亚洲资源 二零一七年年报

亚洲资源 二零一七年年报

ANNUAL REPORT 年報

Asia Resources Holdings Limited (Stock Code 股份代號: 899)

僅供識別

亚洲资源 二零一七年年报

248192942536264666871184CONTENTS

目錄

CORPORATE INFORMATION

公司資料

BIOGRAPHICAL DETAILS OF DIRECTORS

董事履歷

CORPORATE GOVERNANCE REPORT

企業管治報告

BOARD OF DIRECTORS' STATEMENT , MANAGEMENT DISCUSSION AND ANALYSIS 董事會總結與管理層討論及分析

DIRECTORS’ REPORT

董事會報告

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT 環境、社會及管治報告

INDEPENDENT AUDITORS’ REPORT

獨立核數師報告

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

綜合損益及其他全面收益表

CONSOLIDATED STATEMENT OF FINANCIAL POSITION 綜合財務狀況表

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 綜合權益變動表

CONSOLIDATED STATEMENT OF CASH FLOWS

綜合現金流量表

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 綜合財務報表附註

FINANCIAL SUMMARY

財務摘要

亚洲资源 二零一七年年报

2

CORPORATE INFORMATION 公司資料

Asia Resources Holdings Limited | 亞洲資源控股有限公司

BOARD OF DIRECTORS

Executive Directors

Mr. Huang Yilin

Mr. Chan Shi Yin, Keith Mr. Liu Yan Chee, James

(appointed on 26 April 2017)Mr. Chan Yuk Sang

(appointed on 28 April 2017)Mr. Wu Hongquan (Chairman)

(resigned with effect from 28 April 2017)Ms. Li Yali

(resigned with effect from 28 April 2017)Mr. Zhang Zhensheng

(resigned with effect from 28 April 2017)

Independent Non-executive Directors

Mr. Zhang Xianlin

Mr. Kwok Hong Yee, Jesse

Mr. Ng Ping Yiu (appointed on 1 October 2016)Mr. Ho Chun Kit, Gregory

(resigned with effect from 1 October 2016)

COMPANY SECRETARY

Mr. Law Ho Ming

AUDIT COMMITTEE

Mr. Ng Ping Yiu (Chairman)

(appointed on 1 October 2016)Mr. Zhang Xianlin

Mr. Kwok Hong Yee, Jesse Mr. Ho Chun Kit, Gregory

(resigned with effect from 1 October 2016)

REMUNERATION COMMITTEE

Mr. Zhang Xianlin (Chairman)Mr. Kwok Hong Yee, Jesse Mr. Chan Shi Yin, Keith

Mr. Ng Ping Yiu (appointed on 1 October 2016)Mr. Ho Chun Kit, Gregory

(resigned with effect from 1 October 2016)

NOMINATION COMMITTEE

Mr. Kwok Hong Yee, Jesse (Chairman)Mr. Zhang Xianlin

Mr. Chan Shi Yin, Keith

Mr. Ng Ping Yiu (appointed on 1 October 2016)Mr. Ho Chun Kit, Gregory

(resigned with effect from 1 October 2016)

黃逸林先生陳詩賢先生劉恩賜先生

（於二零一七年四月二十六日獲委任）陳玉生先生

（於二零一七年四月二十八日獲委任）吳宏權先生（主席）

（已辭任，自二零一七年四月二十八日起 生效）李亞利女士

（已辭任，自二零一七年四月二十八日起生效）張振生先生

（已辭任，自二零一七年四月二十八日起生效）

張憲林先生郭匡義先生伍炳耀先生（於二零一六年十月一日獲委任）何俊傑先生

（已辭任，自二零一六年十月一日起生效）

羅浩銘先生

伍炳耀先生（主席）

（於二零一六年十月一日獲委任）張憲林先生郭匡義先生何俊傑先生

（已辭任，自二零一六年十月一日起生效）

張憲林先生（主席）郭匡義先生陳詩賢先生伍炳耀先生（於二零一六年十月一日獲委任）何俊傑先生

（已辭任，自二零一六年十月一日起生效）

郭匡義先生（主席）張憲林先生陳詩賢先生伍炳耀先生（於二零一六年十月一日獲委任）何俊傑先生

（已辭任，自二零一六年十月一日起生效）

亚洲资源 二零一七年年报

3

CORPORATE INFORMATION 公司資料

Annual Report 2017 年報

中國銀行（香港）有限公司

交通銀行股份有限公司香港分行中國民生銀行股份有限公司中國工商銀行（亞洲）有限公司

國衛會計師事務所有限公司執業會計師

Clarendon House 2 Church Street Hamilton HM11Bermuda

香港

皇后大道中183號中遠大廈43樓4312室

Conyers Corporate Services (Bermuda) Limited （已更改名稱，自二零一七年四月一日起生效）Clarendon House 2 Church Street Hamilton HM11Bermuda

卓佳秘書商務有限公司香港

皇后大道東183號合和中心22樓

899

PRINCIPAL BANKERS

Bank of China (Hong Kong) Limited

Bank of Communications Co., Ltd. Hong Kong Branch China Minsheng Banking Corp. Ltd.

Industrial and Commercial Bank of China (Asia) Limited

AUDITORS

HLB Hodgson Impey Cheng Limited

Certified Public Accountants

REGISTERED OFFICE

Clarendon House 2 Church Street Hamilton HM11Bermuda

PRINCIPAL PLACE OF

BUSINESS IN HONG KONG

Unit 4312, 43/F, COSCO Tower 183 Queen’s Road Central Hong Kong

PRINCIPAL SHARE REGISTRAR

Conyers Corporate Services (Bermuda) Limited (name changed with effect from 1 April 2017)Clarendon House 2 Church Street Hamilton HM11Bermuda

HONG KONG BRANCH SHARE REGISTRAR

Tricor Secretaries Limited Level 22, Hopewell Centre 183 Queen’s Road East Hong Kong

WEBSITE

STOCK CODE

899

亚洲资源 二零一七年年报

4BIOGRAPHICAL DETAILS OF DIRECTORS 董事履歷

Asia Resources Holdings Limited | 亞洲資源控股有限公司EXECUTIVE DIRECTORS

Mr. Huang Yilin , aged 48, was appointed as an executive director of the Company on 23 January 2015. Mr. Huang graduated from The Institute of Finance and Economics of Radio and Television (電大財經學院) in 1992 and is engaged in management related works since graduation. During the past years, Mr. Huang was the general manager of Shantou Sanye Plastic Company Limited (汕頭市三葉塑料有限公司) Shenzhen China Investment Company Limited (深圳市中聯資有限公司) Shenzhen Rihuisheng G roup Company Limited (深圳市日匯盛集團有限公司) and Shenzhen Hongxun Investment Company Limited (深圳市鴻訊投資有限公司) respectively and has extensive theoretical knowledge and practical experience in corporate modern management.

Mr. Chan Shi Yin, K eith , aged 56, was appointed as an executive director of the Company on 23 January 2015 and as the members of each of the nomination committee and remuneration committee of the Company on 30 January 2015. He was also appointed as (i) an authorized representative of the Company under The Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Authorised Representative”) and (ii) the authorized representative of the Company for the purpose of accepting service of process and notices in Hong Kong (the “Process Agent”) on 23 January 2015.

