Financial Performance - Total comprehensive income for the year amounted to RMB 12,788,000, compared to RMB 43,207,000 in the previous year, indicating a significant decrease [5]. - Basic earnings per share were RMB 0.08, down from RMB 0.15 in the previous year, reflecting a decline in profitability [6]. - Total revenue for 2022 was RMB 2,178,409,000, a decrease of 9.2% compared to RMB 2,400,426,000 in 2021 [24]. - Gross profit for 2022 was RMB 338,141,000, down 7.8% from RMB 366,725,000 in 2021 [24]. - Net profit for the year was RMB 22,821,000, representing a significant decline of 47.7% from RMB 43,629,000 in 2021 [24]. - Basic earnings per share for 2022 were RMB 0.08, down from RMB 0.15 in 2021, reflecting a 47.7% decrease [24]. - The company recorded a net profit of approximately RMB 22.8 million, a decrease of about 47.7% from RMB 43.6 million in 2021, resulting in a net profit margin decline from 1.8% to 1.0% [125]. - The profit attributable to equity holders of the company was RMB 22.8 million, a decrease of approximately 47.7% or about RMB 20.8 million compared to RMB 43.6 million in 2021 [144]. Assets and Liabilities - Property, plant, and equipment increased to RMB 794,579,000 from RMB 695,730,000, showing a growth of approximately 14.2% [8]. - Current assets decreased to RMB 866,744,000 from RMB 920,520,000, a decline of about 5.8% [8]. - Total liabilities increased slightly to RMB 794,957,000 from RMB 782,634,000, indicating a rise of approximately 1.6% [8]. - The net asset value decreased to RMB 602,546,000 from RMB 630,395,000, reflecting a reduction of about 4.4% [8]. - The company reported a decrease in inventory to RMB 111,483,000 from RMB 164,781,000, a decline of approximately 32.3% [8]. - Accounts receivable decreased to RMB 635,642,000 from RMB 683,690,000, indicating a reduction of about 7.0% [8]. - The total lease liabilities as of December 31, 2022, amounted to RMB 315,166,000, an increase from RMB 238,091,000 in 2021 [84]. - The group’s total liabilities included RMB 348,340,000 in secured bank loans as of December 31, 2022, compared to RMB 330,000,000 in 2021 [104]. Revenue Sources - The group generated over 90% of its operating revenue and operating profit from manufacturing and selling packaging materials in China [58]. - The group's revenue from the food and beverage sector in 2022 was RMB 601,865 thousand, a decrease from RMB 625,381 thousand in 2021, representing a decline of approximately 3.3% [64]. - Revenue from the paper and packaging sector in 2022 was RMB 297,027 thousand, down from RMB 350,759 thousand in 2021, indicating a decrease of about 15.4% [64]. - The group's operating revenue from the sale of corrugated paper packaging products for the year was approximately RMB 1,970.0 million, a decrease of about 9.3% compared to RMB 2,171.4 million in 2021, accounting for approximately 90.4% of the total operating revenue for the year [91]. Expenses and Costs - The cost of goods sold for 2022 was RMB 1,840,268,000, compared to RMB 2,033,701,000 in 2021 [42]. - The company reported a decrease in sales and distribution expenses to RMB 120,824,000 from RMB 124,507,000 in 2021 [27]. - Administrative expenses slightly decreased to RMB 156,524,000 from RMB 159,293,000 in 2021 [27]. - The total sales cost for the year was approximately RMB 1,840.3 million, a decrease of about 9.5% from RMB 2,033.7 million in 2021, primarily due to reduced sales volume [118]. Cash Flow and Investments - The net cash generated from operating activities was approximately RMB 238.0 million, an increase of about RMB 189.0 million or approximately 385.6% compared to RMB 49.0 million in 2021 [128]. - The net cash used in investing activities was approximately RMB 70.3 million, compared to RMB 91.5 million in 2021, primarily due to equipment purchases for existing and new plants [146]. - The net cash used in financing activities was approximately RMB 128.4 million, compared to a net cash inflow of about RMB 8.9 million in 2021, mainly due to repayments of sale and leaseback arrangements, dividend payments, and interest payments [147]. - The company had cash and cash equivalents of approximately RMB 98.8 million as of December 31, 2022, compared to RMB 58.8 million at the beginning of the year [126]. Future Outlook and Strategy - The company plans to maintain a final dividend of HKD 0.08 per share, consistent with the previous year [24]. - The company plans to expand its business in Central China and focus on improving the utilization rate of its production facilities, anticipating stronger demand in 2023 [150]. - The company established a new production facility in Chuzhou, Anhui Province, which commenced operations in August 2022, to improve overall performance [115]. Risks and Challenges - The company faced significant challenges in revenue and profit due to adverse economic conditions and supply chain disruptions in various industries [137]. - The overall economic downturn and repeated COVID-19 outbreaks in mainland China have negatively impacted consumer activity and trade orders across multiple sectors [136]. - The company has identified several risks and uncertainties that may affect its business operations, including rising prices of key raw materials and uncertainties in obtaining external financing [163]. Corporate Governance - The company is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value [165]. - The audit committee, consisting of four directors, has reviewed the audited annual performance of the group for the year [166]. - The company has adopted the standards for securities trading as outlined in the Listing Rules, confirming compliance by all directors for the year [167]. - There were no purchases, sales, or redemptions of any listed securities by the company or its subsidiaries during the year [168].

