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Our Growth with Substance Balance and Momentum

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Our Growth with Substance Balance and Momentum (Incorporated in the Cayman Islands with limited liability) Stock Code : 00884 目錄 CONTENTS 公司簡介 2 Company Profile 公司資料 3 Corporate Information 主要房地產項目 5 Major Property Projects 表現摘要 19 Performance Highlights 詞彙及定義 20 Glossary and Definitions 主席報告 21 Chairman’s Statement 管理層討論及分析 36 Management Discussion and Analysis 董事及高級管理人員簡介 81 Biographies of Directors and Senior Management 企業管治報告 90 Corporate Governance Report 環境、社會及管治報告 110 Environmental, Social and Governance Report 董事會報告書 141 Directors’ Report 獨立核數師報告 181 Independent Auditor’s Report 綜合損益及其他全面收益表 189 Consolidated Statement of Profit or Loss and Other Comprehensive Income 綜合財務狀況表 190 Consolidated Statement of Financial Position 綜合股本權益變動表 192 Consolidated Statement of Changes in Equity 綜合現金流量表 193 Consolidated Statement of Cash Flows 綜合財務報表附註 196 Notes to the Consolidated Financial Statements 五年財務概要附錄 472 Five Years’ Financial Summary Appendix 公司簡介 Company Profile 關於旭輝 ABOUT CIFI 旭輝控股（集團） 有限公司（「旭輝」 或「本 Headquartered in Shanghai, CIFI Holdings (Group) Co. Ltd. (“CIFI” or the 公司」，連同其附屬公司統稱「本集團」） “Company” and together with its subsidiaries, the “Group”) is principally 總部位於上海，主營業務是於中華人民 engaged in the property development and property investment business in the 共和國（「中國」） 從事房地產開發及房地 People’s Republic of China (“PRC” or “China”). 產投資。 我們主要專注在中國的一綫、二綫及三 We principally focus on developing high quality and end-users driven properties 綫城市開發高品質及針對用家自用的房 in first-, second- and third-tier cities in China. Our development projects cover 地產物業。我們的開發項目涵蓋住宅、 various properties types like residential, office and commercial complexes. 商務辦公、商業綜合體等多種物業種 Leveraging our effective business model and strong execution capabilities, we 類。憑藉我們高效的業務模式與強大的 are poised to continue our rapid growth and develop into a leading nationwide 執行能力，我們未來目標是繼續保持快 property developer. 速增長，發展為全國領先的房地產品牌。 我們已實現全國化的經營佈局，並在中 We have achieved a nationwide operating coverage and a strong presence in 國主要的一綫、二綫及三綫城市建立穩 major first-, second- and third-tier cities in China. As at 31 December 2018, 固的地位。於二零一八年十二月三十一 we had property projects in 44 cities in 4 regions: the Yangtze River Delta, the 日，我們在中國房地產的項目，分佈 Pan Bohai Rim, the Central Western Region and the South China Region. As 於4個區域44個城市，包括長三角、環 at 31 December 2018, we had a land bank with total and attributable GFA of 渤海、中西部及華南。