9 SANERGY SANERGY GROUP LIMITED 昇能集團有限公司 t於関曼群島註冊成立的有限公司) 股份代號 : 2459 中期報告 目錄 2 公司資料 4 公司簡介 6 釋義 9 管理層討論及分析 17 其他資料 26 簡明綜合財務報表審閱報告 28 簡明綜合損益及其他全面收益表 30 簡明綜合財務狀況表 32 簡明綜合權益變動表 33 簡明綜合現金流量表 35 簡明綜合財務報表附註 35 簡明綜合財務報表附註 公司資料 薪酬委員會 鄭大鈞先生(主席) 魏明德先生 Peter Brendon Wyllie 先生 (自二零二四年三月三十一日 超獲委任) Wei-Ming Shen 博士 非執行董事 (自二零二四年三月三十一日 王平先生 起爵任) 鄭洪河教授 (自二零二四年五月三十一日 特許公認會計師公會) 核數師 德勤 · 關黃陳方會計師行 執業會計師 註冊公眾利益賓體核數師 董事曾 | --- | --- | |----------------------------------|-------| | | | | 執行董事 | | | Peter Brendon Wyllie 先生(主席) ...

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 告 的 內 容 概 不 負 責，對其準確性或完整性亦不發表任何聲明，並明確表示概不會就因本公告全部 或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 SANERGY GROUP LIMITED 昇 能 集 團 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：2459） 有關本公司 截至二零二三年十二月三十一日止年度年報的補充公告 茲提述(i)昇能集團有限公司（「本公司」，連同其附屬公司統稱「本集團」）日期為二 零二二年十二月三十日的招股章程（「招股章程」）；及(ii)本公司截至二零二三年十 二月三十一日止年度的年報（「年報」）。除另有界定外，本公告所用詞彙與招股章 程及年報所界定者具有相同涵義。 董事會謹此向年報提供更多有關控股股東所作出不競爭承諾的資料。 誠 如 招 股 章 程 第 352 頁 所 披 露 ， 控 股 股 東 將 在 本 公 司 年 報 中 就 遵 守 不 競 爭 契 據 中 承諾的情況作出年度聲明。董事會謹此就年報「企業管治報告」一節作出補充，並 提供 ...

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 告 的 內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 會 就 因 本 公 告 全 部 或 任 何 部 分 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 SANERGY GROUP LIMITED 昇能集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2459） 截 至 二 零 二 四 年 六 月 三 十 日 止 六 個 月 之 中 期 業 績 公 告 及 更 改 上 市 所 得 款 項 用 途 昇 能 集 團 有 限 公 司（「本 公 司」，連 同 其 附 屬 公 司 統 稱「本 集 團」）董 事（「董 事」） 會（「董 事 會」）欣 然 宣 佈 本 集 團 截 至 二 零 二 四 年 六 月 三 十 日 止 六 個 月（「報 告 期 間」）或（「二 零 二 四 年 上 半 年」）之 未 經 審 核 綜 合 業 績 連 同 截 至 二 零 二 三 年 六 月 ...

Global Operations and Production Facilities - The company has a global customer base spanning over 25 countries, including major electric arc furnace steel manufacturers in the Americas, EMEA, Asia-Pacific, and China[8] - The company operates production facilities in Italy and China with a combined annual capacity of 46,000 metric tons[8] - In December 2023, the company initiated a brownfield GAM project in Europe with a planned annual production capacity of 20,000 metric tons[8] - The company's strategic decision to establish its own GAM production facility in Europe aligns with future market trends[8] - The company is investing in GAM production in Europe and silicon-based anode material R&D in China as part of its diversification strategy[12] - A groundbreaking ceremony for the anode production facility in Italy is scheduled for mid-April 2024[12] - The company plans to become one of the first or earliest graphite anode producers in the European market[12] Financial Performance and Revenue - Revenue from core graphite electrode business decreased by 37.4% to $72.3 million in FY2023 compared to FY2022, primarily due to reduced sales volume[12] - Gross profit margin dropped significantly from 22.5% in FY2022 to 1.2% in FY2023[14] - The company reported a net loss of $15.476 million in FY2023, compared to a net profit of $7.496 million in FY2022[14] - Revenue from EMEA region accounted for 53.0% of total revenue in FY2023, down from 44.7% in FY2022[15] - Revenue from China decreased to $12.907 million (17.9% of total) in FY2023 from $27.871 million (24.1% of total) in FY2022[15] - Revenue decreased by 37.4% to $72.3 million in FY2023 compared to FY2022, primarily due to weak customer demand and downstream supply chain destocking[17] - Graphite electrode sales volume decreased by 29.6% in FY2023 compared to FY2022, with all regions experiencing revenue declines[17] - Gross margin dropped significantly from 22.5% in FY2022 to 1.2% in FY2023, mainly due to lower average selling prices, reduced sales volume, and increased average cost per ton[21] - Revenue for 2023 decreased to $72.292 million from $115.521 million in 2022, representing a significant decline[139] - Gross profit for 2023 dropped sharply to $841 thousand from $26.028 million in 2022[139] - The company reported a net loss of $15.476 million in 2023, compared to a net profit of $7.496 million in 2022[139] - Basic and diluted loss per share for 2023 was 1.6 cents, compared to earnings of 0.9 cents per share in 2022[139] - Administrative expenses increased to $12.081 million in 2023 from $9.118 million in 2022[139] - Financing costs rose to $3.653 million in 2023 from $2.626 million in 2022[139] - The company incurred discretionary listing bonus expenses of $3.045 million in 2023, which were not present in 2022[139] - Other income increased to $691 thousand in 2023 from $358 thousand in 2022[139] - The company received an income tax credit of $6.850 million in 2023, compared to an income tax expense of $1.692 million in 2022[139] - The company reported a net loss of $15.476 million for 2023, compared to a net profit of $7.496 million in 2022[140] - Total comprehensive expenses attributable to the company's owners amounted to $15.826 million in 2023, a significant increase from $2.072 million in 2022[140] - The