ChatDOC/OCRFlux-bench-single huggingface dataset:
# Quality control on raw materials

Our quality control team inspects our incoming raw materials at our warehouse. For hot rolled steel coils, we inspect the raw materials by checking the quality certificate provided by the suppliers which sets out the respective specifications of the hot rolled steel coils. Other raw materials are inspected by our quality control personnel on a sampling basis to ensure their quality meets their respective specifications and parameters. Laboratory tests are being carried out by our quality assurance staff to assess zinc and other raw materials.

# Quality control throughout the production process

Our production process control consists of a multi-point checking system from the beginning to the end of our production process. Our quality control team conducts random check on the major steps of our production process. At the end of the production process, we conduct physical check on our Cold Rolled Steel Products on a sampling basis to verify that their mechanical and dimensional properties meet our customers’ requirements.

# Selection of subcontractors and quality control on products processed by subcontractors

Our procurement team selects our subcontractors by carrying out evaluation and assessment and we maintain a list of approved subcontractors. Our quality control team inspects and keeps track with our products before sending to our subcontractors for their further process.

During the Track Record Period and up to the Latest Practicable Date, we did not receive any material claims or complaints by our customers in respect of the quality of our products and there was no incident of failure of our quality control systems which had a material and adverse impact on our business operations.

# PRODUCT DEVELOPMENT

Our product development activities are carried out by six members from our technical department as at the Latest Practicable Date, and is led by Mr. Guo Zhongyi, who has over 22 years of experience in the manufacturing industry in the PRC. For further information about the qualification and experience of Mr. Guo, please refer to the section headed “Directors And Senior Management — Senior management” in the prospectus.
We had two invention patents and 16 utility model patents in the PRC as at the Latest Practicable Date. The following table sets out further information of our two invention patents and three material utility model patents:

Material patents we owned	How the processing techniques of the patents
improve our production process
Invention patents
Zinc pot and its machining
process (鋅鍋及其加工工藝)	A process that solves the technical problem of the
dross stain on the steel coil due to oxidization
of the traditional zinc pot surface, which
enhances the surface quality of the steel
product
A kind of continuous
galvanizing, polishing and
embossing process (一種連
續鍍鋅平整壓花工藝)	A process that prevents the occurance of the id
yellfpatorm (屈服平台), improves the flatness and
rouhbgness of the oard surface and controls the
depth of the pattern, which reduces the
thickness and increases the length of the steel
product
Utility model patents
A kind of reciprocating
liquid zinc pumipng and
deslaid往ggng evice (一種
復式抽鋅液除渣裝置)	A reciprocating pump that eliminates the scum
defects of unpainted galvanized steel products
causedb y dross and zinc dust in the zinc pot,
which enhances the surface quality of the
unpainted galvanized steel product
The zinc dust treatment
deviceb ased on the
humidification treatment
in the nose of the
galvanization furnace (基於
加濕處理的鍍鋅爐爐鼻內鋅
灰處理裝置)	A device that imhproves the atmospere in the
nose of the galvanization furnace and cleans the
zinc dust content inside the galvanization
furnace, such that the overall processing
accuracy of the galvanization furnace and the
quality of the lpating of the metal sheet canb e
improved
Hihg pressure cleaning
device for polishing
machine (平整機用高壓清潔
裝置)	A cleaning device that removes the residual oily
substances and impurities of the polishing
rollers from the surface of the unpainted
galvanized steel products, and eliminates the
surface defects causedb y the crumbs of zinc on
the polishing rollers during the polishing
process, which enhances the surface quality of
the unpainted galvanized steel product
# DIRECTOR’S RESPONSIBILITY FOR THE CONTENTS OF THIS PROSPECTUS

This prospectus, for which our Directors collectively and individually accept full responsibility, includes particulars given in compliance with the Companies (Winding Up and Miscellaneous Provisions) Ordinance, the Securities and Futures (Stock Market Listing) Rules (Chapter 571V of the Laws of Hong Kong) and the GEM Listing Rules for the purpose of giving information to the public with regard to our Group. Our Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief the information contained in this prospectus is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this prospectus misleading.

