Company Overview - The Company has been listed on the Hong Kong Stock Exchange since February 2010, under stock code 1966[3]. - The Group's headquarters is located in Shanghai, which serves as the operational hub for its business activities[3]. - The Group's mission is to "Create Smart Living to Help Seize Happiness," emphasizing its commitment to innovative property solutions[5]. - The Company aims to deepen its strategic plan of "One Body Two Wings" to secure a leading regional position through proactive and prudent development strategies[6]. Property Development and Strategy - The Group's property projects are distributed across 67 cities, including major locations such as Beijing, Shanghai, and Shenzhen[5]. - The Company focuses on key economic zones including the Yangtze River Delta and the Guangdong-Hong Kong-Macao Greater Bay Area for its development strategy[3]. - The Group aims to optimize its land bank structure while focusing on first-tier and second-tier core cities[67]. - The strategy of "One Body Two Wings" focuses on property development, SCE Funworld shopping malls, and Funlive long-term rental apartments[67]. - The group is adapting to the "Centralised Land Supply" policy, which has increased land supply quality and prices in key cities[67]. Financial Performance - For the six months ended June 30, 2021, the company achieved a revenue of approximately RMB20,386.6 million, representing a year-on-year increase of 34.7% compared to RMB15,135.2 million in the same period of 2020[22]. - The gross profit for the same period was RMB5,109.8 million, reflecting a growth of 20.9% from RMB4,224.9 million in the prior year[22]. - The profit attributable to owners of the parent was RMB2,710.9 million, which is a 7.7% increase from RMB2,516.6 million year-on-year[22]. - The contracted sales amount reached approximately RMB59.051 billion, marking a significant year-on-year growth of 47.3%[35]. - The average selling price of properties during the period was RMB15,931 per sq.m., an increase of 8.5% compared to the same period last year[35]. Assets and Liabilities - The total assets as of June 30, 2021, were RMB178,209.4 million, a 4.5% increase from RMB170,614.4 million at the end of 2020[23]. - The total debts increased to RMB50,554.0 million, up 8.6% from RMB46,562.9 million at the end of 2020[23]. - The Group maintained a liability to asset ratio (excluding contract liabilities) of 69.5%, which is considered healthy within the industry[79]. - As of June 30, 2021, the net gearing ratio was 77.9%, an increase from 59.2% as of December 31, 2020[145][147]. Sales and Market Performance - The Group recognized property sales income of approximately RMB 19.708 billion, representing a year-on-year increase of 34.2%[57]. - The total contracted sales area reached 3,706,741 sq.m., with a total contracted sales amount of RMB 59,051 million[44]. - Xiamen, Fuzhou, and Suzhou were the top-performing second-tier cities, contributing RMB 15.412 billion, RMB 3.447 billion, and RMB 3.617 billion in contracted sales, respectively[52]. - The Yangtze River Delta Economic Zone accounted for 54.7% of the total sales income, with 855,193 sq.m. sold and RMB 10,779 million in income[62]. Investment and Financing - The group added 19 projects across 16 cities in the first half of 2021, with a total land cost of approximately RMB 31.425 billion, of which RMB 26.251 billion is attributable to the group[67]. - The average financing cost was 6.3%, a slight decrease compared to the same period last year[79]. - The Group successfully issued offshore senior notes totaling US$650 million with coupon rates of 6% and 5.95% in February and March 2021 respectively[78]. - The Group's capital commitments for properties under development in Mainland China amounted to RMB22,385,546,000 as of June 30, 2021, compared to RMB19,423,718,000 as of December 31, 2020, reflecting an increase of approximately 15.1%[159]. Shareholder Information - Mr. Wong Chiu Yeung holds 2,113,000,000 shares, representing 50.05% of the Company's issued share capital, indicating significant ownership concentration[176]. - Mr. Chen Yuanlai holds a total of 250,230,000 shares, which is 5.93% of the Company's issued share capital, reflecting a notable stake in the Company[176]. - The company adopted a share option scheme on April 23, 2018, aimed at providing incentives to eligible participants contributing to the group's success[195]. - The 2018 share option scheme will remain in force for a period of 10 years, expiring on April 22, 2028[196].