company's total revenue from external customers in 2023 was $72,292 thousand, a decrease from $115,521 thousand in 2022[177] - Revenue from the Americas region dropped to $19,326 thousand in 2023 from $33,484 thousand in 2022[177] - Revenue from the EMEA region decreased to $38,319 thousand in 2023 from $51,664 thousand in 2022[177] - Revenue from China fell to $12,907 thousand in 2023 from $27,871 thousand in 2022[177] - Revenue from the Asia-Pacific region (excluding China) declined to $1,740 thousand in 2023 from $2,502 thousand in 2022[177] Assets and Liabilities - Non-current assets in China increased to $64.836 million (56.3% of total) in FY2023 from $52.168 million (49.8% of total) in FY2022[16] - Cash and cash equivalents as of December 31, 2023, were $29.6 million, up from $11.7 million in 2022[28] - Total interest-bearing bank and other borrowings as of December 31, 2023, were $38.7 million, compared to $30.2 million in 2022[28] - The company's debt-to-equity ratio increased from 22.7% in 2022 to 26.1% in 2023[29] - Capital expenditures for 2023 were approximately $13.6 million, primarily for property, plant, and equipment additions[31] - Property, plant, and equipment increased to $100.053 million in 2023 from $93.131 million in 2022[141] - Cash and cash equivalents rose to $29.620 million in 2023, up from $11.652 million in 2022[141] - Total assets minus current liabilities stood at $163.483 million in 2023, compared to $160.328 million in 2022[142] - The company's total equity increased to $148.493 million in 2023 from $132.917 million in 2022[142] - The company issued 816.6 million ordinary shares through a capitalization issue in 2023[144] - The company's reserves, including comprehensive reserves, totaled $138.393 million in 2023, up from $132.807 million in 2022[144] - The company's non-current assets in China increased to $64,836 thousand in 2023 from $52,168 thousand in 2022[178] - Non-current assets in the EMEA region slightly decreased to $50,241 thousand in 2023 from $50,739 thousand in 2022[178] - The company's inventory value at the end of 2023 was $57,024 thousand, down from $58,605 thousand in 2022[175] - The provision for inventory write-down to net realizable value increased significantly to $3,366 thousand in 2023 from $75 thousand in 2022[175] Corporate Governance and Leadership - The company's board of directors includes executive and non-executive members, with changes in appointments and resignations noted in 2023 and 2024[3] - The company's audit committee includes members such as Mr. Zheng Diao and Ms. Chen Chuwen, with changes noted in 2023[4] - Peter Brendon Wyllie, an executive director, oversees business strategy execution and legal advisory work, and holds directorships in multiple subsidiaries of the company[36] - Wei-Ming Shen, the CEO, will retire from his executive director role effective March 31, 2024, and step down as CEO on May 1, 2024[37] - Shen has over 38 years of experience in graphite technology, production, sales, and business management, and previously held senior roles at GrafTech International Holdings Inc. and Oregon Material Technology Group[38] - Min Haiting, an executive director, is responsible for corporate finance, mergers and acquisitions, and bank financing, with extensive experience in banking and corporate finance[38] - Haiting previously served as the Chief Representative of the People's Bank of China in Europe and held executive roles at China Agricultural Bank (UK) Limited and China First Capital Group[39] - Hou Haolong, aged 46, joined the group in February 2012 and was appointed as an executive director on March 29, 2021. He is responsible for business foundation development, product innovation, and business strategy[40] - Wang Ping, aged 53, joined the group in August 2019 and was appointed as a non-executive director in October 2019. He has over 20 years of experience in corporate finance, auditing, and financial management[41] - Zheng Dajiao, aged 52, was appointed as an independent non-executive director on December 19, 2022. He has extensive experience in management, financial reporting, and management accounting[42] - Wei Mingde, aged 57, was appointed as an independent non-executive director on December 19, 2022. He is the chairman of Ande Capital and the Asia Green Tech Fund[43] - Chen Chuwen, aged 45, was appointed as an independent non-executive director on December 19, 2022. She has over 19 years of professional experience in accounting and corporate finance[43] - Feng Jianguo, aged 58, joined the group in March 2016 as the Chief Technology Officer. He is responsible for monitoring project implementation and providing technical support[45] - Lin Luofeng, aged 36, joined the group in June 2023 as the Chief Financial Officer. He has over 10 years of experience in corporate finance, financial management, accounting, and audit certification[45] - The company's registered office is located in the Cayman Islands, with headquarters and primary business locations in China and Hong Kong[6] - The company's major correspondent banks include Wells Fargo Bank, N.A. and Credit Suisse (Switzerland) Ltd.