卜蜂国际：二零一七年年报.pdf

ANNUAL REPORT 2017 CONTENTS 目錄 Chairman’s Statement 2 董事長報告書 Financial Highlights 12 財務概要 Management Discussion and Analysis 13 管理層討論及分析 Corporate Governance Report 19 企業管治報告 Biographical Details of Directors and Senior Management 32 董事及高級管理人員履歷詳情 Report of the Directors 38 董事報告書 Independent Auditor’s Report 62 獨立核數師報告 Consolidated Statement of Comprehensive Income 71 綜合全面收益表 Consolidated Statement of Financial Position 74 綜合財務狀況表 Consolidated Statement of Changes in Equity 76 綜合權益變動表 Consolidated Statement of Cash Flows 78 綜合現金流量表 Notes to Financial Statements 80 財務報表附註 Corporate Information 211 公司資料 Chairman’s Statement 董事長報告書 In 2017, the global economy was recovering. Looking at the two key markets in which C.P. Pokphand Co. Ltd. (the “Company”) and its subsidiaries (together the “Group”) operate, China’s gross domestic product growth rose to 6.9% in 2017 from 6.7% in 2016 and 6.7%6.9% Vietnam’s gross domestic product growth rose to 6.8% in 2017 from 6.2% 6.2% in 2016. During the year, China implemented a series of new 6.8% economic policy measures on supply-side reform, economic structure optimisation, and transformation and upgrading