Company Overview - The Company was recognized as one of the "2020 Best 40 China Real Estate Listed Companies with Strongest Comprehensive Strengths" and "2020 Best 50 of China Real Estate Developers"[8]. - China SCE aims to deepen its strategic plan of "One Body Two Wings" to secure a regional leading position through proactive and prudent development strategies[8]. - The Group's major businesses include property development, commercial management, property management, and long-term rental apartments[7]. - The Company operates in 62 cities, including major locations such as Beijing, Shanghai, and Shenzhen, covering various property types like high-rise residential buildings and shopping malls[8]. - The Company’s mission is "Creating Smart Living to Help Seize Happiness," emphasizing its commitment to innovative property solutions[8]. - China SCE was listed on the Hong Kong Stock Exchange in February 2010, with stock code 1966.HK[7]. - The Group's headquarters is located in Shanghai, focusing on regional development strategies in key economic zones[8]. - The Company has been awarded "Fortune China 500" in 2020, highlighting its significant market presence[8]. Financial Performance - For the year ended December 31, 2020, the Group recorded a revenue of approximately RMB32.573 billion, representing an increase of approximately 52.4% over last year[38]. - Profit attributable to owners of the parent amounted to approximately RMB3.803 billion, representing a growth of approximately 8.4% compared to last year[39]. - Basic earnings per share was approximately RMB90.6 cents, representing an increase of approximately 6.7% over last year[39]. - The Group's contracted sales amount reached approximately RMB101.537 billion, representing an increase of approximately 26.1% compared to last year[40]. - The contracted sales area was approximately 7.37 million sq.m., representing an increase of approximately 16.5% compared to last year[40]. - The total dividend payout ratio amounted to 30.8% of the core profit attributable to owners of the parent[39]. - Total assets increased to approximately RMB170.614 billion from RMB149.382 billion, reflecting a growth in the asset base[29]. - Total equity rose to approximately RMB39.153 billion, up from RMB30.286 billion, indicating improved financial stability[29]. Sales and Market Strategy - The Group's proactive strategies aim to enhance its competitiveness in the People's Republic of China real estate market[8]. - The Group adopted a flexible marketing strategy to mitigate the impact of Covid-19, with over 150 projects for sale across 54 cities, and 37 new projects launched during the year[46]. - The top six cities with the highest contracted sales accounted for approximately 45.6% of the Group's total contracted sales, with Beijing, Chongqing, Nanjing, Xiamen, Kunming, and Quanzhou leading[46]. - In 2020, the Group added 38 projects in cities including Shanghai, Chongqing, and Suzhou, with a total above-ground GFA of approximately 10.75 million sq.m. and aggregate land costs of approximately RMB 40.550 billion[51]. - The average land cost for new projects was approximately RMB 3,772 per sq.m., with the attributable land cost amounting to approximately RMB 32.281 billion[51]. - The Group focused on acquiring land at low prices in first-tier and second-tier cities, ensuring sales of residential units before land acquisition[51]. - The Group's strategy emphasizes investing in projects with certain profitability, avoiding risks associated with blindly pursuing high profits[51]. Debt and Financing - The Group utilized multiple financing sources to optimize its debt structure, achieving a long-term foreign-currency issuer default rating of "BB–" with a "Stable" outlook from Fitch[56]. - In January 2020, the Group issued additional offshore senior notes with an aggregate principal amount of US$150 million at a yield of 6.5%, consolidating with existing notes due in April 2024[56]. - The regulatory authorities introduced the "Three Red Lines" policy to control borrowing scales, which the Group believes will ensure the steady development of the real estate industry[47]. - The Group issued US$500 million senior notes due in May 2025 at a coupon rate of 7% and US$350 million senior notes due in February 2026 at a coupon rate of 6%[58]. - The Group's domestic corporate bonds issued in July 2020 amounted to RMB1.46 billion at a coupon rate of 5.5%, maturing in July 2024[58]. - The Group's bank and other borrowings amounted to RMB 46,562,876,000 as of December 31, 2020, compared to RMB 42,077,082,000 in 2019[182]. - The maturity profile of borrowings indicates a significant increase in third to fifth-year