阳光100中国2023年度报告

CONTENTS 2Corporate Information Chairman’s Statement 5 Financial Summary 9 Management Discussion and Analysis 46Directors and Senior Management Report of the Directors 55 Corporate Governance Report 90 Independent Auditor’s Report 119 Consolidated Statement of ComprehensiveIncome 125 Consolidated Statement of Financial Position 127 Consolidated Statement of Changes in Equity 129 131Consolidated Statement of Cash Flows 133Notes 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 Independent Non-executive DirectorsMr. Gu YunchangMr. Ng Fook Ai, VictorMr. Li Chunping Audit CommitteeMr. Ng Fook Ai, Victor(Chairman)Mr. Gu YunchangMr. Li Chunping Remuneration CommitteeMr. Li Chunping(Chairman)Mr. Fan XiaochongMr. Gu Yunchang Nomination CommitteeMr. Yi Xiaodi(Chairman)Mr. Gu YunchangMr. Li Chunping Company SecretaryMr. Tsang Ho Yin www.ss100.com.cn Company’s Websitewww.ss100.com.cn Authorised RepresentativesMr. Yi XiaodiMr. Tsang Ho Yin CORPORATE INFORMATION Registered Office One Nexus WayCamana BayGrand Cayman KY1-9005,Cayman Islands One Nexus Way,Camana Bay,Grand Cayman KY1-9005,Cayman Islands Head Office 12th 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 Limited,17M 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 2ABlock 3, Building DP.O. Box 1586, Gardenia CourtCamana Bay, Grand CaymanKY1-1100, Cayman Islands Listing Information Place of listing: The Stock Exchange of Hong Kong Limited(the “Stock Exchange”)Stock code: 2608 2608 CHAIRMAN’S STATEMENT Yi Xiaodi Dear Shareholders, 10020231231 On behalf of the board (the “Board”) of directors (the “Director(s)”) ofSunshine 100 China Holdings Ltd (the “Company”, together with itssubsidiaries, the “Group”), I present the business review and outlookof the Group for the year ended 31 December 2023 (the “ReportingPeriod”). Market Review 20231 In 2023, with the end of the pandemic, there was widespreadanticipation for a strong economic recovery. However, afterexperiencing a brief market rebound in the first quarter, there wasa decline in both quantity and price, with the market sentimentremaining low. Residents’ willingness to purchase homes wasweak, and although there were policy incentives, housing prices andsales continued to decline, leading to a sustained decrease in newprojects and development investments. Overall, the market still facedtremendous pressure. Business Review 100202251.8% The past year was undoubtedly an extremely difficult one for Sunshine100. While debt defaults were still being resolved, coupled with asluggish sales market and difficulties in retrieving funds, the contractsales amount decreased by 51.8% compared to 2022, and the Group’scash flow situation remained tight. However, in the face of challengesand difficulties, we did not choose to lay down and do nothing. We arewell aware that only by actively facing and taking initiative can we findsolutions to problems. CHAIRMAN’S STATEMENT 1. 1.Ensuring Delivery: 202348511,565202272% Continuing to respond to the government’s policy of ensuringdelivery, the Company received a total of RMB48 million inrelief funds in 2023, ensuring the smooth delivery of projectsand protecting the rights and interests of customers. With thesupport of local governments and construction partners, thecompleted construction area was 511,565 square meters, anincrease of 72% compared to 2022. 2. 2.Enhancing Operations: In response to the market environment and intensifiedcompetition, the Company gradually transformed itself into acomprehensive operator. In the relatively tight funding situation,we actively responded by optimizing operating strategies andimproving service quality, successfully attracting more high-quality merchants to settle in. The commercial operating areaachieved steady growth, ensuring the continued operation ofall commercial streets and the Himalayas, and creating a safe,comfortable, and vibrant commercial environment for ownersand tenants. Investment property income in