Financial Performance - For the six months ended June 30, 2022, the company recorded revenue of approximately RMB 1,062.5 million, a decrease of about 4.9% compared to RMB 1,116.7 million in the same period last year[12]. - The net profit attributable to the company's owners for the same period was approximately RMB 8.9 million, down approximately 61.9% from RMB 23.3 million in the previous year[12]. - The gross profit margin for the period was approximately 15.1%, a decrease of about 0.8% from 15.9% in the same period last year[14]. - Profit decreased by approximately 61.9% from RMB 23.3 million to RMB 8.9 million, resulting in a net profit margin decline from 2.1% to 0.8%[23]. - Earnings per share decreased to RMB 0.03 from RMB 0.08, representing a decline of 62.5%[47]. - The group reported a profit before tax decreased to RMB 8,881,000, down 61.9% from RMB 23,295,000 in the same period of 2021[72]. Revenue Breakdown - Sales revenue from corrugated paper packaging products was approximately RMB 959.0 million, a decrease of about 5.3% compared to RMB 1,012.7 million in the same period last year, accounting for approximately 90.3% of total revenue[15]. - Sales revenue from corrugated board was approximately RMB 103.5 million, a slight decrease of about 0.4% from RMB 104.0 million in the same period last year, accounting for approximately 9.7% of total revenue[16]. - Revenue from the food and beverage sector was RMB 270,379 thousand, slightly decreasing by 1.7% from RMB 273,850 thousand in the same period of 2021[60]. - Revenue from non-food and beverage consumables was RMB 159,737 thousand, showing a marginal increase of 1% from RMB 158,156 thousand in the same period of 2021[60]. - The group reported a revenue of RMB 1,088,000 for the sale of other materials and consumables, an increase of 112.5% compared to RMB 513,000 in the same period of 2021[66]. Expenses and Costs - The company's selling and distribution expenses decreased by approximately 5.1% to about RMB 56.3 million from RMB 59.4 million in the same period last year, mainly due to a decrease in freight costs[19]. - Administrative expenses increased by approximately 3.6% to about RMB 80.3 million from RMB 77.5 million in the same period last year, primarily due to the commissioning of the Foshan factory[20]. - Financing costs increased by approximately 7.6% from RMB 12.9 million to RMB 13.9 million due to increased borrowings and the rise in the value of the right-of-use assets for the Foshan factory[21]. - The cost of goods sold was RMB 901,629,000, a decrease of 3.9% from RMB 938,598,000 in the previous year[68]. Cash Flow and Liquidity - Cash and cash equivalents at the end of the period were approximately RMB 118.4 million, up from RMB 52.7 million in the previous period[25]. - Net cash inflow from operating activities increased significantly to approximately RMB 161.0 million from RMB 7.1 million, primarily due to the recovery of receivables and a decrease in inventory[26]. - Cash used in investing activities was approximately RMB 44.3 million, a decrease of RMB 29.5 million compared to RMB 73.8 million in the previous period[27]. - Cash used in financing activities was approximately RMB 57.2 million, a decrease of approximately RMB 80.4 million compared to a net cash inflow of RMB 23.2 million in the previous period[27]. - Operating cash flow for the six months ended June 30, 2022, was RMB 160,980 thousand, a significant increase from RMB 7,086 thousand in the same period of 2021, representing a growth of approximately 2,227%[53]. Dividends and Shareholder Returns - The board has decided not to declare any interim dividend for the period, but announced a special dividend of HKD 0.08 per share to be paid on or around December 15, 2022[12]. - The company declared dividends of RMB 19,555 thousand during the period, compared to RMB 40,612 thousand in the same period last year[50]. - The company approved a final dividend of RMB 19,555,000 for the fiscal year 2021, down from RMB 40,612,000 in the previous year, reflecting a decrease of about 52.1%[91]. Corporate Governance - The company has maintained high standards of corporate governance to protect shareholder interests and enhance corporate value[40]. - The audit committee has reviewed the group's accounting principles and confirmed the unaudited financial performance for the period[43]. - The independent