C M Y CM MY CY CMY K CONTENTS 2 Company Profile 3 Corporate Information 4–11 Property Development Projects 12–19 Management Discussion and Analysis 20–28 Corporate Governance Report 29–41 Environmental, Social and Governance Report 42–44 Biographical Details of Directors and Senior Management 45–52 Report of the Directors 53–57 Independent Auditor’s Report 58 Consolidated Statement of Profit or Loss 59 Consolidated Statement of Comprehensive Income 60–61 Consolidated Statement of Financial Position 62 Consolidated Statement of Changes in Equity 63–64 Consolidated Statement of Cash Flows 65–156 Notes to Financial Statements 157–158 Particulars of Investment Properties 159 Five Year Financial Summary 160 Financial Highlights COMPANY PROFILE BUSINESS AREAS Peking University Resources (Holdings) Company Limited (“PKU Resources” or the “Company”, together with its subsidiaries, collectively the “Group”) was formerly known as EC-Founder (Holdings) Company Limited. In order to seek higher proceeds for shareholders, the Company began to launch multi-business development strategy based on information products distribution business starting in 2013. In January 2013, the Company completed the acquisition of subsidiaries engaged in the business of property development and property investment from the subsidiary of Peking University Founder Group Company Limited (“Peking Founder”, together with its subsidiaries, collectively the “Peking Founder Group”), and gradually entered the fields of real estate development and commercial real estate operations, making itself an overseas listing platform of real estate business subordinate to Peking University and Peking Founder and also the only university-run real estate development enterprise in Hong Kong capital market. As at the date of this annual report, the Group’s operation area has covered 18 cities of China and the Group started construction of 4 projects with 29 projects under construction in aggregate and a total of 32 projects on sale. In the future, the Group will be mainly engaged in the real estate investment business. BACKGROUND OF SUBSTANTIAL SHAREHOLDERS Peking University, founded in 1898, initially named Imperial University of Peking, is the first national comprehensive university of China, and also the highest educational authority of China at that time. After the 1911 revolution, she was renamed the present name in 1912. In recent years, Peking University has entered a new historical stage of development and has achieved remarkable achievements in discipline construction, talent training, teaching staff construction, teaching and scientific research and other areas, laying a solid foundation to build itself into one of the world-class universities. Today, Peking University has become a cradle for training high-quality creative talents for China, a frontier of scientific researches, an important base for knowledge innovation and an important bridge and window for international exchanges. Peking Founder was invested and founded in 1986 by Peking University. As the spiritual leader and a founder of Peking Founder, Academician Wang Xuan invented the Chinese-character information processing and Laser Phototypesetting Technology, which laid the initial solid foundation for the future development of Peking Founder. Today, rooted in Peking University, Peking Founder Group is committed to supply distinguished products and services and create intelligent, healthy and plentiful life for people. 002 Peking University Resources (Holdings) Company Limited CORPORATE INFORMATION BOARD OF DIRECTORS PRINCIPAL BANKERS Executive directors Bank of Beijing Mr Cheung Shuen Lung (Chairman) Bank of Communications Mr Zeng Gang (President) Huaxia Bank Ms Sun Min Ping An Bank Mr Ma Jian Bin DBS Bank (Hong Kong) Limited Ms Liao Hang Industrial and Commercial Bank of China (Asia) Limited Mr Zheng Fu Shuang REGISTERED OFFICE Independent non-executive directors Victoria Place, 5th Floor Mr Chan Chung Kik, Lewis 31 Victoria Street Mr Lau Ka Wing Hamilton HM 10 Mr Lai Nga Ming, Edmund Bermuda COMMITTEES HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESS IN HONG KONG Audit Committee Unit 1408, 14th Floor Mr Chan Chung Kik, Lewis (Chairman) Cable TV Tower Mr Lau Ka Wing 9 Hoi Shing Road Mr Lai Nga Ming, Edmund Tsuen Wan Remuneration Committee New Territories Hong Kong Mr Lau Ka Wing (Chairman) Mr Cheung Shuen Lung SHARE REGISTRARS AND TRANSFER OFFICE Mr Lai Nga Ming, Edmund Principal registrar Nomination Committee MUFG Fund Services (Bermuda) Limited 4th floor North Mr Cheung Shuen Lung (Chairman) Cedar House Mr Chan Chung Kik, Lewis 41 Cedar Avenue Mr Lai Nga Ming, Edmund Hamilton HM 12 COMPANY SECRETARY Bermuda Ms Cheang Yee Wah Eva Hong Kong branch share registrar and transfer office AUTHORISED