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2018 Annual Report with Paper from Responsible Source to Fulfill Our Corporate Responsibility and Create a Bright Future for Our Next Generation

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2018 Annual Report with Paper from Responsible Source to Fulfill Our Corporate Responsibility and Create a Bright Future for Our Next Generation CHINA JINMAO HOLDINGS GROUP LIMITED A NNUAL REPORT 2018 NNUAL REPORT ANNUAL REPORT 2018 CHINA JINMAO HOLDINGS GROUP LIMITED (Incorporated in Hong Kong with limited liability) Stock Code: 00817 釋放城市未來生命力 UNLEASHING FUTURE VITALITY OF THE CITY Slide the panel horizontally Building an innovative ecological system over the illustration. Adhering to the principle of “In Science We Trust and Unity of Knowledge and Action”, China Jinmao endeavours to strengthen the subject, method and culture of innovation with focus on smart technology and green health while centring on the potential demand of customers, and continues to push ahead technological innovation and product upgrade in leading and enhancing a better life in the future. Contents 2 Company Overview 123 Corporate Governance Report 4 Major Events 140 Report of the Directors 6 Corporate Information 169 Independent Auditor’s Report 7 Financial Highlights 174 Consolidated Statement of Profit or Loss 8 Chairman’s Statement 175 Consolidated Statement of Comprehensive Income 12 Honours and Awards 176 Consolidated Statement of Financial Position 14 Management Discussion and Analysis 178 Consolidated Statement of Changes in Equity 107 Investor Relations 180 Consolidated Statement of Cash Flows 110 Corporate Social Responsibilities 183 Notes to Financial Statements 116 Profile of Directors and Senior Management 308 Five-Year Financial Information CHINA JINMAO HOLDINGS GROUP LIMITED 1 ANNUAL REPORT 2018 Company Overview China Jinmao Holdings Group Limited (“China Jinmao” or the “Company”) is a platform enterprise under the real estate and hotel segments of Sinochem Group Co., Ltd., one of the world’s top 500 enterprises. On 17 August 2007, China Jinmao was listed on the Main Board of The Stock Exchange of Hong Kong Limited (hereinafter referred to as the “Hong Kong Stock Exchange”) (Stock Code: HK.00817). It is now one of the component stocks of the Hong Kong Hang Seng Composite Index. Sinochem Group Co., Ltd. is one of the state-owned enterprises that is approved by the SASAC of the State Council to engage in property development and hotel operations as one of its principal businesses. In adherence to the vision of “Unleashing Future Vitality of the City”, China Jinmao holds on to the direction of high- end positioning and premium quality and endeavours to become a leading city operator in China by capitalising on the quality leadership-oriented “two-wheel and two-wing driven” development strategy with focus on the model of “two-driven and two-upgrade” city operations. Based on its foresight on city potentials, China Jinmao integrates the world’s leading premium resources and introduces the concept of mutually beneficial city planning to achieve overall enhancement in regional functions and city vitality. Currently, China Jinmao has succeeded in entering the markets in 40 core cities of the five major regions namely North China, East China, South China, Central China and Southwest China. Capitalising on the synergies and integration strengths between the segments, China Jinmao has created a series of high-end products featuring “Jinmao” brand. The “green gold label” standard of its “green technology and Jinmao quality” has become a unique quality gene and inherent brand feature of “Jinmao” series products and redefined high- end quality in the industry. CITY FINANCE AND RETAIL PROPERTY COMMERCIAL HOTEL OPERATIONS SERVICES OPERATIONS DEVELOPMENT LEASING OPERATIONS ADHERING TO THE STRATEGIC on its leading force of Beijing Jinmao Green Building POSITIONING OF “CITY OPERATOR” Technology Co., Ltd. (“Jinmao Green Building”) in science and technology industry, actively study the logistics The Company will fully utilise its experience in city industry, and drive industry upgrade of cities via industry operations, hold on to planning-driven as traction and cooperation and incubation. capital-driven as cornerstone to drive city upgrade and industry upgrade, and work with governments to shape a City upgrade new city core. Leverage on the Company’s accumulated product strengths and brand influence in areas of quality Planning-driven residence, high-end hotel, premium retail and 5A office Actively capitalise on the Company’s professional building to drive consumption upgrade and functional expertise in planning to achieve function diversification, upgrade of cities. high-end oriented industry and city internationalisation based on integrated, systematic, forward-looking and IN SCIENCE WE TRUST WITH scientific planning. FOCUS ON INNOVATION-DRIVEN Capital-driven TRANSFORMATION Leverage on the Company’s funding and credit