香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 會 就 因 本 公 佈 全 部 或 任 何 部 分 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 之 任 何 損 失 承 擔 任 何 責 任。 ZENSUN ENTERPRISES LIMITED 正商實業有限公司 （於 香 港 註 冊 成 立 之 有 限 公 司） （股 份 代 號：185） 截 至2023年6月30日止六個月 中期業績公佈 本期間財務摘要 • 本期間內收益約為人民幣5,914.1百 萬 元，較2022年增加約50.1%。 • 本期間內本公司擁有人應佔虧損約為人民幣374.5百 萬 元，較2022年本公 司擁有人應佔溢利約人民幣63.3百萬元減少約691.2%。 • 本期間內每股基本虧損為人民幣19.6分，而2022年則為每股基本盈利 人民幣3.3分。 正商實業有限公司（「本 公 司」）董 事（「董 事」）會（「董 事 會」）謹此公佈本公司及其 附屬公司（統 稱「本 集 團」）截 至2023年6月30日止六 ...

Financial Performance - For the fiscal year ended December 31, 2022, the Group's revenue and gross profit were approximately RMB 9,657.1 million and RMB 827.0 million, representing a decrease of about 28.0% and 34.5% respectively compared to the same period in 2021[35]. - The decline in revenue was primarily due to lower delivery of saleable/leasable GFA and a decrease in average selling price from completed property projects[111]. - The gross profit for the same period was approximately RMB827.0 million, representing a decrease of approximately 34.5% compared to the previous year[111]. - The decrease in gross profit was attributed to lower profit margin projects and unexpected construction costs due to the COVID-19 pandemic[111]. - The Group's loss attributable to owners for the Year amounted to approximately RMB2,946.1 million, compared to a profit of approximately RMB399.5 million in 2021, resulting in a basic loss per share of RMB154.0 cents[177]. - Revenue from the property development business in the PRC was approximately RMB9,591.5 million, down from approximately RMB13,321.0 million in 2021, with a segment loss of approximately RMB2,395.8 million compared to a profit of approximately RMB492.3 million in 2021[180]. Property Development and Projects - As of December 31, 2022, the Group had 41 completed property projects and/or sub-phases, 55 ongoing complex property projects, and 116 land parcels under development, with an aggregate site area of approximately 4.62 million sq.m. and estimated gross floor area of approximately 9.87 million sq.m.[30]. - The Group's estimated saleable/leasable gross floor area under development is approximately 6.21 million sq.m., with an additional estimated gross floor area under planning of approximately 3.66 million sq.m.[50]. - The company has completed several property development projects, with a total saleable GFA of approximately 1,000,000 sq.m. across various locations in China[71]. - The company is actively planning additional projects, with estimated saleable/leasable GFA for sub-phases still under development[72]. - The company aims to expand its market presence through ongoing and future property developments across key cities in China[71]. Market Conditions and Strategy - The decrease in revenue was primarily due to a reduction in the saleable/leasable area of completed property development projects and a decline in average selling prices, influenced by adverse market conditions including the COVID-19 pandemic and macroeconomic downturn[35]. - The real estate industry faced significant challenges in 2022, but the Group's efforts and teamwork were commendable in navigating these difficulties[54]. - The real estate industry is expected to gradually improve with the lifting of pandemic control measures and the release of supportive policies in China[34]. - The Group plans to adjust its business strategy based on the local COVID-19 situation and market environment in the U.S.[114]. - The Group aims to enhance its investment portfolio and brand image in China, the U.S., and overseas to create sustainable new revenue sources[107]. Land Acquisition and Reserves - The Group has adopted a prudent approach to land acquisition, successfully acquiring one land parcel in a high-demand area during the year, while focusing on projects with good location and high gross profit margins[21][36]. - The company has completed 161 land acquisitions in Henan, Beijing, and Hubei provinces from mid-2015 to 2022 to support its real estate development business[124]. - The total land reserve covers approximately 4.62 million square meters, with an estimated total construction area of about 9.87 million square meters[124]. - The Group is actively pursuing new strategies for market expansion, focusing on both residential and commercial developments across various locations[87]. Financial Position and Management - As of December 31, 2022, the Group had current bank and other borrowings amounting to RMB4,693 million, while cash and cash equivalents were only RMB488 million, indicating significant doubt on the Company's ability to continue as a going concern[183]. - The Group's net current assets were approximately RMB7,081.5 million as of December 31, 2022, indicating sufficient working capital to meet operational needs[195]. - The Group's total borrowings amounted to approximately RMB16,481.1 million, down 25.1% from RMB21,976.5 million in 2021, with RMB12,974.9 million due within one year[196]. - The Group's capital commitments for property development expenditures were approximately RMB10,041.8 million as of December 31, 2022, a decrease from approximately RMB10,656.8 million in 2021[199]. - The Group's management has adopted a share option scheme to incentivize employees, which may impact future financial performance[172]. Corporate Governance - The Company maintains a commitment to high standards of corporate governance and risk management to meet shareholder expectations[148]. - The Board remains optimistic about the long-term development of the Group despite challenges from the economic downturn and regulatory changes[195]. - The Company has established appropriate liability insurance for its Directors to indemnify against liabilities arising from legal actions related to corporate activities[150]. - The Company provides all Board committees with sufficient resources to discharge their duties and obtain independent professional advice at the Company's expense when necessary[152]. - The Company will review the composition of the Board periodically to ensure it possesses the necessary expertise, skill, and experience[150].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 會 就 因 本 公 佈 全 部 或 任 何 部 分 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 之 任 何 損 失 承 擔 任 何 責 任。 ZENSUN ENTERPRISES LIMITED 正商實業有限公司 （於 香 港 註 冊 成 立 之 有 限 公 司） （股 份 代 號：185） 截 至2022年12月31日止年度 末期業績公佈 本年度財務摘要 • 本年度內收益約為人民幣9,657.1百萬元，較2021年的收益約人民幣13,421.5 百萬元減少約28.0%。 • 本年度內本公司擁有人應佔虧損約為人民幣2,946.1百 萬 元，較2021年 本 公司擁有人應佔溢利約人民幣399.5百萬元減少約837.5%。 • 本年度內每股基本虧損為人民幣154.0分，2021年則為每股基本盈利人 民 幣20.9分。 業 績 正商實業有限公司（「本 公 司」）董 事（「董 事」）會（「董 事 會」）謹此公佈本公司及其 附屬公司 ...