borrowings, rising to approximately RMB 10,177,554,000 in 2020 from RMB 4,761,871,000 in 2019[171]. Project Development and Sales - The Group launched 37 new projects across 54 cities, primarily in second-tier, third-tier, and fourth-tier cities in China[83]. - Contracted sales in second-tier cities reached approximately RMB 57.306 billion, contributing about 56.4% of total contracted sales[108]. - Contracted sales in third- and fourth-tier cities amounted to approximately RMB 34.913 billion, accounting for approximately 34.4% of total contracted sales[108]. - The total recognized property sales area was 3,248,928 sq.m., with total sales income of RMB 31.554 billion, indicating a diversified sales strategy across various city tiers[111]. - The Group achieved recognized property sales income of approximately RMB 31.554 billion, with a delivery area of approximately 3.25 million sq.m., representing year-on-year increases of approximately 54.3% and 77.0% respectively[107]. Operational Efficiency and Future Outlook - The Group is focused on optimizing human resources allocation and reforming the incentive mechanism to enhance project management and marketing capabilities[40]. - The Group will continue to explore five major regions, focusing on operational results and cash flow to enhance project operation efficiency[64]. - The management is optimistic about future growth, driven by strategic market expansions and new product developments in residential and commercial sectors[125]. - The Group plans to spin off its commercial management and residential property management businesses for listing in 2021, aiming for sustainable development in these segments[66].

Financial Performance - The total revenue for the first half of 2020 reached RMB 15,135,207 thousand, representing a 45.2% increase compared to RMB 10,422,829 thousand in the same period of 2019[13]. - Gross profit for the same period was RMB 4,224,949 thousand, up 40.3% from RMB 3,010,580 thousand year-on-year[13]. - The net profit attributable to shareholders was RMB 2,114,397 thousand, reflecting a 10.3% increase from RMB 1,916,809 thousand in the previous year[13]. - The company’s revenue increased by 45.2% from approximately RMB 10.42 billion in the first half of 2019 to approximately RMB 15.14 billion in the first half of 2020, primarily due to increased property sales revenue[52]. - Property sales revenue rose by 45.9% from approximately RMB 10.07 billion in the first half of 2019 to approximately RMB 14.69 billion in the first half of 2020, with a significant increase in the area sold, which grew by 109.3% to 1,974,545 square meters[53]. - Profit before tax increased to RMB 3,559,836 thousand, compared to RMB 3,241,636 thousand in the previous year, representing a 9.8% growth[123]. - Net profit for the period was RMB 2,516,639 thousand, an increase of 14.7% from RMB 2,194,020 thousand in 2019[125]. - Basic earnings per share rose to RMB 50.6 cents, compared to RMB 46.5 cents in the prior year, indicating a 6.6% increase[125]. Assets and Liabilities - The total assets as of June 30, 2020, amounted to RMB 161,582,295 thousand, an 8.2% increase from RMB 149,382,054 thousand at the end of 2019[14]. - The total debt increased to RMB 45,507,848 thousand, up 8.2% from RMB 42,077,082 thousand in the previous year[14]. - As of June 30, 2020, the net debt ratio was 68.3%, an increase from 60.0% on December 31, 2019[77]. - The total liabilities for the group were RMB 22,265,100,000 as of June 30, 2020, compared to RMB 20,816,826,000 as of December 31, 2019[188]. - The total capital commitments for properties under development in mainland China amounted to RMB 22,076,070,000, up from RMB 18,951,500,000 on December 31, 2019[82]. Cash Flow and Financing - The cash and bank deposits balance as of June 30, 2020, was RMB 24,981,810 thousand, a 4.5% increase from RMB 23,898,660 thousand at the end of 2019[14]. - The cash flow from operating activities for the period was RMB 1,286,932,000, showing a significant increase compared to the previous period[135]. - The net cash flow from financing activities was RMB 6,420,933 thousand, compared to RMB 11,376,237 thousand in the same period last year[140]. - The company reported a significant increase in cash generated from financing activities, primarily due to new bank loans totaling RMB 10,482,779 thousand[140]. - The company secured a total of HKD 3,172,100,000 and USD 9,000,000 in term loan financing under the March 2018 financing agreement to repay existing debts and for general corporate funding needs[107]. Sales and Market Performance - The group achieved contract sales amounting to approximately RMB 40.076 billion for the