中国天保集团2024年报

China Tianbao Group Development Company Limited （Incorporated in the Cayman Islands with limited liability）（於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） Stock Code: 01427 2024ANNUAL REPORT CONTENTS Page 2CORPORATE INFORMATION6MAJOR HONORS AND AWARDS8CHAIRMAN’S STATEMENT13MANAGEMENT DISCUSSION AND ANALYSIS48DIRECTORS AND SENIOR MANAGEMENT67DIRECTORS’ REPORT104CORPORATE GOVERNANCE REPORT134INDEPENDENT AUDITOR’S REPORT145CONSOLIDATED STATEMENT OF PROFIT ORLOSS146CONSOLIDATED STATEMENT OFCOMPREHENSIVE INCOME147CONSOLIDATED STATEMENT OF FINANCIALPOSITION149CONSOLIDATED STATEMENT OF CHANGESIN EQUITY151CONSOLIDATED STATEMENT OF CASHFLOWS154NOTES TO FINANCIAL STATEMENTS292BREAKDOWN OF PROPERTIES296FIVE-YEAR FINANCIAL SUMMARY298DEFINITIONS CORPORATE INFORMATION BOARD OF DIRECTORS Mr. Li Baotian(Chairman of theBoard)Ms. Shen Lifeng(Chief Executive Officer)Ms. Wang XinlingMr. Li YaruixinMs. Wang HuijieMr. Zang Lin Independent Non-executive Directors Mr. Hou LiangMr. Li QingxuMr. Li Xu AUDIT COMMITTEE Mr. Li Xu(Chairman)Mr. Hou LiangMr. Li Qingxu REMUNERATION COMMITTEE Mr. Li Qingxu(Chairman)Mr. Hou LiangMr. Li XuMs. Wang XinlingMr. Li Yaruixin NOMINATION COMMITTEE Mr. Li Baotian(Chairman)Ms. Shen LifengMr. Hou LiangMr. Li QingxuMr. Li Xu INVESTMENT DECISION COMMITTEE Mr. Li Baotian(Chairman)Ms. Shen LifengMs. Wang XinlingMr. Li YaruixinMs. Wang HuijieMr. Zang LinMr. Hou LiangMr. Li XuMs. Liu Dandan(Senior management)Mr. Li Zhengmao STRATEGIC PLANNING COMMITTEE Mr. Li Baotian(Chairman)Ms. Shen LifengMs. Wang XinlingMr. Li YaruixinMs. Wang HuijieMr. Zang LinMr. Hou LiangMr. Li Qingxu LEGAL ADVISORJia Yuan Law Office PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE Ocorian TrustCaymanLimitedWindward 3, Regatta Office ParkPO Box 1350Grand Cayman KY1-1108Cayman Islands Ocorian Trust (Cayman) LimitedWindward 3, Regatta Office ParkPO Box 1350Grand Cayman KY1-1108Cayman Islands CORPORATE INFORMATION HONG KONG SHARE REGISTRAR 183171712-1716Computershare Hong Kong Investor Services LimitedShops 1712-1716, 17th FloorHopewell Centre183 Queen’s Road EastWanchaiHong Kong REGISTERED OFFICE Ocorian TrustCaymanLimitedWindward 3, Regatta Office ParkPO Box 1350Grand Cayman KY1-1108Cayman Islands Ocorian Trust (Cayman) LimitedWindward 3, Regatta Office ParkPO Box 1350Grand Cayman KY1-1108Cayman Islands HEADQUARTERS AND PRINCIPAL PLACE OFBUSINESS IN CHINA No. 33, Guanyun East RoadZhuozhou CountyHebei ProvinceThe PRC 33 PRINCIPAL PLACE OF BUSINESS IN HONG KONG 186-1883101-3102Room 3101-3102Hong Kong Plaza186-188 Connaught Road WestHong Kong AUDITOR Ernst & YoungCertified Public AccountantsRegistered Public Interest Entity Auditor27/F, One Taikoo Place979 King’s Road, Quarry BayHong Kong COMPANY SECRETARYMr. Liu Tsz Kit AUTHORISED REPRESENTATIVESMr. Li YaruixinMr. Liu Tsz Kit PRINCIPAL BANKSChina Construction Bank Co., Ltd.,ZhuozhouWutan BranchBank of Communications (Hong Kong) Limited COMPANY’S WEBSITEwww.chinatbjt.com www.chinatbjt.com STOCK CODE1427 1427 COMMUNICATION WITH INVESTORS (852) 2792 1388(852) 2792 1488zhongguotianbao@chinatbjt.com Telephone: (852) 2792 1388Fax: (852) 2792 1488E-mail: zhongguotianbao@chinatbjt.com MAJOR HONORS AND AWARDS China Tianbao Group Development Company Limited Zhitongcaijing NumberHonors and awardsAwarding body9Special Contribution Award for Supporting theDevelopment of Construction Association in HebeiProvinceConstruction Association in Hebei Province102021-2023 Grade 3A Integrity EnterpriseHebei Municipal Industry Association2021-20233A112024 Advanced Unit in the Municipal Industry of HebeiProvinceHebei Municipal Industry Association2024125A Construction Enterprise of Hebei Province forTendering and Bidding for Construction Projects in 2023Hebei Construction Engineering Bidding and TenderingAssociation20235A132024 Grade 5A Integrity Enterprise in the UrbanLandscape Industry of Hebei ProvinceHebei Society of Landscape Architecture20245A142023-2024 Excellent Landscape Enterprise of HebeiProvinceHebei Society of Landscape Architecture2023-2024152023-2024 Top 10 Landscape Enterprisesin Hebei ProvinceHebei Society of Landscape Architecture2023-2024162024 Advanced Unit of Hebei Society of LandscapeArchitectureHebei Society of Landscape Architecture202417Four-star Customer Satisfaction in Hebei Provincefor Boyue Bay Phase I ProjectHebei Association for Quality18Leading Enterprise Award at the 40th AnniversaryCelebration of Baoding Entrepreneurs AssociationBaoding Entrepreneurs Association CHAIRMAN’S STATEMENT Dear Shareholders, On behalf of China Tianbao Group Development Company Limited, Ihereby present to the shareholders the audited 2024 annual resultsand business review for the year ended December 31, 2024 (the“Year”) and future outlook of the Company and its subsidiaries. MARKET OVERVIEW In 2024, in the face of the complicated international environmentand severe situation of weak global economic growth momentum,effective investment was steadily expanded and the inve