auditor has conducted a review of the interim financial statements in accordance with the relevant standards[44]. - No significant deviations from the corporate governance code have been reported during the period[40]. - The company will continue to review and enhance its corporate governance practices[40]. Market Outlook and Strategy - The company plans to maintain a cautious optimism regarding market recovery and performance in the second half of 2022, considering the traditional peak season and potential easing of COVID-19 impacts[14]. - The company plans to continue focusing on the development of new products and technologies to enhance market competitiveness[54]. - The company remains committed to expanding its market presence, particularly in the food and beverage packaging sector, which continues to show stable demand[60]. - The company has not disclosed any significant mergers or acquisitions during the reporting period, indicating a focus on organic growth strategies[54]. Assets and Liabilities - Total assets as of June 30, 2022, amounted to RMB 1,652,913 thousand, compared to RMB 1,642,345 thousand as of December 31, 2021, indicating a slight increase of 0.4%[48]. - Current liabilities totaled RMB 803,449 thousand, an increase from RMB 782,634 thousand at the end of 2021, reflecting a rise of 2.5%[48]. - The total liabilities of the company as of June 30, 2022, were RMB 996,998,000, compared to RMB 987,178,000 as of December 31, 2021, indicating a rise of approximately 0.83%[93]. - The company reported a decrease in accounts receivable from RMB 659,563,000 in 2021 to RMB 586,603,000 in 2022, a decline of approximately 11.06%[92]. - The group’s total receivables decreased to RMB 604,261,000 from RMB 683,690,000, reflecting a reduction of 11.6%[74].

Financial Performance - The company's revenue increased by approximately 17.6% compared to the previous fiscal year, driven by rising domestic demand in the food and beverage sector[8]. - The net profit for the year decreased by about 44.4% compared to the fiscal year ending in 2020, primarily due to rising costs[8]. - The company's revenue for the year was approximately RMB 2,400.4 million, an increase of about RMB 358.8 million or approximately 17.6% compared to RMB 2,041.6 million in 2020[15]. - The gross profit margin decreased to approximately 15.3%, down about 3.3% from approximately 18.6% in 2020, with gross profit amounting to RMB 366.7 million, a decrease of about 3.7% from RMB 380.7 million in 2020[15][21]. - The company's net profit attributable to equity holders was RMB 43.6 million, a decrease of approximately 44.4% from RMB 78.4 million in 2020, with a net profit margin dropping from 3.8% in 2020 to 1.8% in 2021[28][29]. - Basic earnings per share for 2021 was RMB 0.15, compared to RMB 0.26 in 2020, reflecting a decline of 42.3%[172]. - The company reported a total comprehensive income of RMB 43,207 thousand for the year, down from RMB 76,943 thousand in 2020[172]. - The operating profit before tax for 2021 was RMB 62,330,000, a decrease of 45% compared to RMB 113,219,000 in 2020[186]. Production and Investment - A new production facility has been established in Shandong Province, while the Qingdao facility has been repurposed as a training and maintenance center[8]. - The company plans to invest in new machinery and equipment to automate and streamline production processes[9]. - The company established a new factory in Shandong and repurposed the Qingdao factory into a training and maintenance center, indicating ongoing investment in production capacity[15]. - The net cash used in investing activities for the year was approximately RMB 91.5 million, an increase from RMB 49.9 million in 2020, primarily due to equipment purchases for existing and new factories[33]. Market Demand and Strategy - The company anticipates continued growth in product demand due to the increasing number of online shoppers[10]. - The overall economic recovery in mainland China has positively impacted sales in various industries, including food and beverage[13]. - The company aims to consolidate its market position through prudent business development measures[10]. - The demand for paper packaging is expected to increase due to the implementation of plastic bans and the push for carbon neutrality[13]. - The company anticipates continued growth in demand for its products