Market Performance - In 2019, the total sales area of commercial housing in China reached 1.33 billion square meters, a year-on-year increase of 0.1%[8] - The average floor price of residential land increased by nearly 20% due to a significant increase in land transactions in first- and second-tier cities[9] - The decline in revenue was mainly due to a significant drop in demand in first and second-tier cities in China, influenced by the US-China trade war and increased regulatory measures by the Chinese government[16] - The group anticipates a short-term decline in sales revenue due to the COVID-19 outbreak, with stabilization expected in the second or third quarter of 2020[38] - In 2020, the national new housing sales area is expected to decline by approximately 10%, with a larger decrease anticipated in the first quarter[49] Financial Performance - The group's total comprehensive property consulting and sales agency service revenue decreased significantly by approximately 47.7%[13] - The audited revenue for the year was approximately RMB 14.4 million, a substantial decline of about 44.9% compared to RMB 26.1 million in the same period last year[13] - The group recorded a gross loss of approximately RMB 169,000, compared to a gross profit of approximately RMB 4.6 million in the previous year[13] - The loss attributable to shareholders increased from RMB 7.6 million in the previous year to RMB 12.4 million[13] - Basic loss per share for 2019 was approximately RMB 5.05, compared to RMB 3.08 in 2018[13] - The net loss for the year was approximately RMB 167 million, a substantial increase of about 141.9% compared to a net loss of RMB 69 million in the previous year[31] Operational Challenges - The overall financing cost for real estate companies has increased due to stringent financial regulations[11] - The number of projects launched by property developers decreased due to the impact of the trade war and government restrictions, leading to a significant reduction in demand for the group's services[32] - The company continues to evaluate the impact of the pandemic on its operations and financial performance while strengthening cost control measures[156] Strategic Plans - The group plans to continue expanding its project base and enhance the quantity and quality of property planning, consulting, and sales agency services[12] - The company plans to adjust its market positioning based on the development trends of the Chinese economy and government policies, while seeking suitable investment opportunities[17] - The company aims to reduce operating expenses through enhanced budget management and strict cost control measures to ensure financial stability[17] - The group aims to maintain a cautious approach to market fluctuations while seeking new business partners and opportunities in China and Southeast Asia[56] Sustainability and ESG Practices - The company emphasizes sustainable development as a key component of its long-term business growth and is committed to reducing environmental impact[77] - The report outlines the company's efforts in environmental, social, and governance (ESG) practices during the fiscal year ending December 31, 2019[78] - The company identified 27 sustainability issues impacting its operations, including labor practices, environmental protection, supply chain management, and community investment[83] - The company has not reported any violations of environmental laws and regulations during the reporting year[121] Employee Relations - The group is committed to enhancing employee satisfaction and providing a harmonious and safe working environment to retain talent[97] - Competitive salaries and various benefits, including marriage leave, maternity leave, and transportation allowances, are provided to employees[98] - Regular training programs are implemented to improve employees' knowledge, skills, and overall job satisfaction, contributing to the group's strategic goals[108] - The group adheres to local labor laws and has not violated any employment regulations during the reporting year[102] Shareholder Information - The group recorded a loss for the year ending December 31, 2019, and the board decided not to recommend any final dividend for shareholders[158] - The company's distributable reserves as of December 31, 2019, were approximately RMB 20,621,000, a decrease from RMB 21,893,000 in 2018[169] - The board aims to recommend an annual dividend with a target payout ratio of 10% to 30% of the consolidated net profit for the fiscal year[161] - The board's decision to propose any dividend is at its absolute discretion and subject to shareholder approval[161] Share Option Scheme - The company has granted stock options totaling 4,200,000 shares to Mr. Jiang and his spouse, which are included in their holdings[181] - The share option plan was adopted on June 17, 2016, and is valid for ten years, allowing selected participants to be granted options as a reward for their contributions[186] - The exercise price of the options cannot be lower than the highest of the closing price on the grant date or the average closing price over the five trading days preceding the grant date[192]

Interim Report 中期報告 2019 林倩如女士 C M Y CM MY CY CMY K Fortune Sun IR2019 Cover 6mm.pdf 1 17/9/2019 下午4:34 目錄 | 公司資料 | 2 | | --- | --- | | 簡明綜合損益表 | 4 | | 簡明綜合損益及其他全面收益表 | 5 | | 簡明綜合財務狀況表 | 6 | | 簡明綜合權益變動表 | 7 | | 簡明綜合現金流量表 | 8 | | 簡明綜合中期財務報表附註 | 9 | | 管理層討論與分析 | 22 | | 披露權益 | 32 | | 其他資料 | 41 | 公司資料 董事會 執行董事 江陳鋒先生 （主席） 張秀華女士 韓林先生 非執行董事 獨立非執行董事 鄭志鵬先生 （於二零一九年六月二十一日辭任） 林俊才先生 崔士威先生 鄒耀明先生（於二零一九年 六月二十一日獲委任） 執行委員會 江陳鋒先生 （主席） 張秀華女士 韓林先生 審核委員會 鄒耀明先生 （主席） （於二零一九年 六月二十一日獲委任） 崔士威先生 林俊才先生 薪酬委員會 崔士威先生 （主席） 林俊才先生 鄒耀明先生（於二零一 ...

