Financial Performance - In 2023, the company recorded revenue of approximately RMB 15.844 billion, an increase of 62.4% compared to the previous year[15]. - The net loss for the year was approximately RMB 6.433 billion, which represents an increase of 7.6% from the previous year's loss[15]. - Gross profit for 2023 was RMB 2.472 billion, up from RMB 1.727 billion in 2022, indicating a growth of 43.2%[8]. - Basic earnings per share for 2023 were a loss of RMB 112.39, compared to a loss of RMB 105.17 in 2022[8]. - The company reported a net loss of 6,432,595,000 RMB for the year ending December 31, 2023[25]. - The company recorded a net loss of approximately RMB 337 million in other income, a significant improvement from a loss of RMB 2.744 billion in 2022, mainly due to foreign exchange losses on dollar-denominated notes[60]. - Financing costs increased by 28.2% to approximately RMB 2.873 billion in 2023, compared to RMB 2.241 billion in 2022, primarily due to a decrease in capitalized interest from reduced construction projects[63]. - The company's cash and bank balances totaled approximately RMB 2.131 billion as of December 31, 2023, a decrease of 20.6% from RMB 2.684 billion in 2022[65]. Assets and Liabilities - Total assets decreased to RMB 77.720 billion in 2023 from RMB 95.030 billion in 2022, reflecting a decline of 18.2%[8]. - The total liabilities decreased to RMB 79.745 billion in 2023 from RMB 90.455 billion in 2022, a reduction of 11.5%[8]. - As of December 31, 2023, the company's current liabilities amounted to 66,412,141,000 RMB, with a net current liability of 6,688,272,000 RMB[25]. - As of December 31, 2023, the group provided guarantees for mortgage financing amounting to approximately RMB 6.213 billion, a decrease from RMB 10.415 billion in 2022[72]. - The group has provided guarantees for bank borrowings of joint ventures and associates, totaling approximately RMB 1.899 billion and RMB 3.188 billion respectively as of December 31, 2023[72]. Sales and Market Performance - In 2023, the total sales area of commercial housing decreased by 8.5% year-on-year to 111,735 million square meters, with residential sales area down by 8.2%[17]. - The total sales amount of commercial housing was 116,622 billion RMB, a decline of 6.5%, while residential sales amount decreased by 6.0%[17]. - Residential contract sales accounted for approximately RMB 2.38 billion, representing about 92.0% of the total contract sales amount[32]. - The company achieved a total contract sales amount of approximately RMB 2.586 billion in 2023, with a total sales area of 374,429 square meters[31]. - In the Guangdong-Hong Kong-Macao Greater Bay Area, the company achieved contract sales of RMB 818 million, accounting for 31.6% of total sales[39]. - In the Chengdu-Chongqing Economic Circle, the company recorded contract sales of RMB 546 million, representing 21.1% of total sales[40]. - The company reported contract sales of RMB 1.21 million in the Central China Urban Circle, accounting for 4.7% of total sales[41]. - In the Yangtze River Delta Urban Circle, contract sales reached RMB 424 million, representing 16.4% of total sales[43]. - In the Bohai Economic Rim, the company achieved contract sales of RMB 677 million, accounting for 26.2% of total sales[44]. Debt Management and Restructuring - The company successfully restructured its domestic bond repayment arrangements, which included the repayment of interest for various bonds[16]. - The company achieved significant debt reduction efforts, laying a solid foundation for future development[16]. - The company is focused on debt restructuring and optimizing its debt structure to reduce financial risks and ensure stable operations[20]. - The company is actively seeking new financing sources and accelerating asset sales to meet upcoming financial obligations and future cash flow needs[28]. Future Outlook and Strategy - The outlook for 2024 is cautious yet optimistic, with expectations of gradual market recovery supported by government policies[23]. - The company plans to enhance project management and execution to ensure timely delivery of projects, maintaining customer trust and reputation[20]. - The company aims to participate in urban renewal projects, such as village renovations and old community upgrades, to explore new growth opportunities[21]. Corporate Governance and Management - The board of directors did not recommend the payment of a final dividend for the year ended December 31, 2023[71]. - The group is committed to enhancing sustainable development in business, environment, and community, with strategies and performance detailed in a separately published ESG report[94]. - The company emphasizes compliance with relevant laws and regulations, as highlighted in the corporate governance and ESG reports[93]. - The company has established a mandatory provident fund scheme for all employees in Hong Kong, with contributions based on a certain percentage of employees' basic salaries[151]. - The board consists of four executive directors, two non-executive directors, and three independent non-executive directors, ensuring a balanced composition[168]. - The company has adopted a board diversity policy to enhance performance, considering factors such as age, experience, cultural background, and professional skills[190]. - The independent non-executive directors have reviewed the framework agreements, confirming they were established in the ordinary course of business and are fair and reasonable[153]. Shareholder Information - The total number of issued shares as of December 31, 2023, was 5,772,597,864 shares[103]. - Ms. Zeng Baobao held 3,314,090,500 shares, representing 57.41% of the company's equity as of December 31, 2023[103]. - The company has no major investments other than those disclosed in the significant acquisitions and sales section[118]. - The top five customers accounted for less than 30% of the total sales for the year, indicating a diversified customer base[122]. - The top five suppliers accounted for less than 30% of total purchases, reflecting a diversified supply chain[122]. Compliance and Audit - The company has implemented compliance procedures to ensure adherence to applicable laws and regulations impacting its operations[160]. - The company's auditor, BDO Limited, has audited the consolidated financial statements for the year ending December 31, 2023[158]. - The audit committee reviewed the adequacy and effectiveness of the internal control system, including financial, operational, compliance monitoring, and risk management aspects[195]. - The board believes that the internal control and risk management systems are effective and adequate, with no significant issues affecting shareholders identified during the reporting period[197].