REPRESENTATIVES Tricor Tengis Limited Mr Cheung Shuen Lung Level 54, Hopewell Centre Mr Zeng Gang 183 Queen’s Road East Hong Kong AUDITOR Ernst & Young LISTING INFORMATION Certified Public Accountants Main board of The Stock Exchange of Hong Kong Limited Stock code: 00618 LEGAL ADVISERS Board Lot: 2,000 shares Clifford Chance LLP COMPANY WEBSITE www.pku-resources.com ANNUAL REPORT 2019 003 PROPERTY DEVELOPMENT PROJECTS PROPERTY DEVELOPMENT PROJECTS 004 Peking University Resources (Holdings) Company Limited Property Development Projects ANNUAL REPORT 2019 005 Property Development Projects PROJECT LOCATIONS 1 2 13 CHONGQING 3 PKU Resources • Jiangshan Mingmen PKU Resources • Yannan 4 PKU Resources • Boya PKU Resources • Yuelai 1 TIANJIN PKU Resources • Zijing Mansion (Tea Garden 155 Mu) PKU Resources • Yuefu PKU Resources • Yuecheng 5 14 KUNMING, YUNNAN Tuanbo Project • Park 1898 9 7 8 6 Kunming Botai City 2 QINGDAO, SHANDONG 12 13 6 HANGZHOU, ZHEJIANG 15 YUXI, YUNNAN PKU Resources Square 10 PKU Resources • Wei Ming Yuxi Project Mansion (Resources Rui Cheng • Yihe Jiujin) 3 XINING, QINGHAI 18 11 WUHAN, HUBEI FOSHAN, GUANGDONG Boya Financial Plaza 7 16 14 PKU Resources • Shanshui Nianhua PKU Resources • Boya Binjiang KAIFENG, HENAN Founder International Financial Building 15 4 (Zhongbei Road Project) 16 17 CHENGDU, SICHUAN DONGGUAN, GUANGDONG PKU Resources • Wei Ming Mansion 12 17 PKU Resources • Phrase 1 of Block C, EZHOU, HUBEI Boya Gongguan 1898 8 PKU Resources • Yannan International Wei Ming Mansion (Kaifeng 39 Mu) 10 CHANGSHA, HUNAN Yihe Emerald Park (Park 1898) PKU Resources • Wei Ming Yangzhe PKU Resources • Lianhu Jincheng PKU Resources • Xishanyue Resources Rui Cheng • Wei Ming 1898 PKU Resources • Time PKU Resources • Park 1898 PKU Resources • Ideal Home PKU Resources • Yihe Emerald Mansion 18 GUIYANG, GUIZHOU 5 KUNSHAN, JIANGSU PKU Resources • Yihe Yajun 9 YICHANG, HUBEI ZHUZHOU, HUNAN Xinfan Project PKU Resources • Dream City 11 Duyun Project PKU Resources • Jiujin Yihe Boya City Plaza (Xinchuan Science & Quanhu Project PKU Resources • Yihe Tianyue Changjiang International Cultural Plaza PKU Resources • Emerald Park Technology Park 35 Mu Project) 006 Peking (Qian University Deng ResourcesProject) (Holdings) Company Limited Property Development Projects 1 2 13 CHONGQING 3 PKU Resources • Jiangshan Mingmen PKU Resources • Yannan 4 PKU Resources • Boya PKU Resources • Yuelai 1 TIANJIN PKU Resources • Zijing Mansion (Tea Garden 155 Mu) PKU Resources • Yuefu PKU Resources • Yuecheng 5 14 KUNMING, YUNNAN Tuanbo Project • Park 1898 9 7 8 6 Kunming Botai City 2 QINGDAO, SHANDONG 12 13 6 HANGZHOU, ZHEJIANG 15 YUXI, YUNNAN PKU Resources Square 10 PKU Resources • Wei Ming Yuxi Project Mansion (Resources Rui Cheng • Yihe Jiujin) 3 XINING, QINGHAI 18 11 WUHAN, HUBEI FOSHAN, GUANGDONG Boya Financial Plaza 7 16 14 PKU Resources • Shanshui Nianhua PKU Resources • Boya Binjiang KAIFENG, HENAN Founder International Financial Building 15 4 (Zhongbei Road Project) 16 17 CHENGDU, SICHUAN DONGGUAN, GUANGDONG PKU Resources • Wei Ming Mansion 12 17 PKU Resources • Phrase 1 of Block C, EZHOU, HUBEI Boya Gongguan 1898 8 PKU Resources • Yannan International Wei Ming Mansion (Kaifeng 39 Mu) 10 CHANGSHA, HUNAN Yihe Emerald Park (Park 1898) PKU Resources • Wei Ming Yangzhe PKU Resources • Lianhu Jincheng PKU Resources • Xishanyue Resources Rui Cheng • Wei Ming 1898 PKU Resources • Time PKU Resources • Park 1898 PKU Resources • Ideal Home PKU Resources • Yihe Emerald Mansion 18 GUIYANG, GUIZHOU 5 KUNSHAN, JIANGSU PKU Resources • Yihe Yajun 9 YICHANG, HUBEI ZHUZHOU, HUNAN Xinfan Project PKU Resources • Dream City 11 Duyun Project PKU Resources • Jiujin Yihe Boya City Plaza (Xinchuan Science & Quanhu Project PKU Resources • Yihe Tianyue Changjiang International Cultural Plaza PKU Resources • Emerald Park Technology Park 35 Mu Project) (Qian Deng Project) ANNUAL REPORT 2019 007 Property Development Projects TIANJIN Planned GFA Equity Project Name Project Location Form (sq.m) Share PKU Resources • Yuefu Tianjin Residential/Commercial 271,382 70% City Complex Integrating PKU Resources • Yuecheng Tianjin Residential/Commercial/ 437,646 60% Office/Apartment Tuanbo Project • Park 1898 Tianjin Residential/Commercial 67,640 100% QINGDAO, SHANDONG Planned GFA Equity Project Name Project Location Form (sq.m) Share PKU Resources Square Qingdao, Shandong Commercial/Office 140,690 70% XINING, QINGHAI Planned GFA Equity Project Name Project Location Form (sq.m) Share Boya Financial Plaza Xining, Qinghai Commercial/Office 417,311 – KAIFENG, HENAN Planned GFA Equity Project Name Project Location Form (sq.m) Share PKU Resources • Wei Ming Mansion Kaifeng, Henan Commercial/Residential 323,596 100% PKU Resources • Phrase 1 of Block C, Kaifeng, Henan Commercial/Residential