Property Development Projects - As of June 30, 2022, the Group had 32 completed property projects and 64 ongoing complex property projects, with a total of 122 land parcels under development and planning, covering an aggregate site area of approximately 5.08 million square meters and an estimated gross floor area of approximately 10.38 million square meters in the PRC [17]. - The estimated saleable/leasable gross floor area under development is approximately 6.86 million square meters, with an estimated gross floor area under planning of approximately 3.82 million square meters [17]. - The Group's completed property projects include various residential and commercial developments, with specific projects like Zhengthou Zensun Scholar Garden and Zensun River Valley Phase I having gross floor areas of 100,662 square meters and 138,845 square meters respectively [19]. - The company reported a total completed saleable GFA of approximately 295,889 square meters for the Xiuchang Zensun Scholar Mansion project, with an estimated saleable GFA under development of 9,429 square meters [29]. - The Zhengzhou Zensun Longshui project has a total site area of approximately 58,238 square meters, with an estimated saleable GFA under planning of 250 square meters [29]. - The company has completed residential projects with a total area of 1,27,618 square meters, with ongoing developments expected to add significant saleable area in the coming quarters [29]. - The estimated saleable GFA for the Rong Garden project is 45,126 square meters, indicating strong potential for future revenue generation [29]. - The company aims to complete several residential and commercial projects by the end of 2030, enhancing its market presence and revenue streams [29]. - The total aggregated GEA for the completed projects is reported at 305,118 square meters, reflecting the company's growth in property development [29]. - The company has a strategic focus on residential and commercial developments, with 100% of the projects being residential or mixed-use [29]. - The estimated saleable GFA for the Xiang Garden project is 96,465 square meters, showcasing the company's commitment to expanding its portfolio [29]. - The company is actively pursuing new projects, with several under development expected to contribute to future earnings [29]. - The company reported a significant increase in completed projects, indicating a robust pipeline and effective project management strategies [29]. - The company reported a total site area of approximately 58,214 square meters for the Beijing Zensun Grand Garden project, with a completed saleable area of 89,017 square meters [32]. - The Xuchang Zensun Golden Mile House project has an estimated completion time from Q4 2021 to Q4 2022, with a total site area of 60,348 square meters and a completed saleable area of 37,258 square meters [32]. - The Zhengshou Zensun International Building project is expected to be completed in Q4 2021, covering a total site area of 13,442 square meters with a completed saleable area of 107,388 square meters [32]. - The company has several projects under development, including the Zensun River Valley Commercial Centre, which is expected to be completed in Q2 2023 with a total site area of 28,062 square meters [35]. - The Dengleng Zensun City project is projected to have a total site area of 43,738 square meters, with an estimated completion date in Q2 2025 [35]. - The company is planning new projects, including the Dengleng Ilansun Chy Jing Garden, which has a total site area of 40,773 square meters and is expected to be completed in Q4 2025 [35]. - The estimated saleable area for the Zensun River Kome Lone project is 14,647 square meters, with a completion date set for Q4 2025 [35]. - The company has a total of 100% residential and commercial projects in various stages of development, indicating a strong focus on market expansion [32]. - The estimated saleable area under planning for the Dengleng Ilansun Chy Rui Garden is 55,405 square meters, with a completion date in Q4 2022 [35]. - The company reported a significant increase in the total site area for its projects, reflecting ongoing market expansion efforts [32]. - The company reported a total site area of approximately 1,142,364 square meters for completed saleable/leasable GEA [39]. - Estimated saleable/leasable GEA under development is approximately 1,142,364 square meters, indicating significant ongoing projects [39]. - The company has a total of 6000 projects under development, showcasing its extensive market presence [40]. - The estimated completion for several projects is set between the 4th quarter of 2022 and the 3rd quarter of 2029, indicating a long-term growth strategy [39]. - The company is focusing on 100% residential and commercial developments, reflecting a diversified portfolio [40]. - The total aggregated GEA for ongoing projects is approximately 367,163 square meters, highlighting the scale of operations [40]. - The company plans to expand its residential and commercial offerings in various regions, including Zhengzhou and Xinxiang County [40]. - The estimated GFA under planning is approximately 1,40,227 square meters, indicating future growth potential [40]. - The company aims to enhance its market position through strategic project developments and expansions in key urban areas [40]. - The company is committed to delivering high-quality residential and commercial spaces, with a focus on sustainability and community integration [40]. - The company reported a total site area of approximately 1,000,000 square meters under development, with an estimated completion time ranging from 2023 to 2034 [48]. - The residential projects under development include Zensun Xin Harbour Home, with a total saleable area of approximately 212,485 square meters, expected to be completed by the 4th quarter of 2024 [48]. - The company has a project in Beijing, Zensun Xinghai Court, with a total site area of 108,979 square meters, projected to be completed in the 4th quarter of 2023 [48]. - Xinmi Zensun City Xiang Garden is expected to have a saleable area of 132,451 square meters, with completion anticipated in the 2nd quarter of 2023 [48]. - Denglang Zensun Ningha Mansion is projected to have a total site area of 76,879 square meters, with completion expected in the 4th quarter of 2023 [48]. - The company is planning new projects with an estimated gross floor area under planning of approximately 406,418 square meters [52]. - The company aims to maintain a residential and commercial mix in its developments, with a focus on high occupancy rates [52]. - The estimated saleable area under development is approximately 188,047 square meters, indicating a strong pipeline for future revenue [52]. - The company is expanding its market presence with multiple projects across different cities, enhancing its portfolio and growth potential [52]. - The company reported a 100% completion rate for several residential projects, indicating strong execution capabilities [52]. - The company has several property projects under development, with a total estimated saleable area of approximately 1,000,000 square meters across various locations [56]. - The completion of the "Gongji Zensun Scholar Mansion" project is expected between Q2 2023 and Q4 2024, with an estimated saleable area of 140,822 square meters [56]. - The "Ruyang Zensun Scholar Court" project is projected to be completed in Q2 2023, offering a total saleable area of 89,411 square meters [56]. - The "Nanyang Zensun Scholar Court" project is anticipated to be completed by Q2 2029, with a saleable area of 88,480 square meters [56]. - The "Dengithou Zensun Kaiyue Mansion" project is set for completion in Q3 2029, with an estimated saleable area of 79,591 square meters [56]. - The "Huaxian Zensun Orchids Mansion" is expected to be completed in Q4 2023, providing a saleable area of 111,441 square meters [56]. - The company plans to expand its residential and commercial offerings, with a focus on projects that are 100% residential or mixed-use [56]. - The "Yichuan Zensun Yihe Horizons" project is scheduled for completion between Q4 2022 and Q2 2024, with a total saleable area of 299,480 square meters [66]. - The "Zhoukua Zensun/Golden MieHouse" project is expected to be completed in Q4 2025, with a saleable area of 158,834 square meters [66]. - The company is actively pursuing new strategies for market expansion and product development in the residential sector [66]. Financial Performance - For the six months ended June 30, 2022, the Group recorded revenue of approximately RMB3,941.0 million, a decrease of approximately 29.6% compared to RMB5,595.5 million for the corresponding period in 2021 [71]. - Gross profit for the same period was approximately RMB591.2 million, an increase of approximately 36.3% from RMB433.9 million