driven by changes in consumer lifestyles and will focus on essential goods like food and beverages[37]. - The company plans to strengthen its factory network to enhance regional coverage and market penetration in the corrugated packaging industry in mainland China[37]. Cost and Financial Management - The company faces ongoing cost pressures from raw material supply constraints and rising energy costs, affecting profit margins[13]. - The company's selling costs increased by approximately 22.4% to RMB 2,033.7 million from RMB 1,660.9 million in 2020, primarily due to increased sales volume, rising labor costs, and higher raw paper prices[20]. - Administrative expenses increased by approximately 17.6% to RMB 159.3 million from RMB 135.4 million in 2020, mainly due to rising labor costs and contributions from new production facilities[23]. - The net cash generated from operating activities was approximately RMB 49.0 million, a decrease of about 56.3% from RMB 112.1 million in 2020, mainly due to reduced profits and changes in receivables and payables[32]. Corporate Governance - The company has established various committees, including a nomination committee and an environmental committee, to oversee governance and sustainability efforts[48]. - The company emphasizes internal controls and financial statement analysis as part of its governance practices[49]. - The board consists of four committees: Audit Committee, Remuneration Committee, Nomination Committee, and Environmental Committee, to oversee various aspects of the company[118]. - The company has appointed three independent non-executive directors, exceeding one-third of the board's total number, ensuring adequate checks and balances[125]. - The company is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value[116]. Shareholder Information - The company proposed a final dividend of HKD 0.08 per share for the year, down from HKD 0.16 in the previous year[57]. - The group had distributable reserves of approximately RMB 409.2 million as of December 31, 2021[68]. - Major shareholder PMHC holds 189,488,200 shares, representing 63.02% ownership[88]. - Major shareholder Jinfu Investment Limited holds 192,424,200 shares, representing 64.00% ownership[88]. - The company has no significant transactions or contracts involving directors or controlling shareholders that could create a conflict of interest[75]. Risk Management - The group has identified several risks affecting its operations, including rising raw material prices and uncertainties in obtaining external financing[39]. - The company has adopted a set of internal control and risk management systems to address various operational, financial, legal, and market risks[145]. - The board has reviewed and confirmed the effectiveness of the risk management and internal control systems for the year[145]. Auditor and Compliance - The independent auditor has issued an unqualified opinion on the company's related party transactions, confirming compliance with the relevant listing rules[104]. - The external auditor, Hong Kong Lixin Dehao CPA Limited, received approximately RMB 1,053,000 for annual audit services and RMB 167,000 for non-audit services during the year[147]. - The company confirmed compliance with the standards set out in the Listing Rules Appendix 10 regarding securities trading by directors[142].

PACIFIC MILLENNIUM PACKAGING GROUP CORPORATION 國際濟豐包裝集團 Interim Report (Incorporated in the Cayman Islands with limited liability) 2021 Stock code : 1820 INTERIM REPORT 中期報告 2021 PACIFIC MILLENNIUM PACKAGING GROUP CORPORATION （於開曼群島註冊成立的有限公司） 2021 股份代號：1820 中期報告 PACIFIC MILLENNIUM PACKAGING GROUP CORPORATION 目 향 | --- | --- | |-------------------------------------------|-------| | | | | 公司资料 | 2 | | 財 務 摘 要 | 4 | | 管理 層 討 論 及 分 析 | 5 | | 企 業 管 治 和 其 他 資 料 | 15 | | 簡 明 綜 合 中 期 財 務 報 表 審 閱 報 告 | 17 | | 簡明 綜 合 ...

Aillennium PACIFIC MILLENNIUM PACKAGING GROUP CORPORATION 國際濟豐包裝集團 （於開曼群島註冊成立的有限公司） 股份代號：1820 C In 年 報 2020 | --- | --- | --- | --- | --- | |-------|-------|-------|--------------|----------------------| | | | 目 錄 | | | | | | 02 | 公司資料 | | | | | | | | | | | 03 05 | 主席報告 | 管理層討論及分析 | | | | 10 | | 董事及高级管理層履歷 | | | | 13 | 董事會報告 | | | | | 26 | 企業管治報告 | | | | | 34 | | 獨立核數師報告 | | | | 38 | | 綜合全面收益表 | | | | 39 | | 綜合財務狀況表 | | | | 41 | | 綜合權益變動表 | | | | 43 | | 綜合現金流量表 | | | | 45 | | 綜合財務報表附註 | | | | 100 | | 五年財務概要 ...