Financial Performance - The company's total revenue for the year ended December 31, 2023, was approximately RMB 15.84 billion, representing a growth of about 62.4% compared to the previous year[4]. - The net loss attributable to the company's owners for the same period was approximately RMB 6.49 billion, compared to a loss of RMB 6.07 billion in the previous year[7]. - The company reported a basic and diluted loss per share of RMB 112.39, compared to RMB 105.17 in the previous year[7]. - The group reported a net loss of RMB 6,432,595,000 for the year ending December 31, 2023[16]. - The company reported a net loss of RMB 840,871,000 for the year ended December 31, 2023, compared to a loss of RMB 310,699,000 in 2022, indicating a deterioration in performance[34]. - The net loss attributable to the company's owners for 2023 was RMB 6,488,010,000, slightly higher than the loss of RMB 6,071,227,000 in 2022, representing an increase of about 6.9%[42]. Revenue Breakdown - Total revenue for the year ended December 31, 2023, reached RMB 15,595,035,000, a significant increase from RMB 9,561,219,000 in 2022, representing a growth of approximately 63.5%[34]. - Property development revenue was RMB 13,246,488,000, accounting for 84.8% of total revenue, compared to RMB 7,361,634,000 in 2022, which was 77.0% of total revenue[34]. - The revenue from property management services was RMB 2,074,354,000, which is a slight increase from RMB 1,948,778,000 in 2022, showing stability in this segment[34]. - The hotel operation revenue was RMB 145,262,000 in 2023, up from RMB 117,774,000 in 2022, indicating growth in hospitality services[34]. Expenses and Costs - The company's sales and distribution expenses decreased to approximately RMB 950 million, down about 56.5% from RMB 2.19 billion last year[5]. - The company's financing costs increased to approximately RMB 2.87 billion, compared to RMB 2.24 billion in the previous year[5]. - The total income tax expense for 2023 was RMB 1,330,514,000, compared to RMB 444,967,000 in 2022, indicating a significant increase of approximately 198.5%[40]. - The company's financing costs for 2023 amounted to RMB 5,307,702,000, an increase from RMB 5,186,447,000 in 2022, reflecting a rise of approximately 2.33%[39]. - Administrative expenses fell by 22.4% from approximately RMB 921 million in 2022 to approximately RMB 715 million in 2023, mainly due to reduced operational and employee costs[85]. Assets and Liabilities - The company's total assets decreased to approximately RMB 77.72 billion from RMB 95.03 billion in the previous year[9]. - The company's current liabilities amounted to approximately RMB 66.41 billion, down from RMB 84.62 billion in the previous year[10]. - The group has defaulted on interest-bearing liabilities totaling approximately RMB 37,420,916,000 as of December 31, 2023[16]. - The group reported a significant liquidity issue, with current liabilities amounting to RMB 66,412,141,000 as of December 31, 2023[53]. - The company has defaulted on interest-bearing liabilities totaling approximately RMB 33,917,812,000 as of December 31, 2023, indicating serious financial distress[55]. Strategic Initiatives - The board has appointed a financial advisor for overseas debt restructuring and is in constructive discussions with lenders to extend certain borrowings[17]. - The group plans to accelerate the pre-sale and sale of properties to improve cash flow and recover outstanding receivables[17]. - The group is actively seeking new financing sources and considering asset sales to meet upcoming financial obligations[17]. - The company has signed a restructuring support agreement with its offshore creditors on January 13, 2023, aimed at enhancing its capital structure and managing business operations more effectively[99]. - The company has revised repayment arrangements for approximately RMB 7 billion in principal and related interest, extending the maturity dates from 2023 to 2028, which has been approved by bondholders[100]. Market Conditions and Risks - There is significant uncertainty regarding the group's ability to continue as a going concern due to market volatility and reliance on creditor support[18]. - The company is facing multiple uncertainties regarding its ability to continue as a going concern, dependent on successful debt restructuring and operational strategies[56]. Corporate Governance - The company has adhered to all provisions of the corporate governance code as of December 31, 2023[106]. - The annual results for the year ending December 31, 2023, have been reviewed by the audit committee consisting of three independent non-executive directors[112]. - The company will hold its annual general meeting on May 13, 2024, with a suspension of share transfer registration from May 6 to May 13, 2024[109]. - The roles of the chairman and CEO have been separated, with a new chairman appointed on September 25, 2023[106].