# FULLY UNDERWRITTEN

This prospectus is published solely in connection with the Placing which is sponsored by the Sponsor and is managed by the Joint Lead Managers. The Placing Shares are fully underwritten by the Underwriters (subject to the terms and conditions of the Underwriting Agreement and also subject to the Placing Price being fixed pursuant to the Price Determination Agreement). Further information relating to the Underwriters and the Placing and the underwriting arrangements is set out in the section headed “Underwriting” in this prospectus.

# DETERMINATION OF THE PLACING PRICE

The Placing Shares are being offered at the Placing Price which will be determined by the Joint Bookrunners (for themselves or on behalf of the Underwriters) and us on or around Thursday, 31 December 2015, or such other date as agreed between the parties.

If we and the Joint Bookrunners (for themselves or on behalf of the Underwriters) are unable to reach an agreement on the Placing Price on or before Thursday, 31 December 2015, or such later date or time as may be agreed between the Joint Bookrunners (for themselves or on behalf of the Underwriters) and us, the Placing will not become unconditional and will lapse. For full information relating to the determination of the Placing Price, please refer to the section headed “Structure and Conditions of the Placing” in this prospectus.

# RESTRICTIONS ON OFFER AND SALE OF PLACING SHARES

This prospectus is published in connection with the Placing.

No action has been taken to permit any offering of the Placing Shares or the distribution of this prospectus in anyj urisdiction other than Hong Kong. Accordingly, this prospectus may not be used for the purpose of, and does not constitute, an offer or invitation nor is it circulated to invite or solicit offers in anyj urisdiction or in any circumstances in which such an offer or invitation is not authorised or to any person to whom it is unlawful to make such an offer or invitation. The distribution of this prospectus and the offering of the Placing Shares in otherj urisdictions are subject to restrictions and may not be made except as permitted under the applicable securities laws of suchj urisdictions pursuant to registration with or an authorisation from the relevant regulatory authorities or an exemption therefrom.
Subscribers for the Placing Shares should consult their financial advisers and seek legal advice, as appropriate, to inform themselves of, and to observe, all applicable laws, rules and regulations of any relevant jurisdiction. Subscribers for the Placing Shares should also inform themselves as to the relevant requirements and any applicable exchange control regulations and applicable taxes in the countries of their respective citizenship, residence or domicile.

Each person subscribing for the Placing Shares under the Placing will be required to, or be deemed by his/her/its subscription for the Placing Shares to, confirm that he/she/it is aware of the restrictions on offers of the Placing Shares described in this prospectus and he/she/it is not subscribing, and has not been offered, any Placing Shares in circumstances that contravene any such restrictions.

# APPLICATION FOR LISTING OF OUR SHARES ON GEM

Application has been made to the Stock Exchange for granting the listing of, and permission to deal in, on GEM, our Shares in issue as at the Distribution Record Date and our Shares to be issued pursuant to the Distribution and the Placing (including the additional Placing Shares which may be issued pursuant to the exercise of the Offer Size Adjustment Option, and upon exercise of any option granted or which may be granted under the Share Option Schemes). Dealings in our Shares on GEM are expected to commence on Thursday, 7 January 2016. Pursuant to Rule 11.23(7) of the GEM Listing Rules, at least 25% of the total issued share capital of the Company must at all times be held by the public. A total of 150,000,000 Placing Shares representing 25% of our issued share capital will be in the hands of the public immediately following completion of the Placing, and upon Listing (assuming the Offer Size Adjustment Option is not exercised and without taking into any new Shares which may be allotted and issued pursuant to the exercise of options granted or which may be granted under the Share Option Schemes).

Save as disclosed herein, none of our Shares are listed on or dealt in on any other stock exchange and no such listing or permission to list is being or is proposed to be sought in the near future.

