revenue of approximately RMB737 million in 2021, an 8.7% increase from RMB678 million in 2020[62] - The aerosol cans segment achieved sales revenue of approximately RMB617 million in 2021, representing a 28.0% increase from RMB482 million in 2020[63] - The sales revenue from the plastic packaging business was approximately RMB642 million in 2021, a year-on-year increase of approximately 11.1%[70] Production and Capacity Expansion - CPMC launched the second production line of the Tianjin can-making project in April 2021, enhancing production capacity[23] - The Group is expanding its production capacity with new sites launched in Tianjin and Wuhan, and a new plant in Kunming under construction[40] - The Group is focusing on technological innovation, introducing high-speed packaging production lines and advanced testing equipment to enhance automation[44] Strategic Initiatives and Collaborations - A strategic cooperation agreement was signed with Blue Moon in August 2021 to deepen collaboration in sustainable development and R&D[25] - A strategic cooperation agreement was reached with Blue Moon, successfully bidding for the second phase of the Blue Moon project in Chongqing[43] - The Group's strategic initiatives include enhancing refined management and credit risk control to secure raw material supply[38] Risk Management and Governance - The Group's risk management framework was reviewed, focusing on major risks such as credit risk and market risk[160] - The Board assessed the effectiveness of the Group's risk management and internal control systems during the financial year ended December 31, 2021, and found them to be adequate and effective[171] - The Audit Committee monitored the effectiveness of the Group's risk management and internal control systems throughout the year[164] Shareholder Communication and Governance - The Board recognized the importance of effective communication with shareholders and investors to build confidence and attract new investors[176] - The Company emphasizes regular communication with institutional shareholders through meetings and presentations during financial results announcements[180] - The Company is committed to transparency by updating its website regularly and disclosing information in a timely manner[180] - The Company will hold its annual general meeting on May 30, 2022, providing shareholders the opportunity to communicate directly with the Board and management[177] Financial Ratios and Expenditures - The Group's capital expenditure for the year was approximately RMB678 million, with the two-piece cans project accounting for approximately 44.6% of this expenditure[85] - The Group's gearing ratio improved to approximately 41.9% as of December 31, 2021, down from approximately 44.5% in 2020[84] - The effective income tax rate decreased to approximately 16.4% in 2021 from approximately 22.3% in 2020[78] Employee Costs - The total staff cost for the Group increased to approximately RMB769 million in 2021 from RMB646 million in 2020[88] Audit and Compliance - The total auditor's remuneration for Baker Tilly Hong Kong Limited for the year ended December 31, 2021, was RMB 2,400,000, comprising RMB 1,700,000 for audit services and RMB 700,000 for non-audit services[174] - The Audit Committee held 3 meetings during the year ended 31 December 2021, with full attendance from its members[136] - The Company Secretary ensures that all Directors receive adequate and timely information for decision-making[121]

2020 ANNUAL REPORT 年度報告 ANNUAL REPORT 2020 Vision 願景 Strive to become the leading manufacturer of packaging products of integrated consumer goods in China 致力成為中國綜合消費品包裝行業領導者 Financial Highlights 財務摘要 | | | For the year ended 31 December | | | | --- | --- | --- | --- | --- | | | | 截至12月31日止年度 | | Variance | | | | 2020 | 2019 | 差異 | | | | RMB'000 | RMB'000 | % | | | | 人民幣千元 | 人民幣千元 | | | Revenue | 收入 | 7,344,747 | 7,287,271 | 0.8 | | Profit attributable to equity | 本公司股本持有人 | | | | | holders of the Company | ...

