03883中國奧園 中期报告.ppt

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1、(Incorporated in the Cayman Islands with limited liability),（於開曼群島註冊成立之有限公司）,HKEx Stock Code 香港聯交所上市編號：3883,Interim Report 2011 中期報告,Building a healthy,low-carbon lifestyle,構築低碳,健康生活,ChinaAoyuanPropertyGroupLimited中國奧園地產集團有限公司,GROUP INTRODUCTIONChina Aoyuan Property Group Limited(“Aoyuan”or the“Comp

2、any”)and its subsidiaries(the“Group”)have beendeveloping residential projects for over ten years with innovativeconcept of composite property,incorporating healthy livingconcepts of low carbon,sports and regimen into residentialcommunities.Thereafter,the Group introduced the CathayCapital Group,a US

3、 investment fund,as one of its substantialshareholders,and the Company was listed on the Main Boardof The Stock Exchange of Hong Kong Limited(the“StockExchange”)on 9 October 2007(Stock Code:3883).The real estate projects currently held by the Group are mainlylocated in Guangdong and Shenyang;as well

4、 as Beijing,Jiangsu,Chongqing,Guangxi and Jiangxi,which have created excellentand comfortable living environment for property owners.TheGroups strategy is to implement regional focus on the five majoreconomical circles as its core regions in PRC,namely Pearl RiverDelta,Yangtze River Delta,Bohai Rim,

5、Beibuwan as well asCentral and Western China.The Group has affirmed its future development direction:adhering to its development concept of“Building a healthy,low-carbon lifestyle”by delivering a low carbon and healthy livingenvironment through its product strategy of“creating differentstyles of hea

6、lthy,low-carbon residence”while formulating a“low-carbon and healthy residence”technology supporting system.Considering the regional differences in the use of low-carbontechnologies,Aoyuan will selectively apply such concept inaccordance with different features of the respective projects andincorpor

7、ate the brand concept of“low-carbon and health”intoits project development,striving to provide its customers withsuperior products and create a healthy lifestyle.The art of architecture is based on living,and health is the keyto living well.In June 2011,Aoyuan Health City developed bythe Group offic

8、ially opened for business,symbolized the startof modern healthy lifestyle initiated by Aoyuan.“Health”and“Regimen”is becoming the key driver and source of sustainablegrowth of the appreciation of brand value of Aoyuan.,集團簡介中國奧園地產集團股份有限公司（奧園或本公司）及其附屬公司（本集團）十多年來致力以創新的複合理念開發房地產項目，把低碳、運動、養生的健康生活概念帶入居住社區

9、。其後，本集團引入美國投資基金國泰財富成為主要股東之一，並於二零零七年十月九日在香港聯合交易所有限公司（聯交所）主板上市（股份代號：3883）。本集團持有的房地產項目主要分佈於廣東及瀋陽，以及北京、江蘇、重慶、廣西及江西等，為業主創造了優越及舒適的居住條件。本集團的戰略布局，以珠三角、長三角、環渤海、北部灣和中西部等內地五大經濟圈為核心，實施區域聚焦。本集團確立了今後的發展方向：秉持構築低碳健康生活的開發理念，打造低碳、養生居所。本集團採用打造不同系列低碳健康住宅的產品策略，在產品研發上建立了一整套低碳健康住宅技術支持體系，充分考慮低碳技術地區的差異化，因地制宜，根據各個項目的不同特點有選擇性

10、地應用，將低碳健康的品牌理念貫徹到項目的開發建設中，致力於為客戶提供一流的產品和創造健康的生活方式。建 築 以 生 活 為 本，生 活 以 健 康 為 源。二 零一一年六月本集團旗下奧園養生城正式營業，標 志 著 奧 園 倡 導 的 現 代 健 康 生 活 的 開啟，健康和養生正在成為奧園品牌價值增長的持續動力和源泉。,2,5,7,33,34,36,37,40,66,Contents 目錄,Corporate InformationEvents in the First Half of 2011Management Discussion and Analysis,公司資料2011 年上半年大事

11、回顧管理層討論及分析,Land BankMajor ProjectsIndependent Review ReportCondensed Consolidated Statement ofComprehensive IncomeCondensed Consolidated Statement of Financial PositionCondensed Consolidated Statement of Changes in EquityCondensed Consolidated Statement of Cash FlowsNotes to the Condensed Consolidat

