[HK]华商国际海洋控股:二零二零年中期报告

时间:2020年09月21日 12:25:37 中财网
原标题:华商国际海洋控股:二零二零年中期报告


CONTENTS 目錄

Consolidated Statement of Profit or Loss – unaudited
Consolidated Statement of Profit or Loss and

Other Comprehensive Income – unaudited
Consolidated Statement of Financial Position – unaudited
Condensed Consolidated Statement of

Changes in Equity – unaudited
Condensed Consolidated Cash Flow Statement – unaudited
Notes to the Financial Statements – unaudited
Management Discussion and Analysis
Corporate Information

綜合損益表 – 未經審核
03
綜合損益及
其他全面收益表 – 未經審核
04
綜合財務狀況表 – 未經審核
05
簡明綜合
權益變動表 – 未經審核
07
簡明綜合現金流量表 – 未經審核
08
財務報表附註 – 未經審核
09
管理層討論及分析
22
公司資料
47



INTERIM RESULTS FOR THE SIX MONTHS ENDED
30 JUNE 2020

The board (the “Board”) of directors (the “Directors”) of CMIC Ocean
En-Tech Holding Co., Ltd. (the “Company” or “CMIC”) announces the
unaudited results of the Company and its subsidiaries (collectively the
“Group”) for the six months ended 30 June 2020, together with the
unaudited comparative figures for the corresponding period in 2019 as
follows:

RESULTS HIGHLIGHTS

.
The Group’s revenue for the six months ended 30 June 2020
reached approximately US$31.2 million, representing a decrease of
approximately 3.8% from US$32.4 million for the same period in
2019;
.
Gross profit amounted to approximately US$10.1 million for the
six months ended 30 June 2020, representing an increase of
approximately 2.7% from US$9.9 million for the same period in
2019;
.
Net profit attributed to equity shareholders of the Company
amounted to approximately US$2.9 million for the six months ended
30 June 2020, representing a decrease of 62.0% from US$7.5
million for the same period in 2019 or an increase of approximately
5.5 times compared with US$0.5 million (excluding one-time gain
from selling of rigs) for the same period in 2019;
.
Earnings per share for the six months ended 30 June 2020 was
US$0.10 cent, representing a decrease of 64.3% compared with
US$0.28 cent for the same period in 2019;
.
The Board has resolved not to declare an interim dividend for the six
months ended 30 June 2020.
截至二零二零年六月三十日止六個月之
中期業績

華商國際海洋能源科技控股有限公司(「本公司」或「華
商國際」)董事(「董事」)會(「董事會」)公佈本公司及其
附屬公司(統稱為「本集團」)截至二零二零年六月三十
日止六個月之未經審核業績,連同二零一九年同期
之未經審核比較數字如下:

業績摘要


.
本集團截至二零二零年六月三十日止六個月
之收益約為31.2百萬美元,較二零一九年同期
32.4百萬美元減少約3.8%;
.
截至二零二零年六月三十日止六個月之毛利約
為10.1百萬美元,較二零一九年同期9.9百萬美
元增加約2.7%;
.
截至二零二零年六月三十日止六個月之本公司
股權股東應佔之淨溢利約為2.9百萬美元,較二
零一九年同期7.5百萬美元減少62.0%,或較二
零一九年同期0.5百萬美元(剔除一次性出售平
台獲利)增長約5.5倍;
.
截至二零二零年六月三十日止六個月之每股盈
利為0.10美仙,較二零一九年同期之0.28美仙
減少64.3%;
.
董事會議決不宣派截至二零二零年六月三十日
止六個月中期股息。


CONSOLIDATED STATEMENT OF PROFIT OR LOSS – UNAUDITED
綜合損益表 – 未經審核
03華商國際海洋能源科技控股有限公司
二零二零年中期報告
For the six months
ended 30 June
截至六月三十日止六個月
2020 2019
二零二零年二零一九年
Notes US$’000 US$’000
附註千美元千美元
Revenue收益3, 4 31,171 32,386
Cost of sales銷售成本(21,022) (22,501)
Gross profit毛利10,149 9,885
Other revenue and net income其他收益及淨收入5 3,797 3,753
Selling and distribution expenses銷售及分銷開支(2,060) (2,500)
General and administrative expenses一般及行政開支(8,223) (9,581)
Other operating expenses其他經營開支(10) (515)
Profit from operations經營溢利3,653 1,042
Finance costs財務成本6(a) (1,110) (556)
Share of profits of associates分佔聯營公司溢利6 4
Share of profits of joint venture分佔合營公司溢利636 7,197
Profit before taxation除稅前溢利6 3,185 7,687
Income tax所得稅7 (290) (168)
Profit for the period期內溢利2,895 7,519
Attributable to:以下各方應佔:
Equity shareholders of the Company本公司股權股東2,869 7,545
Non-controlling interests非控股權益26 (26)
Profit for the period期內溢利2,895 7,519
Earnings per share
Basic and diluted
每股盈利
基本及攤薄9
US$0.10 cent
0.10美仙
US$0.28 cent
0.28美仙
03華商國際海洋能源科技控股有限公司
二零二零年中期報告
For the six months
ended 30 June
截至六月三十日止六個月
2020 2019
二零二零年二零一九年
Notes US$’000 US$’000
附註千美元千美元
Revenue收益3, 4 31,171 32,386
Cost of sales銷售成本(21,022) (22,501)
Gross profit毛利10,149 9,885
Other revenue and net income其他收益及淨收入5 3,797 3,753
Selling and distribution expenses銷售及分銷開支(2,060) (2,500)
General and administrative expenses一般及行政開支(8,223) (9,581)
Other operating expenses其他經營開支(10) (515)
Profit from operations經營溢利3,653 1,042
Finance costs財務成本6(a) (1,110) (556)
Share of profits of associates分佔聯營公司溢利6 4
Share of profits of joint venture分佔合營公司溢利636 7,197
Profit before taxation除稅前溢利6 3,185 7,687
Income tax所得稅7 (290) (168)
Profit for the period期內溢利2,895 7,519
Attributable to:以下各方應佔:
Equity shareholders of the Company本公司股權股東2,869 7,545
Non-controlling interests非控股權益26 (26)
Profit for the period期內溢利2,895 7,519
Earnings per share
Basic and diluted
每股盈利
基本及攤薄9
US$0.10 cent
0.10美仙
US$0.28 cent
0.28美仙

For the six months
ended 30 June

截至六月三十日止六個月


2020
二零二零年
US$’000
千美元
2,895
(70)
(3,155)
(191)
(521)
(547)
26
(521)
二零一九年


US$’000

千美元


Profit for the period
期內溢利


7,519
Other comprehensive income for the period:期內其他全面收益:
Items that may be reclassified subsequently to 隨後或會重新分類至損益之
profit or loss:項目:


– Equity investments at FVOCI – net –按公平價值計入其他全面收益的
movement in fair value reserve 股權投資
–公平價值儲備的變動
(non-recycling) (with nil tax effect) 淨額(非劃轉)(零稅務影響)


– Share of other comprehensive income of –應佔合營公司其他全面收益
joint venture (with nil tax effect) (零稅務影響)


– Exchange differences on translation of –換算附屬公司及聯營公司財務報表
financial statements of subsidiaries and 所產生之匯兌差額(零稅務影響)
associates (with nil tax effect)
(202)
Total comprehensive (loss)/income
期內全面(虧損)╱收益總額
for the period

7,317

Attributable to:以下各方應佔:
Equity shareholders of the Company本公司股權股東


7,734
Non-controlling interests非控股權益


(417)
Total comprehensive (loss)/income
期內全面(虧損)╱收益總額
for the period

7,317


CONSOLIDATED STATEMENT OF FINANCIAL POSITION – UNAUDITED
綜合財務狀況表 – 未經審核
05華商國際海洋能源科技控股有限公司
二零二零年中期報告
As at
30 June
2020
As at
31 December
2019
於二零二零年
六月三十日
於二零一九年
十二月三十一日
Notes US$’000 US$’000
附註千美元千美元
NON-CURRENT ASSETS非流動資產
Property, plant and equipment物業、廠房及設備10 40,092 42,989
Investment properties投資物業3,272 3,265
Intangible assets無形資產315 307
Interest in associates於聯營公司之權益308 307
Interest in joint venture於合營公司之權益39,995 42,514
Other financial assets其他金融資產256 326
Prepayment預付款– 60
Lease receivables租賃應收款6,278 6,044
Deferred tax assets遞延稅項資產1,778 1,775
92,294 97,587
CURRENT ASSETS流動資產
Inventories存貨150,885 149,028
Trade and other receivables貿易應收及其他應收款項11 77,112 64,824
Contract assets合約資產1,275 1,268
Lease receivables租賃應收款21,866 3,561
Amount due from a related company應收關聯公司款項101 101
Tax recoverable可收回稅項132 826
Pledged bank deposits已抵押銀行存款1,391 1,051
Cash and cash equivalents現金及現金等值物30,178 35,021
282,940 255,680
Non-current assets classified as
held for sale
分類為持作銷售之
非流動資產2,864 2,911
285,804 258,591
CURRENT LIABILITIES流動負債
Trade and other payables貿易應付及其他應付款項12 195,279 189,417
Contract liabilities合約負債30,740 29,034
Bank loans銀行貸款1,977 5,023
Lease liabilities租賃負債20,953 1,124
Tax payable應付稅項4,136 4,191
253,085 228,789
NET CURRENT ASSETS流動資產淨值32,719 29,802
TOTAL ASSETS LESS
CURRENT LIABILITIES
總資產減流動負債
125,013 127,389
05華商國際海洋能源科技控股有限公司
二零二零年中期報告
As at
30 June
2020
As at
31 December
2019
於二零二零年
六月三十日
於二零一九年
十二月三十一日
Notes US$’000 US$’000
附註千美元千美元
NON-CURRENT ASSETS非流動資產
Property, plant and equipment物業、廠房及設備10 40,092 42,989
Investment properties投資物業3,272 3,265
Intangible assets無形資產315 307
Interest in associates於聯營公司之權益308 307
Interest in joint venture於合營公司之權益39,995 42,514
Other financial assets其他金融資產256 326
Prepayment預付款– 60
Lease receivables租賃應收款6,278 6,044
Deferred tax assets遞延稅項資產1,778 1,775
92,294 97,587
CURRENT ASSETS流動資產
Inventories存貨150,885 149,028
Trade and other receivables貿易應收及其他應收款項11 77,112 64,824
Contract assets合約資產1,275 1,268
Lease receivables租賃應收款21,866 3,561
Amount due from a related company應收關聯公司款項101 101
Tax recoverable可收回稅項132 826
Pledged bank deposits已抵押銀行存款1,391 1,051
Cash and cash equivalents現金及現金等值物30,178 35,021
282,940 255,680
Non-current assets classified as
held for sale
分類為持作銷售之
非流動資產2,864 2,911
285,804 258,591
CURRENT LIABILITIES流動負債
Trade and other payables貿易應付及其他應付款項12 195,279 189,417
Contract liabilities合約負債30,740 29,034
Bank loans銀行貸款1,977 5,023
Lease liabilities租賃負債20,953 1,124
Tax payable應付稅項4,136 4,191
253,085 228,789
NET CURRENT ASSETS流動資產淨值32,719 29,802
TOTAL ASSETS LESS
CURRENT LIABILITIES
總資產減流動負債
125,013 127,389

06CMIC Ocean En-tech Holding Co., Ltd.
Interim Report 2020CONSOLIDATED STATEMENT OF FINANCIAL POSITION – UNAUDITED
綜合財務狀況表 – 未經審核
As at
30 June
2020
As at
31 December
2019
於二零二零年
六月三十日
於二零一九年
十二月三十一日
US$’000 US$’000
千美元千美元
NON-CURRENT LIABILITIES非流動負債
Bank loans銀行貸款3,530 4,161
Lease liabilities租賃負債2,296 2,814
5,826 6,975
NET ASSETS資產淨值119,187 120,414
CAPITAL AND RESERVES資本及儲備
Share capital股本39,191 39,191
Reserves儲備80,612 81,865
Total equity attributable to
equity shareholders of the Company
本公司股權股東應佔權益總額
119,803 121,056
Non-controlling interests非控股權益(616) (642)
TOTAL EQUITY權益總額119,187 120,414
06CMIC Ocean En-tech Holding Co., Ltd.
Interim Report 2020CONSOLIDATED STATEMENT OF FINANCIAL POSITION – UNAUDITED
綜合財務狀況表 – 未經審核
As at
30 June
2020
As at
31 December
2019
於二零二零年
六月三十日
於二零一九年
十二月三十一日
US$’000 US$’000
千美元千美元
NON-CURRENT LIABILITIES非流動負債
Bank loans銀行貸款3,530 4,161
Lease liabilities租賃負債2,296 2,814
5,826 6,975
NET ASSETS資產淨值119,187 120,414
CAPITAL AND RESERVES資本及儲備
Share capital股本39,191 39,191
Reserves儲備80,612 81,865
Total equity attributable to
equity shareholders of the Company
本公司股權股東應佔權益總額
119,803 121,056
Non-controlling interests非控股權益(616) (642)
TOTAL EQUITY權益總額119,187 120,414

For the six months ended 30 June 2020 截至二零二零年六月三十日止六個月
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY – UNAUDITED
簡明綜合權益變動表 – 未經審核
07華商國際海洋能源科技控股有限公司
二零二零年中期報告
Attributable to equity shareholders of the Company
本公司股權股東應佔
Share
capital
Share
premium
Merger
reserve
Exchange
reserve
Share
reserve held
for share
award plan
Capital
reserve
Revaluation
reserve
Reserve
funds
Fair value
reserve
(non-
recycling)
Accumulated
losses Total
Non-
controlling
interests
Total
equity
股本股份溢價合併儲備匯兌儲備
持作就
股份獎勵
計劃之
股份儲備資本儲備重估儲備儲備公益金
公允值
儲備
(非劃轉)累計虧損總計非控股權益總權益
US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000
千美元千美元千美元千美元千美元千美元千美元千美元千美元千美元千美元千美元千美元
Balance at 1 January
2019
於二零一九年
一月一日之結餘18,854 182,447 2,161 (16,020) (1,285) 5,482 627 8,509 (3,660) (168,462) 28,653 (255) 28,398
Changes in equity for
the six months ended
30 June 2019:
截至二零一九年
六月三十日止
六個月之
權益變動:
Profit for the period期內溢利– – – – – – – – – 7,545 7,545 (26) 7,519
Other comprehensive
income
其他全面收益
– – – 189 – – – – – – 189 (391) (202)
Total comprehensive income全面收益總額– – – 189 – – – – – 7,545 7,734 (417) 7,317
Issue of new shares發行新股份18,768 65,512 – – – – – – – – 84,280 – 84,280
Equity-settled share-based
transactions
以股權結算以股份
為基礎支付的交易– – – – (930) – – – – – (930) – (930)
Balance at 30 June 2019
(unaudited)
於二零一九年
六月三十日之
結餘(未經審核)37,622 247,959 2,161 (15,831) (2,215) 5,482 627 8,509 (3,660) (160,917) 119,737 (672) 119,065
Balance at 1 January
2020
於二零二零年
一月一日之結餘39,191 250,735 2,161 (15,537) (2,801) 5,482 627 8,908 (8,550) (159,160) 121,056 (642) 120,414
Changes in equity for
the six months ended
30 June 2020:
截至二零二零年
六月三十日止
六個月之
權益變動:
Profit for the period 期內溢利– – – – – – – – – 2,869 2,869 26 2,895
Other comprehensive
income
其他全面收益
– – – (191) – – – – (3,225) – (3,416) – (3,416)
Total comprehensive income全面收益總額– – – (191) – – – – (3,225) 2,869 (547) 26 (521)
Purchase of shares for share
award scheme
就股份獎勵計劃
購買股份– – – – (706) – – – – – (706) – (706)
Transfer to reserve fund轉撥至儲備公益金– – – – – – – 204 – (204) – – –
Balance at 30 June 2020
(unaudited)
於二零二零年
六月三十日之
結餘(未經審核)39,191 250,735 2,161 (15,728) (3,507) 5,482 627 9,112 (11,775) (156,495) 119,803 (616) 119,187
07華商國際海洋能源科技控股有限公司
二零二零年中期報告
Attributable to equity shareholders of the Company
本公司股權股東應佔
Share
capital
Share
premium
Merger
reserve
Exchange
reserve
Share
reserve held
for share
award plan
Capital
reserve
Revaluation
reserve
Reserve
funds
Fair value
reserve
(non-
recycling)
Accumulated
losses Total
Non-
controlling
interests
Total
equity
股本股份溢價合併儲備匯兌儲備
持作就
股份獎勵
計劃之
股份儲備資本儲備重估儲備儲備公益金
公允值
儲備
(非劃轉)累計虧損總計非控股權益總權益
US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000
千美元千美元千美元千美元千美元千美元千美元千美元千美元千美元千美元千美元千美元
Balance at 1 January
2019
於二零一九年
一月一日之結餘18,854 182,447 2,161 (16,020) (1,285) 5,482 627 8,509 (3,660) (168,462) 28,653 (255) 28,398
Changes in equity for
the six months ended
30 June 2019:
截至二零一九年
六月三十日止
六個月之
權益變動:
Profit for the period期內溢利– – – – – – – – – 7,545 7,545 (26) 7,519
Other comprehensive
income
其他全面收益
– – – 189 – – – – – – 189 (391) (202)
Total comprehensive income全面收益總額– – – 189 – – – – – 7,545 7,734 (417) 7,317
Issue of new shares發行新股份18,768 65,512 – – – – – – – – 84,280 – 84,280
Equity-settled share-based
transactions
以股權結算以股份
為基礎支付的交易– – – – (930) – – – – – (930) – (930)
Balance at 30 June 2019
(unaudited)
於二零一九年
六月三十日之
結餘(未經審核)37,622 247,959 2,161 (15,831) (2,215) 5,482 627 8,509 (3,660) (160,917) 119,737 (672) 119,065
Balance at 1 January
2020
於二零二零年
一月一日之結餘39,191 250,735 2,161 (15,537) (2,801) 5,482 627 8,908 (8,550) (159,160) 121,056 (642) 120,414
Changes in equity for
the six months ended
30 June 2020:
截至二零二零年
六月三十日止
六個月之
權益變動:
Profit for the period 期內溢利– – – – – – – – – 2,869 2,869 26 2,895
Other comprehensive
income
其他全面收益
– – – (191) – – – – (3,225) – (3,416) – (3,416)
Total comprehensive income全面收益總額– – – (191) – – – – (3,225) 2,869 (547) 26 (521)
Purchase of shares for share
award scheme
就股份獎勵計劃
購買股份– – – – (706) – – – – – (706) – (706)
Transfer to reserve fund轉撥至儲備公益金– – – – – – – 204 – (204) – – –
Balance at 30 June 2020
(unaudited)
於二零二零年
六月三十日之
結餘(未經審核)39,191 250,735 2,161 (15,728) (3,507) 5,482 627 9,112 (11,775) (156,495) 119,803 (616) 119,187