於二零一八年 approximately 41.2 million sq.m. and 20.7 million sq.m. respectively. 十二月三十一日，我們擁有合計及應佔 建築面積分別約為41,200,000平方米及 20,700,000平方米的土地儲備。 展望未來，旭輝在「為客戶創造價值」 及 Looking forward, driven by our missions of “creating value for our customers” and 「用心構築美好生活」 的使命感召下，致 “building for a better life”, CIFI strives to become a leading and well-respected 力於成為中國具領導地位及受人尊敬的 real estate enterprise in China. 房地產企業。 2 CIFI HOLDINGS (GROUP) CO. LTD. | ANNUAL REPORT 2018 公司資料 Corporate Information 董事 DIRECTORS 執行董事 Executive Directors 林中先生（主席） Mr. LIN Zhong (Chairman) 林偉先生（副主席） Mr. LIN Wei (Vice-chairman) 林峰先生（行政總裁） Mr. LIN Feng (Chief Executive Officer) 陳東彪先生 Mr. CHEN Dongbiao 楊欣先生 Mr. YANG Xin 非執行董事 Non-Executive Director 王威先生 Mr. WANG Wei 獨立非執行董事 Independent Non-Executive Directors 顧雲昌先生 Mr. GU Yunchang 張永岳先生 Mr. ZHANG Yongyue 陳偉成先生 Mr. TAN Wee Seng 審核委員會 AUDIT COMMITTEE 陳偉成先生（主席） Mr. TAN Wee Seng (Chairman) 顧雲昌先生 Mr. GU Yunchang 張永岳先生 Mr. ZHANG Yongyue 薪酬委員會 REMUNERATION COMMITTEE 張永岳先生（主席） Mr. ZHANG Yongyue (Chairman) 林中先生 Mr. LIN Zhong 陳偉成先生 Mr. TAN Wee Seng 提名委員會 NOMINATION COMMITTEE 林中先生（主席） Mr. LIN Zhong (Chairman) 顧雲昌先生 Mr. GU Yunchang 張永岳先生 Mr. ZHANG Yongyue 授權代表 AUTHORIZED REPRESENTATIVES 林中先生 Mr. LIN Zhong 林峰先生 Mr. LIN Feng 公司秘書 COMPANY SECRETARY 羅泰安先生 Mr. LO Tai On 本公司網站 COMPANY’S WEBSITE ADDRESS www.cifi.com.cn www.cifi.com.cn 註冊辦事處 REGISTERED OFFICE P.O. Box 309 P.O. Box 309 Ugland House Ugland House Grand Cayman KY1-1104 Grand Cayman KY1-1104 Cayman Islands Cayman Islands 總部 HEADQUARTERS 中國 CIFI Center 上海市 Lane 1088, No. 39 Shenhong Road 閔行區 Minhang District 申虹路1088弄39號 Shanghai 旭輝中心 PRC 旭輝控股（集團）有限公司 | 二零一八年年報 3 公司資料 Corporate Information 香港主要辦事處 PRINCIPAL PLACE OF BUSINESS IN HONG KONG 香港金鐘道88號太古廣場一座 Suites 2002-2003, 20th Floor 20樓2002-2003室 One Pacific Place, 88 Queensway, Hong Kong 主要股份過戶登記處 PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE Maples Fund Services (Cayman) Limited Maples Fund Services (Cayman) Limited P.O. Box 1093, Boundary Hall P.O. Box 1093, Boundary Hall Cricket Square Cricket Square Grand Cayman KY1-1102 Grand Cayman KY1-1102 Cayman Islands Cayman Islands 香港證券登記處 HONG KONG SHARE REGISTRAR 香港中央證券登記有限公司 Computershare Hong Kong Investor Services Limited 香港灣仔皇后大道東183號 Rooms 1712-1716, 17th Floor, Hopewell Centre 合和中心17樓1712-1716室 183 Queen’s Road East, Wanchai, Hong Kong 主要往來銀行 PRINCIPAL BANKERS 中國 China 中國工商銀行股份有限公司 Industrial and Commercial Bank of China Limited 中國農業銀行股份有限公司 Agricultural Bank of China Limited 中國銀行股份有限公司 Bank of China Limited 中國建設銀行股份有限公司 China Construction Bank Corporation 交通銀行股份有限公司 Bank of Communications Co., Ltd 中信銀行股份有限公司 China CITIC Bank Corporation Limited 招商銀行股份有限公司 China Merchants Bank Co., Ltd. 