R&FPROPERTIES：2021AuditedAnnualResultsAnnouncement.pdf

1、1Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement,make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in relia

2、nce upon the whole or any part of the contents of this announcement.(a joint stock limited company incorporated in the Peoples Republic of China with limited liability)(Stock code:2777)2021 AUDITED ANNUAL RESULTS ANNOUNCEMENTReference is made to the announcement of Guangzhou R&F Properties Co.,Ltd.(

3、the“Company”or“R&F”,together with its subsidiaries,the“Group”)dated 31 March 2022 in relation to the unaudited annual results of the Group for the year ended 31 December 2021.The board of directors of the Company(the“Board”)is pleased to announce the audited consolidated annual results of the Group

4、for the year ended 31 December 2021.The annual results have been reviewed by the audit committee of the Company.2CHAIRMANS STATEMENTIn reviewing the last 12-month that passed,financial year 2021 was unprecedented in terms of challenges brought on by persistent COVID-19 pandemic,macroeconomic policie

5、s and financial difficulties surfacing at companies,leading to financial distress and significant reduction of liquidity.The turbulent operating conditions have made it difficult for management to adopt a long-term and consistent strategy as operating conditions became increasingly more difficult as

6、 the year progressed.Credit defaults from private and public corporates emerged late in 2020,have raised concerns and negative sentiment from commercial banks,investors,and consumers that typically would not be one-dimensional across the property sector.Commercial banks grew increasingly risk advers