Financial Reporting - Da Ming International Holdings Limited will publish its annual report for the year ending December 31, 2024, on April 24, 2025[2] Employee Incentive Plans - The company has a share incentive plan that allows selected employees to receive up to 30% of their awarded shares on the third anniversary of the grant date[3] - On the fourth anniversary, selected employees may receive up to 60% of their awarded shares under the same plan[4] - The remaining awarded shares will fully vest on the fifth anniversary, subject to performance criteria and continued employment[4]

目錄 | 企業資料 | 2 | | --- | --- | | 財務及營運摘要 | 3 | | 主席報告書 | 6 | | 管理層討論及分析 | 13 | | 企業管治報告 | 17 | | 董事及公司秘書資料 | 38 | | 董事會報告 | 44 | | 獨立核數師報告 | 55 | | 合併財務狀況表 | 62 | | 合併綜合收益表 | 64 | | 合併權益變動表 | 65 | | 合併現金流量表 | 66 | | 合併財務報表附註 | 67 | | 財務摘要 | 152 | 企業資料 董事會 執行董事 周克明先生 （主席） 徐霞女士 鄒曉平先生 張鋒先生 錢立先生 （於二零二四年十二月二十日辭任） 倪晨先生 （於二零二四年十二月二十日辭任） 梁宗仁先生 （於二零二四年六月十二日獲委任） 陳寧先生 （於二零二四年六月十二日獲委任） 非執行董事 盧健先生 朱保民先生 （於二零二四年十二月二十日辭任） 路剛先生 （於二零二四年十二月二十日獲委任） 獨立非執行董事 卓華鵬先生 華民教授 （於二零二四年十二月二十日辭任） 胡學發先生 陳欣教授 汪六七先生 （於二零二四年六月十二日獲委任） 公司秘書 梁文輝先 ...

尊敬的各位投资者和分析师朋友大家下午好欢迎大家参加大明国际2024全年业绩说明会接下来由我对公司业务的发展和全年业绩以及未来的发展规划做一个简要介绍之后将由管理层回答大家的提问大明国际是中国领先的全链路金属加工服务平台累计为超过7万家广泛分布在30亿个行业的客户提供专业化 和定制化的金属材料加工以及零部件和高端装备的制造服务截止目前中国宝五集团持有上市公司16.28%的股份是公司的重要股份另外日本商社板核心也持有上市公司2.29%的股份自2022年开始公司已经连续三年入围中国企业500项公司成立于1988年 今年是大明成立的第37个年头37年以来公司主要经历了两次重要的转型第一次是在2022年是公司由专业的不锈钢贸易企业转型为专业的不锈钢加工服务企业那么集团的第一个加工中心江苏大明开始成立并开始在全国进行网络布局第二次转型是2010年上市之后公司进行了产业链延伸一则是由精品种由不锈钢拓展至碳钢 二则由基础加工将复杂加工以及零部件制作和成品制造转型那么期间公司也引入了战略投资人中国宝武集团的宝钢和太钢以及日本商社返核新业开启了从业务技术和资本的全方位合作那么当前公司正在经历第三次的转型即经营的国际化我们将携手产 ...

2024年，全国粗钢表观消费量同比下降5.4%，出口量虽创历史新高，但价格同比下跌逾19%，企业利润 空间被严重挤压。与此同时，随着国内制造业转型升级的持续推进，高端钢材、特种钢材的需求占比逐 步提升，为钢铁行业提供了新的增长点。 大明国际（01090.HK）作为不锈钢与碳钢加工领域的领军企业，同样受大宗商品价格下跌及需求不足 影响。公司2024年实现营收人民币464.53亿元，亏损3.85亿元。分析人士认为，这一表现与行业整体趋 势一致，反映了外部环境的严峻性，而非企业内生动力不足。尽管短期业绩承压，大明国际在战略调整 与管理优化上展现出积极姿态。 大明国际依托国内服务网络优势，积极布局海外业务，提升全球供应链竞争力。目前产品已销售至澳 洲、美国、韩国、日本、欧洲、南美洲及东南亚等主要国家及地区。2024年11月大明国际董事会主席周 克明带队在荷兰阿姆斯特丹举行欧洲业务推广会，这是继成立欧洲公司和国内召开海外业务推广会后国 际化进程的又一阶段性成果。 海外业务板块方面，尽管面临原材料价格下行的局面，公司2024年海外营收仍达14.8亿元，与上一年度 基本持平。出口业务收入在整体营收中的占比呈稳步上升态势，展 ...

