正商实业2023年中期报告

2Corporate Information4Property Development in the PRC and Project Summary17Management Discussion and Analysis29Other Information37Interim Condensed Consolidated Statement of Profit or Loss38Interim Condensed Consolidated Statement of Comprehensive Income39Interim Condensed Consolidated Statement of Financial Position41Interim Condensed Consolidated Statement of Changes in Equity43Interim Condensed Consolidated Statement of Cash Flows45Notes to the Interim Condensed Consolidated Financial Information Past Performance and Forward Looking Statements The performance and the results of operations of Zensun Enterprises Limited (the “Company”) and its subsidiaries(collectively, the “Group”) as set out in this interim report are historical in nature and past performance is not aguarantee of future performance. This interim report may contain forward-looking statements and opinions (includingstatements, figures, plans, images and other information) that involve risks and uncertainties. Actual results may alsodiffer materially from expectations discussed in such forward-looking statements and opinions. Neither the Group norany of its directors, employees or agents shall assume any obligations or liabilities in the event that any forward-lookingstatements or opinions does not materialise or turns out to be incorrect. Zensun Enterprises Limited2 CORPORATE INFORMATION BOARD OF DIRECTORS Executive DirectorsZhang Jingguo(Chairman andChief Executive Officer)Zhang Guoqiang Non-Executive DirectorHuang Yanping Huang Yanping Independent Non-Executive DirectorsLiu DaMa YuntaoLi Huiqun AUDIT COMMITTEELiu Da(Chairman)Ma YuntaoLi Huiqun REMUNERATION COMMITTEEMa Yuntao(Chairman)Zhang JingguoLi Huiqun NOMINATION COMMITTEELi Huiqun(Chairman)Zhang JingguoLiu Da AUTHORISED REPRESENTATIVESZhang JingguoZhang Guoqiang COMPANY SECRETARYYuen Ping Man AUDITORErnst & YoungRegistered Public Interest Entity Auditor SOLICITORHowse Williams PRINCIPAL BANKERS China Construction Bank (Asia)Corporation LimitedCredit Suisse AGEast West BankHang Seng Bank LimitedIndustrial and Commercial Bank ofChina (Asia) LimitedUnited Overseas Bank Limited 1617 SHARE REGISTRAR Tricor Friendly Limited17/F, Far East Finance Centre,16 Harcourt RoadHong Kong 40-4424 REGISTERED OFFICE 24th FloorWyndham Place40-44 Wyndham StreetCentral, Hong Kong CORPORATE WEBSITEwww.zensunenterprises.com* www.zensunenterprises.com* INVESTOR RELATIONSEmail: ir@185hk.com ir@185hk.com STOCK CODEStock Exchange: 185 185 PROPERTY DEVELOPMENT IN THE PRC ANDPROJECT SUMMARY 20236 3047511094.258.455.693.58 As at 30 June 2023, the Group had 47 completedproperty projects and/or sub-phases and 51 on-goingcomplex property projects on hand with 109 landparcels under development and planning with anaggregate site area of approximately 4.25 million squaremetres (“sq.m.”) and aggregate estimated gross floorarea (“GFA”) of approximately 8.45 million sq.m. in thePeople’s Republic of China (“PRC”). In return, the landreserves will bring to the Group with estimated saleable/leasable GFA under development of approximately5.69 million sq.m. and estimated GFA under planning ofapproximately 3.58 million sq.m.. MANAGEMENT DISCUSSION AND ANALYSISINTERIM RESULTS AND DIVIDEND During the Period, the Group recorded revenue ofapproximately RMB5,914.1 million and gross profitof approximately RMB538.6 million, with an increaseof approximately 50.1% as compared to revenue ofapproximately RMB3,941.0 million and a decrease ofapproximately 8.9% as compared to gross profit ofapproximately RMB591.2 million for the correspondingperiod of 2022, respectively. Revenue and gross profitof the Period and the corresponding period of 2022were primarily derived from the property developmentbusiness in the PRC. The increase in revenue duringthe Period was mainly contributed by more deliveryof saleable/leasable gross floor area (“GFA”) fromthe delivery of the Group’s completed propertydevelopment projects during the Period as comparedto the corresponding period of 2022. The decreasein gross profit during the Period as compared to thecorresponding period of 2022 was resulted from therecognition of certain lower profit margin propertyprojects during the Period, which was caused by higherunexpected construction cost and suppressed sellingprices under the decreasing public purchasing desiresand power derived from the macroeconomic downturnand the continued depletion of demand in real estateproperties. 5,914.1538.620223,941.050.1%591.28.9%202220222022 The Group had other income of approximatelyRMB4.1 million during the Period, with a decrease ofapproximately 65.8% as compared to approximatelyRMB12.0 million for the corresponding period of 2022.It was primarily attributable to the decrease in interestincome and income from heat supply managementservices during the Period. 4.1202212.065.8% The Group had net other losses of approximatelyRMB509.9 million during the Period, as compared tonet other losses of a