Financial Performance - The group's revenue for the year ended December 31, 2023, was approximately RMB 15.844 billion, representing a growth of about 62.4% compared to the previous year[24]. - The loss attributable to the company's owners for the year was approximately RMB 6.488 billion[24]. - The group reported a gross profit of RMB 2.472 billion, up from RMB 1.727 billion in the previous year[25]. - The company reported a net loss of RMB 6,432,595,000 for the year ended December 31, 2023[32]. - The company faced a net loss of RMB 6.488 billion in 2023, compared to a loss of RMB 6.071 billion in 2022[86]. - The company recognized a net foreign exchange loss of RMB (618,707,000), a significant improvement from RMB (2,603,380,000) in the previous year[58]. - The company reported a significant increase in the cost of sold properties, which rose to RMB 11.52 billion in 2023 from RMB 6.69 billion in 2022[85]. - Gross profit increased by 43.1% from approximately RMB 1.727 billion in 2022 to approximately RMB 2.472 billion in 2023, with a slight decline in gross margin from 17.7% in 2022 to 15.6% in 2023 due to increased land and construction costs[140]. Assets and Liabilities - As of December 31, 2023, the group had interest-bearing liabilities totaling approximately RMB 37.421 billion, with a default on certain debts[14]. - Current liabilities amounted to RMB 66,412,141,000, a decrease from RMB 84,616,685,000 in 2022[28]. - The company's total assets decreased from RMB 95,030,738,000 in 2022 to RMB 77,720,094,000 in 2023[28]. - Non-current assets decreased from RMB 23,892,497,000 in 2022 to RMB 17,996,225,000 in 2023[27]. - The net asset value of the company was reported as negative RMB 2,024,612,000 as of December 31, 2023[28]. - The company’s net current liabilities were RMB 6,688,272,000 as of December 31, 2023[69]. - The company has not repaid approximately RMB 33,917,812,000 of certain interest-bearing liabilities by the scheduled repayment date[70]. Revenue Breakdown - Total revenue for the year ended December 31, 2023, was RMB 15,932,501,000, with property development contributing RMB 13,246,488,000[57]. - Revenue from property development for 2023 was approximately RMB 13.246 billion, a 79.9% increase from RMB 7.362 billion in 2022, attributed to an increase in completed property area delivered during the year[110]. - The property management services generated revenue of RMB 2,074,354,000, while value-added services contributed RMB 82,870,000[52]. - Hotel operations revenue amounted to RMB 145,262,000, with hotel accommodation services generating RMB 117,774,000[52]. - Revenue from property agency services was RMB 9,564,000 for the year ended December 31, 2023[52]. - The company reported a total of RMB 9,561,219,000 in revenue from various services, including property management and engineering services[39]. Expenses and Costs - Sales and distribution expenses, as well as administrative expenses, amounted to approximately RMB 810 million, a decrease of about 28.9% compared to the previous year[24]. - Financing costs for the year were RMB 2.873 billion, an increase from RMB 2.241 billion in the previous year[25]. - The company's financing costs for 2023 were approximately RMB 2.873 billion, an increase of 28.2% from RMB 2.241 billion in 2022, mainly due to a decrease in capitalized interest from ongoing projects[116]. - The company's income tax expense for 2023 was approximately RMB 1.331 billion, a significant increase of 199.1% from RMB 445 million in 2022, primarily due to the impact of gross profit during the period[117]. - Total employee costs for 2023 were RMB 796.425 million, a significant decrease from RMB 1.578 billion in 2022[85]. - Selling and distribution expenses decreased by 56.6% to approximately RMB 95 million in 2023 from approximately RMB 219 million in 2022, primarily due to reduced advertising costs for pre-sale properties[142]. Project and Land Reserves - As of December 31, 2023, the group's land reserve for projects under construction and pending construction was approximately 7,745,244 square meters[24]. - The company has 16 ongoing projects with a total construction area of 1,823,336 square meters[106]. - The company has 14 projects in the planning stage, totaling 5,921,908 square meters of construction area[107]. - The total land reserve for ongoing and planned projects, excluding sold projects, is approximately 7,745,244 square meters[108]. Strategic Initiatives - The board has implemented measures to accelerate the pre-sale and sale of properties to alleviate liquidity pressure[15]. - The company is actively seeking new financing sources and accelerating asset sales to meet upcoming financial obligations[34]. - The company plans to continue seeking opportunities to sell equity in several project development companies to generate additional cash flow[34]. - The company is focusing on improving liquidity and financial conditions through various measures, including potential debt restructuring and accelerating property sales[95]. - The company is actively working on a debt restructuring plan to address liquidity pressures and improve credit status, with a restructuring support agreement signed on January 13, 2023[170]. Management and Governance - The company appointed Cheng Jianli as the executive director and chairman of the board, effective September 25, 2023, following the resignation of Pan Jun as executive director and CEO[174]. - The annual results for the year ending December 31, 2023, were reviewed by an audit committee consisting of three independent non-executive directors[179]. - The company has not recommended the payment of a final dividend for the year[24].

