Real Estate Performance - The total net saleable floor area transferred to customers for the year ended December 31, 2024, was approximately 3,340 square meters, a decrease of about 96% compared to 92,503 square meters in the same period of 2023[19]. - The sales revenue from the real estate business was approximately RMB 43.1 million, representing a year-on-year decrease of about 97%[19]. - The company has 27 completed real estate projects with a total construction area of approximately 3,145,569 square meters as of December 31, 2024[9]. - The company has 16 completed real estate projects in Henan province as of December 31, 2024, focusing on resource integration and business development[35]. - The real estate market in Zhengzhou has seen a significant decline in volume and price, but government policies and infrastructure improvements are expected to stabilize the market[34]. - The company has 8 real estate projects in Hainan, with 6 completed and 1 under development[46]. - The company has 4 completed real estate projects in the Yangtze River Delta region as of December 31, 2024, with plans to expand in the "Shanghai one-hour economic circle"[54]. - The company has 1 completed real estate project in the Greater Bay Area as of December 31, 2024, with a focus on the Shenzhen one-hour economic circle[63]. - The property development business generated revenue of approximately RMB 43.1 million for the year ending December 31, 2024, down approximately 97% year-on-year, with major contributions from projects such as Xijingfu and Weiye Shangcheng[69]. - Gross profit for the property development business was approximately RMB 11.7 million, a significant decrease of about 88% compared to 2023, while the gross margin increased from 6% to 27% due to higher-margin commercial unit sales[69]. Strategic Direction - The company plans to expand "light asset financing and construction projects" in economically active regions such as the Yangtze River Delta while ensuring cash flow and survival[18]. - The company aims to adapt to the new real estate development model by collaborating with state-owned platform companies to undertake high-quality market projects[19]. - The company is shifting its development strategy from "growing larger" to "refining and specializing" in response to market conditions and government policies[19]. - The company will focus on optimizing resources and investment-operation models to align with policy support and market demand[19]. - The company aims to strengthen strategic partnerships in 2024 to enhance performance in traditional real estate projects and reduce operational risks through collaboration[21]. - In 2025, the company plans to explore new business opportunities and improve cash flow from existing assets while focusing on the transformation of traditional real estate through industrial development[22]. - The company emphasizes cost control by optimizing project cost structures and ensuring budget compliance to minimize risks and protect profit targets[23]. - The company is actively seeking strategic partners for joint development and infrastructure projects to maximize resource integration and minimize capital occupation[23]. Financial Overview - Total revenue for the year ending December 31, 2024, is approximately RMB 43.1 million, a decrease of about 97% compared to the same period in 2023[67]. - Net loss attributable to shareholders for the year ending December 31, 2024, was approximately RMB 311.3 million[67]. - Total assets decreased to RMB 3,698.1 million as of December 31, 2024, down from RMB 3,859.0 million in 2023[66]. - Total liabilities increased to RMB 2,378.1 million as of December 31, 2024, compared to RMB 2,131.1 million in 2023[66]. - Net financial expenses increased by approximately 141% to RMB 44.7 million due to an increase in loans and borrowings[75]. - Selling and distribution expenses decreased by approximately 53% to RMB 5.5 million, primarily due to reduced promotional activities for real estate projects[72]. - Administrative expenses decreased by approximately 13% to RMB 38.7 million, attributed to effective cost control measures[73]. - As of December 31, 2024, the company's net current assets were approximately RMB 1,029,600,000, a decrease of about 28% compared to the same period in 2023[78]. - The total outstanding loans and borrowings amounted to approximately RMB 988,600,000 as of December 31, 2024[78]. - The employee benefits expense totaled approximately RMB 27,900,000 for the year ended December 31, 2024, down from RMB 38,600,000 in 2023[81]. - The net capital debt ratio was approximately 73% as of December 31, 2024, compared to 43% on December 31, 2023[85]. Corporate Governance - The company has maintained high standards of corporate governance to enhance value for customers and shareholders[104]. - The board of directors is responsible for overseeing the company's policies, strategies, and financial performance, ensuring compliance with the Hong Kong Stock Exchange listing rules[105]. - The audit committee, nomination committee, and remuneration committee play crucial roles in ensuring good corporate governance within the company[106]. - The company has been compliant with the Hong Kong Corporate Governance Code throughout the fiscal year ending December 31, 2024[104]. - The board consists of a majority of independent non-executive