CONDENSED CONSOLIDATED CASH FLOW STATEMENT – UNAUDITED
簡明綜合現金流量表 – 未經審核
08CMIC Ocean En-tech Holding Co., Ltd.
Interim Report 2020For the six months
ended 30 June
截至六月三十日止六個月
2020 2019
二零二零年二零一九年
US$’000 US$’000
千美元千美元
Operating activities經營業務
Cash used in operations經營業務所用現金(4,016) (13,921)
Income tax refunded/(paid)退回╱(已付)所得稅349 (167)
Net cash used in operating activities經營業務所用現金淨額(3,667) (14,088)
Investing activities投資業務
Payment for the purchase of property,
plant and equipment
購置物業、廠房及設備付款
(29) (335)
Payment for subscription of shares in
a joint venture
認購合營公司股份支付款項
– (37,000)
Collection of notes receivables收回應收票據3,831 –
Interest received已收利息1,059 922
Increase in pledged bank deposits已抵押銀行存款增加(340) (139)
Net cash generated from/(used in)
investing activities
投資業務產生╱(所用)現金淨額
4,521 (36,552)
Financing activities融資業務
Proceeds from issue of new shares發行新股份所得款項– 83,350
Proceeds from a bank loan and
another borrowing
銀行貸款及其他借款所得款項
664 1,475
Repayment of bank loans銀行貸款還款(3,555) (2,294)
Interest paid已付利息(1,111) (556)
Capital element of lease rental paid已付租賃租金之資本部份(555) –
Interest element of lease rental paid已付租賃租金之利息部份(92) –
Payments for purchase of shares under
share award scheme
根據股份獎勵計劃購買股份之付款
(706) –
Net cash (used in)/generated from
financing activities
融資業務(所用)╱產生之現金淨額
(5,355) 81,975
Net (decrease)/increase in cash and
cash equivalents
現金及現金等值物淨額(減少)╱
增加(4,501) 31,335
Cash and cash equivalents at 1 January於一月一日之現金及現金等值物35,021 19,805
Effect of foreign exchanges rates change匯率變動的影響(342) (21)
Cash and cash equivalents at 30 June於六月三十日之現金及現金等值物30,178 51,119
08CMIC Ocean En-tech Holding Co., Ltd.
Interim Report 2020For the six months
ended 30 June
截至六月三十日止六個月
2020 2019
二零二零年二零一九年
US$’000 US$’000
千美元千美元
Operating activities經營業務
Cash used in operations經營業務所用現金(4,016) (13,921)
Income tax refunded/(paid)退回╱(已付)所得稅349 (167)
Net cash used in operating activities經營業務所用現金淨額(3,667) (14,088)
Investing activities投資業務
Payment for the purchase of property,
plant and equipment
購置物業、廠房及設備付款
(29) (335)
Payment for subscription of shares in
a joint venture
認購合營公司股份支付款項
– (37,000)
Collection of notes receivables收回應收票據3,831 –
Interest received已收利息1,059 922
Increase in pledged bank deposits已抵押銀行存款增加(340) (139)
Net cash generated from/(used in)
investing activities
投資業務產生╱(所用)現金淨額
4,521 (36,552)
Financing activities融資業務
Proceeds from issue of new shares發行新股份所得款項– 83,350
Proceeds from a bank loan and
another borrowing
銀行貸款及其他借款所得款項
664 1,475
Repayment of bank loans銀行貸款還款(3,555) (2,294)
Interest paid已付利息(1,111) (556)
Capital element of lease rental paid已付租賃租金之資本部份(555) –
Interest element of lease rental paid已付租賃租金之利息部份(92) –
Payments for purchase of shares under
share award scheme
根據股份獎勵計劃購買股份之付款
(706) –
Net cash (used in)/generated from
financing activities
融資業務(所用)╱產生之現金淨額
(5,355) 81,975
Net (decrease)/increase in cash and
cash equivalents
現金及現金等值物淨額(減少)╱
增加(4,501) 31,335
Cash and cash equivalents at 1 January於一月一日之現金及現金等值物35,021 19,805
Effect of foreign exchanges rates change匯率變動的影響(342) (21)
Cash and cash equivalents at 30 June於六月三十日之現金及現金等值物30,178 51,119

1.
CORPORATE INFORMATION
The Company was incorporated in the Cayman Islands as an
exempted company with limited liability on 22 February 2005 under
the Companies Law, Cap 22 (Law 3 of 1961, as consolidated and
revised) of the Cayman Islands and was listed on the Main Board (the
“Main Board”) of the Stock Exchange of Hong Kong Limited (the
“Stock Exchange”) on 5 June 2009.

The condensed consolidated financial statements for the six
months ended 30 June 2020 have not been audited nor reviewed
by the Company’s auditors, but have been reviewed by the
Company’s audit committee. The Company’s audit committee has
no disagreement with the accounting treatments which had been
adopted by the Group.

2.
BASIS OF PREPARATION AND CHANGES IN
ACCOUNTING POLICIES
The unaudited condensed consolidated financial statements
have been prepared in accordance with the applicable disclosure
requirements of the Rules Governing the Listing of Securities (the
“Listing Rules”) on the Stock Exchange, including compliance
with the Hong Kong Accounting Standard (“HKAS”) 34 “Interim
Financial Reporting” issued by the Hong Kong Institute of Certified
Public Accountants (“HKICPA”).

The unaudited condensed consolidated financial statements have
been prepared on the historical cost basis, except for investments in
equity securities which are stated at fair value.

The accounting policies used in the condensed consolidated financial
statements are consistent with those followed in the preparation
of the Group’s annual financial statements for the year ended 31
December 2019.

In the current period, the HKICPA has issued several amendments to
HKFRSs that are first effective for the current accounting period of
the Group. The adoption of these amendments had no significant
financial impact on these unaudited condensed consolidated
financial statements.

The Group has not applied any new or revised HKFRSs that have
been issued but are not yet effective for the current accounting
period.

1.
公司資料
本公司於二零零五年二月二十二日根據開曼群
島公司法第22章(一九六一年第三號法案併入
及修訂本)在開曼群島註冊成立為獲豁免有限公
司,並於二零零九年六月五日在香港聯合交易
所有限公司(「聯交所」)主板(「主板」)上市。


截至二零二零年六月三十日止六個月之簡明綜
合財務報表未經本公司核數師審核亦未經審
閱,惟已經由本公司審核委員會審閱。本公司
審核委員會對本集團採納之會計處理方法並無
異議。



2.
編製基準及會計政策變動
未經審核簡明綜合財務報表乃遵照聯交所證券
上市規則(「上市規則」)之適用披露規定,包括
遵守香港會計師公會(「香港會計師公會」)所頒
佈之香港會計準則(「香港會計準則」)第34號「中
期財務報告」而編製。


未經審核簡明綜合財務報表乃按照歷史成本基
準編製,惟以公允值列賬之股本證券投資除
外。


簡明綜合財務報表所用會計政策與編製本集團
截至二零一九年十二月三十一日止年度之年度
財務報表所遵循者一致。


於本期間,香港會計師公會已頒佈若干於本集
團當前會計期間首次生效的香港財務報告準則
的修訂。採納該等修訂對該等未經審核簡明綜
合財務報表並無產生重大財務影響。


本集團並無於當前會計期間應用任何已頒佈但
尚未生效的新訂或經修訂香港財務報告準則。



3. REVENUE
The principal activities of the Group are the design, manufacturing,
installation and commissioning of capital equipment and packages
on land and offshore rigs, sales of oilfield expendables and supplies,
and the provision of asset management and engineering services.

All revenue by major products or service lines is as follows:

3.
收益
本集團主要業務為設計、製造、安裝及委託資
本設備及總包陸地及海洋鑽機及銷售油田耗材
及物料以及提供資產管理及工程服務。


所有收益按主要產品或服務分類如下:

Unaudited

未經審核


For the six months ended

截至六月三十日止六個月


30 June 2020
二零二零年
US$’000
千美元
6,826
20,966
3,379
31,171
30 June 2019

二零一九年


US$’000

千美元


Capital equipment and packages資本設備及總包


– Sales of capital equipment –資本設備銷售
13,510
Oilfield expendables and supplies油田耗材及物料


– Sales of expendables and supplies –耗材及物料銷售
15,054
Asset management and engineering services資產管理及工程服務


– Asset management and engineering –資產管理及工程服務費收入
service fee income
3,822
32,386

4.
SEGMENT REPORTING 4. 分部報告
The Group manages its business by divisions, which are organised 本集團按不同分部劃分管理其業務,該等分部
by a mixture of both business units (products and services) 乃按業務單位(產品和服務)以及地區劃分。以
and geography. In a manner consistent with the way in which 與就資源分配及表現評估向本集團最高級行政
information is reported internally to the Group’s most senior 管理人員內部呈報資料方式一致的方式,本集
executive management for the purposes of resource allocation and 團確定呈報以下三個應呈報分部。並無將任何
performance assessment, the Group has identified the following 經營分部合計以構成以下的呈報分部。

three reportable segments. No operating segments have been
aggregated to form the following reportable segments.

– Capital equipment andthe design, manufacturing, installation and –資本設備及設計、製造、安裝及委託經營
packages:
commissioning of capital equipment and 總包:資本設備及總包陸地及海洋鑽
packages on land and offshore rigs 井平台



Oilfield expendables andthe manufacturing and trading of oilfield –油田耗材及製造及買賣油田耗材及物料
supplies: expendables and supplies 物料:
– Asset management and the provision of management, lease and –資產管理及提供平台管理、租賃、買賣
engineering services:
purchase and sales of rigs and 工程及工程服務
engineering services 服務:


4. SEGMENT REPORTING (Continued)
(a) Segment results, assets and liabilities
For the purposes of assessing segment performance and
allocating resources between segments, the Group’s senior
executive management monitors the results, assets and
liabilities attributable to each reportable segment on the
following bases:

Segment assets include all tangible assets, intangible assets,
non-current lease receivables and current assets with the
exception of interest in associates and joint venture, other
financial assets, cash and cash equivalents, pledged bank
deposits, tax balances and other unallocated head office and
corporate assets. Segment liabilities include trade and other
payables, lease liabilities and provisions attributable to the
activities of the individual segment, with the exception of bank
loans, tax balances and other unallocated head office and
corporate liabilities.

Revenue and expenses are allocated to the reportable
segments with reference to revenue generated by those
segments and the expenses incurred by those segments or
which otherwise arise from the depreciation or amortisation of
assets attributable to those segments.

The measure used for reporting segment profit is “segment
results” i.e. “adjusted earnings before finance costs and
taxes” of individual segment. To arrive at segment results, the
Group’s earnings are further adjusted for finance costs and
items not specifically attributable to individual segment, such
as share of results of associates and joint venture, Directors’
and auditors’ remuneration and other head office or corporate
income and expenses.

In addition to receiving segment information concerning
segment results, management is provided with segment
information concerning revenue (including inter-segment
revenue), depreciation and amortisation and additions to
non-current segment assets used by the segments in their
operations. Inter-segment revenue is priced with reference to
prices charged to external parties for similar orders.

4. 分部報告(續)
(a) 分部業績、資產及負債
就評估分部表現及於分部間分配資源而
言,本集團高級行政管理人員按以下基
礎監控各報告分部應佔的業績、資產及負
債:

分部資產包括所有有形資產、無形資產、
非流動租賃應收款及流動資產,而於聯營
公司及合營公司之權益、其他金融資產、
現金及現金等值物、已抵押銀行存款、稅
項結餘及其他未分配的總辦事處及公司資
產除外。分部負債包括個別分部的活動應
佔的貿易應付及其他應付款項、租賃負債
及個別分部的活動應佔的撥備,而銀行貸
款、稅項結餘及其他未分配總辦事處和公
司負債除外。


收益及開支乃經參考該等分部產生的收益
及開支或該等分部應佔的資產的折舊或攤
銷所產生的支出分配至報告分部。


用於報告分部溢利的計量為「分部業績」,
即個別分部「扣除財務成本及稅項前的經
調整盈利」。為計算分部業績,本集團的
盈利乃對財務成本及並非指定屬於個別分
部的項目作出進一步調整,如分佔聯營公
司及合營公司業績、董事及核數師酬金以
及其他總辦事處或公司收入及開支。


除收到有關分部業績的分部資料外,管理
層獲提供有關收益(包括分部間收益),分
類於彼等營運中使用的非流動分部資產的
折舊、攤銷以及添置的分部資料。分部間
收益乃參考就類似訂單向外部各方收取的
價格釐定。




12CMIC Ocean En-tech Holding Co., Ltd.
Interim Report 2020NOTES TO THE FINANCIAL STATEMENTS – UNAUDITED
財務報表附註 – 未經審核
4. 分部報告(續)
(a) 分部業績、資產及負債(續)
下文載列來自客戶合約的收入按主要產品
或服務之分拆,以及本期間就分配資源及
評估分部表現而向本集團最高行政管理人
員提供的本集團可呈報分部之資料。

4. SEGMENT REPORTING (Continued)
(a) Segment results, assets and liabilities (Continued)
Disaggregation of revenue from contracts with customers
by major products or service lines, as well as information
regarding the Group’s reportable segments as provided to the
Group’s most senior executive management for the purposes
of resource allocation and assessment of segment performance
for the period is set out below.
Capital equipment
and packages
Oilfield expendables
and supplies
Asset management and
engineering services Total
資本設備及總包油田耗材及物料資產管理及工程服務總計
Unaudited Unaudited Unaudited Unaudited
未經審核未經審核未經審核未經審核
For the period ended For the period ended For the period ended For the period ended
截至截至截至截至
30 June
2020
30 June
2019
30 June
2020
30 June
2019
30 June
2020
30 June
2019
30 June
2020
30 June
2019
二零二零年
六月三十日
止期間
二零一九年
六月三十日
止期間
二零二零年
六月三十日
止期間
二零一九年
六月三十日
止期間
二零二零年
六月三十日
止期間
二零一九年
六月三十日
止期間
二零二零年
六月三十日
止期間
二零一九年
六月三十日
止期間
US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000
千美元千美元千美元千美元千美元千美元千美元千美元
Revenue from external customers來自外部客戶收益6,826 13,510 20,966 15,054 3,379 3,822 31,171 32,386
Inter-segment revenue分部間收益1,029 775 3,343 6,292 24 501 4,396 7,568
Reportable segment revenue應呈報分部收益7,855 14,285 24,309 21,346 3,403 4,323 35,567 39,954
Reportable segment results應呈報分部業績1,134 139 1,907 1,087 2,183 823 5,224 2,049
The segment assets and liabilities as at 30 June 2020 and 31
December 2019 is set out below:
Capital equipment
and packages
Oilfield expendables
and supplies
Asset management and
engineering services Total
資本設備及總包油田耗材及物料資產管理及工程服務總計
As at
30 June
2020
As at
31 December
2019
As at
30 June
2020
As at
31 December
2019
As at
30 June
2020
As at
31 December
2019
As at
30 June
2020
As at
31 December
2019
於二零二零年
六月三十日
於二零一九年
十二月三十一日
於二零二零年
六月三十日
於二零一九年
十二月三十一日
於二零二零年
六月三十日
於二零一九年
十二月三十一日
於二零二零年
六月三十日
於二零一九年
十二月三十一日
(unaudited) (unaudited) (unaudited) (unaudited)
(未經審核)(未經審核)(未經審核)(未經審核)
US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000
千美元千美元千美元千美元千美元千美元千美元千美元
Reportable segment assets應呈報分部資產189,377 205,494 64,949 55,965 44,586 3,896 298,912 265,355
Reportable segment liabilities應呈報分部負債(186,360) (195,553) (23,448) (16,359) (30,076) (1,522) (239,884) (213,434)
於二零二零年六月三十日及二零一九年十
二月三十一日之分部資產及負債載列如
下:
12CMIC Ocean En-tech Holding Co., Ltd.
Interim Report 2020NOTES TO THE FINANCIAL STATEMENTS – UNAUDITED
財務報表附註 – 未經審核
4. 分部報告(續)
(a) 分部業績、資產及負債(續)
下文載列來自客戶合約的收入按主要產品
或服務之分拆,以及本期間就分配資源及
評估分部表現而向本集團最高行政管理人
員提供的本集團可呈報分部之資料。

4. SEGMENT REPORTING (Continued)
(a) Segment results, assets and liabilities (Continued)
Disaggregation of revenue from contracts with customers
by major products or service lines, as well as information
regarding the Group’s reportable segments as provided to the
Group’s most senior executive management for the purposes
of resource allocation and assessment of segment performance
for the period is set out below.
Capital equipment
and packages
Oilfield expendables
and supplies
Asset management and
engineering services Total
資本設備及總包油田耗材及物料資產管理及工程服務總計
Unaudited Unaudited Unaudited Unaudited
未經審核未經審核未經審核未經審核
For the period ended For the period ended For the period ended For the period ended
截至截至截至截至
30 June
2020
30 June
2019
30 June
2020
30 June
2019
30 June
2020
30 June
2019
30 June
2020
30 June
2019
二零二零年
六月三十日
止期間
二零一九年
六月三十日
止期間
二零二零年
六月三十日
止期間
二零一九年
六月三十日
止期間
二零二零年
六月三十日
止期間
二零一九年
六月三十日
止期間
二零二零年
六月三十日
止期間
二零一九年
六月三十日
止期間
US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000
千美元千美元千美元千美元千美元千美元千美元千美元
Revenue from external customers來自外部客戶收益6,826 13,510 20,966 15,054 3,379 3,822 31,171 32,386
Inter-segment revenue分部間收益1,029 775 3,343 6,292 24 501 4,396 7,568
Reportable segment revenue應呈報分部收益7,855 14,285 24,309 21,346 3,403 4,323 35,567 39,954
Reportable segment results應呈報分部業績1,134 139 1,907 1,087 2,183 823 5,224 2,049
The segment assets and liabilities as at 30 June 2020 and 31
December 2019 is set out below:
Capital equipment
and packages
Oilfield expendables
and supplies
Asset management and
engineering services Total
資本設備及總包油田耗材及物料資產管理及工程服務總計
As at
30 June
2020
As at
31 December
2019
As at
30 June
2020
As at
31 December
2019
As at
30 June
2020
As at
31 December
2019
As at
30 June
2020
As at
31 December
2019
於二零二零年
六月三十日
於二零一九年
十二月三十一日
於二零二零年
六月三十日
於二零一九年
十二月三十一日
於二零二零年
六月三十日
於二零一九年
十二月三十一日
於二零二零年
六月三十日
於二零一九年
十二月三十一日
(unaudited) (unaudited) (unaudited) (unaudited)
(未經審核)(未經審核)(未經審核)(未經審核)
US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000
千美元千美元千美元千美元千美元千美元千美元千美元
Reportable segment assets應呈報分部資產189,377 205,494 64,949 55,965 44,586 3,896 298,912 265,355
Reportable segment liabilities應呈報分部負債(186,360) (195,553) (23,448) (16,359) (30,076) (1,522) (239,884) (213,434)
於二零二零年六月三十日及二零一九年十
二月三十一日之分部資產及負債載列如
下:

4. SEGMENT REPORTING (Continued) 4. 分部報告(續)
(b) Reconciliation of reportable segment revenue,
profit, assets and liabilities
(b) 應呈報分部收益、溢利、資產及負債
之對賬
Unaudited
未經審核
For the six months ended 30 June
截至六月三十日止六個月


2020
二零二零年
US$’000
千美元
35,567
(4,396)
31,171
5,224
(1,110)
6
636
(1,571)
3,185
2019

二零一九年


US$’000

千美元


Revenue收益


Reportable segment revenue應呈報分部收益


39,954
Elimination of inter-segment revenue對銷分部間收益


(7,568)
Consolidated revenue綜合收益
32,386

Profit溢利


Segment results分部業績


2,049
Finance costs財務成本


(556)
Share of profits of associates分佔聯營公司溢利
4
Share of profits of joint venture分佔合營公司溢利


