Hailan Holdings Limited 海藍控股有限公司 (incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司) Stock Code 股份代號 : 2278 2018 Hailan Holdings Limited 海藍控股有限公司 Contents 目錄 Corporate Information 公司資料 2 Chairman’s Statement 主席報告書 5 Management Discussion and Analysis 管理層討論與分析 7 Directors and Senior Management 董事及高級管理層 26 Corporate Governance Report 企業管治報告 34 Report of the Directors 董事會報告 55 Environmental, Social and Governance Report 環境、社會及管治報告 85 Independent Auditor’s Report 獨立核數師報告 117 Consolidated Statement of Profit or Loss and 綜合損益及其他全面收益表 129 Other Comprehensive Income Consolidated Statement of Financial Position 綜合財務狀況表 131 Consolidated Statement of Changes in Equity 綜合權益變動表 133 Consolidated Statement of Cash Flows 綜合現金流量表 134 Notes to the Consolidated Financial Statements 綜合財務報表附註 136 Financial Summary 財務摘要 284 Corporate Information 公司資料 DIRECTORS 董事 Executive Directors 執行董事 Ms. Zhou Li (Chief Executive Officer and Chairman) 周莉女士（行政總裁兼主席） Mr. Chen Xiang 陳祥先生 Ms. Fan Wenyi 范文燚女士 Ms. Chan Si Yu 陳詩諭女士 Mr. Chen Zhonghua (appointed on 26 September 2019) 陳仲華先生（於2019年9月26日獲委任） Non-executive Director 非執行董事 Ms. Yao Yu 姚宇女士 Independent Non-executive Directors 獨立非執行董事 Mr. E Junyu 鄂俊宇先生 Mr. Li Yong 李勇先生 Dr. Zhao Guoqing 趙國慶博士 COMPANY SECRETARY 公司秘書 Mr. Yang Dong John 楊東先生 AUTHORIZED REPRESENTATIVES UNDER THE 根據上市規則的法定代表 LISTING RULES Ms. Zhou Li 周莉女士 Mr. Yang Dong John 楊東先生 AUDIT COMMITTEE 審核委員會 Dr. Zhao Guoqing (Chairman) 趙國慶博士（主席） Mr. E Junyu 鄂俊宇先生 Mr. Li Yong 李勇先生 REMUNERATION COMMITTEE 薪酬委員會 Mr. E Junyu (Chairman) 鄂俊宇先生（主席） Mr. Li Yong 李勇先生 Dr. Zhao Guoqing 趙國慶博士 Ms. Zhou Li 周莉女士 NOMINATION COMMITTEE 提名委員會 Ms. Zhou Li (Chairman) 周莉女士（主席） Mr. E Junyu 鄂俊宇先生 Mr. Li Yong 李勇先生 Dr. Zhao Guoqing 趙國慶博士 2 HAILAN HOLDINGS LIMITED / ANNUAL REPORT 2018 Corporate Information 公司資料 AUDITOR 核數師 Mazars CPA Limited 中審眾環（香港）會計師事務所有限公司 PRINCIPAL BANKS 主要往來銀行 Industrial and Commercial Bank of China Limited 中國工商銀行股份有限公司 Bank of Communications Co., Ltd. 交通銀行股份有限公司 LEGAL ADVISORS 法律顧問 As to Hong Kong law 香港法律 Loong & Yeung Solicitors 龍炳坤、楊永安律師行 As to PRC law 中國法律 Beijing Dentons Law Offices, LLP (Guangzhou) 北京大成（廣州）律師事務所 REGISTERED OFFICE 註冊辦事處 Estera Trust (Cayman) Limited Estera Trust (Cayman) Limited PO Box 1350 PO Box 1350 Clifton House Clifton House 75 Fort Street 75 Fort Street Grand Cayman KY1-1108 Grand Cayman KY1-1108 Cayman Islands Cayman Islands PRINCIPAL PLACE OF BUSINESS AND HEAD 中國主要營業地點及總部 OFFICE IN THE PRC 2/F, No. 1 Building Hampton by Hilton 中國 No. 169 Yu Lin Road 海南省三亞市 Tianya District 天涯區 Sanya, the Hainan Province 育林路169號 The PRC 希爾頓歡朋酒店旁1號樓二層 PRINCIPAL PLACE OF BUSINESS IN HONG KONG 香港主要營業地點 Room 2212, 22/F, The Center 香港 99 Queen’s Road Central 中環 Central 皇后大道中99號 Hong Kong 中環中心22樓2212室 海藍控股有限公司 / 2018 年報 3 Corporate Information 公司資料 PRINCIPAL SHARE REGISTRAR AND TRANSFER 主要股份過戶登記處 OFFICE Estera Trust (Cayman) Limited Estera Trust (Cayman) Limited PO Box 1350 PO Box 1350 Clifton House Clifton House 75 Fort Street 75 Fort Street Grand Cayman KY1-1108 Grand Cayman KY1-1108 Cayman Islands Cayman Islands BRANCH SHARE REGISTRAR AND TRANSFER 香港股份過戶登記分處及轉讓登記處 OFFICE IN HONG KONG Tricor Investor Services Limited 卓佳證券登記有限公司 Level 54, Hopewell Centre 香港 183 