directors, with three independent directors making up over half of the board[114]. - The company has established a robust internal control and risk management framework to safeguard its assets and ensure accurate financial reporting[105]. - The board has adopted a training program for new directors to familiarize them with the company's operations, strategies, and governance practices[113]. - The company has mechanisms in place for informal meetings between the executive chairman and independent directors to discuss financial performance and governance matters[115]. - The company has established a comprehensive code of conduct and conflict of interest policies to prevent illegal and improper behavior among employees[146]. Employee and Shareholder Engagement - The company expresses gratitude to management and employees for their contributions and encourages shareholders to continue providing strategic insights for future development[24]. - The company has reduced its workforce to 42 employees as of December 31, 2024, down from 277 in 2023[81]. - The gender ratio among employees is approximately 50% male to 50% female, reflecting the company's commitment to diversity[191]. - Shareholders have the right to attend and participate in general meetings, where they can express their views and ask questions regarding the company's operations[148]. - The company ensures that all shareholders are treated equally and are informed of significant developments affecting the group in a timely manner[148]. Market Conditions and Opportunities - The Hainan Free Trade Port is experiencing rapid development, with significant investments in infrastructure and real estate, supported by improved business environment regulations[39]. - Hainan's GDP has increased significantly from less than RMB 6 billion to nearly RMB 500 billion, establishing it as a renowned tourist destination[45]. - The real estate market in Hainan is experiencing strong demand despite insufficient supply, with a focus on government-supported housing models[45]. - The Yangtze River Delta region continues to maintain a leading economic position in China, with stable growth and a focus on prudent real estate financial management[51]. - The Guangdong-Hong Kong-Macao Greater Bay Area is transitioning to high-quality financial development, enhancing financial support for regional growth[59]. - The real estate market in the Greater Bay Area is entering a new phase focused on stabilizing housing prices, with policies aimed at ensuring a healthy market[62].

Financial Performance - Total revenue for the year ended December 31, 2024, was RMB 1,528,212,000, a decrease from RMB 1,571,343,000 in 2023, representing a decline of approximately 2.7%[4] - Gross profit for the year was RMB 97,301,000, compared to RMB 97,301,000 in 2023, indicating no change in gross profit margin[4] - The net loss for the year was RMB 405,699,000, significantly higher than the net loss of RMB 95,621,000 in 2023, reflecting an increase of approximately 324%[5] - Basic and diluted loss per share for the year was RMB 158.72, compared to RMB 26.83 in 2023, indicating a substantial increase in loss per share[5] - The company reported a loss from continuing operations of approximately RMB 413,400,000 for the year[12] - The net loss attributable to the company's owners for 2024 was RMB 311,294 thousand, compared to a loss of RMB 52,632 thousand in 2023, indicating a substantial increase in losses[22] - The group reported a pre-tax loss from continuing operations of RMB 319,149,000 for 2024, compared to RMB 53,762,000 in 2023, indicating a significant increase in losses[30] Assets and Liabilities - Total non-current assets decreased to RMB 702,725,000 in 2024 from RMB 882,264,000 in 2023, a decline of approximately 20.4%[6] - Current assets totaled RMB 2,995,424,000, slightly up from RMB 2,976,762,000 in 2023, showing a marginal increase of about 0.6%[6] - Total liabilities increased to RMB 1,965,865,000 in 2024 from RMB 1,542,205,000 in 2023, representing an increase of approximately 27.6%[6] - The total liabilities for the company increased to RMB 2,378,131 thousand in 2024 from RMB 2,131,086 thousand in 2023, representing an increase of approximately 11.6%[22] - The net assets of the company decreased from RMB 1,727,940,000 in 2023 to RMB 1,320,018,000 in 2024, indicating a decline of about 24%[7] - The company's total equity also fell from RMB 1,727,940,000 in 2023 to RMB 1,320,018,000 in 2024, a decrease of approximately 24%[7] - The total amount of loans and borrowings increased to RMB 988,594,000 in 2024 from RMB 810,187,000 in 2023, reflecting a rise in financing needs[39] Operational Highlights - The company plans to focus on market expansion and new product development in the upcoming fiscal year[3] - The company has not experienced significant changes in its main business operations, focusing on residential and commercial property development in China[9] - The company is adjusting sales and pre-sale activities to meet budgeted sales and pre-sale amounts for property projects[16] - The company is actively negotiating with the Zhengzhou Jinshui Science and Technology Park Management Committee regarding project completion assessments[16] Revenue Streams - For the year ending December 31, 2024, the revenue from continuing operations was RMB 43,131 thousand, a significant decrease from