7,197
Unallocated head office and 未分配總辦事處及公司收入
corporate income and expenses及開支


(1,007)
Consolidated profit before taxation除稅前綜合溢利


7,687


14CMIC Ocean En-tech Holding Co., Ltd.
Interim Report 2020NOTES TO THE FINANCIAL STATEMENTS – UNAUDITED
財務報表附註 – 未經審核
4. 分部報告(續)
(b) 應呈報分部收益、溢利、資產及負債
之對賬(續)
4. SEGMENT REPORTING (Continued)
(b) Reconciliation of reportable segment revenue,
profit, assets and liabilities (Continued)
As at
30 June
2020
As at
31 December
2019
於二零二零年
六月三十日
於二零一九年
十二月三十一日
(unaudited)
(未經審核)
US$’000 US$’000
千美元千美元
Assets資產
Reportable segment assets應呈報分部資產298,912 265,355
Interest in associates於聯營公司之權益308 307
Interest in joint venture於合營公司之權益39,995 42,514
Other financial assets其他金融資產256 326
Cash and cash equivalents現金及現金等值物30,178 35,021
Pledged bank deposits已抵押銀行存款1,391 1,051
Deferred tax assets遞延稅項資產1,778 1,755
Tax recoverable可收回稅項132 826
Unallocated head office and
corporate assets
未分配總辦事處及公司資產
5,148 9,023
Condensed consolidated total assets簡明綜合資產總值378,098 356,178
Liabilities負債
Reportable segment liabilities應呈報分部負債(239,884) (213,434)
Bank loans銀行貸款(5,507) (9,184)
Tax payable應付稅項(4,136) (4,191)
Unallocated head office and
corporate liabilities
未分配總辦事處及公司負債
(9,384) (8,955)
Consolidated total liabilities綜合負債總值(258,911) (235,764)
14CMIC Ocean En-tech Holding Co., Ltd.
Interim Report 2020NOTES TO THE FINANCIAL STATEMENTS – UNAUDITED
財務報表附註 – 未經審核
4. 分部報告(續)
(b) 應呈報分部收益、溢利、資產及負債
之對賬(續)
4. SEGMENT REPORTING (Continued)
(b) Reconciliation of reportable segment revenue,
profit, assets and liabilities (Continued)
As at
30 June
2020
As at
31 December
2019
於二零二零年
六月三十日
於二零一九年
十二月三十一日
(unaudited)
(未經審核)
US$’000 US$’000
千美元千美元
Assets資產
Reportable segment assets應呈報分部資產298,912 265,355
Interest in associates於聯營公司之權益308 307
Interest in joint venture於合營公司之權益39,995 42,514
Other financial assets其他金融資產256 326
Cash and cash equivalents現金及現金等值物30,178 35,021
Pledged bank deposits已抵押銀行存款1,391 1,051
Deferred tax assets遞延稅項資產1,778 1,755
Tax recoverable可收回稅項132 826
Unallocated head office and
corporate assets
未分配總辦事處及公司資產
5,148 9,023
Condensed consolidated total assets簡明綜合資產總值378,098 356,178
Liabilities負債
Reportable segment liabilities應呈報分部負債(239,884) (213,434)
Bank loans銀行貸款(5,507) (9,184)
Tax payable應付稅項(4,136) (4,191)
Unallocated head office and
corporate liabilities
未分配總辦事處及公司負債
(9,384) (8,955)
Consolidated total liabilities綜合負債總值(258,911) (235,764)

15華商國際海洋能源科技控股有限公司
二零二零年中期報告
NOTES TO THE FINANCIAL STATEMENTS – UNAUDITED
財務報表附註 – 未經審核
4. 分部報告(續)
(c) 地區資料
下表列出關於(i)本集團來自外界客戶收
入,及(ii)本集團的物業、廠房及設備、投
資物業、無形資產、於聯營公司及合營公
司之權益、其他金融資產及預付款之非即
期部分(「指定非流動資產」)的地理位置的
資料。客戶的地理位置以客戶所在位置
為基準。指定非流動資產的地理位置以
資產的實物位置為基礎(就物業、廠房及
設備、投資物業而言)、以所分配的營運
地點為基礎(就無形資產而言)及以業務地
點為基礎(就於聯營公司及合營公司的權
益、其他金融資產及預付款之非即期部
分)。

4. SEGMENT REPORTING (Continued)
(c) Geographic information
The following table sets out information about the
geographical locations of (i) the Group’s revenue from
external customers and (ii) the Group’s property, plant and
equipment, investment properties, intangible assets, interest
in associates and joint venture, other financial assets, non-
current portion of prepayments (“specified non-current
assets”). The geographical location of customers is based on
the location of the customers. The geographical location of the
specified non-current assets is based on the physical location
of the assets, in the case of property, plant and equipment,
investment properties and the location of the operations to
which they are allocated, in the case of intangible assets and
the location of operations, in the case of interest in associates
and joint venture, other financial assets, non-current portion
of prepayment.
Revenue from
external customers
Specified
non-current assets
來自外部客戶收益指定非流動資產
For the
six months
ended 30 June
2020
For the
six months
ended 30 June
2019
As at
30 June
2020
As at
31 December
2019
截至二零二零年
六月三十日
止六個月
截至二零一九年
六月三十日
止六個月
於二零二零年
六月三十日
於二零一九年
十二月三十一日
(unaudited) (unaudited) (unaudited)
(未經審核)(未經審核)(未經審核)
US$’000 US$’000 US$’000 US$’000
千美元千美元千美元千美元
Hong Kong Special
Administrative Region
香港特別行政區
– – 1,020 880
Mainland China中國內地10,533 16,455 42,475 45,285
North America北美10,879 10,017 703 1,044
South America南美4,102 2,941 24 28
Europe歐洲1,831 2,610 – –
Singapore新加坡3,826 361 13 2
Middle East中東– – 39,995 42,514
Others其他– 2 8 15
31,171 32,386 84,238 89,768
15華商國際海洋能源科技控股有限公司
二零二零年中期報告
NOTES TO THE FINANCIAL STATEMENTS – UNAUDITED
財務報表附註 – 未經審核
4. 分部報告(續)
(c) 地區資料
下表列出關於(i)本集團來自外界客戶收
入,及(ii)本集團的物業、廠房及設備、投
資物業、無形資產、於聯營公司及合營公
司之權益、其他金融資產及預付款之非即
期部分(「指定非流動資產」)的地理位置的
資料。客戶的地理位置以客戶所在位置
為基準。指定非流動資產的地理位置以
資產的實物位置為基礎(就物業、廠房及
設備、投資物業而言)、以所分配的營運
地點為基礎(就無形資產而言)及以業務地
點為基礎(就於聯營公司及合營公司的權
益、其他金融資產及預付款之非即期部
分)。

4. SEGMENT REPORTING (Continued)
(c) Geographic information
The following table sets out information about the
geographical locations of (i) the Group’s revenue from
external customers and (ii) the Group’s property, plant and
equipment, investment properties, intangible assets, interest
in associates and joint venture, other financial assets, non-
current portion of prepayments (“specified non-current
assets”). The geographical location of customers is based on
the location of the customers. The geographical location of the
specified non-current assets is based on the physical location
of the assets, in the case of property, plant and equipment,
investment properties and the location of the operations to
which they are allocated, in the case of intangible assets and
the location of operations, in the case of interest in associates
and joint venture, other financial assets, non-current portion
of prepayment.
Revenue from
external customers
Specified
non-current assets
來自外部客戶收益指定非流動資產
For the
six months
ended 30 June
2020
For the
six months
ended 30 June
2019
As at
30 June
2020
As at
31 December
2019
截至二零二零年
六月三十日
止六個月
截至二零一九年
六月三十日
止六個月
於二零二零年
六月三十日
於二零一九年
十二月三十一日
(unaudited) (unaudited) (unaudited)
(未經審核)(未經審核)(未經審核)
US$’000 US$’000 US$’000 US$’000
千美元千美元千美元千美元
Hong Kong Special
Administrative Region
香港特別行政區
– – 1,020 880
Mainland China中國內地10,533 16,455 42,475 45,285
North America北美10,879 10,017 703 1,044
South America南美4,102 2,941 24 28
Europe歐洲1,831 2,610 – –
Singapore新加坡3,826 361 13 2
Middle East中東– – 39,995 42,514
Others其他– 2 8 15
31,171 32,386 84,238 89,768

5. OTHER REVENUE AND NET INCOME 5. 其他收益及淨收入
Unaudited

未經審核


For the six months ended

截至六月三十日止六個月


30 June 2020
二零二零年
US$’000
千美元
305
381
1,680
696
735
3,797
30 June 2019

二零一九年


US$’000

千美元


Interest income利息收入


922
Government subsidies政府補貼


25
Reversal of impairment losses on trade 貿易應收款項及合約資產
receivables and contract assets減值虧損撥回


2,546
Interest income arising from lease 租賃安排之利息收入
arrangements


Others其他


260
3,753

6. PROFIT BEFORE TAXATION
Profit before taxation is arrived at after charging/(crediting):
6. 除稅前溢利
除稅前溢利經扣除╱(計入)下列各項︰
(a) Finance costs (a) 財務成本
Unaudited
未經審核
For the six months ended
截至六月三十日止六個月


30 June 2020
二零二零年
US$’000
千美元
187
923
1,110
30 June 2019

二零一九年


US$’000

千美元


Interest on bank loans銀行貸款利息


556
Interest on lease liabilities租賃負債利息




556


6. PROFIT BEFORE TAXATION (Continued)
(b) Other items
6. 除稅前溢利(續)
(b) 其他項目
Unaudited
未經審核
For the six months ended
截至六月三十日止六個月


30 June 2020
二零二零年
US$’000
千美元
75
2,182
(1,680)
626
(5)
229
30 June 2019

二零一九年


US$’000

千美元


Amortisation of intangible assets無形資產攤銷


496
Depreciation折舊


1,960
Reversal of impairment losses on trade 貿易應收款項及合約資產減值
receivables and contract assets虧損撥回


(2,546)
Net foreign exchange loss/(gain)匯兌虧損╱(收益)淨額


(688)
Gain on disposal of property,
出售物業、廠房及設備的收益
plant and equipment

(19)
Auditors’ remuneration核數師酬金
265

7. INCOME TAX
7. 所得稅
Unaudited

未經審核


For the six months ended

截至六月三十日止六個月


30 June 2020
二零二零年
US$’000
千美元
(25)
(265)
(290)

(290)
30 June 2019

二零一九年


US$’000

千美元


Current tax
即期稅項


Provision for the period
期內撥備


– The People’s Republic of China (“PRC”) –中華人民共和國(「中國」)
enterprise income tax 企業所得稅
(8)
– Overseas corporate income tax –海外企業所得稅
(220)
(228)
Deferred tax
遞延稅項


Origination of temporary differences產生暫時性差額


60

(168)

7.
INCOME TAX (Continued) 7. 所得稅(續)
No provision for Hong Kong Profits Tax has been made as the 由於本集團於本年度及過往年度並無任何須繳
Group has no any assessable profits subject to Hong Kong Profits 納香港利得稅的應課稅溢利,故並未就香港利
Tax for the current and prior years. Taxation for subsidiaries in 得稅作出撥備。於其他司法權區之附屬公司之
other jurisdictions is charged at the corresponding current rates of 稅項按有關司法權區現行相應稅率計算。於兩
taxation ruling in the relevant jurisdictions. During both periods, 個期間內,若干中國附屬公司須根據有關中國
certain PRC subsidiaries subject to tax at a reduced rate of 15% 稅務條例及法規按已調減稅率15%繳稅。

under the relevant PRC tax rules and regulations.

8. DIVIDENDS
8. 股息
The Board has resolved not to declare an interim dividend for the six
董事會議決不宣派截至二零二零年六月三十日

months ended 30 June 2020 (six months ended 30 June 2019: Nil).
止六個月中期股息(截至二零一九年六月三十日
止六個月:無)。



9.
EARNINGS PER SHARE 9. 每股盈利
(a) Basic earnings per share
(a) 每股基本盈利
The calculation of the basic earnings per share for the 截至二零二零年六月三十日止六個月之
six months ended 30 June 2020 are based on the profit 每股基本盈利乃按本公司普通股股權股
attributable to ordinary equity shareholders of the Company 東應佔溢利約2,869,000美元(截至二零
of approximately US$2,869,000 (six months ended 30 一九年六月三十日止六個月:7,545,000June 2019: US$7,545,000) and the weighted average 美元)及期內已發行普通股加權平均數
number of 3,023,170,000 (six months ended 30 June 2019: 3,023,170,000股(截至二零一九年六月三
2,664,492,000) ordinary shares in issue during the period. 十日止六個月:2,664,492,000股)計算。



(b) Diluted earnings per share
(b) 每股攤薄盈利
Diluted earnings per share equals to basic earnings per share 由於沒有發行在外的潛在普通股,故截至
for the six months ended 30 June 2020 and 2019 because 二零二零年及二零一九年六月三十日止六
there were no potential ordinary shares outstanding. 個月的每股攤薄盈利相等於每股基本盈

利。



10. PROPERTY, PLANT AND EQUIPMENT
10. 物業、廠房及設備
During the period, additions to property, plant and equipment 期內添置之物業、廠房及設備約為29,000美元
amounted to approximately US$29,000 (six months ended 30 June (截至二零一九年六月三十日止六個月:
68,0002019: US$68,000). 美元)。




11. TRADE AND OTHER RECEIVABLES 11. 貿易應收及其他應收款項
As at
30 June
2020
於二零二零年
六月三十日
US$’000
千美元
(unaudited)
(未經審核)
114,903
(58,994)
55,909
18,649
2,554
77,112

77,112
As at
31 December
2019

於二零一九年
十二月三十一日


US$’000

千美元


Trade debtors and bills receivables貿易應收賬款及應收票據


103,986
Less: loss allowances減:虧損撥備


(61,032)
42,954
Other receivables, prepayments and 其他應收款項、預付款及按金
deposits

15,517
Notes receivables carried at amortised 應收票據以攤銷成本及相關應收
cost and related interest receivables利息列賬


6,413
64,884
Less: Non-current portion of prepayments減:非即期部分預付款


(60)
64,824
The credit terms offered by the Group to its customers differ
with each product/service. The credit terms offered to customers
of oilfield expendables and supplies and asset management and
engineering services are normally 30 to 90 days. The credit terms
offered to customers of capital equipment and packages are
negotiated on a case-by-case basis. Deposits ranging from 10%
to 30% of the contract sum are usually required. The balance
of 60% to 85% would be payable upon contract milestones
being completed. The remaining 5% to 10% of the contract sum
represents the retention money and is payable within up to 18
months after delivery of the products or 1 year after completion of
the onsite testing, whichever is earlier.

本集團向其客戶提供的信貸期因產品╱服務不
同而有所不同。油田耗材及物料及資產管理及
工程服務的客戶獲提供的信貸期一般為30至90
天,而資本設備及總包的客戶獲授的信貸期則
按個別情況磋商。一般要求介乎合約金額10%
至30%的按金。餘額中60%至85%將須按合約
完成的進度支付。合約金額餘下的5%至10%
為保留金,於付運產品後的18個月或通過實地
測試後一年(以較早者為準)內支付。



11. TRADE AND OTHER RECEIVABLES (Continued) 11. 貿易應收及其他應收款項(續)
The ageing analysis of trade debtors and bills receivables (net of loss 貿易應收賬款及應收票據(扣除虧損撥備)根據
allowance), based on invoice date is as follows: 發票日期之賬齡分析如下:


As at
30 June
2020
於二零二零年
六月三十日
US$’000
千美元
(unaudited)
(未經審核)
14,321
7,712
7,902
9,140
16,834
41,588
55,909
As at
31 December

於二零一九年
十二月三十一日


US$’000

千美元


Current即期


15,093
Less than 1 month past due逾期少於一個月


4,889
More than 1 month but within 逾期一至三個月
3 months past due

3,085
More than 3 months but within 逾期多於三個月至包括十二個月
12 months past due

7,700
More than 12 months past due逾期多於十二個月


12,187
Amounts past due逾期款項
27,861

42,954

12. TRADE AND OTHER PAYABLES 12. 貿易應付及其他應付款項
As at
30 June
2020
於二零二零年
六月三十日
US$’000
千美元
(unaudited)
(未經審核)
180,426
9,133
5,720
195,279
As at
31 December

於二零一九年
十二月三十一日


US$’000

千美元


Trade creditors and bills payables貿易應付賬款及應付票據


175,093
Other payables and accrued charges其他應付款項及應計開支


8,324
Amount due to joint venture應付合營公司款項


6,000
189,417


12. TRADE AND OTHER PAYABLES (Continued) 12. 貿易應付及其他應付款項(續)
Trade creditors and bills payable with the following ageing analysis 於報告期末,貿易應付賬款及應付票據之賬齡
as of the end of the reporting period: 分析如下:


As at
30 June
2020
於二零二零年
六月三十日
US$’000
千美元
(unaudited)
(未經審核)
163,946
2,224
8,280
1,510
4,466
180,426
As at
31 December
2019

於二零一九年
十二月三十一日


US$’000

千美元


Within 1 month一個月內


160,767
More than 1 month but within 3 months超過一個月至包括三個月


3,745
More than 3 months but within 超過三個月至包括十二個月
12 months

4,742
More than 12 months but within 超過十二個月至包括二十四個月
24 months

2,615
More than 24 months超過二十四個月


3,224
175,093

13. EMPLOYEE SHARE-BASED ARRANGEMENT
The Group operates a share award plan as part of the benefits of
its employees. Under the share award plan, the Board is allowed to
make awards as long-term incentives for selected senior executives
of the Group in addition to share option plan which they may be
eligible to receive under the share award plan.

During the six months ended 30 June 2020, no shares were granted
under the share award plan.

13. 僱員股份安排
本集團採用一項股份獎勵計劃作為其僱員福利
的一部分。股份獎勵計劃容許董事會授予獎
勵,作為本集團若干入選高級行政人員在股份
獎勵計劃項下有可能合資格收取的購股權計劃
以外另行給予的長期獎勵。


截至二零二零年六月三十日止六個月內並無根
據股份獎勵計劃授出任何股份。



OVERVIEW

CMIC Ocean En-Tech Holding Co., Ltd. (“CMIC” or the “Company”,
formerly known as “TSC Group Holdings Limited”) was incorporated in
the Cayman Islands and its shares are listed on the Main Board of The
Stock Exchange of Hong Kong Limited (the “Stock Exchange”). The
Company and its global subsidiaries (the “Group”) are primarily engaged
in asset investment and operation management of offshore platforms;
design, manufacturing and service of oil and gas exploration and
development and offshore engineering equipment and packages; and
clean energy and technology investments.

In 2019, the Company made a breakthrough in the business of asset
investment and operation management of offshore engineering platforms
of Wealthy Marvel Enterprises Limited (the “JV” or “WME”), the joint
venture of the Company and its substantial shareholder, China Merchants
& Great Wall Ocean Strategy & Technology Fund (L.P.) (the“Fund”),
and operated eight jack-up drilling rigs by way of lease or sale. In 2020,
the business of asset management of offshore engineering platforms
continued to bring stable revenue to the Company. Its two CJ46 drilling
rigs have been providing smooth services to Abu Dhabi National Oil
Company for 18 months. TSC Offshore Corporation, a wholly-owned
subsidiary of the Company, won the contract for the offshore drilling
rig service project of Pemex, the national oil company of Mexico in
September last year, providing PEMEX with two JU2000 jack-up drilling
rigs. The rigs arrived Mexico in December last year. Currently, the two
rigs are in operation in the region and are well received by the customers
of PEMEX. The Company will continue its in-depth development and
business expansion in the asset operation and management of offshore
engineering platforms.

