高地股份：2024年報.pdf

1、Annual Report 年報(Formerly known as China Shenghai Group Limited)(前稱中國升海集團有限公司)(Incorporated in the Cayman Islands with limited liability)(於開曼群島註冊成立之有限公司)Stock Code 股份代號:1676高地股份有限公司Gaodi Holdings Limited20241高地股份有限公司|二零二四年度報告Gaodi Holdings Limited|Annual Report 2024CONTENTS目錄2Corporate Information公司

2、資料4Chairmans Statement主席報告書6Biographical Details of the Directors董事履歷8Management Discussion and Analysis管理層討論與分析14Report of the Directors董事會報告23Corporate Governance Report企業管治報告38Independent Auditors Report獨立核數師報告書44Consolidated Statement of Profit and Loss and Other Comprehensive Income綜合損益及其他全面收益表

3、45Consolidated Statement of Financial Position綜合財務狀況表46Consolidated Statement of Changes in Equity綜合權益變動表47Consolidated Statement of Cash Flows綜合現金流量表49Notes to the Consolidated Financial Statements綜合財務報表附註124Five-year Financial Summary五年財務摘要2 CORPORATE INFORMATION公司資料 高地股份有限公司|二零二四年度報告Gaodi Holding

4、s Limited|Annual Report 2024執行董事李霆鋒先生（主席及行政總裁）（於二零二三年八月十八日獲委任為執 行董事及行政總裁以及於二零二四年七月 二十九日獲委任為主席）胡紅初先生（主席）（於二零二三年十二 月十九日調任為主席及於二零二四年七月 二十九日辭任）劉榮如先生（行政總裁）（於二零二三年八月十八日辭任）黃經勝先生（於二零二三年十二月十九日獲 委任）洪吉翔先生（於二零二四年六月二十一日獲 委任）陳純女士李艷鳳女士（於二零二三年七月二十一日辭 任）非執行董事劉傳義先生（聯席主席）（於二零二三年 十二月十九日辭任）陳富添先生（於二零二四年六月二十一日辭 任）獨立非執行董事周

5、潤璋先生（於二零二三年七月二十一日辭 任）岑政熹先生（於二零二三年七月二十一日獲 委任）林振青先生（於二零二三年十二月十九日辭 任）楊敏達先生（於二零二三年十二月十九日獲 委任）何建先生審核委員會岑政熹先生（主席）何建先生楊敏達先生提名委員會何建先生（主席）岑政熹先生楊敏達先生薪酬委員會楊敏達先生（主席）岑政熹先生何建先生公司秘書王世雄先生授權代表洪吉翔先生李霆鋒先生EXECUTIVE DIRECTORSMr.Li Tingfeng(Chairman and Chief Executive Officer)(appointed as executive director and chief e

6、xecutive officer on 18 August 2023 and appointed as chairman on 29 July 2024)Mr.Hu Hongchu(Chairman)(redesignated as Chairman on 19 December 2023 and resigned on 29 July 2024)Mr.Liu Rongru(Chief Executive Officer)(resigned on 18 August 2023)Mr.Huang Jingsheng(appointed on 19 December 2023)Mr.Hong Ji

7、xiang(appointed on 21 June 2024)Ms.Chen ChunMs.Li Yanfeng(resigned on 21 July 2023)NON-EXECUTIVE DIRECTORSMr.Liu Chuanyi(Joint-Chairman)(resigned on 19 December 2023)Mr.Chen Futian(resigned on 21 June 2024)INDEPENDENT NON-EXECUTIVE DIRECTORSMr.Chow Yun Cheung(resigned on 21 July 2023)Mr.Shum Ching H

8、ei(appointed on 21 July 2023)Mr.Lin Zhenqing(resigned on 19 December 2023)Mr.Yang Minda(appointed on 19 December 2023)Mr.He JianAUDIT COMMITTEEMr.Shum Ching Hei(Chairman)Mr.He JianMr.Yang MindaNOMINATION COMMITTEEMr.He Jian(Chairman)Mr.Shum Ching HeiMr.Yang MindaREMUNERATION COMMITTEEMr.Yang Minda(C

9、hairman)Mr.Shum Ching HeiMr.He JianCOMPANY SECRETARYMr.Wong Sai HungAUTHORISED REPRESENTATIVESMr.Hong JixiangMr.Li Tingfeng CORPORATE INFORMATION公司資料 3高地股份有限公司|二零二四年度報告Gaodi Holdings Limited|Annual Report 2024核數師長青（香港）會計師事務所有限公司 香港灣仔 駱克道188號 兆安中心24樓香港法律顧問鴻鵠律師事務所 香港 港灣道18號 中環廣場 新翼6樓主要往來銀行中國銀行石獅支行 中國福

10、建省泉州市 石獅市八七路2059號 中銀大廈主要股份過戶登記處Conyers Trust Company(Cayman)Limited Cricket Square Hutchins Drive PO Box 2681,Grand Cayman KY1-1111,Cayman Islands香港股份過戶登記分處香港中央證券登記有限公司 香港 灣仔 皇后大道東183號 合和中心 17樓1712-1716號舖開曼群島註冊辦事處Cricket Square Hutchins Drive PO Box 2681,Grand Cayman KY1-1111,Cayman Islands中國總部及主要營業

11、地點福建省泉州市石獅市鳳里街道 八七路2032號香港主要營業地點香港上環德輔道中199號 無限極廣場35樓網址股份代號01676AUDITORSMcMillan Woods(Hong Kong)CPA Limited 24/F,Siu On Centre,188 Lockhart Road,Wan Chai,Hong KongLEGAL ADVISER AS TO HONG KONG LAWBird&Bird 6/F,The Annex Central Plaza 18 Harbour Road Hong KongPRINCIPAL BANKERSBank of China Shishi Br

12、anch BOC Building,2059 Ba Qi Road Shishi,Quanzhou,Fujian PRCPRINCIPAL REGISTRAR AND TRANSFER OFFICEConyers Trust Company(Cayman)Limited Cricket Square Hutchins Drive PO Box 2681,Grand Cayman KY1-1111,Cayman IslandsHONG KONG BRANCH REGISTRAR AND TRANSFER OFFICEComputershare Hong Kong Investor Service

13、s Limited Shops 1712-1716,17th Floor Hopewell Centre 183 Queens Road East Wan Chai Hong KongREGISTERED OFFICE IN THE CAYMAN ISLANDSCricket Square Hutchins Drive PO Box 2681,Grand Cayman KY1-1111,Cayman IslandsHEADQUARTER AND PRINCIPAL PLACE OF BUSINESS IN THE PRC2032,Baqi Road,Fengli Street,Shishi Q

14、uanzhou,FujianPRINCIPAL PLACE OF BUSINESS IN HONG KONGLevel 35,Infinitus Plaza,199 Des Voeux Road Central,Sheung Wan,Hong KongWEBSITESTOCK CODE016764 CHAIRMANS STATEMENT主席報告書 高地股份有限公司|二零二四年度報告Gaodi Holdings Limited|Annual Report 2024尊敬的各位股東：本人謹代表董事會向股東匯報高地股份有限公司（前稱中國升海集團有限公司）（本公司）及其附屬公司（統稱 本集團）截至二零二

15、四年六月三十日止年度（二零二四年或 報告期間），連同截至二零二三年六月三十日止十八個月（二零二三年）對比數字的年度報告。業務回顧統計顯示，二零二三年中國GDP超過人民幣1.26萬億元，增速比二零二二年加快2.2%。中國整體經濟在疫情後開始展示出穩定勢頭。在國民經濟主要行業中，二零二三年國內主要產業均保持穩健增長態勢，其中糧食總產量達69,541萬噸，再創歷史新高；製造業增長5.0%；住宿和餐飲業、資訊傳輸等行業更實現兩位數增長。於報告期間內，本集團來自食品業務的收益由二零二三年的人民幣530.2百萬元下跌33.1%至人民幣354.9百萬元，分部毛利由二零二三年的人民幣16.7百萬元下跌28.8

16、%至人民幣11.9百萬元，毛利率由二零二三年的3.2%輕微改善至3.4%。若以二零二二年七月一日至二零二三年六月三十日止十二個月期間作比較，本集團來自食品業務的收益則由人民幣408.5百萬元下跌13.1%至人民幣354.9百萬元，分部毛利由二零二三年的人民幣13.0百萬元下跌8.5%至人民幣11.9百萬元，毛利率則從3.2%輕微改善至3.4%。另外，由於銷售及分銷成本減少，以及報告期間並未有就貿易應收款項確認虧損，本集團於報告期間內虧損減少至約人民幣79.9百萬元。Dear Shareholders,On behalf of the Board of Directors of Gaodi Ho

17、ldings Limited(formerly known as China Shenghai Group Limited)(the“Company”)and its subsidiaries(collectively,the“Group”),I report to shareholders our annual report for the year ended 30 June 2024(the“Year 2024”or the“Reporting Period”),together with the comparative figures for the eighteen months e

18、nded 30 June 2023(the“2023”).BUSINESS REVIEWStatistics show that Chinas GDP exceeded RMB1.26 trillion in 2023,with a growth rate 2.2%higher than that in 2022.Chinas overall economy began to show a stable trend after the epidemic.Among the major industries of the national economy,major domestic indus

19、tries maintained a steady growth trend in 2023,of which the total food output reached 695.41 million tons,setting a new record;the manufacturing industry grew by 5.0%;the accommodation and food and beverage industry,information transmission and other industries achieved double-digit growth.During th

20、e Reporting Period,the Groups revenue from the food products business decreased by 33.1%to RMB354.9 million from RMB530.2 million in 2023.Segment gross profit decreased by 28.8%to RMB11.9 million from RMB16.7 million in 2023.Gross margin slightly increased from 3.2%in 2023 to 3.4%.If a comparison is

21、 made for the twelve-month period from 1 July 2022 to 30 June 2023,the Groups revenue from the food products business decreased by 13.1%from RMB408.5 million to RMB354.9 million.Segment gross profit decreased by 8.5%from RMB13.0 million in 2023 to RMB11.9 million.Gross margin slightly improved from

22、3.2%to 3.4%.In addition,due to the reduction in sales and distribution costs and the absence of recognized losses on trade receivables during the Reporting Period,the Groups loss for the Reporting Period decreased to approximately RMB79.9 million.CHAIRMANS STATEMENT主席報告書 5高地股份有限公司|二零二四年度報告Gaodi Hold

23、ings Limited|Annual Report 2024OUTLOOKAs the Chinese government gradually releases policies to stimulate the economy,we expect the domestic economic operation to be stable with progress.Since the beginning of this year,measures such as large-scale equipment upgrades,consumer goods trade-in,and ultra

24、-long-term special government bonds have been implemented,and their stimulating effects on investment and consumption will gradually emerge.The growth of household consumption was a significant driving force for Chinas economic growth in 2023.As the growth rate of disposable income exceeds the GDP G

25、rowth rate and the savings rate continues to decrease gradually,according to research released by Goldman Sachs Research Department,it is expected that household consumption expenditure will grow by 6.0%in 2024.Afterwards,consumption will be a relatively stable recovery process and is expected to re

26、turn to the trend level in the next two to three years.On 24 May 2024,Golden Shenghai Holdings Limited,a wholly-owned subsidiary of the Company,entered into the Shenghai Acquisition Agreements with various suppliers in relation to acquisition of equipment relating to establishment of a bar offering

27、beverage and refreshment in the PRC,at the total consideration of approximately RMB12 million,in order to expand the food and beverage business.We believe that the establishment of the new food and beverage business has good growth potential and will be a value-adding complement to the Groups existi

28、ng business,and improve the Groups operating results.The Group will continue to diversify its business development strategies by venturing into new markets and expanding its businesses in order to remain competitive.APPRECIATIONOn behalf of the Board,I would like to express my most sincere gratitude

29、 to all the staff.I would also like to extend my gratitude to our shareholders,investors,long-term customers and suppliers for their continual devotion and consistent support.We will continue to adhere to our initial vision and uphold the pragmatic operation and positive approach to achieve developm

30、ent and actual results to reward the trust from all of you.Gaodi Holdings LimitedLi TingfengChairman and Chief Executive Officer30 September 2024展望隨著中國政府逐步釋放出刺激經濟的政策，我們預期國內經濟運行將穩中有進。今年以來，大規模設備更新和消費品以舊換新、超長期特別國債等舉措落地，對投資和消費等拉動作用將逐步顯現。居民消費增長於二零二三年對中國經濟增長是很大的驅動力。隨著可支配收入增速超出GDP增速、儲蓄率繼續逐步下行，根據高盛研究部發佈的研究，

31、預計二零二四年居民消費支出增長為6.0%。之後消費將是比較穩定的恢復過程，未來兩三年有望回到趨勢水準上。於二零二四年五月二十四日，本公司的全資附屬公司金升?？毓捎邢薰九c多家供應商訂立升海收購協議，內容有關收購與於中國設立一家供應水飲及小食的酒吧相關的設備，總代價為約人民幣12百萬元，藉此拓展餐飲業務。我們認為，設立新餐飲業務具有良好的成長潛力，將是對本集團現有業務的增值補充，並改善本集團的經營業績。本集團將繼續採取多元化業務發展策略，進軍新市場並擴展業務，以保持競爭力。致謝本人最後僅代表董事會，向全體員工致以最衷心的謝意，同時亦感謝股東、投資者、長期客戶及供應商的全力支持，我們定將繼續堅守初

32、心、務實經營，積極謀求發展，以實際的業績回報大家的信賴。高地股份有限公司主席兼行政總裁李霆鋒二零二四年九月三十日6 BIOGRAPHICAL DETAILS OF THE DIRECTORS董事履歷 高地股份有限公司|二零二四年度報告Gaodi Holdings Limited|Annual Report 2024執行董事李霆鋒先生（李先生），33歲，李先生畢業於英國南威爾士大學，主修國際商務及金融。李先生於資產管理、企業經營及商業管理，特別於消費品，餐飲及農產品供應鏈等行業擁有多年經驗。在加入本集團前，李先生任職於南科大資產經營管理有限公司，主要負責消費品、餐飲、農產品產業鏈等板塊之策略投資

33、，並參與多項消費品及餐飲業投資項目之策略制定及經營管理。李先生主要負責本集團的策略規劃及執行。黃經勝先生（黃先生），49歲，黃先生畢業於西南大學，主修工商管理。黃先生為菜丁控股集團有限公司之創辦人，於企業經營及商業管理，特別於農貿市場及農產品供應鏈等行業擁有多年經驗。黃先生現為菜丁控股集團有限公司之董事長、廣東省河源市政協常委、廣東省河源商會終身功勛創會常務副會長、河源市海外聯誼會第四屆理事會名譽會長、中山市河源商會創會會長及中山市青年企業家協會副會長。洪吉翔先生（洪先生），36歲，洪先生畢業於北京交通大學，主修項目管理。洪先生為深圳市伊奇信電子科技有限公司（伊奇信電子）之總經理，於商業管理，

34、特別於電子工程領域擁有多年經驗。洪先生負責制定伊奇信電子的發展策略及業務規劃管理。陳純女士（陳女士），46歲。陳女士於二零零零年畢業於西南交通大學並取得經濟法學士學位，並於二零零四年於中山大學取得法學（訴訟法學）碩士學位。陳女士曾於二零零四年至二零一七年期間於深圳市南山區人民檢察院擔任檢察官。在加入本集團前，陳女士為深圳市博網科技有限公司之法務總監。陳女士主要負責本集團的法務事宜。EXECUTIVE DIRECTORSMr.Li Tingfeng(“Mr.Li”),aged 33,Mr.Li graduated from the University of South Wales in the

35、 United Kingdom,majoring in International Business and Finance.Mr.Li has many years of experience in asset management,enterprise operations and business management,especially in consumer goods,catering and agricultural product supply chain industries.Before joining the Group,Mr.Li worked in Southern

