Financial Performance - For the six-month period ended June 30, 2023, operating income was RMB 1,643,416 thousand, representing a year-on-year increase of 2.7% compared to RMB 1,600,623 thousand in 2022[8]. - Revenue from sales of raw milk reached RMB 1,565,011 thousand, a 1.1% increase from RMB 1,548,581 thousand in the same period last year[8]. - Gross profit decreased by 18.4% to RMB 418,289 thousand from RMB 512,764 thousand in the previous year[8]. - Profit attributable to owners of the parent was RMB 23,327 thousand, down 89.8% from RMB 228,843 thousand in 2022[8]. - For the first half of 2023, the profit for the period was RMB 21,274,000, a decrease from RMB 243,242,000 in the same period of 2022[78]. - The total comprehensive income for the period was RMB 22,274,000, compared to RMB 221,135,000 in the first half of 2022[78]. - Profit before tax for the first half of 2023 was RMB 21,345, a significant decrease of 91.2% compared to RMB 243,242 in the same period of 2022[105]. - Loss arising from changes in fair value increased to RMB 286,085, up 45.0% from RMB 197,169 in the previous year[105]. Sales and Production - Sales volume increased by 9.2% to 340,086 tonnes compared to 311,565 tonnes in the first half of 2022[8]. - The average annualized milk yield per milkable cow increased by 3.9% to 10.94 tonnes/year from 10.53 tonnes/year in the previous year[8]. - The herd size grew by 2.6% to 139,897 heads from 136,344 heads in the first half of 2022[8]. - The proportion of organic raw milk sold increased by 9.2 percentage points from 71.5% in 2022H1 to 76.8% in 2023H1[55]. - The volume of raw milk sold in 2023H1 was 34,000 tonnes, reflecting a growth rate in cow herd size[55]. Market and Economic Context - In the first half of 2023, China's GDP grew by 5.5% year-on-year, with total retail sales of consumer goods increasing by 8.2%[28]. - The total volume of imported dairy products decreased by 12.9% year-on-year, equivalent to a reduction of 9,580,000 tonnes of fresh raw milk[33]. - The self-sufficiency rate of domestic milk sources accelerated due to rising costs of imported dairy products and the development of high-end domestic dairy products[33]. Assets and Liabilities - Total equity as of June 30, 2023, was RMB 4,180,051,000, down from RMB 4,261,682,000 as of December 31, 2022, indicating a decrease of about 1.9%[101]. - Non-current liabilities increased to RMB 1,122,279,000 as of June 30, 2023, compared to RMB 955,437,000 as of December 31, 2022, representing an increase of approximately 17.5%[101]. - The company's net assets decreased from RMB 4,261,682,000 as of December 31, 2022, to RMB 4,180,051,000 as of June 30, 2023, reflecting a decline of approximately 1.9%[101]. - The reserve accounts in the condensed consolidated statement of financial position totaled RMB 4,016,709,000 as of June 30, 2023, down from RMB 4,081,306,000 as of December 31, 2022[103]. Operational Efficiency and Strategy - The company continues to focus on its core business and aims to enhance operational efficiency amid challenging market conditions[90]. - The company aims to provide the highest quality desert organic milk globally, focusing on sustainable practices[36]. - The Group focuses on the production and sales of desert-based organic milk, aiming to enhance its product mix and profitability through the development of functional raw milk[200]. Shareholder and Capital Information - The share capital remained unchanged at RMB 69,000,000 as of June 30, 2023[101]. - Treasury shares held under the share award scheme increased to RMB (40,804,000) as of June 30, 2023, from RMB (26,188,000) as of December 31, 2022[101]. - The Group's capital commitments for property, plant, and equipment amounted to RMB 86.9 million as of June 30, 2023, significantly up from RMB 5.0 million as of December 31, 2022[121]. - The Group acquired assets at a cost of RMB 98.71 million during the six months ended June 30, 2023, compared to RMB 61.14 million in the same period of 2022[136]. Employee and Management Compensation - Short-term employee benefits for key management personnel amounted to RMB 4,527,000 for the six months ended June 30, 2023, compared to RMB 4,565,000 for the same period in 2022[175]. - The Group recognized a share award expense of RMB 15,046,000 for the six months ended June 30, 2023, compared to RMB 6,562,000 for the same period in 2022, with a total of 53,889,000 shares vested during this period[148]. Environmental and Compliance - The Group's operations were in compliance with applicable national and local environmental protection laws and regulations during the reporting period[183]. - The company's unique organic eco-sand treatment system has been recognized by the United Nations Global Compact as a best practice in sustainable production[38]. Financial Instruments and Risk Management - The carrying amounts of the Group's financial instruments approximate their fair values due to short-term maturities[179]. - The Group's credit risk is managed by trading only with recognized and creditworthy third parties, with no collateral generally required[196].