Revenue Performance - Revenue for the six months ended June 30, 2020, was RMB 3,376,807, a decrease of 8.3% compared to RMB 3,680,476 for the same period in 2019[8] - Revenue for the six months ended June 30, 2020, was RMB 3,376,807, a decrease of 8.2% compared to RMB 3,680,476 for the same period in 2019[22] - Revenue for the six months ended June 30, 2020, was RMB 3,376,807, a decrease of 8.25% from RMB 3,680,476 in the same period of 2019[58] - The Group's revenue from Mainland China was RMB 3,282,735, while overseas revenue was RMB 94,072 for the six months ended June 30, 2020[53] - For the three months ended June 30, 2020, the company reported revenue of RMB 988,207,000, an increase from RMB 757,848,000 for the same period in 2019, representing a growth of approximately 30.4%[111] Profitability - Profit attributable to equity holders of the Company increased by 7.4% to RMB 182,677 from RMB 170,114 year-on-year[8] - Profit for the period increased to RMB 183,021, compared to RMB 174,984 in 2019, representing a growth of 4.4%[22] - The company reported a profit for the period of RMB 182,677,000 for the six months ended June 30, 2020[36] - Profit before income tax for the six months ended June 30, 2020, was RMB 230,248, slightly up from RMB 229,530 in 2019, reflecting a growth of 0.3%[38] - The profit attributable to ordinary equity holders was RMB 182,677,000, an increase from RMB 170,114,000 for the same period in 2019, representing a growth of approximately 4.6%[72] Earnings Per Share - Earnings per share rose to RMB 0.159, up 9.7% from RMB 0.145 in the previous year[8] - Basic earnings per share attributable to ordinary equity holders was RMB 0.159, up from RMB 0.145 in the previous year, indicating a 9.7% increase[22] Expenses and Costs - Selling and marketing expenses decreased to RMB (142,257) from RMB (150,321), showing a reduction of 5.4%[22] - Finance costs decreased to RMB (50,082) from RMB (64,203), reflecting a reduction of 22%[22] - Administrative expenses slightly increased to RMB (155,104) from RMB (152,182), indicating a 1.9% rise[22] - The Group recognized a net provision for impairment losses on receivables of RMB 733,000 for the six months ended June 30, 2020, compared to a net reversal of RMB 33,000 in the same period of 2019[54] - Profit before income tax for the six months ended June 30, 2020, was impacted by a cost of sales amounting to RMB 2,826,183, down from RMB 3,107,267 in 2019[63] Cash Flow and Liquidity - Cash generated from operations increased significantly to RMB 254,207, compared to RMB 145,904 in the same period of 2019, marking a growth of 74.4%[38] - Net cash generated from operating activities was RMB 184,184 for the six months ended June 30, 2020, compared to a net cash outflow in 2019[40] - The total cash and cash equivalents at the end of the period reached RMB 1,173,030, a significant increase from RMB 540,178 in 2019[42] - Cash and cash equivalents increased from RMB 678,514,000 as of December 31, 2019, to RMB 1,173,030,000 as of June 30, 2020, representing an increase of approximately 73.2%[26] Assets and Liabilities - Total non-current assets decreased from RMB 7,418,529,000 as of December 31, 2019, to RMB 5,946,106,000 as of June 30, 2020, representing a decline of approximately 20.0%[26] - Current assets increased significantly from RMB 3,899,002,000 as of December 31, 2019, to RMB 6,230,371,000 as of June 30, 2020, an increase of approximately 59.7%[26] - Total liabilities increased from RMB 6,102,538,000 as of December 31, 2019, to RMB 7,049,582,000 as of June 30, 2020, reflecting an increase of approximately 15.5%[28] - Interest-bearing bank borrowings rose from RMB 2,480,470,000 as of December 31, 2019, to RMB 3,119,082,000 as of June 30, 2020, an increase of approximately 25.8%[28] - The company's net assets decreased from RMB 5,214,993,000 as of December 31, 2019, to RMB 5,126,895,000 as of June 30, 2020, a decline of approximately 1.7%[28] Shareholder Returns - The company declared an interim dividend of RMB 0.082 per ordinary share for the six months ended June 30, 2020, up from RMB 0.073 per share in the same period of 2019, marking an increase of approximately 12.3%[70] - The total dividends declared for the six months ended June 30, 2020, amounted to RMB 144,745,000, compared to RMB 84,749,000 for the same period in 2019, indicating a significant increase of 70.7%[70] Strategic Initiatives - Future outlook indicates a focus on expanding market presence and enhancing product offerings[8] - The Company is investing in new product development to meet changing consumer demands[8] - Strategic initiatives include exploring potential mergers and acquisitions to strengthen market position[8] - The management is committed to improving operational efficiency to mitigate the impact of market challenges[8] - The Company aims to leverage technology advancements to enhance production capabilities and reduce costs[8] Market and Product Performance - Tinplate packaging revenue was RMB 1,662,913, aluminum packaging revenue was RMB 1,478,906, and plastic packaging revenue was RMB 234,988 for the six months ended June 30, 2020[53] - In the first half of 2020, the sales revenue from aluminum packaging was approximately RMB 1,479 million, a decrease of approximately 14.1% compared to RMB 1,721 million in the same period of 