FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 當代置業(中國)有限公司(於開曼群島註冊成立的有限公司) 呈交日期: 2025年8月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01107 | 說明 | 當代置業 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 8,000,000,000 | USD | | 0.01 USD | | 80,000,000 | | 增加 / 減少 (-) | | | | | | USD | | | | 本月底結存 | | | 8,000,000,000 | USD | | 0.01 USD | | 80,000,000 | ...

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告的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部 或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 MODERN LAND (CHINA) CO., LIMITED 當 代 置 業（ 中 國 ）有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1107） 有關截至2022年12月31日止年度 全年業績公告之補充公告 及 有關出售附屬公司之 過往須予公佈交易 茲提述當代置業（中國）有限公司（「本公司」，連同其附屬公司統稱「本集團」）於 2023年9月13日刊發之截至2022年12月31日止年度之全年業績公告（「2022年全年 業績公告」）。除另有界定者外，本公告所用詞彙與2022年全年業績公告所界定者 具有相同涵義。 除2022年全年業績公告所提供之資料外，董事會謹此向本公司股東及潛在投資者 提供有關出售附屬公司之若干過往須予公佈交易之進一步詳情。 有關出售附屬公司之過往須予公佈交易 ...

2023 中期報告 目 錄 公 司 資 料 公 司 簡 介 主 席 報 告 管 理 層 討 論 及 分 析 業 務 回 顧 財 務 回 顧 其 他 資 料 合 併 損 益 及 其 他 全 面 收 入 報 表 合 併 財 務 狀 況 報 表 合 併 權 益 變 動 表 簡 明 合 併 現 金 流 量 表 簡 明 合 併 財 務 報 表 附 註 2 4 6 8 1 1 1 4 1 9 2 1 2 3 2 7 2 9 2023中期報告 / 當代置業（中國）有限公司 公司資料 董事會 非執行董事 唐倫飛先生 曾強先生 獨立非執行董事 許俊浩先生 崔健先生 高志凱先生 審核委員會 許俊浩先生 （主席） 崔健先生 高志凱先生 環境、社會及管治委員會 張鵬先生 （主席） 崔健先生 許俊浩先生 高志凱先生 薪酬委員會 高志凱先生 （主席） 張雷先生 崔健先生 執行董事 張鵬先生 張雷先生 陳音先生 提名委員會 崔健先生 （主席） 張雷先生 許俊浩先生 高志凱先生 授權代表 張鵬先生 梁柏強先生 公司秘書 梁柏強先生 核數師 畢馬威會計師事務所 於《財務匯報局條例》下的註冊公眾利益實體核數師 香港中環 遮打道10號 太子大廈8 ...

目 錄 | 公司資料 | 2 | | --- | --- | | 公司簡介 | 4 | | 主席報告 | 6 | | 管理層討論及分析 | 9 | | 企業管治報告 | 18 | | 董事及高級管理層履歷 | 35 | | 董事會報告 | 38 | | 獨立核數師報告 | 55 | | 合併損益及其他全面收入報表 | 58 | | 合併財務狀況報表 | 60 | | 合併權益變動表 | 62 | | 合併現金流量表 | 65 | | 合併財務報表附註 | 68 | | 財務資料概要 | 162 | 年度報告2022 / 當代置業（中國）有限公司 公司資料 董事會 執行董事 張鵬先生（於2022年11月9日獲委任為 主席、總裁 ） 張雷先生（於2022年11月9日辭任為 主席 ） 陳音先生 非執行董事 陳志偉先生（於2022年3月24日辭任） 唐倫飛先生（於2022年3月24日獲委任） 曾強先生 范慶國先生（於2022年11月9日辭任） 獨立非執行董事 許俊浩先生 崔健先生 高志凱先生 劉加平先生（於2022年11月9日辭任） 審核委員會 許俊浩先生 （主席） 崔健先生 高志凱先生 劉加平先生（於2022年11 ...

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 告 的 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 就 因 本 公 告 全 部 或 任 何 部 分 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 MODERN LAND (CHINA) CO., LIMITED 當代置業（中國）有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1107） 截 至2023年6月30日 止 六 個 月 之 未 經 審 核 中 期 業 績 公 告 中 期 業 績 當 代 置 業（中 國）有 限 公 司（「本 公 司」或「當 代 置 業」）董 事（「董 事」）會（「董 事 會」） 謹 此 宣 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 個 月 之 未 經 審 核 合 併 中 期 業 績。 本 集 團 以 下 呈 列 的 未 經 審 核 合 併 損 益 及 其 他 全 面 收 入 報 ...