Financial Performance - Total revenue for the year ended December 31, 2024, was RMB 46,453,309 thousand, a decrease of 8.1% compared to RMB 50,560,063 thousand in 2023[2] - Gross profit for the same period was RMB 685,686 thousand, reflecting a decline of 25.6% from RMB 921,534 thousand in the previous year[3] - The company reported a total annual loss of RMB 385,139 thousand, which is an increase of 102.2% compared to a loss of RMB 190,493 thousand in 2023[3] - The basic and diluted loss per share for the year was RMB 0.33, compared to RMB 0.17 in 2023[3] - The net loss attributable to shareholders for the year ended December 31, 2024, was RMB 414,579 thousand, compared to a loss of RMB 219,068 thousand in 2023, indicating a significant increase in losses[26] - The group reported a total segment loss of RMB 258,406,000 for the year ended December 31, 2024, compared to a loss of RMB 27,267,000 for the year ended December 31, 2023[19] - The company recorded a net loss of approximately RMB 385,100,000 for the year ending December 31, 2024, a 102.2% increase compared to a net loss of approximately RMB 190,500,000 in 2023[45] Revenue Breakdown - Sales revenue from the processing segment was RMB 43,686,749,000 for the year ended December 31, 2024, compared to RMB 47,265,587,000 for the previous year, a decline of about 7.5%[18] - The manufacturing segment reported sales revenue of RMB 1,455,604,000 for the year ended December 31, 2024, an increase from RMB 1,204,642,000 in the previous year, reflecting a growth of approximately 20.8%[18] - Stainless steel sales volume increased by 0.7% to 2,056,957 tons, while carbon steel sales volume rose by 4.2% to 5,059,186 tons[2] - Stainless steel processing sales volume increased by 0.7% to approximately 2,057,000 tons in 2024 from 2,043,000 tons in 2023, while processing volume decreased by 1.9% to approximately 3,180,000 tons[45] - Carbon steel processing sales volume rose by 4.2% to approximately 5,059,000 tons in 2024 from 4,855,000 tons in 2023, with processing volume decreasing by 1.6% to approximately 4,785,000 tons[45] Cash Flow and Assets - The operating cash flow for the year was RMB 439,462 thousand, significantly higher than RMB 67,280 thousand in 2023[8] - Cash and cash equivalents at year-end decreased to RMB 153,891 thousand from RMB 265,311 thousand at the beginning of the year[8] - Total assets decreased to RMB 12,970,475 thousand from RMB 13,188,882 thousand in the previous year[4] - Total liabilities increased to RMB 10,105,677 thousand, up from RMB 9,907,634 thousand in 2023[6] - Current liabilities exceeded current assets by approximately RMB 1,270,595,000 as of December 31, 2024, compared to RMB 562,329,000 as of December 31, 2023[10] - Cash and cash equivalents decreased from RMB 265,311,000 as of December 31, 2023, to RMB 153,891,000 as of December 31, 2024[10] Expenses and Costs - The total expenses for the year ended December 31, 2024, amounted to RMB 46,711,715 thousand, a decrease of 7.4% from RMB 50,587,330 thousand in 2023[20] - The cost of raw materials consumed was RMB 44,411,966 thousand, down from RMB 48,311,029 thousand, representing a reduction of 6.0%[20] - Distribution costs increased from approximately RMB 493.3 million in 2023 to approximately RMB 506.4 million in 2024, primarily due to rising transportation costs[59] Financial Position - The company’s debt-to-equity ratio was 71.42% as of December 31, 2024, compared to 68.37% in 2023, indicating an increase in financial leverage[67] - As of December 31, 2024, accounts payable increased to RMB 1,082,057,000 from RMB 707,959,000 in 2023, representing a growth of approximately 52.8%[32] - The aging analysis of trade payables shows that payables within 6 months rose to RMB 972,012,000 in 2024 from RMB 688,721,000 in 2023, an increase of about 41.3%[33] Strategic Initiatives - The group plans to improve operational performance and cash flow by increasing sales volume and enhancing inventory management[12] - The company aims to enhance profitability through improved customer service, operational efficiency, and technological innovation, with increased investment in advanced processing equipment and technology[36] - A strategic cooperation agreement was signed with China CRRC and Anomi Marine Technology to develop a strong supply system for clean energy market products[43] - The company successfully exported condenser equipment to Spain, showcasing its competitive edge in the condenser manufacturing sector[37] - A new processing base will be established in Chongqing through a tripartite joint venture agreement, enhancing service capabilities in the southwestern region[42] - The opening of the Yangtze River terminal marks a significant milestone in the company's development, enhancing its high-end manufacturing service capabilities[44] Governance and Compliance - The company has adhered to the Corporate Governance Code as per the Hong Kong Stock Exchange's Listing Rules throughout the year[70] - The audit committee reviewed the audited consolidated annual results for the year ending December 31, 2024, confirming compliance with applicable accounting standards[74] - The company did not purchase, sell, or redeem any of its listed securities during the year[71] Employment and Workforce - As of December 31, 2024, the company employed 6,738 staff, a decrease of approximately 6.8% from 7,231 in 2023[68] - The workforce comprised 4,993 production and technical personnel (74.1%), 1,114 sales personnel (16.5%), and 631 management and finance personnel (9.4%)[68] Dividends - The company did not declare any dividends for the year ended December 31, 2024, consistent with the previous year[28] - No interim dividend was declared for the year, consistent with 2023, and no final dividend is recommended for the year ending December 31, 2024[69] Future Outlook - The company anticipates continued growth in overseas business revenue and stable income from stainless steel processing services[46] - The company plans to enhance its service network and improve processing capabilities through advanced automation equipment and digital transformation of existing production facilities[46]

