绿地香港2024 中期报告

Stock Code:337.HK(Incorporated in the Cayman Islands with limited liability)() INTERIM REPORT 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 DIRECTORS Executive Directors Mr. Luo Weifeng(Chairman)Mr. Wang Weixian(Honorary Chairman)Mr. Wu ZhengkuiMs. Wang XulingDr. Li WeiMr. Li Yongqiang Independent Non-Executive DirectorsMr. Fong Wo, Felix, JPMr. Kwan Kai Cheong AUDIT COMMITTEEMr. Kwan Kai Cheong(Chairman)Mr. Fong Wo, Felix, JP REMUNERATION COMMITTEE Mr. Kwan Kai Cheong(Chairman)Mr. Luo WeifengMs. Wang XulingMr. Fong Wo, Felix, JP NOMINATION COMMITTEE Mr. Luo Weifeng(Chairman)Mr. Li YongqiangMr. Fong Wo, Felix, JPMr. Kwan Kai Cheong COMPANY SECRETARYMs. Fung Wai Sum 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 TohmatsuRegistered Public Interest Entity Auditors • 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 2024, the global economy grew slowly as market demandrebounded, while China’s economy witnessed a stable start fromthe beginning of the year. The real estate industry is still in the stageof bottoming out of adjustment and transformation, and investmentin real estate development showed positive changes in the first twomonths of the year. Although there was still a decreasing trend ofsales amount, the decline has narrowed down slightly, and marketsentiment has also been stabilized and improved to a certain extent.In the first quarter of 2024, China’s GDP grew by 5.3% year-on-year, which exceeded expectations, and the national economy hasrebounded. With the central government actively promoting theimplementation of various real estate policies, regulatory policieshave continued to be relaxed and the intensity of relaxation continuesto increase. Together with the continuous implementation of demand-sidepolicies, it is expected that in future various kinds of housing transactiontaxes will be adjusted to promote home purchase and consumption, andthe market will gradually stabilize and form a new balanced situation. GDP5.3% GDP5.4% According to the GDP accounting data for the first quarter of 2024released by the National Bureau of Statistics, the absolute valueof the real estate industry decreased by 5.4% compared with thesame period last year. In the first quarter, the market experienced adecline at the start and throughout the rest of the quarter and salesof property enterprises were under pressure with a considerabledownward pressure. However, after the Spring Festival, driven by“exchanging price for volume” strategy, the customer flows at salesvenues of new projects and visits and transactions of secondary-market properties in some cities have rebounded rapidly, and thehouse purchase sentiment has been improving, as witnessed by ashort-lived resurgence in some cities. In the second quarter, thereis still room for policy relaxation. In particular, the expectation ofcomplete lifting of purchase restrictions in the core areas of first-tier cities and of restrictive policies in some second-tier cities mayfacilitate the stabilization and recovery of the market. In respect of real estate policies, the keynote of relaxed policiesremained unchanged, and the implementation of “three majorprojects” has been accelerated to increase support on the capitalside. Local real estate regulatory policies continued to be optimized,and core cities such as Beijing, Shanghai, Guangzhou, Shenzhenand Hangzhou successively relaxed purchase restrictions, furtherunleashing market potential by city-specific policies at the locallevel. In terms of transformation, the government work reportproposed to “accelerate the construction of a new mode of realestate development”, while increasing the construction and supply ofaffordable housing, and improving the relevant fundamental systemof commodity housing. Although there are some uncertainties in therecovery of the real estate market in the short term, the