Under section 44B(1) of the Companies (Winding Up and Miscellaneous Provisions) Ordinance, any allotment made in respect of any application for the Placing Shares will be invalid if the listing of, and permission to deal in, the Placing Shares on GEM is refused before the expiration of three weeks from the date of the closing of the Placing, or such longer period (not exceeding six weeks) as may, within the said three weeks, be notified to us by the Stock Exchange.

# ABOUT THE PLACING

We have not authorised anyone to provide any information or to make any representation not contained in this prospectus. You should not rely on any information or representation not contained in this prospectus as having been authorised by us, the Sponsor, the Joint Bookrunners, the Joint Lead Managers, the Underwriters or any of our or their respective directors, officers or representatives or any other persons involved in the Placing.
c. For the portions of the property of which the Pre-sale Permits have been obtained, Zhangzhou He’ai has the rights to legally pre-sell such portions according to the obtained Pre-sale Permits.

12. A summary of major certificates/approvals is shown as follows:

a. State-owned Land Use RihGCgts rant ontract	Yes
b. State-owned Land Use RihCigts ertifcate / Real Estate Title Certificate (for land)	Yes
c. Construction Land Planning Permit	Yes
d. Construction Work Planning Permit	Yes
e. Construction Work Commencement Permit	Yes
f. Pre-sale Permit	Portion
g. Construction Work Comlidpeton an Inspection Certificate/Table/Report	No

13. For the purpose of this report, the property is classified into the group as “Group IV—held under development by the Group in the PRC” according to the purpose for which it is held.
# VALUATION CERTIFICATE

No.	Property	Description and tenure	Particulars of occupancy	Market value
in existing state
as at
the valuation date
RMB
18.	Dynasty Chunfenli
glocated at the
southern side of
Shenlig West Road
and the western side
of Jinfeng South
Road
Xiangcheng District
Zhangzhou City
Fujian Province
The PRC
(漳州·大唐春風里)	Dynasty Chunfenliig (the “Project”) s
located at the southern side of Shenli
gWest Road and the western side of
Jinfeng South Road. The locality is a
residential and commercial area with
mature and sohipsticated infrastructural
facilities.	As at the valuation
date, thep roperty
was under
construction.	287,100,000
(51.00% interest
attributable to the
Group:
RMB146,400,000)
The Project occuipes ap arcel of land with
a site area of approximately 41,072.87
sq.m., which isb eing developed into a
residential and commercial development.
The Project was under construction as at
the valuation date and is scheduled tob e
comleted ipn January 2022. As advisedb y
the Group, upon comlpetion, the Project
will have a totalp lanned gross floor area
of approximately 140,192.68 sq.m.
As at the valuation date, thep roperty
comprised the wholep roject. The
classification, usage and gross floor area
details of thep roperty are set out in
note 7.
As advisedb y the Group, the construction
cost of thep roperty is estimated tob e
approximately RMB364,900,000, of
which approximately RMB700,000 had
been incurred as at the valuation date.
The land use rihfgts o thep roperthy ave
been granted for terms exipring on
December 18, 2089 for residential use and
December 18, 2059 for commercial use.

Notes:

1. Pursuant to a State-owned Land Use Rights Grant Contract—No. 35060020190925P010 dated October 12, 2019 and a Supplementary Contract, the land use rights of the Project with a site area of approximately 41,072.87 sq.m. were contracted to be granted to Zhangzhou Tangfeng Real Estate Development Co., Ltd.(漳州唐峰房地產開發有限公司, “Zhangzhou Tangfeng”, a 51.00%-owned subsidiary of the Company) for terms of 70 years for residential use and 40 years for commercial use commencing from the land delivery date. The land premium was RMB240,000,000.

2. Pursuant to a Construction Land Planning Permit—Di Zi Di No. 350600201900049, permission towards the land planning of the Project with a site area of approximately 41,072.87 sq.m. has been granted to Zhangzhou Tangfeng.

