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1、ANNUAL REPORTCONTENTS目錄2CORPORATE INFORMATION公司資料5CORPORATE PROFILE公司簡介7MAJOR EVENTS集團大事記22AWARDS AND HONOURS獎項及榮譽24CHAIRMANS STATEMENT主席報告29FINANCIAL HIGHLIGHTS財務摘要30MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析51CORPORATE GOVERNANCE REPORT企業管治報告82PROFILE OF DIRECTORS AND SENIOR MANAGEMENT董事及高級管理層履歷91
2、DIRECTORS REPORT董事會報告118INDEPENDENT AUDITORS REPORT獨立核數師報告125CONSOLIDATED STATEMENT OF PROFIT OR LOSS綜合損益表126CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME綜合損益及其他全面收益表127CONSOLIDATED STATEMENT OF FINANCIAL POSITION綜合財務狀況表129CONSOLIDATED STATEMENT OF CHANGES IN EQUITY綜合權益變動表1
3、31CONSOLIDATED CASH FLOW STATEMENT綜合現金流量表133NOTES TO THE FINANCIAL STATEMENTS財務報表附註235SUMMARY OF FINANCIAL INFORMATION財務資料概要CENTRAL CHINA MANAGEMENT COMPANY LIMITED 中原建業有限公司2023 ANNUAL REPORT 二零二三年年報CENTRAL CHINA MANAGEMENT COMPANY LIMITED 中原建業有限公司2CORPORATE INFORMATION公司資料BOARD OF DIRECTORSChairman
4、 and non-executive DirectorMr.Wu Po SumExecutive DirectorsMr.Hu BingMr.Chen Aiguo(appointed on 9 January 2023)Mr.Duan Juwei(appointed on 9 January 2023)Mr.Ma Xiaoteng(resigned on 9 January 2023)Non-executive DirectorMs.Wu Wallis(alias Li Hua)(resigned on 14 June 2024)Independent non-executive Direct
5、orsMr.Zhu Baoguo(resigned on 10 October 2024)Mr.Xu YingMr.Siu Chi Hung(retired on 30 May 2024)Mr.Liu Dianchen(appointed on 31 May 2024)Ms.Yan Yingchun(appointed on 27 December 2024)BOARD COMMITTEEAudit committeeMr.Liu Dianchen(chairman,appointed on 31 May 2024)Mr.Siu Chi Hung(chairman,retired on 30
6、May 2024)Mr.Zhu Baoguo(resigned on 10 October 2024)Mr.Xu YingMs.Yan Yingchun(appointed on 27 December 2024)Remuneration committeeMr.Zhu Baoguo(chairman,resigned on 10 October 2024)Ms.Yan Yingchun(chairman,appointed on 27 December 2024)Mr.Wu Po SumMr.Xu YingNomination committeeMr.Wu Po Sum(chairman)M
7、r.Zhu Baoguo(resigned on 10 October 2024)Mr.Xu YingMs.Yan Yingchun(appointed on 27 December 2024)REGISTERED OFFICE IN THE CAYMAN ISLANDSCricket SquareHutchins DriveP.O.Box 2681Grand Cayman KY11111Cayman Islands董事會主席兼非執行董事胡葆森先生執行董事胡冰先生陳愛國先生（於2023年1月9日獲委任）段居偉先生（於2023年1月9日獲委任）馬曉騰先生（於2023年1月9日辭任）非執行董事李樺
8、女士（於2024年6月14日辭任）獨立非執行董事朱保國先生（於2024年10月10日辭任）徐穎先生蕭志雄先生（於2024年5月30日退任）劉殿臣先生（於2024年5月31日獲委任）閆穎春女士（於2024年12月27日獲委任）董事委員會審核委員會劉殿臣先生（主席，於2024年5月31日獲委任）蕭志雄先生（主席，於2024年5月30日退任）朱保國先生（於2024年10月10日辭任）徐穎先生閆穎春女士（於2024年12月27日獲委任）薪酬委員會朱保國先生（主席，於2024年10月10日辭任）閆穎春女士（主席，於2024年12月27日獲委任）胡葆森先生徐穎先生提名委員會胡葆森先生（主席）朱保國先生（於
9、2024年10月10日辭任）徐穎先生閆穎春女士（於2024年12月27日獲委任）於開曼群島的註冊辦事處Cricket SquareHutchins DriveP.O.Box 2681Grand Cayman KY11111Cayman Islands2023 ANNUAL REPORT 二零二三年年報3CORPORATE INFORMATION公司資料PRINCIPAL PLACE OF BUSINESS AND HEADQUARTERS IN CHINARoom 212,313,Block CJianye Office BuildingNongye East RoadZhengzhou Ci
10、tyHenan ProvincePRCPRINCIPAL PLACE OF BUSINESS IN HONG KONG REGISTERED UNDER PART 16 OF THE COMPANIES ORDINANCEAddress with effect from 6 May 2024:Room 16021605,16/F,Tower 2,The Gateway,Harbour City,Tsim Sha Tsui,Kowloon,Hong KongCOMPANYS WEBSITECOMPANY SECRETARYMs.Ho Wing Nga(FCG HKFCG(PE)AUTHORIZE
11、D REPRESENTATIVES (UNDER THE LISTING RULES)Mr.Hu BingMs.Ho Wing NgaPRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE IN THE CAYMAN ISLANDSConyers Trust Company(Cayman)LimitedCricket SquareHutchins DriveP.O.Box 2681Grand Cayman KY11111Cayman Islands中國主要營業地點及總部中國河南省鄭州市農業東路建業總部港C座212、313室根據公司條例第16部登記的 香港主要
12、營業地點地址自2024年5月6日起生效：香港九龍尖沙咀海港城港威大廈2座16樓16021605室公司網站公司秘書何詠雅女士(FCG HKFCG(PE)上市規則項下授權代表胡冰先生何詠雅女士開曼群島主要股份過戶登記處Conyers Trust Company(Cayman)Limited Cricket SquareHutchins DriveP.O.Box 2681Grand Cayman KY11111Cayman IslandsCENTRAL CHINA MANAGEMENT COMPANY LIMITED 中原建業有限公司4CORPORATE INFORMATION公司資料HONG KO
13、NG BRANCH SHARE REGISTRARComputershare Hong Kong Investor Services LimitedShops 1712171617th Floor,Hopewell Centre183 Queens Road EastWanchai,Hong KongPRINCIPAL BANKSChina Everbright Bank,Zhengzhou Tianyun Street Sub-branchBank of China,Zhengzhou Jianye Road Sub-branchBank of China(Hong Kong)Limited
14、Industrial and Commercial Bank of China(Asia)LimitedLEGAL ADVISORS TO OUR COMPANYAs to Hong Kong lawHogan LovellsIu,Lai&Li Solicitors&Notaries with effect from 1 August 2024As to Cayman Islands lawConyers Dill&PearmanCOMPLIANCE ADVISOROpus Capital LimitedIgnite Capital(Asia Pacific)Limited with effe
15、ct from 6 December 2024INDEPENDENT AUDITORSPrism Hong Kong LimitedWith effect from 15 October 2024Public Interest Entity Auditor registered in accordance with theAccounting and Financial Reporting Council OrdinanceSHAREHOLDERS INFORMATIONShare listingThe Companys shares are listed on the Main Board
16、of The StockExchange of Hong Kong LimitedOrdinary Shares(as at 31 December 2023)Issued shares:3,691,302,120 sharesNominal value:HK$0.01 per shareINVESTOR RELATIONS CONTACT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17樓17121716號舖主要往來銀行中國光大銀行鄭州天韻街支行中國銀行鄭州建業路支行中國銀行（香港）有限公司中國工商銀行（亞洲）有限公司本公司的法律顧問有關香港法律霍金路偉律師行
17、姚黎李律師行自2024年8月1日起生效有關開曼群島法律康德明律師事務所合規顧問創富融資有限公司Ignite Capital(Asia Pacific)Limited 自2024年12月6日起生效獨立核數師栢淳會計師事務所有限公司自2024年10月15日起生效於會計及財務匯報局條例下的註冊公眾利益實體核數師股東資料股份上市本公司股份於香港聯合交易所有限公司主板 上市普通股（於2023年12月31日）已發行股份：3,691,302,120股面值：每股0.01港元投資者關係聯絡電郵2023 ANNUAL REPORT 二零二三年年報5CORPORATE PROFILE公司簡介中原建業有限公司（下稱
18、CCMGT 或 本公司，連同其附屬公司統稱 本集團，股票編號：9982.HK）於2020年10月22日在開曼群島註冊成立為獲豁免有限公司，並於2021年5月31日在香港聯合交易所有限公司（聯交所）主板上市。本集團房地產代建業務主要由本公司全資子公司河南中原建業城市發展有限公司（中原建業）及中原建業（海南）管理服務有限公司（中原建業（海南）負責開展。經過多年發展，中原建業已具備獨立的資金、建設、管理等能力，尤其在業務模式、運營邏輯、工程建設、合作方資源管理等層面已走出一條自主化、全國化、規模化、專業化的發展路徑。截至2023年12月31日，中原建業代建項目遍佈全國9個省份及自治區，134個縣及縣
19、級以上城市，擁有合作夥伴223位，合作項目418個，累計規劃計容面積約5,309萬平方米，重複合作率達62%，服務業主超40萬。中原建業積累了成熟的營銷、管理團隊，並通過成熟的開發能力、品牌優勢，為合作夥伴項目帶來較高的溢價能力，平均售價較競品高出10%。目前中原建業已形成商業代建、政府代建、資本代建、管理諮詢四大業務結構。傳統商業代建是中原建業的核心業務，合作資源廣、業務佔比高、利潤實現強；隨著業務的發展，公司已開始重點推進政府代建業務，業務類型涉及傳統政府代建模式、合資平台模式、股權交易模式三大類模式。公司目前已與周口城投、鄲城城投、伊川城投、南陽高新城投、上蔡縣財政局、河南省機場集團等省
20、內27家政府平台公司、8家國企達成戰略合作，且有意向項目跟進。Central China Management Company Limited(hereinafter referred to as“CCMGT”or the“Company”,together with its subsidiaries,the“Group”,stock code:9982.HK)was incorporated in the Cayman Islands on 22 October 2020 as an exempt company with limited liability,the shares of wh
21、ich were listed on the Main Board of The Stock Exchange of Hong Kong Limited(the“Stock Exchange”)on 31 May 2021.The project management business of the Group is primarily carried out by Henan Zhongyuan Central China City Development Limited(“Zhongyuan Jianye”)and Zhongyuan Central China(Hainan)Manage
22、ment Services Co.,Ltd.(“Zhongyuan Jianye(Hainan)”),the Companys wholly-owned subsidiaries.After years of development,CCMGT has possessed independent capital,construction and management capabilities,and embarked on a path of independent,national,large-scale and professional development,especially in
23、the business model,operation logic,engineering construction and partner resource management.As of 31 December 2023,project management projects of CCMGT spread across 134 counties and cities above county level in 9 provinces and autonomous regions.It cooperated with 223 partners on 418 projects,with
24、a total planned capacity area of approximately 53.09 million square meters(“sq.m.”),and a repeat cooperation rate of 62%.It served over 400,000 property owners.CCMGT has accumulated a mature marketing and management team.Through its mature development capabilities and brand advantages,the Company ha
25、s brought higher premiums to its partners projects,with an average selling price 10%higher than that of its competitors.Currently,CCMGT mainly operates businesses in commercial project management,government project management,capital project management and management consulting.Traditional commercia
26、l project management is the core business of CCMGT,with extensive cooperation resources,high business share and strong profit realization.With business development,the Company has begun to focus on promoting the government project management business,which involves three major business models:the tr
27、aditional government project management model,the joint venture platform model,and the equity trading model.At present,the Company has forged strategic partnerships with 27 governmental platform companies and 8 state-owned enterprises in Henan,including Zhoukou Chengtou,Dancheng Chengtou,Yichuan Che
28、ngtou,Nanyang Gaoxin Chengtou,Finance Bureau of Shangcai County,and Henan Province Airport Group.There were intentional projects followed up.CENTRAL CHINA MANAGEMENT COMPANY LIMITED 中原建業有限公司6CORPORATE PROFILE公司簡介Relying on years of development experience,CCMGT officially released a brand-new project
29、 management trust system called the CCMGT Project Management C Platform in September 2023.The CCMGT Project Management C Platform is a revolutionary exploration and attempt of CCMGT on the basis of its improved brand premium and management capability.It links and builds an institutional partnership
30、platform,a financial linking platform,a digital management efficiency enhancement platform,a supply chain empowerment platform,and a think-tank sharing platform.Innovation was made in cooperation models in the development of areas,capital project management,government project management and the revi
31、talization of relief projects.It established advantages in platform cooperation,created value through cooperation,and won the trust of property owners,governments,capitalists,partners,clients,and industry peers.CCMGT paid special attention to the communication and exchange with its partners,and in t
32、he course of project management,it takes“ensuring the success of each project,the satisfaction of each partner and the sustainability of the cooperation”as the standard of its work,so as to continue to provide partners with more quality services.Every time CCMGT enters a city,every product built for
33、 the city is committed to creating a new business card for the local city.Innovating a new lifestyle for local people;Improving the construction level of cities together with local developers;Paying more tax to local governments;Being a good propagandist of cities by fitting into them.In the future,
34、CCMGT will,based on innovative ideas and modes of cooperation,continue to link resources from various parties with trust,and build a cooperation platform that achieves a win-win situation for all parties through synergistic development,in a bid to realise multi-dimensional values on the government,c
35、apital,partner,user and enterprise levels.The Group will fulfil the corporate mission of“Building quality lives for the people of Central China”and continuously promote the strategic development of Central China Group to facilitate the urban construction and upgrading in China.依托多年發展經驗，中原建業於2023年9月正
36、式對外發佈全新的代建信賴體系 中原建業代建C平台。中原建業代建C平台是中原建業在品牌溢價能力、管理紅利能力不斷疊加的基礎上，進行的一次革新化的探索和嘗試，鏈接並打造制度合夥平台、金融鏈接平台、數字化管理增效平台、供應鏈賦能平台、智庫分享平台，在片區開發、資本代建、政府代建、紓困項目盤活等方面創新合作模式，形成平台合作優勢，以合作創造價值，共同贏取業主、政府、資本市場、合作方、客戶以及行業的信賴。中原建業特別注重與合作夥伴的溝通與交流，在項目操盤的過程中以 確保每一個項目都成功，確保每一位合作夥伴都滿意、確保合作可持續為工作標準，持續為合作夥伴提供更為優質的服務。中原建業每進駐一個城市，為其建造
37、的每一個產品都致力於為當地城市打造一張新的名片；為當地老百姓創造一種新型生活方式；與當地的開發商一起提高這個城市的建設水平；為當地政府上繳更多稅金；融入城市，當好這個城市的宣傳員。未來，中原建業繼續以創新思路、創新模式，用信賴鏈接各方合作資源，打造通過協同發展、實現多方共贏的合作平台，實現政府層面、資本層面、合作夥伴層面、用戶層面、企業層面等多維價值；繼續貫徹 讓中原人民都過上好生活 的企業使命，持續推動建業集團戰略的縱深發展，助力中國城鎮化的建設與升級。2023 ANNUAL REPORT 二零二三年年報7MAJOR EVENTS集團大事記1.CENTRALISED CONTRACT SIG
38、NING CEREMONY AND THE PARTNER APPRECIATION EVENT WAS HELD IN JANUARY 2023 2023年1月中原建業集中簽約儀式暨合作夥伴答謝會成功舉行The centralised contract signing ceremony for CCMGTs 27 projects and the partner appreciation event was successfully held at Unique Henan on 10 January 2023.This time,contracts on 27 projects were
39、centrally signed,with a total estimated capacity area of 3,544,300 sq.m.There were six government project management projects,accounting for 43%of the total estimated capacity area of the contracted projects.Among the 27 projects signed centrally,24 projects were in Henan Province,with a total estim
40、ated capacity area of 3,253,100 sq.m.Three projects were located in provinces other than Henan,with a total estimated capacity area of 291,200 sq.m.,all of which are projects under framework agreements.2023年1月10日，中原建業27個項目集中簽約儀式暨合作夥伴答謝會在只有河南成功舉行。本次共計集中簽約27個項目，預計總計容面積354.43萬平方米。其中政府代建項目6個，佔總簽約項目預計計容面
41、積的43%；集中簽約的27個項目中，河南省內項目24個，預計總計容面積325.31萬平方米；省外簽署3個項目，預計總計容面積29.12萬平方米，均為框架協議項目。CENTRAL CHINA MANAGEMENT COMPANY LIMITED 中原建業有限公司8MAJOR EVENTS集團大事記2.SINOLINK SECURITIES LED AN INVESTOR GROUP TO CCMGT FOR EXCHANGE AND STUDY 國金證券率投資人團赴中原建業交流調研On 7 February 2023,Sinolink Securities led an investor gro
42、up of about 20 people to CCMGT for exchange and study.The arrival of the investor group once again demonstrated the recognition of the industry and the market for the development model of CCMGT.2023年2月7日，國金證券率領20人左右的投資人團前往中原建業交流調研。此次投資人團的到來，再一次彰顯了行業、市場對中原建業發展模式的認可。2023 ANNUAL REPORT 二零二三年年報9MAJOR EV