36、 University of Science and Technology Asset Management Co.,Ltd.,mainly responsible for strategic investment in consumer goods,catering,agricultural product industry chain and other sectors,and participated in the strategy formulation and operation management of a number of consumer goods and caterin

37、g industry investment projects.Mr.Li is primarily responsible for the strategy planning and execution of our Group.Mr.Huang Jingsheng(“Mr.Huang”),aged 49,Mr.Huang graduated from the South West University,majoring in business management.Mr.Huang is the founder of Caiding Holdings Group Limited and ha

38、s many years of experience in enterprise operations and business management,especially in agricultural market,and agricultural product supply chain industries.Mr.Huang is currently the chairman of Caiding Holdings Group Limited,Member of the Standing Committee of the Heyuan Municipal Peoples Politic

39、al Consultative Conference of Guangdong Province,Lifetime Merit Founding Executive Vice President of the Guangdong Province Heyuan Chamber of Commerce,Honorary President of the fourth council of the Heyuan Overseas Friendship Association,Founding President of the Zhongshan City Heyuan Chamber of Com

40、merce and Vice President of the Zhongshan City Young Entrepreneurs Association President.Mr.Hong Jixiang(“Mr.Hong”),aged 36,Mr.Hong graduated from the Beijing Jiaotong University,majoring in project management.Mr.Hong served as the general manager of Shenzhen Yiqixin Electronic Technology Co.,Ltd(“Y

41、iqixin Electronic”)and has many years of experience in business management,especially in fields of electronics engineering.Mr.Hong was responsible for formulating the development strategy and business plan management of Yiqixin Electronic.Ms.Chen Chun(“Ms.Chen”),aged 46.Ms.Chen graduated from Southw

42、est Jiaotong University with a bachelor degree in Economic Law in 2000,and obtained a master degree in Law(Litigation Law)from Sun Yat-sen University in 2004.Ms.Chen worked as an Attorney in Shenzhen Nanshan District Peoples Procuratorate from 2004 to 2017.Before joining the Group,Ms.Chen was the le

43、gal director of Shenzhen Bowang Technology Co.,Ltd.Ms.Chen is primarily responsible for the legal affairs of our Group.BIOGRAPHICAL DETAILS OF THE DIRECTORS董事履歷 7高地股份有限公司|二零二四年度報告Gaodi Holdings Limited|Annual Report 2024INDEPENDENT NON-EXECUTIVE DIRECTORSMr.Shum Ching Hei(“Mr.Shum”),aged 36,is curre

44、ntly the Managing Director of Carlyon Group,a boutique Hong Kong SFC licensed investment bank;a member of the Guangdong Yunfu Municipal Peoples Political Consultative Conference;and the deputy chief supervisor of the Hong Kong Road Safety Patrol.Mr.Shum has over 15 years of experience in accounting,

45、corporate finance and compliance.He obtained a Bachelor of Commerce Honors Degree from McMaster University,Canada,and is a fellow member of the Hong Kong Institute of Certified Public Accountants,the Institute of Financial Accountants United Kingdom,the Institute of Public Accountants Australia and

46、the Certified Management Accountants Australia.From 2016 to 2019,Mr.Shum served as director of corporate finance in South China Financial Group.From 2019 to 2022,Mr.Shum served as an executive director at FUTEC Financial Group.Mr.Yang Minda(“Mr.Yang”),aged 37,Mr.Yang graduated from Guangdong Univers

47、ity of Foreign Studies,majoring in Finance.Mr.Yang has more than twelve years of experience in the fields of private equity fund issuance,project investment,project research and analysis,and financial product design.Mr.Yang is currently the co-founder of a financial holding group and serves as the p

48、roject director,providing professional advice,risk advice and project analysis suggestions for different proposed listing projects.Mr.He Jian(“Mr.He”),aged 36,graduated from South China University of Technology in 2009.From 2010 to 2020,Mr.He worked as managerial positions in various enterprises eng

49、aged in civil engineering,food processing and cultivation.Mr.He is currently the General Manager of 珠海市實建洲際實業有限公司(Zhuhai Shijian Intercontinental Industrial Co.,Ltd.).獨立非執行董事岑政熹先生（岑先生），36歲，現為持有香港証監會牌照的精品投資銀行格理昂集團的董事總經理、廣東省雲浮市政協委員及香港交通安全隊副總隊監。岑先生於會計、企業融資及合規方面擁有超過15年經驗。彼取得加拿大麥馬斯達大學商業學士榮譽學位，並為香港會計師公會、英

50、國財務會計師公會、澳洲公共會計師協會及澳洲管理會計師公會的資深會員。於二零一六年至二零一九年期間，岑先生於南華金融集團出任企業融資董事。自二零一九年至二零二二年期間，岑先生於富德金融集團出任執行董事。楊敏達先生（楊先生），37歲，楊先生畢業於廣東外語外貿大學，主修金融學。楊先生在私募基金發行、項目投資、項目調研分析、金融產品設計等領域擁有超過十二年經驗。楊先生現為一間金融控股集團之聯合創辦人，並擔任專案總監，為不同的擬上市項目提供專業意見、風險意見及項目分析建議。何建先生（何先生），36歲，於二零零九年畢業於華南理工大學。自二零一零年至二零二零年，何先生於數家從事土木工程、食品加工及養殖之企業

51、出任管理職位。何先生現為珠海市實建洲際實業有限公司之總經理。8MANAGEMENT DISCUSSIONAND ANALYSIS管理層討論與分析 高地股份有限公司|二零二四年度報告Gaodi Holdings Limited|Annual Report 2024業務回顧統計顯示，二零二三年中國GDP超過人民幣1.26萬億元，增速比二零二二年加快2.2%。中國整體經濟在疫情後開始展示出穩定勢頭。在國民經濟主要行業中，二零二三年國內主要產業均保持穩健增長態勢，其中糧食總產量達69,541萬噸，再創歷史新高；製造業增長5.0%；住宿和餐飲業、資訊傳輸等行業更實現兩位數增長。於報告期間內，本集團來自食

52、品業務的收益由二零二三年的人民幣530.2百萬元下跌33.1%至人民幣354.9百萬元，分部毛利由二零二三年的人民幣16.7百萬元下跌28.8%至人民幣11.9百萬元，毛利率由二零二三年的3.2%輕微改善至3.4%。若以二零二二年七月一日至二零二三年六月三十日止十二個月期間作比較，本集團來自食品業務的收益則由人民幣408.5百萬元下跌13.1%至人民幣354.9百萬元，分部毛利由二零二三年的人民幣13.0百萬元下跌8.5%至人民幣11.9百萬元，毛利率則從3.2%輕微改善至3.4%。另外，由於銷售及分銷成本減少，以及報告期間並未有就貿易應收款項確認虧損，本集團於報告期間內虧損減少至約人民幣79

53、.9百萬元。食品業務本集團擁有含不同原材料且口味及包裝各不相同的全面產品組合，而每種產品均各具特色。本集團尋求透過提供豐富多樣及便利的安全優質產品選擇，創造促進整體銷售的更多機會，從競爭對手中脫穎而出。於報告期間，本集團提供超過100種乾海產品、30種藻類產品及菌類產品，以及60種海洋休閒產品。本集團透過超市、貿易公司、便利店及其他銷售管道（如食品公司、禮品店及零售電商）銷售產品。於報告期間內，本集團繼續加強在超市的營銷工作及採取靈活定價，已取得一定成果，產品毛利已有改善。本集團來自食品業務的收益由二零二三年的人民幣530.2百萬元下跌33.1%至人民幣354.9百萬元，分部毛利由二零二三年的

54、人民幣16.7百萬元下跌28.8%至人民幣11.9百萬元，毛利率由二零二三年的3.2%輕微改善至3.4%。若以二零二二年七月一日至二零二三年六月三十日止十二個月期間作比較，本集團來自食品業務的收益則由人民幣408.5百萬元下跌13.1%至人民幣354.9百萬元，分部毛利由二零二三年的人民幣13.0百萬元下跌8.5%至人民幣11.9百萬元，毛利率則從3.2%輕微改善至3.4%。其他業務二零二零年年初，本集團展開其快速消費品業務，該業務將主要涉及向香港及南韓銷售中國的化妝品、日用品、時裝及配飾。由於環球供應鏈持續改善，加上疫情高峰期後的消費支出有所放緩，本集團已暫停提供採購服務。BUSINESS

55、REVIEWStatistics show that Chinas GDP exceeded RMB1.26 trillion in 2023,with a growth rate 2.2%higher than that in 2022.Chinas overall economy began to show a stable trend after the epidemic.Among the major industries of the national economy,major domestic industries maintained a steady growth trend

56、 in 2023,of which the total grain food output reached 695.41 million tons,setting a new record;the manufacturing industry grew by 5.0%;the accommodation and food and beverage industry,information transmission and other industries achieved double-digit growth.During the Reporting Period,the Groups re

57、venue from the food products business decreased by 33.1%to RMB354.9 million from RMB530.2 million in 2023.Segment gross profit decreased by 28.8%to RMB11.9 million from RMB16.7 million in 2023.Gross margin slightly increased from 3.2%in 2023 to 3.4%.If a comparison is made for the twelve-month perio

58、d from 1 July 2022 to 30 June 2023,the Groups revenue from the food products business decreased by 13.1%from RMB408.5 million to RMB354.9 million.Segment gross profit decreased by 8.5%from RMB13.0 million in 2023 to RMB11.9 million.Gross margin slightly improved from 3.2%to 3.4%.In addition,due to t

59、he reduction in sales and distribution costs and the absence of recognized losses on trade receivables during the Reporting Period,the Groups loss for the Reporting Period decreased to approximately RMB79.9 million.FOOD PRODUCTS BUSINESSThe Group has a comprehensive product portfolio with different

60、raw materials,flavouring and packaging and considers each product to be distinctive.The Group seeks to differentiate itself from its competitors by providing a broad and convenient choice of safe and quality products,which creates additional opportunities to drive the overall sales.During the Report

61、ing Period,the Group offered over 100 types of dried seafood,30 types of algae and fungi,and 60 types of seafood snacks.The Groups products are sold through supermarkets,trading companies,convenience stores and other sales channels,such as food companies,gift stores and e-commerce retailers.During t

62、he Reporting Period,the Group continued to strengthen its marketing efforts in supermarkets and adopted flexible pricing,which has achieved certain results,and the gross profit has been improved.The Groups revenue from the food products business decreased by 33.1%to RMB354.9 million from RMB530.2 mi

63、llion in 2023.Segment gross profit decreased by 28.8%to RMB11.9 million from RMB16.7 million in 2023.Gross margin slightly increased from 3.2%in 2023 to 3.4%.If a comparison is made for the twelve-month period from 1 July 2022 to 30 June 2023,the Groups revenue from the food products business decrea

64、sed by 13.1%from RMB408.5 million to RMB354.9 million.Segment gross profit decreased by 8.5%from RMB13.0 million in 2023 to RMB11.9 million.Gross margin slightly improved from 3.2%to 3.4%.OTHER BUSINESSIn early 2020,the Group began our fast moving consumer goods business,which mainly involves in the

65、 sales of cosmetics,daily necessities,fashion and accessories selling to Hong Kong and South Korea from China.Due to the continued improvement of the global supply chain and the slowdown in consumer spending after the peak of the epidemic,the Group has suspended the provision of procurement services

66、.MANAGEMENT DISCUSSIONAND ANALYSIS管理層討論與分析 9高地股份有限公司|二零二四年度報告Gaodi Holdings Limited|Annual Report 2024OPERATING RESULTS AND FINANCIAL REVIEWREVENUEDuring the Reporting Period,the Groups revenue from the food business decreased by 33.1%from RMB530.2 million in 2023 to RMB354.9 million.If a comparison

67、 is made for the twelve-month period from 1 July 2022 to 30 June 2023,the Groups revenue from the food products business decreased by 13.1%from RMB408.5 million to RMB354.9 million.The table below sets out a breakdown of the Groups revenue categorized by product types during the Reporting Period:Yea

68、r ended30 June2024%to total revenue1 January 2022 to 30 June 2023%to total revenue截至二零二四年六月三十日止年度佔總收益的百分比二零二二年一月一日至二零二三年六月三十日佔總收益的百分比RMB000RMB000人民幣千元人民幣千元 Food Products Business食品業務354,863100.0%530,207100.0%Other Business其他業務0.0%0.0%Total總計354,863530,207 GROSS PROFIT AND GROSS PROFIT MARGINGross pr

69、ofit represents our revenue less our cost of sales,and our gross profit margin represents gross profit divided by revenue,expressed as a percentage.The following table sets forth the gross profit and gross profit margin by segment for the Reporting Period:Year ended30 June2024Gross profit margin1 Ja

70、nuary2022 to30 June2023Gross profit margin截至二零二四年六月三十日止年度毛利率二零二二年一月一日至二零二三年六月三十日毛利率RMB000(%)RMB000(%)人民幣千元人民幣千元 Food Products Business食品業務11,9273.4%16,7443.2Other Business其他業務N/A不適用N/A不適用 Total總計11,9273.4%16,7443.2 During the Reporting Period,the Groups gross profit margin improved slightly from 3.2

71、%in 2023 to 3.4%.The improvement in gross profit margin was mainly the results of the Groups flexible pricing.經營業績及財務回顧收益於報告期間內，本集團來自食品業務的收益由二零二三年的人民幣530.2百萬元下跌33.1%至人民幣354.9百萬元。若以二零二二年七月一日至二零二三年六月三十日止十二個月期間作比較，本集團來自食品業務的收益則由人民幣408.5百萬元下跌13.1%至人民幣354.9百萬元。下表載列於報告期間內按本集團產品類別劃分的收益：毛利及毛利率毛利指收益減銷售成本，毛利率

72、指毛利除以收益，以百分比列示。下表載列於報告期間內按分部劃分的毛利及毛利率：於報告期間內，本集團毛利率由二零二三年的3.2%輕微改善至3.4%。毛利率改善主要是由於本集團採取靈活定價所致。10MANAGEMENT DISCUSSIONAND ANALYSIS管理層討論與分析 高地股份有限公司|二零二四年度報告Gaodi Holdings Limited|Annual Report 2024其他收入（支出）及其他收益（虧損）淨額其他收入指銀行存款利息收入以及廠房及設備的撇賬。銷售及分銷開支銷售及分銷開支主要包括從事銷售及推廣活動的僱員的薪金及僱員福利開支、運輸開支、廣告及推廣開支、租賃開支及其他

73、開支。相關跌幅乃主要由於報告期間內對推廣及廣告活動的成本收緊控制。行政開支行政開支主要包括薪金及僱員福利開支、租賃開支、辦公開支、折舊及其他。相關跌幅主要由於報告期間內緊縮成本控制下跌所致。所得稅開支所得稅開支主要包括按適用稅率25%繳納的企業所得稅。於報告期間，所得稅抵免約人民幣1.7百萬元（二零二三年：所得稅抵免人民幣0.8百萬元）。根據開曼群島及英屬處女群島（英屬處女群島）的規則及規例，本集團毋須繳納任何開曼群島及英屬處女群島所得稅。於報告期間及二零二三年，香港利得稅按估計應課稅溢利的16.5%計算。流動資金及財務資源及資本架構現金流量於報告期間內，本集團主要以經營業務所得現金撥付營運資

74、金及其他資金需求。流動資產淨值流動資產淨值由二零二三年六月三十日約人民幣226.2百萬元下跌至二零二四年六月三十日約人民幣199.2百萬元，下跌乃主要由於現金及現金等價物及貿易應收款項減少所致?，F金及現金等價物及銀行借款於二零二四年六月三十日，本集團現金及現金等價物約為人民幣60.9百萬元，而於二零二三年六月三十日約為人民幣66.5百萬元，本集團無銀行借款。OTHER INCOME/(EXPENSES)AND OTHER GAINS/(LOSSES),NETOther income represents interest income from bank deposits and write-

