绿景中国地产2025中期报告

Contents Corporate Information2 Management Discussion and Analysis5 Other Information 23 Condensed Consolidated Statement of Profit or Loss37 Condensed Consolidated Statement of Financial Position39 Condensed Consolidated Statement of Changes in Equity41 Condensed Consolidated Statement of Cash Flows42 Notes to the Condensed Consolidated Financial Statements43 Corporate Information Directors Executive Directors Ms. HUANG Jingshu(Chairman and Chief Executive Officer)Mr. YE XinganMr. HUANG Hao YuanMs. LI Yufei Independent Non-Executive Directors Ms. HU Gin Ing(resigned on 14 February 2025)Mr. MO Fan(resigned on 14 February 2025)Mr. CHAN Koon FatMs. JIAO Jie(appointed on 14 February 2025)Ms. WONG Ting Dan(appointed on 13 May 2025) Executive Committee Ms. HUANG Jingshu(Chairman)Mr. YE XinganMr. HUANG Hao YuanMs. LI Yufei Audit Committee Ms. HU Gin Ing(Chairman) (ceased on 14 February 2025)Mr. MO Fan(ceased on 14 February 2025)Mr. CHAN Koon Fat(Chairman)Ms. JIAO Jie(appointed on 14 February 2025)Ms. WONG Ting Dan(appointed on 13 May 2025) Nomination Committee Ms. HUANG Jingshu(Chairman)Mr. MO Fan(ceased on 14 February 2025)Mr. CHAN Koon FatMs. JIAO Jie(appointed on 14 February 2025) Remuneration Committee Ms. HU Gin Ing(Chairman) (ceased on 14 February 2025)Ms. WONG Ting Dan(Chairman) (appointed on 13 May 2025)Ms. HUANG JingshuMr. MO Fan(ceased on 14 February 2025)Ms. JIAO Jie(appointed on 14 February 2025) Authorised Representatives Ms. HUANG JingshuMs. LAM Hoi Ki Company Secretary Ms. LAM Hoi Ki Corporate Information Auditor • Deloitte Touche Tohmatsu(retired on 16 June 2025)Prism Hong Kong Limited(appointed on 16 June 2025)Registered Public Interest Entity Auditors Registered Office Windward 3Regatta Office ParkPO Box 1350Grand Cayman KY1-1108Cayman Islands Windward 3Regatta Office ParkPO Box 1350Grand Cayman KY1-1108Cayman Islands Head Office and Principal Place of Business inHong Kong Unit 2501, NEO123 Hoi Bun RoadKwun TongKowloon, Hong Kong 123NEO2501 PRC Office 55/F, Tower A, NEO Building6011 Shennan Avenue, Futian DistrictShenzhen, PRCPostal Code: 518048 6011NEOA55518048 Legal Advisers (in alphabetical order) Appleby Hunter Bailhache Appleby Hunter BailhacheDeaconsGlobal Law Office Principal Bankers (in alphabetical order) Bank of China (Hong Kong) LimitedBank of Communications Co., LtdBank of Jiangsu Co., Ltd.Bank of Shanghai Co., LimitedChina Construction Bank CorporationChina Everbright Bank Company LimitedChina Zheshang Bank Co., Ltd.CMB Wing Lung Bank LimitedHang Seng Bank LimitedHua Xia Bank Co., LimitedIndustrial and Commercial Bank of China LimitedIndustrial Bank Co., Ltd.Nanyang Commercial Bank Limited Principal Share Registrar and Transfer Office Ocorian Trust (Cayman) LimitedWindard 3Regatta Office ParkPO Box 1350Grand Cayman KY1-1108Cayman Islands Ocorian Trust (Cayman) LimitedWindard 3Regatta Office ParkPO Box 1350Grand Cayman KY1-1108Cayman Islands Corporate Information Branch Share Registrar and Transfer Office inHong Kong 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong Securities Code 952,000 Stock HKEx: 95Board Lot: 2,000 shares www.lvgem-china.com Websitewww.lvgem-china.com Management Discussion and Analysis Industry Review In the first half of 2025, the global economic recovery showed varyingmomentum, while China’s economy continued to forge ahead amid multiplechallenges. In response to the repeated fluctuations of international tariffdisputes and the downward pressure on the domestic demand, the Chinesegovernment remained steadfast in its strategic direction by launching acomprehensive macroeconomic policy package. It aimed to stabilize theoverall economic landscape with all-out efforts while focusing on developingnew productive forces. From the robust start at the beginning of the yearto the steady improvement in the second quarter, the resilience and vitalityof economic development were increasingly evident through a series ofpolicies and measures. The strategy to expand domestic demand was furtheradvanced, with the consumer market showing signs of gradual recovery.The initiatives promoting technological innovation progressed at full speed,with high-tech industries recorded growth defying the headwinds. Greentransformation advanced at a robust pace, fostering notable achievements inlow-carbon development. In parallel to the further strides of the national reformand opening-up into a new horizon, the institutional opening-up has presentedadditional benefits. According to the National Bureau of Statistics, in the firsthalf of 2025, the GDP grew by 5.3% year-on-year calculated on the basis ofprices remaining unchanged, with strengthening organic growth momentumand increasingly solid confidence in achieving high-quality development. 5.3% 55LPR3.5%52.6% Looking back at the industry in the first half of 2025, continued positive signalswere designated in the multi-pronged policies, r