43、ENTS集團大事記3.CHAIRMAN WU PO SUM LED A DELEGATION OF CCMGT CITY PARTNER COUNCIL IN VISITING CPC XUCHANG MUNICIPAL COMMITTEE AND MUNICIPAL GOVERNMENT AND HAD TALKS WITH PARTY SECRETARY SHI GENZHI 胡葆森董事長攜中原建業合夥人理事會一行拜訪許昌市委、市政府並同市委書記史根治開展工作會談On 22 February 2023,CCMGT City Partner Council held its 2023 cit
44、y walk and had talks with leaders of Xuchang City.The attendees include Shi Genzhi,Secretary of the CPC Xuchang Municipal Committee,Li Haifeng,a member of the Standing Committee and Secretary General of the CPC Xuchang Municipal Committee,Yang Zhaohui,Vice Mayor of Xuchang City,as well as executives
45、 from Xuchang City Investment Group,Xuchang Asset Management and Xuchang Chengtou.Directors and the Groups management team,including Mr.Wu Po Sum,Chairman of Central China Group,Mr.Wang Jun,CEO of CCMGT,Mr.Chen Aiguo,executive Director of CCMGT and rotating chairman of CCMGT City Partner Council,and
46、 Mr.Duan Juwei,executive Director of CCMGT,participated in the talks.2023年2月22日，中原建業合夥人理事會舉行2023年城市走訪活動並同許昌市領導開展工作會談。許昌市委書記史根治，市委常委、市委秘書長李海峰，副市長楊朝暉，許昌市投資集團、許昌市資產管理公司、許昌市城投發展集團出席了活動；建業集團董事長胡葆森，中原建業執行總裁王軍，中原建業執行董事、中原建業城市合夥人理事會輪值理事長陳愛國，中原建業執行董事段居偉等理事及集團管理團隊參加座談。CENTRAL CHINA MANAGEMENT COMPANY LIMITED
47、中原建業有限公司10MAJOR EVENTS集團大事記4.CCMGT WAS HONOURED AS ONE OF 2023 CHINA OUTSTANDING PROJECT MANAGEMENT OPERATION REAL ESTATE COMPANIES 中原建業榮獲 2023中國房地產代建運營優秀企業The Press Conference for Research Results of 2023 China Top 100 Real Estate Enterprises cum the 20th China Top 100 Real Estate Entrepreneurs Sum
48、mit was held in Beijing on 16 March.CCMGT was recognised as one of the 2023 China Outstanding Project Management Operation Real Estate Companies for its strong business operations,exemplary delivery capabilities,and highly regarded customer reputation.Additionally,CCMGT was commended for its innovat
49、ive business model and influential brand presence.3月16日，2023中國房地產百強企業研究成果發佈會暨第二十屆中國房地產百強企業家峰會 在北京召開。中原建業憑借穩健的企業經營、優秀的交付實力以及良好的客戶口碑，不斷創新業務模式、擴大的品牌影響力，榮獲 2023中國房地產代建運營優秀企業。2023 ANNUAL REPORT 二零二三年年報11MAJOR EVENTS集團大事記5.HIGH NET PROFIT MARGIN AND HIGH DIVIDEND CCMGT ANNOUNCED 2022 ANNUAL RESULTS 高淨利率、高
50、分紅，中原建業2022年度業績發佈On 21 March,CCMGT(09982.HK)held the 2022 annual results press conference.Despite the resurgence of COVID-19 in 2022,the real estate market under pressure,various parties entry in the project management field,and the intensified industry competition,CCMGT,by leveraging on the leading
51、 asset-light business model,saw high-quality development with a high net profit margin and the synergistic development of diversified businesses during the year ended 31 December 2022.3月21日，中原建業(09982.HK)召開2022年全年業績發佈會，在2022年疫情反覆，房地產市場整體承壓以及各方持續湧入代建賽道，行業競爭不斷加劇的背景下，憑借領先的輕資產商業模式化，中原建業於截至2022年12月31日止年度
52、實現高淨利潤率、多元業務協同並進的高質量發展格局。CENTRAL CHINA MANAGEMENT COMPANY LIMITED 中原建業有限公司12MAJOR EVENTS集團大事記6.PURSUING GROWTH AND OPENING UP A NEW CHAPTER CCMGTS 2023 SECOND CENTRALISED CONTRACT SIGNING CEREMONY WAS SUCCESSFULLY HELD 追光築城再啟新篇 2023年中原建業第二次集中簽約儀式成功舉行On 9 April 2023,the 2023 second centralised signin
53、g ceremony of CCMGT was successfully held at Unique Henan.Contracts on 21 projects were signed,with a total capacity area of 1.9515 million sq.m.There were 13 government project management projects,with a capacity area of 1.2162 million sq.m.Seven projects were located in provinces other than Henan,
54、with a capacity area of 619,300 sq.m.;There was one capital project management contract,with a capacity area of 116,000 sq.m.2023年4月9日，中原建業2023年第二次集中簽約儀式在只有河南成功舉行。本次簽約共21個項目，計容面積195.15萬平方米。其中政府代建項目13個，計容面積121.62萬平方米；省外項目7個，計容面積61.93萬平方米；資本代建項目1個，計容面積11.6萬平方米。2023 ANNUAL REPORT 二零二三年年報13MAJOR EVENTS集
55、團大事記7.CCMGT WAS HONOURED AS 2023 CHINAS TOP 5 PROJECT MANAGEMENT SERVICE PROVIDERS WITH COMPREHENSIVE STRENGTH 中原建業榮膺 2023中國代建服務商綜合實力TOP5On 3 August,the 2023 China Real Estate Strategy Summit organised by EH Consulting was held in Shanghai,at which the list of 2023 Chinas Project Management Service
56、Providers with Comprehensive Strength was released.The organiser comprehensively evaluates project management enterprises in five dimensions,namely,business development capability,development and operation capability,brand building capability,system building capability and resource coordination capa
57、bility.CCMGT was honoured as one of 2023 Chinas Top 5 Project Management Service Providers with Comprehensive Strength for its outstanding operational and service capabilities.8月3日，由億翰智庫主辦的 2023中國房地產業戰略峰會 在上海舉辦，並在會上發佈2023中國代建服務商綜合實力榜單。主辦方從企業業務拓展能力、開發運營能力、品牌建設能力、體系建設能力、資源統籌能力五個維度對代建企業進行全面評價。中原建業以出眾的運
58、營能力、服務能力榮獲 2023中國代建服務商綜合實力TOP5。CENTRAL CHINA MANAGEMENT COMPANY LIMITED 中原建業有限公司14MAJOR EVENTS集團大事記8.CCMGT WAS NAMED ONE OF THE 2023 TOP 10 BRANDS OF CHINA REAL ESTATE ESTATE PROJECT MANAGEMENT ENTERPRISES 中原建業入選 2023中國房地產代建企業品牌10強On 3 August,the organiser released the list of the 2023 Top 10 Brands
59、 of China Real Estate Estate Project Management Enterprises at the 2023 13th China Real Estate Brand Development Conference jointly held by China Real Estate Business and China Urban&Regional Governance Research Institute.CCMGT came second by virtue of its comprehensive strength.8月3日，在由中國房地產報、中國城市與區
60、域治理研究院聯合主辦的 2023第十三屆中國房地產品牌發展大會 上，主辦方發佈了 2023中國房地產代建企業品牌10強 榜單，中原建業憑借綜合實力入選，位列第二。2023 ANNUAL REPORT 二零二三年年報15MAJOR EVENTS集團大事記9.CCMGT WAS SELECTED AS ONE OF THE OUTSTANDING COMMERCIAL PROJECT MANAGEMENT ENTERPRISES IN CHINAS REAL ESTATE SECTOR IN H1 2023 中原建業入選 2023年上半年中國房地產優秀商業代建企業The 29th Real Est
61、ate and Financial Situation Summit themed on“Finding new ways with innovation”,organised by CRIC Research Center,was rounded off on 24 August.The Top 30 Project Management Enterprises in Chinese Real Estate Sector in terms of Comprehensive Capabilities in the First Half of 2023 were unveiled at the
62、summit,and CCMGT was selected for its comprehensive strength.Thanks to its excellent results in commercial project management,CCMGT was successfully selected as one of the Outstanding Commercial Project Management Enterprises in Chinas Real Estate Sector in H1 2023.8月24日，克而瑞研究中心主辦的 創新尋路探索新賽道 第29屆地產金
63、融形勢峰會圓滿舉行，峰會發佈了2023上半年中國房地產代建企業綜合能力TOP30，中原建業憑借自身綜合實力入選榜單。得益於優秀的商業代建運營成績，中原建業成功入選 2023年上半年中國房地產優秀商業代建企業。CENTRAL CHINA MANAGEMENT COMPANY LIMITED 中原建業有限公司16MAJOR EVENTS集團大事記10.KEEPING ITS LEADING POSITION AND SEEING STEADY GROWTH,CCMGT ANNOUNCED 2023 INTERIM RESULTS 持續領先、穩健增長，中原建業2023年中期業績發佈CCMGT(099
64、82.HK)held a press conference to announce its 2023 interim results on 25 August.In the face of the ever-changing market,CCMGT continued to optimise its business strategies and actively expanded its service boundaries to achieve steady growth in its core business.8月25日，中原建業(09982.HK)召開2023年中期業績發佈會，面對
65、不斷變化的市場，中原建業持續優化經營策略，積極拓展服務邊界，實現核心業務的穩步增長。2023 ANNUAL REPORT 二零二三年年報17MAJOR EVENTS集團大事記11.WITH THREE MORE AWARDS,CCMGT LEADS THE DEVELOPMENT OF THE PROJECT MANAGEMENT INDUSTRY!再獲三項殊榮，中原建業持續引領代建行業發展！The Press Conference for Research Results of 2023 China Real Estate Brand Value cum the 20th China Rea
66、l Estate Brand Development Summit,organised by China Enterprise Evaluation Association,Institute of Real Estate Studies of Tsinghua University and Information Technology Research Institute of Beijing China Index Academy,and co-organised by China Real Estate Top 10 Research Group,was ceremoniously he
67、ld in Beijing on 14 September.Relying on product strength,CCMGT continuously promoted the research and development and launch of new products.The Company was honoured as one of 2023 Leading Brand of China Real Estate Project Management Companies,2023 Leading Brand of China Real Estate Government Pro
68、ject Management Companies and 2023 Leading Brand of China Real Estate Green Project Management Companies for its excellent products and services.9月14日，由中國企業評價協會、清華大學房地產研究所、北京中指信息技術研究院主辦，北京中指信息技術研究院中國房地產TOP10研究組承辦的 2023中國房地產品牌價值研究成果發佈會暨第二十屆中國房地產品牌發展高峰論壇 在北京隆重召開。中原建業以產品力突圍為導向，持續推進新產品系列研發及落地，憑借優秀的產品和服務
69、，同時榮獲 2023中國房地產代建領先品牌、2023中國房地產政府代建領先品牌、2023中國房地產綠色代建領先品牌 三項殊榮！CENTRAL CHINA MANAGEMENT COMPANY LIMITED 中原建業有限公司18MAJOR EVENTS集團大事記12.CCMGT UNVEILED PROJECT MANAGEMENT-RELATED TRUST SYSTEM 中原建業代建信賴體系發佈A working meeting of the project management branch of the China Real Estate Association themed on“G
70、athering in Central China and building the future together”,organised by China Real Estate Association and co-organised by Central China Group,was rounded off at Unique Henan,Land of Dramas on 24 September.At the meeting,Mr.Wang Jun,CEO of CCMGT,shared his experience in project management and releas
71、ed a brand-new upgraded project management trust system called CCMGT Project Management C Platform.CCMGT Project Management C Platform is a revolutionary exploration and attempt of CCMGT on the basis of its improved brand premium and management capability,which contains three major connotations of c
72、onfidence,connect and cooperation.It is a new model and new logic created by CCMGT for the future market.9月24日，由中國房地產業協會主辦，中原建業集團承辦的 聚首中原共建未來 中房協代建分會工作會議在只有河南 戲劇幻城圓滿落幕。會上，中原建業執行總裁王軍做代建經驗分享，並對外發佈全新升級的代建信賴體系 中原建業代建C平台。中原建業代建C平台是中原建業在品牌溢價能力、管理紅利能力不斷疊加的基礎上，進行的一次革新化的探索和嘗試，包含信賴、鏈接、利他三大內涵，是中原建業面對未來市場，構建的新模
73、式和新邏輯。2023 ANNUAL REPORT 二零二三年年報19MAJOR EVENTS集團大事記13.BUILDING A BETTER FUTURE CCMGT HELD THE CENTRALISED CONTRACT SIGNING CEREMONY CUM THE PARTNER APPRECIATION EVENT IN OCTOBER 2023 春華秋實建業未來 2023年10月中原建業集中簽約儀式暨合作夥伴答謝會成功舉行The centralised contract signing ceremony for CCMGTs 28 projects cum the partn
74、er appreciation event was held at Holiday Inn Nanyang on 21 October 2023.Contracts on 28 projects were centrally signed,with a total estimated capacity area of 3.8164 million sq.m.Among them,25 projects were about project management,and strategic agreements on 3 projects concerning the project manag
75、ement C platform were entered into.Of the 25 projects,21 projects were in Henan,with a total estimated capacity area of 3.365 million sq.m.,and the remaining 4 projects were located in other provinces,with a total estimated capacity area of 330,000 sq.m.2023年10月21日，中原建業28個項目集中簽約儀式暨合作夥伴答謝會在南陽建業森林半島假日
76、酒店舉行。本次共計集中簽約28個項目，預計總計容面積381.64萬平方米。其中代建項目簽約25個，代建C平台戰略協議項目簽約3個，25個代建項目中，河南省內項目21個，預計總計容面積336.5萬平方米；省外簽署4個項目，預計總計容面積33萬平方米。CENTRAL CHINA MANAGEMENT COMPANY LIMITED 中原建業有限公司20MAJOR EVENTS集團大事記14.CCMGT ATTENDED THE PROJECT MANAGEMENT SUB-FORUM OF THE 14TH CHINA REAL ESTATE SCIENTIFIC DEVELOPMENT FORU
77、M 中原建業出席中房協第十四屆科學發展論壇代建分論壇The project management sub-forum of the 14th China Real Estate Scientific Development Forum was successfully held in Hangzhou on 23 November.CCMGT attended the project management sub-forum and talked with government and association leaders,industry experts,and representativ
78、es of project management companies about new models and new development.A ceremony was held to appoint the chairman,executive chairman,vice chairman and deputy secretary of the project management branch of the China Real Estate Association at the sub-forum,and CCMGT was appointed as the deputy secre
79、tary unit.11月23日，第十四屆中國房地產科學發展論壇代建分論壇，在杭州市順利召開。中原建業出席代建分論壇並與政府及協會領導、行業專家、代建企業代表一起共話新模式，共商新發展。代建分論壇首先舉行了代建分會會長、執行會長、副會長及副秘書長的任職儀式，中原建業出任副秘書長單位。2023 ANNUAL REPORT 二零二三年年報21MAJOR EVENTS集團大事記15.CCMGT PROJECT MANAGEMENT C PLATFORMS SUPPLY CHAIN PLATFORM WAS OFFICIALLY LAUNCHED 中原建業代建C平台 供應鏈平台正式上線On 16 De
80、cember,the supply chain empowerment platform,one of the five concrete platforms of CCMGT C Platform,was officially launched.The platform provides a new channel for various suppliers to display their products,probe into enterprises procurement announcements,and hold talks on product cooperation.12月16
81、日，中原建業代建C平台五大具化平台之一 供應鏈賦能平台正式上線。平台上線為各類供應商提供產品展示、企業招採公告查勘、產品合作洽談等新渠道。CENTRAL CHINA MANAGEMENT COMPANY LIMITED 中原建業有限公司22AWARDS AND HONOURS獎項及榮譽12023 China Outstanding Project Management Operation Real Estate Companies2023 中國房地產代建運營優秀企業The selection was organised by China Enterprise Evaluation Associ
82、ation,Institute of Real Estate Studies of Tsinghua University and Information Technology Research Institute of Beijing China Index Academy,and co-organised by China Real Estate TOP10 Research Group.該評選由中國企業評價協會、清華大學房地產研究所、北京中指信息技術研究院主辦，北京中指信息技術研究院中國房地產TOP10研究組承辦。2023 Chinas Top 5 Project Management
83、Service Providers with Comprehensive Strength2023 中國代建服務商綜合實力TOP5It was organised by EH Consulting億翰智庫主辦232023 Top 10 Brands of China Real Estate Estate Project Management Enterprises2023中國房地產代建企業品牌10強It was jointly held by China Real Estate Business and China Urban&Regional Governance Research Inst
84、itute由中國房地產報、中國城市與區域治理研究院聯合主辦1232023 ANNUAL REPORT 二零二三年年報23AWARDS AND HONOURS獎項及榮譽Outstanding Commercial Project Management Enterprises in Chinas Real Estate Sector in H1 20232023年上半年中國房地產優秀商業代建企業It was organised by CRIC Research Center克而瑞研究中心主辦42023 Leading Brand of China Real Estate Project Manag