| --- | --- | |---------------------------------------|------------------------------------------| | | | | | | | 國際財務報告準則第 17 號的修訂 | 保險合約 | | 國際財務報告準則第 17 號的修訂 | 初步應用國際財務報告準則第 17 號及 | | | 國際財務報告準則第 9 號－比較資料 | | 國際會計準則第 1 號及國際財務報告準則 | 披露會計政策 | | 實務報告第 2 號的修訂 | | | 國際會計準則第 8 號的修訂 | 會計估計的定義 | | 國際會計準則第 12 號的修訂 | 與單一交易產生的資產及負債相關之遞延稅項 | | 國際會計準則第 12 號的修訂 | 國際稅收改革－支柱二立法模板 | (a) 國際會計準則第1號的修訂要求實體披露彼等重要會計政策信息，而非彼等重大會計政 策。倘連同實體財務報表內其他資料一併考慮，會計政策信息可以合理預期會影響通用財 務報表的主要使用者根據該等財務報表所作出的決定，則該會計政策信息屬重要。國際財 務報告準則實務報告第2號的修訂就如何 ...

Supply Agreements - As of December 31, 2022, the annual cap for the Dabeinong Group materials supply framework agreement is RMB 146.0 million, with an actual transaction amount of RMB 26.9 million[13]. - The duration of the Dabeinong Group materials supply framework agreement is extended to December 31, 2024[8]. - The actual transaction amount for the Yiyingmei Raw Fresh Milk Supply Framework Agreement as of December 31, 2022, is RMB 1.8 million, against a cap of RMB 17.0 million[19]. - The Yiyingmei Raw Fresh Milk Supply Framework Agreement is effective from March 28, 2022, to December 31, 2024[16]. - The company will continue to purchase materials from Dabeinong Group based on written orders, ensuring compliance with market pricing standards[10]. - The company has established a monthly milk supply plan to meet the purchasing standards of Yiyingmei Dairy[16]. - The original framework agreement with Dabeinong Group was terminated and replaced with the new agreement on March 28, 2022[8]. - The company is committed to expanding its supply agreements to enhance operational efficiency and market reach[16]. Financial Performance - The company’s financial statements for the year ended December 31, 2022, were audited by Ernst & Young[29]. - Total staff costs for 2022 amounted to RMB 330.7 million, compared to RMB 272.0 million in 2021, reflecting a year-over-year increase of approximately 21.5%[53]. - The group has made a provision of RMB 357 million for potential losses related to a civil judgment, reflecting a decrease from RMB 492 million in 2021[106]. - The provision for probable losses related to litigation amounted to RMB 35.7 million in 2022, down from RMB 49.2 million in 2021[136]. - The Company has adopted a dividend policy effective from March 28, 2023, which allows the Board to determine the declaration and payment of dividends based on profits, cash flow, and other factors[146]. Corporate Governance - The Company has adopted and complied with the Corporate Governance Code as per the Listing Rules[40]. - The Company has complied with the Corporate Governance Code for the year ended December 31, 2022[65]. - The Board is responsible for formulating overall strategies and policies to ensure the Group achieves its goals swiftly[39]. - The Board comprises nine Directors, including one executive Director and three independent non-executive Directors[68]. - The Company ensures all independent non-executive Directors are independent as per the Listing Rules, with confirmations received from each[70]. - The roles of the Chairman and Chief Executive Officer are separate, performed by different individuals, ensuring clear governance[70]. - The Company has established various committees under the Board to assist in governance and management functions[68]. - The Company has established a mechanism to ensure independent views and input are available to the Board during the year[148]. Risk Management - The Group has established effective internal control systems for risk assessment[39]. - The Group's risk management and internal control systems are designed to provide reasonable assurance against material misstatement or loss[155]. - The Group's internal control management center is responsible for evaluating and optimizing the internal control system across the industrial chain to ensure effective risk management[157]. - The Board conducted a review of the effectiveness of the Group's risk management and internal control systems, including all material controls, in 2022[155]. - The internal audit function reports to the Audit Committee, which in turn reports findings to the Board, ensuring oversight of internal controls[161]. Employee Management - As of December 31, 2022, the Group had a total of 2,845 employees, an increase from 2,682 employees in 2021[53]. - The Group provides on-the-job education and training opportunities to improve employee skills and knowledge[53]. - The Group has adopted a Share Option Scheme aimed at attracting, retaining, and motivating Directors, senior management, and employees[53]. - The Share Award Scheme aims to enhance corporate governance, attract talent, and motivate core employees for sustainable growth[126]. - The Company emphasizes the importance of integrity and law-abiding practices at all levels, with a strong focus on anti-corruption measures[163]. Shareholder Information - As of December 31, 2022, Start Great Holdings Limited and China Mengniu Dairy Company Limited each held a beneficial interest of 2,513,178,555 shares, representing 29.99% of the total shares[64]. - Nong You Co., Ltd. and Beijing Zhi Nong Investment Co., Ltd. each held 1,301,651,000 shares, accounting for 15.53% of the total shares[64]. - The company has a total of 8,381,295,229 shares issued as of December 31, 2022[108]. - The attendance record of directors at general meetings shows full participation, with key meetings held on June 20, 2022, and December 29, 2022[119]. Compliance and Legal Matters - The Company is not aware of any material uncertainties that may affect its ability to continue as a going concern as of December 31, 2022[122]. - The Company has established a whistle-blowing policy to encourage employees to report financial reporting and operational improprieties, ensuring protection against unfair dismissal[163]. - All employees received anti-corruption training during the year, including seminars and online training, to enhance awareness of anti-corruption practices[163]. - The external auditor for the Group is Ernst & Young, with fees for audit and non-audit services paid or payable for the years ending December 31, 2021, and December 31, 2022[167].

