Financial Performance - Revenue for 2020 reached RMB 33,734 million, an increase of RMB 16,072 million compared to 2019[8] - Gross profit for 2020 was RMB 8,249 million, up by RMB 2,794 million from the previous year[8] - Profit for the year amounted to RMB 3,459 million, representing an increase of RMB 418 million year-on-year[8] - Earnings per ordinary share for 2020 were RMB 0.94, an increase of RMB 0.05 from 2019[8] - In 2020, Greenland Hong Kong achieved a contracted sales amount of RMB 54,535 million, representing a year-on-year increase of approximately 13%[38] Assets and Liabilities - Total assets as of 2020 were RMB 164,989 million, an increase of RMB 65,719 million from 2019[17] - Total liabilities reached RMB 142,847 million, up by RMB 60,168 million compared to the previous year[17] Land Acquisition and Development - The company developed 110 projects across 37 cities in 9 provinces, focusing on the Yangtze River Delta and Pan-Pearl River Delta regions[3] - In February 2020, the company entered into a cooperation with Agile Group to develop a project with a total GFA of approximately 275,000 sq.m. in Kunming, Yunnan Province[19] - The company won land parcels in Chenggong District of Kunming City with a total GFA of approximately 216,200 sq.m. in February 2020[19] - In April 2020, the company won bids for land parcels in Fuyang District, Hangzhou City, Zhejiang Province (181,700 sq.m.) and Yancheng City, Jiangsu Province (318,000 sq.m.)[21] - In May 2020, the company secured land parcels in Yuhang District, Hangzhou City, Zhejiang Province and Jinning District, Kunming City, Yunnan Province with a total GFA of approximately 340,000 sq.m.[22] - In June 2020, the company acquired land parcels in Dayu District, Kunming City, Yunnan Province and Wujiang District, Suzhou City, Jiangsu Province totaling approximately 358,800 sq.m.[23] - In July 2020, the company acquired land parcels in Xinbei District, Changzhou City, Wujiang District, Suzhou City, and Binhu District, Wuxi City, Jiangsu Province with a total GFA of approximately 616,000 sq.m.[24] - In September 2020, the company won a bid for a land parcel in Tongxiang, Zhejiang Province with a total GFA of approximately 144,500 sq.m. for an urban complex project[24] - In December 2020, the company completed the acquisition of Guangzhou Greenland, adding a strategic land bank of approximately 8.33 million sq.m. in Guangdong Province, including the Greater Bay Area[25] - The company added approximately 12 million square meters of land bank by acquiring 54 land parcels in major cities in the Yangtze River Delta and Pan-Pearl River Delta[39] Awards and Recognition - The company won 96 industry awards and over 80 other awards in 2020, including 23 international design awards and 62 design awards from authoritative organizations in China[27] - The company was awarded the "Best Real Estate Company" in the "Fifth Golden Hong Kong Stocks Awards Ceremony" in 2020[27] Strategic Initiatives - The company aims to establish itself as a benchmark in the Hong Kong capital market for mainland China's real estate players[3] - The company entered into a comprehensive strategic cooperation with HM Capital for a business model of "Base + Fund + Operation" in October 2020[24] - The Group focused on six key areas: boosting sales, securing supply, facilitating project completion, exploring development opportunities, strengthening operations, and team building[32] - The Group launched a self-owned brand "HOHOG" and a tender and purchase management platform to enhance operational efficiency[32] - The Group is committed to digital transformation, achieving full lifecycle management and supervision, which enhances operational and decision-making efficiencies[51] - The Group aims to enhance its core competitiveness by creating new demands and improving consumers' material needs through diversified operations and sophisticated management[54] Market Outlook - Looking ahead to 2021, the real estate market is expected to develop soundly and stably, supported by the gradual availability of vaccines[52] - The Group plans to lay a solid foundation for reaching the "100 billion camp" by focusing on long-term development and strategic layout for the next five years[53] - The Group will continue to identify high-quality land projects with promising potential for development[47] Project Development and Completion - The company has a significant presence in Jiangsu Province, with multiple projects in cities like Wuxi, Suzhou, and Changzhou, indicating strong regional market engagement[178] - The