Adhering to the principle of “In Science We Trust”, the advantages and capitalise on the role of JM Capital Company endeavours to strengthen its positioning as city Limited (“JM Capital”) in expanding funding channels and operator and continues to push ahead the “two-wheel facilitating industry implementation as part of its capital- and two-wing driven” development strategy with focus driven regional development efforts to achieve production on smart technology and green health. At the same time, led by investment. centring on the dual eco-circle of “city operations” and “Jinmao Palace 2.0” to drive technological innovation Industry upgrade and product upgrade and enrich the business model with Focus on the three major industries namely big culture, city operations as the core, the Company cultivates new big healthcare and big technology while capitalising growth points to accelerate transformation toward the technology-driven innovative enterprise. 2 CHINA JINMAO HOLDINGS GROUP LIMITED ANNUAL REPORT 2018 Company Overview CITY AND PROPERTY DEVELOPMENT Strong Performance Property development projects and primary land development projects with an area yet to be delivered of approximately 41.48 million square metres and approximately 21.30 million square metres respectively During the Year, sales results of the projects were good, contracted sales amount increased by 85% year-on-year, and land reserves were expanded with the successful acquisitions in Beijing, Shanghai, CONTRACTED Guangzhou, Xuzhou, Kunming, Dongguan, Quanzhou, Changzhou, Nantong, Zhuzhou, SALES AMOUNT 2018 128,000.0 Kaifeng, Huzhou, Shaoxing, Taizhou, Guiyang, Jinan and Jiaxing (RMB million) 2017 69,300.0 COMMERCIAL LEASING AND RETAIL OPERATIONS Stable Income Nine high-quality investment properties with a total gross floor area of approximately 780,000 square metres. The rental revenue increased by 6% year-on-year. High rental level and high occupancy rate of the Group’s investment properties, outperforming its RENTAL REVENUE 2018 1,449.8 peers (RMB million) 2017 1,370.0 HOTEL OPERATIONS Industry Leader Ten luxury hotels offering 3,975 guest rooms Remarkable performance of hotel operations, outperforming its peers HOTEL REVENUE 2018 2,047.9 (RMB million) 2017 2,070.0 CHINA JINMAO HOLDINGS GROUP LIMITED 3 ANNUAL REPORT 2018 Major Events FEBRUARY 2018 ◎ The Company acquired the land parcel no. Sudi 2017-WG-73 in Suzhou. ◎ The Company acquired the land parcel located at Chang’an University Town, Chang’an, Xi’an. ◎ The Company acquired the land parcel no. P(2018) 001 located at Wanshan Village, Yangluo, Wuhan. MARCH 2018 ◎ The Company issued RMB1,250 million RMB denominated senior guaranteed notes. ◎ The Company acquired the land parcel located at Xinlong Village, Lecong Town, Foshan. ◎ The Company acquired the land parcel no. 2018-1 in Tongshan District, Xuzhou. ◎ The Company acquired the land parcel no. S2017-07 in Quanzhou. APRIL 2018 ◎ The Company issued RMB3,000 million domestic unsecured medium- term notes. ◎ The Company acquired the land parcel located at Lanyi Aircraft Manufacturing Plant, Zhonglou District, Changzhou. MAY 2018 ◎ The Company and the Administrative Committee of West Coast New Area of Qingdao entered into the strategic cooperation framework agreement on “Qingdao West Coast Innovation and Technology City”. JULY 2018 ◎ The Company acquired the land parcel no. R18017 in Chongchuan District, Nantong. 4 CHINA JINMAO HOLDINGS GROUP LIMITED ANNUAL REPORT 2018 Major Events AUGUST 2018 ◎ The Company and the Administrative Committee of Zhangjiagang New and High-Tech Zone entered into the cooperation agreement on “Zhangjiagang Smart Science City” project. ◎ The Company and the government of Jimo District, Qingdao entered into the cooperation agreement on “Qingdao Jimo International New City” project. SEPTEMBER 2018 ◎ The Company acquired the land parcel no. 39 in Bianxi New Area, Kaifeng. ◎ The Company and the government of Fenghua District, Ningbo entered into the cooperation agreement on “Ningbo Life Science City” project. OCTOBER 2018 NOVEMBER 2018 ◎ The Company organised China ◎ The Company issued RMB1,540 Jinmao•Jinmao Palace 2.0 million property management press conference. fee ABS. DECEMBER 2018 ◎ The Company issued US$300 million senior guaranteed perpetual capital securities. ◎ The Company issued RMB2,000 million domestic unsecured perpetual medium-term notes. ◎ The Company and the government of Rui’an entered into the cooperation agreement on “Rui’an Eco Science City” project. CHINA JINMAO HOLDINGS GROUP LIMITED 5 ANNUAL REPORT 2018 Corporate Information COMPANY NAME LEGAL ADVISORS China Jinmao Holdings Group Limited Latham & Watkins LLP 18/F, One Exchange Square PRINCIPAL OFFICE 8 Connaught Place Central, Hong Kong Rooms 4702-4703 47th Floor, Office Tower, Convention Plaza Tian Yuan Law Firm No. 1 Harbour Road 10/F, CPIC PLAZA Wan Chai, Hong Kong 28 Fengsheng Lane, Xicheng District NON-EXECUTIVE
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