Mr. Chan has over 30 years of experience in finance, investment and management and worked in different sectors such as insurance, bullion and foreign exchange investment, project mergers and acquisitions, corporate consulting services and fund investment. Mr. Chan was the regional manager of American International Assurance Company (Bermuda) Limited (美國友邦保險（百慕達）有限公司) from 1984 to 1992 and senior vice president of Emperor Financial Services Group (英皇金融集團) from 1992 to 1994. Since then, he founded Top G un Investment Limited, his self-financing financial investment company, in 1994 and was the president until 2013. Top Gun provides corporate planning and consulting services to enterprises in listing, project investments (especially in real estate and new energy industry), corporate finance and solicitation of business. From ，48歲，於二零一五年一月二十三日獲委任為本公司執行董事。黃先生於一九九二年從電大財經學院專科畢業，畢業後一直從事管理類相關工作，歷年先後在汕頭市三葉塑料有限公司、深圳市中聯資有限公司、深圳市日匯盛集團有限公司及深圳市鴻訊投資有限公司擔任總經理一職，黃先生在企業的現代管理方面有著豐富的理論知識和實操經驗。 ，56歲，於二零一五年一月二十三日獲委任為本公司執行董事及於二零一五年一月三十日獲委任為本公司提名委員會及薪酬委員會各自之成員。彼亦於二零一五年一月二十三日獲委任為(i)香港聯合交易所有限公司證券上市規則項下之本公司授權代表（「授權代表」）及(ii)在香港接受法律程序文件及通知本公司之授權代表（「法律程序文件代理人」）。陳先生擁有30年之金融、投資及管理經驗，曾從事保險業、黃金及外匯投資、項目併購、企業諮詢服務及基金投資等不同領域。陳先生自一九八四年至一九九二年於美國友邦保險（百慕達）有限公司任職區域經理及自一九九二年至一九九四年於英皇金融集團任職資深副總裁。此後，彼於一九九四年創辦其自資金融投資公司Top Gun Investment Limited 並出任總裁直至二零一三年為止。Top Gun 負責為企業提供企業策劃及諮詢服務，範圍涉及上市、項目投資（尤其於房地產及新能源行業）、企業融資及招商。自二零一三年

亚洲资源 二零一七年年报

5BIOGRAPHICAL DETAILS OF DIRECTORS 董事履歷

Annual Report 2017 年報至今，陳先生創辦忠天信貸有限公司並出任董事。該公司負責為機構客戶和企業股東，尤其是上市企業股東，提供各類財務信貸服務。自二零一三年至二零一五年，陳先生亦出任香港忠天集團董事局主席兼執行董事，自二零一三年以來出任中新能源集團總裁兼執行董事，負責基金管理，包括新能源產業基金及證券投資基金。此外，自二零一三年至二零一五年，陳先生亦於中國設立基金管理公司及產業併購基金。 ，47歲，於二零一七年四月二十六日獲委任為本公司執行董事。彼於財務及會計方面擁有逾20年經驗。自二零一四年一月起，彼為豐碩投資管理有限公司的董事，該公司主要從事基金管理業務。於一九九四年二月，彼從加拿大達爾豪西大學(Dalhousie University)畢業，並取得商業學士學位。劉先生為聯旺集團控股有限公司（股份代號：8217）的獨立非執行董事。 ，71歲，於二零一七年四月二十八日獲委任為本公司執行董事。彼於銀行及金融業擁有逾30年經驗。彼於一九九九年九月至二零零二年七月期間為世紀建業（集團）有限公司（股份代號：79）主席，以及於一九九三年至一九九五年期間為香港建屋貸款有限公司（股份代號：145）董事、於二零一一年四月至二零一二年六月期間為華保亞洲發展有限公司（股份代號：810）獨立非執行董事、於二零零四年五月至二零一五年六月期間為國美電器控股有限公司（股份代號：493）獨立非執行董事及於二零一零年五月至二零一六年一月期間為意馬國際控股有限公司（股份代號：585）獨立非執行董事。陳先生現為四洲集團有限公司（股份代號：374）獨立非執行董事。所有此等六家公司均於香港聯

合交易所有限公司（「聯交所」）上市。彼曾為

本地一間銀行之高級總經理及深圳一間中外

合資銀行之執行董事。

2013 to date, Mr. Chan founded TIEN Credit Limited and is a director. This company provides different financial credit services to institutional clients and corporate shareholders, especially to listed corporate shareholders. From 2013 to 2015, Mr. Chan was also the chairman of the board and executive director of Hong Kong TIEN G roup and the president and executive director of China New Energy Group Holdings Limited since 2013, responsible for fund management, including new energy industry fund and securities investment fund. Moreover, from 2013 to 2015, Mr. Chan had also set up fund management company and industrial merger and acquisition fund in China.

Mr. Liu Yan Chee, James , aged 47, was appointed as an executive director of the Company on 26 April 2017. He has over 20 years of experience in finance and accounting. Since January 2014, he has been a director of Special Fine Investment and Management Ltd, a company principally engaged in fund management business. In February 1994, he graduated from Dalhousie University in Canada with a Bachelor of Commerce. Mr. Liu is an independent non-executive director of Luen Wong Group Holdings Limited (Stock Code: 8217).

Mr. Chan Yuk Sang , aged 71, was appointed as an executive director of the Company on 28 April 2017. He has more than 30 years of experience in the banking and finance industry. He was the chairman of Century Legend (Holdings) Limited (Stock Code: 79) from September 1999 to July 2002 and a director of Hong Kong Building & Loan Agency Limited (Stock Code: 145) from 1993 to 1995, an independent non-executive director of Opes Asia Development Ltd (Stock Code: 810) from April 2011 to June 2012, an independent non-executive director of G OME Electrical Appliances Holding Ltd (Stock Code: 493) since May 2004 to June 2015, an independent non-executive director of Imagi International Holdings Limited (Stock Code: 585) since May 2010 to January 2016. Mr. Chan is currently an independent non-executive director of Four Seas Mercantile Holdings Limited (Stock Code: 374). All of these six companies are listed on The Stock Exchange of Hong Kong Limited (the “Stock Exchange”). He was a senior general manager of a local bank and an executive director of a joint Chinese foreign bank in Shenzhen.

亚洲资源 二零一七年年报

BIOGRAPHICAL DETAILS OF DIRECTORS 董事履歷

Asia Resources Holdings Limited | 亞洲資源控股有限公司

，63歲，於二零零八年十二月十六日獲委任為本公司獨立非執行董事。張先生亦為本公司薪酬委員會主席，以及審核委員會及提名委員會各自之成員。張先生現任中華基金投資管理有限公司董事。張先生畢業於華中科技大學，取得工商管理碩士學位及管理學博士學位，現為中國註冊會計師及高級會計師。於一九七四年至二零零七年期間，彼曾任中國航空（集團）有限公司及中國民用航空局多個高級管理職位。此外，張先生曾任中航興業有限公司總經理、港龍航空有限公司執行董事、澳門航空股份有限公司監事會主席，以及中國國際航空股份有限公司（股份代號：753，一間於香港聯交所上市之公司）監事會主席。

張先生亦於一九九七年八月至二零零五年五月期間擔任國泰航空有限公司（股份代號：293，一間於香港聯交所上市之公司）之非執行董事。張先生於企業融資及投資管理方面擁有逾35年之豐富經驗。