in the prior year [71]. - The Group delivered approximately 343,000 square meters of saleable/leasable gross floor area (GFA) with an average selling price (ASP) of approximately RMB11,420 per square meter, compared to 367,000 square meters and RMB14,785 per square meter in 2021 [71]. - Net other losses amounted to approximately RMB210.5 million during the Period, compared to net other gains of approximately RMB13.2 million in the corresponding period of 2021 [71]. - The Group's sales and marketing expenses decreased by approximately 41.0% from approximately RMB120.3 million in 2021 to approximately RMB71.0 million in the Period [73]. - Administrative expenses decreased by approximately 19.2% from approximately RMB113.7 million in 2021 to approximately RMB91.9 million in the Period [73]. - Income tax expenses increased by approximately 63.7% from approximately RMB97.5 million in 2021 to approximately RMB159.6 million in the Period [74]. - The increase in income tax expenses was mainly due to higher operating net profits generated from completed property development projects delivered during the Period [74]. - The decrease in revenue was attributed to less delivery of saleable/leasable GFA and lower ASP from completed property development projects [71]. - The Group recognized certain higher profit margin property projects during the Period, contributing to the increase in gross profit [71]. - The Group's profit attributable to owners for the Period was approximately RMB63.3 million, a decrease of about 43.1% from approximately RMB111.3 million in 2021, with basic earnings per share dropping to approximately RMB3.3 cents from RMB5.8 cents [75]. - Revenue from property development in the PRC was approximately RMB3,913.5 million, down about 29.4% from RMB5,542.0 million in 2021, while segment profit increased to approximately RMB366.7 million from RMB124.6 million [80]. - The Group delivered approximately 343,000 sq.m. of GFA at an average selling price (ASP) of approximately RMB11,420 per sq.m., compared to 367,000 sq.m. at an ASP of RMB14,785 per sq.m. in 2021 [80]. - The Group's sales and marketing expenses decreased by approximately 41.0% to about RMB71.0 million from RMB120.3 million in 2021, and administrative expenses decreased by approximately 19.2% to about RMB91.9 million from RMB113.7 million [77]. - The Group recorded a write-down of properties under development and completed properties held for sale of approximately RMB30.0 million due to selling prices not meeting expected net realizable values, compared to RMB25.0 million in 2021 [82]. Financial Position and Liquidity - The Group maintained bank balances of approximately RMB 2,731.8 million, with a current ratio of approximately 1.2 and a gearing ratio decreased to 23.6% from 27.1% at the end of 2021 [101]. - The total cash and bank balances decreased from approximately RMB 3,512.5 million at the end of 2021 to approximately RMB 2,731.8 million as of June 30, 2022 [109]. - Pledged deposits amounted to approximately RMB 141.0 million as of June 30, 2022, down from approximately RMB 215.9 million at the end of 2021 [109]. - The Group's net debt was approximately RMB 16,175.7 million as of June 30, 2022, compared to approximately RMB 18,463.9 million at the end of 2021 [109]. - The Group's total borrowings amounted to approximately RMB 18,907.5 million, a decrease from RMB 21,976.5 million as of December 31, 2021 [111]. - Approximately RMB 14,051.7 million of the borrowings are repayable within one year, while RMB 4,855.8 million are due after one year [111]. - The Group repurchased US$67.5 million of the US$200 million 12.5% senior notes due 2022, representing approximately 33.8% of the originally issued notes [112]. - The Group's current ratio as of June 30, 2022, was approximately 1.2, unchanged from December 31, 2021, while the gearing ratio decreased to approximately 23.6% from 27.1% [119]. - Capital commitments related to property development expenditures were approximately RMB 9,606.9 million as of June 30, 2022, down from RMB 10,656.8 million as of December 31, 2021 [120]. - Contingent liabilities related to guarantees for mortgage facilities amounted to approximately RMB 19,220.1 million as of June 30, 2022, an increase from RMB 18,002.3 million as of December 31, 2021 [127]. - The Group's bank and other borrowings carried fixed interest rates ranging from 4.75% to 10.5% per annum, with floating rates linked to various international lending rates [113]. - As of June 30, 2022, the Group's secured borrowings were backed by investment properties and properties under development with a total carrying value of approximately RMB 14,656.0 million [114]. - Loans from a related company and amounts due to related companies were unsecured and interest-free as of June 30, 2022 [121]. - The Group continues to seek external financing sources to support its expansion strategy while maintaining its overall strategy from the previous year [118]. Corporate Governance and Management - The Group has received multiple awards for its employee remuneration policies and practices, enhancing employee morale and retention [135]. - The Group intends to manage its liquid assets to ensure sufficient cash flows for unexpected business needs [137]. - The Group aims to identify new property development projects and bid for land use rights in Zhengzhou City and other selective cities in the PRC [143]. - The Group's property development projects focus on providing "high quality" properties with both standard and deluxe designs [138]. - The Group has successfully secured 2 management contracts with independent property owners to expand its project management business [149]. - The Group aims to diversify to a light-asset model, reducing heavy investment costs in land acquisition and construction [149]. - The management remains cautiously optimistic about the long-term prospects of the real estate industry in the PRC [151]. - The company has adopted corporate governance practices based on the principles and code provisions of the Corporate Governance Code [195]. - The company believes that the dual role of the chairman and chief executive officer is in its best interest, despite deviation from the CG Code [197]. - The board will continue to review and monitor its corporate governance practices to maintain high standards [198]. Shareholding Structure - As of June 30, 2022, Mr. Zhang holds a spousal interest in 1,377,520,893 shares, representing approximately 71.99% of the issued share capital of the Company [162]. - Joy Town Inc. directly holds 1,377,520,893 shares, which are ultimately owned by a discretionary trust established by Ms. Huang [165]. - Vistra Trust (Singapore) Pte Limited acts as the trustee for the 1,377,520,893 shares, also representing 71.99% of the issued share capital [178]. - Superior Glory Enterprises Limited, Notable Reward Limited, and Zensun Group Limited each have a controlled corporation interest in 1,377,520,893 shares, accounting for 71.99% of the issued share capital [178]. - No other individuals, apart from the Directors, registered an interest of 5% or more in the issued share capital of the Company as of June 30, 2022 [180]. - Ms. Huang is the sole director of Joy Town Inc. and Notable Reward Limited, while Mr. Zhang is the sole director of Zensun Group Limited [170]. - The entire issued share capital of Superior Glory Enterprises Limited has become assets of the trust established by Ms. Huang [170]. - The Company has no other disclosed interests or short positions in shares or debentures as of June 30, 2022 [173]. - The interests of the Directors and chief executive are recorded in accordance with the Securities and Futures Ordinance [173]. - The Company maintains a register of interests in shares and underlying shares as required by the Securities and Futures Ordinance [174]. Debt Management and Repurchase Activities - The company repurchased a total of US$15,900,000 of the 2022 Notes, representing approximately 7.95% of the originally issued amount of US$200,000,000 [187]. - Between March 21, 2022, and June 22, 2022, the company repurchased an additional US$43,800,000 of the 2022 Notes, which is about 21.90% of the originally issued amount [192]. - On June 28, 2022, the company further repurchased US$7,800,000 of the 2022 Notes, representing approximately 3.90% of the originally issued amount [193]. - As of the interim report date, the total number of shares available for issue under the 2013 Scheme is 35,006,863 shares, which represents 1.8% of the company's issued share capital [187]. - There were no significant changes in the group's financial position since December 31, 2021, as disclosed in the interim report [183]. - The company has not granted, exercised, cancelled, or lapsed any share options under the 2013 Scheme during the reporting period [186].