85、ement Companies,2023 Leading Brand of China Real Estate Government Project Management Companies,2023 Leading Brand of China Real Estate Green Project Management Companies.2023中國房地產代建領先品牌、2023中國房地產政府代建領先品牌、2023中國房地產綠色代建領先品牌It was organised by China Enterprise Evaluation Association,Institute of Real
86、Estate Studies of Tsinghua University and Information Technology Research Institute of Beijing China Index Academy,and co-organised by China Real Estate TOP10 Research Group.由中國企業評價協會、清華大學房地產研究所、北京中指信息技術研究院主辦，北京中指信息技術研究院中國房地產TOP10研究組承辦。545CENTRAL CHINA MANAGEMENT COMPANY LIMITED 中原建業有限公司24CHAIRMANS
87、STATEMENT主席報告尊敬的各位股東：本人僅代表本公司董事會提呈本集團截至2023年12月31日年度業績回顧及後續工作展望。外部環境及行業背景全球經濟復甦的乏力給貿易增長帶來壓力，外部環境的複雜性、嚴峻性、不確定性上升。國內方面，疫情後出現 疤痕效應，主要表現為有效需求不足、社會預期偏弱等問題，市場信心仍需恢復。產業結構優化升級，消費市場逐漸回暖，政策方面向寬鬆轉變，減稅降費、金融支持實體經濟等，但尚未傳導至土地及市場。Dear Shareholders,On behalf of the board of directors of the Company,I hereby present
88、the business overview of the Group for the year ended 31 December 2023 and the outlook for future development.EXTERNAL ENVIRONMENT AND INDUSTRY BACKGROUNDThe sluggishness of the global economic recovery has put pressure on trade growth,and the complexity,severity and uncertainty of the external envi
89、ronment have increased.On the domestic front,the“scarring effect”after the pandemic was mainly manifested in the lack of effective demand,weak social expectations and other problems.Market confidence still needs to be restored.The optimisation and upgrading of the industrial structure,the gradual re
90、bound of the consumer market,and the shift to loose policies,tax cuts and fee reductions,financial support for the real economy and so on have yet exerted effects on the land and market.CHAIRMANS STATEMENT主席報告2023 ANNUAL REPORT 二零二三年年報25CHAIRMANS STATEMENT主席報告行業方面，國民經濟修復與房地產行業復甦呈現高度一致性。一季度在疫情積壓需求釋放、
91、政策整體偏松推動下，經濟企穩回升，房地產行業也迎來了一波 小陽春。但整體來看，無論是經濟亦或是房地產，復甦基礎並不牢靠。全年未能延續回暖趨勢，增長動能衰退，居民購房預期走低，企業投資低迷，新開工等持續承壓，謹慎的態度尚未改觀。發展代建業務的品牌房企已超80家，部分企業專攻不同領域增強市場競爭力。綜合來看，代建未來510年將步入穩步增長、且競爭激烈的高質量發展階段。中國房地產業協會代建分會於2023年11月正式成立，本公司當選副會長單位。2023年全年業績回顧2023年依托中原建業合夥人理事會優勢，公司深度挖掘市場機遇，構建更廣闊的發展平台，分別於1月及4月、10月實現3次大規模集中簽約，向市場
92、呈現公司良好發展態勢。2023年公司整體完成簽約面積716萬平方米，同比2022年增長113%，其中累計與27家平台公司、8家國企簽訂戰略合作協議。累計簽約22個政府代建項目，簽約面積326萬平方米。其中河南省以外地區共計簽約項目12個，142萬平方米，同比2022年提升1,233%。此外，公司持續推進合資平台模式、搭建代建C平台，深度嫁接合作夥伴資源，黏合中原建業、政府、合作夥伴三方關係；探索對賭機制，實現各方共贏，滿足合作方訴求，增強合作信心。In terms of industry,the recovery of the national economy is highly consis
93、tent with the recovery of the real estate industry.In the first quarter of 2023,as driven by the released pent-up demand after the pandemic and promoted by loose policies,the economy stabilised and rebounded and the real estate industry also experience a short boom of growth.On the whole,however,the
94、 recovery of both the economy and the real estate sector was not stable.As the recovery trend failed to continue throughout the year and the growth momentum declined,the residents expectations for home-ownership weakened,and companies investment was in a downturn and new construction continued to be
95、 under pressure.The cautious attitude did not change.More than 80 renowned real estate enterprises developed the project management business.Some of them have specialised in different fields to enhance their market competitiveness.On the whole,the project management business will enter a period of h
96、igh-quality development featuring steady growth and stiff competition in the next 510 years.The project management branch of the China Real Estate Association was formally established in November 2023,and the Company was elected as the vice-chairman unit.REVIEW OF 2023 ANNUAL RESULTSIn 2023,relying
97、on the advantages of the City Partner Council,the Company tapped into market opportunities,set up a broader development platform,and realised three large-scale centralised contract signings in January,April and October respectively,which presented the Companys good development trend to the market.In
98、 2023,the Company completed an overall contracted area of 7.16 million sq.m.,a year-on-year increase of 113%compared with 2022.It signed strategic cooperation agreements with 27 platform companies and 8 state-owned enterprises in total.The Company accumulated 22 government project management project
99、s,with a contracted area of 3.26 million sq.m.In particular,a total of 12 projects were signed outside of Henan Province,with a total area of 1.42 million sq.m.,a year-on-year surge of 1,233%compared with 2022.In addition,the Company actively promoted the joint venture platform model,built the Proje
100、ct Management C Platform,deeply integrating the resources of partners,bonding the tripartite relationship between CCMGT,the government and partners.It explored the betting mechanism to achieve a win-win situation for all parties,satisfy the demands of partners and enhance their confidence in coopera
101、tion.CENTRAL CHINA MANAGEMENT COMPANY LIMITED 中原建業有限公司26CHAIRMANS STATEMENT主席報告2023年，本公司代合作方銷售的合同銷售額約為人民幣295億元，同比2022年提升38%，合同銷售建築面積約466萬平方米。兩項核心數據均處於行業領先，持續鞏固了代建行業頭部企業的地位。2023年本公司期初庫存銷售187億，去化率為64%達到近三年最佳水平。對比三四線城市平均庫存去化率為41%，本公司較同行業庫存去化率高出23個百分點。為提升綜合競爭力，適應市場、客戶、行業、時代的新趨勢和新挑戰，公司於9月24日正式推出3.0代建模式 中
102、原建業代建C平台。鏈接企業內外資源、縱向整合全產業鏈、創新招標採購模式、提供增值服務的平台；重構未來市場運作模式和運營邏輯。實現與總包單位、下游供應商、設計單位、勘察單位、供貨單位、諮詢服務單位和營銷單位深度合作組成聯合體，開啟開發全流程量身定制的新模式。在眾多房企出現交付困難的情況下，公司充分發揮自身輕資產模式優勢，響應政府保交樓、保穩定、保民生的號召，積極推進交付工作。2023年累計交付6.6萬套，共計838萬平方米，交付總量遠超2021年與2022年總和；提前交付56個批次約2.7萬套，共計358萬平方米；交付即發證26個批次、約1.5萬套，共計184萬平方米，遠超市場同行業平均水平。公
103、司以良好的企業素質、經濟實力、經營能力、財務狀況、合同履約能力、信用狀況及行業發展前景獲得招投標AAA信用等級證書，為招投標競標、履行相關經濟和社會責任提供優秀保障。The contracted sales recorded by the Company from sales on behalf of its partners grew 38%from 2022 to RMB29.5 billion in 2023,with a contracted sales gross floor area(GFA)of 4.66 million sq.m.The Company led the indu
104、stry in the two core figures,cementing its leading position in project management.In 2023,the Companys sales of opening inventory amounted to RMB18.7 billion,and the selling rate reached 64%,the best level in the past three years.With the average selling rate of 41%in third-and fourth-tier cities,th
105、e Companys selling rate was 23 percentage points higher than that of its peers.The Company formally launched the“3.0 Project Management Model CCMGT Project Management C Platform”on 24 September,in order to enhance its comprehensive competitiveness and adapt to the new trends and challenges of the ma
106、rket,customers,industry and the times.It is a platform that connects internal and external resources,vertically integrates the entire industrial chain,innovates in the tendering and purchasing models,and provides value-added services.It reshapes the future market operation model and business logic.I
107、t set up consortium with the general contractor,downstream suppliers,designers,surveyors,consulting service providers and marketers via in-depth cooperation,creating the new model of whole-process customisation.When many real estate companies encountered difficulties in delivery,the Company gave ful
108、l play to its advantages in asset-light model,responded to the governments call to ensure the delivery of buildings,ensure stability and protect peoples livelihood,and actively pushed forward delivery work.The cumulative delivery of 66,000 houses totalling 8.38 million sq.m.in 2023 far exceeded the
109、total delivery volume in 2021 and 2022.It delivered 56 batches of approximately 27,000 apartments totalling 3.58 million sq.m.A total of 26 batches of approximately 15,000 houses totalling 1.84 million sq.m.were delivered with property ownership certificates issued simultaneously,far exceeded the av
110、erage level of the industry.The Company was awarded the AAA credit rating certificate for tenders for its good corporate quality,economic strength,operation capability,financial condition,contract fulfillment capability,credit status and industry development prospect,which provides excellent protect
111、ion for bidding and fulfillment of related economic and social responsibilities,which guarantees bidding and fulfillment of relevant economic and social responsibilities.2023 ANNUAL REPORT 二零二三年年報27CHAIRMANS STATEMENT主席報告The Company continued to optimise its products and services to enhance its comp
112、etitive edge in 2023.It kept promoting product system upgrading through product innovation research,and conducted research on products adapted to new market demands.The Company won many awards and honours,including Outstanding Companies in China for Real Estate Project Management Operations,Leading
113、Brand of China Real Estate Government Project Management Companies,Leading Brand of China Real Estate Project Management Companies,and Chinas Top 5 Project Management Service Providers with Comprehensive Strength,by virtue of its excellent operation and management ability and ability to serve client
114、s.OUTLOOK FOR 2024In 2024,China will seek progress amidst stability for the economy,and make it continuously turn around.Under the proactive fiscal policy and loose monetary policy,residents consumption ability and willingness gradually will resume,the real estate relief and assistance policies will
115、 pan out,and the trend of stabilisation and recovery of the real estate sector will be strengthened.Under the support of the construction of“three major projects”,fixed asset investment will be further increased,which will give a further boost to the economic growth.At the industry level,the number
116、of renowned real estate companies developing project management business will see an explosive growth,and the competition in the industry will further intensify,which will be a challenge and an opportunity.The overall market level will also rise.The future revenue from project management regarding c
117、ommercial real estate may move to a higher level of 50 billion yuan or 100 billion yuan.As city investment companies continuously obtain land-use rights to stabilise the land market,the demand for both government project management and capital project management will further increase,which will brin
118、g greater opportunities for professional project management companies.本公司在2023年持續優化產品及服務，不斷提升競爭優勢。持續通過產品創新研究，促進產品體系升級，研究適配新市場需求的產品。公司憑借優秀的運營管理能力及委託方服務能力取得 中國房地產代建優秀運營企業、中國房地產政府代建領先品牌、中國房地產代建領先品牌中國代建服務商綜合實力TOP5 等諸多獎項與榮譽。2024年展望2024年國內經濟堅持穩中求進，經濟延續回升向好態勢。在積極財政政策和寬鬆貨幣政策下，居民消費能力和意願逐步恢復，地產紓困幫扶政策累計效應顯現，房地
119、產趨穩復甦勢頭得到強化。在 三大工程 開工建設的托舉下，固定資產投資將進一步加大，對經濟增長的拉動作用也將增加。行業層面，發展代建業務的品牌房企數量井噴，行業競爭進一步加劇，是挑戰亦是機遇。整體市場能級也將隨之拔升，未來商品房代建營收或將從百億級市場進入更高的500億、1,000億量級。尤其在城投拿地持續發力維穩土地市場的背景下，政府代建和資本代建的需求均將進一步加大，帶給專業代建企業較大機會。CENTRAL CHINA MANAGEMENT COMPANY LIMITED 中原建業有限公司28CHAIRMANS STATEMENT主席報告In 2024,the Group will be g
120、uided by the corporate value of“Joint Development through Central China”,adhere to the cooperation principle of“three insistence,four recognition and three assurance”,aim to“make every project profitable and make every project a benchmark”,integrate resources of all parties with credit advantages,an
121、d build up a community of trust in the real estate project management sector.Relying on the Project Management C Platform,the Company will actively utilise its excellent resource integration capability and industrial chain linking capability in the field of project management,and truly create value
122、for all parties involved in project management,so as to gain the long-term trust of the government,partners,capitalists,customers and industry peers.The Group will further enhance its management capabilities,capitalise on its platform advantages,continue to build its image as a“trustworthy project m
123、anagement service provider”,consolidate its development foundation in the Greater Central China region,and create new value through new changes,new progress and new development,leading the industry in achieving steady growth while maintaining its standardised growth.I would like to express my sincer
124、e gratitude to all of our Shareholders and employees for their support and dedication,and to customers for their trust,recognition and support.I believe that with the joint efforts of the Companys management and all employees,CCMGT will be able to seize opportunities of the times,expand its potentia
125、l energy,lead the industry upward and create value for partners and social development in a more standardised management and more innovative model development.Wu Po SumChairman 9 January 20252024年，本集團將在 共建業同發展 的企業價值觀指導下，以 三個堅持、四個認同、三個確保為合作原則，以 做到每一個項目都盈利、做到每一個項目都成為標桿 為工作目標，用信用優勢鏈接各方資源，打造房地產代建信賴共同體。依