After many years of development, the businesses of oil and gas
exploration and development and offshore engineering equipment
and packages of the Company have become world leading. The
principal businesses include the design, manufacture, installation and
commissioning of onshore and offshore drilling rig equipment and
packages, oil field engineering operation and maintenance as well
as supply chain services. Specific equipment products include cranes,
machine rack pipes, jacking systems, power control and transmission
systems, tension adjustment and compensation devices and systems, etc.;
and oilfield expendables, accessories and parts manufacturing, sale and
repair services.

The Company pays close attention to the development of clean energy
and technology related industries, proactively looks for the opportunities
for investment and consolidation with marine energy science and
technology related industries to realise synergistic effects of each business
segments through investing in the undervalued opportunities along
the industrial supply chain to enhance the overall performance of our
business and maximise the interest of the shareholders and investors.

概覽

華商國際海洋能源科技控股有限公司(簡稱「華商國
際」或「本公司」,原「
TSC集團控股有限公司」)於開曼
群島註冊成立,其股份在香港聯合交易所有限公司
(「聯交所」)主板上市。本公司及其全球附屬公司(合
稱「本集團」)的主營業務為海洋工程平台資產投資及
運營管理,油氣勘探開發和海洋工程裝備及設備總
包設計、製造與服務,以及清潔能源和科技投資業

務。


本公司與大股東招商局長城海洋科技戰略發展產
業基金(簡稱「海洋科技基金」)的合資公司(Wealthy
Marvel Enterprises Limited,「合資公司」或「
WME」
的海洋工程平台資產投資及運營管理業務於2019
年取得突破性進展,通過出租或出售方式運作了8
座自升式鑽井平台。2020年海洋工程平台資產管
理業務繼續為本公司帶來穩定收益。其擁有的兩
座CJ46型鑽井平台已經為阿布扎比國際石油公司
順利作業了18個月。本公司的全資附屬公司TSC
Offshore Corporation去年9月份中標墨西哥國際石油
公司
(PEMEX)海上鑽井服務項目,為
PEMEX提供
2座
JU2000型自升式鑽井平台,作業平台於去年12月份
抵達墨西哥,目前兩座平台在該地區作業中,受到
客戶
PEMEX的好評。本公司將繼續在海洋工程平台
資產運營管理方向上進行深耕和業務拓展。


本公司油氣勘探開發和海洋工程裝備及設備總包業
務經過多年發展已到達世界領先水平,主要業務包
括:陸上及海洋鑽機設備及總包的設計、製造、安
裝及調試,油田運維與供應鏈服務等。具體設備產
品包括:吊機、機械排管、升降系統、電力控制及
傳動系統、張力調整及補償裝置及系統等;以及油
田耗材、配件及零件製造、銷售和維修服務等。


本公司密切關注清潔能源和智能科技相關產業發
展,積極尋求海洋能源科技相關產業投資和整合機
會,通過對產業鏈價值窪地的投資,實現公司各業
務板塊協同聯動效應,提升公司整體業績表現,實
現股東和投資者利益最大化。



STRATEGY AND PROSPECTS
INDUSTRY REVIEW

1.
Crude oil market trend: the price of crude oil
fluctuated sharply
Since 2020, due to the global spread of the Coronavirus Disease
2019 (the “COVID-19”), although the global supply chain, industry
chain and value chain have been hit hard, the economic turmoil
caused by it is different from the economic recession in 1929 and
the subprime mortgage crisis in 2008 where the internal imbalance
of the economy is not prominent. The social distancing and
shutdown of economic activities caused by the COVID-19 pandemic
have resulted in the decline of both the supply and demand, and
the crisis of the real economy gives mixed messages to the financial
market. It still takes some time for carious economies to restore and
recover, but the theoretically the time of recovery must be shorter
than that of 2008 and 1929.

Due to the profound stagnation of economic activities caused by
the COVID-19 pandemic, demand for crude oil dropped significantly
and the supply imbalance caused the prices of WTI crude oil and
Brent crude oil to fall rapidly in the first half year of 2020. As a
result of the production reduction agreement between the OPEC
and various countries, the oil price gradually recovered to the level
of approximately US$40 per barrel. According to the analysis of
Rystad, an internationally renowned research institute, demand
for oil saw a V-shaped trend where it hit the lowest point in April
2020 and improved in May 2020. It is expected that the average
demand for oil throughout 2020 will be 8,700 to 8,800 barrels per
day, down by 10.9% from 2019, and the average demand for oil in
2021 will be 9,300 to 9,700 barrels per day. By 2021, the market
will further recover and is expected to fully resume the level of
demand between 2022 and 2023.

2.
The recovery of offshore drilling market was
affected by the COVID-19 pandemic
The offshore drilling market is highly cyclical and has a cycle
of approximately 5 to 6 years. In 2019, as the supply-demand
relationship further improved, the daily rate of rigs saw significant
signs of recovery. To put it this way, various indicators will continue
to recover in 2020 based on historical pattern if not affected by the
COVID-19 pandemic. The offshore drilling market is in the upstream
of offshore oil exploration. Since the COVID-19 outbreak, major
oil companies have started cutting their capital expenditures by
approximately US$62.5 billion, about 27% lower than the budget.
According to the latest market analysis report of JP Morgan, an
internationally renowned investment bank, the overall capital
expenditure of the drilling industry is expected to decrease by 25%
in 2020 from 2019. The COVID-19 pandemic has a relatively smaller
impact on the shallow water drilling market, with the shale oil
exploration being the hardest hit segment, followed by oil sands,
medium to deep water drilling market and FPSO.

策略及前景
行業回顧


1.
原油市場變化趨勢:原油價格劇烈波動
進入2020年以來,由於2019冠狀病毒病疫情

(簡稱「疫情」)的全球性爆發,雖重創全球供應
鏈、產業鏈、價值鏈,但造成的經濟動蕩與
1929年經濟蕭條、2008年次貸危機不同,經濟
內部不平衡問題並不突出,疫情帶來的社交隔
離及經濟活動被迫停止,造成了供給端與需求
端同時下滑,實體經濟危機向金融市場不平衡
傳導。各國經濟的修復與復甦仍然需要一段時
間,但理論上恢復時間要比2008年和1929年
短。


由於本次疫情帶來的經濟活動的深度停滯,因
此,原油需求大幅下滑,供給失衡,導致2020
年上半年紐約原油期貨和布倫特原油價格迅速
下跌。而隨著
OPEC+各國的協議性減產,石油
價格逐步恢復到
40美元左右╱桶的水平。根
據國際知名研究機構Rystad分析,石油需求呈
V字形,在2020年4月達到低點,並在5月有所
改善;
2020年的平均需求預計為
8700–8800萬
桶╱天,比2019年下降10.9%,預計2021年
平均需求預計為
9300–9700萬桶╱天;到
2021
年,市場會進一步復甦,完全恢復到2019年需
求水平,估計要到2022–2023年。



2.
海上鑽井市場復甦進程受疫情影響
海上鑽井市場週期性很強,大約5–6年一個週
期。2019年隨著供需關係的進一步改善,平
台日費率回升跡象明顯。可以說,按照歷史規
律,若非疫情影響,2020年各項指標將繼續回
暖。海上鑽井市場處於海上石油開採的上游,
新冠疫情以來,各大石油公司開始陸續削減資
本開支,削減額度約625億美元,比預算降低
約27%。根據國際知名投資銀行JP Morgan最新
一期的市場分析報告,預計鑽井行業資本支出
2020年整體較2019年降低25%。本次疫情對淺
水鑽井市場影響程度相對最小,受影響幅度最
大的是頁岩油開採,其次是油砂、中深水鑽井
市場和FPSO等。




In the long run, in order to maintain the balance of oil exploration
and production, there is huge room for the growth of capital
expenditure on oil exploration in the future. As the demand for oil
gradually recovers, the capital expenditure on upstream exploration
will also be resumed. On the other hand, the longer the impact
of the COVID-19 pandemic, the more suppressed is the upstream
capital expenditure. The “rebound” growth upon recovery of oil
demand will be faster and the first recovery will definitely be the
upstream exploration and drilling business.

3.
Demand and supply of offshore drilling platforms
The global offshore drilling market faced serious oversupply after
the offshore drilling market rout in 2014. The year 2016 marked the
year with the world’s largest number of offshore shallow water jackup
rigs cumulatively. With the absorption of inventory of offshore
drilling rigs in the following three to four years due to reasons
including ship owners’ abandonment, shipyard suspension and
bankruptcy restructuring, there were more than 40 offshore drilling
rigs remained in the shipyard’s inventory.

Affected by the COVID-19 pandemic, the drilling rig contracts are
cancelled or delayed and the daily rate of rigs already entered into
contract is subject to adjustment and it is highly likely that the
offshore drilling rig contracts proposed to commence this year or
next year will be postponed or cancelled. Those affected drilling
rigs will be stacked. If they are idle for a long period of term,
the possibility of reactivation will be greatly reduced, or they will
be directly abandoned. In other words, although the COVID-19
pandemic has postponed the recovery of the offshore drilling
industry, it will also further accelerate the exit of old drilling rigs
(especially old drilling rigs without long-term leases) from the
market, which acts as a “catalyst” to regulate the supply and
demand of the market.

According to the statistics of Clarksons, an analytics company, as of
the first half year of 2020, the demand for offshore jack-up drilling
rigs amounted to 355, with a utilisation rate of 73%. It is expected
that the demand for jack-up drilling rigs will be 324 by the end of
2020, with a utilisation rate of 68%.

From the perspective of drilling rig leases, as of June 2020, the
average wet lease daily rate for global offshore jack-up rigs
decreased by 10% to US$86,000 per day from the end of 2019.
In particular, the average wet lease rate for standard jack-up rigs
was US$56,000 per day and the average wet lease rate for highspec
jack-up rigs was US$106,000 per day. In the first half of the
year, the daily rate of rigs in the area where CMIC’s drilling rigs are
located was not affected.

從長遠來看,為了保持石油勘探產量的平衡,
未來石油勘探資本支出增幅空間巨大。而隨著
石油需求的逐步恢復,上游勘探資本支出也會
相應恢復;從另一方面而言,疫情的影響越
久,對上游資本支出抑制越厲害,在石油需求
恢復時「回彈式」的增速也將越快,而最先恢復
的必將是上游勘探與鑽井業務。



3.
海上鑽進平台供需
海上鑽井市場自2014年斷崖式下跌後,全球海
上鑽井平台處於嚴重的供大於求局面。2016年
是全球海上淺水自升式平台累計總量最多的一
年,隨著3–4年間海上鑽進平台庫存的消化,
包括船東棄船、船廠停產、破產重組等,還留
在船廠尚未去庫存的海上鑽井平台剩餘
40餘
座。


隨著疫情的影響,鑽井平台會出現合同取消、
延期風險,已簽合約的平台面臨日費率調整的
風險,擬今年或明年投入計劃的海上鑽進平台
合約會被延遲或取消概率更大。這部分受影響
的鑽井平台將進入暖停或冷停,若長時間閑
置,重新啓動的可能性將大大降低,或直接進
入報廢。可以說,疫情的影響雖然延後了海上
鑽井行業回暖的時間,但也會進一步加速老舊
鑽井平台(尤其是長期無租約的老舊鑽井平台)
退出市場,對調節市場供需結構有一定「催化」
作用。


根據分析機構Clarksons的統計,截止2020年上
半年,海上自升式鑽井平台需求為355艘,平
台利用率為
73%,預計2020年底自升式平台需
求為324艘,平台利用率為68%。


從鑽井平台的租約來看,截至
2020年6月,全
球海上自升式鑽井裝置平均濕租日費率相比
2019年末下降10%至8.6萬美元╱天。其中,
標準自升式平台的平均濕租日費率為5.6萬美
元╱天,高規格自升式鑽井平台平均濕租日費
率為10.6萬美元╱天。上半年,華商國際旗下
的鑽井平台所在作業區的日費率尚未受到影
響。



4.
Offshore drilling platform operators 4. 海上鑽井平台運營商
Since 2014, industry concentration has been accelerating. In
recent five to six years, Valaris has become the largest fleet owner
after merger between Ensco and Rowan. In 2019, Hercules went
bankrupt. Paragon was established after spin-off of part of Noble’s
shallow water drilling platform. Borr Drilling acquired part of
Paragon’s shallow water drilling platform assets and second-hand
assets to rapidly expand its fleet size. Upon merger between NDC
and ADNOC, the shallow water drilling rigs have been incorporated
into ADNOC. Maersk is principally engaged in deep water drilling
business and has narrowed its business of shallow water drilling rigs
in other regions to the North Sea region.

According to the statistics of Clarksons, the number of platforms
owned by the top 20 companies in the industry accounted for
53% of the total in 2016 and 61% in 2020, reflecting a moderate
to strong industry concentration toward leading players. The jackup
drilling rigs market has been relatively fragmented. It is likely
that small drilling companies may go bankrupt or actively seek
integration as a result of the COVID-19 outbreak. The sudden
COVID-19 outbreak will, to a certain extent, accelerate industry
consolidation.

As of the first half year of 2020, in terms of the number of jack-up
drilling rigs, Valaris had 50 jack-up drilling rigs; Shelf Drilling ranked
second with 37 jack-up drilling rigs; CNOOC ranked third with 33
jack-up drilling rigs; and Borr Drilling ranked fourth with 28 jack-up
drilling rigs.

The increase in industry concentration also reflected:

1) Leading players are gradually gaining market competitiveness,
which can further enhance their market bargaining power and
stimulate the rapid recovery of the rental market.
2) Leading players are gradually integrating small offshore
drilling operators to effectively adjust platform resources, thus
accelerating the exit of old platforms without leases.
3) The leasing market of offshore drilling industry itself is relatively
closed, with its own market rules, and it is never possible to
secure a lease through price war (by lowering the price). It is
easier for large-scale and credible offshore drilling operators
that have a long-term relationship with large oil companies to
obtain leases and therefore they are strong competitors in the
market.

自2014年以來,行業集中化程度在加快,在這
5–6年中,Ensco與Rowan兩家公司合併,成為
船隊數量最大的
Valaris;Hercules公司在
2019
年已破產;Noble部分淺水鑽井平台剝離成立
Paragon公司,Borr Drilling收購Paragon部分淺
水鑽井平台資產及二手資產迅速擴大船隊規
模;NDC與ADNOC合併,淺水鑽井平台併入
ADNOC;Maersk主要從事深水鑽井業務,其他
地區淺水鑽井平台業務收縮至北海地區。


根據Clarksons數據統計,2016年行業前20名
公司擁有平台數量佔總量的53%,2020年為
61%,行業集中度增強,向頭部企業集中。自
升式鑽井平台市場原本比較分散,小型鑽井公
司可能會因為本次疫情的衝擊走向破產或主動
尋求整合。突如其來的疫情在某種程度上將加
快行業整合。


截止2020年上半年,從自升式鑽井平台擁有量
來看,Valaris擁有自升式鑽井平台50座;Shelf
Drilling擁有37座自升式鑽井平台排名第二;中
海油擁有33座自升式鑽井平台排名第三;Borr
Drilling目前擁有28座自升式鑽井平台,排名第
四。


行業集中度的增強,也體現出:


1)
市場競爭力逐步向頭部企業集中,可進一
步提升市場議價能力,也會刺激租金市場
快速回升。

2)
頭部企業逐步對小型海上鑽井運營商的整
合,使平台資源得到有效調節,將加速無
租約老舊平台退出市場。

3)
海上鑽井行業的尋租市場本身就相對封
閉,有自身的市場規則,而絕非是靠打價
格戰(壓低價格)就能穩獲租約。規模大、
信譽好、與大型石油公司有長期合作關係
的海上鑽井運營商更容易獲得租約,是市
場的有力競爭者。


5. Land oil drilling activities 5. 陸地石油鑽探活動
The world’s land drilling rigs are mainly located in the United States,
Canada, China and Russia. According to Rystad, an internationally
renowned research institute, the land drilling activities and number
of drilling rigs in the United States in 2020 has reached the “lowest
point” in nearly three decades. Since the end of 2014, the land
drilling rigs in operation in the United States has dropped sharply,
from approximately 1,900 rigs at the end of 2014 to 379 rigs in
May 2016, the lowest point, in one and a half years’ time. Since
mid-2016, the international oil and gas market has bottomed out
and picked up and showed a turnaround trend. The land oil and
gas drilling activities and number of drilling rigs in the United States
gradually increased to 747 rigs at the end of 2017 and further
increased to 883 rigs at the end of 2018. At the end of 2019, the
number of land drilling rigs in operation in the United States at the
end of 2019 was 805 rigs, slightly less than that in 2018. Since
the beginning of April 2020, the number of drilling rigs has fallen
to 664 rigs affected by the COVID-19 outbreak, which further
decreased to 265 as at 30 June, marking an extremely historical
low since 1975. It is expected that with the gradual control of the
pandemic worldwide in the second half of the year, the number of
land oil drilling rigs in the United States will begin to stabilise and
pick up, and some drilling operators have started to resume drilling
operations at the prevailing Brent crude oil price of US$40 per
barrel.

On the contrary to the downturn of land oil and gas market in the
United States, the land oil and gas exploration in China has been
booming in the recent two years. As a result of the increasing
reliance of China on oil imports, the PRC government has called for
greater efforts in exploration and development to ensure national
energy security. Since 2018, various oil and gas development
and exploration enterprises have successively took part in the
large-scale oil battle. In early 2019, in view of the then resource
situation, CNPC, Sinopec and CNOOC proposed to raise the annual
production target and formulated the “seven-year action plan”
respectively. Xinjiang Oilfield, Qinghai Oilfield and Tuha Oilfield,
which are located in the western part of China, have successively
launched their battle of enhanced productivity, and CNPC Xibu
Drilling closely followed the target of expanding reserves and
increasing productivity of the three major oil fields in the western
part of China and carried out the “100-day battle”. With respect
to CNPC’s drilling project in Sichuan and Chongqing, 148 teams
participated in the drilling of the Changqing well, utilising more
than 300 drilling rigs, with a cumulative drilling footage of 5.4
million meters per year and more than 7,000 layers of fracturing
acidification, both setting a record high.