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 告 的 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 就 因 本 公 告 全 部 或 任 何 部 分 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 MODERN LAND (CHINA) CO., LIMITED 當代置業（中國）有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1107） 截 至2022年12月31日 止 年 度 之 全 年 業 績 公 告 全 年 業 績 當 代 置 業（中 國）有 限 公 司（「本 公 司」）董 事（「董 事」）會（「董 事 會」）謹 此 宣 佈 本 公 司 及 其 附 屬 公 司（統 稱「本 集 團」）截 至2022年12月31日 止 年 度 之 經 審 核 合 併 業 績 及 上 一 財 政 年 度 之 比 較 數 字 如 下： – 1 – 合 併 損 益 及 其 他 全 面 收 入 報 表 截 至2022年12月31日 ...

Green Technology and Sustainability - The company has developed over 100 high-quality green technology products, focusing on five major urban clusters in China and targeting the North American region for international expansion[13]. - The energy consumption of MOMΛ products is only one-third of that required for conventional residential buildings in China to achieve the same comfort level, significantly reducing energy costs for residents[12]. - The company emphasizes green technology as its core competitive advantage, continuously researching and applying innovative technologies in its projects[12]. - The company is committed to sustainable development, integrating green technology and energy efficiency into its building practices[12]. - The company aims to create a comfortable living environment, maintaining indoor temperatures between 20°C and 26°C and humidity levels between 30% and 70%[12]. - The company has been recognized as the second-best in "China Green Real Estate Operation Model" and ranked among the top 10 in various categories by industry associations[22][24]. - The company has developed projects that meet domestic green building standards and has received multiple awards, including the LEED-ND certification, the first residential product in the country to achieve this[17]. - The company has received two Green Building Three-Star Operation Labels and one Green Building Two-Star Design Label in 2021, with a cumulative green building certification area reaching nearly 10 million square meters[26]. - The company is focusing on innovation and exploring new growth avenues through green branding, technology research and development, and lifecycle services[25]. - The company has been actively involved in promoting green living environments and has become a leader in green community certifications, with 28 certified green communities accounting for nearly 70% of the national total[26]. Financial Performance and Challenges - The company achieved a revenue of approximately RMB 11.4 billion for the year ended December 31, 2021, with a net loss attributable to shareholders of about RMB 2 billion due to inventory impairment and other factors[24]. - Property sales revenue for the year ended December 31, 2021, was approximately RMB 10,982.0 million, a decrease of about 28.7% compared to the previous year[40]. - The gross profit margin for property sales was approximately 5.3%, down 18.2 percentage points from 2020[40]. - Contract sales amount for the year ended December 31, 2021, was approximately RMB 36,050.4 million, a decrease of about 14.6% compared to the previous year[46]. - The company has faced significant liquidity challenges in 2021, implementing comprehensive strategies including debt restructuring and asset disposal to mitigate risks[24][25]. - The company plans to reduce debt and leverage, aiming for a low-leverage, low-risk development model while actively communicating with creditors to manage existing debt[29]. - The company maintained a cash balance of approximately RMB 4 billion as of December 31, 2021, primarily held in project-level escrow accounts to ensure normal operations[24]. - The company reported a loss of approximately RMB 2,329.8 million for the year ended December 31, 2021, down from a profit of RMB 1,117.0 million for the year ended December 31, 2020, representing a decline of approximately RMB 3,446.8 million[73]. - The loss attributable to owners of the company was approximately RMB 2,054.6 million for the year ended December 31, 2021, compared to a profit of RMB 739.0 million for the year ended December 31, 2020, a decrease of about RMB 2,793.6 million[74]. Debt and Financing - The company has a significant debt issuance, including $321 million in priority notes with a 9.8% interest rate, indicating its financing strategy[9]. - The company plans to leverage macroeconomic stabilization and real estate policy implementation to mitigate debt risks and restore normal operations[34]. - The total borrowings as of December 31, 2021, were approximately RMB 24,546.4 million, a slight decrease of about 0.2% from RMB 24,593.0 million as of December 31, 2020[78]. - The net debt ratio increased significantly from approximately 95.7% as of December 31, 2020, to approximately 301.4% as of December 31, 2021[79]. - The group had contingent liabilities