six months ended June 30, 2020, with a year-on-year increase of about 8.2%[20]. - The average property sales price during the period was RMB 14,680 per square meter, representing a year-on-year increase of 17.6%[20]. - The total area of contract sales was approximately 2.73 million square meters, with a decrease of 8.0% year-on-year[20]. - The sales revenue from tier-2 cities contributed approximately 60.7% of total sales, with a year-on-year increase of 56.6% to RMB 24.326 billion[31]. - The group launched 15 new projects during the first half of 2020, with over 100 projects on sale across 45 cities[24]. Corporate Governance - The company emphasizes high standards of corporate governance to enhance operational efficiency and protect shareholder interests[104]. - The Audit Committee, consisting of three independent non-executive directors, oversees the financial reporting system and risk management[105]. - The company has adhered to the Corporate Governance Code during the reporting period, ensuring compliance with listing rules[104]. - The Chairman and CEO roles are held by the same individual, which the board believes is beneficial during rapid business development[104]. Employee and Operational Metrics - The total employee count increased to 8,238 as of June 30, 2020, compared to 7,592 on December 31, 2019, with total employee costs approximately RMB 823,958,000[83]. - Employee benefits expenses rose significantly to RMB 728,600, compared to RMB 389,591 in the previous year[161]. Investment and Development - The company added a total of 10 new land projects across 8 cities in the first half of 2020, with a total land cost of approximately RMB 19.43 billion, of which the company's share was approximately RMB 15.35 billion[44]. - The company plans to launch a significant number of new projects in the second half of 2020, focusing on improving housing, with a sales target of RMB 93 billion for the year[47]. - The company plans to expand its market presence and invest in new product development to drive future growth[135].

Financial Performance - The company achieved revenue of approximately RMB 21.37 billion for the year ended December 31, 2019, representing a year-on-year growth of 20.2%[13] - The profit attributable to equity holders of the parent company was approximately RMB 3.51 billion, an increase of 3.7% compared to the previous year[18] - The gross profit margin for 2019 was approximately 27.6%[18] - The company's total revenue increased by approximately 20.2% from about RMB 17.78 billion in 2018 to approximately RMB 21.37 billion in 2019, primarily due to increased property sales revenue[58] - Property sales revenue rose by approximately 18.7% from about RMB 17.22 billion in 2018 to approximately RMB 20.45 billion in 2019, with the area sold increasing by about 72.0% to 1,835,458 square meters[59] - The average property sales price was approximately RMB 11,143 per square meter, showing a year-on-year decrease of about 31.0%[44] - Rental income surged by approximately 117.3% from about RMB 130.96 million in 2018 to approximately RMB 284.60 million in 2019, driven by increased rents from Shanghai Zhongjun Plaza and Nan'an World City shopping mall[60] - The company confirmed property sales revenue of approximately RMB 20.453 billion, with a delivered property area of about 1.84 million square meters, reflecting year-on-year growth of approximately 18.7% and 72.0% respectively[44] Assets and Liabilities - The total assets of the company as of December 31, 2019, amounted to RMB 149.38 billion, a 47.2% increase from the previous year[14] - Cash and bank deposits totaled RMB 23.90 billion, reflecting a year-on-year increase of 19.7%[14] - The total debt increased by 26.2% to RMB 42.08 billion compared to the previous year[14] - As of December 31, 2019, the net debt ratio was approximately 60.0%, a slight decrease from 60.4% on December 31, 2018[86] - The group provided financial guarantees for mortgage loans amounting to RMB 20,307,223,000 for property buyers as of December 31, 2019, compared to RMB 15,912,024,000 in 2018[90] Project Development - The company acquired 46 new projects across 32 cities in 2019, with a total planned construction area of approximately 9.8 million square meters, laying a solid foundation for a RMB 100 billion milestone in 2020[21] - The company has a total land reserve of approximately 32.09 million square meters, sufficient to support its development for the next three to four years[21] - The company has a total planned construction area of 2,000,000 square meters across various projects, with a significant portion in residential and commercial properties[114] - The company is expanding