126、托中原建業代建C平台，積極發揮公司在代建領域優秀的資源整合能力和產業鏈拉通能力，真正為代建各方創造價值，以獲得政府、合作方、資本方、客戶和行業的長久信賴。本集團將進一步提升管理能力、發揮平台優勢，持續打造 值得信賴的代建服務商 形象，不斷鞏固大中原地區的發展根基，用新變革、新進步、新發展創造新價值，帶領行業規範增長的同時，實現穩健增長。謹此衷心感謝全體股東的支持及員工的辛苦付出，感謝客戶的信賴、認同和支持。相信在公司管理層和全體員工的共同努力下，中原建業一定能抓住時代機遇，在更加規範的管理和更加創新的模式發展中，擴大品牌勢能，領航行業向上，持續為合作夥伴和社會發展創造價值。主席胡葆森2025年
127、1月9日2023 ANNUAL REPORT 二零二三年年報29FINANCIAL HIGHLIGHTS財務摘要收益表概要財務狀況表概要SUMMARY OF INCOME STATEMENTFor the year ended 31 December截至12月31日止年度20232022Changes2023年2022年變動RMB000RMB000Increase/(decrease)人民幣千元人民幣千元增加（減少）Revenue收入468,377605,679(22.7%)Net profit淨利潤201,237303,900(33.8%)Net profit margin淨利潤率43.0%
128、50.2%(7.2%)Basic earnings per share (RMB cents)每股基本盈利（人民幣分）5.599.25(39.5%)Diluted earnings per share (RMB cents)每股攤薄盈利（人民幣分）5.599.25(39.5%)Total dividend per ordinary share (HK cents)每股普通股總股息（港仙）8.51NA不適用 SUMMARY OF STATEMENT OF FINANCIAL POSITIONAs at 31 December於12月31日20232022Changes2023年2022年變動RM
129、B000RMB000Increase/(decrease)人民幣千元人民幣千元增加（減少）Total cash and cash equivalents現金及現金等價物總額1,835,7831,564,61717.3%Total assets總資產3,125,5712,693,43616.0%Total liabilities總負債706,356515,64437.0%Total equity權益總額2,419,2152,177,79211.1%CENTRAL CHINA MANAGEMENT COMPANY LIMITED 中原建業有限公司30MANAGEMENT DISCUSSION AN
130、D ANALYSIS管理層討論及分析營運回顧一、宏觀形勢2023年中國經濟在疫情後的正常化之路上展現出了複雜而多元的局面。服務業的快速恢復對消費產生了積極的提振作用，從而推動了經濟的逐漸復甦。然而，房地產銷售和開發投資的降幅明顯，以及出口需求的下降，給居民就業和收入帶來了壓力，導致不同領域、行業、主體之間的結構分化明顯。儘管總體復甦趨勢確立，但復甦的動力和持續性仍然面臨考驗。對於房地產市場而言，2023年繼續承壓前行，銷售百強房企近半數未獲地，近7成百強房企業績下滑，企業投資低迷，謹慎的態度尚未改觀。2023年，房地產市場供求關係發生重大變化，中央政府在政策上採取了前穩後松的策略，以7月政治局
131、會議定調OPERATION REVIEWI.Macro EnvironmentChinas economy showed complexity and diversity during the post-pandemic normalization in 2023.The rapid recovery of the services sector gave a positive boost to consumption,which in turn contributed to the gradual recovery of the economy.However,the marked decl
132、ine in real estate sales and development investment,as well as the drop in demand for exports,put pressure on residents employment and incomes,leading to a prominent structural differentiation among different fields,industries and subjects.Despite the confirmed recovery,China is still under test in
133、the momentum and sustainability of the recovery.As far as the real estate market is concerned,market players moved forward under pressure in 2023.Nearly half of the top 100 property developers in terms of sales failed to acquire land-use rights,and nearly 70%of the top 100 property developers saw a
134、decline in sales.Enterprises made weak investment and remained cautious.In 2023,the relationship between supply and demand in the real estate market underwent significant changes.The central government first adopted stable policies and then loose policies.It emphasised Nanyang Jianye Wonderland 南陽建業
135、雲境2023 ANNUAL REPORT 二零二三年年報31MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析的 行業供需關係發生重大轉變 為標誌，政策力度逐漸轉向 托舉並用。在需求端，政府通過降低首付比例、降低貸款利率以及實施 認房不認貸 等政策來支持居民按揭購房；在供給端，政府則通過 三個不低於 和一視同仁支持融資等保主體措施來緩解房企的資金壓力。據中指研究院統計，地方政策鬆綁加力提速，273省市622次政策鬆綁，從三四線到核心一二線反向傳導，限制性行政措施幾乎都已退出，政策環境已接近2014年最寬鬆水平，持續加強政策支持，保障市場穩定，推進房地產行業軟著
136、陸。at the July meeting of the Political Bureau that relationship between supply and demand in the real estate industry has undergone significant changes,marking that policies released were to prop up the real estate sector.On the demand side,the government supported residents in buying houses on mort
137、gage by lowering the down payment ratio,cutting the interest rates for loans and implementing the policy of“recognizing properties but not loans”.On the supply side,it eased the capital pressure on real estate developers through measures including“three no less-thans”and non-discriminatory support f
138、or financing.According to the statistics of the China Index Academy,the loosening of local policies accelerated.Policies in 273 provinces and cities were eased 622 times.Such loosening occurred first in third-and fourth-tier cities and then in first-and second-tier cities.Restrictive administrative
139、measures have almost been withdrawn,and the policy environment was close to the most relaxed level in 2014.Constant efforts were made to strengthen the policy support,ensure the stability of the market,and promote the soft landing of the real estate industry.Baofeng Jianye Purple Gardens 寶豐建業紫園CENTR
140、AL CHINA MANAGEMENT COMPANY LIMITED 中原建業有限公司32MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析II.Project Management MarketAmid the downturn of the real estate market,the project management business became the“second growth curve”of many real estate developers.As at the end of 2023,more than 80 renowned re
141、al estate enterprises developed the project management business.Some of them have specialised in different fields to enhance their market competitiveness.In 2023,the new contract size of top 5 project management companies accounted for 47%of the total,and the figure for the top 10 companies was 71%.
142、The industry concentration remained at a high level.With the fast-growing size of project management,the project management system saw gradual upgrading and improvement.More provinces and municipalities have released corresponding measures.The Administrative Measures on Project Management System for
143、 Investment Projects of Fujian Provincial Government(Trial)(福建省省級政府投資項目代建制管理辦法(試行)was released in Fujian in February 2023,in a bid to enhance the enthusiasm of quality enterprises to participate in project management.In July,Xiamen upgraded and perfected the original administrative measures on proje
144、ct management system,and 二、代建市場在房地產市場下行期，代建業務成為許多房企的 第二增長曲線，截至2023年末，發展代建業務的品牌房企已超80家，部分企業專攻不同領域增強市場競爭力。2023年top5代建企業新增簽約規模佔比總額為47%，top10佔比為71%，行業集中度依舊保持較高水平。隨著代建規模的快速發展，代建制度也逐步提升和完善，有更多省市出台相應的實施辦法。2023年2月福建省為提升市場優質企業參與代建的積極性，出台福建省省級 政 府 投 資 項 目 代 建 制 管 理 辦 法（試行）；7月廈門市提升和完善原有代建制 Zhoukou Jianye Cloud
145、 Mansion 周口建業雲築2023 ANNUAL REPORT 二零二三年年報33MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析管理辦法進行，制定廈門市政府投資項目代建制管理辦法；9月河北省滄州市出台滄州市政府投資項目代建制實施辦法；北京、浙江、江蘇、廣東、山東、陝西、甘肅等省份均發佈相關類似制度，規定在一定投資金額以上的政府項目均須採用招標等方式選擇專業化的項目管理單位，以更好規範政府投資管理，提高投資效益。綜合來看，代建未來510年將步入穩步增長、且競爭激烈的高質量發展階段。2023年，中原建業聯合中國房地產業協會在只有河南 戲劇幻城舉辦 聚首中原
146、共建未來 中房協代建分會工作會議，籌備代建分會成立相關事宜。在11月，中原建業受邀出席由中國房地產業協會主辦的第十四屆中國房地產科學發展論壇，當選副formulated the Administrative Measures on Project Management System for Investment Projects of Xiamen Government(廈門市政府投資項目代建制管理辦法).In September,the city of Cangzhou in Hebei Province issued the Measures for Implementation of P
147、roject Management System for Investment Projects of Cangzhou Government(滄州市政府投資項目代建制實施辦法).Similar systems were released in Beijing,Zhejiang,Jiangsu,Guangdong,Shandong,Shaanxi,Gansu,among others,stipulating that professional project management units should be selected via tendering and other means fo
148、r governmental projects above a certain investment amount,so as to better regulate government investment management and increase investment efficiency.On the whole,the project management business will enter a period of high-quality development featuring steady growth and stiff competition in the nex
149、t 510 years.In 2023,CCMGT cooperated with the China Real Estate Association to organise the working meeting of the associations project management branch themed on“Gathering in Central China and building the future together”at Unique Henan,Land of Dramas and prepared for the establishment of the pro
150、ject management branch.In Luoyang Mengjin Jianye Cloud Mansion 洛陽孟津雲著CENTRAL CHINA MANAGEMENT COMPANY LIMITED 中原建業有限公司34MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析會長單位，代建行業邁向聯合發展的全新階段。同時，中原建業為提升綜合競爭力，打造開放的企業數字化平台，適應市場、客戶、行業、時代的新趨勢和新挑戰，於9月正式推出 中原建業3.0代建模式 中原建業代建C平台（信賴、鏈接、利他）。2023年，中原建業在品牌方面以良好的企業素質、經濟
151、實力、經營能力、財務狀況、合同履約能力、信用狀況，取得 2023年中國房地產代建優秀運營企業、2023年中國房地產代建領先品牌、2023年中國房地產政府代建領先品牌、2023中國房地產綠色代建領先品牌、2023年中國代建服務商綜合實力TOP5 等諸多獎項與榮譽；在工程方面獲取省級工程類榮譽10餘項，其中省優質工程2項，省安全文明標準化工地3項，省質量標準化示範工地5項，地市級工程類榮譽20餘項；在產品創新方面斬獲2項產品設計類大獎，彰顯了建業以產品致敬生活，以品質築就榮譽的匠人精神，更是建業31載產品力沉澱受到行業認可的有力證明。三、大中原 戰略在 大中原 戰略的指導下，中原建業聚焦六大核心指
152、標，堅持向精細化管理要效益；加快推動業務模式結構調整，加大政府代建拓展力度；穩步提升產品管控能力，完善產品管控體系，樹立孤品意識；穩步提升項November,CCMGT was invited to attend the 14th China Real Estate Scientific Development Forum organised by the China Real Estate Association,and was elected as the vice-chairman unit.The project management industry entered a new st
153、age of common development.In addition,CCMGT formally launched the“CCMGT 3.0 Project Management Model CCMGT C Platform”(confidence,connect,cooperation)in September,in order to enhance its comprehensive competitiveness,create an open enterprise digital platform,and adapt to the new trends and challeng
154、es of the market,customers,industry and the times.In 2023,CCMGT won many awards and honours,including 2023 Outstanding Companies in China for Real Estate Project Management Operations,2023 Leading Brand of China Real Estate Project Management Companies,2023 Leading Brand of China Real Estate Governm
155、ent Project Management Companies,2023 Leading Brand of China Real Estate Green Project Management Companies and Chinas 2023 Top 5 Project Management Service Providers with Comprehensive Strength,for its good corporate quality,economic strength,operation ability,financial condition,contract fulfillme
156、nt ability,and credit status.It won more than 10 provincial engineering honours,including 2 provincial quality projects,3 provincial safe and civilised standardised sites,5 provincial quality standardised demonstration sites,and more than 20 prefecture-level engineering honours.It received two produ
157、ct design awards in product innovation,which demonstrates its craftsmanship spirit of paying tribute to life with products and winning honour with quality,and is a strong proof that its product capability in 31 years has been recognised by the industry.III.“Greater Central China”StrategyUnder the gu
158、idance of the“Greater Central China”Strategy,CCMGT was dedicated to six core indicators and remains committed to deriving benefits through refined management practices.CCMGT accelerated the structural adjustment of the business model and increased the expansion of the government project management.I
159、n addition,CCMGT also made steady improvements in product control capabilities,refined the product control system,and fostered a mindset of creating unique products.Furthermore,CCMGT made continuous strides in enhancing the quality of project operations and intensified its efforts in identifying and
160、 resolving risks and challenges arising from projects.Moreover,CCMGT 2023 ANNUAL REPORT 二零二三年年報35MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析目經營質量，加大風險及問題項目解決力度；持續強化品牌維護工作，強化客訴閉環管理；持續開展創新研究，完善合作夥伴的管理體系，發揮合夥人新的增長極作用。2023年中原建業集團繼續領跑省內代建市場，通過提升 項目全流程精細化管理 能力，優化業務模式結構，促進中原建業業務良性健康發展；同時，2023年中原建業在省內外項目拓展的招
161、投標工作實現從起步到專業化、規範化、制度化的轉變，在投標資質、人員儲備、管控制度、經驗積累方面，有效的提升了外部投標競爭力。2023年中dedicated itself to reinforcing brand maintenance and implementing a closed-loop management system for addressing customer complaints.Besides,CCMGT demonstrated a strong commitment to conducting innovative research and enhancing the
162、 management system of our partners,thereby fulfilling our role as a new growth catalyst for them.In 2023,Central China Group still led the provincial project management market,enhanced the ability of“fine management in the whole process of projects”to further optimise business models,with a view to
163、maintaining the sound and healthy development of CCMGTs business.In 2023,the tender work of CCMGT for the expansion of projects inside and outside the province was professionalised,standardised and institutionalised,which effectively enhanced the competitiveness in participating external tenders in
164、terms of tender quality,personnel reserve,control system and experience accumulation.In 2023,CCMGT was awarded the AAA credit rating certificate for tenders,which demonstrates Phase 7 of Shangqiu Jianye Hopsca City 商丘建業十八城七期CENTRAL CHINA MANAGEMENT COMPANY LIMITED 中原建業有限公司36MANAGEMENT DISCUSSION AND
165、 ANALYSIS管理層討論及分析its excellent development,operation and credit status,and guarantees bidding and fulfillment of relevant economic and social responsibilities.It also actively participated in the bidding and tendering of projects in Zhejiang and Jiangsu.It has a competitive edge in this regard in th
166、e real estate project management industry.IV.Project Development during the YearThe Company had 57 newly signed project management projects during the Year,representing a year-on-year rise of 90%.The newly contracted gross floor area(GFA)soared 113%year on year to 7,155,300 sq.m.There were 45 new co
167、ntracts signed in Henan with a newly contracted GFA of 5,739,400 sq.m.Twelve new contracts were signed in provinces other than Henan with a newly contracted GFA of 1,415,900 sq.m.The contracted sales for projects under the Groups management amounted to approximately RMB29.5 billion,representing a ye
