Golden Solar New Energy Technology : Annual Report 2021

BOARD OF DIRECTORS	໨ԫึ
Executive Directors	ੂБ໨ԫ
Mr. LEUNG Tsz Chung (re-designated from the Vice-chairman	૑ɿ䁈΋͛€׵ɚཧɚɓϋɚ˜ɚɤʬ˚
to the Chairman and Chief Executive Officer	͟ਓ˴ࢩሜ΂މ˴ࢩࡒБ݁ᐼ൒
on 26 February 2021)
Mr. ZHENG Jingdong	ቍ౻؇΋͛
Dr. XU Zhi (appointed as Chief Technology Officer	஢ қ ௹ ɻ€ ׵ ɚ ཧ ɚ ɓ ϋ ɚ ˜ ɚ ɤ ʬ ˚
on 26 February 2021)	ᐏ։΂މ࠯ࢩҦஔ֜
Non-Executive Director	ڢੂБ໨ԫ
Ms. LIN Weihuan	؍⑸ᛇɾɻ
Independent Non-Executive Directors	ዹͭڢੂБ໨ԫ
Ms. AN Na	τࢆɾɻ
Mr. CHEN Shaohua	௓ˇശ΋͛
Professor ZHAO Jinbao	Ⴛږڭ઺બ
BOARD COMMITTEES	໨ԫ։ࡰึ
Audit Committee	ᄲࣨ։ࡰึ
Mr. CHEN Shaohua (Chairperson)	௓ˇശ΋͛€˴ࢩ
Professor ZHAO Jinbao	Ⴛږڭ઺બ
Ms. AN Na	τࢆɾɻ
Remuneration Committee	ᑚཇ։ࡰึ
Ms. AN Na (Chairperson)	τࢆɾɻ€˴ࢩ
Professor ZHAO Jinbao	Ⴛږڭ઺બ
Mr. CHEN Shaohua	௓ˇശ΋͛
Nomination Committee	౤Τ։ࡰึ
Professor ZHAO Jinbao (Chairperson)	Ⴛږڭ઺બ€˴ࢩ
Mr. CHEN Shaohua	௓ˇശ΋͛
Ms. AN Na	τࢆɾɻ
COMPANY SECRETARY	ʮ̡।ࣣ
Mr. IP Pui Sum	໢Ӓಌ΋͛
AUTHORISED REPRESENTATIVES	બᛆ˾ڌ
Mr. LEUNG Tsz Chung	૑ɿ䁈΋͛
Mr. ZHENG Jingdong	ቍ౻؇΋͛
STOCK CODE	ٰ΅˾໮
01121	01121
COMPANY WEBSITE	ʮ̡ၣ१
www.goldensolargroup.com	www.goldensolargroup.com
ږජอঐ๕߅ҦછٰϞࠢʮ̡ ɚཧɚɓϋϋܓజѓ

Corporate Information ʮ̡༟ࣘ

HEAD OFFICE IN THE PRC

Corporate Information ʮ̡༟ࣘ

Huoju Industrial Zone

Jiangnan Town Licheng District Quanzhou City Fujian Province PRC

ʕ਷ᐼ௅ ʕ਷ ၅ܔ޲ ݰψ̹ ᕫ۬ਜ Ϫیᕄ ˦ދʈุਜ

PRINCIPAL PLACE OF BUSINESS IN HONG KONG

Room 504, 5/F

OfficePlus @Sheung Wan 93-103 Wing Lok Street Sheung Wan

Hong Kong

࠰ಥ˴ࠅᐄุήᓃ ࠰ಥ ɪᐑ ͑ᆀ൑93-103໮ ՘ϓБɪᐑʕː 5ᅽ504܃

REGISTERED OFFICE

Cricket Square

Hutchins Drive, P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands

ൗ̅፬ԫஈ

Cricket Square

Hutchins Drive, P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands

CAYMAN ISLANDS PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE

Suntera (Cayman) Limited

Suite 3204, Unit 2A Block 3, Building D P. O. Box 1586 Gardenia Court Camana Bay

Grand Cayman KY1-1110 Cayman Islands

කਟ໊ࢥ˴ࠅٰ΅ཀ˒೮াஈ

Suntera (Cayman) Limited Suite 3204, Unit 2A Block 3, Building D P. O. Box 1586 Gardenia Court Camana Bay

