德信中国年度报告 2023

2023Annual Report年度報告 CONTENTS Corporate Information2Chairman’s Statement5Management Discussion and Analysis8Biographical Details of Directors and Senior Management55Directors’ Report64Corporate Governance Report95Independent Auditor’s Report131Consolidated Income Statement135Consolidated Statement of Comprehensive Income136Consolidated Balance Sheet137Consolidated Statement of Changes in Equity139Consolidated Statement of Cash Flows141Notes to the Consolidated Financial Statements143Financial Summary288 CORPORATE INFORMATION公司資料 EXECUTIVE DIRECTORS 2023629 Mr. Hu Yiping(Chairman)Mr. Fei ZhongminMs. Shan Bei (resigned on 29 June 2023) NON-EXECUTIVE DIRECTOR Mr. Hu Shihao INDEPENDENT NON-EXECUTIVEDIRECTORS Chen Hengliu Dr. Wong Wing Kuen AlbertMr. Ding JiangangMr. Chen Hengliu AUDIT COMMITTEE Dr. Wong Wing Kuen Albert(Chairman)Mr. Ding JiangangMr. Hu Shihao REMUNERATION COMMITTEE Chen Hengliu Mr. Ding Jiangang(Chairman)Mr. Chen HengliuMr. Fei Zhongmin NOMINATION COMMITTEE Chen Hengliu Mr. Hu Yiping(Chairman)Mr. Ding JiangangMr. Chen Hengliu AUTHORISED REPRESENTATIVES 20236292023629 Mr. Hu Yiping (appointed on 29 June 2023)Ms. Chau Hing LingMs. Shan Bei (resigned on 29 June 2023) COMPANY SECRETARY Ms. Chau Hing Ling REGISTERED OFFICE Cricket SquareHutchins DriveP.O. Box 2681Grand Cayman, KY1-1111Cayman Islands Cricket SquareHutchins DriveP.O. Box 2681Grand Cayman, KY1-1111Cayman Islands HEADQUARTERS IN THE PRC 588 Dexin GroupNo. 588 Huanzhan East RoadJianggan DistrictHangzhouZhejiang, PRC PRINCIPAL PLACE OF BUSINESS INHONG KONG 26121202 Room 120212/F, China Resources Building26 Harbour RoadWanchaiHong Kong THE CAYMAN ISLANDS PRINCIPALSHARE REGISTRAR AND TRANSFEROFFICE Conyers Trust Company (Cayman) LimitedCricket SquareHutchins DriveP.O. Box 2681Grand Cayman, KY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket SquareHutchins DriveP.O. Box 2681Grand Cayman, KY1-1111Cayman Islands CORPORATE INFORMATION公司資料 HONG KONG BRANCH SHAREREGISTRAR 183171712-1716 Computershare Hong Kong Investor Services LimitedShops 1712-1716, 17th FloorHopewell Centre183 Queen’s Road EastWanchai, Hong Kong PRINCIPAL BANKS Industrial and Commercial Bank of ChinaBank of ChinaBank of CommunicationsChina CITIC Bank LEGAL ADVISERS As to Hong Kong law: Jun He Law Offices As to PRC law:Commerce & Finance Law Offices Conyers Dill & Pearman As to Cayman Islands law: Conyers Dill & Pearman AUDITOR 3323 Elite Partners CPA LimitedCertified Public AccountantsLevel 23, YF Life Tower33 Lockhart RoadWan Chai, Hong Kong COMPANY’S WEBSITE http://www.dothinkgroup.com http://www.dothinkgroup.com CHAIRMAN’S STATEMENT主席致辭 On behalf of Dexin China Holdings Company Limited (the “Company”),I am pleased to present the audited annual results and business reviewand future prospects of the Company and its subsidiaries (collectively,the “Group”) for the year ended 31 December 2023 (the “ReportingPeriod”). 20231231 2023 The year 2023 was a year full of challenges and opportunities forChina’s real estate market. As the population has entered an eraof negative growth and urbanization has entered a latter stage,the supply-demand relationship of China’s real estate market haschanged, and the industry as a whole has presented a complexand changeable situation. At the beginning of the year, due to theconcentrated release of backlog demand during the pandemic, theproperty market in many places across the country ushered in a waveof “modest recovery”, but the overall market fundamentals were stillweak, after a short-lived rally, the property market was frozen again.The real estate industry has experienced a difficult time, access tofinancing encountered obstacles, market transactions declined, pre-sale funds were under stringent regulation, liquidity continued totighten, and the industry entered a period of profound adjustment. In the face of severe market environment and fierce competitivepressure, the Company insists on ensuring delivery as the focus,and endeavours to warrant the smooth delivery of its projects.As we recognize well that on-time delivery is crucial to meetingthe expectations of buyers and is also one of the key elements inmaintaining people’s livelihood. Therefore, we have taken a series ofmeasures to strengthen project management and quality control toensure that our projects are delivered on time, and in agreed qualityand quantity. 2023496204100% Throughout 2023, the Group has delivered approximately 40,000 unitsin 49 batches, with a delivered area of 6.20 million sq.m., representing100% delivery as contracted. CHAIRMAN’S STATEMENT主席致辭 7 In order to achieve the goal of on-time delivery, we work withpolicymakers, financial institutions and real estate companies to jointlypromote on-time delivery. From the “ensuring on-time delivery” policyfirst mentioned in July last year to the implementation of “three arrows”to support the financing of real estate companies, and then to in