，64歲，於二零一一年十一月八日獲委任為本公司獨立非執行董事。郭先生亦為本公司提名委員會主席，以及審核委員會及薪酬委員會各自之成員。郭先生為律師兼國際公證人，並為郭匡義律師行之獨資經營者，擁有擔任香港高等法院律師之豐富先前工作經驗。彼獲中華人民共和國北京大學頒發民法法學學士學位(LLB)及法律碩士學位(LLM)。郭先生於一九九四年十二月至一九九五年三月期間獲委任為暫委裁判官，並於一九九八年七月獲委任為小額錢債審裁處暫委審裁官，彼亦為小組仲裁員。彼亦為香港律師會、英國律師會、新加坡律師會之會員，並為香港國際公證人協會之理事會成員。郭先生亦為中國委託公證人。

郭先生自二零零五年八月起至二零一二年八月期間為中國基建投資有限公司（股份代號：600，一間於香港聯合交易所有限公司上市之公司）之獨立非執行董事。

INDEPENDENT NON-EXECUTIVE DIRECTORS Mr. Zhang Xianlin, aged 63, was appointed as an independent non-executive director of the Company on 16 December 2008. Mr. Zhang is also the chairman of Remuneration Committee, and members of each of Audit Committee and Nomination Committee of the Company. Currently, Mr. Zhang is the director of Chinese Fund Investment Management Limited.

Mr. Zhang graduated from Huazhong University of Science and Technology with a Master Degree in Business Administration and a Doctor Degree in Management. He is a Chinese certified public accountant and senior accountant. During the period from 1974 to 2007, he served in the senior management positions in China National Aviation Corporation (G roup) Limited and the Civil Aviation Administration of China. Besides, Mr. Zhang was a general manager in China National Aviation Company Limited, an executive director in Hong Kong Dragon Airlines Limited, the chairman of the Board of Supervisors in Air Macau Company Limited and the chairman of the Board of Supervisors in Air China Limited (stock code: 753), a company listed on The Stock Exchange of Hong Kong.

Mr. Zhang was also a non-executive director of Cathy Pacific Airways Limited (stock code: 293), a company listed on The Stock Exchange of Hong Kong, during the period from August 1997 to May 2005. Mr. Zhang has over 35 years of extensive experience in enterprise finance and investment management.

Mr. Kwok Hong Yee, Jesse, aged 64, was appointed as an independent non-executive director of the Company on 8 November 2011. Mr. Kwok is also the chairman of the nomination committee, and members of each of the audit committee and remuneration committee of the Company. Mr.

Kwok is a solicitor and notary public and is the sole proprietor of Messrs.

Jesse H.Y. Kwok & Co. with substantial previous working experiences acting as solicitor of the Supreme Court of Hong Kong. He obtained his degrees of Bachelor of Laws (LLB) and Master of Laws (LLM) in Civil Laws from the Peking University in the People’s Republic of China. Mr. Kwok was appointed as a Temporary Magistrate between December 1994 and March 1995, and a Temporary Adjudicator of the Small Claims Tribunal in July 1998. He is also a Panel Arbitrator. He is also a member of the Law Society of Hong Kong, the Law Society of United Kingdom, Singapore Academy of Law and is the Counsel Member of the Hong Kong Society of Notaries.

Mr. Kwok is also a China Appointed Attesting Officer.

Mr. Kwok was an independent non-executive director of China Infrastructure Investment Limited (stock code: 600), a company listed on The Stock Exchange of Hong Kong Limited, during the period from August 2005 to August 2012.

6

亚洲资源 二零一七年年报

7BIOGRAPHICAL DETAILS OF DIRECTORS 董事履歷

Annual Report 2017 年報 ，49歲，於二零一六年十月一日獲委任為本公司獨立非執行董事、審核委員會主席及本公司提名委員會及薪酬委員會各自之成員。彼持有英國赫瑞瓦特大學工商管理碩士學位，並為香港會計師公會資深會員、英國特許公認會計師公會資深會員、香港特許秘書公會會員、英國特許秘書及行政人員公會會員及香港稅務學會資深會員。彼亦為香港註冊稅務師。伍先生現為嘉信會計師事務所有限公司主事人。彼曾於香港的國際會計師行擔任稅務經理及高級稅務經理超過十年。彼於香港、中華人民共和國（「中國」）及國際稅務、公司架構、策劃諮詢服務及會計服務方面擁有豐富經驗，並專責就於中國擁有生產及分銷業務的香港製造商和計劃於中國展開及建立業務的外國投資者通常遇到的中國企業及個人所得稅、增值稅、關稅及轉讓定價以及其他規管或實際問題提供意見。彼亦持有在中國深圳前海執業的稅務師專業資格。

Mr. Ng Ping Yiu , aged 49, was appointed as an independent non-executive director, the chairman of the audit committee, and members of each of the nomination committee and remuneration committee of the Company on 1 October 2016. He holds a Master of Business Administration degree from the University of Heriott Watt of United Kingdom and is a fellow of the Hong Kong Institute of Certified Public Accountants, a fellow of the Association of Chartered Certified Accountants, a member of the Hong Kong Institute of Chartered Secretaries, a member of Institute of Chartered Secretaries and Administrators and also a fellow of the Taxation Institute of Hong Kong. He is also a certified tax adviser in Hong Kong.

Mr. Ng is currently the principal of GDT CPA Limited. He served as tax manager and senior tax manager of international accounting firms in Hong Kong for over 10 years. He has substantial working experience in Hong Kong, the People’s Republic of China (the “PRC”) and international tax, corporate structuring, planning advisory services and accounting services and specializes in providing advices on PRC corporate and individual income taxes, VAT, customs duty, transfer pricing, and other regulatory or practical issues normally encountered by Hong Kong manufacturers with production and distribution operations in the PRC, and by foreign investors planning and setting up operations in the PRC. He also holds qualification to practice PRC Tax in Qianhai, Shenzhen, the PRC.

亚洲资源 二零一七年年报

8CORPORATE GOVERNANCE REPORT 企業管治報告

Asia Resources Holdings Limited | 亞洲資源控股有限公司CORPORATE GOVERNANCE PRACTICES

The Company recognizes the importance of maintaining a high standard of corporate governance with an aim to protect the interest of shareholders.The Company has adopted the Corporate Governance Code contained in Appendix 14 (the “Code”) of the Listing Rules. During the year ended 31 March 2017, the Company complied with all applicable provisions of the Code except for the deviation as stated below:Code Provision A.1.3

Under Code provision A.1.3, notice of at least 14 days should be given of a regular Board meeting to give all directors an opportunity to attend. For all other Board meetings, reasonable notice should be given. Due to the practical reasons, 14 days’ advanced notifications have not been given to all meetings of the Board. Reasons have been given in the notifications in respect of those meetings of the Board where it is not practical to give 14 days’ advanced notification. The Board will use its best endeavours to give 14 days’ advanced notifications of Board meeting to the extent practicable.Code Provision A.2.1

Under Code provision A.2.1, the roles of chairman and chief executive officer (“CEO”) should be separate and should not be performed by the same individual. The division of responsibilities between the chairman and CEO of the Company should be clearly established and set out in writing. During the year, the roles of the chairman and the CEO of the Company were not separated and were performed by Mr. Wu Hongquan until his resignation with effect from 28 April 2017.Code Provision A.6.7