12、edFinancial StatementsDirectors and Chief Executives Interests in SecuritiesSubstantial Shareholders InterestsOthers,土地儲備重點項目獨立審閱報告簡明綜合全面收益表簡明綜合財務狀況表簡明綜合權益變動表簡明綜合現金流量表簡明綜合財務報表附註董事及主要行政人員於證券之權益主要股東權益其他,2022317679,ChinaAoyuanPropertyGroupLimited中國奧園地產集團有限公司,2,Corporate Information 公司資料,DIRECTORSExecut

13、ive DirectorsMr.Guo Zi Wen(chairman)Mr.Guo Zi Ning(vice chairman and chief executive officer)Mr.Yang Zhong(chief operating officer)Mr.Lam Kam Tong(chief financial officer)Ms.Xin ZhuMr.Hu Da WeiNon-executive DirectorsMr.Wu Jie Si(vice chairman)Mr.Paul Steven WolanskyIndependent Non-executive Director

14、sMr.Ma Kwai YuenMr.Song Xian ZhongMr.Tsui King FaiMr.Cheung Kwok KeungREGISTERED OFFICECricket Square,Hutchins Drive,P.O.Box 2681,Grand Cayman,KY1-1111,Cayman IslandsPRINCIPAL PLACE OF BUSINESS IN THE PRCAoyuan Mansion,No.108,HuangPu Avenue West,Tianhe District,Guangzhou,PRC,董事執行董事郭梓文先生（主席）郭梓寧先生（副主席

15、兼行政總裁）楊忠先生（營運總裁）林錦堂先生（首席財務官）辛珠女士胡大為先生非執行董事武捷思先生（副主席）保爾 渥蘭斯基先生獨立非執行董事馬桂園先生宋獻中先生徐景輝先生張國強先生註冊辦事處Cricket Square,Hutchins Drive,P.O.Box 2681,Grand Cayman,KY1-1111,Cayman Islands中國主要營業地點中國廣州天河區黃埔大道西 108 號奧園大廈,InterimReport2011二零一一中期報告,3,Corporate Information 公司資料,PLACE OF BUSINESS IN HONG KONGRoom 5105,51

16、/F,The Center,99 Queens Road Central,Hong KongCOMPANY WEBSITEhttp:/COMPANY SECRETARYMr.Lam Kam TongAUTHORIZED REPRESENTATIVESMr.Guo Zi WenMr.Guo Zi NingMEMBERS OF THE AUDIT COMMITTEEMr.Ma Kwai Yuen(chairman)Mr.Song Xian ZhongMr.Tsui King FaiMr.Cheung Kwok KeungMEMBERS OF THE REMUNERATIONCOMMITTEEMr.

17、Tsui King Fai(chairman)Mr.Ma Kwai YuenMr.Cheung Kwok KeungMEMBERS OF THE NOMINATIONCOMMITTEEMr.Guo Zi Wen(chairman)Mr.Ma Kwai YuenMr.Song Xian ZhongMr.Tsui King FaiMr.Cheung Kwok Keung,香港營業地點香港皇后大道中 99 號中環中心 51 樓 5105 室公司網址http:/公司秘書林錦堂先生授權代表郭梓文先生郭梓寧先生審核委員會成員馬桂園先生（主席）宋獻中先生徐景輝先生張國強先生薪酬委員會成員徐景輝先生（主席）馬

18、桂園先生張國強先生提名委員會成員郭梓文先生（主席）馬桂園先生宋獻中先生徐景輝先生張國強先生,ChinaAoyuanPropertyGroupLimited中國奧園地產集團有限公司,Corporate Information 公司資料,4,PRINCIPAL BANKERSAgricultural Bank of China LimitedBank of China LimitedChina Merchants Bank Co.,Ltd.Bank of Communications Co.,Ltd.Industrial and Commercial Bank of China LimitedNa

19、nyang Commercial Bank LimitedChina Construction Bank CorporationPRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICEButterfield Fund Services(Cayman)LimitedButterfield House,68 Fort Street,P.O.Box 705,Grand Cayman KY1-1107,Cayman IslandsHONG KONG BRANCH SHARE REGISTRARAND TRANSFER OFFICEComputershare Hong K