75、off of plant and equipment.SELLING AND DISTRIBUTION EXPENSESSelling and distribution expenses primarily consist of salaries and employee benefit expenses for employees engaging in the sales and promotion activities,transportation expenses,advertising and promotion expenses,rental expenses and other

76、expenses.The decrease was mainly due to the tightened cost control on promotion and advertising activities during the Reporting Period.ADMINISTRATIVE EXPENSESAdministrative expenses primarily consist of salaries and employees benefit expenses,rental expenses,office expenses,depreciation and others.T

77、he decrease was mainly due to the tighten cost control during the Reporting Period.INCOME TAX EXPENSESIncome tax expense primarily consists of Enterprise Income Tax,the applicable tax rate of which being 25%.During the Reporting Period,income tax credit was approximately RMB1.7 million(2023:income t

78、ax credit of RMB0.8 million).Pursuant to the rules and regulations of the Cayman Islands and the British Virgin Islands(the“BVI”),we are not subject to any income tax in the Cayman Islands or the BVI.Hong Kong Profits Tax is calculated at 16.5%of the estimated assessable profit during the Reporting

79、Period and 2023.LIQUIDITY AND FINANCIAL RESOURCES AND CAPITAL STRUCTURESCASH FLOWSDuring the Reporting Period,the Group funded its working capital and other capital requirements principally by cash generated from our operating activities.NET CURRENT ASSETSNet current assets decreased from approximat

80、ely RMB226.2 million as at 30 June 2023 to approximately RMB199.2 million as at 30 June 2024.The decrease was primarily attributable to the decrease in cash and cash equivalents and trade receivables.CASH AND CASH EQUIVALENT AND BANK BORROWINGSAs at 30 June 2024,cash and cash equivalents of the Grou

81、p was approximately RMB60.9 million,as compared to approximately RMB66.5 million as at 30 June 2023 and the Group has no bank borrowings.MANAGEMENT DISCUSSIONAND ANALYSIS管理層討論與分析 11高地股份有限公司|二零二四年度報告Gaodi Holdings Limited|Annual Report 2024資產負債比率於二零二四年六月三十日，資產負債比率（按總債務除以報告期末權益總額）為0.26（二零二三年六月三十日：0.12

82、7）。存貨於二零二四年六月三十日，存貨為約人民幣74.7百萬元（二零二三年六月三十日：約人民幣79.2百萬元）。存貨週轉天數為約76天（二零二三年六月三十日：75天）。貿易應收款項於二零二四年六月三十日，貿易應收款項為約人民幣89.9百萬元（二零二三年六月三十日：約人民幣104.3百萬元）。本集團授予其客戶的信貸期自送貨日期翌日起計為期30至90天。貿易應收款項週轉天數為約100天（二零二三年六月三十日：約113天）。貿易應付款項於二零二四年六月三十日，貿易應付款項為約人民幣9.6百萬元（二零二三年六月三十日：約人民幣9.2百萬元）。本集團獲大多數供應商授出平均30至60天的信貸期。資本開支於

83、報告期間內，本集團的資本開支約為人民幣零元（截至二零二三年六月三十日止十八個月期間：約人民幣4.0百萬元）。資產抵押於二零二四年六月三十日，本集團概無任何資產抵押。重大投資、重大收購及出售附屬公司及聯營公司於報告期間內，本公司並無重大投資、重大收購及出售附屬公司。本集團現時並無計劃作出任何重大投資或收購資本資產，但會按本集團發展需要，繼續物色潛在投資或收購機會。購買、出售或贖回上市證券於報告期間，本公司或其任何附屬公司概無購買、出售或贖回任何本公司的上市證券。GEARING RATIOAs at 30 June 2024,the gearing ratio(calculated by tota

84、l debt divided by the total equity as at the end of the Reporting Period)was 0.26(30 June 2023:0.127).INVENTORIESAs at 30 June 2024,inventories amounted to approximately RMB74.7 million(30 June 2023:approximately RMB79.2 million).The number of inventory turnover days was approximately 76 days(30 Jun

85、e 2023:75 days).TRADE RECEIVABLESAs at 30 June 2024,trade receivables amounted to approximately RMB89.9 million(30 June 2023:approximately RMB104.3 million).The Group granted its customers a credit period of 30 to 90 days following the date of delivery.The number of turnover days for trade receivabl

86、es was approximately 100 days(30 June 2023:approximately 113 days).TRADE PAYABLESAs at 30 June 2024,trade payables amounted to approximately RMB9.6 million(30 June 2023:approximately RMB9.2 million).The Group managed to obtain a credit period of an average of 30-60 days from the majority of its supp

87、liers.CAPITAL EXPENDITURESDuring the Reporting Period,the Groups capital expenditure amounted to approximately RMBNil(eighteen months period ended 30 June 2023:approximately RMB4.0 million).PLEDGE OF ASSETSAs at 30 June 2024,the Group did not pledge any assets.SIGNIFICANT INVESTMENT,MATERIAL ACQUISI

88、TIONS AND DISPOSALS OF SUBSIDIARIES AND ASSOCIATED COMPANIESThere was no significant investment,material acquisition and disposal of subsidiaries by the Company during the Reporting Period.The Group currently has no plan to make any substantial investment in or acquisition of capital assets,but will

89、 continue to seek for potential investment or acquisition opportunities according to the Groups development needs.PURCHASE,SALE OR REDEMPTION OF LISTED SECURITIESNeither the Company nor any of its subsidiaries had purchased,sold or redeemed any of the Companys listed securities during the Reporting

90、Period.12MANAGEMENT DISCUSSIONAND ANALYSIS管理層討論與分析 高地股份有限公司|二零二四年度報告Gaodi Holdings Limited|Annual Report 2024外匯風險本集團主要於中國開展業務且其大多數經營交易以人民幣結算。大部分資產及負債以人民幣計值。雖然本集團可能承擔外匯風險，但董事會預期未來貨幣波動不會嚴重影響本集團經營。本集團於報告期間內並無採納正式對沖政策且並無使用工具作外匯對沖目的。僱員於二零二四年六月三十日，本集團合共有405名（二零二三年六月三十日：405名）全職僱員。本集團按僱員表現、經驗及現行行業常規付予僱員薪酬。為

91、挽留精英僱員，本集團提供有競爭力的薪酬待遇。待遇包括薪金、醫療保險、酌情花紅、其他福利以及香港僱員的強積金計劃及中國僱員的國家管理退休福利計劃。末期股息董事會不建議就報告期間向股東派付末期股息。認購事項所得款項淨額的用途於二零二三年十一月二十日（交易時段後），配售代理與本公司訂立配售協議，據此，配售代理有條件同意擔任本公司的配售代理，以盡最大努力促使按配售價每股配售股份1.80港元配售最多24,000,000股配售股份予不少於六(6)名承配人（彼等及其最終實益擁有人均為獨立第三方）。配售事項所得款項淨額（經扣除配售傭金及配售事項的其他開支後）估計約為42.3百萬港元，即每股配售股份的淨配售價約

92、為1.76港元。所得款項淨額擬作以下用途：(i)約12.0百萬港元用作員工開支、專業費用及其他總部開支，預期將於二零二四年十二月底前悉數動用；(ii)約8百萬港元用作償還債權證，預期於二零二三年十二月底前悉數動用；及(iii)約22.3百萬港元用作貨品採購按金、市場推廣及宣傳開支，以及本集團現有業務之企業發展。於二零二四年六月三十日，來自以上配售之所得款項淨額已悉數動用。EXCHANGE RISK EXPOSUREThe Group mainly operates in the PRC and most of its operating transactions are settled in

93、RMB.Most of its assets and liabilities are denominated in RMB.Although the Group may be exposed to foreign currency exchange risks,the Board does not expect future currency fluctuations to materially impact the Groups operations.The Group did not adopt formal hedging policies and no instruments have

94、 been applied for foreign currency hedging purposes during the Reporting Period.EMPLOYEESAs at 30 June 2024,the Group had 405 full time employees in total(30 June 2023:405).The Group remunerates its employees based on their performance,experience and prevailing industry practice.Competitive remunera

95、tion package is offered to retain elite employees.The package includes salaries,medical insurance,discretionary bonuses,other benefits as well as mandatory provident fund schemes for employees in Hong Kong and state-managed retirement benefit schemes for employees in the PRC.FINAL DIVIDENDThe Board

96、did not recommend the payment of a final dividend for the Reporting Period to the shareholders.USE OF NET PROCEEDS FROM SUBSCRIPTIONOn 20 November 2023(after trading hours),the Placing Agent and the Company entered into the Placing Agreement,pursuant to which the Placing Agent has conditionally agre

97、ed act as the placing agent of the Company for the purpose of procuring,on a best effort basis,the Placing of up to a maximum of 24,000,000 Placing Shares at the Placing Price of HK$1.80 per Placing Share to not less than six(6)Placees who and whose ultimate beneficial owners are Independent Third P

98、arties.The net proceeds(after deduction of placing commission and other expenses of the Placing)from the Placing are estimated to be approximately HK$42.3 million,representing a net placing price of approximately HK$1.76 per Placing Share.The net proceeds are intended to be applied as to(i)approxima

99、tely HK$12.0 million for staff expenses,professional fees and other headquarters expenses which are expected to be fully utilized by the end of December 2024,(ii)approximately HK$8 million for repayment of debentures which is expected to be fully utilized by the end of December 2023;and(iii)approxim

100、ately HK$22.3 million for purchase(s)/deposit(s)for goods,marketing and promotion expenses and corporate development for the Groups existing business.As at 30 June 2024,the net proceeds from the above placing have been fully utilized.MANAGEMENT DISCUSSIONAND ANALYSIS管理層討論與分析 13高地股份有限公司|二零二四年度報告Gaodi

101、 Holdings Limited|Annual Report 2024報告期間後事項於二零二四年七月二十四日，配售代理與本公司訂立配售協議，據此，配售代理有條件同意擔任本公司的配售代理，以盡最大努力促使按配售價每股配售股份1.40港元配售最多11,500,000股配售股份予不少於六(6)名承配人（彼等及其最終實益擁有人均為獨立第三方）。股份配售已於二零二四年八月十四日完成。已發行合共10,010,000股配售股份。股份配售之所得款項淨額（經扣除配售傭金及配售事項的其他開支後）約為13.6百萬港元。配售事項詳情於日期為二零二四年七月二十四日及二零二四年八月十四日之公佈中披露。EVENT AFT

102、ER THE REPORTING PERIODOn 24 July 2024,a placing agent and the Company entered into a placing agreement,pursuant to which the placing agent has conditionally agreed act as the placing agent of the Company for the purpose of procuring,on a best effort basis,the placing of up to a maximum of 11,500,00

103、0 placing shares at the placing price of HK$1.40 per placing share to not less than six(6)placees who and whose ultimate beneficial owners are independent third parties.The placing of shares was completed on 14 August 2024.A total of 10,010,000 placing shares were issued.The net proceeds(after deduc

104、tion of placing commission and other expenses of the placing)from the placing of shares are approximately HK$13.6 million.Details of the placing were disclosed in the announcements dated 24 July 2024 and 14 August 2024.14 REPORT OF THE DIRECTORS董事會報告 高地股份有限公司|二零二四年度報告Gaodi Holdings Limited|Annual Re

105、port 2024董事欣然提呈其報告連同本集團截至二零二四年六月三十日止年度之經審核綜合財務報表。主要業務本公司主要業務為投資控股，而本公司主要附屬公司的主要業務載於綜合財務報表附註33。分部資料截至二零二四年六月三十日止年度，本集團按業務分部劃分之營業額及業績分析載於綜合財務報表附註7。業績及分派本集團截至二零二四年六月三十日止年度之財務資料及本集團於二零二四年六月三十日之財務狀況載於第44至123頁的綜合財務報表。董事並未宣派或建議派付截至二零二四年六月三十日止年度之任何股息（截至二零二三年六月三十日止十八個月：無）。業務回顧本集團截至二零二四年六月三十日止年度之業務回顧、主要財務表現指標

106、及展望載於本末期報告第4至5頁之主席報告及第8至13頁之管理層討論及分析。環境政策促進可持續發展及有利保育的環境是我們的企業及社會責任，我們致力節省電力，並以可持續方式推動企業事務，將對環境的影響減至最少。我們採納一套緊急規劃、應變及控制程序，作為發生出乎意料環境污染意外時的抵禦措施，儘量減少對環境的衝擊及對我們業務的不利影響。股息政策本公司已採納股息政策（股息政策），據此，本公司可向本公司股東（股東）宣派及派發股息，使股東能分享本公司之溢利成果，同時使本公司能為未來增長保留充足儲備。The Directors is pleased to present its report together

107、 with the audited consolidated financial statements of the Group for the year ended 30 June 2024.PRINCIPAL ACTIVITIESThe principal activity of the Company is investment holding and those of the principal subsidiaries of the Company are set out in note 33 to the Consolidated Financial Statements.SEGM

108、ENT INFORMATIONAn analysis of the Groups turnover and results by business segments for the year ended 30 June 2024 is set out in note 7 to the Consolidated Financial Statements.RESULTS AND APPROPRIATIONSThe Groups financial information for the year ended 30 June 2024 and the financial position of th

109、e Group as at 30 June 2024 are set out in the consolidated financial statements from pages 44 to 123.No dividend has been declared or proposed by the Directors in respect of the year ended 30 June 2024(eighteen months ended 30 June 2023:Nil).BUSINESS REVIEWA review of the business,financial key perf

110、ormance indicators and outlook of the Group for the year ended 30 June 2024 are provided in the Chairmans Statement and Management Discussion and Analysis on pages 4 to 5 and pages 8 to 13 of this final report.ENVIRONMENTAL POLICYIt is our corporate and social responsibility in promoting a sustainab

111、le and environmental friendly environment.We strive to minimise our environmental impact by saving electricity and to build our Group in a sustainable way.We have adopted a set of emergency planning,response and control procedures as countermeasures for unexpected environmental pollution accidents t

112、o minimise our impact on the environment and the adverse effect on our business.DIVIDEND POLICYThe Company has adopted a dividend policy(“Dividend Policy”),pursuant to which the Company may declare and distribute dividends to the shareholders of the Company(the“Shareholders”)to allow Shareholders to

113、 share the Companys profits and for the Company to retain adequate reserves for future growth.REPORT OF THE DIRECTORS董事會報告 15高地股份有限公司|二零二四年度報告Gaodi Holdings Limited|Annual Report 2024董事會擁有絕對酌情權決定派付任何股息的建議，而任何末期股息之宣派均須經股東批準，方可作實。在建議派發任何股息時，董事會亦將考慮（其中包括）本集團財務業績，本集團整體財政狀況，本集團目前及未來營運，本集團之債務權益比率、資本回報率及相關

114、財務契諾水平，本集團流動資金狀況及資本需求，本公司附屬公司所帶來之盈餘及董事會認為屬適當之任何其他因素。本公司能否派付股息亦須受香港聯合交易所有限公司證券上市規則（上市規則）及開曼群島、香港所有相關適用法律、規則及規例以及本公司組織章程大綱及細則之規定規限。本公司並無制定任何預定分派比率。本集團過去的股息分派記錄不得用作釐定本公司日後可能宣派或派付的股息金額的參考或依據。董事會將持續檢討股息政策，並保留其唯一及絕對酌情權利隨時更新、修訂及或修改股息政策。股息政策絕不會構成本公司須派付任何特定金額的股息之具法律約束力承諾，及或令本公司有義務須隨時或不時宣派股息。遵守有關法律及法規於報告期間內，就

115、本公司所知，本集團並無重大違反或不遵守適用法律及法規，以致對本集團之業務及運營構成重大影響。The recommendation of the payment of any dividend is subject to the absolute discretion of the Board,and any declaration of final dividend will be subject to the approval of the Shareholders.In proposing any dividend payout,the Board shall also take into

116、 account,inter alia,the Groups financial results,the general financial condition of the Group,the Groups current and future operations,the level of the Groups debts to equity ratio,return on equity and the relevant financial covenants,liquidity position and capital requirement of the Group,surplus r