平安銀行股份有限公司 Ping An Bank Co., Ltd. 中國民生銀行股份有限公司 China Minsheng Banking Corp., Ltd. 興業銀行股份有限公司 Industrial Bank Co., Ltd. 中國光大銀行股份有限公司 China Everbright Bank Co., Ltd 上海浦東發展銀行股份有限公司 Shanghai Pudong Development Bank Co., Ltd 上海銀行股份有限公司 Bank of Shanghai Co., Ltd. 渤海銀行股份有限公司 China Bohai Bank Co., Ltd. 浙商銀行股份有限公司 China Zheshang Bank Co., Ltd. 香港 Hong Kong 渣打銀行（香港）有限公司 Standard Chartered Bank (Hong Kong) Limited 香港上海滙豐銀行有限公司 The Hongkong and Shanghai Banking Corporation Limited 恒生銀行有限公司 Hang Seng Bank Limited 中國建設銀行（亞洲）股份有限公司 China Construction Bank (Asia) Corporation Limited 東亞銀行有限公司 The Bank of East Asia, Limited 永隆銀行有限公司 Wing Lung Bank Limited 中信銀行（國際）有限公司 China CITIC Bank International Limited 上海銀行（香港）有限公司 Bank of Shanghai (Hong Kong) Limited 南洋商業銀行有限公司 Nanyang Commercial Bank, Limited 創興銀行有限公司 Chong Hing Bank Limited 大華銀行有限公司 United Overseas Bank Limited 核數師 AUDITOR 德勤 • 關黃陳方會計師行 Deloitte Touche Tohmatsu 上市資料 LISTING INFORMATION 香港聯合交易所主板 Main Board of The Stock Exchange of Hong Kong （股份代號：00884） (Stock Code: 00884) 4 CIFI HOLDINGS (GROUP) CO. LTD. | ANNUAL REPORT 2018 主要房地產項目 Major Property Projects 旭輝於中國的全國化佈局 CIFI’s Nationwide Coverage in China 瀋陽 Shenyang 北京 Beijing 大連 Dalian 廊坊 Langfang 天津 Tianjin 石家莊 Shijiazhuang 烟台 Yantai 銀川 Yinchuan 淄博 Zibo 青島 Qingdao 濟南 濰坊 Jinan Weifang 臨沂 Linyi 濟寧 Jining 徐州 Zhengzhou Xuzhou 南通 Xi’an 鄭州 鎮江 Nantong 西安 Zhenjiang 無錫 蕪湖 Wuxi 合肥 Suzhou 許昌 Xuchang Hefei Wuhu 蘇州 常州 南京 Changzhou Nanjing 上海 Shanghai 嘉興 Jiaxing 成都 武漢 Wuhan 金華 Chengdu Jinhua 寧波 Ningbo 重慶 杭州 台州 Taizhou Chongqing 衢州 Hangzhou Quzhou 温州 長沙 Wenzhou Changsha 南昌 福州 Fuzhou 湘潭 Nanchang Xiangtan 泉州 Quanzhou 貴陽 廈門 Xiamen Guiyang 昆明 Kunming 廣州 佛山 Guangzhou 東莞 南寧 Nanning Foshan Dongguan 江門 Jiangmen 中山 Zhongshan 香港 Hong Kong 環渤海 Pan Bohai Rim 海口 Haikou 長三角 Yangtze River Delta 中西部 Central Western 三亞 Sanya 華南 South China Region = 一綫城市 First-tier cities = 二綫城市 Second-tier cities = 三綫城市 Third-tier cities 旭輝控股（集團）有限公司 | 二零一八年年報 5 主要房地產項目 Major Property Projects 旭輝在中國的代表性項目 CIFI’s Representative Projects in China 長三角 Yangtze River Delta 上海LCM項目 Shanghai LCM Project 上海恒基旭輝中心 Shanghai Henderson CIFI Center 上海寶山區羅店鎮項目 Shanghai Baoshan District