绿地香港2023 中期报告

INTERIM REPORT中期報告2023 CONTENTS 2Corporate Information4Financial Highlights6Management Discussion and Analysis19Corporate Governance andOther Information29Condensed Consolidated Statement of Profitor Loss and Other Comprehensive Income31Condensed Consolidated Statement ofFinancial Position33Condensed Consolidated Statement ofChanges in Equity34Condensed Consolidated Statement ofCash Flows35Notes to the Condensed ConsolidatedFinancial Statements59Glossary CORPORATE INFORMATION DIRECTORSExecutive Directors Mr. Chen Jun(Chairman)Mr. Wang Weixian(Honorary Chairman)Mr. Hou Guangjun(Chief Operation Officer)Mr. Wu ZhengkuiMs. Wang XulingDr. Li Wei Independent Non-Executive Directors Mr. Fong Wo, Felix, JPMr. Kwan Kai CheongDr. Lam, Lee G., JP AUDIT COMMITTEE Mr. Kwan Kai Cheong(Chairman)Mr. Fong Wo, Felix, JPDr. Lam, Lee G., JP REMUNERATION COMMITTEE Mr. Kwan Kai Cheong(Chairman)Mr. Chen JunMs. Wang XulingMr. Fong Wo, Felix, JPDr. Lam, Lee G., JP NOMINATION COMMITTEE Mr. Chen Jun(Chairman)Mr. Hou GuangjunMr. Fong Wo, Felix, JPMr. Kwan Kai CheongDr. Lam, Lee G., JP COMPANY SECRETARYMs. Fung Wai Sum AUTHORISED REPRESENTATIVES Mr. Chen JunMr. Hou Guangjun CORPORATE INFORMATION(Continued) REGISTERED OFFICE Cricket SquareHutchins DriveP.O. Box 2681Grand Cayman, KY1-1111Cayman Islands Cricket SquareHutchins DriveP.O. Box 2681Grand Cayman, KY1-1111Cayman Islands HEADQUARTERSNo. 193 Xiehe RoadChangning DistrictShanghai, China 193 PRINCIPAL PLACE OF BUSINESSIN HONG KONG Room 5711, 57th FloorThe Center99 Queen’s Road CentralHong Kong 99575711 WEBSITEhttp://www.greenlandhk.com http://www.greenlandhk.com AUDITORDeloitte Touche Tohmatsu • LEGAL ADVISERSAs to Hong Kong law: Derek Tsang Law OfficeAs to PRC law: Shanghai City Development Law Firm SHARE REGISTRAR 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong FINANCIAL HIGHLIGHTS FINANCIAL HIGHLIGHTS(Continued) MANAGEMENT DISCUSSION AND ANALYSIS I.INDUSTRY REVIEW In 2022, under the impact of multiple unfavorable external factors,the industry’s sales scale contracted significantly, and the entire realestate industry of the PRC experienced unprecedented difficulties.However, in 2023, with the Chinese government fully lifting thepandemic prevention and control measures, the country emergedfrom the haze of the COVID-19 pandemic (“COVID-19”) that hadlasted for several years, and with the support of multiple real estatepolicies, market confidence gradually recovered. China’s GDP grewby 4.5% year-on-year in the first quarter of 2023, a significant year-on-year improvement, reflecting a significant rebound in China’seconomy subsequent to the COVID-19 pandemic. Coupled with thefurther implementation of real estate easing policies, this has restoredhomebuyers’ confidence and led to the release of demand thathad piled up during the pandemic, leading to boosted sales in theproperty market in the first quarter of the year. COVID-19GDP4.5% According to the statistics released by the National Bureau ofStatistics, from January to April this year, the national residential salesof commodity properties increased by 11.8% and the floor areasold increased by 2.7% year-on-year, registering positive growth ratefor two consecutive months. However, with the return to normalizedeconomic operation, the previously suppressed demand for residentialdwellings was released in a rapid pace, leading to a rebound ofthe real estate market in the first quarter of the year, followed by aslowdown subsequently. The situation in May suggested that the realestate market was generally stable, whilst multiple factors contributedto the relatively sluggish pace in real estate development andconstruction, as seen in the slow recovery of the real estate market inthe first half of the year. 11.8%2.7% On 10 July evening, the People’s Bank of China and the StateAdministration of Financial Supervision released the “NoticeRegarding the Time Extension of Financial Policies Aimed atSupporting the Stable and Healthy Development of the Real EstateMarket”, extending the validity period of the policies under the“16-Point Plan”, which was launched in November last year, to 30December 2024. Under the principle of city-specific policies, effortsmade by local governments to moderately slacken restrictions onpurchases and lendings, to step up support to home purchases withpension funds and to lower or waive levies on property transactions,contributed positively to fostering the soft landing of the real estateindustry. In 2023, the government emphasized that the principle of“no speculation on residential properties” will remain unchanged,and “stabilizing land prices, house prices and expectations” willcontinue, aiming at healthy development of the real estate marketbased on city-specific policies. MANAGEMENT DISCUSSION AND ANALYSIS(Continued) II.BUSINESS REVIEWResults During the period under review, the Group capitalized on theopportunities presented by ma