Under Code provision A.6.7, independent non-executive directors and other non-executive directors, as equal board members, should give the board and any committees on which they serve the benefit of their skills, expertise and varied backgrounds and qualifications through regular attendance and active participation. They should also attend general meetings and develop a balanced understanding of the views of shareholders. Due to other business engagement, an independent non-executive director was unable to attend the annual general meeting of the Company held on 7 September 2016. 本公司深知維持高水平企業管治之重要性，藉以保障股東之利益。本公司已採納上市規則附錄14所載之企業管治守則（「該守則」）。於截至二零一七年三月三十一日止年度內，本公司已遵守該守則之所有適用條文，惟下文所述之偏離情況除外： A.1.3 根據守則條文第A.1.3條，召開董事會定期會議應發出至少14天通知，以讓所有成員皆有機會騰空出席。至於召開所有其他董事會會議，應發出合理通知。基於實際理由，未能就所有董事會會議給予14天之提前通知。在14天之提前通知並不可行之情況下，已於有關董事會會議通知提供理由。董事會將竭盡所能就董事會會議給予14天提前通知。 A.2.1 根據守則條文第A.2.1條，主席與行政總裁（「行政總裁」）之角色應有區分，並不應由一人同時兼任。本公司主席與行政總裁之間職責之分工應清楚界定並以書面列載。年內，本公司之主席及行政總裁之角色未予以區分並由吳宏權先生同時擔任，直至彼辭任（自二零一七年四月二十八日起生效）。 A.6.7 根據守則條文第A.6.7條，獨立非執行董事及其他非執行董事作為與其他董事擁有同等地位之董事會成員，應定期出席董事會及由彼等擔任委員會成員之委員會會議並積極參與會務，以彼等之技能、專業知識及不同背景及資歴作出貢獻。彼等並應出席股東大會，對股東意見有公正瞭解。一名獨立非執行董事因有其他公務在身而無法出席於二零一六年九月七日舉行之本公司股東週年大會。

亚洲资源 二零一七年年报

9CORPORATE GOVERNANCE REPORT 企業管治報告

Annual Report 2017 年報 董事會負責領導及監控本公司，並負責監管本集團之業務策略方針及表現。 於本報告日期，董事會由四名執行董事黃逸林先生、陳詩賢先生、劉恩賜先生及陳玉生先生；以及三名獨立非執行董事張憲林先生、郭匡義先生及伍炳耀先生組成。本公司之獨立非執行董事為於會計範疇上擁有學術及專業資歷，並為具適當專業知識之人士。彼等對董事會有效履行其職責及責任上提供強大支持。各獨立非執行董事就其獨立性每年向本公司作出確認，本公司認為，該等董事根據上市規則第3.13條乃屬獨立人士。 本公司已採納董事會成員多元化政策（「董事會成員多元化政策」）。本公司明白並深信董事會成員多元化對提升公司表現素質裨益良多，並且是支援本集團達到戰略目標及維持可持續發展之必要因素。董事會所有委任均以用人唯才為原則，並充分考慮董事會之利益及成員多元化方面保持平衡。權衡董事會多元化時計及之因素包括（其中包括）性別、年齡、專業經驗及資格、教育及文化背景，以及提名委員會不時認為有助於補充及延展董事會技能、知識及經驗之任何其他相關及適用因素。

THE BOARD

The Board is responsible for the leadership and control of the Company and oversees the Group’s business strategic decisions and performances.Board Composition

As at the date of this report, the Board comprises four Executive Directors, Mr. Huang Yilin, Mr. Chan Shi Yin, Keith, Mr. Liu Yan Chee, James and Mr. Chan Yuk Sang; and three Independent Non-executive Directors, Mr. Zhang Xianlin, Mr. Kwok Hong Yee, Jesse and Mr. Ng Ping Yiu.

The Independent Non-executive Directors of the Company are persons with academic and professional qualifications in the fields of accounting and appropriate expertise. They provide strong support towards the effective discharge of the duties and responsibilities of the Board. Each Independent Non-executive Director gives an annual confirmation of his independence to the Company and the Company considers these directors to be independent under Rule 3.13 of the Listing Rules.

Board Diversity Policy

The Company has adopted the board diversity policy (the “Board Diversity Policy”). The Company recognizes and embraces the benefits of having a diverse Board to enhance the quality of its performance and as an essential element in maintaining strategic objectives and sustainable development of the Group. All appointment of the Board members will be based on merits against objective criteria and with due regards for benefits and balance of diversity on the Board. The Board diversity will be considered in terms of, among other things, gender, age, professional experience and qualifications and educational and cultural background, and any other factors that the Nomination Committee may consider relevant and applicable from time to time towards complementing and extending the skills, know-how and experience of the Board.

亚洲资源 二零一七年年报

CORPORATE GOVERNANCE REPORT 企業管治報告

Asia Resources Holdings Limited | 亞洲資源控股有限公司

各董事於截至二零一七年三月三十一日止年度董事會會議及本公司股東大會出席記錄詳情如下：

Meetings

Details of Directors’ attendance records at the Board meetings and general

meetings of the Company during the year ended 31 March 2017 are set out

below:

Meetings Attended/Held

AGM Board

Executive Directors

Mr. Huang Yilin黃逸林先生1/19/9 Mr. Chan Shi Yin, Keith陳詩賢先生1/19/9

Mr. Liu Yan Chee, James (appointed on 26 April 2017)劉恩賜先生

（於二零一七年四月二十六日獲委任）0/00/0

Mr. Chan Yuk Sang (appointed on 28 April 2017)陳玉生先生

（於二零一七年四月二十八日獲委任）0/00/0

Mr. Wu Hongquan

(resigned with effect from 28 April 2017)吳宏權先生（已辭任，

自二零一七年四月二十八日起生效）0/19/9

Ms. Li Yali

(resigned with effect from 28 April 2017)李亞利女士（已辭任，

自二零一七年四月二十八日起生效）0/17/9

Mr. Zhang Zhensheng

(resigned with effect from 28 April 2017)張振生先生（已辭任，

自二零一七年四月二十八日起生效）0/14/9

Independent Non-executive Directors

Mr. Zhang Xianlin張憲林先生1/16/9 Mr. Kwok Hong Yee, Jesse郭匡義先生1/19/9

Mr. Ng Ping Yiu (appointed on 1 October 2016)伍炳耀先生

（於二零一六年十月一日獲委任）0/03/4

Mr. Ho Chun Kit, Gregory

(resigned with effect from 1 October 2016)何俊傑先生（已辭任，

自二零一六年十月一日起生效）0/12/5

Apart from regular board meetings of the year, the Board of Directors will meet on other occasions when a board level decision on a particular matter is required. The Directors receive details of agenda items for decision and minutes of committee meetings in advance of each board meeting. The Board of Directors has reserved for its decision or consideration matters covering corporate strategy, annual and interim results, Directors’ appointment, succession planning, risk management, major acquisitions, disposals and capital transactions, and other significant operational and financial matters. Major corporate matters that are specifically delegated by the Board of Directors to the management include the preparation of annual and interim accounts for board approval before public reporting, execution of business strategies and initiatives adopted by the Board of Directors, implementation of adequate systems of internal controls and risk management procedures, and compliance with relevant statutory requirements, rules and regulations.除本年度之董事會定期會議外，董事會將於須就特定事項作出董事會層面之決定之其他情況下舉行會議。董事於每次董事會會議前均已收取以供其作決定之議程項目詳情及委員會會議記錄。董事會保留其對涵蓋企業策略、全年及中期業績、董事委任、繼任計劃、風險管理、重大收購事項、出售事項及股本交易之事宜，以及其他重大營運及財務事宜之決策及審議權。董事會明確委託予管理層之主要企業事宜包括編製全年及中期賬目以於公開報告前供董事會批准、執行董事會採納之業務策略及新方案、實施充份之內部監控及風險管理程序，以及遵守相關法例規定、規則及規例。