117、eceived from the Companys subsidiaries and any other factors that the Board deem appropriate.The Companys ability to pay dividends is also subject to the requirements of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited(the“Listing Rules”)and all relevant appli

118、cable laws,rules and regulations in the Cayman Islands,Hong Kong and the Memorandum and Articles of Association of the Company.The Company does not have any pre-determined distribution ratio.The Groups dividend distribution record in the past may not be used as a reference or basis to determine the

119、amount of dividends that may be declared or paid by the Company in the future.The Board will continually review the Dividend Policy and reserves the right in its sole and absolute discretion to update,amend and/or modify the Dividend Policy at any time,and the Dividend Policy shall in no way constit

120、ute a legally binding commitment by the Company that dividends will be paid in any particular amount and/or in no way obligate the Company to declare a dividend at any time or from time to time.COMPLIANCE WITH RELEVANT LAWS AND REGULATIONSDuring the Reporting Period,as far as the Company is aware,th

121、ere was no material breach of or non-compliance with applicable laws and regulations by our Group that has a significant impact on the business and operations of our Group.16 REPORT OF THE DIRECTORS董事會報告 高地股份有限公司|二零二四年度報告Gaodi Holdings Limited|Annual Report 2024主要風險及不確定性本集團面臨與本集團的業務有關的經營風險。隨著我們的業務增長

122、及擴展，有關我們業務的潛在風險亦隨之增加。為識別、評估及控制可能阻礙我們成功的風險，我們已實施一套風險管理系統，覆蓋我們業務營運各重大方面，包括財務安全、生產、物流、科技及合規。由於我們的風險管理為一個系統項目，我們各部門均負責識別及評估有關其營運範疇的風險。我們的審核委員會負責監督、評估及審查我們的風險管理政策及監察我們風險管理系統的表現。與持份者之關係僱員本公司深明僱員為我們的寶貴資產，因此本集團提供具競爭力的薪酬待遇，以吸引及激勵僱員。本集團定期檢討僱員的薪酬待遇，並會因應市場標準作出所需調整。供應商我們已跟多名供應商建立長久的合作關係，並每年進行公正嚴謹的評核?？蛻粑覀冎铝榭蛻籼峁﹥?/p>

123、質產品，並適時送貨。此外，我們亦與客戶保持聯繫，透過銷售團隊定期探訪客戶，緊貼客戶喜好的轉變。五年財務摘要本集團過往五個財政期間年度的業績、資產及負債摘要乃載於本末期報告第124頁。股本本公司股本的報告期間內變動詳情載於綜合財務報表附註28。PRINCIPAL RISK AND UNCERTAINTIESThe Group is exposed to the operational risk in relation to the business of the Group.With the growth and expansion of our operations,the potential

124、 risks to our business increase as well.In order to identify,assess and control the risks that may create impediments to our success,we have implemented a risk management system that covers each material aspect of our operations,including financial security,production,logistics,technology and compli

125、ance.As our risk management is a systematic project,each of our departments is responsible for identifying and evaluating the risks relating to its area of operations.Our Audit Committee is responsible for overseeing,assessing and reviewing our risk management policy and supervising the performance

126、of our risk management system.RELATIONSHIPS WITH STAKEHOLDERSEMPLOYEESThe Company recognizes that employees are our valuable assets.Thus our Group provide competitive remuneration package to attract and motivate the employees.Our Group regularly reviews the remuneration package of employees and make

127、 necessary adjustment to conform to the market standard.SUPPLIERSWe have developed long-standing relationships with a number of our suppliers and conducts a fair and strict appraisal on an annual basis.CUSTOMERSWe are committed to provide our customers with high quality products and deliver on a tim

128、ely basis.We also stay connected with our customers to keep abreast of the changing customer preference through regular visits of our sales teams.FIVE-YEAR FINANCIAL SUMMARYA summary of the results,assets and liabilities of the Group for the past five financial period/years is set out on page 124 of

129、 this final report.SHARE CAPITALDetails of movements in share capital of the Company during the Reporting Period are set out in note 28 to the Consolidated Financial Statements.REPORT OF THE DIRECTORS董事會報告 17高地股份有限公司|二零二四年度報告Gaodi Holdings Limited|Annual Report 2024儲備於截至二零二四年六月三十日止年度，本集團儲備的變動載於本末期報告

130、第46頁的綜合權益變動表?？晒┓峙蓛潇抖愣哪炅氯?，根據開曼群島公司法及本公司之組織章程細則（公司細則）之條文計算，本公司可供分派儲備為約人民幣48.2百萬元（於二零二三年六月三十日：約人民幣70.0百萬元）。主要客戶及供應商本集團最大及五大客戶的銷售額分別佔二零二四年總營業額約5.5%及21.9%。本集團最大及五大供應商的採購額分別佔二零二四年總採購額約14.7%及49.2%。就董事所深知，於截至二零二四年六月三十日止年度，董事、其聯繫人或擁有本公司已發行股本5%以上的任何股東，概無於本集團五大客戶或供應商擁有任何實益權益。附屬公司本公司主要附屬公司的詳情載於綜合財務報表附註33。

131、物業、廠房及設備物業、廠房及設備的報告期間內變動詳情載於綜合財務報表附註18。慈善捐款於報告期間內，本集團並無作出慈善捐款（二零二三年：無）。RESERVESMovements in the reserves of the Group during the year ended 30 June 2024 are set out in the consolidated statements of changes in equity on page 46 of this final report.DISTRIBUTABLE RESERVESAs at 30 June 2024,the Compan

132、ys reserves available for distribution,calculated in accordance with the provisions of the Companies Law of the Cayman Islands and the Companys articles of association(the“Articles of Association”),amounted to approximately RMB48.2 million(as at 30 June 2023:approximately RMB70.0 million).MAJOR CUST

133、OMERS AND SUPPLIERSSales to the Groups largest and five largest customers accounted for approximately 5.5%and 21.9%of the total turnover for the Year 2024 respectively.Purchases from the Groups largest and five largest suppliers accounted for approximately 14.7%and 49.2%of the total purchases for th

134、e Year 2024 respectively.To the best knowledge of the Directors,neither the Directors,their associates,nor any shareholders who owned more than 5%of the Companys issued share capital,had any beneficial interest in any of the Groups five largest customers or suppliers during the year ended 30 June 20

135、24.SUBSIDIARIESDetails of the principal subsidiaries of the Company are set out in note 33 to the Consolidated Financial Statements.PROPERTY,PLANT AND EQUIPMENTDetails of movements in property,plant and equipment during the Reporting Period are set out in note 18 to the Consolidated Financial Statem

136、ents.CHARITABLE CONTRIBUTIONSDuring the Reporting Period,the Group did not made charitable contributions(2023:Nil).18 REPORT OF THE DIRECTORS董事會報告 高地股份有限公司|二零二四年度報告Gaodi Holdings Limited|Annual Report 2024董事及董事服務合約於報告期間內及截至本報告日期在任的本公司董事為：執行董事李霆鋒先生（主席兼行政總裁）（於二零二三年八月十八日獲委任為執行 董事兼行政總裁及於二零二四年七月 二十九日獲委任為

137、主席）胡紅初先生（主席）（於二零二三年十二月 十九日獲調任為主席及於二零二四年七月 二十九日辭任）劉榮如先生（行政總裁）（於二零二三年八月十八日辭任）黃經勝先生（於二零二三年十二月十九日獲 委任）洪吉翔先生（於二零二四年六月二十一日獲 委任）陳純女士李艷鳳女士（於二零二三年七月二十一日辭 任）非執行董事劉傳義先生（聯席主席)（於二零二三年十二 月十九日辭任）陳富添先生（於二零二四年六月二十一日辭 任獨立非執行董事周潤璋先生（於二零二三年七月二十一日辭 任）岑政熹先生（於二零二三年七月二十一日獲 委任）林振青先生（於二零二三年十二月十九日辭 任）楊敏達先生（於二零二三年十二月十九日獲 委任）何建

138、先生概無董事（包括建議於股東週年大會上重選的董事）訂立本公司不可於一年內免付賠償（法定賠償除外）予以終止之服務協議。本公司已根據上市規則第3.13條規定自各獨立非執行董事接獲有關其獨立性的確認書，且彼等均被視為獨立人士。DIRECTORS AND DIRECTORS SERVICE AGREEMENTSThe Directors of the Company who hold office during the Reporting Period and up to the date of this report are:EXECUTIVE DIRECTORSMr.Li Tingfeng(Cha

139、irman and Chief Executive Officer)(appointed as executive director and chief executive officer on 18 August 2023 and appointed as chairman on 29 July 2024)Mr.Hu Hongchu(Chairman)(redesignated as Chairman on 19 December 2023 and resigned on 29 July 2024)Mr.Liu Rongru(Chief Executive Officer)(resigned

140、 on 18 August 2023)Mr.Huang Jingsheng(appointed on 19 December 2023)Mr.Hong Jixiang(appointed on 21 June 2024)Ms.Chen ChunMs.Li Yanfeng(resigned on 21 July 2023)NON-EXECUTIVE DIRECTORSMr.Liu Chuanyi(Joint-Chairman)(resigned on 19 December 2023)Mr.Chen Futian(resigned on 21 June 2024)INDEPENDENT NON-

141、EXECUTIVE DIRECTORSMr.Chow Yun Cheung(resigned on 21 July 2023)Mr.Shum Ching Hei(appointed on 21 July 2023)Mr.Lin Zhenqing(resigned on 19 December 2023)Mr.Yang Minda(appointed on 19 December 2023)Mr.He JianNone of the Directors,including those proposed for re-election at the AGM,has a service agreem

142、ent which is not terminable by the Company within one year without payment of compensation,other than statutory compensation.The Company has received confirmation on independence from each of the Independent Non-executive Directors pursuant to Rule 3.13 of the Listing Rules and all of them are consi

143、dered to be independent.REPORT OF THE DIRECTORS董事會報告 19高地股份有限公司|二零二四年度報告Gaodi Holdings Limited|Annual Report 2024董事薪酬董事薪酬乃根據董事的職責、責任及表現以及本集團的業績釐定。董事薪酬詳情載於綜合財務報表附註13。董事履歷本集團董事履歷詳情披露於本末期報告第6至7頁的 董事履歷 一節?？毓晒蓶|不競爭承諾本公司控股股東於二零一七年六月二十二日簽立以本公司為受益人的不競爭契據（不競爭契據）（載於招股章程 與控股股東的關係 一節）?？毓晒蓶|已確認遵守不競爭契據訂明的所有承諾。重大收購及

144、出售附屬公司及聯營公司於截至二零二四年六月三十日止年度，概無重大收購或出售本公司附屬公司或聯營公司。購股權計劃根據全體股東於二零一七年六月二十二日通過的決議案，本公司已有條件採納一項購股權計劃（購股權計劃），以肯定及嘉許曾經或可能對本集團作出貢獻的合資格參與人士。根據購股權計劃，董事會可酌情向董事（包括執行董事、非執行董事及獨立非執行董事）、本公司附屬公司之董事、本集團僱員及董事會全權酌情認為曾經或將對本集團作出貢獻的任何其他人士（包括專家顧問或顧問）授出購股權。董事獲授權授出購股權以認購本公司股份，及根據購股權計劃項下授出的購股權獲行使而配發、發行及處理股份，以及採取對實行購股權計劃及使之生

145、效而言為必需及或合宜的一切步驟。根據購股權計劃及任何其他本公司購股權計劃而可授予的購股權的最高股份數目，合共不得超過緊隨全球發售（定義見本公司日期為二零一八年六月三十日的招股章程）完成後已發行股份總數的10%，即100,000,000股股份，不包括任何根據購股權計劃（或本公司任何其他購股權計劃）的條款已失效的購股權而可發行的股份，惟獲本公司股東在股東大會上另行批準及或上市規則不時另有其他規定者除外。DIRECTORS REMUNERATIONThe remuneration of the Directors is determined with reference to Directors d

146、uties,responsibilities and performance and the results of the Group.Details of the remuneration of the Directors are set out in note 13 to the Consolidated Financial Statements.BIOGRAPHIES OF DIRECTORSThe biographical details of the Directors of the Group are disclosed in the section headed“Biograph

147、ical Details of the Directors”on pages 6 to 7 of this final report.NON-COMPETITION UNDERTAKING BY CONTROLLING SHAREHOLDERSThe controlling shareholders of the Company entered into a Deed of Non-Competition in favour of the Company dated 22 June 2017(“Deed of Non-Competition”)as set out in the section

148、 of“Relationship with our Controlling Shareholders”under the Prospectus.The controlling shareholders confirmed their compliance of all the undertakings provided under the Deed of Non-Competition.MATERIAL ACQUISITION AND DISPOSAL OF SUBSIDIARIES AND ASSOCIATED COMPANIESDuring the year ended 30 June 2

149、024,there was no material acquisition or disposal of subsidiaries or associated companies by the Company.SHARE OPTION SCHEMEPursuant to a resolution passed by all the shareholders on 22 June 2017,the Company has conditionally adopted the share option scheme(the“Share Option Scheme”)for the purpose o

150、f recognizing and acknowledging the contributions the eligible participants had or may have made to the Group.The Board may,at its discretion,grant options pursuant to the Share Option Scheme to the Directors(including Executive Directors,Non-executive Directors and Independent Non-executive Directo

151、rs),the directors of the Companys subsidiaries and employees of the Group and any other persons(including consultants or advisers)whom the Board considers,in its absolute discretion,have contributed or will contribute to the Group.The Directors were authorised to grant options to subscribe for share

152、s of the Company and to allot,issue and deal with the shares pursuant to the exercise of options granted under the Share Option Scheme and to take all such steps as may be necessary and/or desirable to implement and give effect to the Share Option Scheme.The maximum number of shares in respect of wh

153、ich options may be granted under the Share Option Scheme and under any other share option schemes of the Company must not in aggregate exceed 10%of the total number of shares in issue immediately following completion of the Global Offering(as defined in the Companys prospectus dated 30 June 2018),be

154、ing 100,000,000 shares,excluding any shares that may be issued under the options which have lapsed in accordance with the terms of the Share Option Scheme(or any other share option schemes of the Company),unless otherwise approved by the shareholders of the Company in general meeting and/or such oth

155、er requirements prescribed under the Listing Rules from time to time.20 REPORT OF THE DIRECTORS董事會報告 高地股份有限公司|二零二四年度報告Gaodi Holdings Limited|Annual Report 2024除非獲本公司股東於股東大會上另行批準，否則可基於購股權計劃及任何其他本公司購股權計劃（包括已行使及未行使購股權）向一名合資格參與者授出的股份數目，不得超過本公司在任何一個12個月期間的已發行股份的1%。任何向董事、本公司高級行政人員或主要股東（定義見上市規則）或其任何各自的聯繫人（

156、定義見上市規則）授予的購股權須獲我們的獨立非執行董事批準。除非本公司股東在股東大會上另行批準及或上市規則另有規定，否則根據購股權計劃及任何其他本公司購股權計劃（包括已行使及未行使購股權）可授予主要股東或任何獨立非執行董事或其各自的聯繫人的股份數目，不得超過任何一個12個月期間已發行股份的0.1%或合共價值超過5百萬港元。概無訂有購股權在行使前必須持有的最短期限，而購股權可行使的期間將由董事會全權酌情決定，然而，購股權於授出10年後便不得行使。有關特定購股權的股份認購價不得低於下列最高者：(a)於聯交所每日報價表所報的官方股份收市價；(b)緊接授出日期前五個營業日聯交所每日報價表所報的官方股份平

