阳光100中国2021年度报告

CONTENTS 2Corporate Information 5Chairman’s Statement Financial Summary 9 11Management Discussion and Analysis 51Directors and Senior Management Report of the Directors 63 98Corporate Governance Report 126Independent Auditor’s Report 132Consolidated Statement of ComprehensiveIncome Consolidated Statement of Financial Position 134 Consolidated Statement of Changes in Equity 136 138Consolidated Statement of Cash Flows 141Notes to the Consolidated Financial Statements CORPORATE INFORMATION Board of DirectorsExecutive DirectorsMr. Yi Xiaodi(Chairman)Mr. Fan Xiaochong(Vice Chairman) Non-executive DirectorsMs. Fan XiaohuaMr. Wang Gongquan 2021123120211231 Independent Non-executive Directors Mr. Gu YunchangMr. Ng Fook Ai, VictorMr. Wang Bo (resigned on 31 December 2021)Mr. Li Chunping (appointed on 31 December 2021) 20211231 Audit Committee Mr. Ng Fook Ai, Victor(Chairman)Mr. Gu YunchangMr. Li Chunping (appointed on 31 December 2021) 2021123120211231 Remuneration Committee Mr. Wang Bo(former Chairman) (resigned on 31 December 2021)Mr. Li Chunping(Chairman) (appointed on 31 December 2021)Mr. Fan XiaochongMr. Gu Yunchang Nomination Committee 2021123120211231 Mr. Yi Xiaodi(Chairman)Mr. Gu YunchangMr. Wang Bo (resigned on 31 December 2021)Mr. Li Chunping (appointed on 31 December 2021) 2021615 Company SecretaryMr. Tsang Ho YinMr. He Jie (resigned on 15 June 2021) www.ss100.com.cn Company’s Websitewww.ss100.com.cn Authorised RepresentativesMr. Yi XiaodiMr. Tsang Ho Yin CORPORATE INFORMATION Registered Office One Nexus Way,Camana Bay,Grand Cayman KY1-9005,Cayman Islands One Nexus Way,Camana Bay,Grand Cayman KY1-9005,Cayman Islands Head Office12th Floor, Tower DNo. 2 Guang Hua RoadBeijing 100026PRC 2D12100026 Principal Place of Business in Hong Kong 39/F, Gloucester Tower, The Landmark15 Queen’s Road CentralCentralHong Kong 1539 1533 Legal Adviser Morrison & Foerster33/F, Edinburgh Tower, The Landmark15 Queen’s Road CentralCentralHong Kong Auditor 1842 Mazars CPA Limited42nd Floor, Central Plaza18 Harbour RoadWanchai, Hong Kong Principal Banks Bank of ChinaHua Xia BankChina Construction BankChina Everbright BankChina Merchants Bank CORPORATE INFORMATION Hong Kong Branch Share Registrar andTransfer Office 18317M Computershare Hong Kong Investor Services Limited17M Floor, Hopewell Centre183 Queen’s Road East,WanchaiHong Kong Principal Share Registrar and Transfer Office Suntera (Cayman) LimitedSuite 3204, Unit 2A,Block 3, Building D,P.O. Box 1586, Gardenia Court,Camana Bay, Grand Cayman,KY1-1100, Cayman Islands Suntera (Cayman) LimitedSuite 3204, Unit 2A,Block 3, Building D,P.O. Box 1586, Gardenia Court,Camana Bay, Grand Cayman,KY1-1100, Cayman Islands Listing Information Place of listing: The Stock Exchange of Hong Kong Limited(the “Stock Exchange”)Stock code: 2608 2608 CHAIRMAN’S STATEMENT 10020211231 On behalf of the board (the “Board”) of directors (the “Director(s)”)of Sunshine 100 China Holdings Ltd (“the Company”, together withits subsidiaries,“the Group”), I am pleased to present the businessreview for the year ended 31 December 2021 (the “ReportingPeriod”) and outlook to the shareholders of the Company. Results 202120218113,221294,872 In 2021, as affected by governmental policies of the PRC, credit wastightened across the board and the market contracted significantlyin the real estate industry. Under such circumstances the Companyencountered unprecedented difficulties and defaulted on its debts forthe first time on 11 August 2021. Meanwhile, due to financial stressand on-going project development and construction, sales for the yeardropped significantly, with contracted sales amounting to RMB3,221million and contracted sales area amounting to 294,872 square meters,which means only approximately one-third of the plan for the year wasbeing achieved. The revenue decreased to RMB5,399.2 million as compared to that of2020, while the gross profit decreased by 50.6% to RMB755.1 millionand gross profit margin decreased by 12.6 percentage points to 14.0%.In addition, during the Reporting Period, the sales income decreased,and the gross profit from delivery of houses decreased compared withlast year. At the same time, due to the adverse impact caused by thecontinuous and repeated outbreaks of the COVID-19 pandemic, andthe fact that the overall real estate market was in a downward trend,the impairment loss provision for this period provided to loans forthird parties and recognised impairment losses on assets increasedas compared to last year, resulting in an annual loss of RMB3,730.0million during the Reporting Period. 20205,399.250.6%755.112.614.0%3,730.0 CHAIRMAN’S STATEMENT Business Review 1. 1.Securing fund acquisition, ensuring performance ofcontracts 2021202185,239 Since the first half of 2021, the Company has experienced asignificant decline in its property sales due to the impact of theCOVID-19 pandemic and lack of funding, effect of which