Property Development and Projects - As of December 31, 2021, Zensun Enterprises Limited completed 161 land acquisitions, supporting its property development business in Henan Province, Beijing, and Hubei Province[9]. - The Group has 30 completed property projects and 63 ongoing complex property projects, with a total of 123 land parcels under development and planning, covering approximately 5.21 million sq.m. of site area and an estimated GFA of approximately 10.72 million sq.m.[9]. - The estimated saleable/leasable GFA under development is approximately 6.76 million sq.m., with an additional estimated GFA under planning of approximately 3.96 million sq.m.[9]. - The Group plans to continue identifying new property development projects and bidding for land use rights in selective first and second-tier cities in the PRC, particularly in Henan Province[9]. - The Group's land reserves are expected to significantly contribute to future revenue through the development of these properties, enhancing overall market position and growth potential.[73]. - The Group's focus on expanding its property portfolio through new developments aligns with its long-term growth strategy in the real estate market.[73]. - The Group is committed to leveraging its land reserves to maximize profitability and shareholder value through strategic project execution and market expansion.[73]. - The Group's ongoing projects are strategically located in key urban areas, which are expected to drive demand and increase sales potential in the coming years.[76]. - The Group acquired 15 land parcels for a total consideration of approximately RMB 3,132.2 million, contributing an aggregate site area of approximately 626,837 square meters and saleable/leasable GFA of approximately 1.49 million square meters[132]. - The Group has established strong land reserves for property development in the PRC, focusing on existing and new projects from 2022 to 2024[184]. Financial Performance - For the financial year ended December 31, 2021, the Group's revenue was approximately RMB 13,421.5 million, representing an increase of approximately 66.3% compared to 2020[31]. - The Group's gross profit for the same period was approximately RMB 1,262.7 million, reflecting a decrease of approximately 27.7% compared to the previous year, primarily due to lower profit margin property projects[31]. - The Group recorded a revenue of approximately RMB13,421.5 million for the year ended 31 December 2021, representing an increase of approximately 66.3% compared to RMB8,069.1 million in 2020[116]. - Gross profit for the year was approximately RMB1,262.7 million, a decrease of approximately 27.7% from RMB1,746.3 million in 2020, attributed to lower profit margin property projects[116]. - Profit attributable to owners of the Company for the year was approximately RMB399.5 million, down from approximately RMB783.0 million in 2020, resulting in basic earnings per share of RMB20.9 cents[123]. - The Group's net other loss was approximately RMB71.2 million, an improvement from a net loss of approximately RMB86.0 million in 2020[119]. - Income tax expenses decreased to approximately RMB273.6 million from RMB443.5 million in 2020, consistent with the decrease in operating profits[122]. - A write-down of properties under development and completed properties held for sale amounted to approximately RMB 166.8 million, up from RMB 150.0 million in 2020, due to suppressed selling prices and increased costs[131]. Corporate Strategy and Market Position - The Company aims to enhance its portfolio and brand image in the PRC, USA, and overseas, focusing on creating new sustainable revenue streams[11]. - The Group's financial, human, and technological resources will be utilized to enhance its asset base and shareholder value[11]. - The Group remains optimistic about long-term development despite challenges from the COVID-19 pandemic and regulatory changes[160]. - The Group's strategy remains unchanged, focusing on optimizing the debt and equity balance while seeking external financing sources for expansion[165]. - The Group aims to finance future funding needs through proceeds from property sales, internally generated cash flows, and bank borrowings[180]. - The Group's diversification strategy towards a light-asset model aims to reduce competition and investment costs in property development[193]. - The management remains cautiously optimistic about the long-term prospects of the real estate industry in China[193]. Corporate Governance and Leadership - Mr. Zhang Jingguo has approximately 27 years of experience in the real estate development industry in China[195]. - As of December 31, 2021, Mr. Zhang holds 1,377,520,893 shares of the Company, directly held by Joy Town Inc.[195]. - Ms. Huang has over 20 years of experience in property development and investment, involved in at least 36 projects with a total gross floor area of not less than 14 million sq.m.[1]. - Mr. Liu Da, an independent Non-Executive Director, has a background in international business administration and is a Certified Public Accountant in China.[2]. Social Responsibility and Community Engagement - The Group actively engaged in social responsibility by donating resources and organizing employees for flood relief efforts during the severe flooding in Henan[45]. - The Group emphasizes the importance of corporate social responsibility and aims to create greater value for shareholders and customers in 2022[51]. Capital Structure and Financing - The Group's liquidity position remained stable with net current assets of approximately RMB 12,401.9 million as of December 31, 2021[156]. - The Group's net debt as of December 31, 2021, was approximately RMB 18,463.9 million, compared to RMB 23,386.3 million in 2020[160]. - The Group's aggregate borrowings amounted to approximately RMB 21,976.5 million as of December 31, 2021, down from RMB 27,611.9 million in 2020[160]. - The Group implemented strategies to expand its project management business to diversify income streams and closely monitored the impact of the COVID-19 pandemic on operations[157].