157、均收市價；及(c)股份面值。購股權計劃將自其獲採納日期起生效並將自該日起10年期間內一直有效。自購股權計劃生效及成為無條件日期起及直至本末期報告日期，概無根據購股權計劃授出購股權。董事及高級行政人員於股份、相關股份及債券的權益及淡倉於本末期報告日期，並無本公司董事及高級行政人員於本公司、其任何集團公司或其相聯法團（定義見證券及期貨條例第XV部）的任何股份、相關股份或債券中擁有根據證券及期貨條例第XV部第7及8分部已知會本公司及聯交所的任何其他權益或淡倉（包括董事及高級行政人員根據證券及期貨條例的有關條文被當作或視為擁有的權益或淡倉），或根據證券及期貨條列第352條規定須記入該條所指的登記冊內的

158、權益或淡倉，或根據標準守則的權益或淡倉。Unless otherwise approved by the shareholders of the Company in general meeting,the number of shares that may be granted to an eligible participant under the Share Option Scheme and any other share option schemes of the Company(including both exercised and outstanding options)sha

159、ll not exceed 1%of the shares in issue of the Company within any 12-month period.Any grant of options to a Director,chief executive or substantial shareholder(as defined in the Listing Rules)of the Company or any of their respective associates(as defined in the Listing Rules)is required to be approv

160、ed by our Independent Non-executive Directors.Unless otherwise approved by the shareholders of the Company in general meeting and/or such other requirements prescribed under the Listing Rules,the number of shares that may be granted to a substantial shareholder or any Independent Non-executive Direc

161、tor or their respective associates under the Share Option Scheme and any other share option schemes of the Company(including both exercised and outstanding options)shall not exceed 0.1%of the shares in issue,having an aggregate value in excess of HK$5 million,within any 12-month period.There is no m

162、inimum period for which an option must be held before it can be exercised,and the period during which an option may be exercised will be determined by the Board in its absolute discretion,however,no options shall be exercised 10 years after they have been ranted.The subscription price of a share in

163、respect of a particular option shall be not less than the highest of(a)the official closing price of the shares on the daily quotation sheet of the Stock Exchange;(b)the average official closing price of the shares on the daily quotation sheet of the Stock Exchange for the five business days immedia

164、tely preceding the date of grant;and(c)the nominal value of a share.The Share Option Scheme shall take effect from the date it is adopted and shall remain effective within a period of 10 years from that date.From the date that the Share Option Scheme became effective and unconditional and up to the

165、date of this final report,no share options were granted under the Share Option Scheme.DIRECTORS AND CHIEF EXECUTIVES INTERESTS AND SHORT POSITIONS IN SHARES,UNDERLYING SHARES AND DEBENTURESAs at the date of this final report,none of the Directors and chief executives of the Company had any other int

166、erests or short positions in any shares,underlying shares or debentures of the Company,any of its Group members or its associated corporations(within the meaning of Part XV of the SFO)which were notified to the Company and the Stock Exchange pursuant to Divisions 7 and 8 of Part XV of the SFO(includ

167、ing interests or short positions which they were taken or deemed to have under such provisions of the SFO),or which were required,pursuant to Section 352 of the SFO,to be entered in the register referred to therein,or which were required,pursuant to the Model Code.REPORT OF THE DIRECTORS董事會報告 21高地股份

168、有限公司|二零二四年度報告Gaodi Holdings Limited|Annual Report 2024主要股東於本公司股份及相關股份的權益及淡倉於本末期報告日期，下列人士實體（不包括本公司董事或高級行政人員）擁有或被視為於本公司、其集團公司及或相聯法團股份或相關股份中擁有須根據證券及期貨條例第XV部第2及3分部條文予以披露的權益或淡倉，或根據證券及期貨條例第336條記錄於本公司須予備存的登記冊內的權益或淡倉：獲準許的彌償條文本公司組織章程細則規定，應就董事在其各自任期或信託內執行其職務或預期之職務時所作出、同意或遺漏的行動而可能招致或承受的一切訴訟、成本、費用、損失、賠償及開支自本公司資

169、產及溢利中向董事提供補償。本公司已投購及維持董事責任保險，其為董事及本集團附屬公司董事提供適當保護。董事及控股股東於重要合約之權益本公司或其附屬公司概無訂立控股股東或董事於其中直接或間接擁有重大權益且於報告期間末或報告期間內任何時間仍然有效的重要合約。關連交易及持續關連交易於報告期間內，本集團與其關連人士（定義見上市規則）之間概無訂立須受上市規則之申報、公佈及獨立股東批準之規定所規限之關連交易及持續關連交易。綜合財務報表附註34所披露之重大關聯方交易為獲豁免遵守上市規則之申報、公佈及獨立股東批準之規定之關連交易。INTERESTS AND SHORT POSITIONS OF THE SUBS

170、TANTIAL SHAREHOLDERS IN SHARES AND UNDERLYING SHARES OF THE COMPANYAs at the date of this final report,the following persons/entities(other than the Directors or chief executive of the Company)had,or were deemed to have,interests or short positions in the shares or underlying shares of the Company,i

171、ts Group members and/or associated corporations which would fall to be disclosed to the Company under the provisions of Divisions 2 and 3 of Part XV of the SFO,or which were recorded in the register required to be kept by the Company under Section 336 of the SFO:Name of ShareholderCapacity/Nature of

172、 interestNumber of sharesApproximate percentage of shareholding Interest(%)股東姓名身份權益性質股份數目持股概約百分比(%)Foton Holdings LimitedBeneficial Owner27,480,00019.08%福田股份有限公司實益擁有人.PERMITTED INDEMNITY PROVISIONThe articles of associations of the Company provides that the Directors shall be indemnified out of the

173、assets and profits of the Company from and against all actions,costs,charges,losses,damages and expenses which they or any of them shall or may incur or sustain by or by reason of any act done,concurred in or omitted in or about the execution of their duty,or supposed duty,in their respective office

174、s or trusts.The Company has taken out and maintained directors liability insurance which provides appropriate cover for the Directors and directors of the subsidiaries of the Group.DIRECTORS AND CONTROLLING SHAREHOLDERS INTERESTS IN CONTRACTS OF SIGNIFICANCENo contract of significance to which the C

175、ompany or its subsidiaries was a party and in which the controlling Shareholder or a Director had a material interest,whether directly or indirectly,subsisted at the end of the Reporting Period or at any time during the Reporting Period.CONNECTED TRANSACTIONS AND CONTINUING CONNECTED TRANSACTIONSDur

176、ing the Reporting Period,there were no connected transactions and continuing connected transactions between the Group and its connected persons(as defined under the Listing Rules)which are subject to the reporting,announcement and the independent shareholders approval requirement under the Listing R

177、ules.The material related party transactions as disclosed in note 34 to the Consolidated Financial Statements are connected transactions exempt from reporting,announcement and independent shareholders approval requirements under the Listing Rules.22 REPORT OF THE DIRECTORS董事會報告 高地股份有限公司|二零二四年度報告Gaod

178、i Holdings Limited|Annual Report 2024競爭及利益衝突概無董事或彼等各自之任何聯繫人從事與本集團業務構成或可能構成競爭的任何業務，亦無與本集團存在任何其他利益衝突。購買、出售及贖回上市證券於報告期間內及直至本報告日期，本公司並無贖回任何上市證券，且本公司或其任何附屬公司概無購買或出售任何本公司上市證券。管理合約於報告期間內，概無訂立或存在涉及本公司全部或任何重大部分業務的管理及行政合約。優先購買權本公司的公司細則或開曼群島法律下並無有關優先購買權的條文。足夠公眾持股量根據本公司可獲得的公開資料，並就董事所知，於本末期報告日期，本公司維持上市規則規定的公眾持股量

179、。企業管治本公司承諾採納企業管治常規。本公司的企業管治常規載於第23至37頁之企業管治報告。核數師截至二零二三年六月三十日止十八個月期間及截至二零二四年六月三十日止年度之綜合財務報表已由長青（香港）會計師事務所有限公司審核，其將於股東週年大會上退任，惟其符合資格並願意膺選連任。於股東週年大會上將提呈一項決議案以續聘長青（香港）會計師事務所有限公司，並授權董事釐定其酬金。代表董事會 執行董事 李霆鋒 中國廈門市，二零二四年九月三十日COMPETITION AND CONFLICT OF INTERESTSNone of the Directors or any of their respecti

180、ve associates,has engaged in any business that competes or may compete with the business of the Group,or has any other conflict of interest with the Group.PURCHASES,SALE AND REDEMPTION OF LISTED SECURITIESThe Company did not redeem any of its listed securities,and neither did the Company nor any of

181、its subsidiaries purchase or sell any of the Companys listed securities during the Reporting Period and up to the date of this report.MANAGEMENT CONTRACTSNo contracts concerning the management and administration of the whole or any substantial part of the business of the Company were entered into or

182、 existed during the Reporting Period.PRE-EMPTIVE RIGHTSThere is no provision for pre-emptive rights under the Companys Articles of Association or the laws of the Cayman Islands.SUFFICIENCY OF PUBLIC FLOATBased on information that is publicly available to the Company and within the knowledge of the D

183、irectors,the Company has maintained the prescribed public float under the Listing Rules as at the date of this final report.CORPORATE GOVERNANCEThe Company is committed to adopt corporate governance practice.The Companys corporate governance practices are set out in the Corporate Governance Report o

184、n pages 23 to 37.AUDITORSThe consolidated financial statements for the eighteen months period ended 30 June 2023 and the year ended 30 June 2024 have been audited by McMillan Woods(Hong Kong)CPA Limited which retires,and being eligible,offer itself for re-appointment at the AGM.A resolution to re-ap

185、point McMillan Woods(Hong Kong)CPA Limited and to authorize the Directors to fix its remuneration will be proposed at the AGM.On behalf of the Board Li Tingfeng Executive Director Xiamen,the PRC,30 September 202423高地股份有限公司|二零二四年度報告Gaodi Holdings Limited|Annual Report 2024董事會致力維持高水準的企業管治常規及商業道德並深信其是維

186、持及提升投資者信心以及為股東帶來最高回報的根本。董事會不時檢討其企業管治常規，以符合股東不斷提高的期望及遵守日益嚴格的監管規定，並履行其達致卓越企業管治的承諾。本公司已採納上市規則附錄C1所載企業管治守則（企業管治守則）所載的守則條文，作為其自身企業管治守則。董事會認為，直至本報告日期，本公司一直遵守企業管治守則。企業管治守則之守則條文F.2.2規定，董事會主席應邀請審核委員會、薪酬委員會、提名委員會及任何其他委員會（視何者適用而定）的主席出席股東週年大會。若有關委員會主席未能出席，其應邀請委員會另一名委員（或如該名委員未能出席，則其適當委任的代表）出席。本公司之審核委員會、薪酬委員會及提名委

187、員會之主席及成員因其他公務而未能出席本公司於二零二三年十二月十五日舉行之股東週年大會。企業管治守則之守則條文C.2.7規定，董事會主席須至少每年與獨立非執行董事舉行會議，其他董事不可與會。由於主席李霆鋒先生兼任執行董事，該守則條文並不適用，因此本公司偏離此守則條文。此外，董事會主席認為，於董事會會議上，獨立非執行董事可更直接及有效地向所有執行董事表明彼等之觀點，所以董事會認為偏離此守則條文對董事會的運作並不構成重大影響。本公司將繼續加強適用於其業務運作及發展之企業管治常規並不時檢討其企業管治常規，以確保其遵守日益嚴格之監管要求，及滿足股東及其他利益相關者不斷提高的期望。根據企業管治守則之守則條

188、文C.5.1，董事會應定期舉行會議，及應每年最少舉行四次董事會會議，大約每季一次。於截至二零二三年六月三十日止年度，董事會舉行了三次董事會會議。有關本集團業務活動及營運之重大事項已在三次董事會會議上作出妥善報告、討論與議決，或由董事會透過書面決議案處理，以便迅速作出商業決策。CORPORATE GOVERNANCE REPORT企業管治報告The Board is committed to maintaining a good standard of corporate governance practices and business ethics in the firm belief th

189、at they are essential for maintaining and promoting investors confidence and maximizing shareholders returns.The Board reviews its corporate governance practices from time to time in order to meet the rising expectations of shareholders and comply with the increasingly stringent regulatory requireme

190、nts,and to fulfill its commitment to excellence in corporate governance.The Company has adopted the code provisions in the Corporate Governance Code(the“CG Code”)as set out in Appendix C1 to the Listing Rules as its own code of corporate governance.The Board considers that up to the date of this rep

191、ort,the Company has complied with the CG Code.Code provision F.2.2 of the CG Code requires the chairman of the board to invite the chairmen of the Audit Committee,Remuneration Committee,Nomination Committee and any other committees(as appropriate)to attend the annual general meeting.In their absence

192、,he should invite another member of the Committee or failing this his duly appointed delegate,to attend.Due to other business commitments,the chairmen and members of the Audit Committee,Remuneration Committee and Nomination Committee of the Company could not attend the annual general meeting of the

193、Company held in 15 December 2023.Code provision C.2.7 of the CG Code requires that the chairman of the Board shall at least annually hold meetings with Independent Non-executive Directors without the presence of other Directors.As Mr.Li Tingfeng serves as the Chairman and Executive Director concurre

194、ntly,the code provision does not apply and the Company deviates from such code provision.In addition,the Chairman of the Board is of the view that,the Independent Non-executive Directors can express their opinions to all Executive Directors more directly and effectively at the Board meetings,hence t

195、he Board is of the view that the deviation from the code provision does not have material impact on the operation of the Board.The Company will continue to enhance its corporate governance practices appropriate to the conduct and growth of its business and to review its corporate governance practice

196、s from time to time to ensure they comply with the evolving regulatory requirements and to meet the rising expectations of the shareholders and other stakeholders.Under the code provision C.5.1 of the CG Code,the Board should meet regularly and the board meetings should be held at least four times a

197、 year at approximately quarterly intervals.During the year ended 30 June 2023,the Board held three Board meetings.The significant matters concerning the business activities and operation of the Group had been either duly reported,discussed and resolved at the three Board meetings or dealt with by th

198、e Board by way of written resolutions for expeditious commercial decisions making purposes.24CORPORATE GOVERNANCE REPORT企業管治報告高地股份有限公司|二零二四年度報告Gaodi Holdings Limited|Annual Report 2024守則之守則條文C.2.1條訂明主席及行政總裁的角色應予區分。本公司的主席及行政總裁為李霆鋒先生。儘管如此，董事會認為，此架構將不會損害董事會的權力及權限平衡。董事會目前包括四名執行董事及三名獨立非執行董事。董事會有如此百分比的獨立非

199、執行董事可確保彼等的意見舉足輕重並反映董事會的獨立性。李霆鋒先生負責本集團的整體戰略規劃和管理。彼在本集團的發展中擔當重要角色。李霆鋒先生在餐飲行業及策略投資擁有豐富經驗。目前，董事會相信，讓李霆鋒先生出任主席兼行政總裁會有助促進董事會決策，對本集團的業務管理和發展有利。企業管治常規(A)董事會職責及授權董事會負責領導及監控本公司以及監管本集團的業務、戰略決策、內部監控、風險管理系統及監察高級管理層的表現。管理層在主席的領導下專責處理本集團的日常營運工作。董事有責任以本公司利益為前提按客觀標準行事。董事會已轉授多項職責予董事委員會（包括審核委員會、薪酬委員會及提名委員會）。有關該等委員會的進一

200、步詳情載於本企業管治報告下文B節。董事會組成截至二零二四年六月三十日止年度及截至本報告日期止之董事會成員如下：執行董事李霆鋒先生（主席及行政總裁）（於二零二三年八月十八日獲委任 為執行董事及行政總裁及於二零 二四年七月二十九日獲委任為主 席）胡紅初先生（主席）（於二零二三年 十二月十九日調任為主席及於二零 二四年七月二十九日辭任）劉榮如先生（行政總裁）（於二零二三年八月十八日辭任）黃經勝先生（於二零二三年十二月 十九日獲委任）洪吉翔先生（於二零二四年六月 二十一日獲委任）陳純女士李艷鳳女士（於二零二三年七月 二十一日辭任）Code provision C.2.1 of the Code,whi