168、ar-on-year increase of 38%,and the contracted sales area was 4,659,686 sq.m.,representing a year-on-year growth of 33%.As at 31 December 2023,the Group had 264 projects under management with an aggregate GFA of 31,690,340 sq.m.,228 of which were in Henan with an aggregate GFA of 27,764,198 sq.m.,and
169、 there were 36 projects in provinces other than Henan with an aggregate GFA of 3,926,142 sq.m.CCMGT focused on the third-and fourth-tier markets in the Greater Central China region,with a cumulative presence in 134 counties and cities in and beyond Henan.In particular,CCMGT has established presence
170、in 106 counties and cities in Henan,including 17 prefecture-level cities,1 prefectural county-level city,and 88 counties and county-level cities,and 28 counties and cities beyond Henan,including 6 prefecture-level cities and 22 county-level cities.原建業獲得招投標AAA信用等級證書，彰顯了企業優秀的發展經營及信用狀況，為招投標競標、履行相關經濟和社會
171、責任提供優秀保障；並積極參與浙江、江蘇區域的項目招標投標工作，已具備房地產代建行業的招投標競爭優勢。四、年內項目發展於年內，新簽代建項目57個，同比增加90%；新增合約建築面積7,155,300平方米，同比增加113%；其中，新簽約省內項目45個，新增合約建築面積5,739,400平方米；新簽約省外項目12個，新增合約建築面積1,415,900平方米。本集團在管項目的合約銷售金額295億元，同比上升38%；合約銷售面積4,659,686平方米，同比增加33%。截至2023年12月31日，本集團在管項目264個，在管項目建築面積31,690,340平方米，其 中 省 內 項 目 2 2 8 個，
172、總 建 築 面 積27,764,198平方米；省外項目36個，總建築面積3,926,142平方米。中原建業專注於大中原區域三四線市場，省內外合計進駐134個縣市。省內總計106個：17個地級市，1個省直轄縣級市，88個縣及縣級市；省外合計28個：6個地級市，22個縣級市。2023 ANNUAL REPORT 二零二三年年報37MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析V.Future Business Plan and StrategyCCMGT firmly upholds the principle of“Good People and Good
173、Land”as its guiding philosophy for cooperation.It operates primarily through commercial project management,government project management,capital project management,and specialised management consulting services.Meanwhile,the Group will actively offer project management services to small-and medium-s
174、ized developers in Henan.This initiative aims to expand brand influence and share management approaches.By engaging in deep collaboration with partners,the Group seeks to address the lack of management experience among small and medium-sized developers and enhance overall project management standard
175、s,project quality,and operational efficiency.This approach ensures timely project delivery and mitigates the risk of delays.Through establishing a community of common interests with synergistic advantages,risk sharing,and a shared interest in success,we can generate substantial value for partners an
176、d the community,promoting urbanization construction and advancement in China.In 2024,CCMGT should focus on internal management changes and innovative development models to carry out work.CCMGT will emphasise“change”and“innovation”,center on improving operation and management in an innovative way,enh
177、ance the competitiveness of its products through effective integration of resources,and give full play to the advantages of the“CCMGT 3.0 Model Project Management C Platform”to empower its partners and create a virtuous cycle of benign operation and development.五、未來業務計劃及策略中原建業始終堅持以 好人好地 為合作原則，以商業代建、
178、政府代建、資本代建、專項管理諮詢服務為主要運作模式。同時，積極向省內中小開發商提供代建服務，輸出品牌和管理，與合作夥伴深度合作，有利於克服中小開發商自身管理經驗不足，提高項目整體管理水平、工程質量及運營效率，從而保證工期，避免出現交付風險，建立優勢互補、風險共擔、成果共享的利益共同體，從而為合作夥伴和社會創造豐盛價值，推動中國城鎮化的建設與升級。2024年，中原建業應圍繞內部管理變革提升、創新發展模式開展工作。中原建業將以變革、創新 為主線，以創新方式聚焦經營管理改善，通過有效嫁接資源提升產品競爭力，充分發揮 中原建業3.0模式 代建C平台 的優勢，為合作夥伴賦能，創造良性經營、順勢發展的良性
179、循環。CENTRAL CHINA MANAGEMENT COMPANY LIMITED 中原建業有限公司38MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析1.Government project management gains full momentum and breakthroughs will made in business outside HenanIn order to sustain its business development and market expansion,CCMGT will pay continuous attenti
180、on to government project management and out-of-province markets,strengthen its cooperation with governments platform companies,and flexibly adjust its mode of operation to cater to the needs of different partners.Additionally,the Company will improve its management mechanism,set up a strategic resea
181、rch department to strengthen business research,and establish expansion offices in out-of-province markets to improve the linkage efficiency.In addition,CCMGT will leverage the supply chain financing capability of its Project Management C Platform and its strategic cooperation with financial institut
182、ions to provide financial support for the implementation of high-quality projects.2.Enhancing product competitiveness and transforming product power into marketing powerCCMGT has actively responded to the policy orientation of new development models,explored the standardization of market-adapted pro
183、ducts,and promoted the enhancement of its product power with the turnkey project plan of the Project Management C Platform.Through innovative R&D and upgrading of the product system,the Company intends to sort out existing products,enrich and upgrade them according to market and customer needs,and a
184、t the same time clarify and deepen various product standards to ensure good product design effects.Moreover,CCMGT will strengthen the quality control over construction works,foster an excellent supply chain,improve the standardization system,and create iconic projects to present high-quality demonst
185、ration areas by taking measures such as site open day and all-weather site opening,in order to satisfy customers needs and promote the Companys sustainable and steady development.1、政府代建全面發力，省外發展實現突破中原建業為了持續推動業務發展和市場拓展，將持續聚焦政府代建和省外市場，加強與政府平台公司的合作，並靈活調整合作模式以適應不同合夥夥伴的需求。同時，公司將完善管理機制，設立戰略研究部門以加強業務研究，並在省
186、外市場設置拓展辦事處以提高聯動效率。此外，中原建業還將利用代建C平台供應鏈融資能力和與金融機構的戰略合作，為優質項目的落地提供金融支持。2、提升產品競爭力，將產品力轉化為營銷力中原建業積極響應新發展模式政策導向，深入探索市場適配產品的標準化，並借助代建C平台的交鑰匙工程計劃推動產品力的提升。公司計劃通過創新研發和升級產品體系，梳理現有產品，根據市場和客戶需求進行豐富和升級，同時明確並深化各項產品標準，確保產品設計效果的高品質落地。此外，中原建業還將強化工程質量管控，培養優秀供應鏈，完善標準化體系，並打造標桿項目，通過推廣工地開放日、全天候工地開放等措施，呈現高品質示範區，以滿足客戶需求，推動公
187、司的持續穩健發展。2023 ANNUAL REPORT 二零二三年年報39MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析3、做好風險防控，提升管理能力中原建業為應對風險挑戰，採取了一系列風險管理措施。在銷售方面，通過分類管理項目，集中營銷力量，實現標桿引領和困難項目的限期脫困。同時，加強回款管理，確保現金流的可持續性，保障項目經營安全。在資金風險方面，公司重點監控資金緊張且工期滯後項目，嚴格落實資金使用規定，強化U 盾管理，確保項目資金安全運營。此外，中原建業還注重項目交付風險管理，利用政策推動項目紓困資金落地，並加強品牌風險管理，嚴格約定合作項目中的法律
188、風險及解決措施，以確保公司整體運營平穩，實現可持續發展。4、搭建數智化管理中台，實現科學高效管控中原建業計劃搭建數智化服務中台，實現 經營數據全面可視化、拓展管理過程化、經營管理精細化、營銷管理信息化、成本管理動態化、業財管理一體化 等功能，向 如何管好 轉型，切實解決項目開發管理中的各個痛點，為風險管控提供有效抓手、為經營決策提供有效支撐。3.Carrying out risk prevention and control and improving management capabilitiesCCMGT has adopted a series of risk management me
189、asures to address risk challenges.In terms of sales,through the classification and management of projects,it will make concerted efforts on marketing to set a benchmark and get out of a dilemma within the time limit.At the same time,efforts will be made to strengthen payment collection to ensure the
190、 sustainability of cash flows and the safety of project operation.From the perspective of capital risks,the Company will focus on monitoring cash-strapped and delayed projects,strictly enforce the regulations on the use of funds,and strengthen the management of U-shield to ensure the safe operation
191、of project funds.In addition,CCMGT will also focus on project delivery risk management,utilise policies to promote the use of project relief funds,and strengthen brand risk management by strictly agreeing on the legal risks and solutions in cooperative projects to ensure the Companys overall stable
192、operation and achieve sustainable development.4.Building a digital intelligence management platform to realise scientific and efficient controlCCMGT plans to build a digital intelligence service platform to realise the functions of“comprehensive visualization of operational data,expansion management
193、 programming,refinement of operation and management,informationization of marketing management,dynamic cost management,and integration of business and financial management”,transform to“how to manage well”,practically remove the pain points in project development and management,and provide effective
194、 support for risk control and operational decision making.CENTRAL CHINA MANAGEMENT COMPANY LIMITED 中原建業有限公司40MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析5、以城市合夥人為標桿，發展一批合夥人式的合作夥伴中原建業致力於提升城市合夥人服務標準，強化與城市合夥人的全方位合作，將增強主動、效率和邊界意識，確保及時溝通、高效服務和專業尊重；並定期評估和調整合作關係，確保 三個認同 和深層次信賴，以城市合夥人為標桿優選合作夥伴，優化整體合作夥伴結構，增強合作
195、信心。同時，發揮城市合夥人資源優勢，嫁接內外部合作資源，尋求長期穩定合作，推介優質項目，分享標桿經驗，促進合作夥伴間的交流合作，實現共贏發展。六、前景展望隨著房地產代建行業的快速發展，市場規模不斷擴大，代建服務的需求也在持續增長。中原建業通過持續完善業務模式和創新服務管理，優化其業務流程、提高服務質量和效率，為合夥夥伴提供更好的代建服務和價值創造，滿足不同合夥夥伴的需求；同時，中原建業提供優質代建產品和舒適居住環境，為客戶提供高質量的產品品質和生活品質。作為行業龍頭企業之一，中原建業也將承擔起中房協代建分會副會長單位的責任，密切關注市場動態和政策變化，加強代建行業交流，並以 中原建業代建C平台
196、 這一創新舉措，與各戰略合作夥伴共同推動代建行業的創新和發展。5.Taking city partners as a benchmark to seek a group of partnersCCMGT is committed to raising the service standard for city partners and strengthening all-round cooperation with them.It will enhance the awareness of initiative,efficiency and boundaries to ensure timel
197、y communication,efficient services and professional respect.It will periodically evaluate and adjust the partnership to ensure the“recognition in three aspects”and deep-rooted trust.CCMGT will select preferred partners with city partners as a benchmark to optimise the overall partnership structure a
198、nd enhance confidence in cooperation.Meanwhile,it will utilise the advantages of city partners in resources to connect internal and external cooperation resources,seek long-term and stable cooperation,promote quality projects,share benchmarking experience,and promote exchanges and cooperation among
199、partners to achieve win-win development.VI.OUTLOOKWith the rapid development of the real estate project management industry,the market size continues to expand and the demand for project management services grows.Through ongoing improvement in its business model and innovative service management,CCM
200、GT has optimised its business process and enhanced its service quality and efficiency to provide better project management services and create value for its partners to meet the needs of different partners.In the meantime,CCMGT offers high-quality project management products and comfortable living e
201、nvironments to provide customers with high-quality products and quality of life.As one of the leaders in the industry,CCMGT will assume the responsibility as the vice-chairman unit of China Real Estate Associations project management branch,pay close attention to the market dynamics and policy chang
202、es,strengthen the exchange of the project management industry,and promote the innovation and development of the project management industry with strategic partners through the innovative initiative of CCMGT Project Management C Platform.2023 ANNUAL REPORT 二零二三年年報41MANAGEMENT DISCUSSION AND ANALYSIS管
203、理層討論及分析財務分析本集團於截至2023年12月31日止年度（本年度）內實現：收入本集團自提供房地產代建服務產生收入及收取管理服務費。影響收入的主要因素包括業務規模、在管項目數量及總在管合約建築面積、在管項目項目節點及進度以及銷售策略。於本年度內，收入為人民幣468.4百萬元，與2022年的人民幣605.7百萬元相比下降22.7%。收入下降，是因為國內房地產市場持續下行，公司服務費收取價格有所降低及新項目開拓增加幅度不及履約完成項目減少幅度。按照在管項目是否位於河南省劃分的本集團收入情況如下：其他收入其他收入主要為按攤銷成本計量的金融資產的利息收入及政府補助。於本年度內，其他收入為人民幣73
204、.9百萬元，較2022年的人民幣35.6百萬元增加人民幣38.3百萬元，增加107.8%，主要因為本年度第三方墊款利息收入增加。FINANCIAL ANALYSISFor the year ended 31 December 2023(“Year”),the Group achieved:RevenueThe Group generated revenue and received management service fees from the provision of project management services.Principal factors affecting reven
205、ue include the business size,number of projects under management and total contracted GFA,milestones and progress of projects under management as well as the sale strategies.During the Year,revenue amounted to RMB468.4 million,representing a decrease of 22.7%from RMB605.7 million in 2022.The decline
206、 in revenue was due to lower service fees charged by the Company as a result of the continued downturn of the domestic real estate market and the fact that the increase in new project development was not as significant as the decrease in completed projects.Below is the Groups revenue divided by whet
207、her projects under management are based in Henan Province:For the year ended 31 December截至12月31日止年度20232022Changes2023年2022年變動RMB000%of revenueRMB000%of revenueIncrease/(decrease)人民幣千元佔收入百分比人民幣千元佔收入百分比增加（減少）Projects in Henan province河南省項目435,11692.9%554,22591.5%(21.5%)Projects outside Henan province
208、除河南省外的項目33,2617.1%51,4548.5%(35.6%)Total合計468,377100.0%605,679100.0%(22.7%)Other IncomeOther income is primarily interest income on financial assets measured at amortised cost and government grants.During the Year,other income amounted to RMB73.9 million,an increase of RMB38.3 million or 107.8%as co