Financial Performance - Total revenue for the six months ended June 30, 2024, was RMB 22,800,874 thousand, a decrease of 7.0% compared to RMB 24,504,930 thousand in 2023[3]. - Comprehensive income for the period decreased by 19.0% to RMB 9,424 thousand from RMB 11,628 thousand in 2023[3]. - For the six months ended June 30, 2024, the company recorded a net profit of approximately RMB 9.4 million, a decrease of about 19.0% compared to RMB 11.6 million for the same period in 2023[16]. - Revenue for the six months ended June 30, 2024, was approximately RMB 22,800,874 thousand, a decrease from RMB 24,504,930 thousand for the same period in 2023, representing a decline of 6.9%[32]. - The company reported a net profit of RMB 9,424 thousand for the period, down from RMB 11,628 thousand in the same period of 2023[46]. - Basic and diluted earnings per share were both RMB 0.35, compared to RMB 0.57 in the previous year[46]. - The income tax expense for the six months ended June 30, 2024, was RMB 20,798 thousand, an increase from RMB 13,520 thousand in the same period of 2023, representing a growth of 53.4%[16]. Sales and Production - Stainless steel sales volume increased by 0.9% to 965,145 tons, while processing volume decreased by 1.5% to 1,524,910 tons[6]. - Carbon steel sales volume rose by 7.1% to 2,382,729 tons, with processing volume decreasing by 1.8% to 2,292,416 tons[6]. - The stainless steel processing business sales volume increased from approximately 957,000 tons for the six months ended June 30, 2023, to approximately 965,000 tons for the same period in 2024, representing a growth of about 0.9%[21]. - The carbon steel processing business sales volume rose from approximately 2,225,500 tons for the six months ended June 30, 2023, to approximately 2,382,729 tons for the same period in 2024, reflecting an increase of about 7.1%[21]. Costs and Expenses - Other income decreased from approximately RMB 41,300 thousand in the first half of 2023 to approximately RMB 27,900 thousand in the first half of 2024, primarily due to a reduction in government subsidies received[34]. - Distribution costs slightly increased from approximately RMB 225,400 thousand in the first half of 2023 to approximately RMB 228,300 thousand in the first half of 2024, mainly due to higher employee benefit expenses[35]. - Administrative expenses rose from approximately RMB 140,600 thousand in the first half of 2023 to approximately RMB 176,400 thousand in the first half of 2024, attributed to increased employee benefit expenses[36]. - Financing costs increased from approximately RMB 119,300 thousand in the first half of 2023 to approximately RMB 122,300 thousand in the first half of 2024, mainly due to a decrease in interest income received[37]. - The company's cost of sales, distribution costs, and administrative expenses totaled RMB 22,691,071 thousand for the six months ended June 30, 2024, a decrease of 7.0% from RMB 24,406,674 thousand in the same period of 2023[14]. Assets and Liabilities - The total asset value of the group as of June 30, 2024, was approximately RMB 16.33 billion, with equity attributable to shareholders amounting to approximately RMB 2.97 billion[20]. - Total liabilities increased to RMB 13,039,051 thousand, up 31.5% from RMB 9,907,634 thousand as of December 31, 2023[45]. - As of June 30, 2024, the company's total borrowings were approximately RMB 10,266,000 thousand, with a debt-to-equity ratio of 75.15% compared to 68.37% as of December 31, 2023[41]. - The company's trade payables rose to RMB 885,479 thousand as of June 30, 2024, compared to RMB 707,959 thousand as of December 31, 2023, representing an increase of approximately 25.0%[68]. - The total borrowings as of June 30, 2024, reached RMB 10,265,931 thousand, up from RMB 7,358,725 thousand as of December 31, 2023, indicating a significant increase of around 39.0%[67]. Strategic Initiatives - The company has expanded its production capacity in key regions to enhance regional competitive advantages and support overall performance growth strategies[11]. - The company has invested in advanced processing equipment and technology to improve processing and manufacturing service capabilities, which also helps to increase product premiums[11]. - The company aims to enhance profitability through continuous improvement in customer service, operational efficiency, and technological innovation[11]. - The company has initiated strategic collaborations, including partnerships with 兰石重装 and 东方电机, to enhance manufacturing capabilities[15]. - A significant order for tank prefabrication was received from a client in the Democratic Republic of the Congo, showcasing the international competitiveness of Chinese manufacturing[13]. Risk Management - The company faced foreign exchange risks due to transactions denominated in foreign currencies, primarily USD, EUR, HKD, and JPY, and management is monitoring exchange rate fluctuations closely[40]. - The company continues to assess the impact of market risks, including currency risk and fair value interest rate risk, on its operations[58]. - The company has not made any changes to its risk management policies since the end of the last fiscal year, maintaining its approach to financial risk factors[58]. Employment and Shareholding - As of June 30, 2024, the company employed 7,011 staff, an increase from 6,719 in 2023, with production and technical personnel making up 73.4% of the workforce[90]. - Major shareholders include Lianhao Group Limited with 788,435,000 shares, representing 61.86% of the issued share capital, and China Baowu Steel Group Co., Ltd. with 207,500,000 shares, representing 16.28%[95]. - The company’s shareholding structure indicates a strong concentration of ownership, with the top three shareholders holding over 86% of the total shares[96]. - The company has a compensation policy that includes discretionary bonuses based on individual performance, skills, and market trends[90].