company is focused on residential and commercial developments, with a mix of completed and ongoing projects, reflecting a balanced growth strategy[178] - The company is actively involved in the superstructure phase of several projects, indicating a robust pipeline for future revenue generation[179] - The company has a diverse portfolio with properties at various stages of development, ensuring a steady flow of potential income streams in the coming years[179] - The company is expanding its footprint in the hotel sector, with properties like Holiday Inn Shanghai Pudong fully completed[178] Regional Project Distribution - The company has a total of 38 projects in Guangdong, accounting for 33% of the total GFA[57] - In Jiangsu, there are 28 projects across 9 cities, representing 15% of the total GFA[57] - Guangxi has 13 projects in 4 cities, which is 17% of the total GFA[57] - The company has 9 projects in Yunnan, located in 1 city, making up 11% of the total GFA[57] - Hainan has 4 projects in 1 city, accounting for 10% of the total GFA[57] - The company operates 9 projects in Zhejiang, which is 6% of the total GFA[57] - In Anhui, there are 2 projects in 2 cities, representing 6% of the total GFA[57] - Shanghai has 6 projects in 1 city, contributing to 1% of the total GFA[57] Project Details - Greenland Seaside City has a site area of 69,172 sq.m and a GFA of 151,091 sq.m, located in the Shanghai Free Trade Zone[66] - Holiday Inn Shanghai Pudong Kangqiao features a site area of 42,750 sq.m and a GFA of 58,596 sq.m, with 400 guest rooms and additional commercial facilities[68] - Greenland Jiangnan Huafu has a site area of 214,062 sq.m and a GFA of 540,868 sq.m, situated in the core area of Wujiang District, Suzhou[70] - Greenland Loch Mansion covers a site area of 117,999 sq.m and a GFA of 213,690 sq.m, located in the Suzhou Bay District[71] - Dream City has a site area of 150,363 sq.m and a GFA of 270,700 sq.m, positioned in the Yundong Area of Wujiang Economic Development Zone[73] - Greenland Yejin Mansion has a GFA of 160,372 sq.m, located in the Canal Segment of Guangling District, Yangzhou City[75] - Greenland Ideal City features a site area of 124,819 sq.m and a GFA of 318,000 sq.m, located in the core area of Economic Development Zone in Yancheng City[77] - Greenland Ocean Masterland has a site area of 164,406 sq.m and a GFA of 311,316 sq.m, situated in the key development area of the High Tech Zone of Nantong[82] - Greenland Midtown covers a GFA of 226,386 sq.m, located in the Xinlong segment of New North District, Changzhou[84] - Greenland Lakeside Villa has a site area of 356,629 sq.m and a GFA of 335,640 sq.m, located in Xuzhou City, Jiangsu Province[88] - Greenland Emerald Park has a site area of 92,395 sq.m and a GFA of 149,398 sq.m, located 7 km from downtown Zhenjiang City[91] - Greenland Sky Tree features a GFA of 330,701 sq.m and is a mixed development project in Wuxi, situated atop Guangcheng Metro Line 1[92] - Greenland Xi Shui Dong has a site area of 249,005 sq.m and a GFA of 658,819 sq.m, making it the largest city-core development project in Wuxi[94] - Greenland Diamond Mansion covers a site area of 70,903 sq.m with a GFA of 185,760 sq.m, located within 5 minutes of Wuxi city center[95] - Wuxi Health Home has a site area of 62,098 sq.m and a GFA of 159,780 sq.m, positioned in the downtown of Liangxi district[97] - Greenland Yushan World spans a site area of 180,225 sq.m with a GFA of 380,391 sq.m, located in the Yushan Bay District[99] - Greenland Central Plaza has a site area of 277,933 sq.m and a GFA of 702,207 sq.m, situated in the main district of Tongxiang, Jiaxing City[104] - Greenland Epoch Gate features a site area of 135,663 sq.m and a GFA of 260,990 sq.m, located in Yiwu's prosperous business circle[106] - Greenland Four Seasons Impression project has a site area of 119,963 sq.m and a GFA of 230,837 sq.m, located in the core area of Pukou Eco-Tech development zone, Shengzhou, Zhejiang Province[109] - Greenland Taiping Lake Resort covers a site area of 2,283,733 sq.m with a GFA of 1,049,453 sq.m, featuring a multi-phase resort development including five-star hotels and a golf course[110] - Guangde Inter City Space project has a site area of 351,301 sq.m and a GFA of 829,200 sq.m, aimed at developing a high-speed railway complex community[112] - Haikou Greenland City spans a site area of 1,147,035 sq.m with a GFA of 1,995,840 sq.m, representing a large-scale mixed development of residential, commercial, and office spaces[113] - Greenland Central Culture Center has a site area of 685,251 sq.m and