RMB 1,528,212 thousand in 2023[22] - The total revenue from discontinued operations was RMB 60,450 thousand in 2024, compared to RMB 84,027 thousand in 2023, reflecting a decline of approximately 28.1%[22] - The company reported a 97% decrease in revenue from property development, down to RMB 43,131 thousand from RMB 1,528,212 thousand in 2023[49] - The equipment manufacturing business generated revenue of approximately RMB 60,500,000 before being classified as discontinued operations as of December 31, 2024[52] Expenses and Cost Management - The company reported a significant increase in administrative expenses, totaling RMB 38,680,000 in 2024 compared to RMB 44,237,000 in 2023, reflecting a decrease of about 12.5%[4] - Selling and distribution expenses were approximately RMB 5,500,000, a decrease of about 53% compared to 2023, mainly due to reduced promotional and marketing activities for real estate projects[54] - Administrative expenses were approximately RMB 38,700,000, a decrease of about 13% compared to 2023, attributed to effective cost control measures[55] - Other operating expenses increased by approximately RMB 64,400,000 to about RMB 73,000,000, mainly due to increased impairment losses on investment properties and subsidiaries[56] Financial Position - Cash and cash equivalents were reported at approximately RMB 7,700,000, excluding restricted cash of about RMB 23,500,000[12] - The net current assets were approximately RMB 1,029,600,000, a decrease of about 28% compared to 2023, mainly due to increases in loans and trade payables[61] - The net debt-to-equity ratio increased to approximately 73% as of December 31, 2024, compared to 43% in 2023[62] Corporate Governance and Compliance - The company has maintained full compliance with the corporate governance code throughout the year ended December 31, 2024[71] - The audit committee has reviewed the annual performance and confirmed that it was prepared in accordance with applicable accounting standards and regulations[70] Future Outlook - The company aims to expand its projects through collaboration and resource integration, focusing on minimizing capital occupation[66] - The company emphasizes cost management from a profitability perspective, optimizing project cost structures to reduce enterprise risk[65] - The company plans to apply new accounting standards related to financial instruments and disclosures starting from 2026[45] Shareholder Information - The board did not declare or recommend any dividends for the year ending December 31, 2024[41] - The company did not declare or recommend any final dividend for the year ended December 31, 2024, consistent with 2023[73] - The company has not engaged in any buybacks, redemptions, or sales of its listed securities during the year ended December 31, 2024[68] Employee Information - As of December 31, 2024, the group had 42 employees, a decrease from 277 employees in 2023[67] - Total employee benefits expenses for the year ended December 31, 2024, amounted to approximately RMB 27,900,000, down from RMB 38,600,000 in 2023[67]

Financial Performance - For the fiscal year ending December 31, 2024, total revenue was RMB 1,528,212,000, a decrease from RMB 1,572,343,000 in 2023, representing a decline of approximately 2.8%[4] - The gross profit for the year was RMB 97,301,000, compared to RMB 97,301,000 in the previous year, indicating no change in gross profit margin[4] - The net loss for the year was RMB 405,699,000, significantly higher than the net loss of RMB 95,621,000 in 2023, reflecting an increase in loss of approximately 324%[5] - The company reported a significant increase in operating expenses, totaling RMB 370,345,000, compared to RMB 28,589,000 in the previous year, marking an increase of approximately 1,295%[4] - The company’s basic loss per share for the year was RMB 158.72, compared to RMB 26.83 in 2023, indicating a significant increase in loss per share[5] - The company’s total comprehensive loss for the year was RMB 390,074,000, compared to RMB 98,736,000 in 2023, reflecting an increase of approximately 295%[5] - The group reported a loss from operations of RMB (361,438) thousand for the year 2024, compared to a loss of RMB (27,530) thousand in 2023[22] - The group’s loss attributable to owners for the year 2024 was RMB (311,294) thousand, compared to RMB (52,632) thousand in 2023, indicating a worsening financial position[22] - The pre-tax loss from continuing operations for 2024 was RMB 319,149,000, compared to RMB 53,762,000 in 2023, indicating a significant increase in losses[29] - The basic and diluted loss per share from continuing operations for 2024 was RMB (162.72), up from RMB (27.41) in 2023, reflecting a worsening financial performance[30] Assets and Liabilities - The total assets as of December 31, 2024, were RMB 2,995,424,000, slightly up from RMB 2,976,762,000 in 2023, showing a growth of about 0.6%[6] - The current liabilities increased to RMB 1,965,865,000 from RMB 1,542,205,000 in 2023, representing an increase of approximately 27.6%[6] - The company’s non-current assets decreased to RMB 702,725,000 from RMB 882,264,000 in 2023, a decline of approximately 20.4%[6] - The total non-current liabilities decreased from RMB 588,881,000 in 2023 to RMB 412,266,000 in 2024, representing a reduction of approximately 30%[7] - The net assets of the company decreased