201、ch stipulates that the roles of chairman and chief executive officer should be separated.The chairman and the chief executive officer of the Company is Mr.Li Tingfeng.Nevertheless,the Board considers that this structure will not impair the balance of power and the authority of the Board.The Board cu

202、rrently comprises four executive Directors and three independent non-executive Directors.Such percentage of independent non-executive Directors on the Board can ensure their views carry significant weight and reflect the independence of the Board.Mr.Li Tingfeng is responsible for the overall strateg

203、ic planning and management of the Group.He has played an important role in the Groups development.Mr.Li Tingfeng has extensive experience in the food and beverage industry and strategic investment.At present,the Board believes that it is beneficial to the management and development of the Groups bus

204、inesses for Mr.Li Tingfeng to be both the chairman and chief executive officer as it helps to facilitate the Boards decision-making.CORPORATE GOVERNANCE PRACTICES(A)BOARD OF DIRECTORSResponsibilities and DelegationThe Board is responsible for the leadership and control ofthe Company,overseeing the G

205、roups businesses,strategicdecisions,internal control,risk management systems andmonitoring the performance of the senior management.Themanagement is responsible for the daily operations of theGroup under the leadership of the Chairman.The Directorshave the responsibility to act objectively in the in

206、terests ofthe Company.The Board has delegated various responsibilities to theBoard committees including the Audit Committee,theRemuneration Committee and the Nomination Committee.Further details of these Committees are set out below insection B of this corporate governance report.Board CompositionTh

207、e Board members during the year ended 30 June 2024and up to the date of this report are as follows:EXECUTIVE DIRECTORSMr.Li Tingfeng(Chairman and Chief Executive Officer)(appointed as executive director and chief executive officer on 18 August 2023 and appointed as chairman on 29 July 2024)Mr.Hu Hon

208、gchu(Chairman)(redesignated as Chairman on 19 December 2023 and resigned on 29 July 2024)Mr.Liu Rongru(Chief Executive Officer)(resigned on 18 August 2023)Mr.Huang Jingsheng(appointed on 19 December 2023)Mr.Hong Jixiang(appointed on 21 June 2024)Ms.Chen ChunMs.Li Yanfeng(resigned on 21 July 2023)COR

209、PORATE GOVERNANCE REPORT企業管治報告 25高地股份有限公司|二零二四年度報告Gaodi Holdings Limited|Annual Report 2024非執行董事劉傳義先生（聯席主席）（於二零二三 年十二月十九日辭任）陳富添先生（於二零二四年六月 二十一日辭任）獨立非執行董事周潤璋先生（於二零二三年七月 二十一日辭任）岑政熹先生（於二零二三年七月 二十一日獲委任）林振青先生（於二零二三年十二月 十九日辭任）楊敏達先生（於二零二三年十二月 十九日獲委任）何建先生董事會目前由來自不同業務及專業領域的三名執行董事、兩名非執行董事及三名獨立非執行董事組成。各董事的履歷載於

210、本末期報告董事履歷部分。董事（包括獨立非執行董事）為董事會帶來了廣泛而寶貴的業務經驗、知識及專業精神，以便董事會有效率及有效益地發揮職能。董事會成員多元化政策董事會已採納董事會成員多元化政策（政策），而政策載列本公司取得持續平衡發展及本公司提升表現素質的方針。政策旨在於董事會上實現成員多元化?？捎嬃磕繕思罢邕x於制定董事會成員之組合時，本公司將從多方角度考慮，包括建議候選人的種族、性別、年齡、文化及教育背景、行業經驗、技術及專業經驗、知識、技能、服務任期、個人誠信和時間投入。本公司亦將不時計及與其本身業務模式及具體需要有關的因素。最終決定將基於候選人將為董事會帶來的價值及所作的貢獻。本公司將以客

211、觀標準考慮人選並充分顧及董事會成員多元化的裨益。NON-EXECUTIVE DIRECTORSMr.Liu Chuanyi(Joint-Chairman)(resigned on 19 December 2023)Mr.Chen Futian(resigned on 21 June 2024)INDEPENDENT NON-EXECUTIVE DIRECTORSMr.Chow Yun Cheung(resigned on 21 July 2023)Mr.Shum Ching Hei(appointed on 21 July 2023)Mr.Lin Zhenqing(resigned on 19

212、 December 2023)Mr.Yang Minda(appointed on 19 December 2023)Mr.He JianThe Board currently comprises three Executive Directors,two Non-Executive Directors and three Independent Non-executive Directors from different business and professional fields.The profiles of each Director are set out in the“Biog

213、raphical Details of Directors”section in this final report.The Directors,including the Independent Non-executive Directors,have brought a wide spectrum of valuable business experience,knowledge and professionalism to the Board for its efficient and effective delivery of the Board functions.Board Div

214、ersity PolicyThe Board has adopted a board diversity policy(the“Policy”)which sets out the approach to achieve a sustainable and balanced development of the Company and to enhance the quality of performance of the Company.The Policy aims at achieving diversity on the Board.Measurable Objectives and

215、SelectionIn designing the Boards composition,a number of perspectives which include race,gender,age,cultural and educational background,industry experience,technical and professional experience,knowledge,skills,length of service,personal integrity and time commitments of the proposed candidates will

216、 be taken into consideration.The Company will also take into account factors relating to its own business model and specific needs from time to time.The ultimate decision is based on merit and contribution that the candidates will bring to the Board.Candidates will be considered against objective cr

217、iteria,having due regard for the benefits of diversity on the Board.26 CORPORATE GOVERNANCE REPORT企業管治報告 高地股份有限公司|二零二四年度報告Gaodi Holdings Limited|Annual Report 2024董事會目前僅包括一名女性成員。董事會將在選擇合適的董事會成員候選人並提出建議時，把握機會提高女性成員的比例。董事會將確保經參照持份者的期望以及國際及當地推薦的最佳做法後取得適當的多元性別平衡，從而實現帶領董事會走向性別均等的最終目標。董事會亦期望於本集團核心市場擁有直接經驗

218、並來自不同種族背景的董事佔有適當的比例，從而反映本集團的策略。實施及監控提名委員會將監控董事會成員多元化政策的實施情況及每年向董事會匯報。本公司已接獲各獨立非執行董事根據上市規則第3.13條就其獨立性而發出的年度確認書。本公司認為全體獨立非執行董事均為獨立人士。董事會會議董事會每年最少定期舉行四次會議，大約每季舉行一次，以討論整體策略以及本集團的營運及財務表現。需要時亦會召開臨時會議。有關董事會會議需要多數董事積極參與（不論親身或透過其他電子通訊方式）。全體董事將於會前獲發董事會會議議程及相關文件以及所有適當、完備及可靠資料。所有董事將獲提供充足資源以便履行各自職責，且在合理要求時，董事可在適

219、當情況下尋求獨立專業意見，費用由本公司承擔。所有董事均有機會在董事會會議議程中加插事項。本公司的公司秘書負責保存董事會會議及董事委員會會議記錄。所有會議記錄均可供任何董事經發出合理通知後於合理時間公開查閱。The Board currently consists of one female member.The Board will take opportunity to increase the proportion of female members over time when selecting and making recommendation on suitable candida

220、tes for Board appointments.The Board would ensure that appropriate balance of gender diversity is achieved with reference to stakeholders expectation and international and local recommended best practices,with the ultimate goal of bringing the Board to gender parity.The Board also aspires to having

221、an appropriate proportion of Directors who have direct experience in the Groups core markets,with different ethnic backgrounds,and reflecting the Groups strategy.Implementation and Monitoring The Nomination Committee will monitor the implementation of the board diversity policy and report to the Boa

222、rd annually.The Company has received annual confirmation from each of the Independent Non-executive Directors of his/her independence pursuant to Rule 3.13 of the Listing Rules.The Company considers all of the Independent Non-executive Directors are independent.Board MeetingsThe Board is scheduled t

223、o meet regularly at least four times a year at approximately quarterly intervals,to discuss the overall strategy as well as the operation and financial performance of the Group.Ad-hoc meetings will also be convened when necessary.Such Board meetings involve the active participation,either in person

224、or through other electronic means of communication,of a majority of Directors.Agenda and Board papers together with all appropriate,complete and reliable information will be provided to all the Directors before meetings.All the Directors will be provided with sufficient resources to discharge their

225、duties,and,upon reasonable request,the Directors will be able to seek independent professional advice in appropriate circumstances,at the Companys expenses.All Directors will have the opportunity to include matters in the agenda for board meetings.The Company Secretary of the Company is responsible

226、to keep the minutes of board meetings and meetings of Board committees.All minutes are open for inspection by any Director at reasonable time on reasonable notice.CORPORATE GOVERNANCE REPORT企業管治報告 27高地股份有限公司|二零二四年度報告Gaodi Holdings Limited|Annual Report 2024於截至二零二四年六月三十日止年度及直至本末期報告日期，董事會舉行五次會議，董事於該會議

227、上批準本集團截至二零二三年十二月三十一日止六個月的中期業績及截至二零二三年六月三十日止十八個月的末期業績和本集團截至二零二四年六月三十日止年度的年度業績並審閱業績公佈以及中期及末期報告，並決議了其他業務事項。本公司的公司細則載有條文規定，在批準董事或其任何聯繫人士有重大權益之交易之會議上，有關董事須放棄投票及不得計入大會法定人數。根據董事會現有做法，牽涉主要股東或董事之利益衝突之任何重大交易將由董事會在正式召開之董事會會議上考慮及處理。委任、重選及罷免董事各執行董事及非執行董事已與本公司訂立服務合約，初步固定期限自其獲委任之日起計為期三年，其後將自動續新，直至於初步期限結束時或其後任何時間其中

228、一方向另一方發出不少於三個月的書面通知予以終止為止，惟所有委任須根據本公司的公司細則輪值退任及重選連任。各獨立非執行董事已於其獲委任之日與本公司訂立委任書，初步期限自委任書日期起計，其後將會續期（最長期限不超過三年），除非任何一方發出至少一個月的書面通知予以終止，惟所有委任須根據本公司的公司細則輪值退任及重選連任。所有董事均須至少每三年輪值退任一次。提名委員會已覆核執行董事、非執行董事及獨立非執行董事之重新委任委任，並向董事會作出建議以作決定。During the year ended 30 June 2024 and up to the date of this final report,f

229、ive Board meetings have been held,at which the Directors approved the interim results of the Group for the six months ended 31 December 2023 and the final results for the eighteen months ended 30 June 2023 and the annual results of the Group for the year ended 30 June 2024,reviewed the results annou

230、ncements and interim and final reports and resolved other business matters.The Companys Articles of Association contain provisions requiring Directors to abstain from voting and not to be counted in the quorum at meetings for approving transactions in which such Directors or any of their associates

231、have a material interest.According to current Board practices,any material transaction,which involves a conflict of interests for a substantial shareholder or a Director,will be considered and dealt with by the Board at a duly convened Board meeting.Appointments,Re-election and Removal of DirectorsE

232、ach of the Executive Directors and Non-executive Director has entered into a service contract with the Company for an initial fixed term of three years commencing from their respective appointment dates renewable automatically until terminated by not less than three months notice in writing served b

233、y either party on the other expiring at the end of the initial term or any time thereafter.All of their appointments are subject to retirement by rotation and re-election in accordance with the Articles of Association of the Company.Each of the Independent Non-executive Directors has entered into a

234、letter of appointment with our Company on their respective appointment dates.Each letter of appointment is for an initial term commencing on the date of the letter of appointment and shall continue thereafter subject to a maximum of three years unless terminated by either party giving at least one m

235、onths notice in writing.All of their appointments are subject to retirement by rotation and re-election in accordance with the Articles of Association of the Company.All Directors shall be subject to retirement by rotation at least once every three years.The Nomination Committee has reviewed the rea

236、ppointments/appointments of both the Executive Directors,the Non-executive Director and the Independent Non-executive Directors and recommended to the Board for decision.28 CORPORATE GOVERNANCE REPORT企業管治報告 高地股份有限公司|二零二四年度報告Gaodi Holdings Limited|Annual Report 2024董事的培訓指引及持續發展董事熟知作為本公司董事之責任以及本公司的運作、

237、業務活動及發展。每名新獲委任的董事在首次接受委任時均會獲本公司發出一份正式、全面及特為彼而設的指引，以確保其對本公司的業務及營運有適當的認識，並且對上市規則及相關法定要求規定董事之責任及義務有充分的認識。董事持續獲得有關法定及監管制度及營商環境之最新資料，以助彼等履行職責。進行證券交易的標準守則本公司自二零一七年六月二十二日起已採納上市規則附錄10所載上市公司董事進行證券交易的標準守則（標準守則）。經具體查詢後，所有董事均確認彼等於本年度已遵守標準守則。(B)董事會下轄委員會提名委員會本公司已於二零一七年六月二十二日成立提名委員會，並根據守則條文第B.3.2段條制定書面職權範圍。書面職權範圍可

238、於本公司及聯交所網站查閱。提名委員會的主要職責為定期檢討董事會架構、人數及組成；物色具備合適資格可擔任董事的人士；評核獨立非執行董事的獨立性；就委任或重新委任董事等相關事宜向董事會提出推薦建議。提名委員會包括三名獨立非執行董事，即楊敏達先生、岑政熹先生以及何建先生（主席）。提名政策本公司已為提名委員會採納提名政策，以考慮及推薦股東於股東大會上選舉董事或委任填補臨時空缺的董事。Training Induction and Continuing Development of DirectorsDirectors keep abreast of responsibilities as a Direc

239、tor of the Company and of the conduct,business activities and development of the Company.Each newly appointed Director will receive formal,comprehensive and tailored induction on the first occasion of his/her appointment to ensure appropriate understanding of the business and operations of the Compa

240、ny and full awareness of directors responsibilities and obligations under the Listing Rules and relevant statutory requirements.Directors are continually updated on developments in the statutory and regulatory regime and the business environment to facilitate the discharge of their responsibilities.