a GFA of 1,760,071 sq.m, also a large-scale mixed development project[115] - Greenland Dian Lake International Health Town covers a site area of 931,900 sq.m with a GFA of 1,610,656 sq.m, focusing on comprehensive healthcare development[117] - Greenland Southeast Asia Headquarters project has a site area of 141,280 sq.m and a GFA of 860,936 sq.m, planned as a mixed development including a super high-rise[119] - Greenland Central Plaza spans a site area of 192,684 sq.m with a GFA of 776,606 sq.m, featuring top-tier urban facilities and convenient transport infrastructure[124] - Greenland Center project has a site area of 39,099 sq.m and a GFA of 236,948 sq.m, designed as a mixed development of office and commercial spaces[126] - Greenland Xin Li Pu Yue Garden covers a site area of 86,087 sq.m with a GFA of 240,491 sq.m, aimed at residential development and revitalizing the old town[127] - Greenland City project covers a site area of 336,412 sq.m and a GFA of 665,056 sq.m, planned to develop a complex with ten categories including ecological living and international education[128] - Greenland Dongmeng International Town has a site area of 873,342 sq.m and a GFA of 1,734,007 sq.m, aimed at becoming a future city with six categories such as commercial center and international education[129] - Greenland New Metropolis occupies a site area of 94,423 sq.m with a GFA of 232,463 sq.m, located in a core residential district with significant development opportunities[131] - Greenland Jiaotou Central Park spans 73,358 sq.m in site area and 277,173 sq.m in GFA, set to be a new city landmark in Qinzhou[133] - Wuzhou Greenland Art Residence covers a site area of 76,000 sq.m and a GFA of 226,833 sq.m, planned to develop a central life area with seven categories including healthcare and education[135] - Yulin Greenland City has a site area of 437,525 sq.m and a GFA of 996,031 sq.m, intended to be developed into a future city with a mixed residential and commercial focus[137] - Greenland Forest Lake project features a site area of 792,500 sq.m and a GFA of 1,654,081 sq.m, located in the Greater Bay Area with plans for comprehensive cultural tourism[139] - Greenland Future City has a site area of 196,581 sq.m and a GFA of 555,000 sq.m, designed as a mixed development of residential, commercial, and office spaces[144] - Shunde Greenland Center covers a site area of 34,442 sq.m and a GFA of 182,929 sq.m, planned as a mixed-use development of residential, commercial, and office[146] - Greenland Garden City Family spans a site area of 117,616 sq.m and a GFA of 350,299 sq.m, aimed at a mixed development of residential and commercial[150] Project Completion Status - The company has completed multiple properties, including 100% residential and commercial developments in Shanghai and Suzhou, with all listed properties marked as completed[178] - The company holds a 100% interest in several ongoing projects, such as the Greenland Loch Mansion and Greenland Diamond Mansion, with scheduled completions in 2023 and 2021 respectively[179] - The company is currently developing properties with varying completion statuses, including superstructure work in progress for projects like Glory Mansion and Amber Villa, expected to complete in 2022 and 2023[179] - A total of 51% interest is held in Amber Villa, indicating a strategic partnership in the residential sector[179] - The company has properties under development in Wuxi and Changzhou, with completion dates ranging from 2021 to 2024, showcasing a diverse portfolio[179] - The company is actively expanding its portfolio with new projects, including the Greenland City of Elite and Guangzhou International Innovation Driving Center, both in progress[86][87] - The scheduled completion dates for several properties range from 2021 to 2025, showcasing a strategic timeline for market entry[81][83] - The company maintains a diversified interest in both residential and commercial sectors, enhancing its market positioning[82][90]