Related Party Transactions - The company confirmed that related party transactions disclosed in the 2023 annual report constitute financial assistance provided to the group, qualifying as related transactions[1] - Financial assistance received by the group was conducted on normal commercial terms or better, with no assets of the group being pledged as collateral[1] - The company has complied with the relevant provisions of the Listing Rules regarding continuing connected transactions as detailed in the 2023 annual report[1]

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佈的內容概不負責， 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佈全部或任何 部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 DA MING INTERNATIONAL HOLDINGS LIMITED 大明國際控股有限公 司 （於開曼群島註冊成立的有限公司） （股份代號：1090） 截至二零二四年六月三十日止六個月的 中期業績公佈 | --- | --- | --- | --- | |-------------------------------------|-----------------------------------|-----------------------|--------| | | | | | | 財務摘要 | | | | | | 截至六月三十日止六個月 | | | | | 二零二四年 人民幣千元 | 二零二三年 人民幣千元 | 變幅 | | 收益 | 22,800,874 | 24,504,930 | -7.0% | | 毛利 | 514,473 | 464,229 | +10.8% | | 期間綜合收 ...

| --- | --- | |----------------|----------------------| | | | | | | | | | | 2023年報 | | | 股份代號: 1090 | | | | | | | 大明國際控股有限公司 | | | | | --- | --- | |--------------------|-------| | 目 錄 | | | | | | 企業資料 | | | 財務及營運摘要 | | | 主席報告書 | | | 管理層討論及分析 | | | 企業管治報告 | | | | | | 董事及公司秘書資料 | | | 董事會報告 | | | 獨立核數師報告 | | | 合併財務狀況表 | | | 合併綜合收益表 | | | 合併權益變動表 | | | 合併現金流量表 | | | 合併財務報表附註 | | | 財務摘要 | | 3 11 34 2023 年報 大明國際控股有限公司 股息政策 • 整體經濟狀況及其他可能對本公司業務或財務表現及財務狀況產生影響的內部或外在 因素； • 本公司的保留盈利及可分配儲備； 本公司並無任何預先釐定的派息比例或派息率。宣派及派付股息以 ...