2019, accounting for approximately 43.8% of total sales[184] - The sales revenue from the two-piece cans business was approximately RMB 1,408 million, a decrease of approximately 13.7% compared to RMB 1,631 million in the same period of 2019[187] - The sales revenue from the tinplate packaging business amounted to approximately RMB 1,663 million, a decrease of approximately 1.7% from RMB 1,692 million in the same period of 2019, accounting for approximately 49.2% of total sales[193] - The milk powder cans business generated sales revenue of approximately RMB 333 million in the first half of 2020, representing a year-on-year increase of approximately 7.4% from RMB 310 million in the same period of 2019[200] Investments and Acquisitions - The Group acquired additional equity interests in two subsidiaries for a total consideration of approximately RMB 131,899,000, resulting in a decrease in non-controlling interests of approximately RMB 135,451,000[20] - The effective equity interest in Epoch Packaging increased from 54.7% to 68.8% after acquiring additional equity for approximately RMB 78,500,000[20] - The effective equity interest in Wuxi Huapeng increased from 61.48% to 84.48% after acquiring additional equity for RMB 53,399,000, with a decrease in non-controlling interests of approximately RMB 71,043,000[25] Financial Reporting and Compliance - The financial information is prepared in accordance with HKAS 34, and does not include all disclosures required in annual financial statements[45] - The interim financial information is unaudited but has been reviewed by the Audit Committee and the Company's auditor[46] - The accounting policies adopted for the interim financial information are consistent with those used in the annual financial statements for the year ended December 31, 2019[48] - No new standards or interpretations that are not yet effective have been applied by the Group[48] - The amendments to HKFRS 3, HKFRS 9, HKAS 1, and HKAS 8 have not had a material effect on the Group's results or financial position[48]

Financial Performance - For the year ended December 31, 2019, the Group's revenue was approximately RMB 7,287 million, representing a year-on-year increase of 10.6%[35] - The profit attributable to shareholders of the Company for the same period was approximately RMB 302 million, an increase of 18.4% from RMB 255 million in 2018[35] - Basic earnings per share for the year ended December 31, 2019, amounted to RMB 0.26, up from RMB 0.22 in 2018, reflecting an increase of 18.2%[35] - The Group's revenue for the year ended December 31, 2019, was approximately RMB7,287 million, representing a year-on-year increase of approximately 10.6% from RMB6,591 million in 2018[72] - The net profit for the same period was approximately RMB307 million, reflecting a year-on-year increase of approximately 15.6% compared to RMB265 million in 2018[73] - The gross profit margin improved to approximately 15.1% in 2019, up from approximately 14.7% in 2018, due to increased sales scale and reduced unit costs[72] - The Group recorded stable growth in both annual revenue and profit, with an increase in product gross profit margin and a decrease in selling and administrative expense rate[192] Sales Revenue Breakdown - The Group's sales revenue from aluminium packaging reached approximately RMB3,309 million in 2019, representing a year-on-year increase of approximately 34.5% and accounting for about 45.4% of total sales[52] - Sales revenue from the two-piece can business was approximately RMB3,146 million, reflecting a year-on-year increase of approximately 38.0%[53] - The tinplate packaging business recorded sales revenue of approximately RMB3,390 million, a decrease of approximately 3.8% from 2018, accounting for about 46.5% of total sales[57] - Sales revenue from the plastic packaging segment decreased by approximately 3.2% year on year, attributed to a significant drop in plastic particle prices[42] - The Group's sales revenue from aerosol cans increased by approximately 8.2% to approximately RMB384 million in 2019[62] - The milk powder can business generated sales revenue of approximately RMB589 million, a slight decrease of approximately 0.8% year on year[59] - The Group's steel barrel business achieved sales revenue of approximately RMB882 million, representing a year-on-year increase of approximately 8.2%[58] - Sales revenue from three-piece beverage cans decreased by approximately 37.7% year-on-year to approximately RMB329 million in 2019, down from approximately RMB528 million in 2018[64] - The sales revenue from round and square shaped cans was approximately RMB240 million in 2019, a decrease of approximately 5.5% from RMB254 million in 2018[65] - The sales revenue from printed and coated tinplates was approximately RMB245 million, representing a year-on-year decrease of approximately 21.2% from RMB311 million in 2018[67] - The plastic packaging business generated sales revenue of approximately RMB588 million, a decrease of approximately 3.2% from RMB608 million in 2018, accounting for approximately 8.1% of total revenue[68] Investments and Projects - The Group's first overseas two-piece can project in Belgium was successfully put into operation at the end of 2019[29] - The installation of a new production line for Belgium's two-piece can project was completed in December 