Financial Performance - Revenue for the first half of 2020 was RMB 6,400 million, an increase of 10.3% from RMB 5,802 million in 2019[10]. - Gross profit for the same period was RMB 2,091 million, slightly up from RMB 2,063 million, reflecting a growth of 1.4%[10]. - Net profit decreased to RMB 697 million, down 20.8% from RMB 880 million in 2019[10]. - Core net profit for the period was approximately RMB 646 million, reflecting a year-on-year increase of approximately 24%[28]. - Profit for the period decreased to RMB 697,486,000, down 20.7% from RMB 879,807,000 in the prior year[159]. - Profit for the period attributable to owners of the Company was RMB 650,115,000, down from RMB 705,631,000 in the previous year, representing a decline of 7.8%[162]. - Total comprehensive income for the period was RMB 698,451,000, a decrease of 20.6% compared to RMB 879,807,000 in 2019[162]. Revenue Sources - Revenue derived from property sales was approximately RMB 6,129 million, representing an increase of approximately 12% from RMB 5,457 million during the same period last year[28]. - Revenue from property management and other services was approximately RMB 189 million, while rental income was approximately RMB 48 million[77]. - Revenue from property sales and construction management services amounted to RMB 6,128,877, representing a significant portion of total revenue[190]. - Revenue from external customers for the six months ended June 30, 2020, was RMB 6,128,877, which includes various segments such as construction management and hotel services[197]. Assets and Liabilities - Total assets as of June 30, 2020, were RMB 108,575 million, an increase of 9.4% from RMB 99,270 million at the end of 2019[12]. - Total liabilities rose to RMB 91,713 million, up 10.9% from RMB 82,679 million in 2019[12]. - Total equity as of June 30, 2020, was approximately RMB 16,862 million, compared to RMB 16,591 million as of December 31, 2019[87]. - Net gearing ratio increased to approximately 38% as of June 30, 2020, compared to approximately 18% as of December 31, 2019[87]. - Total cash and cash equivalents amounted to approximately RMB 10,333 million, with total borrowings of approximately RMB 16,750 million[87]. Land Acquisition and Development - The Group acquired a total of 13 land parcels with a total GFA of approximately 2.53 million sq.m., primarily located in the Yangtze River Delta and Yunnan Province[26]. - The Group's land bank stood at approximately 22 million sq.m., strategically located in prime areas of core cities in the Yangtze River Delta and Pan-Pearl River Delta, sufficient to support development for the next 2 to 3 years[66]. - The strategic expansion of the land bank focuses on core urban areas in the Yangtze River Delta and Yunnan Province through diverse acquisition methods[55]. - In April 2020, Greenland Hong Kong won a bid for a land parcel in Fuyang District, Hangzhou City for approximately RMB 2.14 billion, with a planned GFA of approximately 181,700 sq.m.[56]. Operational Efficiency - Cost of sales increased by approximately 15% from RMB 3,739 million in the first half of 2019 to approximately RMB 4,309 million in the first half of 2020[78]. - Administrative expenses decreased to approximately RMB 317 million, representing a year-on-year decrease of approximately 13%, while selling and marketing costs decreased to approximately RMB 241 million, representing a year-on-year decrease of approximately 25%[83]. - Selling and marketing expenses decreased to RMB 240,727,000 from RMB 320,334,000, a reduction of 25%[159]. - Other income increased to RMB 20,877,000 from RMB 12,792,000, showing growth in additional revenue streams[159]. Strategic Initiatives - The company anticipates that the real estate market will benefit from the gradual recovery of China's economy and reduced financing costs for real estate companies[20]. - The Group's "Real Estate +" strategy aims to integrate healthcare, cultural tourism, and technology innovation into its business model[51]. - The establishment of a joint venture with Shanghai Jiao Tong University aims to develop an industry chain cluster in education, cultural and creative industries[51]. - The comprehensive healthcare project in Jinning District is expected to enhance the city's development and improve living standards[50]. Market Outlook - The outlook for China's economy indicates a recovery from COVID-19, with expectations for improvement in the national economy quarter by quarter in the second half of the year[69]. - The impact of COVID-19 has negatively affected the global economy and the Group's operations, prompting the Chinese government to announce financial support measures[178]. Corporate Governance - The Company complied with the corporate governance code provisions, except for A.2.1, A.4.2, A.5.1, and E.1.2 during the six-month period ended June 30, 2020[127]. - The Company had no arrangements enabling Directors to acquire benefits through share or debenture acquisition during the six months ended June 30, 2020[116]. - The company confirmed compliance with the Model Code for securities transactions by directors during the six months ended June 30, 2020[135].