全球陸地鑽機主要集中在美國、加拿大、中
國和俄羅斯。國際知名研究機構Rystad指出,
2020年美國陸地鑽探活動和鑽機數量已達到近
30年來「最低點」。從2014年底開始美國陸上開
動鑽機數急劇下滑,在
1年半的時間從
2014年
底約1900台到2016年5月觸底降至了379台。

從2016年中期開始,國際油氣市場由低谷回
升,形勢開始逆轉。美國陸上油氣鑽採活動和
鑽機數量逐漸增加,2017年底增加至747台,
2018年底進一步增加至883台。2019年底美
國活躍的陸地鑽機數量為805座,數量略少於
2018年。從
2020年4月初鑽採活動鑽機數量開
始受到新冠疫情的影響,數量下降到664座,
到6月30日進一步下降到265座。是1975年以來
的歷史極低水平。預計下半年隨著全球疫情的
逐漸控制,美國陸地石油鑽井數量將開始企穩
回升,一些鑽井運營商已開始在當前Brent原油
40美元的價格下恢復鑽井作業。


與美國陸地油氣的低迷相反,國內陸地油氣勘
探最近兩年一直處於高景氣狀態。隨著中國石
油對外依存度不斷增加,中國政府要求加大勘
探開發力度,保障國家能源安全。從2018年開
始,各油氣勘探開採企業相繼組織了大規模的
石油會戰。2019年初中石油、中石化、中海油
針對資源現狀,提出了提高年度產量目標,分
別制定了「七年行動計劃」。地處西部的新疆油
田公司、青海油田公司、吐哈油田公司相繼掀
起奪油上產會戰熱潮,中石油西部鑽探公司緊
跟西部三大油田增儲上產目標,進行了「百日
會戰」。中國石油川慶鑽探長慶鑽井的148支隊
伍,300多部鑽機全部動用,年累計鑽井進尺
達540萬米,壓裂酸化超過7000層,均創歷年
最高記錄。




In May 2020, National Development and Reform Commission and
National Energy Administration jointly issued the Guiding Opinions
on 2020 Tasks for Energy Security, which provides guidelines on
investment in exploration and development, construction of key
oil and gas basins, development of unconventional oil and gas
resources and other major areas, calling for proactive efforts to
stabilise production and increase production of oil and gas in China
as well as requiring complete accomplishment of the “seven-year
action plan” from 2019 to 2025. Amid the prevailing sluggish
oil and gas industry, the promulgation of the above has firmly
established the state’s belief in the long-term development of the oil
and gas industry in China. From the policy perspective, the state has
clearly defined the development direction for the oil industry, and
increased efforts in oil and gas exploration and development will
continue to be the main axis in the long-term, and the coming years
remain the key period for China’s oil battle.

6.
Offshore wind power installation market
In 2018, the world’s offshore wind power installed capacity
increased by 4.3GW and the total installed capacity reached
23GW. In 2019, the newly installed capacity of offshore wind
power worldwide was 5.2GW, setting a record high in terms of
new installed capacity in a single year. 16 new offshore wind farms
were put into operation in China, the United Kingdom, Germany,
Denmark, Belgium, Taiwan and other regions.

The world’s offshore wind power has been growing rapidly each
year since 2010, with an average annual growth rate of nearly
30%. According to Offshore Wind Outlook 2019, the latest report
from the International Energy Agency, it is expected that the wind
power deployment in Asia’s waters (mainly China, India, Taipei of
China, South Korea, Japan, Indonesia, the Philippines and Vietnam)
will undergo dramatic changes in the next three decades, where
Asia will eventually dominate the world’s offshore wind power
generation facilities market, with a total capacity of over 100GW
by 2030 and over 600GW by 2050. China will see significant
development in the offshore wind power industry, with China’s
installed capacity reaching approximately 56GW by 2030 and
382GW by 2050. The rapid growth of the offshore wind power
installation market will increase the demand for offshore wind
power installation, operation and maintenance related vessels,
equipment and spare parts accordingly.

2020年5月國家發改委、國家能源局聯合發佈
了《關於做好
2020年能源安全保障工作的指導
意見》,該意見對勘探開發投資、重點含油氣
盆地建設、非常規油氣資源發展等幾大領域做
出指示,要求積極推動國內油氣穩產增產,
要求不折不扣的完成2019–2025「七年行動計
劃」。對於當前低迷的油氣行業而言,國家層
面的發聲為國內油氣行業的長效發展堅定了信
念。國家從政策層面為石油行業明確了發展的
航向,加大油氣勘探開發力度將繼續作為長期
主線,未來數年依然是國內爭油奪氣的關鍵
期。



6.
海上風電安裝市場
2018年全球海上風電裝機容量新增4.3GW,總
裝機容量達23GW。2019年全球海上風電新增
裝機容量5.2GW,單年新增裝機創歷史新高。

16個新建海上風電場投運,分佈在中國、英
國、德國、丹麥、比利時、台灣等地區。


自2010年起每年全球海上風電一直保持快速增
長,年均增長率接近30%。根據國際能源機構
的最新報告《Offshore Wind Outlook 2019》預
測,未來30年亞洲海域(主要是中國、印度、
中國台北、韓國、日本、印度尼西亞、菲律賓
和越南)的風電部署將發生顯著變化,亞洲市
場最終將主導全球海上風力發電設施,到2030
年總容量將超過100 GW,到2050年將超過
600GW。中國的海上風電將有顯著的發展,到
2030年中國的裝機容量將達到約
56GW,2050
年將達到
382GW。海上風電安裝市場的快速持
續增長,會相應拉升對海上風電安裝和運維相
關的船舶、設備及零部件的需求。




BUSINESS REVIEW

In the first half year of 2020, faced with the uncertainties brought by the
COVID-19 pandemic and the declining industry demand, CMIC achieved
business growth amid adversity as compared to the same period of last
year through proactive business expansion and continued efforts to
reduce costs and enhance efficiencies.

Facing the downturn of the overall oil and gas, offshore engineering
and offshore drilling markets, the Company adjusted its business
direction and key target markets in a timely manner. While focusing on
the development of wind power installation platforms and equipment
market, the Company’s jacking systems have been installed and used in
a number of wind power installation platforms, making the Company
one of the few companies in the world that can provide such products. In
terms of key regional markets, the Company continued to exert efforts in
the hotspot oil and gas regional markets, such as the oil and gas markets
in western China, Sichuan and Chongqing and the regional market in
Mexico, and secured large orders and sales revenue in these markets in
the first half of the year, including power control system, modification of
drilling rigs, spare parts supply and platform leasing.

In respect of offshore asset leasing business, the two CJ46 jack-up drilling
rigs owned by WME, a joint venture of the Group, have continued to
provide drilling services to the Abu Dhabi National Oil Company since the
beginning of this year, and the rigs are in good operating condition. With
respect to the Mexico project, the two JU2000E jack-up drilling rigs have
started providing drilling services to the national oil company of Mexico
since April this year, and are well received by customers and have the
opportunity to secure additional incentive service orders.

In terms of new product development, the Company actively maintained
cooperation with key customers, universities and research institutes to
generate synergies from industry-university-research cooperation. Coupled
with its own engineering and technological advantages, the Company
specialised in the new target markets to carry out product research and
development, including smart cranes and mechanized equipment for rigs,
to maintain ongoing product competitiveness.

In terms of cost reduction and efficiency enhancement, the Company
improved management efficiency and reduced management costs
through optimising business segment, streamlining organisation,
and shutting down redundant companies at home and abroad. By
strengthening the control of cash costs, disposal of old inventories and
low-efficiency assets, and collection of accounts receivable, especially
accounts receivable with provisions made, the Company accelerated the
recovery of funds and improved the cash flow position.

業務回顧


2020年上半年,面對疫情帶來的不確定性及行業
需求下滑,華商國際通過積極的業務拓展和持續的
降本增效,相比去年同期,在逆境中實現了業務增
長。


面對油氣和海工鑽井海洋整體市場萎靡形勢,公司
及時調整了業務方向和重點目標市場。一方面重點
開拓風電安裝平台及裝備市場,本公司的升降系統
已在多艘風電安裝平台安裝使用,是國際上少數幾
個能夠提供該類產品的公司之一。在重點區域市場
方面,公司繼續在油氣熱點區域市場上發力,如中
國西部及川慶油氣市場和墨西哥區域市場等,公司
上半年在這些市場實現了較大額訂單和銷售收入,
包括電控系統、鑽機改造、備件供應,以及平台租
賃等。


在海工資產租賃業務方面,下屬合資公司WME公司
所有的2座CJ46自升式平台,今年以來持續為阿布
扎比國家石油公司提供鑽井作業服務,運營狀況良
好。墨西哥項目兩艘JU2000E型自升式平台,今年
4月份開始為墨西哥國家石油公司提供鑽井作業服
務,受到客戶的好評,有爭取到額外獎勵性服務訂
單的機會。


在新產品開發方面,公司積極與重點客戶、高等院
校和科研院所保持合作,產學聯動,結合自身工程
和技術優勢,針對新的目標市場開展產品研發工
作,包括智能吊機、鑽機機械化設備等,保持產品
持續競爭力。


在降本增效方面,公司通過業務板塊優化,精簡機
構,關停國內外冗餘公司,提高管理效率,降低管
理成本;通過加強對付現成本的控制,舊庫存和低
效資產的處置,應收賬款特別是已撥備應收賬款的
催收,加快資金回流,改善現金流狀況。




In the first half year of 2020, the Company’s sales revenue amounted to 2020年上半年,公司銷售收入31.2百萬美元,比去
US$31.2 million, representing a decrease of 3.8% over the same period 年同期下降3.8%,截止6月底,股權股東應佔淨溢
last year. As at the end of June, the net profit attributable to equity 利的2.9百萬美元,比去年同期下降62%。

shareholders was approximately US$2.9 million, representing a decrease
of 62% over the same period last year.

FINANCIAL REVIEW 財務回顧


2020 2019 Change
二零二零年二零一九年變動
US$’000 US$’000 US$’000 %
千美元千美元千美元
%

Revenue收入31,171
Gross Profit毛利10,149
Gross Profit Margin毛利率32.6%
Profit from operations經營溢利3,653
Net profit attributable to equity shareholders股權股東應佔之淨溢利2,869
Net profit Margin淨溢利率9.3%
Earnings per Share 每股盈利US$0.10 cent
0.10美仙(Basic and diluted)(基本及攤薄)
32,386 (1,215) (3.8)
9,885 264 2.7
30.5%
1,042 2,611 250.6
7,545 (4,676) (62.0)
23.2%
US$0.28 cent
0.28美仙
Revenue

The Group’s revenue decreased from US$32.4 million in the first half year
of 2019 to US$31.2 million in the first half year of 2020. The decrease
of such revenue was mainly due to drop in orders delivered to customers
under COVID-19 pandemic around the world.

Segment Information by Business Segments

2020

二零二零年

US$’000 %
千美元
%

Capital Equipment and
Packages
資本設備及總包
Oilfield Expendables and
Supplies
油田耗材及物料
Asset Management and
Engineering Services
資產管理及工程
服務
6,826 24.4
20,966 73.3
3,379 2.3

Total revenue收入合計
31,171 100.0

收入

本集團收入從二零一九年上半年的32.4百萬美元減
少至二零二零年上半年的31.2百萬美元。收入減少
主要由於全球爆發新型冠狀病毒導致向客戶交付訂
單下降。


按業務分部劃分至分佈資料

2019 Increase/(decrease)
二零一九年增加╱(減少)
US$’000 % US$’000 %
千美元
%千美元
%

13,510 41.7 (6,684) (49.5)
15,054 46.5 5,912 39.3
3,822 11.8 (443) (11.6)
32,386 100.0 (1,215) (3.8)

Capital Equipment and Packages

Revenue recognised in capital equipment and packages projects
decreased by 49.5% from US$13.5 million in the first half year of 2019
to US$6.8 million in the first half year of 2020. The COVID-19 pandemic
retarded the pick-up of land rigs market and resulted to the drop of
drilling related equipment of US$6.7 million.

Oilfield Expendables and Supplies

The increase of 39.3% from US$15.1 million in the first half year of 2019
to US$21.0 million in the first half year of 2020 for oilfield expendables
and supplies was due to the increase in orders of oilfield expendables
and supplies from the markets in Mexico with the increase in drilling
operations.

Asset Management and Engineering Services

Engineering services revenue decreased from US$3.8 million in the first
half year of 2019 to US$3.4 million in the first half year of 2020 mainly
due to drop in demand.

Gross Profit and Gross Profit Margin

The gross profit in the first half year of 2020 increased by 2.7% from
US$9.9 million in the first half year of 2019 to US$10.1 million in the
same period in 2020. Gross profit margin increased from 30.5% in
the first half year of 2019 to 32.6% in the first half year of 2020. The
increase was mainly driven from project in Mexico.

Other Revenue and Net Income

Other revenue and net income slightly increased by 1.1% or US$44,000
from US$3.8 million in the first half year of 2019 to US$3.8 million in the
first half year of 2020.

Selling and Distribution Expenses

Selling and distribution expenses decreased by US$0.4 million from
US$2.5 million in the first half year of 2019 to US$2.1 million in the first
half year of 2020. Selling and distribution expenses mainly comprised of
sales staff salaries, commissions, marketing expenses including travel costs
and other sales and promotional expenditure. The decrease of selling and
distribution expenses during the year was due to the decrease in selling
expenditures under cost control in 2020.

General and Administrative Expenses

General and administrative expenses decreased from US$9.6 million in
the first half year of 2019 to US$8.2 million in the first half year of 2020.
The decrease was mainly due to decrease in staff and business activities
under the COVID-19 pandemic.

資本設備及總包

本集團基於資本設備及總包項目實現進度所確認
的收入由二零一九年上半年的
13.5百萬美元減少


49.5%至二零二零年上半年的6.8百萬美元。爆發新
型冠狀病毒拖慢了陸地鑽機市場的復甦,導致鑽機
相關設備下跌6.7百萬美元。

油田耗材及物料

油田耗材及物料收入從二零一九年上半年的15.1百
萬美元增加至二零二零年上半年的21.0百萬美元,
加幅39.3%。增長主要由於從墨西哥鑽探作業量增
加,公司油田耗材和物料訂單增加。


資產管理及工程服務

工程服務收入由二零一九年上半年的3.8百萬美元減
少至二零二零年上半年的3.4百萬美元,主要由於需
求減少導致。


毛利及毛利率

二零二零年上半年毛利為10.1百萬美元,較二零一
九年上半年
9.9百萬美元增加
2.7%。毛利率從二零
一九年上半年的30.5%增加至二零二零年上半年的


32.6%。該增加主要由於墨西哥項目帶動所致。

其他收益及淨收入

其他收益及淨收入從二零一九年上半年的3.8百萬美
元稍為增加1.1%或44,000美元至二零二零年上半年
的3.8百萬美元。


銷售及分銷開支

銷售及分銷開支由二零一九年上半年的2.5百萬美元
減少0.4百萬美元至二零二零年上半年的2.1百萬美
元。銷售及分銷開支主要包括銷售工作人員薪酬、
佣金、市場推廣開支(包括差旅費用及其他銷售及推
廣開支)。在二零二零年在緊控成本下,本年之銷售
及分銷開支減少。


一般及行政開支

一般及行政開支由二零一九年上半年的9.6百萬美元
減少至二零二零年上半年的8.2百萬美元。主要由於
減少人員及爆發新型冠狀病毒,導致縮減業務活動
所致。




Other Operating Expenses

The decrease in other operating expenses from US$0.5 million in the
first half year of 2019 to US$0.1 million in the first half year of 2020 was
mainly due to the one-time expenditure in the prior year.

Finance Costs

Finance costs, primarily interest on bank loans and interest on lease
liabilities, amounted to approximately US$1.1 million in the first half year
of 2020. It increased by US$0.5 million from US$0.6 million in the first
half year of 2019. The increase was mainly recognition of interest on
lease liabilities in the first half year of 2020.

Share of Profits of Joint Venture

The share of profits of joint venture decreased from US$7.2 million in
the first half year of 2019 to US$0.6 million in the first half year of 2020,
mainly due to the one-time gain from selling of rigs in the first half year
of 2019 and the absence of the relevant items in 2020.

Group’s Liquidity and Capital Resources

As at 30 June 2020, the Group carried tangible assets of approximately
US$46.2 million (31 December 2019: US$49.2 million) being property,
plant and equipment, investment properties, and non-current assets held
for sale under operating lease.

As at 30 June 2020, the Group’s intangible assets was approximately
US$0.3 million (31 December 2019: US$0.3 million). As at 30 June
2020, the Group’s interest in associates was approximately US$0.3
million (31 December 2019: US$0.3 million), interest in joint venture was
approximately US$40.0 million (31 December 2019: US$42.5 million)
and deferred tax assets was approximately US$1.8 million (31 December
2019: US$1.8 million).

As at 30 June 2020, the Group’s current assets amounted to
approximately US$285.8 million (31 December 2019: US$258.6 million).
Current assets mainly comprised of inventories of approximately
US$150.9 million (31 December 2019: US$149.0 million), trade and
other receivables of approximately US$77.1 million (31 December 2019:
US$64.8 million), contract assets of approximately US$1.3 million (31
December 2019: US$1.3 million) and lease receivables (current) of
approximately US$21.9 million (31 December 2019: US$3.6 million).

As at 30 June 2020, amount due from a related company amounted
to approximately US$0.1 million (31 December 2019: US$0.1 million),
pledged bank deposits amounted to approximately US$1.4 million (31
December 2019: US$1.1 million) and cash and cash equivalents amounted
to approximately US$30.1 million (31 December 2019: US$35.0 million).

其他經營開支

其他經營開支由二零一九年上半年的0.5百萬美元減
少至二零二零年上半年的0.1百萬美元,主要是上年
度的一次性支出引致。


財務成本

財務成本主要為銀行貸款之利息及租賃負債之利
息,於二零二零年上半年約為1.1百萬美元。其較二
零一九年上半年
0.6百萬美元增加
0.5百萬美元。增加
主要由於二零二零年上半年確認租賃負債之利息所
致。


分佔合營公司溢利

分佔合營公司溢利由二零一九年上半年的7.2百萬美
元減少至二零二零年上半年的0.6百萬美元。主要由
於二零一九年上半年有一次性出售平台獲利,而二
零二零年未有相關項目所致。


本集團之流動資金及資本資源

於二零二零年六月三十日,本集團的有形資產帳面
值約為46.2百萬美元(二零一九年十二月三十一日:


49.2百萬美元),包括物業、廠房及設備、投資物
業、根據經營租賃持作出售之非流動資產。

於二零二零年六月三十日,本集團的無形資產約為


0.3百萬美元(二零一九年十二月三十一日:
0.3百萬
美元)。於二零二零年六月三十日,本集團於聯營公
司的權益約為0.3百萬美元(二零一九年十二月三十
一日:0.3百萬美元)。本集團於合營公司的權益約
為40.0百萬美元(二零一九年十二月三十一日:
42.5
百萬美元)。遞延稅項資產約為1.8百萬美元(二零一
九年十二月三十一日:1.8百萬美元)。

於二零二零年六月三十日,本集團的流動資產約為


285.8百萬美元(二零一九年十二月三十一日:
258.6
百萬美元)。流動資產主要包括存貨約
150.9百萬美
元(二零一九年十二月三十一日:
149.0百萬美元)、
貿易應收及其他應收款項約77.1百萬美元(二零一九
年十二月三十一日:64.8百萬美元)。合約資產約1.3
百萬美元(二零一九年十二月三十一日:
1.3百萬美
元)、流動租賃應收款約21.9百萬美元(二零一九年十
二月三十一日年:3.6百萬美元)。

於二零二零年六月三十日,應收關聯公司的應收款
項約為0.1百萬美元(二零一九年十二月三十一日:


0.1百萬美元)、已抵押之銀行存款約為1.4百萬美元
(二零一九年十二月三十一日:
1.1百萬美元)及現金
及現金等值物約為30.1百萬美元(二零一九年十二月
三十一日:35.0百萬美元)。




As at 30 June 2020, current liabilities amounted to approximately
US$253.1 million (31 December 2019: US$228.8 million), mainly
comprised of trade and other payables of approximately US$195.3 million
(31 December 2019: US$189.5 million), bank loans of approximately
US$2.0 million (31 December 2019: US$5.0 million), and current tax
payable of approximately US$4.2 million (31 December 2019: US$4.2
million). The decrease in short-term bank loans was mainly due to the
repayment of the bank loans. Contract liabilities amounted to US$30.7
million (31 December 2019: US$29.0 million) and lease liabilities
amounted to US$20.9 million (31 December 2019: US$1.1 million).

