正商实业二零二零年年报

ANNUAL REPORT 年報2020Zensun Enterprises Limited Annual Report 2020 正商實業有限公司二零二零年年報WEBSITE 網址www.zensunenterprises.comSTOCK CODE 股份代號Stock Exchange 聯交所: 185Bloomberg 彭博資訊 : 185 HKReuters 路透社 : 0185.HKCHINA 中國No. 1 Gangwan Road, Guancheng District,Zhengzhou City, Henan Province, PRC中國河南省鄭洲市管城區, 港灣路1 號HONG KONG 香港24th Floor, Wyndham Place,40-44 Wyndham Street, Central, Hong Kong香港中環雲咸街40-44 號, 雲咸商業中心24 樓UNITED STATES OF AMERICA 美國2 Bethesda Metro Center, Suite 440 Bethesda,MD 20814, United States of America封面及封底: 鄭州正商瓏水上境Cover & Back cover : Zhengzhou Zensun Longshuishangjing本年報以再造紙印制。This annual report is printed on recycled paper. Past Performance and Forward Looking StatementsThe performance and the results of operations of Zensun Enterprises Limited (the “Company”) and its subsidiaries (collectively, the “Group”) as set out in this annual report are historical in nature and past performance is not a guarantee of future performance. This annual report may contain forward-looking statements and opinions (including statements, figures, plans, images and other information) that involve risks and uncertainties. Actual results may also differ materially from expectations discussed in such forward-looking statements and opinions. Neither the Group nor any of its directors, employees or agents shall assume any obligations or liabilities in the event that any forward-looking statements or opinions does not materialise or turns out to be incorrect.過往表現及前瞻性陳述正商實業有限公司（「本公司」）及其附屬公司（統稱「本集團」）在本年報所載的業務表現及營運業績僅屬歷史數據，過往表現並不保證日後表現。本年報或載有前瞻性陳述及意見（包括陳述、數字、計劃、圖像及其他資料）而當中涉及風險及不明朗因素。實際業務表現可能與前瞻性陳述及意見中論及的預期表現有重大差異。本集團、及其任何董事、僱員、代理均不承擔倘因任何前瞻性陳述或意見不能實現或變得不正確而引致的任何責任。In case of any inconsistency between the English text and the Chinese translation of this annual report, the English text shall prevail.本年報之英文版本與中文版本如有歧義，概以英文版本為準。Corporate Profile公司簡介Corporate Information公司資料Chairman’s Message主席致詞Hong Kong and Overseas Property Portfolio香港及海外物業組合Property Development in the PRC and Project Summary在中國之物業發展及項目概要Management Discussion and Analysis管理層討論及分析Board of Directors and Senior Management董事會及高級管理層Report of the Directors董事會報告書Corporate Governance Report企業管治報告2347824374362Independent Auditor’s Report獨立核數師報告Consolidated Statement of Profit or Loss綜合損益賬Consolidated Statement of Comprehensive Income綜合全面收益賬Consolidated Statement of Financial Position綜合財務狀況報表Consolidated Statement of Changes in Equity綜合權益變動表Consolidated Statement of Cash Flows綜合現金流量表Notes to Financial Statements財務報表附註Financial Summary財務概要Particulars of Major Investment Properties主要投資物業概要75858687899092199200目錄TABLE OF CONTENTS 2Zensun Enterprises Limited 正商實業有限公司CORPORATE PROFILE公司簡介Zensun Enterprises Limited (the “Company”) was founded in 1965 and listed on the Main board of the Stock Exchange of Hong Kong since 1972. The Company and its subsidiaries (collectively, the “Group”) primarily engages in property development, property investment, project management and sales services and securities trading and investment in Hong Kong, People’s Republic of China (the “PRC”) and overseas.With the change of controlling shareholder of the Company since July 2015, the Group has been expanding its business in the property development sector in the PRC. From mid 2015 and up to 2020, the Group completed 146 land acquisitions through tenders, public listings for sale auctions and other merger and acquisitions in support of the land reserves for property development business in Henan Province, Beijing and Hubei Province. As at 31 December 2020, the Group had 19 completed property projects and/or sub-phases and 55 on-going complex property projects on hand with 122 land parcels under development and planning constituting the Group’s land reserves with an aggregate site area of approximately 5.19 million square meters (“sq.m.”) and aggregate estimated GFA of approximately 10.52 million sq.m. in the PRC. In return, the land reserves will bring to the Group an estimated saleable/leasable GFA under development of approximately 6.26 million sq.m. and estimated GFA under planning of approximately 4.26 million sq.m. After the ambitious land acquisitions completed in recent years, the Group built up strong land reserves for the Group’s property development business in the PRC for the next three to four years with a strong presence in Henan Province. In the foreseeable future, the Company will continue to identify new property development projects and bid for land use rights of selective land parcels in the PRC with focus on Henan Province, as well as other selective first and second tier cities in the PRC.In the United States (“USA” or “U.S.”), the Group currently holds approximately 7.5% equity interest over the NYSE-listed real estate investment trust (“REIT”), Global Medical REIT, Inc. (“GMR”), and continues to