Financial Performance - Revenue for 2019 reached RMB 17,662 million, an increase of RMB 2,218 million or 14.4% compared to 2018[7] - Gross profit for the year was RMB 3,041 million, up by RMB 1,060 million or 53.5% from the previous year[7] - Net profit attributable to owners of the company was RMB 2,474 million, representing an increase of RMB 738 million or 29.5% year-on-year[7] - Earnings per ordinary share increased to RMB 0.89, up by RMB 0.28 or 45.9% from the previous year[7] - In 2019, the total contracted sales of the Group amounted to approximately RMB 48,458 million, representing a year-on-year increase of approximately 28%[171] - The total revenue recorded by the Group for the year was approximately RMB 17,662 million, an increase of approximately 14% from 2018[172] - Profit for the year amounted to approximately RMB 3,041 million, representing an increase of approximately 54% from 2018[172] - Profit attributable to owners of the Company was approximately RMB 2,474 million, reflecting a year-on-year increase of approximately 43%[172] - The revenue from property sales was approximately RMB 16,995 million, representing an increase of approximately 15% compared to RMB 14,831 million in 2018[176] - The total contracted sales amounted to approximately RMB 48,458 million, an increase of approximately RMB 10,533 million or 28% year-on-year[187] Assets and Liabilities - Total assets increased to RMB 99,270 million, a rise of RMB 9,040 million or 10.0% from 2018[10] - Total liabilities rose to RMB 82,679 million, an increase of RMB 6,394 million or 8.4% compared to the previous year[10] Land Acquisitions and Development Projects - The company won a bid for a land parcel in the ASEAN Economic Development Zone in Nanning, with a total GFA of approximately 911,000 sq.m.[16] - In April 2019, the company secured land parcels in Tongxiang and Dantu District with total GFA of approximately 366,420 sq.m.[16] - Acquired a land parcel for Phase II of Greenland Dian Lake International Health Town, totaling approximately 421,456 sq.m. in May 2019[17] - In June 2019, Greenland Hong Kong Holdings won bids for several land plots in Guangde County, Anhui Province, with a planned GFA of approximately 829,200 sq.m[19] - In September 2019, Greenland Hong Kong acquired four land parcels in Changzhou, Wuxi, Qinzhou, and Nanning, totaling approximately 1.12 million sq.m[21] - In October 2019, the company acquired land parcels in Yangzhou and Wuzhou, with total GFA of approximately 169,618 sq.m and 228,500 sq.m, respectively[22] - In December 2019, Greenland won a bid for a land parcel in Nantong, Jiangsu Province, with a total GFA of approximately 290,225 sq.m[23] Awards and Recognition - Greenland Hong Kong was awarded the "2019 Operational Capability Award of Listed Real Estate Company in China" by Gelonghui[24] - The company received the "Most Valuable Real Estate Enterprise" award in Golden Hong Kong Stocks Awards 2019 by Zhitongcaijing.com[24] - Greenland's project, Greenland Dian Lake International Health Town, received multiple awards for design and quality in 2019[27] - Greenland Hong Kong Holdings Limited received multiple awards in 2019, including the Silver Award of the "9th International Space Design Award" and the "City – Industry Integration Property Project of 2019"[30] - The company was recognized as the "Benchmark Property Project of the Year for Promoting the Development of City" by Nanning Evening News[30] - Greenland City was awarded the Gold Prize of "Huading Awards 2019" in the sample room category by the China Decoration Association[31] - Yulin Greenland City received the "2-Star Certificate of Green Building Design Label (Operation)" and the Silver Award of the "10th Yuanye Awards of Real Estate Garden Solutions 2019"[31] - Greenland Mountain Time won the Champion for the "Golden Pin Design Award 2019" and the Silver Award for the "2019 A' Design Award" of Italy[33] - Greenland Forest Lake was recognized as the "Best Pre-sale Property Project of the Year" at the "14th Kinpan Awards" by Kinpan.com[33] Strategic Initiatives and Partnerships - The company established a three-year strategic cooperation agreement with Shankai Sports to innovate collaboration between the real estate and sports industries[18] - The Group focused on enhancing integrated capacity in various sectors such as cultural tourism, healthcare, and education to promote synergy effects[38][52] - The "Real Estate +" strategy was actively advanced, targeting emerging industries like healthcare and cultural tourism[37][52] - The Group's Health Town in Kunming is positioned as a benchmark for the healthcare project in the southwestern region[45][48] - The Group entered into a three-year strategic cooperation agreement with Shankai Sports to develop a new model of partnership for the real estate and sports industry[52] - The Group's education sector expansion includes the launch of the international education innovation brand and long-term rental apartments[53] Market Trends and Economic Environment - In 2019, the real estate development investment in China showed a declining trend, influenced by tightened