20、ong Investor Services Limited17 M Floor,Hopewell Centre,183 Queens Road East,Wanchai,Hong Kong,主要往來銀行中國農業銀行股份有限公司中國銀行股份有限公司招商銀行股份有限公司交通銀行股份有限公司中國工商銀行股份有限公司南洋商業銀行有限公司中國建設銀行股份有限公司股份過戶登記總處Butterfield Fund Services(Cayman)LimitedButterfield House,68 Fort Street,P.O.Box 705,Grand Cayman KY1-1107,Cayman I

21、slands香港股份過戶登記分處香港中央證券登記有限公司香港灣仔皇后大道東 183 號合和中心17M 樓,InterimReport2011二零一一中期報告,典。,Events in the First Half of 20112011年上半年大事回顧,FebruaryThe Group successfully bidded a piece ofland for commercial and residential use atminimum bidding price of RMB144 million inYunhan Village,Shaxi,Zhongshan.The grand

22、opening ceremony of“AoyuanMansion”in Zhujiang Xincheng of Guangzhouwas held.,MarchThe Group was awarded with“GuangdongProvince Enterprise of Observing Contractand Valuing Credit”by GuangzhouAdministration for Industry and Commenceand Guangzhou Contract AdministrationAssociation for the 12th consecut

23、ive year.The Group acquired a piece of land for,AprilA grand foundation laying ceremony was heldfor Zhongshan Aoyuan Jinyu Project.The sales of Aoyuan Hai Jing Cheng Phase2 commenced.,commercial and residential use in Kunshan,Jiangsu Province at a total consideration ofRMB383 million.5,2,3,4,二月本集團以底

24、價約人民幣 1.44 億元，成功投得一幅位於中山市沙溪鎮雲漢村的商住用地。入駐廣州珠江新城奧園大廈揭幕儀式隆重舉行。,三月本集團連續十二年榮獲由廣州市工商行政管理局、廣州市合同管理協會公示頒發的廣東省守合同重信用企業榮譽稱號。本集團收購一幅位於江蘇省昆山市的商 住 用 地，總 代 價 為 人 民 幣 3.83 億元。,四月中山奧園 金域項目隆重舉行奠基盛奧園 海景城二期隆重開盤。,ChinaAoyuanPropertyGroupLimited中國奧園地產集團有限公司,Events in the First Half of 20112011年上半年大事回顧,May,June,Phase 2 of

25、 Aoyuan Plaza,Phase 2 of ZhongshanAoyuan“Aoyuan Galaxy”and the two newproducts of Shenyang Aoyuan The Metropoliswere launched.The Group successfully bidded a piece ofquality land for commercial use in PanyuDistrict,Guangzhou at minimum bidding priceof RMB520 million,and which Aoyuan HealthPlaza will

26、 be built.,The Group was one of the four large-scaleGuangdong property enterprises which havewon the award“The 10th(2011)Top 20Guangdong Property Enterprises with HighCredit”for ten consecutive years and alsowon the award“Property Enterprises withHigh Credit for 10 Consecutive Years”.,The grand open

27、ing ceremony of AoyuanHealth City was held.Its opening symbolizesthe start of the Aoyuan way of modern andhealthy lifestyle.Aoyuan was awarded“Top 50 ChineseReal Estate Listed Companies inComprehensive Strength”by the NationalInstitute of Property and Finance.Multi-business retail street in Shenyang

28、,Aoyuan The Metropolis was newlylaunched.6,五月,5,六月,6,奧園廣場二期、中山奧園二期奧園星河及瀋陽奧園 國際城兩大新品組團均公開發售。本集團以底價約人民幣 5.2 億元，成功競得廣州市番禺區一幅優質商用地塊，地塊將打造成為奧園養生廣場。,本集團為四家榮獲第十屆（2011 年度）廣東地產資信20強稱號的大型廣東省房地產企業之一，連續十年蟬聯該項榮譽，並且獲得十年卓越資信房企的榮譽。,奧園養生城開業慶典隆重舉行。它的開業，標志著奧園模式的現代健康生活開啟。奧園獲評為由中國地產金融研究院頒發的中國地產上市公司綜合實力 50強。瀋陽奧園 國際城全新推出多