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亚洲资源 二零一七年年报

11CORPORATE GOVERNANCE REPORT 企業管治報告

Annual Report 2017 年報 根據守則條文第A.2.1條，本集團主席與行政總裁之角色應予區分，不應由一人同時兼任。本集團主席與行政總裁之間職責之分工應清楚界定並以書面列載。本集團之主席及行政總裁之角色未予以區分並由同一人士同時擔任，截至二零一七年三月三十一日止年度由吳宏權先生同時擔任主席兼行政總裁。其後，吳宏權先生已辭任執行董事及董事會主席之職位（自二零一七年四月二十八日起生效），而董事會主席仍尚未委任。本公司將尋找合適人選填補主席空缺。董事定期召開會議，以考慮影響本集團營運之主要事項。因此，董事認為，此架構不會損害董事與本集團管理層之間之權力及權限平衡，並相信此架構將可令本集團迅速及有效率地作出及落實決定。 全體獨立非執行董事均委以三年為任期。此外，全體董事須根據本公司之公司細則於股東週年大會上輪值退任及膺選連任。根據本公司之公司細則，獲董事會委任以填補臨時空缺之任何董事，任期須至其獲委任後之首屆股東大會為止，並須於該大會上膺選連任；而獲董事會委任作為現有董事會新增成員之任何董事，任期須至本公司下屆股東週年大會為止，屆時符合資格膺選連任。 本公司持續鼓勵董事了解最新之法例及監管發展以及業務及市場變動，以促進彼等履行其責任。根據該守則，全體董事均須向本公司提供彼等各自之培訓記錄。

CHAIRMAN AND CHIEF EXECUTIVE OFFICER Under Code provision A.2.1, the roles of chairman and CEO of the Group should be separate and should not be performed by the same individual. The division of responsibilities between the chairman and CEO of the Group should be clearly established and set out in writing. The roles of the chairman and the CEO of the Group was not separated and was performed by the same individual, Mr. Wu Hongquan throughout the year ended 31 March 2017. Subsequently, Mr. Wu Hongquan has resigned as executive director and chairman of the board with effect from 28 April 2017, there remains the outstanding appointment of chairman of the Board. The Company will look for a suitable candidate to fill the vacancy of chairman.The Directors meet regularly to consider major matters affecting the operations of the Group. As such, the Directors consider that this structure will not impair the balance of power and authority between the Directors and the management of Group and believes that this structure will enable the Group to make and implement decisions promptly and efficiently.APPOINTMENT AND RE-ELECTION OF DIRECTORS

All the Independent Non-executive Directors are appointed for terms of three years. In addition, all Directors are subject to retirement by rotation and re-election at the Annual General Meeting pursuant to the Bye-laws of the Company.

According to the Company’s Bye-laws, any Director appointed by the Board to fill a casual vacancy shall hold office until the first general meeting of Members after his appointment and be subject to re-election at such meeting; and any Director appointed by the Board as an addition to the existing Board shall hold office only until the next following Annual General Meeting of the Company and shall then be eligible for re-election.CONTINUOUS PROFESSIONAL DEVELOPMENT OF THE DIRECTORS

The Directors are continually encouraged to update themselves with legal and regulatory developments, and the business and market changes to facilitate the discharge of their responsibilities.

All Directors are requested to provide the Company with their respective training records pursuant to the Code.

亚洲资源 二零一七年年报

CORPORATE GOVERNANCE REPORT 企業管治報告

Asia Resources Holdings Limited | 亞洲資源控股有限公司

本公司已採納上市規則附錄十所載之上市發行人董事進行證券交易之標準守則（「標準守則」）。經向全體董事作出具體查詢後，董事確認彼等於截至二零一七年三月三十一日止整個年度已遵守標準守則所載列之規定標準。年內，董事已確認，以下為彼等透過出席研討會或自行閱讀而參加適當持續專業發展活動：

During the year, the Directors have confirmed their participation in

appropriate continuous professional development activities by ways of

attending seminars or self-reading set out below:

Attending seminars Self-reading

Executive Directors

Mr. Huang Yilin黃逸林先生–?Mr. Chan Shi Yin, Keith陳詩賢先生–?

Mr. Liu Yan Chee, James (appointed on 26 April 2017)劉恩賜先生

（於二零一七年四月二十六日獲委任）

N/A

不適用

N/A

不適用

Mr. Chan Yuk Sang (appointed on 28 April 2017)陳玉生先生

（於二零一七年四月二十八日獲委任）

N/A

不適用

N/A

不適用

Mr. Wu Hongquan

(resigned with effect from 28 April 2017)吳宏權先生（已辭任，

自二零一七年四月二十八日起生效）–?

Ms. Li Yali

(resigned with effect from 28 April 2017)李亞利女士（已辭任，

自二零一七年四月二十八日起生效）–?

Mr. Zhang Zhensheng

(resigned with effect from 28 April 2017)張振生先生（已辭任，

自二零一七年四月二十八日起生效）–?

Independent Non-executive Directors

Mr. Zhang Xianlin張憲林先生??Mr. Kwok Hong Yee, Jesse郭匡義先生??

Mr. Ng Ping Yiu (appointed on 1 October 2016)伍炳耀先生

（於二零一六年十月一日獲委任）??

Mr. Ho Chun Kit, Gregory

(resigned with effect from 1 October 2016)何俊傑先生（已辭任，

自二零一六年十月一日起生效）

N/A

不適用

N/A

不適用

DIRECTORS’ SECURITIES TRANSACTIONS

The Company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers (the “Model Code”) as set out in Appendix 10 to the Listing Rules. Having made specific enquiry of all directors, Directors confirmed that they had complied with the required standard set out in the Model Code throughout the year ended 31 March 2017.

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亚洲资源 二零一七年年报

13CORPORATE GOVERNANCE REPORT 企業管治報告

Annual Report 2017 年報

本公司提名委員會由三名獨立非執行董事及一名執行董事組成，現時由郭匡義先生擔任主席。提名委員會之主要職責包括檢討董事會架構、規模及組成、物色具備合適資格可成為董事會成員之人士、評估獨立非執行董事之獨立性、就委任或重新委任董事之相關事宜向董事會提供推薦意見及檢討董事會成員多元化政策。

於截至二零一七年三月三十一日止年度，提名委員會已舉行兩(2)次會議。各提名委員會成員於本年度會議出席記錄如下：

NOMINATION COMMITTEE The Nomination Committee of the Company currently comprises three Independent Non-executive Directors and one Executive Director, and is currently chaired by Mr. Kwok Hong Yee, Jesse. Its primary duties include reviewing the structure, size and composition of the Board, identifying individuals suitably qualified to become Board members, assessing the independence of Independent Non-executive Directors and making recommendations to the Board on relevant matters relating to the appointment or re-appointment of Directors, and reviewing the Board Diversity Policy etc.