Grand Cayman KY1-1110 Cayman Islands

HONG KONG SHARE REGISTRAR

Tricor Investor Services Limited

Level 54, Hopewell Centre 183 Queen's Road East Hong Kong

࠰ಥᗇՎ೮াஈ ՙԳᗇՎ೮াϞࠢʮ̡ ࠰ಥ ެΧɽ༸؇183໮ Υձʕː54ᅽ

AUDITORS

Confucius International CPA Limited

ࣨᅰࢪ

˂਄਷ყึࠇࢪԫਕהϞࠢʮ̡

PRINCIPAL BANKERS

China Construction Bank HSBC

Industrial Bank

˴ࠅֻԸვБ ʕ਷ܔணვБ ිᔮვБ ጳุვБ

Corporate Information	ʮ̡༟ࣘ	1
Five-Year Financial Summary	ʞϋৌਕ฿ࠅ	4
Chairman's Statement	˴ࢩజѓࣣ	5
Management Discussion and Analysis	၍ଣᄴীሞʿʱؓ	7
Corporate Governance Report	Άุ၍طజѓ	19
Environmental, Social and Governance Report	ᐑ ྤeٟ ึ ʿ ၍ ط జ ѓ	37
Biographical Details of Directors	໨ԫᄵዝ༉ઋ	60
Report of the Directors	໨ԫึజѓ	64
Independent Auditor's Report	ዹͭࣨᅰࢪజѓ	79
Consolidated Statement of Profit or Loss	ၝΥฦूʿՉ˼Όࠦϗूڌ	89
and Other Comprehensive Income
Consolidated Statement of Financial Position	ၝΥৌਕًرڌ	90
Consolidated Statement of Changes in Equity	ၝΥᛆूᜊਗڌ	92
Consolidated Statement of Cash Flows	ၝΥତږݴඎڌ	93
Notes to the Consolidated Financial Statements	ၝΥৌਕజڌڝൗ	95

Content ͦ፽

ږජอঐ๕߅ҦછٰϞࠢʮ̡ ɚཧɚɓϋϋܓజѓ

For the year ended 31 December

Five-Year Financial Summary ʞϋৌਕ฿ࠅ

࿚Їɤɚ˜ɧɤɓ˚˟ϋܓ

2021	2020	2019	2018	2017
ɚཧɚɓϋ	ɚཧɚཧϋ	ɚཧɓɘϋ	ɚཧɓɞϋ	ɚཧɓɖϋ
Profitability data	ޮлঐɢᅰኽ
(RMB million)	€ɛ͏࿆ϵຬʩ
Revenue	ϗू	313.5	111.9	169.7	164.5	125.5
Gross profit	ˣл	88.5	18.0	30.1	39.5	28.5
Profit/(loss) for the year	ϋʫлᆗŊ€ᑦฦ	9.2	(108.8)	(314.4)	(275.3)	(435.4)
Profitability ratios (%)	ޮлঐɢˢଟ(%)
Gross profit margin	ˣлଟ	28.2%	16.1%	17.7%	24.0%	22.7%
Net profit/(loss) margin	ଋлᆗŊ€ᑦฦଟ	2.9%	(97.2)%	(185.3)%	(167.4)%	(346.9)%
Assets and liabilities data	༟ପʿࠋවᅰኽ
(RMB million)	€ɛ͏࿆ϵຬʩ
Non-current assets	ڢݴਗ༟ପ	160.9	92.8	153.9	441.9	705.3
Current assets	ݴਗ༟ପ	415.8	102.8	120.5	128.8	110.4
Current liabilities	ݴਗࠋව	268.5	234.9	223.3	251.9	294.1
Non-current liabilities	ڢݴਗࠋව	23.4	5.6	3.1	4.8	108.2
Shareholders' equity	ٰ؇ᛆू	284.8	(44.9)	48.0	313.9	413.4
Asset and working	༟ପʿᐄ༶༟ږ
capital data	ᅰኽ
Current asset ratios (%)	ݴਗ༟ପˢଟ(%)	72.1%	52.5%	43.9%	22.6%	13.5%
Current ratios (time)	ݴਗˢଟ€࠴	1.5x	0.4x	0.5x	0.5x	0.4x
Gearing ratios (%)	࿳૖ˢଟ(%)	100.2%	(523.8)%	466.4%	80.9%	96.0%