Sales Performance - In the first half of 2023, the company achieved a contract sales amount of approximately RMB 1.612 billion, with a total sales area of 252,646 square meters[9]. - Residential sales accounted for RMB 1.519 billion, representing 94.2% of total sales amount, while urban complexes contributed RMB 93 million, or 5.8%[11]. - The Guangdong-Hong Kong-Macao Greater Bay Area contributed RMB 543 million in contract sales, accounting for 33.7% of total sales[12]. - The Chengdu-Chongqing Economic Circle generated RMB 406 million in contract sales, representing 25.2% of total sales[14]. - The Central China Urban Circle achieved RMB 105 million in contract sales, making up 6.5% of total sales[15]. - The Yangtze River Delta Urban Circle recorded RMB 113 million in contract sales, which is 7.0% of total sales[16]. - The Bohai Economic Rim contributed RMB 445 million in contract sales, accounting for 27.6% of total sales[17]. Financial Performance - The group's revenue reached approximately RMB 4.02 billion, an increase of 13.3% compared to RMB 3.55 billion in the same period of 2022[30]. - Property development revenue was approximately RMB 2.72 billion, an increase of 11.2% from RMB 2.45 billion in the same period of 2022, attributed to a rise in average selling prices[31]. - The average selling price of properties sold during the first half of 2023 was RMB 21,449 per square meter, compared to RMB 21,208 per square meter in the same period of 2022[32]. - Gross profit for the six months ended June 30, 2023, was approximately RMB 576 million, a 0.6% increase from RMB 572 million in the same period of 2022, with a gross margin of 14.3%, down from 16.1% in 2022, mainly due to longer property development cycles and higher development costs[37]. - The company's net loss attributable to owners for the six months ended June 30, 2023, was approximately RMB 2.71 billion, an improvement from a net loss of RMB 3.34 billion in the same period of 2022[43]. Asset and Liability Management - Cash and cash equivalents as of June 30, 2023, totaled approximately RMB 2.33 billion, a decrease of 13.2% from RMB 2.68 billion as of December 31, 2022, due to tightening liquidity in the real estate sector since the second half of 2021[44]. - The net debt ratio increased to 3,393.9% as of June 30, 2023, up 2,165 percentage points from 1,228.9% as of December 31, 2022, primarily due to significant losses since 2021 leading to a substantial decrease in total equity[45]. - Total borrowings, including senior notes and bonds, amounted to approximately RMB 198.42 billion as of June 30, 2023, compared to RMB 197.01 billion as of December 31, 2022[46]. - The company has defaulted on interest-bearing liabilities totaling approximately RMB 30,942,446,000 as of June 30, 2023[79]. - The company has entered into a restructuring support agreement with its offshore creditors on January 13, 2023, to enhance its capital structure[76]. Project Development - The group completed a total of 11 projects during the reporting period, with a total construction area of approximately 1,326,638 square meters[18]. - As of June 30, 2023, the group has 22 projects under construction, totaling a construction area of 2,682,535 square meters[20]. - The group has 15 projects in the planning stage, with a total construction area of 6,155,819 square meters as of June 30, 2023[21]. - The total land reserve area for both ongoing and planned projects, after deducting sold projects, is approximately 8,838,354 square meters[22]. Corporate Governance - The company has complied with all provisions of the Corporate Governance Code as of June 30, 2023[67]. - The Audit Committee consists of three independent non-executive directors, ensuring oversight of accounting policies and financial reporting[68]. - The company emphasizes the importance of transparency and accountability to shareholders through high standards of corporate governance[66]. - The company has maintained a clear separation of roles between the Chairman and the CEO, despite the current dual role held by Mr. Pan[66]. Future Outlook and Strategy - The company aims to expand its strategic depth in various urban circles, enhancing its market influence in key regions[10]. - The company plans to improve its capital structure and focus on risk control to better respond to market and policy changes[28]. - The company plans to accelerate the pre-sale and sale of properties to improve cash flow and recover outstanding receivables[97]. - The company is actively seeking new financing sources and considering asset sales to meet upcoming financial obligations[97]. Revenue Segmentation - Revenue from property management services was RMB 1,037,916,000, which is a significant increase from RMB 954,431,000 in the previous year, indicating a growth of approximately 8.7%[101]. - Revenue from property investment was RMB 101,642,000, which is an increase from RMB 97,434,000 in the previous year, reflecting a growth of approximately 4.5%[104]. - The hotel operation segment generated revenue of RMB 24,091,000, slightly up from RMB 23,612,000 in the previous year, reflecting a growth of approximately 2.0%[104]. Cash Flow and Expenses - The net cash used in operating activities for the first half of 2023 was RMB 720,719 thousand, a significant increase from RMB 454,157 thousand in the same period of 2022, reflecting a 58% increase in cash outflow[91]. - The company recorded a net cash inflow from investing activities of RMB 729,047 thousand for the six months ended June 30, 2023, compared to RMB 4,494,521 thousand in the prior year, showing a decrease of 84%[91]. - The company paid RMB 31,653 thousand in interest during the first half of 2023, down from RMB 143,831 thousand in the same period of 2022, reflecting a 78% decrease in interest payments[91].