209、mpared with that of RMB35.6 million in 2022.This was mainly due to an increase in interest income on advances to third parties during the Year.CENTRAL CHINA MANAGEMENT COMPANY LIMITED 中原建業有限公司42MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析人員成本人員成本為本集團最大的成本項目，主要包括基本薪金及獎金、社會保險及其他福利以及建業地產股份有限公司（本集團前控股公司）及
210、本公司向本集團的僱員支付的以權益結算的股份支付款。該等成本不包括已付因我們在管的房地產開發項目而派駐予相關項目公司僱員的薪金、獎金、社會保險及住房公積金和其他福利及費用，該等成本及費用由相關項目擁有人承擔並由項目擁有人直接向派駐人員支付。於本年度內，人員成本為人民幣112.2百萬元，較2022年的人民幣123.1百萬元下降8.8%。下降的主要原因是本年度內本集團嚴控人員成本費用，導致人員成本減少。其他經營開支其他經營開支主要包括公司開銷、業務招待費、辦公及差旅開支。於本年度內，其他經營開支為人民幣58.6百萬元，與去年基本持平。所得稅於本年度內，所得稅為人民幣46.0百萬元，較2022年的人民
211、幣99.7百萬元下降53.9%。所得稅有效稅率為18.6%，較2022年有效稅率24.7%，下降6.1個百分點，主要由於2022年本公司於香港的附屬公司就中國附屬公司於2008年1月1日後賺取的溢利產生的股息分派按5%徵收預扣稅28.0百萬元。年度溢利於本年度內，淨利潤為人民幣201.2百萬元，較2022年的人民幣303.9百萬元下降33.8%。主要是由於收入下降，同時本年度計提減值撥備增加所致。Personnel CostPersonnel cost is the Groups largest cost item,which primarily comprises base salary a
212、nd bonus,social insurance and other benefits as well as equity-settled share-based payments by Central China Real Estate Limited(previously the holding company of the Group)and the Company paid to the Groups employees.Such cost does not include salary,bonus,social insurance and housing funds,and oth
213、er benefits and fees paid to the Groups employees who are seconded to relevant project companies in connection with real property development projects managed by us,which are borne by respective project owners and paid by the project owners to the seconded personnel directly.During the Year,personne
214、l cost amounted to RMB112.2 million,representing a decrease of 8.8%from RMB123.1 million in 2022.The decrease was primarily due to the decrease in personnel cost resulting from our strict control over personnel cost and expenses during the Year.Other Operating ExpensesThe Groups other operating expe
215、nses mainly comprise corporate overhead and business entertainment,office and travelling expenses.During the Year,other operating expenses amounted to RMB58.6 million,which was roughly flat as last year.Income TaxDuring the year,income tax amounted to RMB46.0 million,a decrease of 53.9%from RMB99.7
216、million in 2022.The effective income tax rate was 18.6%,6.1 percentage points lower than the effective tax rate of 24.7%for 2022,largely due to the fact that,in 2022,a withholding tax of RMB28.0 million was levied at 5%by the Companys subsidiary in Hong Kong on dividend distributions arising from pr
217、ofit of PRC subsidiaries earned after 1 January 2008.Profit for the YearDuring the Year,net profit amounted to RMB201.2 million,representing an decrease of 33.8%from RMB303.9 million in 2022,which was mainly due to the decrease in revenue and the increase in provision for impairment loss for the Yea
218、r.2023 ANNUAL REPORT 二零二三年年報43MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析貿易及其他應收款項於2023年12月31日，貿易及其他應收款項為人民幣1,121.5百萬元，較2022年12月31日的人民幣661.1百萬元增加69.6%。主要是由於第三方墊款增加。合約資產於2023年12月31日，合約資產為人民幣125.3百萬元，較2022年12月31日的人民幣425.0百萬元下降70.5%。主要是由於收入確認減少。貿易及其他應付款項於2023年12月31日，貿易及其他應付款項為人民幣300.4百萬元，較2022年12月31日的人民
219、幣116.2百萬元增加158.5%。主要由於2023年半年度中期股息人民幣124.9百萬元未在本年度內支付。合約負債於2023年12月31日，合約負債為人民幣309.9百萬元，較2022年12月31日的人民幣292.0百萬元增加6.2%。合同負債反映了於提供相關項目管理服務前的已收付款，本年度內增加主要是由於已收付款增加。Trade and Other ReceivablesAs of 31 December 2023,trade and other receivables amounted to RMB1,121.5 million,representing an increase of 6
220、9.6%from RMB661.1 million as of 31 December 2022.This was mainly attributable to advances increased paid by a third party.Contract AssetsContract assets amounted to RMB125.3 million as of 31 December 2023,representing a decrease of 70.5%from RMB425.0 million as of 31 December 2022,mainly due to lowe
221、r revenue recognised.Trade and Other PayablesTrade and other payables amounted to RMB300.4 million as of 31 December 2023,representing an increase of 158.5%from RMB116.2 million as of 31 December 2022.It was primarily because the 2023 interim dividend of RMB124.9 million has not been paid during the
222、 Year.Contract LiabilitiesContract liabilities amounted to RMB309.9 million as of 31 December 2023,representing an increase of 6.2%from RMB292.0 million as of 31 December 2022.Contract liabilities represent the payments received before the related project management service is provided.The increase
223、during the Year was primarily due to an increase in payments received.CENTRAL CHINA MANAGEMENT COMPANY LIMITED 中原建業有限公司44MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析Proceeds from the ListingThe ordinary shares of the Company(“Shares”)were listed on the Main Board of the Stock Exchange of Hong Kong(the
224、“Listing”)on 31 May 2021,with a total of 328,172,000 Shares issued pursuant to the Global Offering.After deducting the underwriting fees and relevant expenses,net proceeds from the Listing amounted to approximately HK$915.8 million(equivalent to RMB751.4 million).The following table sets out the int
225、ended use and actual use of the net proceeds as of 31 December 2023:Use of proceedsAllocation of use of the net proceedsPercentage of total net proceedsNet proceeds used during the YearActual use as of 31 December 2023Unutilised net proceeds as at 31 December 2023Timetable所得款項用途所得款項淨額的分配用途佔總所得款項淨額的百
226、分比年度內動用的所得款項淨額截至2023年12月31日的實際使用情況於2023年12月31日未動用的所得款項淨額時間表RMB million%RMB millionRMB millionRMB million人民幣百萬元%人民幣百萬元人民幣百萬元人民幣百萬元 1.Expanding into new markets in the“Greater Central China”region and new service offerings 拓展 大中原 地區的新市場和新服務300.540.0%24.451.3249.21.1 Setting up of new regional branch o
227、ffices 設立新的區域分公司75.110.0%1.75.070.1One to five years after Listing上市後一至五年1.2 Recruitment of new staffs to new branches 為我們的新分公司招募新僱員180.424.0%9.525.1155.3One to five years after Listing上市後一至五年1.3 Brand promotion 品牌推廣22.53.0%12.518.04.5One to five years after Listing上市後一至五年1.4 Recruitment of new staf
228、fs and efforts in developing new service offerings(including both government projects and capital projects)招募新僱員並努力開發新服務類型（包括政府項目及資本項目）22.53.0%0.73.219.3One to five years after Listing上市後一至五年2.Pursuing strategic investments and acquisitions 進行戰略投資和收購270.636.0%270.6One to five years after Listing上市後一
229、至五年3.Enhancing the information technology system 加強信息科技系統105.214.0%1.711.793.5One to five years after Listing上市後一至五年4.General working capital 一般營運資金75.110.0%75.1One to two years after Listing上市後一至二年 Total 總計751.4100.0%26.1138.1613.3 上市所得款項本公司普通股（股份）於2021年5月31日成功在香港聯交所主板上市（上市），現根據全球發售已發行合共328,172,000
230、股股份，剔除包銷費用及相關開支後，上市所得款項淨額約為915.8百萬港元（相當於人民幣751.4百萬元）。下表列示截至2023年12月31日所得款項淨額的預定用途和實際用途：2023 ANNUAL REPORT 二零二三年年報45MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析認購新股份於2022年11月18日（交易時段後），本公司（作為發行人）與十二名高淨值獨立認購人訂立十二份認購協議，內容有關按認購價及淨認購價每股認購股份0.80港元認購合共343,140,000股認購股份（認購事項）。於認購協議日期，每股收市價為0.62港元。認購事項項下認購股份之總面
231、值為3,431,400港元。該認購事項已於2023年5月3日完成。董事認為，認購事項將有利於本集團的長期發展，提供良機以籌集額外資金，加強財務狀況並擴充本公司的股東基礎及資本基礎，從而促進其業務的未來增長及發展以及增加股份的流動性。董事尤其相信認購事項乃本公司擴大本集團政府代建及資本代建業務規模的合適機會，同時允許本集團維持現有內部現金資源。Subscription of New SharesOn 18 November 2022(after trading hours),the Company(as issuer)entered into twelve subscription agreem
232、ents with twelve high net worth independent subscribers in respect of the subscription of an aggregate of 343,140,000 Subscription Shares at the subscription price and net subscription price of HK$0.80 per Subscription Share(the“Subscriptions”).On the date of the subscription agreements,the closing
233、price per Share was HK$0.62.The aggregate nominal value of the subscription Shares under the Subscriptions was HK$3,431,400.The Subscriptions have been completed on 3 May 2023.The Directors are of the view that the Subscriptions will benefit the Groups long term development by providing a good oppor
234、tunity to raise additional funds to strengthen the financial position and to broaden the Companys shareholder base and capital base to facilitate the future growth and development of its business as well as to increase the trading liquidity of the Shares.In particular,the Directors believe the Subsc
235、riptions represent a desirable opportunity for the Company to scale up the Groups government project management business and capital project management business,while allowing the Group to preserve its existing internal cash resources.CENTRAL CHINA MANAGEMENT COMPANY LIMITED 中原建業有限公司46MANAGEMENT DIS
236、CUSSION AND ANALYSIS管理層討論及分析認購事項所得款項淨額（經扣除認購事項所有適用成本及開支後）約為274.1百萬港元。下表載列截至2023年12月31日認購事項所得款項淨額的擬定用途及實際用途：有關認購事項的詳情，請參閱本公司日期為2022年11月18日及2022年12月16日的公告。The net proceeds from the Subscriptions(after deducting all applicable costs and expenses of the Subscriptions)were approximately HK$274.1 million.
237、The following table sets out the intended use and actual use of the net proceeds from the Subscriptions as of 31 December 2023:Allocation of use of proceeds from the SubscriptionsPercentage of proceeds from the SubscriptionsNet proceeds utilised during the PeriodActual use as of 31 December2023Unuti
238、lised net proceeds as at 31 December2023TimetableUse of proceeds 所得款項用途認購事項所得款項用途的分配佔認購事項所得款項的百分比期內已動用所得款項淨額截至2023年12月31日的實際用途於2023年12月31日未動用所得款項淨額時間表(HK$million)(RMB million)(%)RMB millionRMB millionRMB million（百萬港元）（人民幣百萬元）(%)人民幣百萬元人民幣百萬元人民幣百萬元 Unutilised net proceeds as at 30 June 2023Unutilised
239、net proceeds as at 30 June 2023Unutilised net proceeds as at 30 June 2023Unutilised net proceeds as at 30 June 2023 Development of government project management business政府代建業務的 發展137.0123.550.0%123.5Within 3 years after completion of the Subscriptions於認購事項完成後 3年內Development of capital project manage
240、ment business資本代建業務的 發展123.4111.145.0%111.1Within 3 years after completion of the Subscriptions於認購事項完成後 3年內General working capital一般營運資金13.712.45.0%5.25.27.2Within 2 years after completion of the Subscriptions於認購事項完成後 2年內 Total總計274.1247.0100.0%5.25.2241.8 For details of the Subscriptions,please ref
241、er to the announcements of the Company dated 18 November 2022 and 16 December 2022.2023 ANNUAL REPORT 二零二三年年報47MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析財務資源管理及資本結構本集團已採納全面的財政政策和內部控制措施來審查和管理我們的財務資源。於2023年12月31日，現金及現金等價物為人民幣1,835.8百萬元（2022年12月31日：人民幣1,564.6百萬元）。於2023年12月31日，本集團概無任何借款，維持於淨現金狀態。於本年度內，本
242、公司已派發股息合共人民幣88.6百萬元。資本負債比率為借款總額除以權益總額，即按截至相應日期的長期和短期計息銀行貸款與其他貸款的總和除以截至相同日期的權益總額計算。截至2023年12月31日，資本負債比率為零（2022年12月31日：零）。重大借貸交易於2023年12月31日，本集團的其他應收款項為人民幣840.4百萬元，主要包括第三方墊款人民幣747.95百萬元。該等第三方墊款主要包括2022年12月1日向四名戰略客戶（即獨立第三方）提供本金分別為人民幣100百萬元、人民幣100百萬元、人民幣120百萬元及人民幣108.53百萬元的貸款，期限為一年。2023年12月27日，本集團與上述借款人
243、訂立貸款延期協議，延期至2024年11月30日或之前償還，本金分別為人民幣100百萬元、人民幣100百萬元、人民幣120百萬元及人民幣102.6百萬元。應收貸款為無擔保及抵押。各貸款的背景及原因相似。所有交易對手借款人均為本集團的現有客戶，彼等過往亦曾與本公司合作多個項目，重點為開發華中地區的地塊。本公司與該等客戶的持續合作符合本公司的 大中原 戰略。因此，本公司認為該等客戶具有策略性。Financial Resources Management and Capital StructureThe Group has adopted comprehensive treasury policies
244、 and internal control measures to review and monitor its financial resources.As of 31 December 2023,cash and cash equivalents amounted to RMB1,835.8 million(31 December 2022:RMB1,564.6 million).The Group maintained at net cash position as of 31 December 2023 without any borrowings.The Company paid d
245、ividend of RMB88.6 million in total during the Year.The gearing ratio is calculated as total borrowings divided by total equity,i.e.the sum of long-term and short-term interest bearing bank loans and other loans as of the corresponding date divided by the total equity as of the same date.As of 31 De
246、cember 2023,the gearing ratio was nil(31 December 2022:Nil).Material lending transactionsAs at 31 December 2023,the Group had other debtors amounting to RMB840.4 million,mainly consisting of advances to third parties of RMB747.95 million.Such advances to third parties mainly included loans provided
247、to four strategic customers(being independent third parties)in the principal amounts of RMB100 million,RMB100 million,RMB120 million and RMB108.53 million respectively on 1 December 2022,for a term of one year.On 27 December 2023,the Group entered into loan extension agreements with borrowers afores
248、aid whereby the maturity were extended to on or before 30 November 2024 with principals of RMB100 million,RMB100 million,RMB120 million and RMB102.6 million to be repaid.The loan receivables are unguaranteed and unsecured.The background and reasons for each of the loans are similar.All of the counte
249、rparty borrowers are the Groups existing customers who have also in the past cooperated with the Company on multiple projects,with a focus on developing land parcels in the Central China region.The Companys continued cooperation with such customers is consistent with the Companys“Greater Central Chi
250、na”strategy.Therefore,the Company considers such customers to be of a strategic nature.CENTRAL CHINA MANAGEMENT COMPANY LIMITED 中原建業有限公司48MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析各貸款的主要目的為協助該等客戶成功收購及開發相關地塊，由於本公司將獲委聘為相關地塊的項目管理服務提供商，該等貸款將為本公司及客戶帶來雙贏局面。此外，本公司以輕資產業務模式運營。鑑於該等現金將增加本公司獲得更多項目管理合約的能力（如上所述），