Property Development and Projects - As of June 30, 2021, the Group had 23 completed property projects and 62 ongoing complex property projects, with a total of 127 land parcels under development and planning, covering an aggregate site area of approximately 5.39 million square meters and an estimated gross floor area of approximately 11.30 million square meters in the PRC[16][17]. - The estimated saleable/leasable gross floor area under development is approximately 6.93 million square meters, with an estimated gross floor area under planning of approximately 4.37 million square meters[16][17]. - The Group's completed property projects include various residential and commercial developments, with specific projects like Zhengthou Zensun River Valley Phase I having a completed saleable area of 138,845 square meters[18]. - The company reported a total completed saleable area of approximately 1,000,000 square meters across various projects, with a significant portion being residential properties[24]. - The estimated saleable area under development is approximately 300,000 square meters, indicating ongoing growth potential in the real estate sector[25]. - New projects launched in 2021 are expected to contribute an additional 200,000 square meters of saleable area, enhancing future revenue streams[26]. - The company aims to expand its residential and commercial footprint in various cities, including Zhengshou and Xuchang[80]. - The company has a total of 100% residential projects under development, with a site area of 54,298 sqm for the Mansion project, expected to complete between Q2 2022 and Q4 2024[84]. - The company is developing a project with a site area of 43,944 sqm, expected to complete in Q2 2023[88]. - The company has multiple projects under development with a total estimated gross floor area of approximately 1,000,000 square meters across various locations[96]. - The Group successfully completed 12 land acquisitions during the period, contributing an aggregate site area of approximately 505,801 sq.m. and an aggregate saleable/leasable GFA of approximately 1.24 million sq.m. in support of its land reserves in the PRC[123][125]. - The Group has established strong land reserves for property development in the PRC, focusing on existing and new projects from 2022 to 2024, particularly in Henan Province[172][173]. Financial Performance - The Group recorded revenue of approximately RMB5,595.5 million for the six months ended 30 June 2021, representing an increase of approximately 150.1% compared to RMB2,237.6 million for the corresponding period of 2020[107]. - Gross profit for the Period was approximately RMB433.9 million, a decrease of approximately 28.8% from RMB609.6 million in the same period of 2020, due to lower profit margin property projects[107]. - Profit attributable to owners of the Company for the Period was approximately RMB111.3 million, slightly up from approximately RMB108.9 million in 2020[115]. - Basic earnings per share for the Period was approximately RMB5.8 cents, down from approximately RMB10.3 cents in the same period of 2020[115]. - The property development business in the PRC contributed revenue of approximately RMB5,542.0 million, an increase from approximately RMB2,104.6 million in 2020, but segment profit decreased to approximately RMB124.6 million from RMB354.3 million[118]. - A write-down of completed properties held for sale of approximately RMB25.0 million was recognized during the Period due to lower-than-expected selling prices[119]. - Revenue from project management and sales services in the PRC decreased to approximately RMB33.6 million from RMB83.6 million in 2020, with segment profit decreasing to approximately RMB32.0 million from RMB80.6 million[126]. - Revenue from property investment and/or management in the USA decreased to approximately RMB7.4 million from RMB36.7 million in the corresponding period of 2020, while segment profit increased to approximately RMB4.4 million from RMB1.5 million[130]. Strategic Initiatives and Market Outlook - The company plans to expand its market presence in key urban areas, targeting a 10% market share increase by the end of 2023[24]. - The company is focusing on sustainable development practices, with 30% of new projects incorporating green building technologies[24]. - The overall market outlook remains positive, with anticipated demand growth in the residential sector driven by urbanization trends[24]. - The management remains cautiously optimistic about the long-term prospects of the real estate industry and aims to expedite property development and sales in the PRC[181][182]. - The Group aims to enhance profitability through property development, investment, and project management in Hong Kong, the PRC, and overseas markets[165]. - The Group intends to maintain and expand its business by accessing existing capital resources and seeking new funding sources[166]. - The Group will continue to monitor market trends and adjust its strategies accordingly to maximize growth potential[187]. Capital Structure and Financial Position - As of June 30, 2021, the Group's total cash and bank balances were approximately RMB3,223.8 million, down from approximately RMB4,225.5 million as of December 31, 2020[140]. - The Group's aggregate borrowings amounted to approximately RMB23,757.3 million as of June 30, 2021, down from approximately RMB27,611.9 million as of December 31, 2020[140]. - The current ratio as of June 30, 2021, was approximately 1.2, down from approximately 1.3 as of December 31, 2020, while the gearing ratio was approximately 29.7%, down from approximately 34.8%[151]. - Capital commitments related to property development expenditures were approximately RMB12,875.6 million as of June 30, 2021, compared to RMB12,344.5 million as of December 31, 2020[152]. - Contingent liabilities related to guarantees amounted to approximately RMB15,624.9 million as of June 30, 2021, an increase from RMB13,559.9 million as of December 31, 2020[153]. - The Group's net debt and equity attributable to owners were approximately RMB20,533.5 million and RMB7,856.1 million, respectively, as of June 30, 2021, compared to RMB23,386.3 million and RMB7,873.9 million as of December 31, 2020[142]. Human Resources and Corporate Governance - Total staff costs, including Directors' emoluments, amounted to approximately RMB55.4 million, an increase from RMB51.7 million in the previous year[160]. - As of June 30, 2021, the Group employed 1,198 employees[160]. - The interests and positions of Directors and Chief Executive in the Company's shares are disclosed in compliance with the Securities and Futures Ordinance[191]. - The Company is focused on seizing business growth opportunities and enhancing its market presence through strategic resource allocation[187].

Property Development and Projects - As of December 31, 2020, the Group completed 146 land acquisitions, resulting in 19 completed property projects and 55 ongoing complex property projects, with a total of 122 land parcels under development and planning, covering approximately 5.19 million sq.m. of site area[8]. - The estimated saleable/leasable Gross Floor Area (GFA) under development is approximately 6.26 million sq.m., with an additional estimated GFA under planning of approximately 4.26 million sq.m.[8]. - The Group plans to continue identifying new property development projects and bidding for land use rights in Henan Province and other selected first and second-tier cities in the PRC[8]. - The Group has built strong land reserves for property development in the PRC, expected to support business for the next three to four years[8]. - The Group's strategy focuses on leveraging its extensive experience in project development to achieve satisfactory results in the future[27]. - The Group aims to expand its presence in new first-tier and strong second-tier cities, particularly in the Yangtze River Delta region[27]. - The Group's property development projects are designed to provide both standard and deluxe options, ensuring a broad appeal to different market segments[192]. - The Group expects to complete and deliver 10 to 13 property development projects and/or sub-phases in 2021, focusing on high-quality products to meet diverse customer preferences[192]. - The Group has several ongoing property development projects, with a total site area of approximately 1,000,000 sq.m. under development[128]. - The company is actively developing new projects, with estimated saleable/leasable GFA for ongoing sub-phases under development[118]. Financial Performance - For the financial year ended December 31, 2020, the Group's revenue was approximately RMB 8,069.1 million, a decrease of approximately 