每股攤薄盈利乃根據母公司普通股權益持有人應佔年內溢利人民幣416,460,000元（二零二一 年：人民幣471,713,000元）計算。用於計算普通股的加權平均數為計算每股基本盈利時所用的 年內已發行普通股數目8,352,133,000股（二零二一年：8,381,295,000股），加假設行使認股權證 及具攤薄效果的或然普通股按無代價發行的普通股加權平均數。 – 16 – 於報告期末，根據發票日期及扣除虧損撥備的貿易應收款項的賬齡分析如下： 10. 貿易應付款項及應付票據 – 18 – 2022年受多重內外部因素的較強衝擊，國內經濟增速放緩，最終消費對經濟增長 的貢獻率明顯減弱，工業經濟增速回落至低於疫情前的水平，服務業受疫情擾動復 蘇受阻、結構分化明顯。2022年國內生產總值約人民幣1,210,207億元，按不變價 格計算，比上年增長3.0%，社會消費品零售總額人民幣439,733億元，比去年下降 0.2%。基本生活類消費穩定增長，其中限額以上單位糧油食品類、飲料類商品零售 額分別增長8.7%、5.3%。全年居民消費價格(CPI)比去年上漲2.0%，其中糧食價格 上漲2.8%，物價保持平穩運行。全年全國居民 ...

CHINA SHENGMU ORGANIC MILK LIMITED 中國聖牧有機奶業有限公司 (Incorporated in the Cayman Islands with limited liability) ( 於朗曼群島註冊成立的有限公司 ) Stock Code 股份代號 : 1432 INTERIM REPORT 中期報告 2022 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|-------|------------------|-------|------------------|------------------|-------|---------|-------|-------|------------------| | | | | | | | | | | | | | | | | | | | | INVD: | | | ORGANIC 圣较有机 | Ø | ORGANI ...