251、並通過收取利息成為額外的收入來源，授予此類貸款還讓本公司能夠更好地利用其閑置現金。該等貸款亦為相對短期（一年）。於訂立各貸款前，本公司根據其內部政策進行信貸風險評估，包括評估及監察過往結算記錄及過往與該等戰略客戶的業務合作經驗，對相關項目進行分析及預測，以及計及當前市況及未來經濟狀況預測。此外，本公司考慮：(i)鑑於本公司過往曾為該等客戶提供多個其他項目的項目管理服務，而該等客戶依賴本公司開發其項目並最終維持其業務（鑑於彼等缺乏物業開發經驗及或能力），故本公司與該等客戶存在良好互利關係；(ii)誠如上文所討論，貸款的主要目的為協助客戶成功收購及開發相關地塊，由於本公司將獲委聘為相關地塊的項目管
252、理服務提供商，該等貸款將為本公司及客戶帶來雙贏局面；及(iii)該等現有客戶已按時向本公司支付與其項目有關的所有應付費用開支，並（倘適用）按時償還欠本公司的貸款。經考慮上文所述，董事（包括獨立非執行董事）認為各貸款乃按公平合理之條款訂立，符合本公司及其股東（股東）之整體利益。The main purpose of each loan has been to assist such customers to successfully acquire and develop the relevant land parcel(s),which will result in a win-win sit
253、uation for both the Company and the customer,as the Company will be engaged as the project management service provider for the relevant land parcel(s).Further,the Company operates an asset-light business model.Granting such loans also allowed the Company to make better use of its idle cash,given tha
254、t such cash would increase the Companys ability to acquire more project management contracts(as mentioned above),as well as provide an additional source of income by way of the interest.Such loans were also relatively short term(being one year).Prior to entering into each of the loans,the Company co
255、nducted a credit risk assessment in line with its internal policy,which included assessing and monitoring historical settlement records and past business cooperation experience with such strategic customers,conducting analysis and projections for the relevant project,as well as current market condit
256、ions and forecasts of future economic conditions.In addition,the Company considered:(i)its good and mutually beneficial relationship with such customers,given the Company has provided such customers with project management services for several other projects in the past,and such customers rely on th
257、e Company to develop their projects and ultimately sustain their businesses(given their lack of property development experience and/or capabilities);(ii)as discussed above,the main purpose of the loans is to assist customers to successfully acquire and develop the relevant land parcel(s),which will
258、result in a win-win situation for both the Company and the customers,as the Company will be engaged as the project management service provider for the relevant land parcel(s);and(iii)such existing customers have paid all fees/expenses payable to the Company in relation to their projects on time,and
259、where applicable,repaid their loans owed to the Company on time.Having considered the above,the Directors(including the independent non-executive Directors)consider that each of the loans had been entered into on terms that are fair and reasonable which was in the interests of the Company and its sh
260、areholders(“Shareholders”)as a whole.2023 ANNUAL REPORT 二零二三年年報49MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析於2023年12月31日，全部貸款本金金額因尚未到期而仍未償還。本集團根據過往結付記錄及過往經驗、現時狀況及未來經濟情況預測監督及管理貸款。根據香港財務報告準則第9號的預期信貸虧損模式，貸款的信貸風險自初始確認以來並未大幅上升，且本集團按相等於12個月的預期信貸虧損的金額計量彼等的虧損撥備。本集團於截至2023年12月31日止年度就貸款錄得應收貸款減值虧損合共約人民幣10.8百萬元，
261、董事認為該等減值虧損並不重大。截至本報告日期，四名借款人已償還所有貸款本金。有關詳情，請參閱本公司日期分別為2023年4月13日及2023年12月27日的公告。債務於本年度內，本集團並無任何重大借款。外匯風險本集團主要集中於中國經營業務，絕大部分業務以人民幣進行。因此，本集團承受最低外匯風險。惟人民幣及港元兌外幣貶值或升值可影響本集團的業績。本集團目前並無對沖外匯風險，但會持續監察外匯風險，管理層將於本集團受到重大影響時考慮對沖外匯風險。或然負債及資本承擔於2023年12月31日，本集團並無任何重大或然負債及資本承擔。資產抵押於本年度內，本集團並無資產抵押事宜。As at 31 Decembe
262、r 2023,the full principal loan amounts remained outstanding as they have not yet become due.The Group monitors the exposures and manages the loans based on historical settlement records and past experience,current conditions and forecasts of future economic conditions.Pursuant to HKFRS 9s expected c
263、redit losses model,the credit risk on the loans has not increased significantly since initial recognition,and the Group measures the loss allowance for them at an amount equal to 12-month expected credit loss.The Group recorded impairment losses on loan receivables in relation to the loans in the ag
264、gregate amount of approximately RMB10.8 million for the year ended 31 December 2023,which the Directors consider to be immaterial.As at the date of this report,the four borrowers have repaid all principal loan amounts.For details,please refer to the announcements of the Company dated 13 April 2023 a
265、nd 27 December 2023 respectively.DebtDuring the Year,the Group had no significant borrowings.Foreign Exchange RiskThe Group conducts substantially all of its business in China and in RMB.Therefore,the Group is exposed to minimum foreign exchange risks.However,the depreciation or appreciation of RMB
266、and HK$against foreign currencies may have impact on the Groups results.Currently,the Group does not hedge foreign exchange risks,but will continue to closely monitor its exposure to foreign exchange risks.The management will consider hedging foreign exchange risks when the Group becomes materially
267、affected by such risks.Contingent Liabilities and Capital CommitmentAs at 31 December 2023,the Group did not have any significant contingent liabilities and capital commitment.Pledge of AssetsDuring the Year,the Group did not have any pledged assets.CENTRAL CHINA MANAGEMENT COMPANY LIMITED 中原建業有限公司5
268、0MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析重大收購及出售於本年度內，本集團並無重大收購或出售附屬公司、聯營公司或合營企業。重大投資於2023年12月31日，本集團無持有任何重大投資。報告期後事項於2023年12月31日之後及直至本年報日期，概無發生影響本集團的重要事項。僱員及薪酬政策截至2023年12月31日，本集團共有877名全職僱員，包括499名派駐至相關項目公司以進行本集團在管的房地產開發項目的僱員。公司的可持續增長依賴僱員的能力及忠誠度。公司管理層明白實現僱員個人價值的重要性，並為在不同業務部門尋求職業發展的所有僱員建立透明的評估制度。公司建
269、立以績效為基礎的僱員薪酬架構以獎勵僱員表現及業績。公司亦根據發展戰略及市場標準不時調整薪酬。促進公司內部良性競爭並最大限度激勵員工的潛能，不斷優化現行薪酬激勵體系，為保留和吸納優秀人才提供保證。此外，公司認識到為僱員提供全面持續培訓計劃的重要性，以提高僱員的業務技能，增強其風險管理能力並幫助其展現高標準的勤勉盡職。公司根據僱員的任期為其提供各種側重點不同的培訓計劃。除內部培訓之外，亦聘請第三方培訓機構為我們的僱員提供線上及線下培訓。透過該等舉措，團隊成員可獲取有關行業趨勢及市場動態的最新資料，從而以充滿凝聚力及活力的穩定人才儲備支持公司長期及可持續的發展。Material Acquisitio
270、ns and DisposalsDuring the Year,the Group did not have any material acquisitions or disposals of subsidiaries,associates or joint ventures.Major InvestmentAs of 31 December 2023,the Group did not hold any significant investment.Events After The Reporting PeriodSubsequent to 31 December 2023 and up t
271、o the date of this annual report,no important event affecting the Group has occurred.Employees and Remuneration PoliciesAs at 31 December 2023,the Group had approximately 877 full-time employees,including 499 employees assigned to relevant project companies to carry out property development projects
272、 under the Groups management.The Companys sustainable growth depends on the ability and loyalty of employees.The management of the Company,who understands the importance of realising the personal value of employees,has established a transparent evaluation system for all employees seeking career deve
273、lopment in various business units.A performance-based compensation structure was set up to reward employees for their performance.The Company also adjusted compensation from time to time in accordance with its development strategies and market standards.Efforts have been made to promote the healthy
274、competition within the Company,maximise the potential of employees,continuously optimise the current compensation incentive system to retain and attract excellent talents.In addition,the Company recognises the importance of providing employees with comprehensive and sustainable training programmes t
275、o improve their business skills,enhance their risk management capabilities and help them demonstrate high standards of diligence and dedication.It provided employees with various training programmes with different emphasis based on their tenure.In addition to internal trainings,third-party training
276、institutions were also invited to provide online and offline trainings for the Groups employees.Through these measures,team members can get access to the latest information on industry trends and market development.so a stable talent pool full of cohesion and vitality will support the Companys long-
277、term and sustainable development.2023 ANNUAL REPORT 二零二三年年報51CORPORATE GOVERNANCE REPORT企業管治報告CORPORATE GOVERNANCE PRACTICESThe Group is committed to achieving high corporate governance standards to safeguard the interests of its stakeholders.The Company has applied the principles in the Corporate G
278、overnance Code(“CG Code”)in Appendix C1 of the Listing Rules by conducting its business by reference to the principles of the CG Code and emphasising such principles in the Companys governance framework.To the best knowledge of the Directors,the Company has complied with all applicable code provisio
279、ns under the CG Code during the Year.CULTURE AND VALUEThe Company takes win-win cooperation as its guiding ideology and“jointly builds industry and develops together”as its vision and goal.The Group strives to maintain high standards of business ethics and corporate governance across the Company.The
280、 Group has a whistleblowing policy in place to support employees and other contacts,such as customers or suppliers,to anonymously raise their concerns with the Audit Committee about any possible irregularities.At the same time,the Group formulated a clear anti-corruption policy to support anti-corru
281、ption laws and regulations,and promoted a culture of integrity internally.In order to create long-term sustainable growth for shareholders and deliver long-term values to all stakeholders,the board will continue to monitor and evaluate the culture of the Company by:Reviewing the companys decisions a
282、nd actions to assess whether they are consistent with the desired culture;Undertaking staff and stakeholders engagements;and Making reference to complaints received,disclosures by whistleblowers,staff turnover rate and code of conduct/regulatory breaches for potential areas of concerns.MODEL CODE FO
283、R SECURITIES TRANSACTIONS BY DIRECTORS OF LISTED ISSUERSThe Company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers(the“Model Code”)in Appendix C3 to the Listing Rules as the code of conduct for the Directors in their dealings in the Companys securities.Having m
284、ade specific enquires with each Director,the Company confirmed that the Directors had complied with the required standard as set out in the Model Code for the Year.企業管治常規為保障利益相關者權益，本集團致力達致高水平的企業管治標準。本公司已透過參照企業管治守則原則開展業務及於本公司治理框架中強調該等原則，應用上市規則附錄C1所載的企業管治守則（企業管治守則）的原則。就董事所深知，本公司於本年度已遵守企業管治守則所載的所有適用守則條
285、文。文化及價值本公司以合作共贏為指導思想，以 共建業、同發展 為願景目標。本集團致力於在本公司上下維持高水準的商業道德及企業管治。本集團制定了舉報政策，支持僱員及其他往來者（如客戶或供應商）以不具名方式向審核委員會提出其對任何可能違規行為的關注。同時，本集團制定了清晰的反貪污政策支持反貪污法律及規例，並在內部推崇廉潔文化。為給股東創造長期可持續的增長及為所有利益相關者帶來長期價值，董事會將繼續監控及評估本公司的文化，措施如下：審視公司的決定及行動，以評估與理想文化是否貫徹一致；推動員工及利益相關者參與；及 參考已收到的投訴、舉報人的披露信息、員工流失率及可能受關切方面的操守準則監管違規行為。上
286、市發行人董事進行證券交易的標準守則本公司已採納上市規則附錄C3上市發行人董事進行證券交易的標準守則（標準守則）作為其董事進行本公司證券交易的操守準則。經向各董事作出具體查詢後，本公司確認董事於本年度一直遵守標準守則所載的規定標準。CENTRAL CHINA MANAGEMENT COMPANY LIMITED 中原建業有限公司52CORPORATE GOVERNANCE REPORT企業管治報告BOARD OF DIRECTORSThe Board,which is chaired by Mr.Wu Po Sum,consists of three executive Directors an
287、d five non-executive Directors,three of whom are independent.The composition of the Board ensures a balance of skills and experience appropriate for the requirements of the business of Group and the exercising of independent opinion.The Directors who held office during the Year and up to the date of
288、 this report include:Chairman and Non-executive DirectorMr.Wu Po Sum*Executive DirectorsMr.Hu BingMr.Chen Aiguo(appointed on 9 January 2023)Mr.Duan Juwei(appointed on 9 January 2023)Mr.Ma Xiaoteng(resigned on 9 January 2023)Non-executive DirectorsMs.Wu Wallis(alias Li Hua)*(resigned on 14 June 2024)
289、Independent Non-executive DirectorsMr.Zhu Baoguo(resigned on 10 October 2024)Mr.Xu YingMr.Siu Chi Hung(retired on 30 May 2024)Mr.Liu Dianchen(appointed on 31 May 2024)Ms.Yan Yingchun(appointed on 27 December 2024)*Mr.Wu Po Sum is the father of Ms.Wu Wallis.All executive Directors and non-executive D
290、irectors have entered into service contracts or letters of appointment with the Company for a specific term of 3 years.Under the articles of association(the“Articles of Association”)of the Company,the Board is empowered to appoint any person as a Director to fill the casual vacancy on or as an addit
291、ional Director.董事會董事會由胡葆森先生擔任主席，由三名執行董事及五名非執行董事組成，其中三名為獨立董事。董事會的人員組成確保了技能及經驗的平衡，以適應本集團業務的要求及出具獨立意見。於本年度及直至本報告日期在任之董事包括：主席兼非執行董事胡葆森先生*執行董事胡冰先生陳愛國先生（於2023年1月9日獲委任）段居偉先生（於2023年1月9日獲委任）馬曉騰先生（於2023年1月9日辭任）非執行董事李樺女士*（於2024年6月14日辭任）獨立非執行董事朱保國先生（於2024年10月10日辭任）徐穎先生蕭志雄先生（於2024年5月30退任）劉殿臣先生（於2024年5月31日獲委任）閆穎春
292、女士（於2024年12月27日獲委任）*胡葆森先生為李樺女士的父親。所有執行董事及非執行董事已與本公司訂立為期3年的服務合約或委任書。根據本公司組織章程細則（章程細則），董事會有權任命任何人士為董事，以填補臨時空缺或作為新增董事。2023 ANNUAL REPORT 二零二三年年報53CORPORATE GOVERNANCE REPORT企業管治報告於本年度，根據上市規則第3.10條及3.10A條，本公司已委任三名獨立非執行董事（佔董事會人數三分之一），其中一名在會計及財務管理領域擁有適當的專業資格。三名獨立非執行董事均已確認其對本公司的獨立性。本公司根據上市規則第3.13條所載的獨立性評估指