3. Pursuant to a Real Estate Title Certificate (for land)—Min (2019) Xiang Cheng Qu Bu Dong Chan Quan Di No. 0006347, the land use rights of the Project with a site area of approximately 41,072.87 sq.m. have been granted to Zhangzhou Tangfeng for terms expiring on December 18, 2089 for residential use and December 18, 2059 for commercial use.
# Change of Company Name and Company Logo

Subsequent to the passing of the special resolution regarding the proposed change of company name at the special general meeting of the Company held on 10 February 2021, the Company has received the relevant certificates’ copy on 26 March 2021 which were issued by the Registrar of Companies in Bermuda on 24 March 2021 regarding the change of company name of the Company, and the Company has adopted a new company logo with effect from 26 March 2021.

On behalf of the Board

CHAN Tan Na, Donna

Chairperson

Hong Kong, 31 March 2021
# New and amendments to IFRSs in issue but not yet effective

The Group has not early applied the following new and amendments to IFRSs that have been issued but are not yet effective:

IFRS 17	Insurance Contracts and the related Amend1ment
Amendment to IFRS 16	Covid-19-R4elated Rent Concessions
Amendments to IFRS 3	Reference to the Conceptual Framework2
Amendments to IFRS 9, IAS 39,
IFRS 7, IFRS 4 and IFRS 16	Interest Rate Benchmark Reform – Phase 25
Amendments to IFRS 10 and IAS 28	Sale or Contribution of Assets between an Investor and
i3ts Associate or Joint Venture
Amendments to IAS 1	Classifi1cation of Liabilities as Current or Non-current
Amendments to IAS 16	Property, Plant and Equipment – Proceeds before
Intended U2se
Amendments to IAS 1 and
IFRS Practice Statement 2	Discl1osure of Accounting Policies
Amendments to IAS 8	Definition of A1ccounting Estimates
Amendments to IAS 37	O2nerous Contracts – Cost of Fulfilling a Contract
Amendments to IFRSs	Annual Improvements to IFRSs 2018-20202

1 Effective for annual periods beginning on or after 1 January 2023.

2 Effective for annual periods beginning on or after 1 January 2022.

3 Effective for annual periods beginning on or after a date to be determined.

4 Effective for annual periods beginning on or after 1 June 2020.

5 Effective for annual periods beginning on or after 1 January 2021.

Except for the new and amendments to IFRSs mentioned below, the directors of the Company anticipate that the application of all other new and amendments to IFRSs will have no material impact on the consolidated financial statements in the foreseeable future.

# Amendments to IFRS 3 “Reference to the Conceptual Framework”

The amendments:

• Update a reference in IFRS 3 “Business Combinations” so that it refers to the Conceptual Framework for Financial Reporting issued by IASB in March 2019 (“the “Conceptual Framework”) instead of the International Accounting Standards Committee’s Framework for the Preparation and Presentation of Financial Statements (replaced for the Conceptual Framework for Financial Reporting issued in September 2010);

• Add a requirement that, for transactions and other events within the scope of IAS 37 “Provisions, Contingent Liabilities and Contingent Assets” or IFRIC 21 “Levies”, an acquirer applies IAS 37 or IFRIC 21 instead of Conceptual Framework to identify the liabilities it has assumed in a business combination; and

• Add an explicit statement that an acquirer does not recognise contingent assets acquired in a business combination.

The Group will apply the amendments prospectively to business combinations for which the date of acquisition is on or after the beginning of the first annual period beginning on or after 1 January 2022. The application of the amendments is not expected to have significant impact on the financial position and performance of the Group.
# IV. Major Opinions and Suggestions of the Special Committees of the Board in Performing Their Duties during the Reporting Period (Continued)