As at 30 June 2020, the Group had non-current liabilities of approximately
US$5.8 million (31 December 2019: US$7.0 million), which comprised of
bank loans of approximately US$3.5 million (31 December 2019: US$4.2
million) and lease liabilities of approximately US$2.3 million (31 December
2019: US$2.8 million). The Group monitors capital with reference to its
debt position. The Group’s strategy is to maintain the gearing ratio, being
the Group’s total liabilities to total assets, under 100%. The gearing ratio
as at 30 June 2020 was 68.5% (31 December 2019: 66.2%).

Significant Investments and Disposals

There was no other significant investments or disposals during the
reporting period.

Capital Structure

At the beginning of the year on 1 January 2020, there were
3,069,039,117 shares in issue (the “Shares”) and the Company carried
a share capital of approximately US$39,191,000. There was no issue of
shares during the first six months of 2020.

Charges on Assets

To secure the loans from banks, the Group has charged certain assets to
banks. Details are set out as follows:

(i)
Land and buildings and plant and machinery with aggregate net
book value of US$25.0 million (2019: building, inventories, trade
receivables and plant and machinery with aggregate net book value
of US$18.9 million).
(ii)
Corporate guarantees given by the Company to the extent of
banking facilities outstanding of US$Nil (2019: US$2.2 million) as at
30 June 2020.
於二零二零年六月三十日,流動負債約為
253.1百
萬美元(二零一九年十二月三十一日:
228.8百萬美
元),主要包括貿易應付及其他應付款項約
195.3百
萬美元(二零一九年十二月三十一日:
189.5百萬美
元)、銀行貸款約2.0百萬美元(二零一九年十二月三
十一日:5.0百萬美元)及本期應付稅項約4.2百萬美
元(二零一九年十二月三十一日:
4.2百萬美元)。短
期銀行貸款減少主要因本年償還銀行貸款。合約負
債為
30.7百萬美元(二零一九年十二月三十一日:


29.0百萬美元),流動租賃負債約20.9百萬美元(二零
一九年十二月三十一日:1.1百萬美元)。

於二零二零年六月三十日,本集團的非流動負債約
為5.8百萬美元(二零一九年十二月三十一日:
7.0百
萬美元),包括銀行貸款約
3.5百萬美元(二零一九
年十二月三十一日:4.2百萬美元)及租賃負債約2.3
百萬美元(二零一九年十二月三十一日:
2.8百萬美
元),本集團會按照債務狀況監控資本狀況。本集團
的策略是維持資產負債比率(即本集團總負債除以
總資產之比率)低於100%。於二零二零年六月三十
日,資產負債比率為68.5%(二零一九年十二月三十
一日:66.2%)。


重大投資及出售

報告期內並無重大投資或出售事項。


資本結構

於年初(即二零二零年一月一日),已發行
3,069,039,117股股份(「股份」),而本公司股本約為
39,191,000美元。於二零二零年首六個月概無發行
股份。


資產抵押

為獲得銀行貸款,本集團已將若干資產抵押予銀
行。詳情載列如下:


(i)
帳面淨值總額為25.0百萬美元(二零一九年:樓
宇、存貨、貿易應收款項及廠房及機器之賬面
淨值總值總額為18.9百萬美元)之土地、樓宇及
廠房及機器。

(ii)
本公司於二零二零年六月三十日就未償還銀行
融資作出最高零美元的公司擔保(二零一九年:
2.2百萬美元)。


Certain bank loans of the Group are subject to the fulfilment of covenants
relating to statement of financial position ratios of certain subsidiaries, as
are commonly found in lending arrangements with financial institutions.
The drawn down loan balances would become payable on demand if the
covenants are breached.

The Group regularly monitors its compliance with these covenants. As at
30 June 2020, none of the covenants relating to the Group’s bank loans
had been breached.

Foreign Currency Exchange Exposures

The Group is exposed to currency risk primarily through sales and
purchases that are denominated in a currency other than the functional
currency of the operations to which they relate. The Group has foreign
exchange exposure resulting from most of the Group’s subsidiaries in the
PRC carrying out production locally using Renminbi while approximately
50% of the Group’s revenue was denominated in United States dollars.
As at 30 June 2020, no related hedges were made by the Group.

In order to mitigate that foreign exchange exposure, the Company may
utilise foreign currency forward contracts to better match the currency of
its revenues and associated costs in the future. However, the Company
does not use foreign currency forward contracts for trading or speculative
purposes. The Group will actively explore ways to hedge or reduce
currency exchange risk in future.

Staff Employees and Remuneration Policy

As at 30 June 2020, the Group had approximately 431 full-time staff
in the United States, the United Kingdom, Brazil, Mexico, Singapore,
Hong Kong and the PRC. The Group’s remuneration policy is basically
determined by the performance of individual employees and the market
conditions. The Group also provides other benefits to its employees,
including medical schemes, pension contributions, share award incentive
scheme etc.

USE OF PROCEEDS

Reference is made to the announcement of the company dated
1 February 2019 in relation to the results of the rights issue, the
supplemental announcement of the Company dated 17 September
2019 in relation to the use of proceeds under the rights issue (the
“Supplemental Announcement”) and the annual report of the Company
for the year ended 31 December 2019 published by the Company on 21
April 2020 (the “Annual Report”). Unless the context otherwise requires,
capitalised terms used herein shall have the same meaning as those
defined in the Annual Report.

本集團若干銀行貸款須受有關若干附屬公司財務狀
況表比率的契約履行所規限,而該等契約於金融機
構的借貸安排中屬常見。倘違反契約,則已提取的
貸款餘額將須按要求償還。


本集團密切監控有否遵守此等契約。於二零二零年
六月三十日,本集團並無違反有關銀行貸款的契
約。


外幣匯兌風險

本集團所面對的貨幣風險主要來自以相關業務功能
貨幣以外的貨幣計值的買賣。本集團大多數中國附
屬公司均以人民幣進行生產活動,而本集團約50%
的收益以美元計值,因而令本集團面對外匯風險。

於二零二零年六月三十日,本集團並無作出相關對
沖。


為減低外匯風險,本公司可能會使用外幣遠期合
約,使本公司收益與相關成本的貨幣日後能有較佳
配對。然而,本公司不會使用外幣遠期合約作買賣
或投機目的。本集團日後將積極尋求對沖或減低貨
幣匯兌風險的方法。


僱員及酬金政策

於二零二零年六月三十日,本集團於美國、英國、
巴西、墨西哥、新加坡、香港及中國有大約431名全
職員工。本集團的酬金政策基本上根據個別員工的
表現及市場狀況釐定。本集團亦向僱員提供其他福
利,包括醫療計劃、退休供款及股份獎勵激勵計劃
等。


所得款項用途

茲提述本公司日期為二零一九年二月一日有關供股
結果之公告、本公司日期為二零一九年九月十七日
有關供股所得款項用途之補充公告(「補充公告」)及本
公司於二零二零年四月二十一日刊發之本公司截至
二零一九年十二月三十一日止年度之年報(「年報」)。

除文義另有所指外,本報告所用詞語與通函所界定
者具有相同涵義。




Update on the Use of Proceeds from the Right Issue 有關供股所得款項用途之最新資料

Save as the disclosure in the Annual Report, the Board wishes to provide 除年報所披露者外,董事會謹此根據上市規則附錄
further information regarding the net proceeds from the rights issue 16第11(8)段提供有關於二零一九年二月完成之供股
completed in February 2019 (the “Rights Issue”) pursuant to paragraph (「供股」)所得款項淨額之進一步資料,有關詳情載列
11(8) of Appendix 16 to the Listing Rules, details of which are set out 如下:
below:

The Company had received net proceeds of approximately HK$657.3 本公司已收到供股籌集之所得款項淨額約657.3百萬
million raised from Rights Issue. HK$147.8 million of the raised proceeds 港元。於二零一九年十二月三十一日,所籌集所得
remained unutilised as at 31 December 2019. 款項147.8百萬港元尚未動用。


The use of proceeds from the Rights Issue as at 31 December 2019, 30 於二零一九年十二月三十一日、二零二零年六月三
June 2020 and date of this report are as follows: 十日及本報告日期,供股所得款項用途如下:


Utilised Unutilised
Unutilised amount up to amount as at
Utilised amount as at 30 June 2020 and 30 June 2020 and
Amount for amount 31 December the date of the date of
intended use in 2019 2019 this report this report

截至二零二零年於二零二零年
於二零一九年六月三十日及六月三十日及
二零一九年之十二月三十一日本報告日期本報告日期之
擬定用途金額已動用金額之未動用金額已動用金額尚未動用金額


(HK$ million) (HK$ million) (HK$ million) (HK$ million) (HK$ million)

(百萬港元)(百萬港元)(百萬港元)(百萬港元)(百萬港元)


Subscription of shares of joint
venture or other investments
認購合營公司股份或
其它投資460.1 320.5 139.6
Repayment of debts of
the Group
償還本集團債務
131.5 126.0 5.5
General working capital of
the Group
本集團之一般營運
資金65.7 63.0 2.7
Total總計657.3 509.5 147.8
375.3 84.8
131.5 –
65.7 –

572.5 84.8
As at 30 June 2020 and the date of this report, the use of the proceeds
has not exceeded the proposed use of the proceeds as disclosed in the
Supplemental Announcement and the total balance of the unutilised
proceeds is approximately HK$84.8 million, all of which are allocated to
subscription of shares of joint venture or other investments.

於二零二零年六月三十日及本報告日期,所得款
項用途並無超過補充公告所披露之所得款項擬定
用途,而未動用所得款項結餘總額約為84.8百萬港
元,全部分配至認購合營公司股份或其他投資。



Change in Expected Timeline for Utilising the Proceeds

The table below illustrates the amounts originally expected to be utilised
by 31 December 2019, the unutilised amounts as at 31 December 2019
and the revised expected timeline for utilisation of proceeds:

Amounts
originally
expected to
be utilised by
31 December
2019

原預期於
二零一九年
十二月三十一日前
動用之金額

(HK$ million)

(百萬港元)

更改動用所得款項之預期時間表

下表列示原預期於二零一九年十二月三十一日前動
用之金額、於二零一九年十二月三十一日未動用金
額及所得款項動用情況之經修訂預期時間表:


Unutilised
amounts as at Revised expected timeline
31 December for fully utilising
2019 the unutilised proceeds

於二零一九年
十二月三十一日之悉數動用未動用
未動用金額所得款項之經修訂預期時間表


(HK$ million)

(百萬港元)


Subscription of shares of joint venture or other
investments
209.2 139.6 By 31 December 2021
認購合營公司股份或其它投資二零二一年十二月三十一日之前
Repayment of debts of the Group 57.1 5.5 By 28 August 2020
償還本集團債務二零二零年八月二十八日之前
General working capital of the Group 22.5 2.7 By 28 August 2020
本集團之一般營運資金二零二零年八月二十八日之前
Total 288.8 147.8
總計
As disclosed in the Supplemental Announcement, the remaining proceeds
of the Rights Issue in the amount of HK$288.8 million were expected to
be utilised by 31 December 2019. As at 31 December 2019, HK$147.8
million of the raised proceeds remained unutilised. The delay in the use
of proceeds from the Rights Issue was primarily due to the fact that the
Company had not been able to identify suitable targets for investment
other than investment in the joint venture announced by the Company on
25 November 2018 and the market since then had not been appropriate
for such investment. The directors of the Company considered that
2019 was not an appropriate window for the utilisation of all the
remaining proceeds designated for the subscription of shares of joint
venture or other investments as originally disclosed in the Supplemental
Announcement.

The proceeds originally designated for repayment of debts of the Group
and general working capital of the Group were utilised largely in 2019
and completely utilised as at 30 June 2020 and the date of this report.
The slight delay was due to administrative processing and impact of the
pandemic.

誠如補充公告所披露,供股餘下所得款項288.8百萬
港元預期於二零一九年十二月三十一日之前動用。

於二零一九年十二月三十一日,所籌集之所得款項
中147.8百萬港元仍未動用。延遲供股所得款項用途
主要由於除本公司於二零一八年十一月二十五日所
公佈於合營公司之投資外,本公司未能物色合適投
資目標,自此以後市場並不適宜有關投資。本公司
董事認為,二零一九年並非適當時機以動用原於補
充公告所披露指定用於認購合營公司股份或其他投
資之所有餘下所得款項。


原定用於償還本集團債務及本集團一般營運資金之
所得款項大致上已於二零一九年動用,並於二零二
零年六月三十日及本報告日期已悉數動用。稍為有
所延誤乃由於行政處理需時及新冠疫情之影響所
致。



The Board has adjusted the expected timeline for fully utilising the
remaining proceeds from the Rights Issue as above, after considering
the decline of both demand and supply of crude oil as a result of social
distancing and shutdown of economic activities caused by the outbreak
of the pandemic and its adverse impact on the drilling market. It still takes
some time for economies to restore and recover.

Based on the estimation of the Board as at the date of this report, the
remaining proceeds from the Rights Issue are expected to be utilised by
31 December 2021.

STRATEGY, PROSPECTS AND ORDER BOOK

Since 2020, the global economy has been in stagnation due to the
impact of the COVID-19 pandemic. The world, being hard hit by the
COVID-19, saw a rare all-round plummet in the international oil prices,
and the offshore engineering market, which was gradually recovering,
was also forced into a recession. The transformation and layout of CMIC’s
offshore asset management business and the restructuring framework
of TSC’s PRC business were basically completed last year. Faced with the
unexpected environment and market crisis this year, CMIC responded
in a timely manner and sought for survival. As a result, operating profit
slightly improved as compared with the same period of last year. The
Company will continue to push ahead and implement the strategies and
business directions formulated at the beginning of the year.

With respect to the offshore asset management business, the global
economy and oil market will return to the right track in the next one
to two years with the gradual containment of the COVID-19 pandemic
and the recovery of oil demand. In this process, old platforms without
long-term leases in the offshore engineering market will be gradually
phased out from the market, and the demand and supply relationship
will be further improved. The full recovery is only a matter of time.
The COVID-19 pandemic and the low oil price environment have also
extended the value investment window of counter-cyclical layout for the
offshore engineering market that has been in the process of recovery,
and brought new opportunities to strengthen the marketisation operation
of the offshore asset management business amid market doldrums. The
Company will seize the prominent historic moment of the restructuring
of the offshore engineering industry and asset merger and acquisition.
Capitalising on the resource advantages of strategic shareholders and
partners at home, the Company will recover capital from fixed income
of asset leasing through recycling capital efficiently, and improve the
efficiency of capital operation by capitalising on the leverage effect of
financial leasing, etc., to continuously inject high-quality platform assets
while expanding the global layout of the offshore asset management
business and strengthening the vertical extension of the whole industrial
chain of offshore energy, thus achieving integrated development of the
whole industrial chain of offshore engineering equipment manufacturing
as well as platform operation and management.

經考慮爆發新冠疫情導致社交隔離及經濟活動被迫
停止,造成了原油供給端與需求端同時下滑,以及
疫情對鑽探市場之不利影響,董事會已調整上述悉
數動用供股餘下所得款項之預期時間表。經濟復甦
仍需要一段時間。


根據董事會於本報告日期之估計,供股之餘下所得
款項預期將於二零二一年十二月三十一日之前動
用。


策略、前景及訂單

進入2020年以來,由於疫情的影響,全球經濟陷
入停滯。疫情衝擊全球之下,國際油價罕見地出現
全面大跳水,本來逐步回暖的海工市場也被迫進入
低迷時期。華商國際的海工資管業務轉型佈局以及
TSC中國業務重組框架已於去年基本完成,面對今
年突如其來的環境形勢與市場危機,華商國際及時
應對,危中求生,經營業績利潤較去年同期略有增
長。公司將繼續推進和落實年初制定的策略和業務
方向。


在海洋工程資產管理業務方面,未來一兩年,隨著
疫情的逐步控制以及石油需求的恢復,全球經濟與
石油市場將回歸正軌。在這個過程中,海工市場長
期無租約的老舊平台逐步退出市場,供需關係將進
一步得到改善,全面回暖僅是時間問題。疫情及低
油價環境也給處於回暖期的海工市場延續了逆週期
佈局的價值投資窗口,也給在市場低點加強海工資
管業務的市場化運作帶來了新的機會,抓住海工行
業重組和資產併購的絕佳歷史時期,承接國內各戰
略股東和合作方的優勢資源,通過資本高效循環,
資產租賃固定收益回籠資金,借助融資租賃等的槓
桿效應加大資本運作效果,需求持續注入優質平台
資產,擴大海工資管業務全球化佈局,加強海洋能
源全產業鏈的縱向延伸,形成海工設備製造、平台
運營管理的全產業鏈價值整合發展。




In terms of oil and gas exploration and development and offshore
engineering related equipment business, the Company will continue to
proactively develop high-end equipment manufacturing, in particular
the offshore wind power installation related equipment and service, and
explore transition from the traditional drilling accessories supply business
to provision of supply chain and operation and maintenance services to
global oil and gas and offshore engineering customers. The development
in concert with offshore asset management business will provide
customers with efficient and long-term equipment maintenance and
spare parts. The Company will proactively try new business models, such
as a new sales model that combines core equipment including drilling
equipment, power control equipment, jacking equipment and cranes with
financial leasing.

CMIC will also actively establish strategic cooperation with leading players
such as Valaris and Shelf Drilling to coordinate business development and
actively seek business expansion amid the COVID-19 pandemic and low
oil price environment.

As to key regional markets, the Company will continue to focus on oil
and gas and offshore engineering hotspots, such as Mexico, the North
Sea, the Middle East, West Africa, Brazil, North America and China.

The Company will continue to strengthen and standardise the
management process, further implement measures to improve quality
and efficiency to further control costs and reduce expenses. The
Company will repay its shareholders for their long-term support through
the improvement of the Company’s profitability and cash flow position as
well as the increase in share price.

PLANS FOR FUTURE MATERIAL INVESTMENTS,
ASSETS AND CAPITAL INTEGRATION

The Group strategically positioned itself as “a world-class operator
delivering the integrated chain value of offshore energy technology”.
The Group will seek potential resource integration and investment
opportunities around the marine, energy and technology industry chain.
The Group will place its investment focus on the following potential
opportunities: opportunities for investment in high-tech technology and
intelligent manufacturing fields that are synergistic with the Group’s
original high-end equipment manufacturing; it will leverage on the
capital financing advantages of the Fund and listing as well as asset
lease and sales to seek potential opportunities to expand offshore asset
management business projects and for integration of upstream and
downstream enterprises; the Group will proactively explore investment,
integration and acquisition opportunities in fields of clean energy
including offshore wind power installation equipment and service, LNG as
well as the fields of artificial intelligence, big data, and Internet of Things.