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，並表明概不就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。 Fantasia Holdings Group Co., Limited 花 樣 年 控 股 集 團 有 限 公司 （於開曼群島註冊成立之有限公司） 1777 （股份代號： ） (1) 2023 6 30 截至 年 月 日止六個月 未經審核中期業績公告； (2)2022 年年度業績之澄清； 及 (3) 2023 9 8 將於 年 月 日舉行之股東特別大會適用之 代表委任表格之澄清 財務摘要 – 40.20 13.3% 本集團收入約為人民幣 億元，較去年同期增長約 。 – 27.08 ...

Financial Performance - In 2022, the company recorded revenue of approximately RMB 9.754 billion, a decrease of 38.07% compared to the previous year[17]. - The net loss for the year was approximately RMB 5.980 billion, a reduction of 44.83% from the previous year[17]. - The company’s basic earnings per share for 2022 were a loss of RMB 1.0517, compared to a loss of RMB 18.130 in 2021[8]. - The company's total revenue for the year ended December 31, 2022, was approximately RMB 9.754 billion, a decrease of 38.1% from RMB 15.750 billion in 2021[50]. - Property development revenue for 2022 was approximately RMB 7.362 billion, down 34.6% from RMB 11.260 billion in 2021, primarily due to a decrease in the area of completed properties delivered[51]. - Gross profit decreased by 26.1% to approximately RMB 1.727 billion in 2022, with a gross margin of 17.7%, up from 14.8% in 2021, attributed to lower land costs for delivered properties[58]. - The group recorded a net loss attributable to owners of approximately RMB 6.071 billion in 2022, down from a loss of RMB 10.466 billion in 2021, reflecting a significant improvement[65]. - Other net losses amounted to approximately RMB 2.744 billion in 2022, compared to a net gain of RMB 739 million in 2021, primarily due to foreign exchange losses from USD-denominated senior notes[59]. Assets and Liabilities - The total assets as of 2022 amounted to RMB 95.031 billion, down from RMB 105.109 billion in 2021[8]. - The total liabilities were RMB 90.455 billion in 2022, compared to RMB 94.456 billion in 2021[8]. - Cash and cash equivalents totaled approximately RMB 2.684 billion as of December 31, 2022, a decrease of 48.4% from RMB 5.206 billion in 2021, due to tightening liquidity in the Chinese real estate sector[66]. - The net debt-to-equity ratio increased to 1,228.9% as of December 31, 2022, up 735.7 percentage points from 493.2% in 2021, primarily due to losses leading to a significant reduction in total equity[67]. - The group had total borrowings, senior notes, and bonds of approximately RMB 39.958 billion as of December 31, 2022, compared to RMB 33.007 billion in 2021[68]. Sales and Market Performance - The company achieved a total contract sales amount of approximately RMB 2.875 billion in 2022, with a total sales area of 350,932 square meters[31]. - Residential contract sales accounted for approximately RMB 2.617 billion, representing 91.0% of the total contract sales amount, with a sales area of 329,309 square meters, which is 93.8% of the total area[32]. - The company reported contract sales in the Guangdong-Hong Kong-Macao Greater Bay Area amounting to RMB 319 million, accounting for 11.1% of total sales[37]. - The Chengdu-Chongqing Economic Circle contributed RMB 994 million, representing 34.5% of total contract sales[36]. - The company is navigating a challenging economic environment marked by rising interest rates and market uncertainties[18]. Cost Management and Expenses - Sales and distribution expenses decreased by 53.0% to approximately RMB 219 million in 2022 from RMB 466 million in 2021, mainly due to reduced advertising costs for pre-sale property projects[60]. - Administrative expenses fell by 47.8% to approximately RMB 921 million in 2022 from RMB 1.764 billion in 2021, primarily due to a reduction in employee costs[61]. - Financing costs decreased by 21.9% to approximately RMB 2.241 billion in 2022 from RMB 2.870 billion in 2021, attributed to a reduction in interest-bearing liabilities[62]. Corporate Governance and Management - The company has a diverse board with members holding significant experience in investment banking and real estate sectors, enhancing its strategic decision-making capabilities[86]. - The independent non-executive directors bring over 13 years of investment banking experience, contributing to the company's governance and oversight[86]. - The company is committed to maintaining high standards of corporate governance through its independent board members and committees[86]. - The board of directors is responsible for leading and controlling the company, ensuring timely access to all relevant information related to the group's business and affairs[171]. - The audit committee is responsible for reviewing and supervising the company's financial reporting and internal control functions[183]. Future Plans and Strategies - The company is committed to exploring new business markets such as urban renewal and commercial management to capture opportunities in the evolving market[27]. - The company aims to maintain resilience and diversify its development capabilities to navigate future challenges and opportunities in the real estate sector[28]. - The company plans to actively respond to government policies aimed at stabilizing the real estate market, including urban village renovations and old community upgrades[27]. - The company has been committed to enhancing sustainable development strategies, with details available in the separately published ESG report[100]. Shareholder Information - The board did not recommend the payment of a final dividend for the year ended December 31, 2022[75]. - The company has adopted a dividend policy intending to declare dividends annually to shareholders, considering distributable profits, financial condition, liquidity, investment needs, and future development[155]. - As of December 31, 2022, the company had issued a total of 5,772,597,864 shares[111]. - Ms. Zeng Baobao holds 3,314,090,500 shares, representing 57.41% of the company's equity[110]. Compliance and Legal Matters - The company has adhered to compliance procedures to ensure compliance with applicable laws and regulations impacting its operations[159]. - Legal advisors confirmed that the contractual arrangements do not violate any applicable Chinese laws and regulations[139]. - The company has confirmed no related party transactions that constitute disclosable transactions under the listing rules, aside from those disclosed in the financial statements[151].

