嘉创地产二零二三/二零二四年年报

ANNUAL REPORT2023/24年 度 報 告 Contents Corporate Information2Key Information for Shareholders4Financial Highlights6Chairman’s Statement8Corporate Governance Report19Senior Management Profile57Report of the Directors65Environmental, Social and Governance Report91Independent Auditor’s Report133Consolidated Financial Statements143Five-Year Financial Summary240Properties Held by the Group242 Corporate Information REGISTERED OFFICE Cricket Square, Hutchins DrivePO Box 2681Grand CaymanKY1-1111Cayman Islands Cricket Square, Hutchins DrivePO Box 2681Grand CaymanKY1-1111Cayman Islands HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESS Block C, 9th FloorSoutheast Industrial Building611–619 Castle Peak RoadTsuen WanNew TerritoriesHong Kong 611–6199C www.krpd.com.hk WEBSITEwww.krpd.com.hk DIRECTORS Executive DirectorsMr. HO Man Chung(Chief Executive Officer)Mr. HO Wai Hon, BrianMs. YIU Yuet FungMr. ZHU Nianhua Non-executive DirectorMr. HO Cheuk Fai(Chairman) Independent Non-executive DirectorsMr. CHOI Wai HinMr. HO Lai HongDr. LO Yung Fong AUDIT COMMITTEE Mr. CHOI Wai Hin(Chairman)Mr. HO Lai HongDr. LO Yung Fong REMUNERATION COMMITTEE Dr. LO Yung Fong(Chairman)Mr. HO Wai Hon, BrianMr. CHOI Wai HinMr. HO Lai Hong NOMINATION COMMITTEE Mr. HO Lai Hong(Chairman)Mr. HO Wai Hon, BrianMr. CHOI Wai HinDr. LO Yung Fong COMPANY SECRETARYMr. WONG Ho Kwan AUDITOR KPMGCertified Public AccountantsPublic Interest Entity Auditor registered in accordancewith the Accounting and Financial Reporting CouncilOrdinance8th Floor Prince’s Building10 Chater RoadCentral, Hong Kong 108 186 LEGAL ADVISER Bird & Bird6/F, The Annex, Central Plaza18 Harbour Road, WanchaiHong Kong PRINCIPAL BANKERS Hang Seng Bank LimitedThe Bank of East Asia, LimitedAgricultural Bank of China LimitedDongguan Rural Commercial Bank Co., Ltd PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DrivePO Box 2681Grand CaymanKY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DrivePO Box 2681Grand CaymanKY1-1111Cayman Islands HONG KONG BRANCH SHARE REGISTRAR ANDTRANSFER OFFICE 183171712–1716 Computershare Hong Kong Investor Services LimitedRooms 1712–1716, 17th FloorHopewell Centre183 Queen’s Road EastWanchai, Hong Kong 3ANNUAL REPORT 2023/24 Key Information for Shareholders FINANCIAL CALENDAR 2024Financial year end31 March 2024 Announcement of 2023/24 results18 June 2024 (0.80)404,291,840 MARKET CAPITALISATIONAs at 31 March 2024(Closing Price: HK$0.80)HK$404,291,840 Key Information for Shareholders STOCK CODE The Stock Exchange of Hong Kong Limited(the “Stock Exchange”)Main Board2421 2421 BOARD LOT 2,000 2,000 ordinary shares of the Company (the “Share(s)”) SHAREHOLDER SERVICES Any matters relating to your shareholding, such as transferof shares, change of name or address, and loss of sharecertificatesshould be addressed in writing to the HongKong share registrar of KRP Development Holdings Limited(the “Company”): 183171712–16(852) 2862-8628(852) 2529-6087 Computershare Hong Kong Investor Services LimitedRooms 1712–16, 17th FloorHopewell Centre183 Queen’s Road EastWanchai, Hong KongTel: (852) 2862-8628Fax: (852) 2529-6087 INVESTOR RELATIONS For enquiries, please contact: 611–6199C Block C, 9th Floor, Southeast Industrial Building611–619 Castle Peak RoadTsuen Wan, New TerritoriesHong Kong (852) 2956 7580ir@krpd.com.hk Tel: (852) 2956 7580Email: ir@krpd.com.hk Financial Highlights Chairman’s Statement PRINCIPAL BUSINESS AND RESULTS For the year ended 31 March 2024, the Group principallyengaged in: Aboutique residential property developer which mainlyengagedin the development and sales of residentialproper tiesin the developing residential market s inDongguan, Huizhou and Foshan in the PRC. (1)BUSINESS REVIEW I. I.Results (a)226,877,000700,751,00068%40,069,000180,846,00078%(i)(ii) (a)Forthe year ended 31 March 2024,ther e v e n u eo f t h e G r o u p a m o u n t e d t oRMB226,877,000 (for the year ended 31 March2023: RMB700,751,000), which decreased byapproximately 68% when compared with thecorrespondingperiod last year.Profitattributable to the equity shareholders of theCompany (the “Shareholders”) amounted toRMB40,069,000 (for the year ended 31 March2023: RMB180,846,000), which decreased byapproximately 78% when compared with thecorresponding period last year. Such significantdecrease in profit was attributable to: (i) thedrop in property sales revenue due to externalfactors such as the slowdown in economicgrowthand sluggish real estate marketenvironment;and(ii)the provision forimpairment loss on inventories. The Companyalso published a profit warning in relation to itsannual results for the year ended 31 March2024 on 24 May 2024 in accordance with therules of the Stock Exchange, so as to raise theinformation transparency of the Company. 11,999,000 Inaccordance with the current marketconditionsand the Group’s consistentpruden