its market presence in the central and western regions of China, with multiple residential and commercial projects under development[116] Market Strategy - The company plans to continue its strategic focus on key economic regions in China, including the Yangtze River Delta and the Greater Bay Area[4] - The company aims to acquire quality integrated land at competitive prices during market lows to contribute to future saleable resources and profitability[26] - The company plans to continue leveraging its core business development model of "one body, two wings" in 2020, focusing on shopping centers and long-term rental apartments alongside real estate development[26] - The company is focused on expanding its market presence through new projects in cities like Hangzhou, Suzhou, and Chengdu[109] Corporate Governance - The management team emphasized a commitment to high standards of corporate governance to protect shareholder interests[134] - The board of directors confirmed compliance with the corporate governance code throughout the year[136] - The company has established a remuneration committee, chaired by an independent non-executive director, to oversee compensation matters[151] - The company has adopted a standard code for securities trading by directors, ensuring transparency and accountability[135] Employee and Social Responsibility - The total employee cost for the year was approximately RMB 1,379,796,000, an increase from RMB 1,057,833,000 in 2018, with the number of employees rising to 7,592 from 6,470[94] - The group has committed to environmental protection initiatives, including energy conservation and waste management, as part of its corporate social responsibility[97] - The company emphasizes that "human resources are the first resource" and focuses on "humane management" to enhance employee development and potential[101] Financial Outlook - The company provided a positive outlook for 2020, projecting a revenue growth of 10% to 12%[133] - New product launches are expected to contribute an additional 200 million in revenue in 2020[133] - The company anticipates that the overall financing environment will continue to improve, with loan rates expected to decrease further, benefiting the real estate industry[24] Investor Relations - The company emphasizes transparent communication with investors, providing timely updates on business progress through various channels[171] - Numerous investor meetings and non-deal roadshows were held throughout the year, enhancing industry awareness of the company[171] - The company maintains a dedicated email address for shareholder inquiries, ensuring effective communication[180]

Financial Performance - For the six months ended June 30, 2019, the group's revenue was approximately RMB 10,422.83 million, an increase from RMB 9,414.76 million in the same period of 2018, representing a growth of 10.7%[15] - The group's net profit for the period was RMB 2,194.02 million, compared to RMB 2,069.33 million in 2018, reflecting an increase of 6.0%[15] - The company declared an interim dividend of HKD 0.10 per share, up from HKD 0.07 per share in the previous year, representing a 42.9% increase[15] - The group achieved contract sales amounting to approximately RMB 37.028 billion for the six months ended June 30, 2019, representing year-on-year increases of approximately 77.9% and 80.3% in sales area and sales amount respectively[23] - The average property sales price during the period was RMB 12,481 per square meter, with a total sales area of approximately 2.966 million square meters[23] - The group confirmed property sales revenue of approximately RMB 10.066 billion, with a delivered property area of 943,545 square meters, reflecting year-on-year growth of 10.2% and 64.5% respectively[40] - The group reported a total comprehensive income of RMB 1,922,909 thousand for the six months ended June 30, 2019, compared to RMB 1,958,245 thousand in 2018[150] Assets and Liabilities - The total assets as of June 30, 2019, amounted to RMB 129,921.56 million, up from RMB 101,490.78 million as of December 31, 2018, indicating a growth of 27.9%[16] - The total debt increased to RMB 40,354.93 million from RMB 33,337.65 million, marking a rise of 21.0%[16] - As of June 30, 2019, short-term debt accounted for only 22.7% of total debt, indicating strong liquidity with short-term debt representing 39.0% of cash and bank deposits[56] - The net debt ratio increased to 66.2% as of June 30, 2019, compared to 60.4% as of December 31, 2018[95] - The total liabilities increased to RMB 69,697,438 thousand from RMB 54,226,395 thousand, reflecting a rise of 28.6%[139] Cash Flow and Financing - The company’s cash