CHINA SHENGMU ORGANIC MILK LIMITED 中國聖牧有機奶業有限公司 ( 於房曼群島註冊成立的有限公司 ) 股份代號 : 1432 年 度 報 告 2021 提 供 全 球 最 高 品 質 的 沙 漠 有 機 奶 o 0 1.2 . t to ORGANIC 0 ORGANIC ORGANIC ORGANIC 圣欲有国 ORGANIC DINV980 3 2017-08-08 11:27: ex 有机儿童好 192 6 19 目錄 公司資料 2 有機產業基地位置圖 4 董事會主席報告 5 管理層討論及分析 7 董事會報告 23 董事及高級管理層 43 企業管治常規報告 48 獨立核數師報告 59 綜合損益表 63 綜合全面收益表 64 綜合財務狀況表 65 綜合權益變動表 67 綜合現金流量表 69 財務報表附註 71 財務概要 146 公司資料 吳亮先生 | --- | --- | |--------------------------------|----------------------------------------------| | | | | 董事會 | 提名委員會 ...

CHINA SHENGMU ORGANIC MILK LIMITED 中國聖牧有機奶業有限公司 (於開曼群島註冊成立的有限公司) 股份代號 : 1432 中 期 報 告 2021 ORGANIC 圣牧有机 ORGANIC Ø ORGANIC 公衣官引 提 供 全 球 最 高 品 質 的 沙 漠 有 機 奶 目錄 | --- | --- | |--------------------------|-------| | | | | 公司資料 | | | 摘要 | | | 管理層討論及分析 | | | 董事會報告 | | | 中期財務報表審閱報告 | | | 中期簡明綜合損益表 | | | 中期簡明綜合全面收益表 | | | 中期簡明綜合財務狀況表 | | | 中期簡明綜合權益變動表 | | | 中期簡明綜合現金流量表 | | | 中期簡明綜合財務資料附註 | | 公司資料 | --- | --- | |---------------------------|----------------------------------------------| | 董事會 | 提名委員會 | | 執行董事 | 盧敏放先生 ...

2020 年度報告 CHINA SHENGMU ORGANIC MILK LIMITED 中國聖牧有機奶業有限公司 ( 於開曼群島註冊成立的有限公司 ) 股份代號 : 1432 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|---------|-------|-------------------|-------|------------------|-------|-------|------------------|-------| | | | | | | | | | | | | | | | | | | | | | | | ORGANIC | | | | | | | | | | | NVD8 | | ORGANIC | | 圣权有机一 છ | | ORGANIC 圣家有机 | | | ORGANIC 圣牧有机 | | | | | | | | | | | | | | | | | 提供全球最高品質的沙漠有 ...

CHINA SHENGMU ORGANIC MILK LIMITED 中 國 聖 牧 有 機 奶 業 有 限 公 司 (於開曼群島註冊成立的有限公司) 股份代號: 1432 12 8 202 目錄 公司資料 2 摘要 4 管理層討論及分析 5 董事會報告 16 中期財務報表審閱報告 25 中期簡明綜合損益表 26 中期簡明綜合全面收益表 27 中期簡明綜合財務狀況表 28 中期簡明綜合權益變動表 30 中期簡明綜合現金流量表 32 中期簡明綜合財務報表附註 34 3 DX = = | --- | --- | --- | |---------------------------|------------------------------|-------| | | | | | | | | | | | | | 董事會 | 薪酬委員會 李軒先生 （主席） | | | 執行董事 | 孫謙先生 | | | 姚同山先生 | 付文革先生 | | | 張家旺先生 （首席執行官） | 提名委員會 | | | 非執行董事 | 付文革先生 （主席） | | | 邵根夥先生 （董事長） | 邵根夥先生 | | | 孫謙先生 | 姚同 ...

GANIC MILI 2019年度報告 CHINA SHENGMU ORGANIC MILK LIMITED 中 國 聖 牧 有 機 奶 業 有 限 公 司 (於開曼群島註冊成立的有限公司) 股份代號:1432 0 -24 1 er and the province of the station of the station of the station of the see and 新闻 ORGANIC MILK 自動機+吸 ORGANIC MILA -- ORGANIC 6 - 2 g #83888888 Ething #1 nd 目錄 公司資料 2 有機產業基地位置圖 4 董事長致辭 5 管理層討論及分析 7 董事會報告 19 董事及高級管理層 35 企業管治常規報告 39 環境、社會及管治報告 48 獨立核數師報告 80 綜合損益表 84 綜合全面收益表 85 綜合財務狀況表 86 綜合權益變動表 88 綜合現金流量表 89 財務報表附註 91 財務概要 176 公司資料 | --- | --- | |-----------------------------------------|-------- ...