Economic Performance - In 2018, China's GDP grew by 6.7%, with quarterly growth rates of 6.8%, 6.7%, and 6.5% respectively, maintaining a range of 6.5%-6.9% for 12 consecutive quarters[7]. - The company anticipates that the real estate market in China will face overall pressure in 2019, with new construction and investment growth expected to remain at a low to medium pace, with new construction growth projected between 4.6% and 6.6%[43]. Real Estate Sector Insights - The real estate sector in China saw a 30% year-on-year increase in the supply of residential land, driven by government policies to boost land availability[8]. - The company reported that leading real estate firms maintained sales growth, with major firms' land acquisition amounts accounting for nearly 30% of the total sales value of commercial housing during the same period[9]. - Investment in residential properties reached RMB 70,370 billion in 2018, reflecting a growth of 13.7%[34]. Company Operations and Projects - The company executed a total of 17 projects in 2018, with 12 related to comprehensive real estate consulting and sales agency services, and a total saleable area of approximately 546,000 square meters[13]. - The company has 16 executable projects as of December 31, 2018, indicating a focus on increasing the quantity and quality of property planning, consulting, and sales agency services[13]. - The company is actively seeking market opportunities in Cambodia, with several projects already in execution and more in the preliminary stages, expecting profitability in the coming years[12]. Financial Performance - The audited revenue for the year was approximately RMB 26,103,000, a slight decline of about 1.0% compared to RMB 26,367,000 in the same period last year[14]. - The group's total comprehensive property consulting and sales agency service revenue slightly decreased by approximately 0.4%, while revenue from real estate planning consulting dropped by 9.2%[14]. - The annual loss attributable to the company’s owners decreased from approximately RMB 16,644,000 in the previous year to about RMB 7,553,000 this year[14]. Cost Management - Overall service costs decreased by approximately 17.6%, primarily due to effective cost control in rental expenses and marketing expenditures for several major projects[14]. - The total operating and administrative expenses decreased by approximately 15.4%, mainly due to a reduction in amortization expenses related to newly issued convertible bonds[14]. Corporate Governance and Compliance - The company emphasizes the importance of compliance with local laws and regulations while enhancing corporate governance and communication with stakeholders[59]. - The company maintains a zero-tolerance policy towards corruption, bribery, and fraud, ensuring compliance with local and national anti-corruption laws[72]. - The board consists of three executive directors, one non-executive director, and three independent non-executive directors, with Jiang Chenfeng serving as the chairman[197]. Environmental, Social, and Governance (ESG) Initiatives - The report covers the group's environmental, social, and governance (ESG) performance for the fiscal year 2018, from January 1 to December 31[60]. - The group is committed to providing a comfortable and safe working environment, adhering to local occupational health and safety regulations[86]. - The company is dedicated to enhancing employee satisfaction and welfare, providing competitive salaries and various benefits, including paid leave and bonuses[79]. Employee Relations and Welfare - The company has established a welfare committee to organize employee activities, fostering cohesion and a sense of belonging among staff[79]. - Employee training programs are in place to enhance knowledge, skills, and overall job satisfaction, contributing to the group's strategic goals[88]. - The company ensures that all employees are treated equally, without discrimination based on gender, race, age, or other factors, promoting a fair and diverse workplace[79]. Shareholder Information - The board does not recommend the payment of a final dividend for the year ending December 31, 2018, due to the recorded loss and the need to maintain a stable cash flow level[17]. - The company has adopted a dividend policy targeting a payout ratio of 10% to 30% of the consolidated net profit for the fiscal year[140]. - As of December 31, 2018, the company's distributable reserves amounted to approximately RMB 21,893,000, a decrease from RMB 22,742,000 in 2017[148]. Sustainability Efforts - The company has implemented various measures to reduce operational carbon footprint and unnecessary operational costs[105]. - Total greenhouse gas emissions for the year amounted to 84.61 tons of CO2 equivalent, a decrease of 21.73% from 108.09 tons in 2017[102]. - The company engaged in community service activities, promoting social responsibility among employees[113].