real estate control policies and financing policies[35] - The transacted area of commercial housing across the country continued to increase at a slow pace, with steady sales growth despite the market stabilization efforts[35] - The company faced challenges in 2019 due to the global economic slowdown and intensified trade conflicts, impacting overall economic growth rates[35] - Structural divergence in economic sectors became more pronounced, complicating China's economic structural adjustment in 2019[35] - The outlook for 2020 anticipates a rebound in manufacturing investment supported by improving Sino-US relations and pro-consumption policies[55] Project Development and Completion - The company is actively pursuing mixed development projects across various cities, indicating a strategic focus on urban complex developments[134] - The company is focusing on mixed residential and commercial developments across various projects, enhancing its portfolio in key urban areas[115] - Greenland has a 100% interest in multiple residential and commercial properties, with several projects currently in various stages of construction, including the Greenland Xi Shui Dong and Greenland Sky Tree, both scheduled for completion in 2022[167] - The company is actively developing properties in Jiangsu and Zhejiang provinces, with a total of 70% to 100% interest in projects like Greenland Central Plaza and Greenland Epoch Gate, both expected to complete in 2021[168] - The company is involved in the development of a hotel project at Greenland Taiping Lake Resort, which is in the fourth phase of superstructure work and is expected to complete in 2020[168] - Greenland's property status includes multiple projects in the superstructure phase, indicating a robust pipeline of developments across various regions[167] - The company holds a 51% interest in the Zhenjiang Yangzhong Project, which is currently in the preliminary stage, reflecting strategic investment in emerging markets[167] - The company is focused on expanding its footprint in high-demand areas, with several projects in urban centers like Wuxi and Changzhou, which are expected to drive future revenue growth[167] - Greenland's commitment to completing projects on schedule is evident, with multiple properties slated for completion in 2022 and 2023, reinforcing its operational efficiency[168] Sales and Market Performance - The average selling price was approximately RMB 12,739 per sq.m.[176] - The average selling price for contracted sales was approximately RMB 14,810 per sq.m.[187] - Key areas contributing to contracted sales included Shanghai (24%), Jiangsu (20%), and Guangxi (17%)[188] Urban Development and Planning - The company entered into a cooperation framework agreement with the Government of Dantu District for urban renewal projects, enhancing its role in urban planning and development[189] - Greenland Hong Kong entered into a three-year strategic cooperation agreement with Shankai Sports to explore ecological sports tourism, with pilot projects planned at the Greenland Taiping Lake Resort[193] - The company unveiled the Greenland Kunming H1 Health Town Exhibition Hall, marking a significant step in its "universal medical and healthcare" roadmap, featuring partnerships with top-tier healthcare organizations[195]

Financial Performance - Revenue for the six months ended June 30, 2019, was RMB 5,802 million, an increase of RMB 500 million from RMB 5,302 million in 2018, representing a growth of approximately 9.4%[16] - Gross profit for the same period was RMB 2,063 million, up RMB 815 million from RMB 1,248 million in 2018, reflecting a growth of approximately 65.3%[16] - Net profit reached RMB 880 million, an increase of RMB 417 million compared to RMB 463 million in 2018, marking a growth of approximately 90%[16] - Earnings per share (basic and diluted) were RMB 0.25, up from RMB 0.11 in 2018, indicating an increase of approximately 127.3%[16] - Profit attributable to owners of the Company was approximately RMB 706 million, reflecting a significant year-on-year increase of approximately 113%[25] - Basic and diluted earnings per share attributable to owners of the Company were RMB 0.25, compared to RMB 0.11 during the same period last year[25] - The profit and total comprehensive income for the period was RMB 462,626, compared to RMB 331,821 in the previous period, representing a year-over-year increase of approximately 39.4%[165] Assets and Liabilities - Total assets as of June 30, 2019, amounted to RMB 95,006 million, an increase of RMB 4,776 million from RMB 90,230 million at the end of 2018, representing a growth of approximately 5.3%[16] - Total liabilities were RMB 80,694 million, up RMB 4,409 million from RMB 76,285 million at the end of 2018, reflecting an increase of approximately 5.8%[16] - Total equity as of June 30, 2019, was RMB 14,312 million, an increase of RMB 367 million from RMB 13,945 million at the end of 2018, indicating a growth of approximately 2.6%[16] - Current assets totaled RMB 69,176,175, up from RMB 60,909,342 at the end of 2018, indicating an increase of approximately 13.2%[160] - Total liabilities reached