The Nomination Committee held two (2) meetings during the year ended 31 March 2017. The attendance of each member of the Nomination Committee at the meetings during the year is set out below:COMMITTEE MEMBERS Meetings

Attended/Held

Mr. Kwok Hong Yee, Jesse (Chairman)郭匡義先生（主席）2/2Mr. Zhang Xianlin 張憲林先生2/2Mr. Chan Shi Yin, Keith 陳詩賢先生2/2Mr. Ng Ping Yiu (appointed on 1 October 2016)伍炳耀先生（於二零一六年十月一日獲委任）0/0Mr. Ho Chun Kit, Gregory (resigned with effect from 1 October 2016)何俊傑先生

（已辭任，自二零一六年十月一日起生效）1/2During the year, the Nomination Committee has reviewed the structure and composition of the Board; discussed the causal vacancies for the resigned Directors; assessed the independence of Independent Non-executive Directors and made recommendations on the appointment and re-appointment of Directors.

年內，提名委員會已審閱董事會之架構及組成、討論離任董事之空缺安排、評估獨立非執行董事之獨立性及就委任及重新委任董事提供建議。

亚洲资源 二零一七年年报

CORPORATE GOVERNANCE REPORT 企業管治報告

Asia Resources Holdings Limited | 亞洲資源控股有限公司

本公司之薪酬委員會現時包括三名獨立非執行董事及一名執行董事，現時由張憲林先生擔任主席。薪酬委員會之主要職責包括就有關本公司所有董事及高級管理人員薪酬之政策及架構向董事會作出建議；檢討執行董事及高級管理人員之薪酬待遇並就彼等之薪金、花紅（包括獎金）作出建議；及確保概無董事或其任何聯繫人士參與釐定其本身薪酬。

薪酬委員會於截至二零一七年三月三十一日止年度內舉行兩(2)次會議。各薪酬委員會成員於本年度會議出席記錄如下：

REMUNERATION COMMITTEE

The Remuneration Committee of the Company currently comprises three Independent Non-executive Directors and one Executive Director, and is currently chaired by Mr. Zhang Xianlin. Its primary duties include making recommendations to the Board on the Company’s policy and structure for all remuneration of Directors and senior management, reviewing the remuneration package and recommending salaries, bonuses, including the incentive awards for Executive Directors and senior management, and ensuring no Director or any of his associates is involved in deciding his own remuneration etc.

The Remuneration Committee held two (2) meetings during the year ended 31 March 2017. The attendance of each member of the Remuneration Committee at the meetings during the year is set out below:

COMMITTEE MEMBERS

Meetings Attended/Held

Mr. Zhang Xianlin (Chairman)張憲林先生（主席）2/2 Mr. Kwok Hong Yee, Jesse郭匡義先生2/2 Mr. Chan Shi Yin, Keith陳詩賢先生2/2 Mr. Ng Ping Yiu (Appointed on 1 October 2016)伍炳耀先生（於二零一六年十月一日獲委任）0/0

Mr. Ho Chun Kit, Gregory

(Resigned with effect from 1 October 2016)何俊傑先生

（已辭任，自二零一六年十月一日起生效）1/2

During the year, the Remuneration Committee has considered and reviewed the existing terms of the appointment letters of the Directors with reference to the factors including salaries paid by comparable companies, time commitment and responsibilities of the Directors, employment conditions elsewhere in the Company and desirability of performance-based remuneration. The Remuneration Committee considers that the existing terms of the appointment letters of the Executive and Independent Non-executive Directors are fair and reasonable. Details of the remuneration policy of the Directors are set out on page 40 of this report.年內，薪酬委員會已參考包括可資比較公司所支付之薪金、董事付出之時間及職責、本公司其他職位之僱傭條件及應否按表現釐定薪酬等因素，考慮及檢討董事委任函之現有條款。薪酬委員會認為，執行及獨立非執行董事委任函之現有條款屬公平合理。董事之薪酬政策詳情載於本報告第40頁。

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亚洲资源 二零一七年年报

15CORPORATE GOVERNANCE REPORT 企業管治報告

Annual Report 2017 年報

本公司之審核委員會現時包括三名獨立非執行董事。年內，由何俊傑先生擔任主席直至其辭任（自二零一六年十月一日起生效），其後，伍炳耀先生於二零一六年十月一日擔任主席。審核委員會之主要職責為審閱及監督本集團之財務申報程序、風險管理及內部監

控制度等。

審核委員會於截至二零一七年三月三十一日止年度內舉行兩(2)次會議。各審核委員會成員於本年度會議出席記錄如下：

AUDIT COMMITTEE The Audit Committee of the Company currently comprises three Independent Non-executive Directors. During the year, Mr. Ho Chun Kit, Gregory was the chairman until his resignation with effect from 1 October 2016, and is subsequently chaired by Mr. Ng Ping Yiu on 1 October 2016. Its primary duties are to review and supervise the financial reporting system, risk management and internal control system of the Group etc.The Audit Committee held two (2) meetings during the year ended 31 March 2017. The attendance of each member of the Audit Committee at the meetings during the year is set out below:COMMITTEE MEMBERS Meetings

Attended/Held

Mr. Ng Ping Yiu (Chairman) (Appointed on 1 October 2016)伍炳耀先生（主席）

（於二零一六年十月一日獲委任）1/1Mr. Zhang Xianlin 張憲林先生2/2Mr. Kwok Hong Yee, Jesse 郭匡義先生2/2Mr. Ho Chun Kit, Gregory (Resigned with effect from 1 October 2016)何俊傑先生

（已辭任，自二零一六年十月一日起生效）1/1During the year, the Audit Committee has reviewed with management the accounting standards and practices adopted by the Group, and discussed auditing, internal control, risk management and financial reporting matters including the Group’s audited financial statements of the G roup for the year ended 31 March 2016 and the unaudited financial statements for the six months ended 30 September 2016 respectively, In June 2017, the Audit Committee reviewed the G roup’s audited financial statements for the year ended 31 March 2017 prior to recommending them to the Board for approval.年內，審核委員會已與管理層審閱本集團採納之會計準則及慣例，並就審核、內部監控、風險管理及財務申報事宜（分別包括本集團截至二零一六年三月三十一日止年度之經審核財務報表及截至二零一六年九月三十日止六個月之未經審核財務報表）進行討論。於二零一七年六月，審核委員會審閱本集團截至二零一七年三月三十一日止年度之經審核財務報表後，方向董事會提出建議供彼等審

批。

亚洲资源 二零一七年年报

CORPORATE GOVERNANCE REPORT 企業管治報告

Asia Resources Holdings Limited | 亞洲資源控股有限公司

於所回顧之截至二零一七年三月三十一日止年度內，已付本公司核數師國衛會計師事務所有限公司之酬金載列如下：

AUDITORS’ REMUNERATION

During the year ended 31 March 2017 under review, the remuneration paid

to the Company’s auditors, Messrs. HLB Hodgson Impey Cheng Limited, is

set out as follows:

Services rendered Fees paid/payable

HK$’000 Audit services核數服務900 Non-Audit services (Note)非核數服務（附註）191

Note:The Audit Committee is of the view that the auditors independence was not affected by the provision of these non-audit related services during the year ended 31 March 2017.