[7] - The company's stock code is 2459 and its website is www.sanergygroup.com[7] - The company did not recommend a final dividend for the 2023 fiscal year, compared to zero dollars in the 2022 fiscal year[48] - The company has distributable reserves of $27,760,000 as of December 31, 2023, including share premium of $28,812,000, accumulated losses of $952,000, and other debit reserves of $100,000[56] - The company donated RMB 18,000 to various charitable organizations during the 2023 fiscal year to support local community development[55] - The company's main business is the manufacturing and sales of graphite electrodes, with performance analysis by operating segment detailed in the consolidated financial statements[47] - The company's property, plant, and equipment changes for the 2023 fiscal year are detailed in the consolidated financial statements[54] - The company has no predetermined dividend payout ratio, and any future dividends will be determined by the board based on operational and profit conditions, capital requirements, and financial status[48] - The company's environmental, social, and governance (ESG) activities for 2023 are detailed in a separate ESG report published alongside the annual report[53] - The company's five-year financial performance and summary of assets and liabilities are outlined on page 116 of the annual report[57] - The company has no significant disputes with employees, customers, or suppliers during the 2023 fiscal year[52] - The company's related party transactions for the 2023 fiscal year are detailed in the consolidated financial statements[58] - Otautahi Capital Inc. holds 730,000,000 shares, representing 72.28% of the company's total issued shares of 1,010,000,000 as of December 31, 2023[64][66] - The company's share option plan has an authorized limit of 100,000,000 shares, representing 9.9% of the total issued shares as of the annual report date[72] - No share options have been granted under the share option plan since its adoption on December 19, 2022[69] - The share option plan aims to provide eligible participants with personal equity ownership opportunities and incentivize their contributions to the company's performance and growth[70] - The maximum number of shares that can be issued under the share option plan and any other company plan is 100,000,000 shares[72] - No director or senior executive has any interest in competing businesses that require disclosure under the listing rules[68] - The company's share option plan includes provisions to limit individual participants from acquiring more than 1% of the company's issued share capital within any 12-month period[73] - Share options granted to major shareholders or independent non-executive directors exceeding 0.1% of the issued shares require shareholder approval[73] - The company's global offering net proceeds amounted to approximately HKD 186.7 million, with 34.8% allocated for the acquisition of Tai Gu assets, 55.2% for upgrading production systems in Italy, China, and San Li assets, and 10.0% for working capital and general corporate purposes[79][80] - The company's top five customers accounted for 48.7% of total sales, with the largest customer contributing 17.4%. The top five suppliers accounted for 61.9% of total procurement, with the largest supplier contributing 19.0%[82] - The company's employee costs for the 2023 fiscal year were approximately USD 14.4 million, compared to USD 9.6 million in the 2022 fiscal year, with a total of 211 employees as of December 31, 2023[84] - The company's share option plan is valid for ten years from December 19, 2022, to December 18, 2032, with a minimum vesting period of 12 months for options granted under the plan[76][78] - The exercise price for any specific share option must not be less than the higher of the closing price on the grant date or the average closing price for the five business days preceding the grant date[77] - The company has not entered into any equity-linked agreements that would require the issuance of shares as of December 31, 2023[78] - The company's share option plan allows for accelerated vesting under special circumstances, such as death, disability, or performance-based conditions[76] - The company's share option plan requires a consideration of USD 1.00 for the grant of options, which must be accepted within 28 days of the grant date[75] - The company's share option plan permits the grant of options to eligible participants, with the number of shares determined by the board, subject to the plan's terms[74] - The company's share option plan allows for the grant of options to new hires as compensation for forfeited options from previous employers, with a