241、Model Code for Securities TransactionsThe Company has since 22 June 2017 adopted the Model Code for Securities Transactions by Directors of Listed Companies(the“Model Code”)as set out in Appendix 10 to the Listing Rules.Following a specific enquiry,all the Directors confirmed that they have complied

242、 with the Model Code during the year.(B)BOARD COMMITTEESNomination CommitteeThe Company established the Nomination Committee on 22 June 2017 with written terms of reference in compliance with paragraph B.3.2 of the Code Provisions.Its terms of reference are available on the websites of the Company a

243、nd the Stock Exchange.The primary duties of the Nomination Committee are to review the structure,size and composition of the Board on regular basis;to identify individuals suitably qualified to become Board members;to assess the independence of Independent Non-executive Directors;and to make recomme

244、ndations to the Board on relevant matters relating to the appointment or re-appointment of Directors.The Nomination Committee comprises three Independent Non-executive Directors,namely Mr.Yang Minda,Mr.Shum Ching Hei and Mr.He Jian(Chairman).Nomination PolicyThe Company has adopted a Nomination Poli

245、cy for the Nomination Committee to consider and make recommendations to Shareholders for election as Directors at general meetings or appoint as Directors to fill casual vacancies.CORPORATE GOVERNANCE REPORT企業管治報告 29高地股份有限公司|二零二四年度報告Gaodi Holdings Limited|Annual Report 2024甄選標準於評估建議候選人適合與否時，提名委員會將使用

246、下列因素作為參考：(1)誠信聲譽；(2)本集團所從事業務方面的成就及經驗；(3)可投入的時間及對相關利益的承擔；(4)各方面的多元化，包括但不限於種族、性別、年齡（18歲或以上）、教育背景、專業經驗、技能及服務任期；(5)資歷，包括與本公司業務及企業策略相關的專業資格、技能、知識及經驗；(6)現有董事人數以及其他可能需要候選人關注的承擔；(7)董事會根據上市規則有關委任獨立非執行董事的規定，以及候選人參照上市規則第3.08條、3.09條及3.13條所載的獨立指引是否被視為獨立；(8)本公司的董事會成員多元化政策以及提名委員會為實現董事會成員多元化而採納的任何可計量目標；及(9)其他適用於本公司

247、業務的有關因素。Selection CriteriaThe factors listed below would be used as reference by the Nomination Committee in assessing the suitability of a proposed candidate:(1)reputation for integrity;(2)accomplishment and experience in the business in which the Group is engaged in;(3)commitment in respect of ava

248、ilable time and relevant interest;(4)diversity in all its aspects,including but not limited to race,gender,age(18 years or above),educational background,professional experience,skills and length of service;(5)qualifications which include professional qualifications,skills,knowledge and experience th

249、at are relevant to the Companys business and corporate strategy;(6)the number of existing directorships and other commitments that may demand the attention of the candidate;(7)requirement for the Board to have Independent Non-executive Directors in accordance with the Listing Rules and whether the c

250、andidates would be considered independent with reference to the independence guidelines set out in Rules 3.08,3.09 and 3.13 of the Listing Rules;(8)Board Diversity Policy of the Company and any measurable objectives adopted by the Nomination Committee for achieving diversity on the Board;and(9)such

251、other perspectives appropriate to the Companys business.30 CORPORATE GOVERNANCE REPORT企業管治報告 高地股份有限公司|二零二四年度報告Gaodi Holdings Limited|Annual Report 2024董事提名程序根據本公司的公司細則及上市規則的規定，如董事會認為有需要新增一名董事或一名高級管理人員，則會遵循下列程序：(1)提名委員會及或董事會將根據甄選標準所載標準確定潛在候選人，並可能需要外部機構及或顧問的協助(2)本公司提名委員會及或公司秘書隨後將向董事會提供候選人的履歷詳情、候選人與本公司

252、及或董事之間關係詳情、所擔任董事職務、技能與經驗、需要大量時間投入的其他職位以及上市規則、開曼群島公司法及其他監管規定就董事會任命候選人要求的其他詳情(3)提名委員會隨後將就建議候選人以及任職的條款及條件向董事會提出建議；(4)提名委員會應確保建議候選人將增強董事會成員的多元化，尤其需關注性別平衡；(5)如任命一名獨立非執行董事，提名委員會及或董事會應獲取與擬任董事有關的所有資料，使董事會可根據上市規則第3.08條、3.09條及3.13條（經聯交所可能不時作出修訂）所載因素充分評估董事的獨立性；及(6)董事會隨後將根據提名委員會之推薦建議審議及決定任命。Director Nomination

253、ProcedureSubject to the provisions in the Articles of Association of the Company and the Listing Rules,if the Board recognises the need for an additional Director or a member of senior management,the following procedure will be followed:(1)The Nomination Committee and/or Board will identify potentia

254、l candidates based on the criteria as set out in the selection criteria,possibly with assistance from external agencies and/or advisors;(2)The Nomination Committee and/or the Company Secretary of the Company will then provide the Board with the biographical details and details of the relationship be

255、tween the candidate and the Company and/or Directors,directorships held,skills and experience,other positions which involve significant time commitment and any other particulars required by the Listing Rules,the Companies Law of the Cayman Islands and other regulatory requirements for any candidate

256、for appointment to the Board;(3)The Nomination Committee would then make recommendation to the Board on the proposed candidate(s)and the terms and conditions of the appointment;(4)The Nomination Committee should ensure that the proposed candidate(s)will enhance the diversity of the Board,being parti

257、cularly mindful of gender balance;(5)In the case of the appointment of an Independent Non-executive Director,the Nomination Committee and/or the Board should obtain all information in relation to the proposed Director to allow the Board to adequately assess the independence of the Director in accord

258、ance with the factors set out in Rules 3.08,3.09 and 3.13 of the Listing Rules,subject to any amendments as may be made by the Stock Exchange from time to time;and(6)The Board will then deliberate and decide on the appointment based upon the recommendation of the Nomination Committee.CORPORATE GOVER

259、NANCE REPORT企業管治報告 31高地股份有限公司|二零二四年度報告Gaodi Holdings Limited|Annual Report 2024審核委員會本公司已於二零一七年六月二十二日成立審核委員會，並根據上市規則第3.21條及3.22條制定書面職權範圍。審核委員會書面職權範圍根據守則條文第D3.3段至第D3.7段而採納。書面職權範圍可於本公司及聯交所網站查閱。審核委員會的主要職責為（其中包括）就委任、重新委任及罷免外部核數師向董事會提供建議，審閱財務報表並就財務申報提供重大意見以及監察本公司內部監控及風險管理程序。於本末期報告日期，審核委員會包括三名獨立非執行董事岑政熹先生（

260、主席）、何建先生及楊敏達先生。審核委員會已審閱截至二零二四年六月三十日止年度本公司財務報表及本集團綜合財務報表，包括本公司及本集團所採納的會計原則及慣例。於本年度，審核委員會舉行兩次會議。於該等會議上，審核委員會審閱本集團截至二零二三年十二月三十一日止六個月的中期業績，亦與獨立核數師審閱本集團截至二零二三年六月三十日止十八個月期間的末期業績及本集團內部監控及風險管理職能活動。審核委員會亦審閱本公司執行企業管治守則所載企業管治規定的進展。Audit CommitteeThe Company established the Audit Committee on 22 June 2017 with

261、written terms of reference in compliance with Rule 3.21 and Rule 3.22 of the Listing Rules.The written terms of reference of the Audit Committee was adopted in compliance with paragraph D3.3 to D3.7 of the Code Provisions.Its terms of reference are available on the websites of the Company and the St

262、ock Exchange.The primary duties of the Audit Committee,among other things,are to make recommendation to the Board on the appointment,re-appointment and removal of external auditors,review the financial statements and provide material advice in respect of financial reporting and oversee the internal

263、control and risk management procedures of the Company.As at the date of this final report,the Audit Committee consists of three Independent Non-executive Directors,namely Mr.Shum Ching Hei(Chairman),Mr.He Jian and Mr.Yang Minda.The Audit Committee has reviewed the Companys financial statements and t

264、he Groups consolidated financial statements for the year ended 30 June 2024,including the accounting principles and practices adopted by the Company and the Group.During the year,two meetings have been held by the Audit Committee.At such meetings,it reviewed the interim results of the Group for the

265、six months ended 31 December 2023.It also reviewed the final results of the Group for the eighteen months period ended 30 June 2023 with the independent auditors and the activities of the Groups internal control and risk management functions.It also reviewed the Companys progress in implementing the

266、 corporate governance requirements as set out in the CG Code.32 CORPORATE GOVERNANCE REPORT企業管治報告 高地股份有限公司|二零二四年度報告Gaodi Holdings Limited|Annual Report 2024薪酬委員會本公司已於二零一七年六月二十二日成立薪酬委員會，並根據上市規則第3.25條及第3.26條制定書面職權範圍。薪酬委員會書面職權範圍根據守則條文第E1.2.條而採納。書面職權範圍可於本公司及聯交所網站查閱。薪酬委員會的主要職責為就本集團所有董事及高級管理層的整體薪酬政策及架構向董事

267、會提出建議並保證概無董事可釐定其自身薪酬。執行董事的薪酬基於該等董事的技能、知識、個人表現以及貢獻、職責範圍及責任，並計及本公司表現及現行市場條件而釐定。獨立非執行董事的薪酬政策旨在保證其因付出精力及時間予本公司事務，包括參加各董事下轄委員會，而獲充分補償。獨立非執行董事的薪酬經參考其技能、經驗、知識、職責及市場趨勢而釐定。於本末期報告日期，薪酬委員會包括三名獨立非執行董事楊敏達先生（主席）、岑政熹先生以及何建先生。董事的薪酬詳情載於綜合財務報表附註13。於報告期間，薪酬委員會舉行兩次會議，以審閱本財政年度支付予董事及高級管理層的薪酬以及新委任董事之薪酬。Remuneration Commit

268、teeThe Company established the Remuneration Committee on 22 June 2017 with written terms of reference in compliance with Rule 3.25 and Rule 3.26 of the Listing Rules.The written terms of reference of the Remuneration Committee was adopted in compliance with paragraph E1.2.of the Code Provisions.Its

269、terms of reference are available on the websites of the Company and the Stock Exchange.The primary duties of the Remuneration Committee are to make recommendation to the Board on the overall remuneration policy and structure relating to all Directors and senior management of the Group and to ensure

270、none of the Directors determine their own remuneration.The emoluments of Executive Directors are determined based on their skills,knowledge,individual performance as well as contributions,the scope of responsibility and accountability of such Directors,taking into consideration the Companys performa

271、nce and the prevailing market conditions.The remuneration policy of Independent Non-executive Directors is to ensure that they are adequately compensated for their efforts and time dedicated to the Companys affairs including their participation in their respective Board committees.The emoluments of

272、Independent Non-executive Directors are determined with reference to their skills,experience,knowledge,duties and market trends.As at the date of this final report,the Remuneration Committee consists of three Independent Non-executive Directors,namely Mr.Yang Minda(Chairman),Mr.Shum Ching Hei and Mr

273、.He Jian.Details of remuneration of Directors are set out in note 13 to the Consolidated Financial Statements.During the Reporting Period,two meetings have been held to review the remuneration packages paid to Directors and senior management for the financial year and the remuneration of new Directo

274、rs appointed.CORPORATE GOVERNANCE REPORT企業管治報告 33高地股份有限公司|二零二四年度報告Gaodi Holdings Limited|Annual Report 2024於本年度董事會及其他董事會下轄委員會成員出席會議情況載列於下表：The attendance of individual members of the Board and other Board Committees meetings during the year is set out in the table below:Meeting attended/held出席舉行會議Bo

275、ard MeetingAudit CommitteeRemuneration CommitteeNomination Committee董事會會議審核委員會薪酬委員會提名委員會 EXECUTIVE DIRECTORS執行董事Mr.Li Tingfeng(Chairman and Chief Executive Officer)(appointed as executive director and chief executive officer on 18 August 2023 and appointed as chairman on 29 July 2024)李霆鋒先生（主席及行政總裁）（

276、於二零二三年 八月十八日獲委任為執行董事及行政總裁以及 於二零二四年七月二十九日獲委任為主席）2/2N/A不適用N/A不適用N/A不適用Mr.Hu Hongchu(Chairman)(redesignated as Chairman on 19 December 2023 and resigned on 29 July 2024)胡紅初先生（主席）（於二零二三年十二月十九日 調任為主席及於二零二四年七月二十九日辭任）3/3N/A不適用N/A不適用N/A不適用Mr.Liu Rongru(Chief Executive Officer)(resigned on 18 August 2023)劉榮如

277、先生（行政總裁）（於二零二三年八月十八日辭任）0/1N/A不適用N/A不適用N/A不適用Mr.Huang Jingsheng(appointed on 19 December 2023)黃經勝先生（於二零二三年十二月十九日獲委任）1/1N/A不適用N/A不適用N/A不適用Mr.Hong Jixiang(appointed on 21 June 2024)洪吉翔先生（於二零二四年六月二十一日獲委任）0/0N/A不適用N/A不適用N/A不適用Ms.Chen Chun陳純女士3/3N/A不適用N/A不適用N/A不適用Ms.Li Yanfeng(resigned on 21 July 2023)李艷鳳

278、女士（於二零二三年七月二十一日辭任）0/0N/A不適用N/A不適用N/A不適用NON-EXECUTIVE DIRECTORS非執行董事Mr.Liu Chuanyi(Joint-Chairman)(resigned on 19 December 2023)劉傳義先生（聯席主席）（於二零二三年十二月十九日辭任）2/2N/A不適用N/A不適用N/A不適用Mr.Chen Futian(resigned on 21 June 2024)陳富添先生（於二零二四年六月二十一日辭任）2/3N/A不適用N/A不適用N/A不適用INDEPENDENT NON-EXECUTIVE DIRECTORS獨立非執行董事M

279、r.Chow Yun Cheung(resigned on 21 July 2023)周潤璋先生（於二零二三年七月二十一日辭任）0/0N/A不適用N/A不適用N/A不適用Mr.Shum Ching Hei(appointed on 21 July 2023)岑政熹先生（於二零二三年七月二十一日獲委任）2/22/22/22/2Mr.Lin Zhenqing(resigned on 19 December 2023)林振青先生（於二零二三年十二月十九日辭任）2/22/22/22/2Mr.Yang Minda(appointed on 19 December 2023)楊敏達先生（於二零二三年十二月

280、十九日獲委任）1/11/11/11/1Mr.He Jian何建先生3/33/33/33/334 CORPORATE GOVERNANCE REPORT企業管治報告 高地股份有限公司|二零二四年度報告Gaodi Holdings Limited|Annual Report 2024(C)問責性及審核董事及核數師的確認審核委員會及董事會已審閱本集團截至二零二四年六月三十日止年度的綜合財務報表。董事確認，彼等的責任乃編製本集團的賬目、財務報表、表現狀況及前景。管理層向董事會提供所有相關資料及解釋，以讓董事會可就提呈董事會審批的財務及其他資料作出知情評估。董事相信，彼等已選用適當的會計政策並貫徹應用，

281、作出審慎及合理的判斷及估計。董事會並不知悉任何重大不確定性涉及事件或狀況，從而可能對本集團持續經營能力產生重大疑問。因此，董事會繼續按持續經營基準編製財務報表。本年度賬目經由長青（香港）會計師事務所有限公司審核，其任期將於應屆股東週年大會上屆滿。核數師薪酬截至二零二四年六月三十日止年度，已付應付本公司核數師長青（香港）會計師事務所有限公司的薪酬分析載列如下：審核委員會將建議續聘長青（香港）會計師事務所有限公司提供審核服務，並考慮委聘進行非審核服務以確保審核服務的獨立性及客觀性。(C)ACCOUNTABILITY AND AUDITDirectors and Auditors Acknowled

282、gementThe Audit Committee and the Board have reviewed the Groups consolidated financial statements for the year ended 30 June 2024.The Directors acknowledge their responsibilities for preparing accounts,the financial statements,performance position and prospects of the Group.Management has provided

283、information and explanation to the Board to enable it to make an informed assessment of the financial and other information put before the Board for approval.The Directors believed that they have selected suitable accounting policies and applied them consistently,made judgment and estimates that are

284、 prudent and reasonable.The Board is not aware of any material uncertainties relating to the events or conditions which may cast significant doubt over the Groups ability to continue as a going concern.Accordingly,the Board has continued to adopt the going concern basis in preparing the financial st

285、atements.The accounts for the year were audited by McMillan Woods(Hong Kong)CPA Limited whose term of office will expire upon the forthcoming annual general meeting.Auditors RemunerationFor the year ended 30 June 2024,the analysis of the remuneration of the Companys auditor,McMillan Woods(Hong Kong)

286、CPA Limited,paid/payable is set out below:Amount金額(HK$000)（千港元）Audit services審核服務950,000 The Audit Committee will recommend the reappointment of McMillan Woods(Hong Kong)CPA Limited for audit service,and consider the engagement of the non-audit services to ensure the independence and objectivity of

287、audit service.CORPORATE GOVERNANCE REPORT企業管治報告 35高地股份有限公司|二零二四年度報告Gaodi Holdings Limited|Annual Report 2024(D)風險管理及內部監控董事會對本公司的內部監控及風險管理系統承擔全面責任。董事會利用內部監控及風險管理來提升營運效率及效益、保障股東投資及本公司資產，以及確保符合相關法律及法規要求。本公司的內部監控及風險管理政策旨在對避免重大錯誤陳述提供合理而非絕對的保證，以及協助董事會識別及減輕但非消除風險。根據董事會透過審核委員會進行之年度檢討，內部監控（包括財務、營運及合規之監控以及風險管