related to mortgage guarantees amounting to approximately RMB 19,142.7 million as of December 31, 2021, compared to RMB 15,217.8 million as of December 31, 2020[85]. - The company has engaged in constructive dialogue with creditors to stabilize liquidity issues and facilitate a debt restructuring plan[95]. - A principle agreement was reached on the terms of the proposed restructuring of existing US dollar senior notes, with over 75% of creditors supporting the plan[96]. - The restructuring became effective on December 30, 2022, with existing notes being cancelled and new notes issued[97]. Corporate Governance and Management - The company adheres to the Corporate Governance Code and has complied with relevant regulations throughout the fiscal year ending December 31, 2021[110]. - The management emphasizes the importance of investor relations and has made significant progress in enhancing communication with stakeholders throughout the year[106]. - The board consists of ten members, ensuring a balanced mix of skills and experience to support the company's business needs[112]. - The company has established a committee for environmental, social, and governance matters, although no meetings were held in 2021[124]. - The board is responsible for maintaining effective risk management and internal control systems to protect the interests of the group and its shareholders[136]. - The audit committee consists of four independent non-executive directors, ensuring sufficient accounting and financial management expertise[147]. - The company has adopted a board diversity policy since January 15, 2019, considering various diversity criteria in the selection of board members[160]. - The company is committed to maximizing shareholder value through effective governance and transparency in its operations[106]. - The board has reviewed the effectiveness of the risk management and internal control systems for the financial year ending December 31, 2021, and found them to be adequate and effective[139]. ESG Initiatives and Performance - The company established an Environmental, Social, and Governance (ESG) committee on December 1, 2021, to oversee ESG strategies and compliance[153]. - The ESG committee is responsible for reviewing the company's ESG vision, strategies, and goals, and providing recommendations to the board annually[154]. - The company prioritizes anti-corruption and emphasizes the management of green building and product quality as key ESG issues[193]. - The company aims to enhance its ESG performance by adopting international or national standards and regularly monitoring and reporting on its ESG initiatives[200]. - Stakeholder communication is prioritized, with regular reports and disclosures to investors regarding company value, profitability, and ESG performance improvements[199]. - The company is committed to improving its governance and risk management levels to meet stakeholder expectations regarding environmental and social responsibilities[199]. - The annual ESG report is reviewed and recommended for board approval, ensuring compliance with listing rules and maintaining report integrity[200]. - The company actively engages with stakeholders to address their expectations and promote social development collaboratively[198]. - The company is focused on enhancing its sustainable supply chain and community engagement as part of its social responsibility efforts[195].

Financial Performance - Total revenue for the year ended December 31, 2021, was RMB 11,449,621, a decrease of 27.1% from RMB 15,740,529 in 2020[3] - Gross profit for the year was RMB 654,118, down 82.7% from RMB 3,784,542 in the previous year[3] - The net loss for the year was RMB 2,329,756, compared to a profit of RMB 1,116,985 in 2020[3] - Real estate sales revenue dropped to RMB 10,981,955 thousand in 2021, down 28.5% from RMB 15,402,691 thousand in 2020[35] - The group’s property sales revenue for the year ended December 31, 2021, was approximately RMB 10,982.0 million, a decrease of about 28.7% compared to the year ended December 31, 2020[94] - The company reported a basic and diluted loss attributable to shareholders of RMB (2,053,723) thousand for 2021, compared to a profit of RMB 739,001 thousand in 2020[48] - The group reported a loss attributable to owners of the company of approximately RMB 2,054.6 million for the year ended December 31, 2021, compared to a profit of approximately RMB 739.0 million for the year ended December 31, 2020[121] Assets and Liabilities - Current assets totaled RMB 63,355,528, a decrease from RMB 68,145,837 in the previous year[8] - Current liabilities exceeded current assets by RMB 4,888,821,000 as of December 31, 2021[20] - Total current liabilities amounted to RMB 68,224,349,000, an increase from RMB 55,386,694,000 in the previous year[10] - The company’s total assets less current liabilities were RMB 