Sales Performance - The company achieved a contract sales amount of approximately RMB 1.72 billion and a sales area of 204,628 square meters for the first half of 2022[7]. - Residential properties accounted for 90.8% of the total contract sales amount, totaling RMB 1.56 billion, and 94.4% of the sales area, totaling 193,207 square meters[9]. - The Chengdu-Chongqing Economic Circle contributed RMB 579 million in contract sales, representing 33.7% of the total sales amount, with a sales area of 90,153 square meters, accounting for 44.1% of the total area[13]. - The Yangtze River Delta Economic Circle generated RMB 740 million in contract sales, making up 43.0% of the total sales amount, with a sales area of 42,679 square meters, which is 20.9% of the total area[15]. - The company completed 7 projects during the reporting period, with a total construction area of approximately 789,037 square meters[18]. - In the Beijing-Tianjin-Hebei Economic Circle, the company achieved contract sales of RMB 208 million, which is 12.1% of the total sales amount, with a sales area of 41,170 square meters, accounting for 20.1% of the total area[17]. - The company actively promoted project delivery and sales in the Guangdong-Hong Kong-Macao Greater Bay Area, achieving contract sales of RMB 74 million, which is 4.3% of the total sales amount[12]. - The company is focusing on strategic expansion in key cities within various economic circles, including the Greater Bay Area and the Chengdu-Chongqing Economic Circle[8]. - The company continues to explore new product development and market expansion opportunities in high-potential regions[12]. Financial Performance - The company's revenue for the six months ended June 30, 2022, was approximately RMB 3,548 million, a decrease of 67.6% compared to RMB 10,952 million for the same period in 2021[29]. - The company reported a loss attributable to shareholders of approximately RMB 3,343 million for the six months ended June 30, 2022, compared to a profit of RMB 153 million for the same period in 2021[29]. - Property development revenue for the six months ended June 30, 2022, was approximately RMB 2,446 million, a decrease of 70.7% from RMB 8,354 million in the same period of 2021[32]. - Revenue from property investment for the six months ended June 30, 2022, was approximately RMB 97 million, down 34.3% from RMB 148 million in the same period of 2021[34]. - Revenue from property management services decreased by 56.4% to approximately RMB 972 million for the six months ended June 30, 2022, compared to RMB 2,229 million in the same period of 2021[35]. - Revenue from hotel operations and related services was approximately RMB 24 million for the six months ended June 30, 2022, a decrease of 41.5% from RMB 40 million in the same period of 2021[36]. - The company's gross profit for the six months ended June 30, 2022, was approximately RMB 572 million, a decline of 74.9% from RMB 2,277 million in the same period of 2021[37]. - The gross profit margin for the six months ended June 30, 2022, was approximately 16.1%, down from 20.8% in the same period of 2021[37]. - The group recorded a net loss of approximately RMB 3,343 million attributable to owners for the six months ended June 30, 2022, compared to a profit of approximately RMB 153 million for the same period in 2021, reflecting a significant decline in performance[44]. - Other net losses amounted to approximately RMB 1,412 million for the six months ended June 30, 2022, compared to other net income of approximately RMB 545 million in the same period of 2021, primarily due to net exchange losses from USD-denominated notes and borrowings[38]. Cash Flow and Liquidity - As of June 30, 2022, the group's cash and bank balances totaled approximately RMB 3,313 million, a decrease of 36.4% from RMB 5,206 million as of December 31, 2021, attributed to a tightening liquidity environment in the Chinese real estate sector[45]. - The net debt ratio increased to 745.2% as of June 30, 2022, up 252.0 percentage points from 493.2% as of December 31, 2021, primarily due to losses incurred since 2021 leading to a significant reduction in total equity[46]. - The company reported a net cash outflow from operating activities of RMB 454,157,000 for the six months ended June 30, 2022, compared to RMB 4,299,698,000 for the same period in 2021, indicating a significant improvement[91]. - The net cash inflow from investing activities was RMB 4,494,521,000 for the six months ended June 30, 