from RMB 1,727,940,000 in 2023 to RMB 1,320,018,000 in 2024, indicating a decline of about 23.6%[7] - The total equity attributable to owners decreased from RMB 1,289,331,000 in 2023 to RMB 987,553,000 in 2024, reflecting a decrease of approximately 23.5%[7] - As of December 31, 2024, the total loans and borrowings amounted to approximately RMB 988,600,000, with RMB 854,000,000 classified as current borrowings[12] - The total loans and borrowings increased to RMB 988,594,000 in 2024 from RMB 810,187,000 in 2023, indicating a rise in financial leverage[39] Cash Flow and Financial Management - The company’s cash and cash equivalents decreased to RMB 31,220,000 from RMB 61,553,000 in the previous year, a decline of approximately 49.1%[6] - Cash and cash equivalents were reported at approximately RMB 7,700,000, excluding restricted cash of about RMB 23,500,000[12] - The group’s net financial expenses for 2024 amounted to RMB (54,017) thousand, compared to RMB (22,983) thousand in 2023, indicating an increase in financial costs[26] - Net financial expenses increased by approximately 141% to about RMB 44,700,000, primarily due to an increase in loans and borrowings[57] - The net debt-to-equity ratio increased to approximately 73% as of December 31, 2024, compared to 43% in the previous year[62] Revenue Breakdown - For the year ending December 31, 2024, the group reported external customer revenue of RMB 43,131 thousand from continuing operations, a significant decrease from RMB 1,528,212 thousand in 2023[22] - The company reported a 97% decrease in revenue from property development, down to RMB 43,131 thousand from RMB 1,528,212 thousand in 2023[49] - The gross profit for property development was approximately RMB 11,700,000, a significant decrease of about 88%, while the gross margin increased from 6% to 27% due to higher margin sales from commercial units[51] - Revenue from equipment manufacturing decreased by 28% to RMB 60,450 thousand, with a consistent gross profit margin of 28%[49] - The equipment manufacturing business generated revenue of approximately RMB 60,500,000 before being sold on October 15, 2024, allowing the company to reallocate financial resources for future development[52] Operational Changes and Strategies - The company is actively negotiating with the Zhengzhou Jinshui Science and Technology Park Management Committee regarding project completion assessments and loan repayment extensions[16] - The company is adjusting sales and pre-sale activities to meet budgeted sales and pre-sale amounts for property projects[16] - The company has not experienced significant changes in its main business operations, focusing on residential and commercial property development in China[9] - The company aims to enhance cost management by optimizing project cost structures and increasing control over operational costs[66] - The group plans to continue expanding its financing business and integrating resources to maximize funding efficiency[65] - The company plans to explore new business opportunities and enhance cash flow while continuing to advance the transformation of traditional real estate through industrial integration[64] Employee and Corporate Governance - As of December 31, 2024, the group had 42 employees, a decrease from 277 employees in 2023[67] - Total employee benefits expenses for the year ended December 31, 2024, amounted to approximately RMB 27,900,000, down from RMB 38,600,000 in 2023[67] - The audit committee has reviewed the annual performance and confirmed compliance with applicable accounting standards and regulations[70] - The board did not declare or recommend any dividends for the year ending December 31, 2024[41] - The company did not declare or recommend any final dividend for the year ended December 31, 2024[73] - The group has not engaged in any purchases, redemptions, or sales of its listed securities during the year ended December 31, 2024[68] - The company expresses gratitude to the management team and employees for their efforts in creating higher value[81] Future Outlook and Reporting - The company has adopted all new and revised International Financial Reporting Standards effective from January 1, 2024[43] - The company anticipates no significant impact on its financial statements from the newly adopted accounting standards[44] - The company plans to apply new accounting standards related to financial instruments and disclosures starting from 2025 and 2026[45] - The company expects to evaluate the detailed impact of new accounting standards on its financial statements[47] - The annual report for the year ending December 31, 2024, will be published on the Hong Kong Stock Exchange and the company's website[80] - Trading of the company's shares was suspended on April 1, 2025, pending the release of the annual performance announcement[82] - The company has applied for the resumption of trading of its shares on May 2, 2025[82] - The executive chairman of the company is Chen Zhiyong, with independent non-executive directors including Liu Ning, Dong Xincheng, and Chen Shimin[84]

WEIYE HOLDINGS LIMITED 偉業控股有限公司 (於新加坡共和國註冊成立的有限責任公司) 香港股份代號：1570 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|------------|-------------------|-------|-------|-------|-------|-------|-------|-------|-------|--------------------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ...