vesting period of less than 12 months[76] - The company has purchased and maintained appropriate insurance to cover potential legal liabilities for directors and senior officers while performing their duties[87] - The public shareholding of the company remains at a sufficient level as required by the listing rules[87] - The company established an audit committee on December 16, 2022, with terms of reference in compliance with the Corporate Governance Code[87] - The company replaced Ernst & Young with Deloitte as its auditor effective July 31, 2023, due to a disagreement over audit fees for the fiscal year ending December 31, 2023[88] - Deloitte audited the company's consolidated financial statements for the 2023 fiscal year and is eligible for re-appointment at the 2024 Annual General Meeting[89] - The company adheres to the principles and code provisions of the Corporate Governance Code, with the roles of Chairman and CEO separated as required[91] - The Board of Directors consists of 8 members, including 4 executive directors, 1 non-executive director, and 3 independent non-executive directors as of December 31, 2023[93] - The company ensures that at least one-third of the Board members are independent non-executive directors, in compliance with the listing rules[95] - Non-executive directors, including independent non-executive directors, are appointed for fixed terms, with one-third of the directors required to retire by rotation at each Annual General Meeting[96] - The company has arranged appropriate insurance to cover legal actions against directors and senior officers, with the Board approving a procedure for directors to seek independent professional advice at the company's expense[98] - All directors participated in appropriate continuous professional development activities during the 2023 fiscal year, including attending training sessions and reviewing materials related to the company's business, director responsibilities, and corporate governance[99] - The company held a total of 9 board meetings and 1 shareholders' meeting in the 2023 fiscal year, with attendance records provided for each director[100][101] - The Remuneration Committee held 1 meeting in the 2023 fiscal year, with all members attending[102][103] - The Nomination Committee held 1 meeting in the 2023 fiscal year, with all members attending[106][107] - The company has adopted a Board Diversity Policy, aiming to achieve a diverse board composition, including at least one member of a different gender[108][109] - The gender ratio of the company's employees (including senior management) was approximately 7:1 (male:female) as of December 31, 2023[110] - The audit committee held 3 meetings in the 2023 fiscal year, with all members attending all meetings[111][112] - The company paid $256,000 for audit services and $26,000 for non-audit services in the 2023 fiscal year[114] - The environmental, social, and governance (ESG) committee held 1 meeting in the 2023 fiscal year, with all members attending[115][116] - The company's financial statements for the 2023 fiscal year were audited by Deloitte Touche Tohmatsu[114] - The audit committee reviewed the company's 2022 fiscal year annual results and the interim report for the six months ended June 30, 2023[113] - The ESG committee reviewed the company's 2022 fiscal year ESG report and results[116] - The company has a risk management and internal control system in place to manage risks related to achieving strategic objectives[119][120] - The company conducted an annual risk assessment, identifying and prioritizing major risks that could impact strategic objectives[120] - The company does not have an internal audit department but hires external independent professional firms when necessary[120] - The board of directors is responsible for the company's risk management and internal control systems[119][120] - The company has established and maintained a robust risk management and internal control system, which was deemed effective and adequate for the 2023 fiscal year[121] - The company has implemented an insider information disclosure policy to manage and control the dissemination of insider information[122] - The company has strengthened investor relations by arranging visits to factories and meetings with institutional investors, potential investors, financial analysts, and fund managers[124] -

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 告 的 內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 會 就 因 本 公 告 全 部 或 任 何 部 分 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 SANERGY GROUP LIMITED 昇能集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2459） 截 至 二 零 二 三 年 十 二 月 三 十 一 日 止 年 度 之 全 年 業 績 公 告 昇 能 集 團 有 限 公 司（「本 公 司」，連 同 其 附 屬 公 司 統 稱「本 集 團」）董 事（「董 事」） 會（「董 事 會」）欣 然 宣 佈 本 公 司 及 其 附 屬 公 司 截 至 二 零 二 三 年 十 二 月 三 十 一 日 止 年 度（「二 零 二 三 財 政 年 度」）之 經 審 核 綜 合 業 績 連 同 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度（「二 ...