在油氣勘探開發和海洋工程行業相關設裝備業務方
面,公司將繼續積極發展高端裝備製造,特別是海
上風電安裝相關設備與服務,探索由傳統的鑽探配
件供應業務向全球油氣和海洋工程客戶提供供應鏈
和運維服務發展;與海洋工程資產管理業務協同發
展,為客戶提供高效長期的設備維護保養、備品備
件採購;積極嘗試新的業務模式,如將鑽井設備、
電控設備、升降設備、吊機等核心設備與融資租賃
相結合的新銷售模式。


華商國際也在積極與Valaris、Shelf Drilling等頭部企
業構建戰略合作關係,協同業務發展,在疫情及低
油價環境下主動謀求業務拓展發展。


在重點區域市場方面,公司將繼續關注油氣和海洋
工程的熱點區域,如墨西哥、北海、中東、西非、
巴西、北美及中國等市場區域。


公司將繼續強化和規範管理流程,深入落實提質增
效措施,進一步控製成本和降低費用。通過公司盈
利和現金流狀況的改善及股價的提升,回饋股東的
長期支持。


未來重大投資、資產及資本整合計劃

本集團戰略定位為「世界一流的海洋能源科技產業鏈
價值整合運營商」。集團將圍繞海洋、能源和科技產
業鏈尋求潛在的資源整合和投資機會。集團在投資
方向上,重點關注以下潛在機會:與集團原有高端
裝備製造有協同性的高新科技技術及智能製造領域
的投資機會;借助海洋科技基金及上市平台的資本
融通優勢,結合資產租售,尋求潛在的擴大海洋工
程資產管理業務和產業鏈上下游公司整合的機會;
積極探索海上風電安裝設備與服務、LNG等清潔能
源、人工智能、大數據、物聯網等領域投資整合和
收購機會。




In assessing the potential investment or acquisition targets, the Group
considers a combination of factors such as alignment with the Group’s
strategic plans, synergies, market position and strengths, management
team capability, valuation, track record, financial performance and
potential growth. The Group will gradually improve its financial
performance by expanding its business direction and creating a new
profit model, so as to provide a firm basis for future growth expansion.

RESIGNATION AND APPOINTMENT OF THE
CHAIRMAN AND CHIEF EXECUTIVE OFFICER
(“CEO”)

.
Mr. Wang Hongyuan resigned as the chairman of the Board and
CEO of the Company with effect from 19 February 2020.
.
Mr. Lou Dongyang was appointed as the chairman of the Board
with effect from 19 February 2020.
.
Mr. Cong Yongjian was appointed as the CEO of the Company with
effect from 19 February 2020.
RESIGNATION AND APPOINTMENT OF EXECUTIVE
DIRECTORS

.
Mr. Wang Hongyuan resigned as an executive Director of the
Company due to other commitments with effect from 19 February
2020.
.
Mr. Cong Yongjian was appointed as an executive Director of the
Company with effect from 19 February 2020.
CHANGE OF BOARD COMMITTEES MEMBERS

.
On 19 February 2020, Mr. Wang Hongyuan resigned as the
chairman of the Nomination Committee and a member of the
Remuneration Committee of the Company.
.
On 19 February 2020, Mr. Lou Dongyang was appointed as the
chairman of the Nomination Committee and a member of the
Remuneration Committee of the Company.
在評估潛在投資或收購目標時,本集團會綜合考慮
多項因素,包括是否符合本集團之戰略計劃、協同
效應、市場定位與優勢、管理團隊之能力、估值、
往績記錄、財務表現及潛在增長等。通過拓展本集
團的業務方向和開創新的盈利模式,逐步改善財務
表現,從而為未來業績增長提供堅實基礎。


主席及首席執行官(「首席執行官」)辭任
及委任


.
王洪源先生辭任董事會主席及本公司首席執行
官之職務,於二零二零年二月十九日起生效。

.
婁東陽先生獲委任為董事會主席,於二零二零
年二月十九日起生效。

.
叢永儉先生獲委任為本公司首席執行官,於二
零二零年二月十九日起生效。

執行董事之辭任及委任


.
王洪源先生因其他工作安排辭任本公司執行董
事,於二零二零年二月十九日起生效。

.
叢永儉先生獲委任為本公司董事會執行董事,
自二零二零年二月十九日起生效。

董事委員會成員之變更


.
於二零二零年二月十九日,王洪源先生辭任本
公司提名委員會主席及薪酬委員會成員。

.
於二零二零年二月十九日,婁東陽先生獲委任
為本公司提名委員會主席及薪酬委員會成員。


SHARE AWARD PLAN

The Company adopted a share award plan (“Share Award Plan 1”) on 16
January 2015 (the “Adoption Date”). The Share Award Plan 1 does not
constitute a share option scheme pursuant to Chapter 17 of the Listing
Rules and is at discretion of the Company. The purpose of the Share
Award Plan 1 is to recognise the contributions of officers and employees
of the Group (the “Eligible Persons”), excluding any Directors and any
other connected persons of the Group, towards the development of the
Group in the past or as incentives to selected grantees to achieve higher
than target profits for the Group and to align the interests of the selected
grantees with sustainable growth and development of the Group.

The total number of Shares purchased under the Share Award Plan 1
shall not exceed 3% of the issued Shares (i.e. 21,147,456 Shares) at the
Adoption Date. A trust has been set up and Treasure Maker Investments
Limited has been appointed as the trustee. Pursuant to the Share Award
Plan 1, the trustee may purchase Shares from the public market out of
cash contributed by the Company from time to time. Shares purchased
under the Share Award Plan 1 will be held on trust for the Eligible
Persons until such Shares are vested in accordance with the provisions of
the rules relating to the Share Award Plan 1. The Share Award Plan 1 will
be effective for a period until 15 January 2025 unless terminated at the
discretion of the Board at an earlier date.

As at 30 June 2020, there are 21,147,456 shares (representing 0.69% of
the issued share capital of the Company) held by the trustee. No grant
was made for the six months ended 30 June 2020 under the Share Award
Plan 1.

The Company adopted a new share award plan (“Share Award Plan 2”)
on 31 October 2019 (the “Adoption Date 2”). The Share Award Plan 2
does not constitute a share option scheme pursuant to Chapter 17 of
the Listing Rules and is at discretion of the Company. The purpose of
the Share Award Plan 2 is to recognise and reward the contributions
of Directors, senior management and any other connected persons
or consultants of the Group (the “Eligible Persons”) towards the
development and growth of the Group.

The total number of Shares purchased under the Share Award Plan 2
shall not exceed 3% of the issued Shares (i.e. 92,071,174 Shares) at the
Adoption Date 2. A trust has been set up and Treasure Maker Investments
Limited has been appointed as the trustee. Pursuant to the Share Award
Plan 2, the trustee may purchase Shares from the public market out of
cash contributed by the Company from time to time. Shares purchased
under the Share Award Plan 2 will be held on trust for the Eligible
Persons until such Shares are vested in accordance with the provisions of
the rules relating to the Share Award Plan 2. The Share Award Plan 2 will
be effective for a period until 30 October 2029 unless terminated at the
discretion of the Board at an earlier date.

股份獎勵計劃

本公司已於二零一五年一月十六日(「採納日期」)採納
一項股份獎勵計劃(「股份獎勵計劃
1」)。股份獎勵計
劃1並不構成根據上市規則第十七章之購股權計劃,
可由本公司酌情操作。股份獎勵計劃1旨在表揚本集
團高級職員及僱員(「合資格人士」),(不包括任何董
事及本集團任何其他關連人士)過去對本集團發展之
貢獻,或鼓勵經選定承授人達成比本集團目標溢利
更高的目標,以及將經選定承授人之利益與本集團
之持續增長及發展掛鈎。


根據股份獎勵計劃1購買之股份總數不得超過採納日
期已發行股份之3%(即21,147,456股股份)。本公司
已成立一項信託及委任Treasure Maker Investments
Limited為受託人。根據股份獎勵計劃
1,受託人可於
公開市場以本公司不時注入之現金購買股份。根據
股份獎勵計劃1購買之股份將以信託為合資格人士持
有,直至該等股份根據關於股份獎勵計劃1相關規則
條文歸屬為止。股份獎勵計劃1將一直有效,直至二
零二五年一月十五日,惟董事會酌情在較早日期終
止則作別論。


於二零二零年六月三十日,信託人持有21,147,456
股股份(佔本公司已發行股本
0.69%)。截至二零二零
年六月三十日止六個月,概無根據股份獎勵計劃1作
出授予。


本公司已於二零一九年十月三十一日(「採納日期
2」)
採納新的一項股份獎勵計劃(「股份獎勵計劃
2」)。股
份獎勵計劃2並不構成根據上市規則第十七章之購股
權計劃,可由本公司酌情操作。股份獎勵計劃2旨在
表揚及獎勵本集團董事、高級管理人員和任何其他
關聯人士或顧問(「合資格人士」)對本集團發展及增長
之貢獻。


根據股份獎勵計劃2購買之股份總數不得超過採納
日期2已發行股份之3%(即92,071,174股)。本公司
已成立一項信託及委任Treasure Maker Investments
Limited為受託人。根據股份獎勵計劃
2,受託人可於
公開市場以本公司不時注入之現金購買股份。根據
股份獎勵計劃2購買之股份將以信託為合資格人士持
有,直至該等股份根據關於股份獎勵計劃2相關規則
條文歸屬為止。股份獎勵計劃2將一直有效,直至二
零二九年十月三十日,惟董事會酌情在較早日期終
止則作別論。




During the six months ended 30 June 2020, the trustee purchased
23,400,000 Shares (representing 0.8% of the issued share capital of the
Company) on the Stock Exchange pursuant to the Share Award Plan 2
at a total consideration of approximately HK$5,534,187 and no grant
was made. As at 30 June 2020, there are 39,252,544 shares held by the
trustee.

SHARE AWARD INCENTIVE SCHEME

The Company adopted a share award incentive scheme (“Share Award
Incentive Scheme”) on 27 May 2016 (the“Adoption Date of Share Award
Incentive Scheme”). The purposes of the Share Award Incentive Scheme
are (i) to align the interests of Eligible Persons with those of the Group
through ownership of Shares, dividends and other distributions paid on
Shares and/or the increase in value of the Shares; and (ii) to encourage
and retain Eligible Persons to make contributions to the long-term growth
and profits of the Group. The Share Award Incentive Scheme is a separate
scheme from the Share Award Plan 1 and Share Award Plan 2, which
is specifically for granting Share awards sourced from existing Shares
purchased from the stock market. The Share Award Incentive Scheme will
give the Company flexibility in granting Awards of new Shares. The Share
Award Incentive Scheme will be effective for a period until 26 May 2026
unless terminated at the discretion of the Board at an earlier date.

The Company has approved the adoption of the Share Award Incentive
Scheme on 27 May 2016 by the shareholders by poll at the AGM,
pursuant to which new Shares of not more than 3% of the total number
of issued Shares as at the Adoption Date of Share Award Incentive
Scheme (i.e. 21,213,606 new Shares) will be allotted and issued to
the Trustee by the Company, and will be held on trust by the Trustee
for the Selected Participants before vesting. For details, please refer to
the Company’s announcement dated 7 April 2016 and the Company’s
circular dated 8 April 2016.

No grant was made for the six months ended 30 June 2020. As at 30
June 2020, the total number of shares that may be granted under the
Share Award Incentive Scheme is 21,213,606 Shares, representing 0.69%
of the issued share capital of the Company.

於截至二零二零年六月三十日止六個月,信託人根
據股份獎勵計劃2已於聯交所購買23,400,000股股份
(佔本公司已發行股本
0.8%),總代價約為5,534,187
港元,概無作出授予。於二零二零年六月三十日,

信託人持有39,252,544股股份。


股份獎勵激勵計劃

本公司已於二零一六年五月二十七日(「股份獎勵激
勵計劃採納日期」)採納一項股份獎勵激勵計劃(「股份
獎勵激勵計劃」)。股份獎勵激勵計劃的目的為(i)透過
股份所有權、股息及就股份支付的其他分派及╱或
提升股份價值令合資格人士的利益與本集團的利益
一致;及(ii)鼓勵並挽留合資格人士,以就本集團的
長期增長及溢利作出貢獻。股份獎勵激勵計劃為有
別於股份獎勵計劃1及股份獎勵計劃2,並指定用作
授出來自現有股份(購自股票市場)的股份獎勵。股
份獎勵激勵計劃將為本公司授出新股份獎勵提供靈
活彈性。股份獎勵激勵計劃將一直有效,直至二零
二六年五月二十六日,惟董事會酌情在較早日期終
止則作別論。


本公司已於二零一六年五月二十七日由股東於股東
週年大會上以投票方式批准採納股份獎勵激勵計
劃,據此,本公司將向受託人配發及發行不超過於
股份獎勵激勵計劃採納日期已發行股份總數3%的新
股份(即
21,213,606股新股份),且於歸屬前將由受託
人以信託形式為獲選參與者持有。有關詳情,請參
閱本公司日期為二零一六年四月七日的公佈及本公
司日期為二零一六年四月八日的通函。


截至二零二零年六月三十日止六個月,概無作出任
何授予。於二零二零年六月三十日,根據股份獎勵
激勵計劃可授出的股份總數為21,213,606股股份(佔
本公司已發行股本的0.69%)。




DIRECTORS’ AND CHIEF EXECUTIVES’ INTERESTS
AND SHORT POSITIONS IN SHARES, UNDERLYING
SHARES AND DEBENTURES

As at 30 June 2020, the interests and short positions of the Directors and
Chief Executives of the Company in the Shares, underlying Shares and
debentures of the Company or its associated corporations (within the
meaning of Part XV of the Securities and Futures Ordinance (the “SFO”)),
as recorded in the register required to be kept by the Company pursuant
to Section 352 of the SFO, or as otherwise notified to the Company
and the Stock Exchange pursuant to the Model Code for Securities
Transactions by Directors of Listed Issuers (the “Model Code”) contained
in the Listing Rules, were as follows:

Long positions in ordinary Shares and underlying Shares
of the Company:

董事及首席行政人員於股份、相關股份
及債券中的權益及淡倉

於二零二零年六月三十日,董事及本公司首席行政
人員於本公司或其相聯法團(定義見證券及期貨條例

(「證券及期貨條例」)第XV部)的股份、相關股份及債
券中,擁有根據證券及期貨條例第352條本公司須存
置的登記冊所記錄的權益及淡倉,或根據上市規則
所載上市發行人董事進行證券交易的標準守則(「標
準守則」)規定已另行知會本公司及聯交所的權益及
淡倉如下:

於本公司普通股及相關股份之好倉:


Number of issued ordinary Shares of HK$0.10 each in the Company
本公司每股面值0.10港元的已發行普通股數目
Name of Directors董事姓名
Personal
interests
個人權益
Family
interests
家族權益
Corporate
interests
公司權益
Other
interests
其他權益
Total
總計


Approximate
percentage of
the Company’s
issued share
capital

佔本公司
已發行股本
概約百分比


(Note 1)
(附註
1)


Mr. Zhang Menggui, Morgan張夢桂先生64,679,100 – – – 64,679,100 2.11%
Mr. Jiang Bing Hua蔣秉華先生25,665,240 – – – 25,665,240 0.84%
Mr. Chan Ngai Sang, Kenny陳毅生先生500,000 – – – 500,000 0.02%
Note:

1.
The percentage is calculated on the basis of 3,069,039,117 Shares in issue as
at 30 June 2020.
Save as disclosed above, as at 30 June 2020, none of the Directors or
Chief Executives of the Company had any interest or short position in
the Shares, underlying Shares or debentures of the Company or any of
its associated corporations as recorded in the register required to be kept
under Section 352 of the SFO, or as otherwise notified to the Company
and the Stock Exchange pursuant to the Model Code contained in the
Listing Rules.

附註:


1.
該百分比乃根據於二零二零年六月三十日已發行之
3,069,039,117股股份計算。

除上文披露者外,於二零二零年六月三十日,概無
董事或本公司首席行政人員於本公司或其任何相聯
法團的股份、相關股份或債券中,擁有根據證券及
期貨條例第352條規定須存置之登記冊所記錄,或根
據上市規則所載標準守則已另行知會本公司及聯交
所之任何權益或淡倉。



SUBSTANTIAL SHAREHOLDERS’ AND OTHER
PERSONS’ INTERESTS AND SHORT POSITIONS IN
SHARES AND UNDERLYING SHARES

As at 30 June 2020, the following persons had interests or short positions
in the Shares and underlying Shares of the Company as recorded in the
register of interests required to be kept by the Company pursuant to
Section 336 of the SFO:

(i)
Long Positions in Ordinary Shares and Underlying
Shares of the Company:
Name of Shareholders

股東名稱

主要股東及其他人士於股份及相關股份
中之權益及淡倉

於二零二零年六月三十日,以下人士於本公司股份
及相關股份中,擁有根據證券及期貨條例第336條規
定本公司須存置之登記冊所記錄之權益或淡倉:


(i)
於本公司普通股及相關股份的好倉:
Approximate
percentage
of the
Company’s
Capacity and nature Number of issued
of interest shares share capital
佔本公司
已發行股本
身份及權益性質股份數目概約百分比


China Great Wall AMC (International) Holdings Company Limited (Note 1)
中國長城資產(國際)控股有限公司(附註
1)
Corporate
公司
1,530,372,000 49.86China Great Wall Asset Management Co., Ltd. (Note 1)
中國長城資產管理股份有限公司(附註
1)
Corporate
公司
1,530,372,000 49.86China Merchants & Great Wall Ocean Strategy & Technology Fund (L.P.) (Note 1)
China Merchants & Great Wall Ocean Strategy & Technology Fund (L.P.)(附註
1)
Corporate
公司
1,530,372,000 49.86
China Merchants Great-Wall GP Limited (Note 1)
招商長城合夥人有限公司(附註
1)
Corporate
公司
1,530,372,000 49.86Great Wall International Investment V Limited (Note 1)
Great Wall International Investment V Limited(附註
1)
Corporate
公司
1,530,372,000 49.86
Prime Force Investment Corporation (Note 1)
Prime Force Investment Corporation(附註
1)
Beneficial Owner
實益擁有人
1,530,372,000 49.86
China Merchants Group Limited (Note 1)
招商局集團有限公司(附註
1)
Corporate
公司
1,530,372,000 49.86Minyun Limited
Minyun LimitedBeneficial Owner
實益擁有人
284,751,000 9.28
China International Marine Containers (Group) Co., Ltd. (Note 2)
中國國際海運集裝箱(集團)股份有限公司(附註
2)
Corporate
公司
185,600,000 6.05China International Marine Containers (Hong Kong) Ltd. (Note 2)
中國國際海運集裝箱(香港)有限公司(附註
2)
Beneficial Owner
實益擁有人
185,600,000 6.05


Notes:

1.
Prime Force Investment Corporation (“Prime Force”) is a company
incorporated in the British Virgin Islands and is wholly owned by China
Merchants of Great Wall Ocean Strategy & Technology Fund (L.P.)
(“Fund LP”) and Fund LP is therefore deemed to be interested in the
1,530,372,000 Shares that Prime Force is interested in under Part XV
of the SFO.
China Merchants Great-Wall GP Limited (“Fund GP”) is the general
partner of Fund LP and is therefore deemed to be interested in the
1,530,372,000 Shares that Fund LP are interested in under Part XV of
the SFO.

China Great Wall AMC (International) Holdings Company Limited
(“GWAMC International”) holds 25% of Fund GP and is a wholly
owned subsidiary of China Great Wall Asset Management Co., Ltd.
(“GW Asset Management”).

