R&FPROPERTIES：AnnualReport2019.pdf

1、GUANGZHOU R&F PROPERTIES CO.,LTD.Annual Report 201945-54/F.,R&F Center,10 Huaxia Road,Pearl River New Town,Guangzhou,ChinaPostal Code:510623 Tel:(8620)3888 2777 Fax:(8620)3833 2777Hong Kong Office:Room 1103,Yue Xiu Building,160-174 Lockhart Road,Wanchai,Hong KongTel:(852)2511 6675 Fax:(852)2511 9087

2、/2507 *for identification purpose onlyStock code:2777GUANGZHOU R&F PROPERTIES CO.,LTD.ANNUAL REPORT 2019About R&FAs one of Chinas largest and most well-known property developers,Guangzhou R&F Properties Co.,Ltd.(“R&F”or the“Company”,together with its subsidiaries,collectively the“Group”)founded in 1

3、994 and headquartered in Guangzhou.After over twenty years of rapid development,the Company is a conglomerate primarily engaged in property development,as well as diversified businesses including hotel development,commercial operation,property management and architectural and engineering design.The

4、Groups attributable sales amounted to over RMB138 billion in 2019.As of the end of 2019,the Group has a land bank of approximately 58 million sq.m.and owns 90 deluxe hotels in operation,managed by well-known hotel management group.Concurrently,the Group has a total GFA of over 2.5 million sq.m.of in

5、vestment properties in operation.The Groups businesses cover over 140 cities and regions up to now.For more than 20 years,R&F has adhered to a development strategy of“create a quality living with heartbeat of the city”,creating beautiful places to live and work,and striving to become a world leader

6、in building quality of life.Financial Highlights 4Letter to Shareholders 8Business Review 16Our Property Portfolio 20Investor Relations 26Environmental,Social and Governance Report 28Financial Review 74Corporate Governance Report 83Report of the Directors 90Report of the Supervisory Committee 99Dire