9 SANERGY SANERGY GROUP LIMITED 异能集團有限公司 t於開曼群島註冊成立的有限公司) 股份代號 : 2459 中期報告 2023 目錄 2 公司資料 4 公司簡介 5 釋義 8 管理層討論及分析 18 其他資料 26 簡明綜合財務報表審閱報告 28 簡明綜合損益及其他全面收益表 30 簡明綜合財務狀況表 32 簡明綜合權益變動表 33 簡明綜合現金流量表 35 簡明綜合財務報表附註 公司資料 董事曾 審核委員會 執行董事 鄭大鈞先生(主席) 魏明德先生 Peter Brendon Wyllie 先生(主席) (於二零二三年五月十九日獲委任) 陳楚雯女士 孫慶先生 Wei-Ming Shen 博士 (前主席,自二零二三年 (於二零二三年四月十二日辭任) 五月十九日起辭任) 提名委員會 (行政總裁) Peter Brendon Wyllie先生(主席) 侯皓濛先生 (於二零二三年五月十九日獲委任) 閏海亭先生 鄭大釣先生 Adriaan Johannes Basson 先生 陳楚雯女士 (於二零二三五月十九日退任) (於二零二三年四月十二日獲委任) 孫慶先生 非執行董事 (於二零二三 ...

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 告 的 內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 會 就 因 本 公 告 全 部 或 任 何 部 分 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 截 至 六 月 三 十 日 止 六 個 月 SANERGY GROUP LIMITED 昇能集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2459） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 之 中 期 業 績 公 告 昇 能 集 團 有 限 公 司（「本 公 司」，連 同 其 附 屬 公 司 統 稱「本 集 團」）董 事（「董 事」） 會（「董 事 會」）欣 然 宣 佈 本 集 團 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月（「報 告 期 間」）或（「二 零 二 三 年 上 半 年」）之 未 經 審 核 綜 合 業 績 連 同 截 至 二 零 二 二 年 六 月 ...

目 錄 2 公司資料 40-43 獨立核數師報告 3 公司簡介 44 綜合損益表 4-5 釋義 45 綜合全面收益表 6 主席致辭 46-47 綜合財務狀況表 7 財務摘要 48 綜合權益變動表 8-11 管理層討論及分析 49-50 綜合現金流量表 12-17 董事及高級管理層簡介 51-119 財務報表附註 18-29 董事會報告 120 五年財務概要 30-39 企業管治報告 公司資料 董事會 環境、社會及管治委員會 魏明德先生（主席） 執行董事 閆海亭先生 Wei-Ming Shen博士（行政總裁兼主席） 陳楚雯女士（於二零二三年四月十二日獲委任） 侯 ...

香 港 交 易 及 結 算 所 有 限 公 司、香 港 聯 合 交 易 所 有 限 公 司 及 香 港 中 央 結 算 有 限 公 司 對 本 公 告 的 內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 會 就 因 本 公 告 全 部 或 任 何 部 分 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 截 至 十 二 月 三 十 一 日 止 年 度 SANERGY GROUP LIMITED 昇能集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2459） 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度 之 全 年 業 績 公 告 昇 能 集 團 有 限 公 司（「本 公 司」，連 同 其 附 屬 公 司 統 稱「本 集 團」）董 事（「董 事」） 會（「董 事 會」）欣 然 宣 佈 本 公 司 及 其 附 屬 公 司 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度（「二 零 二 二 財 政 年 度」）之 經 審 核 綜 合 業 ...