R&FPROPERTIES：AnnualReport2024.pdf

1、Stock code:2777GUANGZHOU R&F PROPERTIES CO.,LTD.ANNUAL REPORT2024Financial Highlights 3Letter to Shareholders 4Business Review 7Investor Relations 10Financial Review 11Corporate Governance Report 14Report of the Directors 23Report of the Supervisory Committee 33Directors,Supervisors and Senior Manag

2、ement 34Independent Auditors Report 39Consolidated Financial Statements 43Supplementary Information 143Five-Year Financial Summary 144Property List 145Corporate Information 155Shareholders Information 156ContentsABOUT R&FGUANGZHOU R&F PROPERTIES CO.,LTD.Annual Report 20242Guangzhou R&F Properties Co

3、.,Ltd.(“R&F”or the“Company”,together with its subsidiaries,collectively the“Group”)was founded in 1994 and headquartered in Guangzhou.After over thirty years of development,the Company has become a conglomerate primarily engaged in property development,as well as diversified businesses including com

4、mercial operation,hotel development,culture,recreation and tourism,healthcare and architectural and engineering design.As of the end of 2024,the Group has total assets of approximately RMB290 billion and a land bank of saleable area of approximately 40 million sq.m.and hotels managed by well-known h

5、otel management groups.Additionally,the Group has a total GFA of approximately 2 million sq.m.of investment properties under operation.The Groups businesses cover over 145 cities and regions.For more than 30 years,the Group has adhered to a development strategy of“creating a quality living with the

6、heartbeat of the city”,and strives to become a world leader in building quality of life.FINANCIAL HIGHLIGHTSGUANGZHOU R&F PROPERTIES CO.,LTD.Annual Report 2024320242023%ChangesOPERATING RESULTS(RMB000)Revenue17,701,425 36,238,835-51%Gross(loss)/profit(823,900)1,919,239-143%Losses attributable to own