Queen’s Road East 皇后大道東183號 Hong Kong 合和中心54樓 PLACE OF LISTING 股份上市地點 The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) 香港聯合交易所有限公司（「聯交所」） COMPANY WEBSITE 公司網站 www.hailanholdings.com www.hailanholdings.com 4 HAILAN HOLDINGS LIMITED / ANNUAL REPORT 2018 Chairman’s Statement 主席報告書 Dear Shareholders, 尊敬的股東： On behalf of the board (the “Board”) of directors (the 本人謹代表海藍控股有限公司（「本公司」或「海 “Director(s)”) of Hailan Holdings Limited (the “Company” or 藍控股」，連同其附屬公司統稱「本集團」）董 “Hailan Holdings”, together with its subsidiaries, collectively 事（「董事」）會（「董事會」）欣然提呈截至2018 known as the “Group”), I am pleased to present the audited 年12月31日止年度（報告期間」）之經審核財 financial results for the year ended 31 December 2018 (the 務業績。 “Reporting Period”). In retrospect of the Reporting Period, under the strategic regulation 回顧報告期間，在中國政府策略性調控房地產 of the real estate market by the Chinese government, the real 市 場 下， 於 海 南 省 的 房 地 產 投 資 同 比 下 降 estate investment, saleable area and sales in Hainan Province 16.5%，銷售面積同比下降37.5%，銷售額同 recorded a year-on-year drop of 16.5%, 37.5% and 23.2%, 比下降23.2%。面對經營環境的阻力，海藍控 respectively. Facing the headwinds stemming from the operating 股的業績亦無可避免受到衝擊。 environment, the performance of Hailan Holdings was also inevitably affected. For the Reporting Period, contracted sales of the Group amounted 報 告 期 間， 本 集 團 合 約 銷 售 額 達 至 人 民 幣 to RMB1,179.0 million, representing a reduction of 45.5% as 1,179.0百萬元，較2017年減少45.5%。合約 compared to 2017. Contracted saleable gross floor area (“GFA”) 銷售建築面積（「建築面積」）約為42,017.1平方 was approximately 42,017.1 square meters, representing a 米，較去年減少約47.9%。銷售均價（「銷售均 decrease of approximately 47.9% as compared to last year. The 價」）每平方米約人民幣28,060.0元，按年上升 average selling price (“ASP”) was about RMB28,060.0 per square 約4.6%。 meter, representing an increase of approximately 4.6% as compared to last year. Although we remain positive on the long-term development of 儘管我們對中國房地產業務的長遠發展持樂觀 China’s real estate business, the Group has been actively looking 態度，但為分散業務風險，本集團一直在積極 for other business opportunities to diversify its business risks. We 物色其他商機。我們欣然宣佈，於2018年10 are pleased to announce that at the end of October 2018, the 月底，本公司訂立股東協議以成立合營公司， Company entered into a shareholders’ agreement to establish a 主要於美國矽谷從事房地產投資及開發，此乃 joint venture company, which principally engaged in real estate 海藍控股開拓海外業務的重要里程碑。鑑於當 investment and development in Silicon Valley, the United States, 前美國經濟繁榮發展、房地產行業較中國更穩 representing an important milestone for Hailan Holdings to expand 定，以及對房地產開發商的需求仍然相對高 its business overseas. Given the current economic prosperity in the 企，成立合營公司將令本集團更順利進軍美國 United States, the more stable real estate industry as compared to 房地產行業，從而帶來新的長期收入來源。而 China, and the relatively high demand from real estate developers, 矽谷作為美國經濟的重要引擎之一，匯聚了大 the establishment of a joint venture company will enable the Group 量高科技行業人才，令當地成為美國房價最高 to enter into the US real estate industry more smoothly and thus 地區之一，房地產市場龐大。 create a new source of long-term income. As one of the important motivators for the US economy, Silicon Valley has assembled a large number of high-tech industry talents, making it one of the areas with the highest housing prices in the United States under a huge real estate market. 