9,374,216,000, a decrease from RMB 26,525,177,000 in the previous year[10] - The company’s total equity decreased to RMB 6,813,355,000 from RMB 10,977,667,000 in the previous year[10] - The company’s total liabilities included priority notes of RMB 8,478,681,000 and bank borrowings of RMB 13,449,587,000, indicating significant debt obligations[67] - The net debt ratio as of December 31, 2021, was 301.4%, compared to 95.7% as of December 31, 2020[125] Cash Flow and Liquidity - The company’s cash and cash equivalents were RMB 1,585,043, indicating liquidity position[8] - The group’s cash and cash equivalents as of December 31, 2021, were approximately RMB 4,012.0 million, a decrease of about 71.5% from RMB 14,092.7 million as of December 31, 2020[122] - The group is undergoing a debt restructuring plan, which includes a cash redemption of approximately $23,000,000 and the issuance of new notes to replace existing senior notes totaling $1,341,502,000 (about RMB 8,478,681,000) [25] - The group must successfully implement its business strategy and cost control measures to improve its operating capital and cash flow situation[29] - The group is focused on expediting the pre-sale and sale of properties under development and completed projects to recover outstanding sales proceeds and other receivables[30] Debt and Restructuring - The group has defaulted on the repayment of approximately $250,002,000 (about RMB 1,592,948,000) of the 2019 USD Notes III, triggering cross-default on other senior notes with a total face value of $1,091,500,000 (about RMB 6,885,733,000) [21] - The group has violated several covenants related to bank and other borrowings amounting to RMB 5,262,556,000, with a specific loan of RMB 804,000,000 requiring early repayment by December 31, 2021 [22] - The company is facing a default on priority notes with an outstanding principal amount of approximately USD 250 million (about RMB 1.59 billion) as of October 25, 2021[68] - The company is undergoing a debt restructuring plan to address liquidity issues and has implemented various strategies to mitigate risks[71] Operational Challenges - The group has set aside RMB 264,315,000 for claims and litigation, indicating significant uncertainties that may severely doubt the group's ability to continue as a going concern [24] - The company has faced significant uncertainty regarding its ability to continue as a going concern due to various factors, including the success of its debt restructuring plan[72] - The company acknowledges the severe challenges faced since 2021 and expresses gratitude to stakeholders for their support while committing to restore normal operations and healthy development[91] Future Outlook - For 2022, the company anticipates increased policy support for the real estate sector, with a recovery in market confidence and significant growth in both supply and demand[83] - The company aims to reduce debt leverage and improve its debt situation through active communication with creditors, aiming to exit liquidity crises and establish a safer development cushion[85] - The company will focus on ensuring timely delivery of projects by leveraging special funds from banks and local governments, integrating various resources to support normal project development[86] Corporate Governance - The board of directors has confirmed compliance with the standards for securities trading as of December 31, 2021[155] - The company has maintained high standards of corporate governance and has adhered to the relevant rules as of December 31, 2021[157] - The audit committee consists of three independent non-executive directors with extensive experience in various fields, and they have reviewed the consolidated annual performance for the year ending December 31, 2021[163]

Company Recognition and Philosophy - The company has been recognized as one of China's top 100 real estate enterprises for seven consecutive years[28]. - The company emphasizes its development philosophy of "green technology + comfortable energy-saving + digital interconnected full life cycle industrial home"[28]. - The company is focused on expanding its brand MOMΛ, which symbolizes modern architecture and green technology[28]. - The company aims to create a significant economic benefit for shareholders while also generating positive social impact[28]. Financial Performance - The company's contract sales amounted to approximately RMB 21.56 billion, representing a year-on-year increase of about 51.8%[39]. - The total sales area reached approximately 2.078 million square meters, with a year-on-year growth of about 52.7%[41]. - The group's property sales revenue for the review period was approximately RMB 9,316.2 million, representing an increase of about 8.6% compared to the same period in 2020[62]. - The total contracted sales amount for the group, its joint ventures, and associates