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 本 公 告 全 部 或 任 何 部 分 內 容 而 產 生 或 因 依 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 （香港股份代號：1570） （於新加坡共和國註冊成立的有限責任公司） 未經審核中期業績公告 截 至2024年6月30日止六個月 偉 業 控 股 有 限 公 司（「本公司」）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2024年6月30日 止 六 個 月 之 未 經 審 核 業 績。本 公 告 列 載 本 公 司截至2024年6月30日 止 六 個 月 之 中 期 報 告（「2024年中期報告」）全 文，並 符 合 香 港 聯 合 交 易 所 有 限 公 司（「聯交所」）證 券 上 市 規 則（「上市規則」）中 有 關 中 期 業 績 初 步 公 告 附 載 的 資 料 的 要 求。 * 僅供識別 WEIYE HOLDINGS LIM ...

中國 中國 湖州 江蘇 浙江 揚州 偉業控股有限公司 2023年度報告 15 2023年長三角區域經濟繼續保持全國領 先地位，經濟發展態勢繼續保持穩定增 長，繼續堅持不將房地產作為短期刺激 經濟的手段，堅持穩地價、穩房價、穩 預期，實施房地產金融審慎管理制度。 2023年供給端方面，央行根據銀行業金 融機構的資產規模、機構類型等因素， 分檔設定房地產貸款集中度管理要求， 土地市場進行集中土拍控制地價。需求 端方面，進行「三條紅線」管制，在各種 因素的疊加下，長三角區域房地產市場 受到不同程度的影響，銷售量與2022年 同期相比回落明顯，土地競拍市場熱度 降低，地價溢價率走低。 2023年，長三角區域公司繼續以區域內「五大都市圈」內城市為核心，優先拓展「上海一小時經濟圈」內城市，積極尋求「總價適中、 流速較快、預售寬鬆」的優質常規項目。通過融資代建、合作開發多項措施並舉，加速推進新項目落地。在項目運營管控中，通過 多種形式實現「穩發展、控風險」的運營目標。截至2023年12月31日為止，我們共有4個位於長三角已竣工的房地產項目。 粵港澳大灣區 偉業控股有限公司 2023年度報告 17 發展項目與戰略 財務亮點 ...

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 本 公 告 全 部 或 任 何 部 分 內 容 而 產 生 或 因 依 賴 該 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 （香港股份代號：1570） （於新加坡共和國註冊成立的有限責任公司） 截 至2023年12月31日止年度 全年財務業績公告 偉 業 控 股 有 限 公 司（「本公司」）之 董 事（「董 事」）會（「董事會」）提 交 本 公 司 及 其 附 屬 公 司（統 稱「本集團」）截 至2023年12月31日 止 年 度 之 綜 合 業 績，以 及 相 關 對 比 數 據，如 下： * 僅供識別 – 1 – 綜合損益及其他全面收益表 截 至2023年12月31日止年度 | | 附 註 | 2023年 | 2022年 | | --- | --- | --- | --- | | | | 人民幣千元 | 人民幣千元 | | 收 入 | 3 | 1,612,239 | 1,326,465 | | 銷售成本 | | ...

目錄 | 公司資料 | 02 | | --- | --- | | 財務概要 | 03 | | 管理層討論及分析 | 04 | | 權益披露 | 08 | | 企業管治及其他資料 | 10 | | 簡明綜合損益及其他全面收入表 | 13 | | 簡明綜合財務狀況表 | 15 | | 簡明綜合現金流量表 | 17 | | 簡明綜合權益變動表 | 19 | | 簡明綜合財務報表附註 | 21 | 偉業控股有限公司 公司資料 執行董事 陳志勇先生 獨立非執行董事 劉寧先生 董心誠先生 林英鴻先生 審核委員會 林英鴻先生 （主席） 董心誠先生 劉寧先生 提名委員會 董心誠先生 （主席） 林英鴻先生 劉寧先生 薪酬委員會 劉寧先生 （主席） 董心誠先生 林英鴻先生 公司秘書 陳雪莉女士(FCS, FCG) 文潤華先生(ACG, HKACG) 位於中國的總部及主要營業地點 中國河南省 鄭州市鄭東新區 鄭開大道 楊橋路交叉口 偉業國際廣場 A座19樓 位於香港的主要營業地點 香港 九龍紅磡德豐街22號 海濱廣場二座13樓1307A室 註冊辦事處 10 Bukit Batok Crescent #06–05 The Spire ...