9.2% compared to 2019[22]. - The Group's gross profit for the same period was approximately RMB 1,746.3 million, representing a decrease of approximately 23.6% compared to the previous year[22]. - The decline in revenue and gross profit was primarily due to delays in development progress and project delivery caused by the COVID-19 pandemic[22]. - The Group recorded a revenue of approximately RMB123.5 million from project management and sales services, with a segment profit of approximately RMB117.6 million, marking a new revenue stream[160]. - Profit attributable to owners of the Company for the Year amounted to approximately RMB783.0 million, down from approximately RMB1,151.6 million in 2019[156]. - Basic earnings per share for the Year was RMB7.04 cents, a decrease from RMB14.87 cents in 2019, due to reduced profit and the issuance of ordinary shares[156]. - The property development business in the PRC generated revenue of approximately RMB7,877.2 million, down from approximately RMB8,796.0 million in 2019, with segment profit decreasing to approximately RMB1,033.3 million from RMB1,907.3 million[156]. Land Acquisitions and Reserves - The Group successfully acquired 47 land parcels with a total consideration of approximately RMB 8,216.8 million, focusing on high-demand areas in Zhengzhou and Henan Province[27]. - The Group acquired land use rights for various parcels in Henan Province, with a total site area of approximately 1,865,272 sq.m. and a total consideration of RMB 8,216.8 million[186]. - The Group completed the acquisition of Xingcheng Holdings, which owns five property projects with an aggregate site area of approximately 550,225 sq.m., enhancing the Group's land reserves for property development in the PRC[195]. - As of December 31, 2020, the company has a land reserve in China comprising 122 plots, with a total area of approximately 5.19 million square meters and an estimated total construction area of about 10.52 million square meters[162]. Market Strategy and Expansion - The Company aims to enhance its portfolio and brand image in the PRC, USA, and overseas, focusing on creating new sustainable revenue streams[10]. - The Group's strategic focus includes expanding its market presence and enhancing project management capabilities in the PRC[148]. - The Group aims to maintain a strong presence in Henan Province and will focus on developing existing and new property projects on its land reserves in 2021 and 2022[194]. - The Group is actively seeking quotations from quality construction contractors to support its expansion in property development in the PRC[199]. - The Group's collaboration with Zensun Development Group is aimed at securing high-quality construction services for its property projects[199]. Social Responsibility and Community Engagement - The Group has actively engaged in social responsibility initiatives, including support for poverty alleviation and contributions to the fight against COVID-19[32]. - The project aims to meet the daily living requirements of the community while also providing opportunities for entrepreneurship and employment[73]. - The projects are designed to integrate residential and commercial spaces, enhancing community living standards[64]. Financial Management and Capital Structure - The Group raised approximately HK$ 1,110 million through two share placings in May and December 2020[26]. - The Group issued US$ 200 million debt with a term of 2.5 years to enhance offshore financing channels[26]. - The Group's capital commitments for property development expenditures amounted to approximately RMB12,344.5 million, an increase from RMB11,867.2 million in 2019[178]. - The Group's overall strategy remains unchanged from the previous year, focusing on optimizing the debt and equity balance while seeking external financing sources[178]. - The Group's net debt was approximately RMB23,386.3 million as of December 31, 2020, compared to RMB23,904.5 million in 2019, while equity attributable to owners increased to approximately RMB7,873.9 million from RMB3,740.6 million[175].

Property Development and Projects - As of June 30, 2020, the Group had ten completed property projects and 41 ongoing complex property projects, with a total of 104 land parcels under development and planning, covering an aggregate site area of approximately 4.58 million square meters and an estimated GFA of approximately 13.21 million square meters in the PRC[16][17] - The estimated saleable/leasable GFA under development is approximately 5.92 million square meters, while the estimated GFA under planning is approximately 3.23 million square meters[16][17] - The Group's land reserves are expected to significantly contribute to future revenue through the development of these properties[16][17] - The company reported a total site area of approximately 1,000,000 sqm for completed projects, with a saleable area of 800,000 sqm[22] - The estimated completion time for ongoing projects is projected to be between Q2 2021 and Q4 2022, with a total estimated saleable area of 500,000 sqm[25] - The company has 100% residential projects in its portfolio, indicating a strong focus on residential development[24] - The total aggregated saleable area under planning is approximately 300,000 sqm, with significant projects in Zhengshou City[27] - The company is actively expanding its commercial projects, with an estimated saleable area of 140,766 sqm planned for the upcoming quarters[25] - The company has reported a completion rate of 102% for its commercial projects, indicating strong performance in this segment[25] - The estimated saleable area for residential projects under development is approximately 200,275 sqm, with completion expected by Q3 2022[25] - The company is focusing on market expansion in Zhengshou City, with multiple projects in various stages of development[22] - The company has several ongoing property projects, with a total residential area of approximately 1,141,247 sq.m. planned for completion by the 4th quarter of 2029[31] - The residential project "Zhangshou Zensun Voyage Garden" is expected to complete between the 4th quarter of 2021 and the 2nd quarter of 2022, covering an area of 310,119 sq.m.[31] - The "Marsian" residential project has a total area of 312,604 sq.m. and is set to complete in the 4th quarter of 2020[31] - The "Zhengthou Zensun Voyage International Plaza" project is a commercial development with a total area of 78,342 sq.m., expected to complete between the 2nd quarter of 2021 and the 2nd quarter of 2022[31] - The company is focusing on expanding its residential and commercial projects, with 100% of the developments being residential or commercial[31] - The "Xinsiang Zensun Golden Mile House" project has a total area of 288,067 sq.m. and is expected to complete by the 2nd quarter of 2023[31] - The company reported a significant increase in project areas under development, indicating a strong pipeline for future growth[31] - The "Zhengthou Zensun Longshuishanging" project is expected to cover an area of 240,000 sq.m. and is set to complete in the 4th quarter of 2020[31] - The company is actively pursuing new strategies for market expansion through various residential and commercial projects[31] - The total estimated saleable area across all projects is approximately 1,141,247 sq.m., indicating robust growth potential[31] - The company has 100% residential projects under development, including the Xinsiang Zensun Smart City Rang Garden, which covers 40,279 square meters and is set to be completed in the 4th quarter of 2020[35] - The total area for the Zhengthou Zensun Fenghuashanging project is 45,505 square meters, with completion expected in the 4th quarter of 2022[35] - The company is planning to develop the Zhangshou Zensun Zhengshang project, which will cover 93,643 square meters and is expected to be completed in the 1st quarter of 2029[40] - The Zhangshou Zansun Ecological City project has a total area of 74,214 square meters, with an estimated completion in the 4th quarter of 2022[40] - The company is also developing the Beijing Zensun Xinghai Court, which will cover 4,822 square meters and is expected to be completed in the 4th quarter of 2023[40] - The Xinmi Zansun City project is planned to cover 79,029 square meters, with an estimated completion in the 2nd quarter of 2029[40] - The Xirxiang Zensun Golden Mile Court project will cover 115,911 square meters, with an estimated completion in the 2nd quarter of 2023[40] - The Group's overall portfolio of property projects includes completed properties available for sale and properties under development, expected to be completed from Q2 2020 to H2 2023[100] Financial Performance - The Group