海藍控股有限公司 / 2018 年報 5 Chairman’s Statement 主席報告書 Looking ahead, we believe that the global economy will remain 展望未來，相信環球經濟在中美貿易糾紛下仍 unstable under the Sino-US trade disputes and the Chinese 將陰晴不定，而中國政府可能會貫徹房地產調 government implements real estate regulations, which may 控，為本集團的發展帶來阻力。然而，憑藉我 constrain the development of the Group. However, we believe that 們於中國海南省的優質資產、物業管理和建房 the excellent track record of our valued assets, property 執行的卓越往績，以及穩定的住房合約銷售收 management and property construction execution in Hainan 益，相信將支持本集團業務的持續增長。本集 Province, China and the stable sales revenue from housing 團將密切留意宏觀經濟環境及政策的變化，把 contracts will support the sustainable growth of our business. The 握客戶需求、改善產品結構、實施去庫存，並 Group will promote the growth in contract sales by paying close 加快項目周轉，以推動合約銷售增長。 attention to the changes in the macro-economic environment and policies, so as to grasp customer’s demand, optimize product mix and undergo destocking as well as to accelerate the turnover of projects. To further facilitate the development of the Group, we have been 為進一步推動本集團的發展，我們一直發掘不 exploring different investment opportunities. In addition to our 同的投資良機。除了擴大海外足跡，我們將盡 expansion of coverage in the overseas market, we will make our 力使業務多元化，放眼不同的新興行業板塊， best endeavours to diversify our business and explore different 包括與前沿科技、城市、人口、房地產行業息 emerging industries, including industries closely related to cutting- 息相關的行業，如人工智能及高科技製造、健 edge technology, city, population and real estate, such as artificial 康及生物醫療、新興互聯網及通訊科技等，務 intelligence and high-tech manufacturing, health and biomedicine, 求與本集團的核心房地產業務產生協同效應。 emerging Internet and communication technology, in order to create synergies with the Group’s core real estate business. The management has formulated the future development plan. By 管理層已製定好未來發展藍圖，透過立足香 basing in Hong Kong, delving into the Mainland, expanding the 港、深耕內地、拓展北美、佈局全球，推動本 market in North America and spreading global footprints, it will 集團的業務發展更上一層樓，為股東締造最佳 further promote the development of the Group’s business and 回報。 create the best return for shareholders. I would like to express my sincere gratitude on behalf of the Board 最後，本人謹代表董事會對全體員工的辛勤工 to all our staff for their hard work, and my heartfelt thanks to 作致以誠摯的感謝。同時，向廣大投資者、客 investors, customers and business partners for their strong and 戶及業務夥伴給予本集團的大力及持續支持表 continuous support to the Group. 示由衷地感謝。 Zhou Li 周莉 Chairperson 主席 18 September 2019 2019年9月18日 6 HAILAN HOLDINGS LIMITED / ANNUAL REPORT 2018 Management Discussion and Analysis 管理層討論與分析 BUSINESS REVIEW 業務回顧 Overall Performance 整體表現 For the Reporting Period, the revenue and gross profit of the Group 報告期間，本集團的收益及毛利分別約為人民 were approximately RMB1,410.5 million and RMB663.2 million, 幣1,410.5百萬元及人民幣663.2百萬元，分別 representing a decrease of approximately 29.7% and 25.5% as 較2017年減少約29.7%及25.5%。本公司權 compared with 2017, respectively. Profit attributable to the equity 益股東應佔溢利約為人民幣179.5百萬元，而 shareholders of the Company was approximately RMB179.5 去年則錄得本公司權益股東應佔溢利約人民幣 million, while we recorded profit attributable to the equity 251.2百萬元。每股基本盈利為人民幣60分 shareholders of the Company of approximately RMB251.2 million （2017年：人民幣84分）。