and bank deposits balance as of June 30, 2019, was approximately RMB 23,496,986,000, up from RMB 19,972,815,000 at the end of 2018[84] - The company incurred a net cash outflow from investing activities of RMB 8,514,721 thousand for the six months ended June 30, 2019, compared to RMB 4,410,415 thousand in 2018[151] - The financing activities generated a net cash inflow of RMB 11,376,237 thousand for the six months ended June 30, 2019, compared to RMB 7,158,667 thousand in 2018[151] - The company’s net cash flow from financing activities included proceeds from new bank loans of RMB 8,066,155 thousand for the six months ended June 30, 2019[151] Market and Strategic Focus - The company plans to deepen its strategy of "regional focus and multi-business development" to strengthen its competitive position in the real estate market in China[5] - The real estate market in key cities showed signs of recovery, with national commodity housing sales amounting to RMB 706.98 billion, a year-on-year increase of 5.6%[19] - The group aims to become one of the most competitive real estate developers in China through proactive and stable development strategies[5] - The company plans to increase land reserves primarily in second-tier and strong third-tier cities to prepare for future saleable resources, anticipating stable real estate sales in the second half of 2019[57] Operational Efficiency - Selling and marketing expenses increased significantly by 70.5% to approximately RMB 231,294,000, attributed to a substantial increase in the number of projects for sale[77] - Administrative expenses rose by 48.1% to approximately RMB 628,687,000, primarily due to equity-settled share option expenses and increased management costs to support business expansion[78] - The company has successfully optimized its debt structure and extended the maturity of its debts through various offshore financing activities[56] Shareholder Information - As of June 30, 2019, Mr. Huang holds 2,105,000,000 shares, representing 51.02% of the company's issued share capital[103] - The company’s major shareholder, Mr. Huang, and his family hold approximately 51.02% of the voting equity capital[123] - The company has a stock option plan that was adopted on January 6, 2010, and is valid for ten years until January 5, 2020[107] Accounting and Reporting Standards - The company has adopted new and revised Hong Kong Financial Reporting Standards, including HKFRS 16 on leases, which requires all leases to be recognized on the balance sheet[156] - The impact of adopting HKFRS 16 has been assessed, and it did not have a significant effect on the interim financial statements[157] - The financial statements are prepared based on historical cost, except for certain financial assets and derivatives measured at fair value[153]

Financial Performance - For the year ended December 31, 2018, the group achieved revenue of approximately RMB 17.78 billion, representing a year-on-year growth of 10.4%[17] - The profit attributable to equity holders of the parent company was approximately RMB 3.39 billion, an increase of 19.2% compared to the previous year[17] - The gross profit margin for 2018 was approximately 34.6%, which is considered high within the industry[17] - The core profit attributable to equity holders was approximately RMB 2.20 billion, reflecting a 15.6% increase year-on-year[12] - The group successfully issued a three-year USD senior note of USD 600 million at a coupon rate of 7.45% in April 2018, enhancing liquidity for future development[23] - The group reported a significant increase in revenue, achieving a total of $1.2 billion for the fiscal year, representing a 15% year-over-year growth[140] - Property sales revenue rose approximately 10.6% from about RMB 15,573,839,000 in 2017 to about RMB 17,224,700,000 in 2018, with the average selling price per square meter increasing from about RMB 12,397 to about RMB 16,143[65] - Rental income increased by approximately 6.0% from about RMB 123,499,000 in 2017 to about RMB 130,962,000 in 2018[66] - Property management fees grew approximately 24.6% from about RMB 270,295,000 in 2017 to about RMB 336,678,000 in 2018, driven by an increase in the number and area of managed properties[67] - Project management income surged approximately 74.4% from about RMB 51,921,000 in 2017 to about RMB 90,546,000 in 2018, due to providing project management services to joint ventures[69] Assets and Liabilities - The total assets as of December 31, 2018, amounted to RMB 101.49 billion, reflecting a 53.4% increase from RMB 66.18 billion in 2017[13] - Cash and bank deposits increased by 107.1% to RMB 19.97 billion, up from RMB 9.64 billion in the previous