RMB 80,694,485, up from RMB 76,285,462, indicating a growth of 5.3%[163] - Total equity amounted to RMB 14,311,525, an increase from RMB 13,944,738 at the beginning of the year, reflecting a growth of approximately 2.6%[165] Revenue Sources - Revenue from property sales was approximately RMB 5,457 million, an increase of about 9% from RMB 4,990 million in the same period last year[26] - The hotel and related services segment generated revenue of RMB 73,673, an increase from RMB 61,755, reflecting a growth of approximately 19%[25] - Property management and other services revenue increased to RMB 236,206, up from RMB 227,092, marking a growth of approximately 4%[25] - Lease of properties revenue rose to RMB 34,516, compared to RMB 22,681, representing an increase of approximately 51%[25] Sales and Contracts - Contracted sales amounted to approximately RMB 25,605 million, with a total contracted gross floor area sold of 1,240,369 sq.m[24] - The contracted sales of the Company amounted to approximately RMB 25,605 million, an increase of approximately RMB 10,290 million or 67% compared to the same period last year[36] - The main sources of contracted sales were from key areas such as the Pan-Yangtze River Delta and Pan-Pearl River Delta, with Shanghai, Jiangsu, and Guangxi accounting for 45%, 16%, and 13% of total contracted sales respectively[37] Land Acquisition and Development - The Group strategically increased its quality land bank in cities of the Pan-Yangtze River Delta and the Belt and Road regions during the review period[44] - In March 2019, the Group won a bid for land parcels in Nanning, Guangxi Province for approximately RMB661 million, with a total GFA of approximately 911,000 sq.m.[45] - In April 2019, the Group acquired a plot in Tongxiang for approximately RMB483 million, with a total GFA of approximately 216,000 sq.m.[50] - The Group further acquired a land parcel in Dantu District, Zhenjiang City for approximately RMB561 million, with a total GFA of approximately 150,400 sq.m.[51] - In May 2019, the Group acquired a plot in Kunming for approximately RMB1,532 million, with a total GFA of approximately 418,300 sq.m.[52] Strategic Initiatives - The company aims to continue expanding its market presence and enhancing its product offerings in the upcoming periods[16] - The management is focused on strategic initiatives to improve operational efficiency and drive future growth[16] - The Group aims to achieve a sales target of RMB 100 billion while expanding its presence in high-end residential markets and diversifying into sectors like cultural tourism and healthcare[63] Employee and Governance - The Group employed a total of 3,632 employees as of June 30, 2019, an increase from 3,411 employees in the same period of 2018[104] - The company has implemented a performance-linked reward system to motivate employees, including year-end bonuses for outstanding performers[105] - The Company has complied with the corporate governance code provisions, except for specific provisions A.2.1, A.4.2, and E.1.2[129] Cash Flow and Financing - Net cash from operating activities for the six months ended June 30, 2019, was RMB 3,447,193, a significant increase from RMB 914,411 in 2018, representing a growth of approximately 276%[168] - The company reported net cash used in financing activities of RMB (1,819,334) for the first half of 2019, compared to a net cash inflow of RMB 7,831,762 in the same period of 2018[168] - Cash and cash equivalents as of June 30, 2019, amounted to RMB 7,078,536, up from RMB 2,577,216 at the end of the previous year, indicating a substantial increase[168] Accounting Policies - The Group applies the short-term lease recognition exemption for leases of office equipment with a term of 12 months or less, which do not contain a purchase option[188] - Right-of-use assets are recognized at the commencement date of the lease and measured at cost, less any accumulated depreciation and impairment losses[190] - Key changes in accounting policies are a result of the application of IFRS 16 Leases[197]

Financial Performance - Revenue for 2018 reached RMB 15,444 million, an increase of RMB 825 million or 5.6% compared to 2017's RMB 14,619 million[8]. - Gross profit for the year was RMB 4,138 million, up RMB 547 million or 15.2% from RMB 3,591 million in 2017[8]. - Profit for the year attributable to owners of the company was RMB 1,736 million, representing an increase of RMB 417 million or 31.6% from RMB 1,319 million in 2017[8]. - Earnings per ordinary share for 2018 was RMB 0.61, an increase of RMB 0.15 or 32.6% from RMB 0.46 in 2017[8]. - The Group recorded total revenue of approximately RMB 15,444 million, an increase of approximately 6% from 2017[127]. - Profit attributable to owners of the Company was approximately RMB 1,736 million, representing a year-on-year increase of approximately 32%[127]. - Basic and diluted earnings per share attributable to owners of the Company amounted to RMB 0.61, compared to RMB 0.46 per share in 2017[127]. - The Group recorded fair value gains on investment properties of approximately RMB 1,227 million in 2018, compared to a gain