Financial Performance - Total revenue for the year ended December 31, 2023, was RMB 50,560,063 thousand, representing a 0.9% increase from RMB 50,122,319 thousand in 2022[2] - Gross profit for the same period was RMB 921,534 thousand, up 1.4% from RMB 908,633 thousand in the previous year[2] - The annual loss and total comprehensive loss amounted to RMB (190,493) thousand, a 19.9% increase compared to RMB (158,833) thousand in 2022[3] - The basic loss per share for the year was RMB (0.17), compared to RMB (0.14) in the previous year[3] - The company reported a loss attributable to shareholders of RMB 219,068,000 for the year ended December 31, 2023, compared to a loss of RMB 178,302,000 in 2022, reflecting an increase in losses[51] - The company’s employee benefits expenses, including directors' remuneration, were RMB 1,089,907,000 in 2023, slightly down from RMB 1,107,825,000 in 2022[44] - The company recorded a loss of approximately RMB 190.5 million for the year ended December 31, 2023, compared to a loss of approximately RMB 158.8 million for the year ended December 31, 2022, representing an increase of about 19.9%[136] Sales and Production - Stainless steel sales volume increased by 9.9% to 2,043,000 tons from 1,858,780 tons in 2022[2] - Carbon steel sales volume rose by 21.6% to 4,855,332 tons compared to 3,992,889 tons in the previous year[2] - The company's stainless steel processing business annual sales volume increased from approximately 1,859,000 tons for the year ended December 31, 2022, to approximately 2,043,000 tons for the year ended December 31, 2023, representing a growth of about 9.9%[65] - The annual sales volume of carbon steel processing increased from approximately 3,993,000 tons for the year ended December 31, 2022, to approximately 4,855,000 tons for the year ended December 31, 2023, representing a growth of about 21.6%[89] Assets and Liabilities - The total assets as of December 31, 2023, were RMB 13,188,882 thousand, an increase from RMB 12,778,027 thousand in 2022[10] - Total liabilities increased to RMB 9,907,634 thousand from RMB 9,273,342 thousand in the previous year[10] - As of December 31, 2023, the group recorded a net current liability of approximately RMB 562.3 million, with a debt-to-equity ratio of 68.37%, up from 65.05% in 2022[102] - Trade payables in RMB increased from RMB 402,831,000 as of December 31, 2022, to RMB 679,517,000 as of December 31, 2023[58] Cash Flow and Financing - Operating cash flow for the year was RMB 67,280,000, a decrease from RMB 272,276,000 in the previous year[32] - The net cash flow from financing activities was RMB 444,394,000, down from RMB 635,902,000 in the previous year[32] - The net financing cost for the year was RMB (237,845) thousand, slightly higher than RMB (233,330) thousand in 2022[3] - The group has sufficient available bank financing and believes it has adequate resources to continue operations for at least the next twelve months[35] - The group continues to manage long-term and short-term bank borrowings, with most short-term borrowings being refinanced based on historical renewal rates[13] Income and Expenses - The company reported an increase in other income to RMB 69,224 thousand from RMB 47,790 thousand in 2022[3] - The distribution costs rose from approximately RMB 484.9 million for the year ended December 31, 2022, to approximately RMB 493.3 million for the year ended December 31, 2023, primarily due to increased transportation costs[98] - The administrative expenses increased from approximately RMB 443.2 million for the year ended December 31, 2022, to approximately RMB 455.5 million for the year ended December 31, 2023, mainly due to higher taxes[98] Governance and Compliance - The audit committee has reviewed the audited consolidated annual results for the year ended December 31, 2023, and confirmed compliance with applicable accounting standards and regulations[136] - The company plans to update its existing articles of association to align with the latest regulatory requirements regarding electronic communication and the paperless system[133] - The proposed amendments to the articles of association require approval from shareholders at the upcoming annual general meeting[134] - The company maintains a strong governance framework to enhance shareholder value and protect the interests of stakeholders[129] - The board of directors includes both executive and independent non-executive members, ensuring diverse governance[145] Future Outlook - The group expects to generate positive cash inflows from operations for the year ending December 31, 2024[34] - The company aims to enhance profitability through continuous improvements in customer service, operational efficiency, and technological innovation[84] - The group plans to enhance its service network and production efficiency through advanced automation and digital transformation of existing equipment[115] - The group aims to expand its overseas service network to support international business growth, expecting continued revenue growth from overseas operations[115]