Pacific Millennium . PACIFIC MILLENNIUM PACKAGING GROUP CORPORATION 國際濟豐包裝集團 (於同曼群島註冊成立的有限公司) 股份代號：1820 idea 中期報管 | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|--------------------------------------------------------------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 를 | | 2 | 公司资料 | | | | | 4 | | | 財務摘要 | | | | | 5 | | | 管理層討論及分析 | | | | | | 17 | | 企業管治和其他資料 | | | | | 21 | 19 | | 簡 明 綜 合 中 期 ...

icific Millennium PACIFIC MILLENNIUM PACKAGING GROUP CORPORATION 國際濟豐包裝集團 (於開曼群島註冊成立的有限公司) 股份代號：1820 2019年報 02 公司資料 04 主席報告 06 管理層討論及分析 董 事 及 高 级 管 理 層 履 歷 12 15 董事會報告 企業管治報告 28 37 獨立核數師報告 綜合全面收益表 41 42 綜合財務狀況表 44 綜合權益變動表 46 綜合現金流量表 48 綜合財務報表附註 108 五年財務概要 2019年報 國際濟豐包裝集團 公司資料 董事會 核數師 | --- | --- | |-----------------------------------------------|--------------------------------------| | | | | 執行董事 | 香港立信德豪會計師事務所有限公司 | | 鄭顯俊先生(主席) | 執業會計師 | | | 香港中環 | | 非執行董事 | 干諾道中111號 | | 周天力先生 | 永安中心25樓 | | 談大成先生(自2019年12 ...

Pacific Millennium PACIFIC MILLENNIUM PACKAGING GROUP CORPORATION 國際濟豐包裝集團 (於開曼群島註冊成立的有限公司) 股份代號 : 1820 中期報告 2019 目錄 企業管治和其他資料 簡明綜合中期財務報表審閱報告 簡明綜合全面收益表 簡明綜合財務狀況表 簡明綜合權益變動表 簡明綜合現金流量表 簡明綜合財務報表附註 公司資料 2 4 5 16 18 20 21 23 24 25 財務摘要 管理層討論及分析 公司資料 董事會 執行董事 張啟昌先生 鄭顯俊先生（主席） 核數師 非執行董事 香港立信德豪會計師事務所有限公司 執業會計師 周天力先生 香港中環 干諾道中111號 獨立非執行董事 永安中心25樓 王計生先生 合規顧問 江天錫先生 蘇崇武博士 浦銀國際融資有限公司 香港 審核委員會 金鐘道88號 太古廣場1座 3207–3212室 江天錫先生（主席） 周天力先生 蘇崇武博士 主要往來銀行 王計生先生 上海浦東發展銀行股份有限公司 薪酬委員會 嘉定支行 中國上海 王計生先生（主席） 博樂路199號 鄭顯俊先生 蘇崇武博士 註冊辦事處 提名委員 ...

PACIFIC MILLENNIUM PACKAGING GROUP CORPORATION 國際濟豐包裝集團 Pacific Millennium PACIFIC MILLENNIUM PACKAGING GROUP CORPORATION (於開曼群島註冊成立的有限公司) 股份代號: 1820 年報 2018 目錄 @ 公司資料 02 04 主席報告 管理層討論及分析 06 董事及高級管理層履歷 13 董事會報告 16 31 企業管治報告 40 獨立核數師報告 綜合全面收益表 44 綜合財務狀況表 45 47 綜合權益變動表 綜合現金流量表 49 綜合財務報表附註 51 106 四年財務概要 公司資料 2018年载 國際波回號裝題 | --- | --- | |--------------------------------------|-------------------------------------| | | | | 董事會 | 合規顧問 | | 執行董事 | 浦 銀 國 際 融 資 有 限 公 司 | | 鄭顯俊先生(主席) | 香港 | | (於2017年7月20日獲委任並 | 金鐘 道 ...