港龙中国地产年报2024

年 報2024 Contents 2Corporate Information5Chairman’s Statement7Management’s Discussion and Analysis34Biographical Details of Directors and Senior Management41Directors’ Report62Corporate Governance Report99Independent Auditor’s Report103Consolidated Statement of Comprehensive Income104Consolidated Statement of Financial Position106Consolidated Statement of Changes in Equity108Consolidated Statement of Cash Flows110Notes to the Consolidated Financial Statements232Financial Summary Corporate Information Executive DirectorsMr. Lui Ming(Chairman)Mr. Lui Jin LingMr. Lui Chi Chung Jimmy Non-Executive DirectorsMr. Lui Wing MauMr. Lui Wing Nam Independent Non-Executive DirectorsMr. Chan Pak HungMs. Tang Lo NarMr. Wong Tung Yuen Audit Committee Mr. Chan Pak Hung(Chairman)Mr. Lui Wing NamMs. Tang Lo NarMr. Wong Tung Yuen Remuneration CommitteeMr. Wong Tung Yuen(Chairman)Mr. Chan Pak HungMs. Tang Lo Nar Nomination Committee Mr. Lui Ming(Chairman)Mr. Chan Pak HungMs. Tang Lo NarMr. Wong Tung Yuen Authorised RepresentativesMr. Lui Jin LingMr. Chan Pui Tak Company SecretaryMr. Chan Pui Tak Registered OfficeHarneys Fiduciary (Cayman) Limited4th Floor, Harbour Place103 South Church Street, P.O. Box 10240Grand Cayman KY1-1002Cayman Islands Harneys Fiduciary (Cayman) Limited4th Floor, Harbour Place103 South Church Street, P.O. Box 10240Grand Cayman KY1-1002Cayman Islands Corporate Information (Continued) Headquarters in the PRCNo. 11 Building, PortMix South DistrictNo. 2177 Shenkun RoadMinhang DistrictShanghaiChina Principal Place of Business in Hong KongUnit 120112/F, C C Wu Building302-308 Hennessy RoadWanchaiHong Kong The Cayman Islands PrincipalShare Registrar and Transfer Office Harneys Fiduciary (Cayman) Limited4th Floor, Harbour Place103 South Church Street, P.O. Box 10240Grand Cayman KY1-1002Cayman Islands Harneys Fiduciary (Cayman) Limited4th Floor, Harbour Place103 South Church Street, P.O. Box 10240Grand Cayman KY1-1002Cayman Islands Hong Kong Branch Share Registrar Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong 1617 Principal BanksBank of China (Hong Kong)DBS Hong KongIndustrial BankBank of ChinaBank of Communications Legal AdvisersAs to Hong Kong law:CFN Lawyers As to Cayman Islands law:Harney Westwood & Riegels Corporate Information (Continued) AuditorCCTH CPA LimitedCertified Public AccountantsRegistered Public Interest Entity Auditor Listing InformationShare ListingThe Company’s ordinary shares were listed on the Main Board ofThe Stock Exchange of Hong Kong Limited (Stock Code: 6968)on 15 July 2020 2020715 Company’s Websitewww.glchina.group Stock Code06968.HK 06968.HK Chairman’s Statement CHAIRMAN’S STATEMENT Dear Shareholders, Since the beginning of the year, the real estate industry as a wholestill faced severe downward pressure. Under this background,the meeting of the Political Bureau on 30 April set the direction ofproperty market policies, proposing “to coordinate research onpolicies and measures to digest housing inventory and optimizeincremental housing”. A meeting chaired by the State Council on 17May released a “package” of new real estate policies for “stabilizingthe market and destocking”. Following the implementation of anumber of policies, the second-hand housing transactions in somecore cities have shown initial signs of improvement, but the overallnew housing market has not improved significantly, and it still takestime for the policies to take effect. 517 Faced with severe challenges of the industry, the Group has alwaysadhered to the corporate vision of “becoming a city builder for abetter life” and carried forward the corporate culture of “integrity,pragmatism, simplicity and efficiency”, setting goals for 2024,uniting in its efforts and making proactive response. Firstly, theGroup strengthened its marketing efforts and balanced quantity withprice. We formulated targeted and different marketing strategiesand methods according to market differentiation to proactivelyrespond to market changes, and enhanced inventory clearing andcash collection management, striving to achieve our sales targets.We enhanced the construction of marketing system, innovatedonline marketing methods, and at the same time carried outexternal channel cooperation to expand online and offline sources ofcustomers. Through internal training on marketing, we strengthenedmarket prediction and enhanced marketing capability. Secondly,we reduced costs and ensured financial stability by means of cost-saving and cost control. The scope of control has been expandedfrom construction work to marketing and administration, etc.,leveraging the advantages of centralized purchase to reduceprocurement costs. We proactively optimized our debt structureand financing costs to ensure the safety of cash flow. Thirdly, theGroup focused on core business and accelerated cash collectionto support cash flow. Fourthly, the Group constructed withcraftsmanship and ensured qu