of approximately RMB 329 million in 2017[171]. - Income tax expenses increased to approximately RMB 1,750 million in 2018 from approximately RMB 1,420 million in 2017, mainly due to higher corporation income tax and land appreciation tax provisions[171]. Assets and Liabilities - Total assets increased to RMB 90,230 million, a rise of RMB 21,480 million or 31.2% from RMB 68,750 million in 2017[11]. - Total liabilities rose to RMB 76,285 million, an increase of RMB 19,120 million or 33.4% from RMB 57,165 million in 2017[11]. - Total equity amounted to RMB 13,945 million, up RMB 2,360 million or 20.4% from RMB 11,585 million in 2017[11]. - The net gearing ratio increased to approximately 88% as of December 31, 2018, compared to approximately 84% in 2017[174]. - Total cash and cash equivalents amounted to approximately RMB 6,277 million, with total borrowings of approximately RMB 18,503 million[174]. Land Acquisition and Development - The Group added approximately 6.38 million square meters of land bank and acquired 11 new parcels of land in 8 cities, focusing on the Pan-Yangtze River Delta and Pan-Pearl River Delta regions[30]. - In January 2018, Greenland Hong Kong won the bid for several plots of land in Dongmeng Economic Development Zone in Nanning with a total GFA of approximately 872,891 sq.m. and a plot in Yulin City with a total GFA of approximately 999,414 sq.m.[14]. - The Group strategically increased its land bank in core urban areas, acquiring approximately 872,891 sq.m. in Nanning and 999,414 sq.m. in Yulin City for residential and commercial purposes[148]. - The Group's land bank as of March 2019 was approximately 20 million sq.m., strategically located in major cities, supporting development for the next two to three years[152]. - Greenland Hong Kong acquired 11 land parcels, adding 6.38 million square meters to its land bank, focusing on the Pan-Yangtze River Delta and Pan-Pearl River Delta regions[32]. Sales and Revenue - In 2018, the annual contracted sales reached a historical high of RMB 37.925 billion, representing a year-on-year increase of approximately 26%[29]. - The contracted gross floor area (GFA) sold was approximately 3,275,175 square meters, reflecting a year-on-year increase of approximately 44%[126]. - Revenue from property sales and construction management services was approximately RMB 14,831 million, representing a year-on-year increase of approximately 5%[131]. - Total property sales amounted to RMB 14,831,329,000 in 2018[138]. - Major sources of contracted sales were from projects in Jiangsu (32%), Guangxi (24%), Yunnan (14%), and Hainan (13%) respectively[141]. Strategic Initiatives - The company aims to enhance competitiveness through the "Real Estate +" strategy, focusing on healthcare, cultural tourism, and scientific innovation[3]. - The Group aims to comprehensively deploy emerging industries such as healthcare and cultural tourism, advancing the "Real Estate +" strategy[22]. - The Group plans to implement a "Real Estate +" strategy to enhance its business model and create higher value for shareholders[45]. - The Group's integrated industries strategy involved adjusting organizational structures to create its own value[23]. - The Group aims to enhance competitiveness by optimizing investment structure and promoting the "Real Estate +" business strategy, focusing on sectors such as culture, commerce, tourism, and healthcare[159]. Market Environment - The real estate industry faced a more complicated economic environment due to the central government's emphasis on housing for living rather than speculation[21]. - The real estate market faced downward pressure, with a cyclical decline in the second half of the year, affecting sell-through rates in core cities[126]. - The proportion of aborted auctions in the real estate market reached its peak, indicating a tightening control policy[21]. - The Central Economic Work Conference emphasized the need for a long-term mechanism for healthy real estate market development, reiterating that housing is for living in, not for speculation[154]. Employee and Operational Management - As of December 31, 2018, the Group employed a total of 3,722 employees, an increase from 3,153 employees as of December 31, 2017[182]. - The Group has implemented a performance-linked reward system to incentivize employees, including year-end bonuses for outstanding performers[182]. - The Group recognizes employees as valuable assets and provides comprehensive benefits and career development opportunities[187]. - The Group maintained a healthy and safe workplace with no strikes or fatalities due to workplace accidents during the review year[187]. Corporate Social Responsibility - The company was awarded the Outstanding Enterprises for Environmental Protection for "2018 Asia-Pacific Environmental Protection Achievement Awards" by various environmental organizations[15]. - The Group closely monitors changes in government policies and regulations to assess their impact on operations[183]. - The Group emphasizes the importance of maintaining good relationships with business partners and banks to achieve long-term goals[187].