弘阳地产二零二三年中期报告

I N T E R I M R E P O R T2023 CONTENTS Corporate Information2 Financial Highlights5 Business Review and Outlook6 Management Discussion and Analysis11 Corporate Governance and Other Information41 Interim Condensed Consolidated Statement of Profit or Loss Interim Condensed Consolidated Statement of Comprehensive Income Interim Condensed Consolidated Statement ofFinancial Position Interim Condensed Consolidated Statement of Changes in Equity Interim Condensed Consolidated Statement of Cash Flows67 Notes to Interim Condensed Consolidated Financial Information71 CORPORATE INFORMATION BOARD OF DIRECTORS Executive Directors Mr. Zeng Huansha ()(Chairman and Chief Executive Officer)Mr. Zeng Junkai ()Mr. Lui Wai Pang () Independent Non-executive Directors Mr. Lee Kwok Tung Louis ()Mr. Leung Yau Wan John ()Mr. Au Yeung Po Fung () AUDIT COMMITTEE Mr. Leung Yau Wan John () (Chairman)Mr. Lee Kwok Tung Louis ()Mr. Au Yeung Po Fung () REMUNERATION COMMITTEE Mr. Lee Kwok Tung Louis () (Chairman)Mr. Zeng Junkai ()Mr. Leung Yau Wan John ()Mr. Au Yeung Po Fung () NOMINATION COMMITTEE Mr. Zeng Huansha () (Chairman)Mr. Lui Wai Pang ()Mr. Leung Yau Wan John ()Mr. Lee Kwok Tung Louis ()Mr. Au Yeung Po Fung () AUDITOR 97927 Ernst & YoungCertified Public AccountantsRegistered Public Interest Entity Auditor27/F, One Taikoo Place979 King’s RoadQuarry BayHong Kong LEGAL ADVISERS As to Hong Kong law:Paul Hastings Walkers As to Cayman Islands law:Walkers CAYMAN ISLANDS PRINCIPAL SHARE REGISTRARAND TRANSFER OFFICE Walkers Corporate LimitedCayman Corporate Centre190 Elgin AvenueGeorge TownGrand Cayman KY1-9008Cayman Islands Walkers Corporate LimitedCayman Corporate Centre190 Elgin AvenueGeorge TownGrand Cayman KY1-9008Cayman Islands HONG KONG SHARE REGISTRAR Link Market Services (Hong Kong) Pty Limited28161601 Link Market Services (Hong Kong) Pty LimitedSuite 1601, 16/F, Central Tower28 Queen’s Road CentralHong Kong REGISTERED OFFICE Cayman Corporate Centre190 Elgin AvenueGeorge TownGrand Cayman KY1-9008Cayman Islands Cayman Corporate Centre190 Elgin AvenueGeorge TownGrand Cayman KY1-9008Cayman Islands HEAD OFFICES IN THE PRC 926 26th Floor,Hong Yang Building,No. 9 Daqiao North Road, Pukou District, Nanjing,Jiangsu Province CORPORATE INFORMATION PRINCIPAL PLACE OF BUSINESS IN HONG KONG 262612 Room 2612, 26/FChina Merchants Tower, Shun Tak CentreSheung WanHong Kong JOINT COMPANY SECRETARIES Mr. Li Yonggang ()Ms. Yung Mei Yee () AUTHORIZED REPRESENTATIVES Mr. Zeng Huansha ()Ms. Yung Mei Yee () PRINCIPAL BANKS Agricultural Bank of China(Pukou Sub-branch) Industrial and Commercial Bank of China(Xiaguan Sub-branch) Bank of Communications(Nanjing City Chengzhong Sub-branch) www.rsunproperty.hk WEBSITEwww.rsunproperty.hk 1996 STOCK CODE HKEx: 1996 FINANCIAL HIGHLIGHTS 2023630 The board (the “Board”) of directors (the “Directors”) of RedsunProperties Group Limited (the “Company”) is pleased to announcethe unaudited consolidated interim results of the Company and itssubsidiaries (the “Group”) for the six months ended 30 June 2023(the “Reporting Period”). •130.25926,04214,066 •Contracted sales reached RMB13.025 billion, aggregated salesarea was 926,042 square meters and the average selling pricewas RMB14,066 per square meter; 6,098.7202251.6%13.4%365.12022322.1 •Revenuedecreased by 51.6%to RMB6,098.7 million ascompared to the corresponding period of 2022. Revenue fromcommercialoperations and hotel operations increased by13.4%to RMB365.1 million(corresponding period of 2022:RMB322.1 million); 86.31.4%906.614.9% ••Gross profit and gross profit margin were RMB86.3 million and1.4%, respectively, and gross profit and gross profit marginafterdeduction of the provision for impairment losses ofproperties under development and completed properties heldfor sale were RMB906.6 million and 14.9%, respectively; 2,843.62022405.5 •Net loss amounted to RMB2,843.6 million (corresponding periodof 2022: net loss of RMB405.5 million); and 20236302022 •The Board does not recommend the payment of any interimdividend for the six months ended 30 June 2023 (2022 Interim:Nil). BUSINESS REVIEW AND OUTLOOK 2023 REVIEW FOR THE FIRST HALF OF 2023 2023593,0345.5%20237 According to the National Bureau of Statistics, in the first half of2023, the GDP of China was RMB59,303.4 billion, representing a year-on-year increase of 5.5% at constant prices and remaining a leadingeconomic recovery pace among major economies around the globe.In July 2023, the meeting of the Political Bureau of the CPC CentralCommittee stated that, since the beginning of this year, despite therecovering national economy and the overall improving recovery,therehave been new difficulties and challenges to the currenteconomicoperation.In the real estate sector,as affected byunfavorable factors such as the slowdown of economic growth, thereductionof residents’willingness to consume housing and theindustry scale reaching the peak in prior p