ACCOUNTABILITY AND AUDIT

The Directors acknowledge their responsibility to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the G roup. In preparing the accounts for the year ended 31 March 2017, the Directors have adopted suitable accounting policies which are pertinent to its operations and relevant to the financial statements, made judgements and estimates that are prudent and reasonable, and have prepared the accounts on the going concern basis. RISK MANAGEMENT AND INTERNAL CONTROL

The Board is responsible for overseeing the Company’s risk management and internal control systems. To facilitate the effectiveness and efficiency of operations and to ensure compliance with relevant laws and regulations, the G roup emphasizes on the importance of a sound risk management and internal control systems which are also indispensable for mitigating the Group’s risk exposures. The Group’s risk management and internal control systems are designed to provide reasonable, but not absolute, assurance against material misstatement or loss and to manage and eliminate risks of failure in operational systems and fulfillment of the business objectives. The risk management and internal control system are reviewed on an ongoing basis by the Board in order to make it practical and effective in providing reasonable assurance in relation to protection of material assets and identification of business risks. The Board is satisfied that, based on information furnished to it and on its own observations, the present risk management and internal controls of the Group are satisfactory.附註：審核委員會認為，於截至二零一七年三月三十一日止年度內核數師之獨立性並未因所提供之該等

非核數相關服務而受影響。

董事確認彼等須負責編製各財政年度之財務報表，以真實及公平地反映本集團之財政狀況。於編製截至二零一七年三月三十一日止年度之賬目時，董事已採用與本集團業務及財務報表有關之合適會計政策，作出審慎及合理之判斷及估計，並已按持續經營基準編製賬目。

董事會負責監管本公司之風險管理及內部監控制度。為推動營運效益及效率，以及確保符合相關法律及規例，本集團強調良好風險管理及內部監控制度之重要性，此亦為減低本集團風險不可或缺之元素。本集團之風險管理及內部監控制度乃為確保無重大錯誤陳述或損失提供合理但並非絕對保證，並管理及消除營運制度失誤之風險以及履行業務宗旨而設。

風險管理及內部監控制度乃由董事會持續進行檢討，使該制度實際上可行及有效合理保障重要資產及識別業務風險。董事會根據向其提供之資料及本身之觀察，對本集團目前之風險管理及內部監控感到滿意。

16

亚洲资源 二零一七年年报

17CORPORATE GOVERNANCE REPORT 企業管治報告

Annual Report 2017 年報本集團致力識別、監控及管理與其業務活動有關之風險，並已實施一項實際可行及有效之監控制度，包括清晰界定權限之管理結構、良好之現金管理制度，以及由審核委員會及董事會定期對本集團之業績進行檢討。於回顧年度內，董事會已委聘一間外部專業公司，就截至二零一七年三月三十一日止年度之風險管理及內部監控制度進行年度檢討。檢討涵蓋財務、營運及合規監控，以及於內部監控檢討報告內提供若干建議。所有建議均獲本集團妥善跟進。因此，董事會認為風險管理及內部監控制度屬有效及充分。 於截至二零一七年三月三十一日止年度內，羅浩銘先生已接受不少於十五(15)小時之相關專業培訓以更新其技能及知識。 持有賦予於股東大會上投票權之本公司繳足股本不少於十分之一之股東可向董事會或本公司之秘書發出書面要求以要求召開股東特別大會（「股東特別大會」）。書面要求應遞交至本公司之主要營業地點，地址為香港皇后大道中183號中遠大廈43樓4312室，註明公司秘書收啟。書面要求必須列明決議案連同建議決議案內所提述之事項聲明，並經有關股東簽署。該要求將由本公司之股份登記處予以核實，並於其確認該要求屬適當及有序作出後，本公司將於遞交該要求後二十一(21)日內召開股東特別大會。實際股東特別大會將於遞交書面要求後兩(2)個月內舉行。

The Group is committed to the identification, monitoring and management of risks associated with its business activities and has implemented a practical and effective control system which includes a defined management structure with limits of authority, a sound cash management system and periodic review of the Group’s performance by the Audit Committee and the Board.

During the year under review, the Board has engaged an external professional firm to conduct the annual review of the risk management and internal control systems for the year ended 31 March 2017. The review has covered financial, operational and compliance control and some recommendations were provided in the internal control review report. All recommendations are properly followed up by the Group. Therefore, The Board considered that the risk management and internal control systems are effective and adequate.

COMPANY SECRETARY’S TRAINING

During the year ended 31 March 2017, Mr. Law Ho Ming has received no less than fifteen (15) hours of relevant professional training to refresh his skills and knowledge.

SHAREHOLDERS’ RIGHTS

Convening a Special General Meeting

Shareholders holding not less than one-tenth of the paid up capital of the Company carrying the right of voting at general meetings can send a written request to the Board or the Secretary of the Company to request a Special General Meeting (“SGM”).

The written request should be deposited at the principal place of business of the Company at Unit 4312, 43/F., COSCO Tower, 183 Queen’s Road Central, Hong Kong, for the attention of the Company Secretary. The written request must state the resolution(s), accompanied by a statement of the matters referred in the proposed resolution(s) and signed by the shareholders concerned.

The request will be verified with the Company’s share registrar and upon its confirmation that the request is proper and in order, the Company will convene a SGM within twenty-one (21) days of the deposit of the request. The actual SGM shall be held within two (2) months after the deposit of the written request.

亚洲资源 二零一七年年报

CORPORATE GOVERNANCE REPORT 企業管治報告

Asia Resources Holdings Limited | 亞洲資源控股有限公司

股東可向董事會或本公司之秘書寄發書面要求以於股東大會上提出建議。

書面要求必須列明決議案連同建議決議案內所提述之事項聲明，並經有關股東簽署。

書面要求應於股東大會日期前至少十四(14)個足日遞交至本公司之主要營業地點，地址為香港皇后大道中183號中遠大廈43樓4312室。

該要求將由本公司之股份登記處予以核實，並於其確認該要求屬適當及有序作出後，本公司秘書將請求董事會將建議決議案納入股東大會之議程內。

股東提名人士參選董事之程序可於本公司網頁查閱。

於截至二零一七年三月三十一日止年度內，本公司之憲章文件並無重大變動。

本公司透過本公司之年報及財務報表、中期報告以及股東週年大會（「股東週年大會」）披露相關資訊予股東。股東週年大會可讓各董事與股東見面及溝通。

為進一步推動有效之溝通，本公司設有公司網站，以透過電子渠道適時發放本公司之公佈及其他相關財務與非財務資訊。

Making Proposals at Shareholders’ Meeting

Shareholder can send a written request to the Board or the Secretary of the Company to make proposal(s) at a shareholders’ meeting.

The written request must state the resolution(s), accompanied by a statement of the matters referred in the proposed resolution(s) and signed by the shareholder concerned.

The written request should be deposited with the Company at its principal place of business at Unit 4312, 43/F., COSCO Tower, 183 Queen’s Road Central, Hong Kong, at least fourteen (14) clear days before the date of the shareholders’ meeting.

The request will be verified with the Company’s share registrar and upon its confirmation that the request is proper and in order, the Company Secretary will ask the Board to include the proposed resolution(s) in the agenda for the shareholders’ meeting.

Procedures for nomination of Directors for election

T h e p r o c e d u r e s f o r s h a r e h o l d e r s t o p r o p o s e a p e r s o n f o r election as a Director are available on the Company’s website at .

AMENDMENT TO CONSTITUTIONAL

DOCUMENT

During the year ended 31 March 2017, there were no significant changes to the Company’s constitutional document.

COMMUNICATION WITH SHAREHOLDERS

The Company discloses relevant information to shareholders through the Company’s annual report and financial statements, the interim report, as well as the Annual G eneral Meeting (“AG M”). The AG M allows the directors to meet and communicate with shareholders.

To further promote effective communication, the corporate website is maintained to disseminate Company announcements and other relevant financial and non-financial information electronically on a timely basis.