288、理系統）被視為足夠及有效。內幕消息的處理和傳播本公司已建立並維持處理及傳播內幕消息的程序及內部監控。本公司已根據上市規則附錄十採納董事買賣本公司證券之行為守則。本集團其他可能擁有本公司內幕消息的僱員亦須遵守有關交易限制。任何內幕消息及可能構成內幕消息的任何資料將即時識別、評估並上報董事會，以供董事會決定是否須予披露。內幕消息及其他根據上市規則須予披露的資料將適時在聯交所及本公司各自的網站上公佈。鑑於本集團業務之規模及範疇，本集團目前並無內部審計部門。董事會將會作出檢討並於其認為有需要時考慮成立有關部門。因此，董事會在審核委員會之協助下直接負責本公司之風險管理及內部監控系統，並負責檢討其成效。為

289、了維持高水平的企業管治，本公司委聘了一名具備相關專業知識的專業人員為外聘獨立顧問，透過一系列訪談，協助識別及評估本集團的風險，並獨立進行內部監控檢討及評估本集團風險管理及內部監控系統之成效。有關獨立檢討及評估之結果已匯報審核委員會及董事會。改善風險管理及內部監控系統是一項持續進程，董事會將不斷致力強化本公司的監控環境及程序。根據報告所載的發現及建議以及審核委員會之意見，董事會認為內部監控及風險管理系統行之有效且足夠。(D)RISK MANAGEMENT AND INTERNAL CONTROLS The Board has overall responsibility for the inte

290、rnal control and risk management systems of the Company.Internal controls and risk management are used by the Board to facilitate the effectiveness and efficiency of operations,safeguard the investment of Shareholders and assets of the Company and to ensure compliance with relevant statutory and reg

291、ulatory requirements.The Companys internal control and risk management policies are designed to provide reasonable,but not absolute,assurance against material misstatements and help the Board identify and mitigate,but not eliminate,risk exposure.The policies and procedures of internal controls(which

292、 include financial,operational and compliance controls and risk management systems)are considered to be adequate and effective based on the annual review conducted by the Board through the Audit Committee.Handling and Dissemination of Inside InformationThe Company has established and maintained proc

293、edures and internal controls for the handling and dissemination of inside information.The Company has adopted a code of conduct for dealing in the securities of the Company by the Directors in accordance with Appendix 10 of the Listing Rules.Other employees of the Group who are likely to be in posse

294、ssion of inside information of the Company are also subject to dealing restrictions.Any inside information and any information which may potentially constitute inside information is promptly identified,assessed and escalated to the Board and for the Board to decide on the need for disclosure.Inside

295、information and other information which is required to be disclosed pursuant to the Listing Rules will be announced on the respective websites of the Stock Exchange and the Company in due course.In light of the size and scale of the Groups businesses,the Group currently does not have an internal aud

296、it department.The Board will review and consider to establish such department as and when it thinks necessary.As such,the Board,supported by the Audit Committee,is directly responsible for risk management and internal control systems of the Company and for reviewing its effectiveness.In order to mai

297、ntain a high standard of corporate governance,the Company engaged an external independent consultant with professional staff in possession of relevant expertise to assist in identifying and assessing the risks of the Group through a series of interviews;and independently perform internal control rev

298、iew and assess effectiveness of the Groups risk management and internal control systems.The results of the independent review and assessment have been reported to the Audit Committee and the Board.The improvement of the systems of risk management and internal control is an ongoing process and the Bo

299、ard maintains a continuing commitment to strengthen the Companys control environment and processes.Based on the findings and recommendations of the report as well as the comments of the Audit Committee,the Board considered the internal control and risk management systems effective and adequate.36 CO

300、RPORATE GOVERNANCE REPORT企業管治報告 高地股份有限公司|二零二四年度報告Gaodi Holdings Limited|Annual Report 2024(E)公司秘書董事會根據本公司的組織章程細則及遵照上市規則之規定委任公司秘書。截至二零二四年六月三十日止年度，公司秘書已遵守上市規則第3.29條所載有關專業培訓的規定。(F)股東權利董事會樂意聽取股東的意見，並歡迎 股 東 於 任 何 時 間 向 本 集 團 提 問及提出質詢。股東可透過股東電郵或致電852-3796 3502聯絡公司秘書或在本公司股東大會上直接提問，將查詢提呈至董事會或高級管理層。持有本公司繳足股本

301、不少於十分之一的股東，可要求董事會召開股東特別大會。相關提呈必須列明召開會議的目的，並送交本公司註冊辦事處，抬頭人為公司秘書，並送交本公司於香港之主要營業地點。股東特別大會將於呈交相關提呈後兩個月內舉行。為保障股東權益及權利，每一個大致獨立的事項在股東大會上均獲提呈獨立決議案（包括選舉個別董事）。在股東大會上提呈表決的所有決議案均將根據上市規則之規定以投票方式進行表決，投票結果將於每次股東大會之後在本公司及聯交所網站登載。任何股東均可委任受委代表或代表代其出席股東大會，而彼等有權於大會行使相同投票權。(E)COMPANY SECRETARY The Board appoints its Com

302、pany Secretary in accordance with the Companys Articles of Association and in compliance with the requirements of the Listing Rules.The Company Secretary has complied with the professional training requirement as set out in the Rule 3.29 of the Listing Rules during the year ended 30 June 2024.(F)SHA

303、REHOLDERS RIGHTS The Board welcomes shareholders to present their views and shareholders may at any time submit their questions and concerns about the Group.Enquiries may be put to the Board or senior management by contacting the Company Secretary through our shareholders email at or by phone at 852

304、-3796 3502 or directly by raising questions at the general meetings of the Company.Shareholder(s)holding not less than one-tenth of Companys paid up capital may request the Board to convene an extraordinary general meeting.The objects of the meeting must be stated in the related requisition deposite

305、d at the Companys registered office and addressing to the Company Secretary at the Companys principal place of business in Hong Kong.The extraordinary general meeting will be held within two months after the deposition of such requisition.To safeguard shareholders interests and rights,a separate res

306、olution is proposed for each substantially separate issue at general meetings,including the election of individual Directors.All resolutions put forward at general meetings will be voted on by poll pursuant to the Listing Rules and poll results will be posted on the websites of the Company and of th

307、e Stock Exchange after each general meeting.Any Shareholder may appoint a proxy or representative to attend the general meeting,and they are entitled to exercise the same voting rights in the meeting.CORPORATE GOVERNANCE REPORT企業管治報告 37高地股份有限公司|二零二四年度報告Gaodi Holdings Limited|Annual Report 2024(G)投資者

308、關係及與股東的溝通本公司認為，與股東之有效溝通對加強投資者關係及投資者對本集團業務表現及策略之了解非常重要。為促進有效溝通，本公司設有網站()，有關網站會登載最新資料以及有關本公司業務運作及發展、財務資料、企業管治常規之最新資料及其他資料。本公司努力維持與股東的持續交流，特別是透過股東週年大會或其他股東大會與股東進行溝通。本公司鼓勵股東出席股東大會，或委任受委代表代其出席股東大會及投票。本公司將於二零二四年十二月舉行應屆股東週年大會。股東週年大會通告將於股東週年大會之前最少20個完整營業日寄發予股東。憲章文件本公司組織章程大綱及細則之最新版本登載於本公司網站。(G)INVESTOR RELAT

309、IONS AND COMMUNICATION WITH SHAREHOLDERS The Company considers that effective communication with shareholders is essential for enhancing investor relations and investor understanding of the Groups business performance and strategies.To promote effective communication,the Company maintains a website

310、at ,where up-to-date information and updates on the Companys business operations and developments,financial information,corporate governance practices and other information are posted.The Company endeavours to maintain an on-going dialogue with its shareholders and in particular,through AGMs or othe

311、r general meetings to communicate with the shareholders.Shareholders are encouraged to participate in general meetings or to appoint proxies to attend and vote at meetings for and on their behalf.The forthcoming AGM of the Company will be held in December 2024.The notice of AGM will be sent to share

312、holders at least 20 clear business days before the AGM.Constitutional DocumentsThe latest version of the Memorandum and Articles of Association of the Company is posted on the Companys website.38 INDEPENDENT AUDITORS REPORT獨立核數師報告書 高地股份有限公司|二零二四年度報告Gaodi Holdings Limited|Annual Report 2024致高地股份有限公司（

313、前稱中國升海集團有限公司）列位股東之獨立核數師報告書（於開曼群島註冊成立的有限公司）意見吾等已審核高地股份有限公司（前稱中國升海集團有限公司）（貴公司）及其附屬公司（統稱 貴集團）載於第44至123頁的綜合財務報表，當中包括於二零二四年六月三十日的綜合財務狀況表、截至該日止年度的綜合損益及其他全面收益表、綜合權益變動表、綜合現金流量表及綜合財務報表附註，包括重大會計政策資料概要。吾等認為，綜合財務報表已根據香港會計師公會（香港會計師公會）頒佈之香港財務報告準則真實而公平地反映 貴集團於二零二四年六月三十日之綜合財務狀況及截至該日止年度之綜合財務表現及其綜合現金流量，並已按照香港公司條例披露規定

314、妥為編製。意見基礎吾等已根據香港會計師公會頒佈之香港核數準則進行審核。吾等於該等準則下之責任於本報告 核數師就審核綜合財務報表承擔的責任 一節中詳述。根據香港會計師公會之專業會計師道德守則（該守則），吾等獨立於 貴集團，及吾等已根據該守則履行其他道德責任。吾等相信，吾等所獲取之審核憑證充足和適當地為吾等之意見提供基礎。關鍵審核事項關鍵審核事項為根據吾等之專業判斷，認為對本期綜合財務報表之審核最為重要事項。該等事項為在吾等審核整體綜合財務報表及出具意見時進行處理。吾等不會對此等事項提供單獨之意見。吾等所識別之關鍵審核事項為貿易應收款項之減值評估。INDEPENDENT AUDITORS REPO

315、RT TO THE SHAREHOLDERS OF GAODI HOLDINGS LIMITED(FORMERLY KNOWN AS CHINA SHENGHAI GROUP LIMITED)(incorporated in Cayman Islands with limited liability)OPINIONWe have audited the consolidated financial statements of Gaodi Holdings Limited(formerly Known as China Shenghai Group Limited)(the“Company”)a

316、nd its subsidiaries(together the“Group”)set out on pages 44 to 123,which comprise the consolidated statement of financial position as at 30 June 2024 and the consolidated statement of profit or loss and other comprehensive income,the consolidated statement of changes in equity and the consolidated s

317、tatement of cash flows for the year then ended,and notes to the consolidated financial statements,including a summary of material accounting policy information.In our opinion,the consolidated financial statements give a true and fair view of the consolidated financial position of the Group as at 30

318、June 2024 and of its consolidated financial performance and its consolidated cash flows for the year then ended in accordance with Hong Kong Financial Reporting Standards issued by the Hong Kong Institute of Certified Public Accountants(“HKICPA”)and have been properly prepared in compliance with the

319、 disclosure requirements of the Hong Kong Companies Ordinance.BASIS OF OPINIONWe conducted our audit in accordance with Hong Kong Standards on Auditing(“HKSAs”)issued by the HKICPA.Our responsibilities under those standards are further described in the“Auditors Responsibilities for the Audit of the

320、Consolidated Financial Statements”section of our report.We are independent of the Group in accordance with the HKICPAs“Code of Ethics for Professional Accountants”(the“Code”),and we have fulfilled our other ethical responsibilities in accordance with the Code.We believe that the audit evidence we ha

321、ve obtained is sufficient and appropriate to provide a basis for our opinion.KEY AUDIT MATTERSKey audit matters are those matters that,in our professional judgment,were of most significance in our audit of the consolidated financial statements of the current period.These matters were addressed in th

322、e context of our audit of the consolidated financial statements as a whole,and in forming our opinion thereon,and we do not provide a separate opinion on these matters.The key audit matter we identified is impairment assessment on trade receivables.INDEPENDENT AUDITORS REPORT獨立核數師報告書 39高地股份有限公司|二零二四

323、年度報告Gaodi Holdings Limited|Annual Report 2024Key Audit MatterHow our audit addressed the Key Audit Matter關鍵審核事項吾等的審計如何處理關鍵審核事項IMPAIRMENT ASSESSMENT ON TRADE RECEIVABLES貿易應收款項減值評估Refer to summary of material accounting policy information in note 4,critical judgements and Key estimates in note 5 and d

324、isclosure of trade receivables in note 22 to the consolidated financial statements.茲提述綜合財務報表附註4的重大會計政策資料概要、附註5的關鍵判斷及主要估計以及附註22的貿易應收款項披露。As at 30 June 2024,the Group had net trade receivables amounting to approximately RMB89,913,000,after making loss allowance of approximately RMB358,000.It represent

325、s 34%of the total assets of the Group and is considered quantitatively significant to the Group.於 二 零 二 四 年 六 月 三 十 日，作 出 虧 損 撥 備 約 人 民 幣358,000元後，貴集團的貿易應收款項淨額為約人民幣89,913,000元，佔 貴集團資產總值的34%，數額被視為對 貴集團而言屬龐大。The Groups loss allowance is measured at an amount equal to lifetime expected credit loss(“ECL

326、”)based on managements estimated loss rates for trade receivables.The estimated loss rates take into account the credit history including default or delay in payments,settlement records,subsequent settlements and ageing analysis of the trade receivables.貴集團的虧損撥備是根據管理層對貿易應收款項的估計損失率，按相等於全期預期信貸虧損（預期信貸虧

327、損）的金額計量。估計損失率考慮信用歷史，包括拖欠或延遲付款、結算記錄、後續結算以及貿易應收款項的賬齡分析。Our procedures in relation to managements impairment assessment on trade receivables included the following:吾等就管理層對貿易應收款項減值評估進行的程序包括：obtaining an understanding of and assessing the design,implementation and operating effectiveness of key internal

328、controls relating to credit control,debt collection and calculation of the ECLs;了解及評估有關信貸監控、債務催收及計算預期信貸虧損之關鍵內部控制的設計、實施及運作成效；assessing,on a sample basis,whether items in the trade receivables ageing report were classified within the appropriate ageing bracket by comparing individual items in the repo

329、rt with the relevant sales invoices and delivery records;透過抽樣比較報告內個別項目與相關銷售發票及交付記錄，評估貿易應收款項賬齡報告的項目是否已分類至適當的賬齡類別；40 INDEPENDENT AUDITORS REPORT獨立核數師報告書 高地股份有限公司|二零二四年度報告Gaodi Holdings Limited|Annual Report 2024Key Audit MatterHow our audit addressed the Key Audit Matter關鍵審核事項吾等的審計如何處理關鍵審核事項IMPAIRMENT

330、 ASSESSMENT ON TRADE RECEIVABLES continued貿易應收款項減值評估續We have identified impairment assessment of trade receivables as a key audit matter due to considerable amount of judgement and estimates being required in conducting impairment assessment as mentioned in the forgoing paragraph.如前段所述，由於進行減值評估需要大量的

331、判斷和估計，因此我們已將貿易應收款項的減值評估確定為關鍵審核事項。Obtaining an understanding of and evaluating the Groups credit policies and internal control on impairment assessment;了解並評估 貴集團的信貸政策及對減值評估的內部控制；With the assistance of auditors expert,a s s e s s i n g t h e r e a s o n a b l e n e s s o f managements loss allowance e

332、stimates by examining the information used by management to form such judgements,including testing the accuracy of the historical default data,evaluating whether the historical loss rates are appropriately adjusted based on current economic conditions and forward-looking information and examining th

333、e actual losses recorded during the current financial year and assessing whether there was an indication of management bias when recognising loss allowances;在核數師專長的協助下，透過檢查管理層用以作出有關判斷的資料（包括測試過往違約數據的準確性及評估過往虧損率是否根據當前經濟狀況及前瞻性資料作出適當調整及審查本財政年度錄得的實際虧損），評估管理層虧損撥備估計的合理性；Recalculating the amounts of the ECL on trade receivables and assessing the appropriateness and adequacy of the impairment under ECL mod