29、業態商街。,InterimReport2011二零一一中期報告,溫。,Management Discussion and Analysis 管理層討論及分析,BUSINESS REVIEWDuring the first half of 2011,the worlds overall economic growthshowed signs of slowdown,the worsening of the Euro Zonesovereignty debt crisis,the corresponding slow down of the USeconomy and the inflation

30、problem around the world becameeven more severe.Under the economic uncertainty around theworld,although the economy of China maintained a stable growth,inflationary pressure were still notable.The Central government isdetermined to suppress the rising property price and inflation andtightening measu

31、res on the property market continued,such asthe“Eight Measures of the State Council”,the pilot programmeon property tax reform and new rounds of properties purchase,業務回顧2011 年上半年，全球整體經濟增長放緩的迹象較為明顯，歐洲主權債務危機再度擴大，美國經濟亦再度放緩，全球通脹形勢加劇。在全球不明朗經濟的環境下雖然中國內地經濟增長保持穩定，但通脹壓力依然顯著，中央政府遏制房價持續上漲和防止通貨膨脹等的 態 度 堅 定，房 地

32、產 市 場 調 控 政 策 持 續 出臺：國八條實施、房產稅試點改革及新一輪 限購令。政府密集出臺的調控政策效果初步顯現，房價快速上漲基本得到遏制，主要城市成交量處於低位、土地市場明顯降,restrictions.The tightening measures introduced by the Centralgovernment are seen to have effects and the soaring propertyprice is suppressed basically.The transaction volume in majorcities returns to a low

33、er level and the land market has been cooleddown effectively.7,In the midst of tightening measures imposed by the governmentand purchase restrictions,the Group was responsive to the marketconditions and promptly adjusted its marketing strategy,resultingin a significant increase and a record high in

34、contracted sales inthe first half of the year.The total contracted sales of the Groupexceeded RMB2,341.6 million,representing a significant increaseof approximately 95.6%as compared with the correspondingperiod last year.The average selling price for the contracted saleswas approximately RMB9,220 pe

35、r sq.m.The Group maintained astrong sales momentum with a 141%increase in total contractedsale areas to approximately 254,000 sq.m.in the first half of theyear.,儘管政府調控嚴厲，市場受限，本集團憑藉對市場的高敏感度，適時調整營銷策略，上半 年 的 合 約 銷 售 額 實 現 大 幅 增 長，創 下 新高，總合同銷售額已超越人民幣 2,341.6 百萬元，較去年同期大幅躍升約 95.6%，而合同銷售平均售價約為每平方米人民幣 9,220

36、元。本集團上半年總合同銷售面積顯著增加141%至約 25.4 萬平方米，銷售勢頭強勁。,ChinaAoyuanPropertyGroupLimited中國奧園地產集團有限公司,Management Discussion and Analysis 管理層討論及分析,Details of contracted sales breakdown by major projects are asfollows:,按主要項目劃分之合約銷售詳情如下：,Sales Area銷售面積(000 sq.m.),Sales Revenue銷售收入(RMB million),（千平方米）（人民幣百萬元）,Project

37、,項目,Shenyang Aoyuan The MetropolisAoyuan Hai Jing ChengZhongshan AoyuanAoyuan PlazaNansha AoyuanJiangmen AoyuanYulin AoyuanOthers,瀋陽奧園 國際城奧園 海景城中山奧園奧園廣場南沙奧園江門奧園玉林奧園其它,48.844.043.411.516.925.424.239.8,407.8379.5358.0337.4241.8184.7112.9319.5,8,Total,合計,254.0,2,341.6,At the same time,by virtue of the

38、strong financial position,theGroup proactively grasped the development opportunity in theproperty market.The Company made several land acquisitionsduring the first half of the year,including new projects in Panyuin Guangzhou,Zhongshan,and Kunshan in Jiangsu of totalGFA of approximately 574,000 sq.m.