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亚洲资源 二零一七年年报

19BOARD OF DIRECTORS’ STATEMENT, MANAGEMENT DISCUSSION AND ANALYSIS 董事會總結與管理層討論及分析

Annual Report 2017 年報Dear Shareholders,

On behalf of the Board of Asia Resources Holdings Limited (the

“Company”) and its subsidiaries (collectively the “G roup”), I present

herewith to the shareholders of the Group the annual report and audited

consolidated results of the Group for the year ended 31 March 2017.

RESULTS OF THE YEAR

In the fiscal year ended 31 March 2017, the consolidated revenue, net,

contributed from continuing operations (mainly money lending) of the

Group amounted to approximately HK$6,651,000 (2016: HK$4,454,000).

Accordingly, the Group’s continuing operations reported a gross profit of

approximately HK$6,651,000 for the year (2016: HK$4,354,000).

The G roup recorded a loss attributable to the owners of the Company

amounted to approximately HK$92,794,000 for the year ended 31 March

2017 (2016: HK$76,205,000). The increase in loss was mainly due to (i)

the decrease in other revenue from the other trading business; and (ii) the

increase in the loss sharing to the owners.

Basic and diluted loss per share from continuing and discontinued

operations for the year ended 31 March 2017 was HK$0.017 (2016: basic

and diluted loss per share, from continuing and discontinued operations of

HK$0.018).

BUSINESS REVIEW

During the year ended 31 March 2017, the net revenue had increased

approximately to 50% over last year. For Dalian Property, the first phase

is nearly completed and expected to recognise the revenue in the coming

years. The G roup disposed the non-profitable business and continued

to rationalize its cost structure, and focused its effort on property

development and property investment businesses in the PRC and money

lending business in Hong Kong. As such, the Group has further expanded

its property investment business in Beijing in February 2017.

Apart from the consolidating the existing operations, the Group has been

actively exploring opportunities to achieve further business diversification,

with an aim to broaden its revenue stream and earning base. The Group

had successfully completed two strategic acquisitions for bottled water

production and sales business in Quangxi and water mining business in

Hunan in April and June 2017 respectively. The Board is confident that the

operation of water business will contribute positively to the G roup. The

Directors are of the view that the two strategic acquisitions will maximize

the future contribution to the Group.各位股東：本人謹代表亞洲資源控股有限公司（「本公司」）及其附屬公司（統稱「本集團」）董事會謹此向本集團股東呈報本集團截至二零一七年三月三十一日止年度之年報及經審核綜合業績。 截至二零一七年三月三十一日止財政年度，綜合收入淨額來自本集團持續經營業務（主要為放債），約6,651,000港元（二零一六年：4,454,000港元）。因此，本集團的持續經營業務於本年度錄得毛利約6,651,000港元（二零一六年：4,354,000港元）。截至二零一七年三月三十一日止年度，本集團錄得本公司擁有人應佔虧損約92,794,000港元（二零一六年：76,205,000港元）。虧損增加主要由於(i)來自其他貿易業務的其他收入減少；及(ii)擁有人分佔虧損增加。截至二零一七年三月三十一日止年度，來自持續經營及已終止業務的每股基本及攤薄虧損為0.017港元（二零一六年：來自持續經營及已終止業務的每股基本及攤薄虧損為0.018港元）。 截至二零一七年三月三十一日止年度，收入淨額較去年增加約50%。大連物業之一期已接近完成，並預期將於未來年度確認收入。本集團出售盈利欠佳的業務及繼續理順其成本結構，並專注於中國物業發展及物業投資業務以及香港放債業務。因此，於二零一七年二月，本集團進一步擴展其北京物業投資業務。除整合現有業務營運外，本集團積極探尋進一步使業務多元化之機遇，以擴闊其收入來源及盈利基礎。本集團已於二零一七年四月及六月分別成功完成廣西瓶裝水生產及銷售業務以及湖南採水業務之兩項戰略收購。董事會有信心水業務之經營將為本集團帶來正面貢獻。董事認為，該兩項戰略收購將大大提高日後為本集團帶來之貢獻。

亚洲资源 二零一七年年报

BOARD OF DIRECTORS’ STATEMENT, MANAGEMENT DISCUSSION AND ANALYSIS

董事會總結與管理層討論及分析

Asia Resources Holdings Limited | 亞洲資源控股有限公司

本集團致力促進經營所在地區之環境及社區之長期可持續發展。作為負責任之企業，本集團遵守有關環保、健康及安全、工地狀況及僱傭之一切相關法律及法規，並採取有效措施達致資源有效利用、節約能源及減少廢物。

截至二零一七年三月三十一日止年度，本集團概無於所有重大方面嚴重違反任何相關法律及法規。

截至二零一七年三月三十一日止年度，本集團與其主要利益相關方（包括僱員、客戶、供應商、銀行、監管機構及股東）之間概無產生任何重大糾紛。本集團將繼續確保與各主要利益相關方保持有效溝通及良好關係。

大連物業

我們的中國間接全資附屬公司大連創和置地有限公司（「大連創和」）繼續於大連從事房地產業務，開發城市用地作住宅用途並計劃於該土地上開發55幢樓宇，其中第一期（「一期」）為21幢樓宇，第二期（「二期」）為34幢樓宇。

除若干公共範圍及其水電外，一期「心田佳苑」的建設工作已大致完成，預期將於二零一七年十月竣工。一期共有21幢樓宇，實用面積約為42,540平方米，包括四幢小高層、九幢洋房及八幢聯排別墅。總合約銷售額約為人民幣101,200,000元（其中已收到預售按金約人民幣88,710,000元），訂約總實用面積約為19,500平方米。

Environmental Policies and Performance

The Group is committed to the long term sustainability of the environment and communities in which it operates. As a responsible corporation, the G roup has complied with all relevant laws and regulations regarding environmental protection, health and safety, workplace conditions and employment and has adopted effective measures to achieve efficient use of resources, energy saving and waste reduction.

Compliance with Laws and Regulations

During the year ended 31 March 2017, there was no incident of significant non-compliance to any relevant laws and regulations in all material aspects for the Group.

Relationship with Suppliers, Customers and other Stakeholders

During the year ended 31 March 2017, there were no material and significant dispute between the Group and its key stakeholders, including employees, customers, suppliers, banks, regulators and Shareholders. The Group will continue to ensure effective communication and maintain good relationship with each of its key stakeholders.

MANAGEMENT DISCUSSION AND ANALYSIS

Property Business

Property Development

Dalian Properties

Our indirectly wholly owned China subsidiary, Dalian Chuanghe Landmark Co Ltd.(大連創和置地有限公司) (“Dalian Chuanghe”) continues engaging in the development of urban land for residential purpose in the real estate sector in Dalian and as planned to develop 55 buildings on the said land with 21 buildings in the first phase (“Phase I”) and 34 buildings in the second phase (“Phase ll”).

Phase l named “Xin Tian Jia Yuan” had almost completed the construction work except some public area and its utilities. It was expected to be completed in October 2017. There are 21 buildings established in Phase

I with a saleable area of approximately 42,540 square metres. including

4 eight-storey apartments (小高層), 9 garden villas (洋房) and 8 garden

houses (聯排別墅). The whole contracted sales achieved approximately RMB101,200,000 (of which pre-sale deposits of approximately RMB88,710,000 received), and the whole contracted gross saleable area of around 19,500 square metres.

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