R&FPROPERTIES：AnnualReport2018.pdf

1、GUANGZHOU R&F PROPERTIES CO.,LTD.Annual Report 201845-54/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.About 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”)is a major player in the count

3、rys drive towards urbanization.Our core business lies in mass residential property development on a variety of scales.As of the end of 2018,the Groups attributable land bank was approximately 57.83 million sq.m.across 96 cities and areas.As part of our ongoing development strategy,the Group has also

4、 diversified its property portfolio by developing hotels,office buildings and shopping malls.At the beginning of 2019,the Group has become the largest owner of deluxe hotels globally,with 89 operating deluxe hotels managed by well-known hotel management groups.With a prime land bank portfolio suffic

5、ient for several years of developments,and a brand name synonymous for quality and value nationwide,R&F is expecting to contribute significantly to the quality of urban life over the coming year.4 Financial Highlights8 Letter to Shareholders16 Business Review20 Our Property Portfolio26 Investor Rela

6、tions28 Environmental,Social and Governance Report67 Financial Review76 Corporate Governance Report83 Report of the Directors92 Report of the Supervisory Committee93 Directors,Supervisors and Senior Management98 Independent Auditors Report103 Consolidated Financial Statements224 Supplementary Inform