Great Wall International Investment V Limited holds approximately
39.986% of the limited partnership interests in Fund LP and is
therefore deemed to be interested in the 1,530,372,000 Shares
that Fund LP are interested in under Part XV of the SFO. Great Wall
International Investment V Limited is a wholly owned subsidiary
of GWAMC International, and GWAMC International is a wholly
owned subsidiary of GW Asset Management. Therefore, GW Asset
Management is deemed to be interested in the 1,530,372,000 Shares
held by Fund LP.

China Great Bay Area Fund Management Company Limited holds 30%
of the equity interest in Fund GP and is a wholly owned subsidiary of
China Merchants Capital Management Co. Ltd., which in turn is wholly
owned by China Merchants Capital Investment Co., Ltd.

China Merchants Union (BVI) Limited holds approximately 9.996%
of the limited partnership interests in Fund LP and 15% of the equity
interest in Fund GP, and its 50% of equity interest is held by China
Merchants Holdings (Hong Kong) Company Ltd. which is wholly
owned by China Merchants Steam Navigation Company Limited.
China Merchants Industry Holdings Co., Ltd. (“CM Industry”) holds
30% of the equity interest in Fund GP and approximately 29.989%
of the limited partnership interests in Fund LP, and is a wholly owned
subsidiary of China Merchants Steam Navigation Company Limited
which is a wholly owned subsidiary of China Merchants Group Limited*
(招商局集團有限公司) (“CM Group”). Therefore, China Merchants
Steam Navigation Company Limited and CM Group are deemed to be
interested in the 1,530,372,000 Shares that Fund LP are interested in
under Part XV of the SFO.

2.
China International Marine Containers (Group) Company Limited
(“CIMC Group”) holds the entire issued share capital of China
International Marine Containers (Hong Kong) Limited (“CIMC HK”).
Therefore, CIMC Group is deemed to be interested in the 185,600,000
Shares held by CIMC HK under Part XV of the SFO.
附註:


1.
Prime Force Investment Corporation(「Prime
Force」)為一間於英屬處女群島註冊成立之
公司,並由China Merchants of Great Wall
Ocean Strategy & Technology Fund (L.P.)
(「Fund LP」)全資擁有。因此,根據證券及期貨
條例第XV部,Fund LP被視為於Prime Force擁有
權益之1,530,372,000股股份中擁有權益。


招商長城合夥人有限公司(「基金普通合夥人」)
為Fund LP之普通合夥,因此,根據證券及期貨
條例第XV部,其被視為於Fund LP擁有權益之
1,530,372,000股股份中擁有權益。


中國長城資產(國際)控股有限公司(「長城資產
國際」)持有基金普通合夥人25%股本權益,並
為中國長城資產管理股份有限公司(「長城資產
管理」)之全資附屬公司。



Great Wall International Investment V Limited
持有Fund LP約39.986%之有限合夥權益,因
此,根據證券及期貨條例第XV部,其被視為於
Fund LP擁有權益之1,530,372,000股股份中擁
有權益。Great Wall International Investment V
Limited為長城資產國際之全資附屬公司,而長
城資產國際為長城資產管理的全資附屬公司,
因此長城資產管理被視為於Fund LP擁有權益之
1,530,372,000股股份中擁有權益。



China Great Bay Area Fund Management
Company Limited持有基金普通合夥人30%股
本權益,並為招商局資本管理有限責任公司之
全資附屬公司,而招商局資本管理有限責任公
司由招商局資本投資有限責任公司全資擁有。



China Merchants Union (BVI) Limited持有Fund
LP約9.996%之有限合夥權益及基金普通合夥人
15%的權益,其50%的股本權益由招商局集團

(香港)有限公司持有,而招商局集團(香港)有
限公司由招商局輪船股份有限公司全資擁有。

招商局工業集團有限公司(「招商局工業」)分別
持有基金普通合夥人30%股本權益及Fund LP
約29.989%之有限合夥權益,並為招商局輪船
股份有限公司之全資附屬公司。而招商局輪船
股份有限公司為招商局集團有限公司(「招商局
集團」)之全資附屬公司。因此,根據證券及期
貨條例第XV部,招商局輪船股份有限公司及
招商局集團各自被視為於
Fund LP擁有權益之
1,530,372,000股股份中擁有權益。



2.
中國國際海運集裝箱(集團)股份有限公司(「中
集集團」)持有中國國際海運集裝箱(香港)有限
公司(「中集香港」)的全部已發行股本。因此,
根據證券及期貨條例第XV部,中集集團被視為
於由中集香港持有之185,600,000股股份中擁有
權益。


(ii) Long positions in Shares of subsidiaries of the (ii) 於本公司附屬公司的股份的好倉:
Company:
Percentage of
Name of subsidiary Name of substantial shareholder shareholding
附屬公司名稱主要股東姓名╱名稱持股百分比
Jurun Limited Xingbo Limited 21%
鉅潤有限公司星博有限公司
CMIC Manufacturing and Supply De Colombia S.A.S Independence Drilling S.A. 40%
CMIC Manufacturing and Supply De Colombia S.A.S Independence Drilling S.A.
ATS Energy LLC Axion Services Inc. 33%
ATS Energy LLC Axion Services Inc.
Petromax Industry Inc. 16%
Petromax Industry Inc.
Texas Unconventional Resources LLC Mr. YANG Anping 20%
Texas Unconventional Resources LLC楊安平先生
OIM Pte. Ltd. Offshore CC FZE 5%
OIM Pte. Ltd. Offshore CC FZE

Save as disclosed above, as at 30 June 2020, no persons (other than the
Directors and Chief Executives of the Company whose interests are set
out under the paragraph headed “DIRECTORS’ AND CHIEF EXECUTIVES’
INTERESTS AND SHORT POSITION IN SHARES, UNDERLYING SHARES AND
DEBENTURES” above), had an interest or short position in the Shares or
underlying Shares of the Company as recorded in the register to be kept
under Section 336 of the SFO.

COMPETITION AND CONFLICT OF INTERESTS

None of the Directors, the management shareholders or substantial
shareholders of the Company or any of their respective associates (as
defined under the Listing Rules) has engaged in any businesses that
competes or may compete, either directly or indirectly, with the business
of the Group, or has any other conflict of interests with the Group during
the six months period ended 30 June 2020.

AUDIT COMMITTEE

The Company established an audit committee on 20 October 2005 with
terms of reference in compliance with Rule 3.21 of the Listing Rules. The
primary duties of the audit committee are to review and supervise the
financial reporting process and internal controls of the Group.

除上文披露者外,於二零二零年六月三十日,根據
按照證券及期貨條例第336條存置之登記冊所記錄,
概無任何人士(權益已於上文「董事及首席行政人員
於股份、相關股份及債券中的權益及淡倉」一段載列
的董事及本公司首席行政人員除外)於本公司的股份
或相關股份中擁有權益或淡倉。


競爭及利益衝突

本公司董事、管理層股東或主要股東或彼等各自之
任何聯繫人士(定義見上市規則)概無於截至二零二
零年六月三十日止六個月期間從事任何與本集團業
務直接或間接構成或可能構成競爭之業務,或與本
集團存在任何其他利益衝突。


審核委員會

本公司於二零零五年十月二十日根據上市規則第


3.21條成立審核委員會,並已制定其書面職權範
圍。審核委員會之主要職責為審閱及監察本集團之
財務申報過程及內部監控。


The audit committee comprises three members, namely Mr. Chan Ngai
Sang, Kenny (being the chairman of the audit committee), Mr. Zou
Zhendong and Mr. Chen Weidong. All of them are independent nonexecutive
Directors. The audit committee of the Company has reviewed
the unaudited financial results of the Group for the six months ended
30 June 2020 and are of the opinion that the preparation of such results
complied with the applicable accounting standards and requirements and
that adequate disclosures have been made. There is no disagreement
by the audit committee with the accounting treatment adopted by the
Group.

DIRECTORS’ MATERIAL INTERESTS IN
TRANSACTIONS, ARRANGEMENTS AND
CONTRACTS

No transactions, arrangements and contracts of significance in relation
to the Group’s business to which the Company or any of its subsidiaries,
fellow subsidiaries or its parent companies was a party or were parties
and in which a Director or his/her connected entities had a material
interest, whether directly or indirectly, subsisted during or at the end of
the six months ended 30 June 2020.

COMPLIANCE WITH THE MODEL CODE FOR
SECURITIES TRANSACTIONS BY DIRECTORS

The Company has adopted a code of conduct regarding Directors’
securities transactions on terms no less exacting than the required
standards of dealings as set out in the Model Code as set forth in
Appendix 10 of the Listing Rules. Having made specific enquiry of all
Directors, the Directors have complied with such code of conduct and
the required standards of dealings as set out in the Model Code by the
Directors during the six months ended 30 June 2020.

COMPLIANCE WITH THE CORPORATE
GOVERNANCE CODE

The Company is committed to maintaining a high standard of corporate
governance practices to ensure transparency so that the interests of
our shareholders and the cooperative development among customers,
employees and the Group can be safeguarded. The Company has
adopted the Corporate Governance Code of the Stock Exchange.

During the period, the Company has complied with the code provisions
of the Corporate Governance Code during the six months period from 1
January 2020 to 30 June 2020 as set out in Appendix 14 to Listing Rules
at that time except for the following deviations explained as below:

Code A.2.1

The roles of chairman and chief executive officer should be separated
and should not be performed by the same individual. The division of
responsibilities between the chairman and chief executive officer should
be clearly established and set out in writing.

審核委員會由三名成員組成,包括陳毅生先生(審核
委員會主席)、鄒振東先生及陳衛東先生,彼等均為
獨立非執行董事。本公司的審核委員會已審閱本集
團截至二零二零年六月三十日止六個月之未經審核
財務業績,並認為該等業績之編製方式符合適用會
計準則及規定,並已作出足夠披露。審核委員會對
本集團採納之會計處理方法並無異議。


董事於交易、安排及合約中之重大權益

於截至二零二零年六月三十日止六個月期間內或結
束時,本公司或其任何附屬公司、同系附屬公司或
其母公司概無參與和董事或其關連實體直接或間接
擁有重大權益,及與本公司業務有關之重要交易、
安排及合約。


遵守董事進行證券交易之標準守則

本公司已就董事進行之證券交易採納一項條款不寬
於上市規則附錄十標準守則所載規定買賣準則之操
守守則。於向全體董事作出特定查詢後,董事於截
至二零二零年六月三十日止六個月內一直已遵守標
準守則內所載有關操守守則及規定買賣準則。


遵守企業管治守則

本公司致力保持高水平之企業管治常規以確保透明
度,從而保障其股東之利益,以及客戶、僱員與本
集團間之合作發展。本公司已採納聯交所之企業管
治守則。


期內,本公司已於二零二零年一月一日至二零二零
年六月三十日六個月期間遵守上市規則附錄14當時
所載之企業管治守則之守則條文,惟偏離下述者:

守則第A.2.1條

主席與首席執行官之角色應有區分,不應由一人同
時兼任。主席與首席執行官之間職責之分工應清楚
界定並以書面列載。



During the period from 1 January 2020 to 18 February 2020, Mr. Wang
Hongyuan took up the posts of executive chairman and chief executive
officer of the Company. This deviated from code provision A.2.1 of the
CG Code which stipulated that the roles of chairman and chief executive
officer should be separated and should not be performed by the same
individual. Mr. Wang has extensive experience in strategic planning,
mergers and acquisitions, capital operations and investments in sectors
such as offshore marine and shipping, port and bonded logistics. Mr.
Wang has high standing within the Group together with his extensive
experience in the offshore industry. Mr. Wang is well versed with the
business models and development of the Group and the development of
the gas and oil industry. The Board, after due and careful consideration,
was of the view that Mr. Wang was the single most suitable person for
the positions of the executive chairman and chief executive officer of the
Group. After the resignation of Mr. Wang and the appointment of Mr.
Lou Dongyang as the chairman of the Board with effect from 19 February
2020, the Company has complied with the code provision A.2.1.

PURCHASE, REDEMPTION OR SALE OF LISTED
SECURITIES OF THE COMPANY

For the six months ended 30 June 2020, neither the Company nor any
of its subsidiaries purchased, redeemed or sold any of the Company’s
listed securities, except that the trustee of the share award plan, pursuant
to the terms of the rules and trust deed of the Share Award Plan 2,
purchased on the Stock Exchange a total number of 23,400,000 CMIC
shares at a total consideration of about HK$5,534,187.

ACKNOWLEDGEMENT

The Directors would like to take this opportunity to express sincere thanks
to all the shareholders for their continuous support and to all staff for
their dedication and contribution to the Group during the reporting
period.

By Order of the Board

CMIC Ocean En-Tech Holding Co., Ltd.
Lou Dongyang

Chairman

Hong Kong, 28 August 2020

於二零二零年一月一日至二零二零年二月十八日期
間,王洪源先生擔任本公司之執行主席兼首席執行
官,與守則條文第A.2.1條有所偏離,該條文規定主
席與首席執行官之角色應有區分,不應由一人同時
兼任。王先生於海上航運及船舶、港口及連接物流
等分部之戰略規劃、收購兼併、資本運營及投資上
擁有豐富的經驗。王先生於本集團內之地位崇高,
加上彼於海洋產業之經驗豐富。王先生對本集團之
業務模式及發展以及天然氣及石油行業發展均相當
熟悉。董事會於作出經審慎周詳考慮後認為王先生
為唯一最適合出任本集團執行主席兼首席執行官之
人選。於王先生辭任及委任婁東陽先生為董事會主
席(自二零二零年二月十九日起生效)後,本公司已
遵守守則條文第A.2.1條。


購買、贖回或出售本公司上市證券

截至二零二零年六月三十日止六個月,本公司或其
任何附屬公司概無購買、贖回或出售本公司任何
上市證券,惟股份獎勵計劃的受託人根據股份獎
勵計劃2的規則條款及信託契據於聯交所購買合共
23,400,000股華商國際股份,總代價約為5,534,187
港元。


致謝

各董事謹藉此機會向所有股東之持續支持及所有員
工於報告期間為本集團竭誠效力致以誠摯的謝意。


承董事會命

華商國際海洋能源科技控股有限公司

主席

婁東陽

香港,二零二零年八月二十八日



BOARD OF DIRECTORS
Executive Directors

Mr. Cong Yongjian (Chief Executive Officer)

(appointed on 19 February 2020)
Mr. Jiang Bing Hua (Co-Chairman)
Mr. Zhang Menggui, Morgan
Mr. Wang Hongyuan (Executive Chairman and Chief Executive Officer)

(resigned on 19 February 2020)

Non-executive Directors

Mr. Wang Jianzhong
Mr. Lou Dongyang

(appointed as Chairman on 19 February 2020)
Ms. Fu Rui
Mr. Qian Zewei

Independent non-executive Directors

Mr. Chan Ngai Sang, Kenny
Mr. Zou Zhendong
Mr. Chen Weidong
Mr. Sun Dongchang

COMPLIANCE OFFICER

Mr. Zhang Menggui, Morgan

CHIEF FINANCIAL OFFICER

Mr. Xie Shaohua

COMPANY SECRETARY

Ms. Koo Ching Fan

AUTHORISED REPRESENTATIVES

Mr. Zhang Menggui, Morgan
Mr. Jiang Bing Hua

AUDIT COMMITTEE

Mr. Chan Ngai Sang, Kenny (Chairman)
Mr. Zou Zhendong
Mr. Chen Weidong

REMUNERATION COMMITTEE

Mr. Zou Zhendong (Chairman)
Mr. Lou Dongyang (appointed on 19 February 2020)
Mr. Wang Hongyuan (resigned on 19 February 2020)
Mr. Jiang Bing Hua
Mr. Chan Ngai Sang, Kenny
Mr. Chen Weidong


NOMINATION COMMITTEE

Mr. Lou Dongyang (Chairman) (appointed on 19 February 2020)
Mr. Wang Hongyuan (Chairman) (resigned on 19 February 2020)
Mr. Zhang Menggui, Morgan
Mr. Chan Ngai Sang, Kenny
Mr. Zou Zhendong
Mr. Chen Weidong

COMPLIANCE COMMITTEE

Mr. Lou Dongyang (Chairman)
Mr. Chan Ngai Sang, Kenny
Mr. Chen Weidong
Mr. Ma Yaohui

董事會
執行董事

叢永儉先生(首席執行官)

(於二零二零年二月十九日獲委任)
蔣秉華先生(聯席主席)
張夢桂先生
王洪源先生(執行主席兼首席執行官)

(於二零二零年二月十九日辭任)

非執行董事

王建中先生
婁東陽先生

(於二零二零年二月十九日獲委任為主席)
傅銳女士
錢澤偉先生

獨立非執行董事

陳毅生先生
鄒振東先生
陳衛東先生
孫東昌先生

監察主任

張夢桂先生

首席財務官

謝少華先生

公司秘書

顧菁芬女士

獲授權代表

張夢桂先生
蔣秉華先生

審核委員會

陳毅生先生(主席)
鄒振東先生
陳衛東先生

薪酬委員會

鄒振東先生(主席)
婁東陽先生(於二零二零年二月十九日獲委任)
王洪源先生(於二零二零年二月十九日辭任)
蔣秉華先生
陳毅生先生
陳衛東先生


提名委員會

婁東陽先生(主席)(於二零二零年二月十九日獲委任)
王洪源先生(主席)(於二零二零年二月十九日辭任)
張夢桂先生
陳毅生先生
鄒振東先生
陳衛東先生

監察委員會

婁東陽先生(主席)
陳毅生先生
陳衛東先生
馬耀輝先生


REGISTERED OFFICE

Cricket Square
Hutchins Drive

P.O. Box 2681
Grand Cayman KY1-1111
Cayman Islands
PRINCIPAL PLACE OF BUSINESS IN HONG KONG

Units 2706–2709, 27/F
One Harbourfront
18 Tak Fung Street
Hunghom, Kowloon
Hong Kong

PRINCIPAL SHARE REGISTRAR AND
TRANSFER OFFICE

Conyers Trust Company (Cayman) Limited
Cricket Square
Hutchins Drive

P.O. Box 2681
Grand Cayman KY1-1111
Cayman Islands
HONG KONG SHARE REGISTRAR

Tricor Investor Services Limited
Level 54, Hopewell Centre
183 Queen’s Road East
Hong Kong

PLACE OF LISTING AND DATE OF LISTING

The stock Exchange of Hong Kong Limited
28 November 2005

PUBLIC AND INVESTOR RELATIONS

The Company
Email: ir@cmicholding.com
Phone: +852 2857 3667
Fax: +852 2857 3381

AUDITORS

KPMG

WEBSITE

www.cmicholding.com

STOCK CODE

註冊辦事處


Cricket Square
Hutchins Drive

P.O. Box 2681
Grand Cayman KY1-1111
Cayman Islands
香港主要營業地點

香港
九龍紅磡
德豐街18號
海濱廣場一座
27樓2706–2709室

主要股份過戶登記處


Conyers Trust Company (Cayman) Limited
Cricket Square
Hutchins Drive

P.O. Box 2681
Grand Cayman KY1-1111
Cayman Islands
香港股份過戶登記處

卓佳證券登記有限公司
香港
皇后大道東183號
合和中心54樓

上市地點及上市日期

香港聯合交易所有限公司
二零零五年十一月二十八日

公共及投資者關係

本公司
電郵:ir@cmicholding.com
電話:+852 2857 3667
傳真:+852 2857 3381

核數師

畢馬威會計師事務所

網址


www.cmicholding.com

股份代號


206


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