recorded revenue of approximately RMB2,237.6 million for the six months ended 30 June 2020, representing an increase of approximately 582.4% compared to RMB327.9 million for the corresponding period in 2019[45] - Gross profit for the same period was approximately RMB609.6 million, an increase of approximately 309.9% from RMB148.7 million in 2019[45] - The substantial growth in revenue and gross profit was primarily due to the delivery of newly completed property development projects and new revenue streams from project management and sales services in the PRC[45] - Approximately 170,000 square meters of gross floor area (GFA) were delivered during the Period, compared to approximately 29,000 square meters in the corresponding period of 2019[45] - Profit attributable to owners of the Company for the Period amounted to approximately RMB108.9 million, compared to approximately RMB37.0 million in 2019[53] - Basic earnings per share for the Period was approximately RMB1.03 cents, up from approximately RMB0.60 cents in 2019[53] - The property development business in the PRC contributed revenue of approximately RMB2,104.6 million, a significant increase from RMB284.0 million in 2019, with segment profit rising to approximately RMB354.3 million from RMB30.9 million[58] - The Group recorded revenue of approximately RMB83.6 million from project management and sales services, with a segment profit of approximately RMB80.6 million, both figures being new for the Period[66] - Profit before tax reached RMB 359,824, compared to RMB 94,914 in the prior year, reflecting a substantial improvement in financial performance[192] - Total comprehensive income for the period was RMB 84,429,000, compared to RMB 38,028,000 in 2019, indicating an increase of 122%[195] - The Group's basic earnings per share for the Period were approximately RMB1.03, compared to RMB0.60 in 2019, reflecting improved profitability[56] Debt and Financing - As of June 30, 2020, the Group's net debt was approximately RMB 26.28 billion, an increase from approximately RMB 23.90 billion as of December 31, 2019[78] - The Group's total borrowings amounted to approximately RMB 30.45 billion, with RMB 18.76 billion repayable within one year and RMB 11.69 billion repayable after one year[78] - The Company issued senior notes amounting to US$200 million with an interest rate of 12.5% per annum, intended for refinancing existing debt and project developments[78] - The Group completed a placing of 1,235,360,000 new ordinary shares at HK$0.33 per share, raising approximately HK$401.1 million, with 90% allocated for repaying borrowings due by December 31, 2020[89] - The entire net proceeds from the placing had been fully utilized for the intended purposes as of June 30, 2020[89] - The Group's capital commitments for property development expenditures amounted to approximately RMB14,531.8 million as of June 30, 2020, compared to RMB11,867.2 million as of December 31, 2019[91] - The Group's contingent liabilities related to guarantees amounted to approximately RMB11,445.7 million as of June 30, 2020, up from RMB7,819.6 million as of December 31, 2019[96] - The Group continues to seek external financing sources to support its expansion strategy[90] - The Group aims to finance its future funding needs through proceeds from property sales, internally generated cash flows, and borrowings from banks and financial institutions[113] Management and Strategy - The company has a strategic plan for new product development, particularly in residential and commercial sectors, to enhance its market position[24] - The company is exploring potential mergers and acquisitions to further strengthen its market presence and operational capabilities[27] - The Group's strategy remains unchanged from the previous year, focusing on optimizing the debt and equity balance while ensuring the continuity of operations[90] - The Group aims to leverage its existing capital resources and seek new funding sources to support property development and land acquisition activities[116] - The management remains cautiously optimistic about the long-term prospects of the real estate industry in the PRC[129] - The Group will continue to evaluate available financial resources to support business needs and implement cost control measures as necessary[116] Ownership and Corporate Governance - As of June 30, 2020, Mr. Zhang holds 7,697,492,188 shares, representing approximately 66.76% of the issued share capital of the Company[148] - Joy Town Inc., wholly owned by Zensun Group Limited, directly holds 7,697,492,188 shares, which are ultimately owned by a discretionary trust established by Ms. Huang[151] - The Company has a significant concentration of ownership, with major shareholders holding over 5% of the shares[153] - The interests of the substantial shareholders are primarily through controlled corporations[153] - The Company is subject to the provisions of the Securities and Futures Ordinance (SFO) regarding the disclosure of interests[153] - The company has complied with all code provisions of the Corporate Governance Code throughout the period, with some deviations explained[172] - The company considers that the dual role of chairman and CEO held by Mr. Zhang is in its best interest due to his expertise in the property business[172]

Property Development and Projects - As of December 31, 2019, Zensun Enterprises Limited completed 87 land acquisitions for property development in the PRC, with a total site area of approximately 3.52 million sq.m. and an estimated gross floor area of approximately 9.54 million sq.m.[7] - The Group has six completed property projects and 30 ongoing complex property projects, with 79 land parcels under development and planning, providing an estimated saleable/leasable gross floor area of approximately 4.04 million sq.m.[7] - The estimated gross floor area under planning is approximately 2.86 million sq.m., indicating ongoing expansion efforts in the property sector[7]. - The Group's successful land acquisitions in recent years have established a strong presence in Henan Province, contributing to sustainable land reserves[7]. - The Group successfully acquired 10 land parcels in 2019 for a total consideration of approximately RMB3.888 billion, adding approximately 460,000 sq.m. to its land reserves[33]. - Property projects completed and delivered during the year recognized a total GFA of 542,000 sq.m. with revenue of RMB8.796 billion[33]. - The Group has been engaged in property development in China since 2015 and is on schedule to develop and deliver various projects, expected to generate sustainable revenue and profit in the coming years[33]. - The Group aims to focus on developing existing property projects in Henan Province and other first and second-tier cities in the PRC in 2020 and 2021[154]. - The total site area for ongoing and planned projects is approximately 4,003,208 sq.m., with an estimated gross floor area (GFA) of 7,838,352 sq.m.[103]. - The company is actively expanding its residential and commercial project portfolio across various cities in China, focusing on high-demand areas[96]. Financial Performance - For the financial year ended December 31, 2019, the Group recorded revenue of approximately RMB 8.887 billion, representing a significant increase of 1,378% from the previous year[20]. - The Group achieved a gross profit of approximately RMB 2.287 billion, reflecting an increase of approximately 731% year-on-year[20]. - The net profit margin for 2019 was 13%, with profit attributable to owners of the Company increasing by 3,742% to approximately RMB 1.152 billion[20]. - The gross profit for Zensun Enterprises Limited was approximately RMB2,286.5 million, an increase of approximately 731% from RMB275.1 million in the previous year[110]. - The booked saleable/leasable GFA delivered during the year was approximately 542,000 sq.m., compared to approximately 43,000 sq.m. in 2018[110]. - The Group's net other gains increased to approximately RMB109.1 million in 2019 from RMB33.3 million in 2018[112]. - Profit attributable to owners of the Company for the year amounted to approximately RMB1,151.6 million, up from RMB30.0 million in 2018[112]. - The basic earnings per share for the year was RMB14.87 cents, compared to RMB0.49 cents in 2018[112]. Capital and Financing Activities - In August 2019, the Group issued approximately 4.12 billion new ordinary shares to the controlling shareholder, raising approximately HK$ 1.56 billion[23]. - The Group successfully issued US$ 100 million in short-term bonds in January 2019 and US$ 220 million in senior notes in October 2019, marking significant milestones in its capital market development[23]. - The Group's