GUOQUAN FOOD (SHANGHAI) CO., LTD. (GUOQUAN) HAS BEEN ISSUED FOR THE ANNUAL REPORT AND BUSINESS REVIEW FOR THE YEAR ENDED 31 DECEMBER 2023. GUOQUAN, AS CHINA'S LEADING FAMILY FOOD BRAND, FOCUSES ON HOME HOT POT AND BBQ PRODUCTS, OFFERING A WIDE RANGE OF READY-TO-EAT, HOT, READY-TO-COOK AND PREPARED INGREDIENTS. AS OF THE END OF 2023, GUOQUAN HAS 10,307 AFFILIATED STORES IN CHINA AND HAS DEVELOPED ONLINE SALES CHANNELS INCLUDING GUOQUAN APP, WECHAT WIDGETS, AND PARTNERSHIPS WITH THIRD-PARTY TAKEAWAY PLATFORMS SUCH AS MYTHUN AND HUNGRY. Striving to be China's preferred home dining brand, the company's mission is to source quality ingredients globally and provide diverse, convenient, high quality and affordable home dining products. The Board of Directors...Show More

GUOQUAN FOOD (SHANGHAI) CO., LTD. (GUOQUAN) HAS BEEN ISSUED FOR THE ANNUAL REPORT AND BUSINESS REVIEW FOR THE YEAR ENDED 31 DECEMBER 2023. GUOQUAN, AS CHINA'S LEADING FAMILY FOOD BRAND, FOCUSES ON HOME HOT POT AND BBQ PRODUCTS, OFFERING A WIDE RANGE OF READY-TO-EAT, HOT, READY-TO-COOK AND PREPARED INGREDIENTS. AS OF THE END OF 2023, GUOQUAN HAS 10,307 AFFILIATED STORES IN CHINA AND HAS DEVELOPED ONLINE SALES CHANNELS INCLUDING GUOQUAN APP, WECHAT WIDGETS, AND PARTNERSHIPS WITH THIRD-PARTY TAKEAWAY PLATFORMS SUCH AS MYTHUN AND HUNGRY. Striving to be China's preferred home dining brand, the company's mission is to source quality ingredients globally and provide diverse, convenient, high quality and affordable home dining products. The Board of Directors proposes the distribution of a final cash dividend of RMB0.0521 per share for the year ended December 31, 2023. The company's revenue for the full year 2023 was RMB6,094.1 million, down approximately 15.0% from the previous year. However, net profit was RMB263.4 million, an increase of about 9.3% year-on-year. The annual report details the company's environmental, social and governance (ESG) policies and performance, emphasizing product quality, consumer service, employment compliance, environmental protection and public responsibility. No other equity financing activities were undertaken by the Company during the reporting period. IN ADDITION, THE REMUNERATION COMMITTEE IS RESPONSIBLE FOR OVERSEEING THE REMUNERATION POLICIES AND PLANS OF THE COMPANY'S DIRECTORS AND SENIOR MANAGEMENT AND REPORTS TO THE BOARD. For the year ended 31 December 2023, directors, supervisors and the five highest-paid individuals did not receive any remuneration as a result of joining the Group or as compensation for loss of position. Notes 9 and 10 to the Consolidated Financial Statements of the Annual Report detail the remuneration of directors, supervisors and the five highest-paid individuals for the year ended 31 December 2023. The report also details the interests and short positions of directors, supervisors and CEOs in the shares, prospective shares and bonds of the Company and its affiliates as of December 31, 2023, including significant shareholdings and their changes.