reached approximately RMB 21,562.4 million, an increase of about 51.8% year-on-year[65]. - The group's revenue for the six months ended June 30, 2021, was approximately RMB 9,543.4 million, an increase of about 9.6% compared to RMB 8,710.3 million in the same period of 2020[78]. - The group's gross profit for the six months ended June 30, 2021, was approximately RMB 2,210.9 million, with a gross profit margin of 23.2%[80]. - The net profit for the period was RMB 676,543 thousand, up from RMB 545,776 thousand, reflecting a growth of approximately 23.9%[148]. - The company reported a net profit of RMB 1,071,329 thousand for the six months ended June 30, 2021, compared to RMB 912,890 thousand in 2020, reflecting an increase of approximately 17.4%[186]. Debt and Financing - The company has a total debt of $321 million with a 9.8% interest rate on its senior notes maturing in 2023[23]. - The company aims to balance debt financing and equity financing while exploring new compliant financing strategies, including light asset financing and private equity funds[58]. - The company issued a total of $398 million in overseas green bonds and secured a green loan of HKD 100 million from Hang Seng Bank, ensuring smooth financing channels and continuous improvement in financing quality[44]. - Total borrowings increased by approximately 16.9% to RMB 28,754.6 million as of June 30, 2021, from RMB 24,593.0 million as of December 31, 2020[92]. - The company incurred interest payments of RMB 1,234,049,000 during the financing activities[172]. Green Technology and Sustainability - The company operates with a core competitive advantage in green technology and lifecycle industry operations[30]. - The company has successfully developed over 100 high-quality green technology products, focusing on five major urban clusters in China and North America[39]. - The company is committed to zero emissions, zero carbon, and zero pollution, contributing to urban development and improving living conditions[36]. - The company aims to maintain indoor temperatures between 20°C and 26°C with energy consumption only one-third of that required for similar comfort levels in typical Chinese residences[39]. - The company emphasizes the importance of environmental protection and actively promotes green technology innovation while maintaining stable operational growth[49]. Market and Strategic Outlook - The company anticipates a tightening of real estate policies, with increased regulation across the supply, demand, and financial sectors, impacting future growth[50]. - The company plans to continue its green technology development strategy, aiming for zero carbon sustainable development and comprehensive fulfillment of social responsibilities in the second half of 2021[53]. - The company will focus on five major city clusters and prioritize investment in high-potential second and third-tier cities, enhancing its project layout and risk management[54]. - The company is navigating a challenging external environment due to geopolitical factors and potential pandemic rebounds, which may impact its operations[108]. Shareholder Structure and Governance - As of June 30, 2021, the major shareholder, Mr. Zhang Lei, holds 1,827,293,270 shares, representing 65.38% of the company's equity[109]. - The company has a significant shareholder structure, with Ms. Yu Jinmei holding approximately 66.11% of shares, and Polar Holdings Limited holding about 65.38%[115]. - The company has a stock option plan that allows for the granting of up to 250,354,200 shares to eligible participants, aimed at enhancing performance and retaining talent[121]. - The audit committee consists of four independent non-executive directors with extensive experience in audit, law, business, accounting, and regulatory matters[140]. Cash Flow and Assets - Cash, restricted cash, and bank balances increased by approximately 23.6% to RMB 17,424.6 million as of June 30, 2021, from RMB 14,092.7 million as of December 31, 2020, maintaining a robust cash flow situation[91]. - The company's total assets as of June 30, 2021, were RMB 83,176,212 thousand, an increase from RMB 68,145,837 thousand as of December 31, 2020, representing a growth of approximately 22.0%[150]. - The cash flow from operating activities for the six months was RMB 633,196,000, while cash used in investing activities was RMB 1,663,436,000[172]. Dividends and Share Performance - The company declared an interim dividend of HKD 0.0481 per share for the six months ended June 30, 2021[137]. - The company declared a dividend of HKD 0.0365 per share for the six months ended June 30, 2021, compared to HKD 0.0355 per share for the same period in 2020[193]. - The basic and diluted earnings per share were calculated based on a weighted average of 2,794,994,000 shares for both 2021 and 2020, indicating no change in the number of shares[197].