39、of land bank,speeding upits countrywide development.The Group also entered into anagreement to acquire a project in Suzhou for a consideration ofRMB450.0 million.The strategic advantages of property projects with regimenand health themes advocating by Aoyuan have become moreapparent in the diversify

40、ing property market.Aoyuan Health City,a representative of Aoyuans healthy and low-carbon concept ofdevelopment commenced operation in June.The brand conceptof the Group of“Building a healthy,low-carbon lifestyle”wasrealized and ascribed with a new interpretation.,同時，本集團憑藉穩健的財務狀況，積極捕捉房地產市場的發展機會，上半年在

41、土地市場收購多個項目，新增包括位於廣州番禺、中山及江蘇昆山在內的項目總建築面積約共57.4 萬平方米的土地儲備，加速全國布局。本集團亦訂立了協議以代價人民幣4.5億元收購一個位於蘇州的項目。奧園所倡導的養生健康主題地產在日趨多元化的房地產市場中優勢漸現。六月份，奧園低碳健康理念實踐代表作之一的奧園養生城正式營業，本集團構築低碳健康生活的品牌理念得到全新的演繹和具化。,InterimReport2011二零一一中期報告,9,Management Discussion and Analysis 管理層討論及分析,LAND BANKAs of 30 June 2011,the Group had a

42、 total of 21 projects and aland bank with total GFA of approximately 8,263,000 sq.m.andis mainly located in Guangdong,Shenyang,Jiangsu,Beijing,Guangxi,Chongqing and Jiangxi etc.It is the Groups strategy to maintain a superior land reserve withlow cost.The average cost per GFA for the land bank as of

43、 30 June2011 is approximately RMB590 per sq.m.,and of which 675,000sq.m.represents completed property,1,502,000 sq.m.is underdevelopment and 6,086,000 sq.m.is held for future developmentpurpose.The management believes that existing land reserve cansatisfy the Groups property development needs in the

44、 next five toseven years.The Group strives to seize excellent mergers and acquisitionsopportunities in the market and continues to focus in areas withstrong rigid demand and huge growth potentials.By activelycoordinating with the“Three Redevelopment Work”carried outby the government,the Group strive

45、s to acquire those land parcelswith huge potential at lower consideration in order to build up areserve for prime developments.FUTURE OUTLOOKFacing with the pessimistic economic environment around theworld,the continuing government tightening measures in Chinain the second half of the year and the t

46、remendous pressurecreated accordingly,the Group will insist on its established annualoperation plan and project for the purpose of maximizing its overallprofit margin.The Group will continue to develop commercial andresidential properties in parallel and effectively utilize this conceptto ensure the

47、 sales growth of the Group.,土地儲備截止於二零一一年六月三十日，本集團擁有合共 21 個項目及總建築面積約為 826.3 萬平方米的土地儲備，主要位於廣東、瀋陽、江蘇、北京、廣西、重慶及江西等。本集團的策略是以較低的成本維持優質的土地儲備。於二零一一年六月三十日，土地儲備的每平方米建築面積的平均成本約為人民幣 590 元，其 中 67.5 萬 平 方 米 為 已 竣 工 物業，150.2 萬平方米處於在建階段，608.6 萬平方米為持作未來發展土地。管理層相信現有土地儲備可滿足本集團未來五至七年之項目發展需要。本集團致力把握市場上優質的併購機遇，繼續 集 中 於 剛

48、 性 需 求 旺 盛、增 長 潛 力 大 的 地區，積極配合政府加強三舊改造工作，力爭以較低的代價奪得具有發展潛力的地塊，為本集團儲備優質發展項目。未來展望面對下半年全球經濟環境依然不容樂觀，和國內繼續從緊的政府調控及藉此帶來的市場壓力，本集團將繼續堅持以既定的完成年度經營計劃和項目整體利潤率最大化為目標，繼續實行商住雙線發展，秉持有效利用該發展理念來保證本集團的銷售增長。,ChinaAoyuanPropertyGroupLimited中國奧園地產集團有限公司,10,持。,Management Discussion and Analysis 管理層討論及分析,During the period

49、,the Group acquired several commercial andresidential projects at prime locations and great appreciationpotential,to continue the success of the commercial sales modelof Aoyuan Plaza.The Shenyang Aoyuan Convention Plazain Shenyang,the Aoyuan Health Plaza in Guangzhou and theKunshan Aoyuan in Jiangsu

50、 acquired in the first half of the year willbe launched for sales in the second half of the year,in line with therapid development mode of Aoyuan,and will make a significantcontribution to the sales performance of the Group.With the opening of Aoyuan Health City,the Group will step upthe promotion o