CHAODA MODERN AGRICULTURE
(HOLDINGS) LIMITED
(incorporated in the Cayman Islands with limited liability)
(Stock Code: 682 )
ANNUAL REPO RT
2020/202 1
Contents
Corporate Information | 2 |
Chairman's Statement | 4 |
Management Discussion and Analysis | 6 |
Corporate Governance Report | 9 |
Environmental, Social and Governance Report | 21 |
Profiles of Directors and Senior Executives | 54 |
Directors' Report | 58 |
Independent Auditor's Report | 71 |
Consolidated Statement of Profit or Loss and | 76 |
Other Comprehensive Income | |
Consolidated Statement of Financial Position | 78 |
Consolidated Statement of Cash Flows | 80 |
Consolidated Statement of Changes in Equity | 82 |
Notes to the Consolidated Financial Statements | 83 |
Five Year Financial Summary | 134 |
Corporate Information
BOARD OF DIRECTORS | REMUNERATION COMMITTEE |
Executive Directors | Mr. Fung Chi Kin (Chairman) |
Mr. Kwok Ho (Chairman) | Mr. Tam Ching Ho |
Mr. Kuang Qiao | |
Mr. Kuang Qiao | |
Non-executive Director | NOMINATION COMMITTEE |
Mr. Ip Chi Ming | Mr. Fung Chi Kin (Chairman) |
Mr. Kwok Ho | |
Independent Non-executive Directors | Mr. Kuang Qiao |
Mr. Tam Ching Ho | |
Mr. Fung Chi Kin | Professor Lin Shun Quan |
Mr. Tam Ching Ho | AUTHORISED REPRESENTATIVES |
Professor Lin Shun Quan | |
AUDIT COMMITTEE | Mr. Kwok Ho |
Mr. Ip Chi Ming | |
Mr. Tam Ching Ho (Chairman) | COMPANY SECRETARY |
Mr. Fung Chi Kin | |
Professor Lin Shun Quan | Mr. Yeung Man Chit |
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Corporate Information
STOCK CODE
The Stock Exchange of Hong Kong Limited: 682
AUDITORS
Elite Partners CPA Limited
Certified Public Accountants
PRINCIPAL BANKS
China CITIC Bank Corporation Limited
Industrial Bank Co., Ltd.
Ping An Bank Co., Ltd.
Bank of Communications Co., Ltd.
Industrial and Commercial Bank of China Limited
China Construction Bank Corporation
China Minsheng Bank Corp., Ltd.
Agricultural Bank of China Limited
Bank of China Limited
REGISTERED OFFICE
P.O. Box 309
Ugland House
Grand Cayman
KY1-1104
Cayman Islands
HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESS IN HONG KONG
Room B, 21st Floor
Times Media Centre
133 Wan Chai Road
Wanchai, Hong Kong
SHARE REGISTRAR AND TRANSFER OFFICE
Tricor Abacus Limited
Level 54
Hopewell Centre
183 Queen's Road East
Hong Kong
COMPANY'S WEBSITE
http://www.chaoda.com.hk
http://www.irasia.com/listco/hk/chaoda
2020 / 2021 ANNUAL REPORT | CHAODA MODERN AGRICULTURE (HOLDINGS) LIMITED | 3 | |
Chairman's Statement
I hereby present the annual results of Chaoda Modern Agriculture (Holdings) Limited (the "Company") and its subsidiaries (collectively referred to as the "Group" or "Chaoda") for the financial year ended 30 June 2021 on behalf of the board of directors (the "Board") of the Company.
REVIEW
At the beginning of 2021, the central government released the "No. 1 document" (一號文件), "Opinions of the State Council on Comprehensively Pushing forward Rural Revitalization and Accelerating Modernization of Agriculture and Rural Areas", stated that "Three Rural Issues" should be well solved during the "14th Five-Year Plan" period, focusing on accelerating agricultural modernization, optimizing the distribution of agricultural products trading, proposes the implementation of the Party and the Government having the same responsibility in terms of food security. This is the 18th consecutive year that the "No. 1 document" to show concern over the problem of "Agriculture, Rural Areas, and Rural People" in the PRC.
As for the above-mentioned central government's strategic action to ensure the effective supply of important agricultural products, food safety, etc., being a national key leading enterprise that has been rooted in China for 30 years, Chaoda has taken an initiative role in structural reforms on the supply side of agriculture. The Chaoda new business operation model was highly consistent with national guidelines and policies, which emphasize in protection of food safety, the realization of customized production of agricultural products by connecting the production and consumption, and the effective linkage mechanism between small farmers and modern agriculture. Once again it proves the forward-looking nature, correctness, great development prospects and potential of Chaoda new business operation model.
Due to the global macroeconomic factors and the pandemic of the novel coronavirus disease ("COVID-19"), the market is flooded with uncertainties. The financial year ending 30 June, 2021 is still a difficult and challenging year for the Group. The Group needs to adjust and integrate resources from the above-mentionedsupply-side structural reform in agricultural. We expect that after the COVID-19 epidemic is basically over, the Group will intensify efforts to carry out pilot docking work, accelerate the implementation of projects, build urban agricultural demonstration areas, establish a cooperative agricultural system, and promote the construction of beautiful countryside. In June 2021, Chaoda was continuously recognised as "China's 500 Most Valuable Brands" by the World Brand Laboratory, ranking 83rd with a brand value of RMB65.8 billion.
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Chaoda Modern Agriculture (Holdings) Ltd. published this content on 20 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 October 2021 11:13:15 UTC.