2022, compared to RMB 2,335,199,000 in the previous year, reflecting a positive trend in investment returns[91]. - The cash and cash equivalents decreased to RMB 806,715,000 as of June 30, 2022, down from RMB 27,177,862,000 at the beginning of the year, indicating a liquidity challenge[92]. - The company is actively seeking new financing sources and accelerating asset sales to address upcoming financial responsibilities and future cash flow needs[96]. - The company plans to expedite the pre-sale and sale of properties to improve cash flow and recover outstanding sales proceeds and receivables[96]. - The company has appointed a financial advisor for offshore debt restructuring and is in constructive discussions with lenders regarding loan extensions[96]. - The company aims to control administrative costs and avoid unnecessary capital expenditures to maintain liquidity[96]. Corporate Governance - The company has complied with all corporate governance code provisions as of June 30, 2022[71]. - The audit committee consists of three independent non-executive directors, ensuring oversight of accounting policies and financial reporting[72]. - The company has maintained high standards of corporate governance to ensure management integrity and protect shareholder interests[70]. - The company has established a Compensation Committee in compliance with listing rules, consisting of one executive director and three independent non-executive directors[73]. - The Nomination Committee is responsible for reviewing the board structure and recommending suitable candidates, comprising two executive directors and three independent non-executive directors[76]. - The company confirmed that all directors complied with the standard code of conduct for securities transactions during the six months ended June 30, 2022[77]. - The company has established a formal procedure for setting remuneration policies to ensure transparency[73]. Shareholder Information - As of June 30, 2022, Fantasy Pearl holds 3,314,090,500 shares, representing 57.41% of the company's equity[67]. - As of June 30, 2022, TCL Industrial Holdings Limited owns 1,012,740,000 shares, accounting for 17.54% of the company's equity[68]. - As of June 30, 2022, Ms. Zeng Baobao holds 1,013,643,318 shares in Color Life Services Group, which is 68.14% of the equity[62]. - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2022[53]. Asset and Liability Management - The company's total assets as of June 30, 2022, were RMB 99,035,884 thousand, a decrease from RMB 105,109,472 thousand as of December 31, 2021[87]. - Current liabilities increased to RMB 86,005,432 thousand from RMB 82,652,480 thousand year-on-year[87]. - The company's net asset value decreased to RMB 7,118,883 thousand as of June 30, 2022, down from RMB 10,653,461 thousand at the end of 2021[87]. - The company’s total liabilities, including current and non-current, were reported at RMB 36,177,242,000 as of June 30, 2022, reflecting a substantial increase in financial obligations[139]. - The company’s total outstanding preferred notes and bonds increased to RMB 36,177,242,000 as of June 30, 2022, from RMB 33,007,450,000 as of December 31, 2021, reflecting an increase of approximately 6.6%[139]. - The company’s expected credit losses on receivables were assessed as not significant, indicating a positive outlook on credit risk management[131]. Impairment and Losses - The company reported a significant impairment loss of RMB 1,432,427 thousand in other gains and losses for the six months ended June 30, 2022[84]. - The group recognized an impairment loss of RMB 248,557,000 on properties held for sale due to adverse market conditions[112]. - The company reported a significant increase in impairment losses for receivables, totaling RMB 98,083,000 for the six months ended June 30, 2022, compared to RMB 16,959,000 in the same period of 2021, reflecting a year-over-year increase of approximately 478%[131]. Market Conditions and Future Outlook - The company continues to focus on property management and development as key areas for future growth despite the current financial challenges[102]. - The company applied new Hong Kong Financial Reporting Standards effective from January 1, 2022, which did not have a significant impact on the financial position and performance for the current and prior periods[98]. - The total revenue for the six months ended June 30, 2022, was significantly impacted by a decrease in property sales compared to the previous year[101].

