时代中国控股2023中期报告

(Incorporated in the Cayman Islands with limited liability)() Stock Code1233 CONTENTS 2Corporate Information 6Financial Highlights 8Business Review 41Corporate Governance and Other Information 50Interim Condensed Consolidated Statement of Profit or Loss 51Interim Condensed Consolidated Statement ofComprehensive Income 52Interim Condensed Consolidated Statement of Financial Position 54Interim Condensed Consolidated Statement of Changes in Equity 56Interim Condensed Consolidated Statement of Cash Flows 59Notes to Interim Condensed Consolidated Financial Information CORPORATE INFORMATION BOARD OF DIRECTORS Executive Directors Mr. Shum Chiu Hung(Chairman and Chief Executive Officer)Mr. Guan JianhuiMr. Bai XihongMr. Li QiangMr. Shum Siu HungMr. Niu Jimin Independent Non-executive Directors Mr. Jin QingjunMs. Sun HuiMr. Wong Wai Man COMPANY SECRETARYMs. Yu Wing Sze AUTHORISED REPRESENTATIVESMr. Li QiangMs. Yu Wing Sze AUDIT COMMITTEE Mr. Wong Wai Man(Chairman)Mr. Jin QingjunMs. Sun Hui REMUNERATION COMMITTEE Ms. Sun Hui(Chairman)Mr. Shum Chiu HungMr. Wong Wai Man CORPORATE INFORMATION NOMINATION COMMITTEE Mr. Shum Chiu Hung(Chairman)Mr. Jin QingjunMs. Sun Hui REGISTERED OFFICE Windward 3Regatta Office ParkPO Box 1350Grand CaymanKY1-1108Cayman Islands Windward 3Regatta Office ParkPO Box 1350Grand CaymanKY1-1108Cayman Islands PRINCIPAL PLACE OF BUSINESS INTHE PEOPLE’S REPUBLIC OF CHINA 36-38/F, Times Property Center410-412 Dongfeng Zhong RoadGuangzhouGuangdong ProvincePRC 410-41236-38 PRINCIPAL PLACE OF BUSINESSIN HONG KONG 8393905-3908 Suites 3905-3908, 39/FTwo Exchange Square8 Connaught PlaceCentralHong Kong CORPORATE INFORMATION PRINCIPAL SHARE REGISTRARAND TRANSFER OFFICE Ocorian Trust (Cayman) LimitedWindward 3Regatta Office ParkPO Box 1350Grand CaymanKY1-1108Cayman Islands Ocorian Trust (Cayman) LimitedWindward 3Regatta Office ParkPO Box 1350Grand CaymanKY1-1108Cayman Islands HONG KONG SHARE REGISTRAR 183171712-1716 Computershare Hong Kong Investor Services LimitedShops 1712-1716, 17th FloorHopewell Centre183 Queen’s Road EastWanchaiHong Kong LEGAL ADVISERS 839 As to Hong Kong and U.S. law:Sidley AustinLevel 39, Two International Finance Centre8 Finance StreetCentralHong Kong 112-14 As to PRC law:Commerce & Finance Law Offices12-14/F, China World Office 2No. 1 Jianguomenwai AvenueChaoyang DistrictBeijingChina 18424201-03 12 As to Cayman Islands law:ApplebySuites 4201-03 & 12, 42/FOne Island East, Taikoo Place18 Westlands RoadQuarry BayHong Kong CORPORATE INFORMATION INDEPENDENT AUDITOR Ernst & YoungCertified Public AccountantsRegistered Public Interest Entity Auditor27/F, One Taikoo Place979 King’s RoadQuarry BayHong Kong 97927 STOCK CODE1233 1233 COMPANY’S WEBSITEwww.timesgroup.cn www.timesgroup.cn PRINCIPAL BANKERS Industrial and Commercial Bank of China LimitedAgricultural Bank of ChinaChina Construction BankBank of ChinaShanghai Pudong Development BankPing An Bank Co., Ltd.China Merchants Bank To supplement our condensed consolidated financialstatements, which are prepared and presented in accordancewith GAAP, we use the following non-GAAP financialmeasures: core net (loss)/profit. Core net (loss)/profitrepresents net (loss)/profit less changes in fair value of self-owned investment properties, and net of the impact of therelated deferred tax and changes in fair value of derivativefinancial instruments, which are material extraordinary ornon-recurring income or expenses. We believe that thesenon-GAAP measures are broadly used by management andinvestors to ascertain the Group’s profitability and provideopportunities for investors to have a better understanding onthe Group’s operational efficiency. These non-GAAP financialmeasures presented here do not have standardized meaningsprescribed by GAAP and may not be comparable to similarlytitled measures presented by other companies. Othercompanies may calculate similarly titled measures differently,limiting their usefulness as comparative measures to our data. 1. BUSINESS REVIEW OVERVIEW 9,932.252.8%1,409.71,440.81,410.31,469.21,689.51,713.2801 For the six months ended 30 June 2023 (the “Period”), Times ChinaHoldings Limited (the “Company”) and its subsidiaries (collectively,the “Group”) recorded a revenue of RMB9,932.2 million, representingan increase of 52.8% when compared with the same period for thesix months ended 30 June 2022. Loss for the Period amountedto RMB1,409.7 million for the six months ended 30 June 2023,representing a decrease of RMB1,440.8 million as compared to theprofit for the period for the six months ended 30 June 2022. Core netloss for the six months ended 30 June 2023 (net loss less changes infair value of self-owned investment properties, and net of the impactof the related deferred tax and changes in fair value of derivativefinancial instruments) was RMB1,410.3 million, representing adecrease of RMB1,469.2 million from the core net profit for the sixmonths ended 30 June