year[13] - The total liabilities rose by 59.9% to RMB 79.35 billion, compared to RMB 49.62 billion in 2017[13] - The net debt ratio as of December 31, 2018, was approximately 60.4%, down from 71.8% as of December 31, 2017[90] - The total capital commitments for development properties and prepaid land leases in mainland China amounted to RMB 15,245,582,000 as of December 31, 2018, compared to RMB 9,686,960,000 in 2017[94] Land and Development - The group holds a total planned gross floor area of approximately 24.06 million square meters in land reserves, sufficient for future development over the next three to four years[4] - The group added 47 new projects in 2018, with a total planned construction area of approximately 9 million square meters and land costs of approximately RMB 38.92 billion, averaging RMB 4,327 per square meter[21] - The total land reserve as of December 31, 2018, was approximately 24.06 million square meters, sufficient to support development for the next three to four years[21] - The average land cost for new projects in the Beijing area was RMB 57,152 per square meter, while in Shanghai, it was RMB 10,488 per square meter[58] - The company has significant land acquisitions in the West Straits Economic Circle, including projects in Xiamen and Nanchang, with total land costs of RMB 2,910 million and RMB 376 million respectively[60] Sales and Market Performance - In 2018, the group achieved a contract sales amount of approximately RMB 51.36 billion, representing a year-on-year increase of about 54.5%, with a sales area of approximately 4.15 million square meters, up 116.7% year-on-year[19] - The total sales area for contracts was about 4.15 million square meters, with a year-on-year increase of approximately 54.5%[34] - The total sales area in second-tier cities accounted for approximately 43.3% of total contract sales, while third and fourth-tier cities contributed about 41.7%[47] - The total sales amount in Quanzhou reached approximately RMB 8.68 billion, accounting for about 16.9% of total contract sales[39] - The Yangtze River Delta Economic Circle accounted for approximately 31.5% of total contract sales, with a year-on-year growth of 87.2%[44] Corporate Governance - The company is committed to maintaining high standards of corporate governance to enhance operational efficiency and protect shareholder interests[153] - The board of directors strictly adhered to the Corporate Governance Code during the fiscal year ending December 31, 2018, except for the disclosure regarding the "Chairman and CEO" role[153] - The company has adopted a diversity policy for board members, focusing on measurable targets in skills, experience, knowledge, and independence[156] - The audit committee is composed entirely of independent non-executive directors, with Mr. Ding Lianghui as the chairman[175] - The company confirmed compliance with the independence requirements for all independent non-executive directors[164] Employee and Community Engagement - The total number of employees increased to 6,470 as of December 31, 2018, from 4,657 in 2017, with total employee costs amounting to approximately RMB 1,057,833,000[96] - The company emphasizes the principle that "human resources are the first resource" and focuses on "humane management" to enhance employee development and potential[103] - The establishment of "Zhongjun Club" aims to strengthen communication with customers and gather feedback for improving property offerings[103] - The company has adopted a stock option plan to encourage and reward employees, reflecting a commitment to competitive compensation[96] Strategic Initiatives - The company plans to continue its strategic focus on regional development and multi-business operations to strengthen its competitive position in the real estate market[4] - The group plans to expand its business into the "FUN+ Happy Life" ecosystem, targeting 50,000 to 100,000 long-term rental apartments in core first and second-tier cities over the next three to five years[27] - The company is investing $50 million in research and development for new technologies aimed at improving customer experience[140] - Future strategies include enhancing digital marketing efforts to drive user engagement and retention, with a budget increase of 15% allocated for this purpose[140] Environmental and Regulatory Compliance - The company has implemented various environmental protection measures in construction, project renovation, and property management[100] - The company is committed to complying with relevant laws and regulations in the jurisdictions it operates, including the Cayman Islands, British Virgin Islands, China, and Hong Kong[101]