Luodian Town Project 上海黃浦區馬當路項目 Shanghai Huangpu District Madang Road Project 上海閔行區莘莊項目 Shanghai Minhang District Xinzhuang Project 南通港閘項目 Nantong Gangzha Project 蘇州綠地旭輝吳門府 Suzhou Greenland CIFI Wujiang Mansion 蘇州吳中區西山項目 Suzhou Wuzhong District West Mountain Project 蘇州旭輝鉑悅犀湖 Suzhou CIFI Lake Mansion 常州旭輝鉑悅天寧 Changzhou CIFI Park Mansion 無錫旭輝藏瓏府 Wuxi CIFI Cang Long Mansion 宜興恒基旭輝府 Yixing Henderson CIFI Mansion 6 CIFI HOLDINGS (GROUP) CO. LTD. | ANNUAL REPORT 2018 主要房地產項目 Major Property Projects 長三角 Yangtze River Delta 杭州旭輝東原國濱府 Hangzhou CIFI Dongyuan Guobin Mansion 杭州旭輝濱江東方悅府 Hangzhou CIFI Binjiang East Mansion 杭州旭輝東原東越府 Hangzhou CIFI Dongyuan Majestic Mansion 杭州旭輝朗香郡Hangzhou CIFI Ronchamp County 杭州旭輝和昌都會山 Hangzhou CIFI Hechang Metropolis Mansion 杭州綠地旭輝城 Hangzhou Greenland CIFI Glorious City 寧波旭輝江山賦 Ningbo CIFI Jiangshan Mansion 寧波旭輝鉑宸府 Ningbo CIFI Central Mansion 寧波上湖城 Ningbo Prosperous Reflection 溫州碧桂園旭輝湖悅天境 Wenzhou Country Garden CIFI Lake Mansion 溫州旭輝甌海之光 Wenzhou CIFI Future City 南京旭輝鉑悅源墅 Nanjing CIFI Park Mansion Yuan 旭輝控股（集團）有限公司 | 二零一八年年報 7 主要房地產項目 Major Property Projects 長三角 Yangtze River Delta 南京旭輝鉑悅秦淮 Nanjing CIFI Park Mansion Qinhuai 南京北辰旭輝鉑悅金陵 Nanjing North Star CIFI Park Mansion Jinling 徐州旭輝江山御Xuzhou CIFI Noble Mansion 合肥旭輝玖著 Hefei CIFI Jiuzhu Mansion 合肥旭輝御璟江山 Hefei CIFI Glory Land 合肥旭輝公元天下 Hefei CIFI Lake Mansion 環渤海 Pan Bohai Rim 合肥旭輝江山印 Hefei CIFI Jade Seal 北京旭輝城 Beijing CIFI City 北京七里莊項目 Beijing Qilizhuang Project 天津旭輝天悅風華 Tianjin CIFI Tianyuefenghua 天津旭輝6號院 Tianjin CIFI No.6 Courtyard 瀋陽旭輝鉑宸府 Shenyang CIFI Bochen Mansion 8 CIFI HOLDINGS (GROUP) CO. LTD. | ANNUAL REPORT 2018 主要房地產項目 Major Property Projects 環渤海 Pan Bohai Rim 瀋陽旭輝雍禾府 Shenyang CIFI Luxury Mansion 濟南旭輝鉑悅鳳犀台 Jinan CIFI Park Mansion Fengxi 青島旭輝銀盛泰正陽府 Qingdao CIFI Yinshengtai Zhengyang Mansion 青島旭輝星悅城 Qingdao CIFI Xingyue City 淄博旭輝星悅城 Zibo CIFI Xingyue City 濰坊旭輝博觀熙岸 Weifang CIFI Bo Guan 中西部 Central Western 成都旭輝金科棠府 Chengdu CIFI Jinke Tang Mansion 成都華宇旭輝錦繡花城 Chengdu Huayu CIFI Glorious Flower City 武漢鈺龍旭輝半島 Wuhan Yulong CIFI Peninsula 西安旭輝中心 Xi’an CIFI Center 鄭州旭輝正榮首府 Zhengzhou CIFI Grand Mansion 重慶旭輝鉑悅瀾庭 Chongqing CIFI Prime Orient 旭輝控股（集團）有限公司 | 二零一八年年報 9 主要房地產項目 Major Property Projects 中西部 Central Western 重慶旭輝千江凌雲Chongqing CIFI Waves River 重慶旭輝御璟湖山 Chongqing CIFI Glory Land 重慶旭輝印江州 Chongqing CIFI Jiangzhou Impression 華南 South China Region 長沙旭輝湖山賦 Changsha CIFI Hushan Mansion 長沙旭輝南宸府
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