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，概不對本公告全 部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 （於新加坡共和國註冊成立的有限責任公司） （香港股份代號：1570） 未 經 審 核 中 期 業 績 公 告 截 至2023年6月30日 止 六 個 月 偉業控股有限公司（「本公司」）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業績。本公告列載本公 司截至2023年6月30日止六個月之中期報告（「2023年中期報告」）全文，並符合香 港聯合交易所有限公司（「聯交所」）證券上市規則（「上市規則」）中有關中期業績 初步公告附載的資料的要求。 ...

Real Estate Development - The total net saleable floor area transferred to customers was approximately 120,375 square meters, an increase of about 14% compared to 105,267 square meters in the same period of 2021[15]. - The sales revenue from real estate business was approximately RMB 1.2 billion, representing a year-on-year increase of about 28% due to the resumption of project deliveries affected by the pandemic[15]. - The company plans to continue its "real estate + industry" development model, focusing on high-quality projects and selective deepening in target cities[13]. - The company has 25 completed real estate projects with a total construction area of approximately 2,980,797 square meters as of December 31, 2022[5]. - The company is actively responding to the government's "guarantee delivery" policy by collaborating with state-owned platform companies to undertake quality projects in the market[15]. - The company aims to shift its business development model from "doing strong and big" to "doing precise and detailed" in response to market conditions[15]. - The company is focusing on developing industrial real estate projects, including smart cold chain logistics industrial parks and global health and wellness tourism bases[16]. - The company has three ongoing real estate projects with a total construction area of approximately 194,902 square meters[5]. - The company maintains a cautiously optimistic attitude towards the recovery of the real estate industry in 2023, despite uncertainties in the international and domestic economic environment[12]. - The company anticipates better policy support for first-time homebuyers and improved housing demand due to the rise of millennial and Gen Z consumer groups, leading to a shift towards high-end market demand[18]. - The company plans to strengthen strategic partnerships to enhance performance in traditional real estate projects and reduce operational risks through collaboration[19]. - The company aims to transition from heavy asset investments to light asset operations, focusing on cash flow recovery and healthy development amidst adverse factors like real estate policies and the pandemic[21]. - The company will continue to explore mature regional markets such as the Yangtze River Delta and the Guangdong-Hong Kong-Macau Greater Bay Area, prioritizing "EPC+" projects and light asset projects[22]. - The company is committed to optimizing project cost structures and enhancing cost management to ensure project profitability and minimize risks[21]. - The real estate market in Zhengzhou is expected to stabilize and develop steadily due to government support policies and the city's rising status as a national central city[34]. - As of December 31, 2022, the company has completed 16 real estate projects located in Henan Province[35]. - The company continues to focus on the "Shanghai one-hour economic circle" and seeks quality projects with moderate total prices and fast turnover[52]. - The company has 4 real estate projects in the Yangtze River Delta region as of December 31, 2022, with 3 completed and 1 under development[52]. - The real estate market in the Yangtze River Delta experienced a significant decline in sales volume compared to 2021, influenced by various regulatory measures[50]. - The company aims to explore high-quality projects in regions such as Guangdong West, Guangxi, and Southwest China in 2023[45]. - The company is actively seeking to transform and upgrade its real estate projects in response to external market changes, focusing on low-cost and high-yield industrial projects[52]. - The Hainan Free Trade Port's construction is expected to enhance the value of real estate in the region as it approaches the 2025 closure operation milestone[44]. Financial Performance - In 2022, the total revenue of the company was approximately RMB 1,326.5 million, a decrease of about 30% compared to 2021[64]. - The real estate development segment generated revenue of approximately RMB 1,201.1 million in 2022, an increase of about 28% year-on-year[65]. - The equipment manufacturing segment recorded revenue of approximately RMB 125.3 million, a 55% increase compared to 2021[67]. - The gross profit from real estate development was approximately RMB 176.3 million, a 15% increase from the previous year[66]. - The gross profit margin for the equipment manufacturing segment improved from 23% to 24% in 2022[67]. - The net financial expenses decreased by approximately 46% to RMB 24.2 million due to reduced loans and borrowings[71]. - The company’s administrative expenses were approximately RMB 106.5 million, a decrease of about 38% year-on-year due to strict cost control measures[70]. - The company expects the real estate industry to stabilize and recover in the foreseeable future following government policy adjustments[64]. - The income tax expense for the year ended December 31, 2022, increased by approximately RMB 12,800,000 due to higher profits, while land appreciation tax provisions decreased by about RMB 42,900,000[72]. - The net decrease in development properties and prepaid costs was approximately RMB 1,600,200,000, primarily due to the sale of subsidiaries amounting to RMB 764,400,000[73]. - As of December 31, 2022, the group's current assets net value was approximately RMB 1,301,400,000, a decrease of about 26% compared to the same period in 2021[74]. - The