2019[25] - The Group acquired a 23% equity interest in Wuxi Huapeng held by Crown Asia Pacific in May 2019[21] - Capital expenditure for the year was approximately RMB797 million, with significant investments in projects such as the Belgium project (30.9%) and two-piece cans project (27.3%)[81] - The Group actively explored overseas expansion, initiating trial production in a two-piece can factory in Belgium as part of its internationalization strategy[192] Corporate Governance - The Company has complied with all code provisions of the Corporate Governance Code since its listing on 16 November 2009[99] - The Board held 11 meetings during the year ended 31 December 2019, with full attendance from executive directors[119] - The roles of Chairman and General Manager are separated, with Mr. Zhang Xin as Chairman and Mr. Zhang Ye as General Manager[113] - The Company has appointed three independent non-executive Directors, ensuring adequate checks and balances in governance[106] - The Company held its 2019 annual general meeting on June 3, 2019, with attendance rates for executive directors ranging from 50% to 100%[122] - The Audit Committee held 5 meetings during the year ended December 31, 2019, with all members attending at least 60% of the meetings[136] - The Nomination Committee conducted 2 meetings in 2019, with full attendance from its members[151] - The Company Secretary provided monthly updates on operational performance to all Directors to support informed decision-making[134] - Directors' and officers' liability insurance was arranged for all Directors and senior management for the year 2019/2020[127] - The Company has a Board diversity policy that emphasizes merit-based appointments while considering diversity factors such as gender and experience[150] - The independent non-executive Directors represent one-third of the Board, ensuring a balanced governance structure[130] - The Audit Committee reviewed the financial statements and internal control systems, ensuring compliance and effectiveness[143] - The Company Secretary is responsible for maintaining minutes of Board meetings, which are available for inspection by Directors[125] - The Company has adopted a corporate governance policy that was reviewed and deemed effective by the Board during the year[132] - The Company held 2 meetings of the Remuneration Committee during the year ended 31 December 2019, with full attendance from members[156] - The total auditor's remuneration for the year ended 31 December 2019 was RMB 2,400,000, comprising RMB 1,700,000 for audit services and RMB 700,000 for non-audit services[176] - The Board conducted a review of the effectiveness of the Group's risk management and internal control systems during the financial year ended 31 December 2019[172] - The Group implemented the SAP system to enhance operational efficiency and improve internal control systems[175] - The Company recognizes the importance of effective communication with shareholders and investors to build confidence and attract new investors[178] - The Company will declare dividends based on its financial performance, liquidity, and capital requirements, with discretion on the form and frequency of payments[188] - The Risk Management Committee held 1 meeting during the year ended 31 December 2019, with full attendance from its members[162] - The Company has adopted an inside information procedure to ensure the accuracy and timeliness of public disclosures[170] - The Board is satisfied with the adequacy of resources and qualifications of the Group's accounting and financial reporting staff[173] - The Company has not made any changes to its Articles during the year ended 31 December 2019[185] Workforce and Training - The Group's workforce consists of 4,617 males (69%) and 2,075 females (31%), with 10% in senior management, 24% in middle management, and 66% as general employees[196] - Employee turnover rates were 23% for males and 11% for females, with the highest turnover at 15% for those aged under 30[198] - The Group organized targeted training programs in 2019, including 5 sessions of the "I am professor" series for 65 trainees to improve leadership skills[199] - The employee demographic shows that 27% are aged under 30, 66% are aged 30-50, and 7% are over 50, indicating a relatively young workforce[196] Product Quality and Innovation - The Group has established a comprehensive product quality control system that meets US and EU standards, ensuring high-quality packaging products[191] - The Group holds numerous packaging technology patents in China and has received multiple international packaging awards, reflecting its commitment to innovation[191] - The Group emphasizes sustainable development through the adoption of new technologies and materials, focusing on source control and process management[191]

Interim Report 中期報告 2019 CPMC H OLDI NGS LI MITE D 中糧包裝控股有限公司 CPMC CPMC HOLDINGS LIMITED 中糧包裝控股有限公司 (Incorporated in Hong Kong with limited liability) Stock code: 906 （於香港註冊成立之有限公司） 股份代號：906 2019 中期報告 Interim Report Contents 目錄 CORPORATE INFORMATION 公司資料 2 FINANCIAL HIGHLIGHTS 財務摘要 5 UNAUDITED INTERIM FINANCIAL INFORMATION 未經審核中期財務資料 Condensed Consolidated: 簡明綜合： Statement of Profit or Loss 損益表 6 Statement of Comprehensive Income 全面收益表 7 Statement of Financial Position 財務狀況表 8 Statement of Changes in Equity ...