南南资源 年报2017

南南资源 年报2017

(Stock Code : 1229)

(Incorporated in Bermuda with limited liability) Annual Report 2017

南南资源 年报2017

CONTENT

2Corporate Information

4Chairman’s Statement

8Management Discussion and Analysis

20Biography of Directors and Senior Management 24Corporate Governance Report

40Report of the Directors

52Independent Auditor’s Report

61Consolidated Statement of Profit or Loss and Other Comprehensive Income

62Consolidated Statement of Financial Position

64Consolidated Statement of Changes in Equity

66Consolidated Statement of Cash Flows

68Notes to the Financial Statements

167Five-Year Financial Summary

This annual report is prepared in English and Chinese.

In case of inconsistency, please refer to the English version as it shall prevail.

南南资源 年报2017

NAN NAN RESOURCES ENTERPRISE LIMITED

2

CORPORATE INFORMATION

BOARD OF DIRECTORS

Executive Directors

Kwan Man Fai (Chairman & Managing Director)Lo Fong Hung

Wang Xiangfei (Wong Sze Wai as his alternate)Independent Non-executive Directors Lam Ka Wai, Graham Wong Man Hin, Raymond Chan Yiu Fai, Youdey

AUDIT COMMITTEE

Lam Ka Wai, Graham (Chairman)Wong Man Hin, Raymond Chan Yiu Fai, Youdey

REMUNERATION COMMITTEE

Wong Man Hin, Raymond (Chairman)Kwan Man Fai

Lam Ka Wai, Graham Chan Yiu Fai, Youdey

NOMINATION COMMITTEE

Kwan Man Fai (Chairman)Lam Ka Wai, Graham Wong Man Hin, Raymond Chan Yiu Fai, Youdey

COMPANY SECRETARY

Li Chun Fung

AUDITOR

Crowe Horwath (HK) CPA Limited 9/F., Leighton Centre 77 Leighton Road

Causeway Bay, Hong Kong

77 9

南南资源 年报2017

Annual Report 2017

3

CORPORATE INFORMATION

LEGAL ADVISER

Conyers Dill and Pearman

2901, One Exchange Square

8 Connaught Place

Central, Hong Kong

PRINCIPAL BANKERS

Industrial and Commercial Bank of China (Asia) Limited

China CITIC Bank International Limited

REGISTERED OFFICE

Clarendon House

2 Church Street

Hamilton HM11

Bermuda

HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESS 8/F., Tower 2

Admiralty Centre

18 Harcourt Road

Admiralty, Hong Kong

PRINCIPAL SHARE REGISTRAR AND

TRANSFER OFFICE

MUFG Fund Services (Bermuda) Limited

The Belvedere Building

69 Pitts Bay Road

Pembroke HM08, Bermuda

HONG KONG BRANCH SHARE REGISTRAR AND TRANSFER OFFICE

Union Registrars Limited

Suites 3301-04, 33/F.

Two Chinachem Exchange Square

338 King’s Road

North Point, Hong Kong

HONG KONG STOCK EXCHANGE STOCK CODE 1229

WEBSITE

http://www.77cn.com.cn

Conyers Dill and Pearman

8

1 2901

Clarendon House

2 Church Street

Hamilton HM11

Bermuda

18

2 8

MUFG Fund Services (Bermuda) Limited The Belvedere Building

69 Pitts Bay Road

Pembroke HM08, Bermuda

338

2

33 3301-04

1229

http://www.77cn.com.cn

南南资源 年报2017

CHAIRMAN’S STATEMENT

4TO ALL SHAREHOLDERS

On behalf of the board of directors (the “Board”) of Nan Nan

Resources Enterprise Limited (the “Company”), I present to you the

audited consolidated final results of the Company and its subsidiaries

(collectively the “Group”) for the year ended 31 March 2017.

RESULTS AND DIVIDENDS

For the financial year ended 31 March 2017, the Group recorded

a revenue of approximately HK$73,024,000 (2016: approximately

HK$59,841,000) and profit of approximately HK$48,267,000 (2016:

loss approximately HK$79,608,000) respectively. The Board does

not recommend the payment of any dividend for the year ended 31

March 2017 (2016: Nil).

Profit of the Group for the year ended 31 March 2017 was

approximately HK$48,267,000 (2016: loss approximately

HK$79,608,000), representing a turnaround from loss to profit of

approximately HK$127,875,000 as compared with last year. The

net effect of increase in profit was mainly due to the turnaround

from loss to gain on change in fair value and loss arising from

extension of convertible bond of approximately HK$129,483,000

and no impairment loss on intangible assets and property, plant

and equipment incurred during the year (2016: approximately

HK$12,012,000).

BUSINESS REVIEW

For the financial year ended 31 March 2017, the Group continued to

focus on coal resources mining business.

During the financial year, the growth of the People’s Republic of

China (the “PRC”) economy continued to slow down. The demand

for coals from the market has been decreasing gradually in recent

years as a result of fewer large scale industrial and infrastructure

projects and the promotion of the use of clean energy by the

PRC government, which also had negative impacts on the coal

price, exerting high pressure to the Group’s operation. However,

the management of the Group has adjusted short-term operation

strategy and modified the production plan through understanding the

local government‘s policies. The Group will keep strict control over

the costs and expenses to maintain a strong financial position as a

whole.

73,024,000

59,841,000

48,267,000

79,608,000

48,267,000

79,608,000

127,875,000

129,483,000

12,012,000

NAN NAN RESOURCES ENTERPRISE LIMITED

南南资源 年报2017

CHAIRMAN’S STATE …… 此处隐藏：23381字，全部文档内容请下载后查看。喜欢就下载吧 ……