net debt-to-equity ratio as of December 31, 2022, was approximately 23%, down from 31% on December 31, 2021[81]. - The group sold its entire equity in Guangdong Leidin Real Estate Development Co., Ltd. for approximately RMB 112,000,000 and in Wei Ye Holdings (Shenzhen) Group Co., Ltd. for approximately RMB 81,000,000 during the year ended December 31, 2022[84]. - Employee benefit expenses totaled approximately RMB 70,800,000 for the year ended December 31, 2022, down from RMB 108,600,000 in 2021[78]. - The group’s outstanding loans and borrowings amounted to approximately RMB 838,300,000 as of December 31, 2022[74]. - Contract liabilities decreased by approximately RMB 949,400,000 due to sales confirmations in 2022[73]. - Trade and other payables decreased by approximately RMB 422,200,000, mainly due to the settlement of construction projects[73]. - The company had no available reserves for distribution due to accumulated losses as of December 31, 2022[174]. - The company’s issued share capital remained unchanged as of December 31, 2022[169]. - The company reported no significant changes in its main business activities as of December 31, 2022[160]. - The company did not recommend the payment of a final dividend for the year ending December 31, 2022, consistent with the previous year[163]. - The largest customer accounted for 29.40% of total sales, while the top five customers together represented 30.16%[175]. - The largest supplier contributed to 23.98% of total purchases, with the top five suppliers accounting for 68.22%[175]. Corporate Governance - The company maintains high standards of corporate governance to create value for customers and shareholders[93]. - The Board of Directors oversees the entire strategy and performance of the group, including major investments and financial performance reviews[94]. - The company has adhered to the Hong Kong Corporate Governance Code throughout the fiscal year ending December 31, 2022[93]. - The Audit Committee, Nomination Committee, and Remuneration Committee assist the Board in fulfilling its responsibilities[94]. - The company is headquartered in Zhengzhou, Henan Province, China, with a registered office in Singapore[91]. - The company has established relationships with major banks, including China Construction Bank and Shanghai Pudong Development Bank[91]. - The board of directors held 4 regular meetings in the year ending December 31, 2022, with all members attending 100% of the meetings[96]. - The company has a strong independent non-executive director presence, with over half of the board being independent, ensuring effective governance[100]. - The board approved significant investment and fundraising decisions, as well as the announcement of interim and annual financial results[96]. - The company has implemented internal guidelines requiring board approval for major transactions and agreements outside of normal business operations[96]. - The board is committed to ongoing training and updates regarding regulatory changes and financial reporting standards to enhance governance practices[97]. - The company has been listed on the Hong Kong Stock Exchange since April 6, 2016, and continues to provide directors with updates on listing rule changes[98]. - The board's composition includes members with diverse skills and experiences, facilitating effective decision-making[101]. - The company encourages directors to participate in seminars and training to improve their capabilities in fulfilling their responsibilities[97]. - The board has established a process for informal meetings to discuss financial performance and governance measures without management present[101]. - The company ensures that newly appointed directors receive comprehensive training and orientation regarding their roles and responsibilities[98]. - The company appointed Chen Zhiyong as the Chairman and Hong Junli as the CEO after Zhang Wei's resignation, ensuring compliance with corporate governance codes[102]. - The Nomination Committee consists of three independent non-executive directors, focusing on board effectiveness and strategic discussions[106]. - The company aims to achieve gender diversity on the board by having at least one director of a different gender by December 31, 2024[116]. - Independent non-executive directors are deemed independent and capable of making independent judgments regarding the company's affairs[115]. - The board has a diversity policy that considers various factors including gender, age, cultural background, and professional experience[116]. - Each executive director has a service contract with a term of three years, ensuring regular rotation and re-election at the annual general meeting[111]. - The Nomination Committee is responsible for reviewing the independence of independent non-executive directors annually[113]. - The company emphasizes collective decision-making within the board, preventing power concentration in individuals[104]. - The board's diversity policy is designed to support sustainable development and strategic goals[116]. - The company has adopted a nomination policy outlining the procedures and criteria for selecting and reappointing directors[117]. - The remuneration committee is composed of three independent non-executive directors, responsible for determining the remuneration framework for directors and key management personnel[119]. - The committee reviews and approves the remuneration policies and benefits plans for executives, ensuring they align with the company's objectives and performance[120]. - The company does not implement any employee stock option plans or long-term incentive plans for its executives[123]. - The remuneration for executive directors is linked to individual performance