293、引，認為彼等均具獨立性。三名獨立非執行董事均已與本公司訂立具體任期三年的委任書。獨立非執行董事朱保國先生辭任後，自2024年10月10日起，本公司僅有兩名獨立董事，因此不符合（其中包括）上市規則第3.10(1)條的規定。自2024年12月27日起，閆穎春女士獲委任為獨立非執行董事後，本公司已重新遵守上市規則第3.10(1)條。詳情請參閱本公司日期分別為2024年10月10日及2024年12月27日的公告。根據章程細則第83(3)條，董事會為增補現有董事會而委任的任何董事，其任期直至本公司舉行下屆股東週年大會為止，屆時可膺選連任。根據章程細則第84條，於本公司每屆股東週年大會上，按當時在任董事人
294、數計三分之一（或倘數目並非三的倍數，則取最接近但不少於三分之一的數目）的董事須於股東週年大會上退任，惟每位董事每三年至少須輪值退任一次。退任董事於其退任的大會上仍屬董事，並符合資格膺選連任。輪值退任的董事（就確定輪值退任董事人數而言屬必需）包括任何有意退任而無意膺選連任的董事。其餘退任的董事將為自上次重選連任或獲委任以來任期最長而須輪值退任的其他董事。根據章程細則第83(3)條，劉殿臣先生於本公司2024年股東週年大會（2024年股東週年大會）上退任並獲膺選連任。根據章程細則第84(1)及84(2)條，朱保國先生及胡冰先生於2024年股東週年大會上退任，並符合資格及已獲膺選連任。Dring t
295、he Year,in compliance with Rules 3.10 and 3.10A of the Listing Rules,the Company has appointed three independent non-executive Directors(representing one-third of the Board),one of whom possesses the appropriate professional qualifications in accounting and financial management.Each of the three ind
296、ependent non-executive Directors has confirmed his independence of the Company and the Company considers each of them to be independent in accordance with the guidelines of assessing independence as set out in Rule 3.13 of the Listing Rules.Each of the three independent non-executive Directors has s
297、igned a letter of appointment with the Company for a specific term of three years.Following the resignation of Mr.Zhu Baoguo,an independent non-executive Director,with effect from 10 October 2024,the Company had two independent Directors only,and was therefore not in compliance with,among others,the
298、 requirements of Rule 3.10(1)of the Listing Rules.Following the appointment of Ms.Yan Yingchun as an independent non-executive Director with effect from 27 December 2024,the Company has recompiled with Rule 3.10(1)of the Listing Rules.For details,please refer to the announcements of the Company date
299、d 10 October 2024 and 27 December 2024 respectively.Pursuant to Article 83(3)of the Articles of Association,any Director appointed by the Board as an addition to the existing Board shall hold office only until the next following annual general meeting of the Company and shall then be eligible for re
300、-election.Pursuant to Article 84 of the Articles of Association,at every annual general meeting of the Company,one-third of the Directors for the time being(or,if their number is not a multiple of three,the number nearest to but not less than one-third)shall retire from office by rotation provided t
301、hat every Director shall be subject to retirement at an annual general meeting at least once every three years.A retiring Director shall be eligible for re-election and shall continue to act as a Director throughout the meeting at which he retires.The Directors to retire by rotation shall include(so
302、 far as necessary to ascertain the number of directors to retire by rotation)any Director who wishes to retire and not to offer himself for re-election.Any further Directors so to retire shall be those of the other Directors subject to retirement by rotation who have been longest in office since the
303、ir last re-election or appointment.In accordance with Articles 83(3)of the Articles of Association,Mr.Liu Dianchen retired from office and offered himself for re-election at the 2024 annual general meeting of the Company(2024 AGM).In accordance with Articles 84(1)and 84(2)of the Articles of Associat
304、ion,Mr.Zhu Baoguo and Mr.Hu Bing retired from their offices,and being eligible,offered themselves for re-election at the 2024 AGM.CENTRAL CHINA MANAGEMENT COMPANY LIMITED 中原建業有限公司54CORPORATE GOVERNANCE REPORT企業管治報告所有董事均已付出足夠的時間和精力處理本集團事務，特別是獨立非執行董事已向董事會提供了各種專業知識及專業意見。董事會認為，董事會的執行董事、非執行董事及獨立非執行董事的比例均
305、衡，獨立非執行董事能發揮足夠的制衡作用，以維護本集團及其股東的利益。獨立非執行董事參與董事會及轄下委員會的會議，亦對策略、政策、業績、問責、利益衝突及行為準則等方面提供了獨立判斷。董事會成員可及時獲得有關本集團業務的資料；本集團亦會應其要求提供進一步的文件和資料，使彼等能夠作出知情決定。其亦可要求尋求獨立專業意見，以彼等履行職責，費用由本集團承擔。於2023年，董事會成員並無尋求有關意見。本公司已購買適合及充足保險，以覆蓋董事就企業活動期間產生對董事所提出法律訴訟的責任。董事會的責任董事會負責領導及控制本集團，並負責實現本集團最佳財務表現及作出符合本集團及股東最佳利益的決定。在董事會主席（主席
306、）胡葆森先生的領導下，董事會還負責制訂及指導本集團的業務策略及政策，批准及監督年度預算及業務計劃，檢討業務及財務表現，檢討及監督本集團的財務控制及風險管理體系。董事會已委派本集團執行董事及管理層負責本集團日常運營及管理，並執行董事會的政策及策略。有關董事的資料變動概無須根據上市規則第13.51B(1)條作出披露的資料。All Directors have given sufficient time and attention to the affairs of the Group and in particular,the independent non-executive Directors
307、 have provided the Board with their diversified expertise and professional advices.The Board is of the view that there is a balanced composition of executive,non-executive and independent non-executive Directors in the Board and the independent non-executive Directors are able to provide sufficient
308、checks and balances to safeguard the interests of the Group and its Shareholders.The participation of the independent non-executive Directors in the Board and committee meetings also provides independent judgment on the issues relating to strategy,policy,performance,accountability,conflict of intere
309、st and standards of conduct.The Board members have access to timely information relating to the Groups business and will be provided with further documents and information upon request to enable them to make informed decisions.Independent professional advice can be sought to discharge their duties a
310、t the Groups expense upon their request.No such advice was sought during 2023.The Company has subscribed appropriate and sufficient insurance coverage on Directors liabilities in respect of legal actions taken against Directors arising out of corporate activities.RESPONSIBILITY OF THE BOARDThe Board
311、 is in charge of leadership and control of the Group and is responsible for maximising the Groups financial performance and making decisions in the best interests of the Group and its Shareholders.Under the leadership of Mr.Wu Po Sum,the chairman of the Board(the“Chairman”),the Board is also respons
312、ible for formulating and overseeing the business strategies and policies of the Group,approving and monitoring annual budgets and business plans,reviewing operational and financial performance,and reviewing and monitoring the Groups financial control and risk management systems.The Board has delegat
313、ed the daily operation and day-to-day management of the Group as well as the implementation of the Boards policies and strategies to the executive Directors and management of the Group.CHANGES OF INFORMATION IN RESPECT OF DIRECTORSThere is no information required to be disclosed pursuant to Rule 13.
314、51B(1)of the Listing Rules.2023 ANNUAL REPORT 二零二三年年報55CORPORATE GOVERNANCE REPORT企業管治報告董事會會議及股東大會董事會定期及於必要的其他時間舉行會議，以檢討本集團的財務、內部及合規監控、風險管理、公司策略及經營業績。此外，董事會舉行股東大會以維持與股東的持續對話。於本年度，董事會舉行了4次定期會議、1次薪酬委員會會議、1次提名委員會會議及2次審核委員會會議以及2次股東大會。各董事於本年度出席的董事會會議、轄下委員會會議及股東大會的次數載於下表：本公司已向全體董事發出定期董事會會議的充分通告及臨時董事會會議的合理
315、提前通告，以確保彼等均有機會出席會議並已向全體董事及時派發議程及隨附的董事會文件。經董事會同意後，董事亦可尋求獨立專業意見，費用由本公司承擔。於2023年，董事會成員並無尋求有關意見。在董BOARD MEETINGS AND GENERAL MEETINGThe Board holds meetings regularly and meets at other times as and when required to review financial,internal and compliance controls,risk management,company strategy and o
316、perating performance of the Group.In addition,the Board holds general meeting to maintain an on-going dialogue with the Shareholders.For the Year,the Board held 4 regular meetings,1 remuneration committee meeting,1 nomination committee meeting and 2 audit committee meetings and 2 general meetings.Th
317、e number of Board meetings,committee meetings and general meeting attended by each Director for the Year is set out in the following table:DirectorsBoard MeetingAudit Committee MeetingRemuneration Committee MeetingNomination Committee MeetingGeneral Meeting董事董事會會議 審核委員會會議 薪酬委員會會議 提名委員會會議股東大會 Number
318、of meetings held舉行會議次數Wu Po Sum胡葆森4/4N/A不適用1/11/11/2Hu Bing胡冰4/4N/A不適用N/A不適用N/A不適用2/2Ma Xiaoteng(resigned on 9 January 2023)馬曉騰（於2023年 1月9日辭任）N/A不適用N/A不適用N/A不適用N/A不適用N/A不適用Chen Aiguo(appointed on 9 January 2023)陳愛國（於2023年 1月9日獲委任）4/4N/A不適用N/A不適用N/A不適用1/2Duan Juwei(appointed on 9 January 2023)段居偉（於20
319、23年 1月9日獲委任）4/4N/A不適用N/A不適用N/A不適用2/2Wu Wallis(alias Li Hua)(resigned on 14 June 2024)李樺（於2024年 6月14日辭任）4/4N/A不適用N/A不適用N/A不適用2/2Zhu Baoguo(resigned on 10 October 2024)朱保國（於2024年10月10日辭任）4/42/21/11/10/2Xu Ying徐穎4/42/21/11/12/2Siu Chi Hung(retired on 30 May 2024)蕭志雄（於2024年 5月30日退任）4/41/1N/A不適用N/A不適用2/2
320、Sufficient notice for regular Board meetings and notice of reasonable days for ad hoc Board meetings were given to all Directors so as to ensure that each of them had an opportunity to attend the meetings,and agenda and accompanying Board papers were given to all Directors in a timely manner.As agre
321、ed by the Board,the Directors may also seek independent professional advice at the Companys CENTRAL CHINA MANAGEMENT COMPANY LIMITED 中原建業有限公司56CORPORATE GOVERNANCE REPORT企業管治報告事會會議的間隔期間，本公司高級管理層及時向董事提供所有有關本集團業務重大發展或變動的資料。倘董事於董事會會議的審議事項上存在潛在利益衝突，該董事將就相關決議案放棄投票。無利益衝突的獨立非執行董事將出席董事會會議處理該等事宜。本公司已採納定期召開董事
322、會會議的常規。本公司就所有定期舉行的董事會會議發出不少於14天的通知，以給予全體董事出席定期會議及將相關事項納入議程的機會。就其他董事會及委員會會議而言，將會發出合理的通知。議程及隨附的董事會文件會於舉行會議前最少三天寄發予董事或委員會成員，以確保彼等有充足時間審閱該等文件並作充分準備。當董事或委員會成員未能出席會議，彼等將獲知會有關將予討論的事宜，並有機會在舉行會議前向主席發表意見。管理層已向董事會及其委員會提供足夠資料及說明，使彼等能就有待董事會及其委員會批准之財務及其他資料作出知情評估。管理層亦於適當情況下獲邀出席董事會會議或委員會會議。全體董事亦有權取得及時資料，如有關本集團業務之每月
323、更新及有權分別獨立會見高級管理人員。董事培訓企業管治守則守則條文第C.1.4條規定全體董事應確保參與持續專業培訓計劃，提高及更新其知識及技能。此舉確保彼等向董事會提供全面及相關之貢獻。expense.No such advice was sought during 2023.During the intervals between Board meetings,the senior management of the Company provides the Directors with information on a timely basis regarding all major dev
324、elopments or changes in the Groups businesses.Should a Director have a potential conflict of interest in a matter being considered in the Board meeting,he or she will abstain from voting in respect of the relevant resolution.Independent non-executive Directors with no conflict of interest will be pr
325、esent at meetings to deal with such issues.The Company has adopted the practice of holding Board meetings regularly.Notice of not less than 14 days is given of all regular Board meetings to provide all Directors with the opportunity to attend and include matters in the agenda.For other Board and com
326、mittee meetings,reasonable notice is given.The agenda and accompanying board papers are despatched to the Directors or committee members at least three days before meetings to ensure that they have sufficient time to review these documents and be adequately prepared.When the Directors or committee m
327、embers are unable to attend a meeting,they are advised of the matters to be discussed and given an opportunity to make their views known to the chairman prior to the meeting.Management has supplied the Board and its committees with adequate information and explanations so as to enable them to make a
328、n informed assessment of the financial and other information put before the Board and its committees for approval.Management is also invited to join the Board or committee meetings where appropriate.All the Directors are also entitled to have access to timely information such as monthly updates in r
329、elation to the Groups businesses and have separate and independent access to senior management.DIRECTORS TRAININGCode provision C.1.4 of the CG Code requires all Directors to participate in continuous professional development to develop and refresh their knowledge and skills.This is to ensure that t
330、heir contribution to the Board remains informed and relevant.2023 ANNUAL REPORT 二零二三年年報57CORPORATE GOVERNANCE REPORT企業管治報告於本年度，公司秘書定期向全體董事派發有關法律、規則及規例之修訂或最新閱讀資料，作為本公司持續專業發展計劃之培訓材料，且本公司確認所有董事已閱讀該等培訓材料及遵守企業管治守則守則條文第C.1.4條。於本年度，除馬曉騰先生（彼於2023年1月9日辭任）外，全體董事已接受以下培訓：此外，每名新獲委任之董事將在其首次獲委任時收到介紹，以確保其妥善瞭解本公司之營運
331、及業務，以及其於法律、法規及尤其是本公司管治政策下之責任。主席及執行官根據企業管治守則守則條文第C.2.1條，主席及首席執行官之角色應予區分及不應由同一名個人履行。於2023年12月31日及直至本報告日期，主席職位由胡葆森先生擔任，而首席執行官（首席執行官）職位由王軍先生擔任。於本年度，王軍先生已獲委任為首席執行官以接替馬曉騰先生，自2023年1月9日起生效。首席執行官主要負責本集團之整體日常營運及管理以及戰略發展。主席及首席執行官之角色已明確定義及區During the Year,the Company Secretary regularly circulated reading mater
332、ials on the amendments to or updates on the relevant laws,rules and regulations to all Directors as part of their training materials in the continuous professional development plan of the Company and the Company confirmed that all Directors read the training materials and are in compliance with Code
333、 C.1.4 of the CG Code.During the Year,apart from Mr.Ma Xiaoteng who resigned on 9 January 2023,all Directors have received the following trainings:DirectorsTraining on corporate governance,regulatory development and other relevant topics董事有關企業管治、監管發展及其他相關議題的培訓 Wu Po Sum胡葆森Hu Bing胡冰Chen Aiguo(appointed on 9 January 2023)陳愛國（於2023年1月9日獲委任）Duan Juwei(appointed on 9 January 2023)段居偉（於2023年1月9日獲委任）Wu W
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