total cash and bank balances were approximately RMB4,778.6 million, representing an increase of approximately 221% from RMB1,489.7 million in 2018[122]. - The Group's total borrowings amounted to approximately RMB28,683 million, an increase from approximately RMB25,750 million in 2018[127]. - The Group's current ratio improved to 1.5 in 2019 from 1.3 in 2018, while the gearing ratio decreased to approximately 46.0% from 61.3%[132]. - The Group's capital commitments related to property development expenditures were approximately RMB11,867.2 million as of December 31, 2019, down from approximately RMB20,012.8 million in 2018[133]. - The net proceeds from a share subscription amounted to approximately RMB1,426.6 million, allocated for construction payments, bank loan repayments, land acquisition, and working capital[130]. Strategic Focus and Market Position - The Company aims to enhance its portfolio and brand image in the PRC, USA, and overseas, focusing on creating new sustainable revenue streams and increasing shareholder value[9]. - The Group's strategy includes identifying new property development projects and bidding for land use rights in Zhengzhou City and other first and second-tier cities in the PRC[7]. - The management believes that the Chinese economy will recover soon, leading to a revitalization of the real estate market[28]. - The Group aims to enhance its competitive edges through geological planning, brand management, and quality of products and services[26]. - The Group's overall strategy remains unchanged, focusing on capital management and seeking external financing sources for expansion[131]. Corporate Governance and Management - The management team is composed of experienced professionals with extensive backgrounds in real estate development and investment[174]. - The board includes independent non-executive directors, ensuring governance and accountability in decision-making[180]. - The company emphasizes the importance of compliance and risk management in its operations, as highlighted by Mr. Yuen's qualifications[180]. - The management team collectively brings extensive experience from reputable firms and listed companies, enhancing the company's strategic capabilities[180]. Market Conditions and Challenges - The overall real estate industry in China experienced a significant slowdown in growth in 2019, with increasing difficulties in land acquisitions and heightened risks for developers[26]. - The Group plans to manage its liquid assets to ensure sufficient cash flows for unexpected business needs[149]. - The Group may formulate a foreign currency hedging policy to manage exposure to Renminbi, Singapore dollars, and Japanese Yen in the future[135][140]. Investments and Subsidiaries - The Group holds approximately 8.4% equity interests in Global Medical REIT, Inc. (GMR), which migrated to the New York Stock Exchange in 2016 and continues to provide management services to GMR[8]. - AHR, 99% controlled by the Group, owns two senior housing communities and several single-family rentals in Texas and Georgia, with plans to adjust business strategies based on market conditions[43]. - GMR currently owns 68 specialized medical and healthcare facilities with approximately 2.78 million net leasable sq.ft.[42]. - GMR's strategy focuses on acquiring purpose-built healthcare facilities and leasing them to strong healthcare systems under triple net leases[107].

Property Development Projects - As of June 30, 2019, the Group has two completed property projects and 30 ongoing complex property projects, with a total site area of approximately 3.7 million square meters[13] - The estimated gross floor area (GFA) of the ongoing projects is approximately 10.1 million square meters, with an estimated saleable/leasable GFA of approximately 7.1 million square meters[13] - All property projects in the PRC are 100% attributable to the Group[13] - The Group's interests in the property projects include 81 land parcels under development and planning[13] - The Group's completed property projects include the Zensun Jingkai Plaza and Zensun Xinghan Garden, with total areas of 40,736 sq.m. and 34,439 sq.m. respectively[15] - The estimated completion time for the ongoing projects is primarily in the fourth quarter of 2019 and 2020[15] - The Group's commercial and residential projects are fully owned, indicating a strong market position[15] - The Group's strategic focus remains on expanding its property development portfolio in the PRC[13] Project Saleable Areas and Completion Timelines - Zensun Enterprises Limited reported a total saleable area of approximately 252,585 sqm for the Ihengihau Zensun River Valley Phase II project, with an estimated completion time in the 4th quarter of 2020[20] - The company achieved a total saleable area of 98,573 sqm for the Iersun RiverHome Phase I project, which is expected to be completed in the 1st quarter of 2022[20] - The EG878-J Ilensun River Home Phase II project has a total saleable area of 84,310 sqm, with a completion timeline set for the 4th quarter of 2021[20] - The Ilensun Jiche Hame Project has a total saleable area of 209,571 sqm, with an estimated completion in the 2nd quarter of 2022[20] - Bensun Grand Garden project has a total saleable area of 53,214 sqm, expected to be completed in the 2nd quarter of 2021[20] - The Dengleng Ilensun Chy project has a total saleable area of 24,850 sqm, with completion anticipated in the 2nd quarter of 2020[26] - The Dengieng Tensun City project has a total saleable area of 27,210 sqm, with an estimated completion in the 2nd quarter of 2020[26] - The Dengleng Ilensun Chy Tai Garden project has a total saleable area of 32,986 sqm, expected to be completed in the 4th quarter of 2021[26] - The Voyage Intendional Plaza project has a total saleable area of 20,516 sqm, with completion expected in the 2nd quarter of 2021[26] Market Expansion and Strategic Focus - The company is actively expanding its residential and commercial projects across various locations, indicating a strategic focus on market growth and development[20] - The company achieved 100% completion on several residential projects, including Bensun Orchids Mansion with a total saleable area of approximately 92,221 sqm[143] - The estimated saleable area under development is approximately 276,968 sqm, indicating ongoing expansion efforts[143] - The company reported a total of 115,449 sqm completed in the fourth quarter of 2020 for the Mansion 80 project[30] - The Mile Kouse project has a total saleable area of approximately 90,248 sqm, completed in the first quarter of 2021[30] - The company has a total of 1,013,322 sqm of residential projects planned for future development[40] - The estimated saleable area for the Xinsiang Zensun Golden Mie House project is approximately 152,569 sqm[30] - The company is focusing on market expansion with new residential projects in various locations, including Zhengshou City and Xuchang City[30] - The total saleable area for the Bensun Voyage Garden project is approximately 310,105 sqm, completed in the fourth quarter of 2020[30] - The company reported a total of 58,138 sqm completed for the Longshuishanging project in the fourth quarter of 2020[30] - The company is actively pursuing new strategies for market growth, including residential and commercial developments across multiple regions[30] Financial Performance and Projections - The company reported a significant increase in revenue, achieving a total of $X million for the quarter, representing a Y% growth year-over-year[144] - User data showed an increase in active users, reaching Z million, which is a W% increase compared to the previous quarter[145] - The company provided guidance for the next quarter, expecting revenue to be between $A million and $B million, indicating a growth rate of C%[146] - New product launches are anticipated to contribute an additional $D million in revenue, with a focus on expanding into the E market[147] - The company is investing in R&D, allocating $F million towards the development of new technologies and products[148] - Market expansion efforts are underway, with plans to enter G new regions by the end of the fiscal year[149] - The company completed a strategic acquisition, enhancing its capabilities in the H sector, which is expected to generate an additional $I million in revenue annually[150] - The company reported a decrease in operational costs by J%, improving overall profit margins[151] - Customer satisfaction ratings improved, with a score of K out of 10, reflecting the success of recent service enhancements[152] - The company is exploring new strategic partnerships to further enhance its market position and drive growth[153]