and is structured to include both fixed salary and variable components[123]. - The board ensures that independent non-executive directors do not receive excessive remuneration that could compromise their independence[123]. - The company has adopted a remuneration policy aimed at providing fair market compensation to attract and retain high-quality directors and management[125]. - The board is responsible for presenting a balanced assessment of the company's performance and financial position to shareholders[126]. - Management regularly provides the board with appropriate financial information regarding the group's performance and outlook[127]. - The company ensures compliance with applicable regulations regarding the handling and dissemination of insider information[127]. - The remuneration committee aims to ensure that termination clauses in executive contracts are fair and reasonable, avoiding excessive payouts[122]. Risk Management and Internal Control - The company maintains an internal control system across all subsidiaries, aiming to manage risks rather than eliminate them, providing reasonable assurance against significant financial misstatements or losses[128]. - The board and audit committee believe that the risk management and internal control systems were effective for the year ending December 31, 2022, addressing significant financial, operational, compliance, and IT risks[129]. - The audit committee consists of three independent non-executive directors, focusing on reviewing audit plans, financial statements, and risk management procedures[131]. - The company paid approximately RMB 2,400,000 for audit services to the external auditor for the year ending December 31, 2022, with no non-audit services provided[134]. - The company has established a whistleblowing policy allowing employees and third parties to report misconduct anonymously, with no reports received as of the report date[135]. - The audit committee is responsible for reviewing and approving all hedging policies and tools implemented by the company[136]. - The company emphasizes the importance of maintaining effective communication and cooperation between the audit committee and management[133]. - The audit committee has the discretion to invite any director or executive to attend meetings as necessary[133]. - The company has a structured process for receiving, retaining, and handling complaints that may negatively impact its operations[136]. - The audit committee will report any findings related to fraud or regulatory violations that could significantly affect the company's performance or financial condition[133]. - The company maintains a zero-tolerance policy towards corruption, bribery, fraud, and money laundering, adhering strictly to Chinese laws and the Hong Kong Prevention of Bribery Ordinance[138]. - The internal audit function is outsourced to an external consultant, ensuring independence from management and allowing unrestricted access to all company documents and personnel[139]. - The company has established a comprehensive communication policy to ensure all shareholders are treated equally and informed of significant developments in a timely manner[140]. - Shareholders have the right to attend and participate in the company's annual general meetings, where they can express their views and ask questions regarding the company's operations[141]. - The company will not implement selective disclosure, ensuring that price-sensitive information is publicly released before meetings with investors or analysts[142]. - The frequency and amount of dividends declared will consider the company's profit growth, cash position, and anticipated funding requirements for business growth[142]. - The company encourages shareholder participation in meetings to ensure high levels of accountability and to communicate its strategic and development plans[147]. - The audit committee reviews the adequacy and effectiveness of the internal audit function annually, ensuring it is supported with sufficient resources[139]. Employment and Workforce - As of December 31, 2022, the group employed a total of 294 full-time employees, a decrease from 449 in 2021, indicating a reduction of approximately 34.5%[182]. - The gender ratio of the employee workforce is approximately 70% male to 30% female, with the company continuing to consider diversity factors in hiring[182]. Shareholder and Stakeholder Relations - The company has complied with all relevant laws and regulations, promoting environmental and social responsibility[190]. - The controlling shareholders have adhered to their commitments under the non-competition agreement as assessed by independent non-executive directors[193]. - The company has not entered into any significant transactions or agreements where directors have a direct or indirect significant interest during the year[189]. - The board has the authority to determine director remuneration, which requires shareholder approval at the annual general meeting[179]. - The company maintained the required minimum public float as per listing rules as of the report date[194]. - There were no arrangements made during the fiscal year that would allow directors to benefit from acquiring shares or bonds of the company or any other company[195]. - As of the report date, the group has no share option plans in place[196]. - The auditor, Lixin Dehao, has expressed willingness to be reappointed as the company's auditor, with a resolution to be presented at the upcoming annual general meeting[197]. - The independent auditor's report confirms that the consolidated financial statements fairly reflect the group's financial position as of December 31, 2022, in accordance with International Financial Reporting Standards[200].