Financial Performance - Total assets for 2021 amounted to RMB 105,109,472 thousand, a slight decrease from RMB 105,550,206 thousand in 2020[8]. - Revenue for 2021 was RMB 15,750,413 thousand, down from RMB 21,758,844 thousand in 2020, representing a decline of approximately 27.6%[8]. - The company reported a loss attributable to shareholders of RMB (10,465,578) thousand in 2021, compared to a profit of RMB 977,420 thousand in 2020[8]. - Gross profit for 2021 was RMB 2,337,152 thousand, significantly lower than RMB 5,344,169 thousand in 2020, indicating a decline of about 56.3%[8]. - Basic earnings per share for 2021 were RMB (181.30), a decrease from RMB 16.94 in 2020[8]. - Total liabilities increased to RMB 94,456,011 thousand in 2021 from RMB 81,226,564 thousand in 2020, marking an increase of approximately 16.5%[8]. - The group recorded a net other income of approximately RMB 739 million in 2021, down from RMB 2.70 billion in 2020, primarily due to foreign exchange gains and buyback/redemption gains[73]. - Impairment losses under the expected credit loss model increased to approximately RMB 1.24 billion in 2021 from RMB 99 million in 2020, mainly due to increased impairment losses on receivables[74]. - The group recognized a provision for impairment losses on properties held for sale amounting to RMB 6.216 billion in 2021, due to a sudden decline in the property market and buyer sentiment in the second half of the year[75]. - Cash and cash equivalents decreased by 81.8% to approximately RMB 5.206 billion as of December 31, 2021, from RMB 28.631 billion as of December 31, 2020, due to tightened liquidity in the Chinese real estate sector[83]. - The net debt ratio increased to 493.2% as of December 31, 2021, up 418.2 basis points from 75.0% as of December 31, 2020[84]. Market and Strategic Outlook - The company aims to expand its market presence and enhance product offerings in the coming years[12]. - Future guidance indicates a focus on strategic acquisitions to bolster growth and market share[12]. - The company aims to diversify its product offerings to meet changing consumer demands and enhance revenue opportunities[34]. - The company emphasizes the importance of risk control and maintaining a long-term perspective for successful investments[38]. - The company is undergoing a debt restructuring process to address liquidity issues and optimize its capital structure[37]. - The future real estate market is expected to require greater resilience and adaptability from companies[33]. - The company is investing $50 million in research and development for new technologies aimed at improving service delivery[104]. - The company plans to continue its market expansion and product development strategies in the upcoming fiscal year[160]. Operational Highlights - The company achieved a total contract sales amount of approximately RMB 46.594 billion, with a total sales area of 2,979,794 square meters in 2021[40]. - The company commenced 15 new projects during the reporting period, with a total planned construction area of approximately 1,672,904 square meters[50][58]. - As of December 31, 2021, the company had 39 ongoing projects with a total construction area of 6,264,596 square meters[52]. - The company had land reserves of approximately 12,749,702 square meters across ongoing and planned projects as of December 31, 2021[55]. - The company’s subsidiary, Color Life Services Group, focuses on property management and community services, enhancing the living experience for residents through internet technology[57]. Shareholder and Governance - The company expresses gratitude to shareholders, bondholders, and business partners for their trust and support[38]. - The board did not recommend the payment of a final dividend for the year ended December 31, 2021[99]. - The company has appointed independent non-executive directors with extensive experience in finance and corporate governance, enhancing its board composition[113]. - The company’s management team has significant experience in real estate development and financial management, contributing to its operational effectiveness[115][116][117][118]. - The company’s board of directors saw changes with Mr. Pan Jun indicating his intention to retire and not seek re-election[131]. Debt and Financing - The company is working on an offshore debt restructuring plan to alleviate liquidity pressure and enhance credit status, with a restructuring support agreement signed on January 13, 2023[200]. - The company has issued five corporate bonds in China, with a revised repayment arrangement for a total of approximately RMB 7 billion, extending the maturity to 2023-2028[200]. - The company completed a cash offer to purchase $141,209,000 of its 8.375% senior notes due in 2021, representing approximately 29.39% of the total outstanding amount[155]. - The company entered into a share transfer agreement for the sale of shares at a total consideration of RMB 3.3 billion, with an initial payment of RMB 2.3 billion already made[200]. Regulatory and Compliance - The company is subject to the Securities and Futures Ordinance, which affects the reporting of equity interests held by its directors and major executives[146]. - The company has received annual confirmations regarding the independence of all independent non-executive directors, affirming compliance with listing rules[166]. - The company confirmed that certain related party transactions did not constitute discloseable transactions under the listing rules[187]. Employee and Compensation - The total employee cost for the year ended December 31, 2021, was approximately RMB 2.644 billion, compared to RMB 2.503 billion in 2020[98]. - The company’s executive compensation for the year ended December 31, 2021, included 9 individuals earning up to HKD 1,000,000, 17 individuals earning between HKD 1,000,001 and HKD 2,000,000, and 8 individuals earning between HKD 2,000,001 and HKD 3,000,000[134]. - The company has a dividend policy that considers distributable profits, financial condition, liquidity, investment needs, and future development when declaring dividends[192].

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，並表明概不就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。 Fantasia Holdings Group Co., Limited 花 樣 年 控 股 集 團 有 限 公司 （於開曼群島註冊成立之有限公司） 1777 （股份代號： ） (1)2022 年年度業績公告 (2) 達成復牌指引 (3) 恢復買賣 財務摘要 2022 12 31 截至 年 月 日止年度： – 97.54 59.81 本集團總收入約為人民幣 億元，錄得淨虧損約人民幣 億元。 – 60.71 本公司擁有人應佔虧損約為人民幣 億元。 ...

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，並表明概不就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。 Fantasia Holdings Group Co., Limited 花 樣 年 控 股 集 團 有 限 公司 （於開曼群島註冊成立之有限公司） 1777 （股份代號： ） 2022 6 30 截至 年 月 日止六個月 未經審核中期業績公告 財務摘要 35.48 － 本集團期內收入約為人民幣 億元。 33.36 － 本集團期內淨虧損約為人民幣 億元。 33.43 － 本集團期內歸屬於本公司擁有人的淨虧損約為人民幣 億元。 2022 6 30 ...