# (I) Audit Committee (Continued)

# 7. (Continued)

(2) At the meeting, the Audit Committee heard the reports of: the production & operation and the progresses of material matters from January to November 2017 and the assets and financial statuses as of 31 October 2017. The Audit Committee required the management to: pay close attention to the implementation of the Company’s development strategies; focus on the development of self-owned products and invest more on R&D; actively exploit the market; strengthen cost control and risk management; keep refining the governance structure and strengthen the standardized operation to level up the corporate governance; fully utilize the capital market to enlarge and strengthen the Company’s principal operations; and further enhance the Company’s image and achieve sound and rapid development. The Audit Committee also required the Company to: strengthen risk management and internal control; try its best to complete basic work of financial accounting; attach importance to and enhance control of accounts receivable and inventory to improve the capital usage efficiency; preferentially develop and increase investments in the main operations and control the overall scale of the operations with lower gross margins; strictly enforce the revenue and expenditure system; further improve and clarify the Company’s credit and work policies, determine a reasonable amount of guarantee provided for the subsidiary and maintain the credit scale at a reasonable level; and conduct disclosure of connected transactions in a good manner.

(3) At the meeting, the Audit Committee heard the reports of: 2017 internal control audit work and progress. The Audit Committee required the registered accountant for internal control audit to: timely communicate with the Company on the issues raised and provide specific suggestions or opinions for these issues; focus on the approval procedures and information disclosure of key audit matters; and provide guidance to the Company on enforcing a new accounting standard. The Audit Committee also required the internal audit department and the relevant persons in charge shall maintain communication with the registered accountant for internal control audit, provide full support for the internal control audit work and issue audit report; track and implement the matters submitted for attention; and propose and carry out rectification measures.

(4) At the meeting, the Audit Committee heard the reports of: 2017 internal control evaluation work plan and the relevant conditions. The Audit Committee also provided guidelines on the internal audit work and required the internal audit department of the Company to: conduct supervision and assessment on risks and internal control management of important units, operations and projects; and supervise and urge the rectification of major issues, and timely report to the Audit Committee should a major issue arise.
# IV. Major Opinions and Suggestions of the Special Committees of the Board in Performing Their Duties during the Reporting Period (Continued)

# (I) Audit Committee (Continued)

# 7. (Continued)

In addition, during the process of preparing and disclosing the 2017 Annual Report of the Company, the audit committee conducted various communication with the Company’s management, person in charge of finance and the registered accountant for annual audit in accordance with the “Audit Committee’s Work Regulation Regarding Annual Report” (《審核委員會年報工作規程》) and received the report on the preparation of 2017 annual report and met with the registered accountant for annual audit. The Audit Committee reviewed audit reports and financial statements and communicated on issues found during the audit process. It emphatically reviewed the key audit matters, accounting policy changes, the consolidated scope and changes and important matters related to connected transactions. The Company and the registered accountant for annual audit were required to seriously study all the latest provisions of the CSRC and of the relevant annual report as released by the local stock exchange where the Company was listed. The audit and disclosure of annual report were required to be conducted in a good manner.

# (II) Nomination Committee

The Nomination Committee is mainly responsible for reviewing and making recommendations as to the candidates and selection criteria & procedures for Directors and senior management members of the Company. The Rules of Procedure of the Nomination Committee have been published on the websites of the Company and the Hong Kong Stock Exchange. The Nomination Committee of the eighth session of the Board currently consists of Mr. Xu Guofei, Mr.Chen Kuanyi, Ms. Du Jie, Mr. Chu Wai Tsun, Vincent and Mr. Zhang Chun and is chaired by Mr. Chu Wai Tsun, Vincent. The Nomination Committee convened its first meeting for 2017 on 28 March 2017 and all members attended the meeting. The following resolutions were passed at the meeting:

1. The structure, size and composition of the Board (including skills, knowledge and experience) basically matched the Company’s operational activities, assets scale, equity structure, etc. It was suggested to further improve the corporate governance structure and increase the performance efficiency and capability according to the relevant national regulations and the Company’s actual operational needs.

2. The Independent Non-executive Directors of the Company were in compliance with the independence-related requirements of CSRC, SFC, Shanghai Stock Exchange and the Stock Exchange of Hong Kong Limited.

3. The senior management members of the Company had the necessary professional skills to perform their duties.

4. All Directors and senior management members should conscientiously study the relevant regulations of the regulators on trading Company’s stocks to ensure compliance of the procedures and full disclosure of information.