Green Technology and Sustainability - The company reported a significant focus on green technology, emphasizing the development of energy-efficient systems that reduce energy consumption to one-third of typical residential needs in China[17]. - The company has successfully developed over 100 high-quality green technology products, targeting five major urban clusters in China and focusing on North America for international expansion[18]. - The company received multiple awards for its green technology products, including the ACTIVE HOUSE Technology Innovation Award and WELL Building Standard certifications[19]. - The company has been recognized as the second model for green real estate operations in China, highlighting its commitment to sustainability[19]. - The company continues to emphasize green technology and sustainable development in its projects, contributing to urban development and environmental protection[21]. - The company achieved a total green building certification area of 7.75 million square meters, with 28 national green residential certifications, accounting for nearly 70% of the national total[32]. - The company’s green bond issuance reflects its leadership in green real estate and commitment to addressing climate change[127]. - The company’s green bonds have received ratings from S&P and certification from HKQAA, indicating high standards in green finance[126]. Financial Performance - The company's contracted sales amounted to approximately RMB 42.21 billion for the year ended December 31, 2020, representing a year-on-year increase of 16.6%[26]. - The group's revenue for the year ended December 31, 2020, was approximately RMB 15,740.5 million, an increase of about 8.2% compared to RMB 14,551.7 million for the year ended December 31, 2019, primarily due to an increase in delivered construction area and average selling price[76]. - The group's gross profit for the year ended December 31, 2020, was approximately RMB 3,784.5 million, with a gross margin of about 24.0%, a decrease of approximately 1.5 percentage points from the previous year[78]. - The profit attributable to the owners of the group increased by approximately 1.1% from RMB 730.7 million for the year ended December 31, 2019, to approximately RMB 739.0 million for the year ended December 31, 2020[88]. - The company reported a significant increase in revenue, achieving a total of $1.2 billion for the fiscal year, representing a 15% year-over-year growth[188]. - The company reported a significant increase in revenue for the fiscal year 2020, with total revenue reaching approximately 1.2 billion RMB, representing a year-over-year growth of 15%[199]. Market Expansion and Projects - The company acquired 24 new projects in cities such as Chongqing, Changsha, and Taiyuan, adding approximately 462.6 million square meters of planned construction area, remaining stable compared to the previous year[30]. - The company is expanding its market presence with multiple projects across various provinces, including Anhui, Hubei, and Guangdong[66]. - The company is actively expanding its market presence with projects in various provinces, including Anhui, Hunan, and Shanxi[72]. - The company is focusing on strategic expansion through new projects and partnerships in key urban areas[72]. - The company plans to enhance its digital marketing strategy, expecting a 40% increase in online sales[188]. - The company is actively pursuing market expansion, targeting key cities in China, with plans to enter three new markets by the end of 2021[199]. Corporate Governance and Management - The company has implemented a high level of corporate governance, believing it is crucial for long-term success and sustainable development[139]. - The board consists of ten members, including three executive directors and four independent non-executive directors, ensuring a balanced skill set and experience[142]. - The board held five meetings and two shareholder meetings from January 1, 2020, to December 31, 2020, to review financial performance and compliance[150]. - The company has established a standard code for securities trading by directors, ensuring compliance throughout the year[141]. - The company has adopted appropriate accounting policies and made prudent judgments in preparing the financial statements for the year ended December 31, 2020[158]. - The company has established a nomination policy since January 15, 2019, which outlines the criteria for evaluating and selecting candidates for the board[175]. Research and Development - The company has a strong emphasis on research and development, with a dedicated design institute focusing on innovative building technologies[17]. - Research and development investments increased by 20%, totaling $50 million, aimed at innovative green building technologies[188]. Investor Relations and Communication - The company has actively increased investor interaction opportunities through detailed explanations and clear communication[122]. - The company held a total of 25 investor relations activities in 2020, including online and in-person events, to enhance communication with investors and improve transparency[124]. - The board of directors emphasized the importance of shareholder communication and engagement during the annual meeting[186]. - The company will enhance communication with shareholders and investors through various channels, including meetings and investor forums, to improve transparency[184]. Acquisitions and Financing - The company has issued green senior notes totaling USD 700 million and successfully issued its first residential mortgage-backed securities amounting to RMB 620 million[31]. - The company issued green senior notes amounting to USD 350 million at an interest rate of 7.95%, maturing in 2021[106]. - The company completed the buyback of all outstanding principal of the 2019 series notes, totaling $219,995,000 as of the announcement date[113]. - The company acquired a 49% stake in Chongqing Kangjia Real Estate Development Co., Ltd. for RMB 352,310,000, with the acquisition completed on September 17, 2020[103]. - The company also acquired a 49% stake in Chongqing Chengda Real Estate Co., Ltd. for RMB 274,647,450, with the acquisition completed on December 22, 2020[104]. Operational Efficiency - The company is committed to enhancing its project management capabilities to ensure timely delivery and quality, which is critical for maintaining investor confidence and market competitiveness[69]. - The company has established a new partnership with a leading tech firm to leverage AI in property management, expected to reduce operational costs by 10%[199].