绿城管理控股2025年度报告

2025ANNUAL REPORT Contents 103Consolidated Statementof Profit or Loss and OtherComprehensive Income105Consolidated Statement ofFinancial Position107Consolidated Statement ofChanges in Equity108Consolidated Statement ofCash Flows112Notes to the ConsolidatedFinancial Statements325Definitions 2Corporate Profile4Corporate Information85Five-year Financial Summary9Director’s Report12Management Discussion and Analysis28Biographical Details of Directors andSenior Management39Report of the Directors71Corporate Governance Report94Independent Auditor’s Report 公司簡介Corporate Profile Greentown · Wuhan Liuan Mingcui 2010202072017202520% The Group is the pioneer and leader of China’s real estate asset-lightdevelopment model. Greentown Management was founded in 2010.It is a subsidiary of Greentown China and the main body for exportingthe “Greentown” brand and project management model. In July 2020,Greentown Management was listed on the Main Board of the HongKong Stock Exchange, becoming the first project management stock inChina. From 2017 to 2025, we had consecutively earned the accoladeof a Leading Enterprise in China’s Real Estate Project ManagementOperation() granted by China IndexAcademy, with a market share of over 20% for ten consecutive years,ranking first in the project management industry. 4.0 Greentown Management adheres to the core values of “quality,reliance, efficiency and sharing”, integrates resources, exports brandand standards through project management, and creates value forcustomers with customized solutions and high-quality services. Thecore business includes commercial project management, governmentproject management and other services. As the pioneer of the ProjectManagement 4.0 system and the “Greentown Star” standard setter,Greentown Management is committed to creating an ecologicalplatform of “co-creating value and sharing benefits” for clients, owners,suppliers, employees and investors to build an exciting quality life. 2025123131132 As of 31 December 2025, the Group’s project management projectswere distributed in 132 major cities in 31 provinces, municipalities andautonomous regions in China. 綠城管理控股有限公司 公司簡介Corporate Profile Greentown Management Holdings Company Limited 公司資料Corporate Information BOARD OF DIRECTORS Chairman of the Board and Non-executive Directors 2025425202633020263302025331 Mr. Geng Zhongqiang(Chairman)(appointed as Co-Chairman on 25 April 2025,and re-designated as Chairman on 30 March 2026) Mr. Guo Jiafeng(formerly served as Co-Chairman,resigned with effect from 30 March 2026)Mr. Zhang Yadong(formerly served as Co-Chairman,resigned with effect from 31 March 2025) Executive Directors 20251020 Mr. Wang Junfeng(Chief Executive Officer)Ms. Nie HuanxinMr. Cheng Min(appointed on 20 October 2025) Independent Non-executive Directors Mr. Lin ZhihongDr. Ding ZuyuMr. Chan Yan Kwan Andy AUDIT COMMITTEE Mr. Chan Yan Kwan Andy(Chairman)Mr. Lin ZhihongDr. Ding Zuyu REMUNERATION COMMITTEE Dr. Ding Zuyu(Chairman)Mr. Chan Yan Kwan AndyMr. Lin Zhihong NOMINATION COMMITTEE Mr. Lin Zhihong(Chairman)Mr. Chan Yan Kwan AndyDr. Ding ZuyuMs. Nie Huanxin(appointed on 22 August 2025) 2025822 AUTHORIZED REPRESENTATIVES Mr. Wang JunfengMs. Gu Jixiang JOINT COMPANY SECRETARIES Ms. Gu JixiangMs. Ng Sau Mei LEGAL ADVISORS As to Hong Kong laws:Allen Overy Shearman SterlingAs to Cayman Islands law:Maples and Calder (Hong Kong)LLPAs to PRC law:Zhejiang T&C Law Firm AUDITORErnst & Young REGISTERED OFFICE PO Box 309, Ugland HouseGrand Cayman, KY1-1104Cayman Islands PO Box 309, Ugland HouseGrand Cayman, KY1-1104Cayman Islands HEADQUARTERS 9/F, Block CXixi International767 Wen Yi West RoadXihu DistrictHangzhou, ZhejiangThe PRC 767C9 Greentown Management Holdings Company Limited 公司資料Corporate Information PRINCIPAL PLACE OF BUSINESS IN HONG KONG(CHANGED ON 15 JANUARY 2025) 2025115 Room 1406-140814/F, New World Tower 116-18 Queen’s Road CentralCentralHong Kong 16-18141406-1408 PRINCIPAL SHARE REGISTRAR AND TRANSFEROFFICE Maples Fund Services (Cayman) LimitedPO Box 1093Boundary HallCricket SquareGrand CaymanKY1-1102Cayman Islands Maples Fund Services (Cayman) LimitedPO Box 1093Boundary HallCricket SquareGrand CaymanKY1-1102Cayman Islands HONG KONG SHARE REGISTRAR 183171712-1716 Computershare Hong Kong Investor Services LimitedShops 1712-1716, 17th FloorHopewell Centre183 Queen’s Road EastWanchaiHong Kong PRINCIPAL BANKERS China Merchants Bank Co., Ltd.Agricultural Bank of China Ltd.Industrial and Commercial Bank of China LimitedChina Construction Bank Corp., Ltd.China CITIC Bank Co., Ltd.Bank of Hangzhou Co., Ltd.Shanghai Pudong Development Bank Co., Ltd.Standard Chartered Bank (Hong Kong) Limited COMPANY’S WEBSITE www.lcgljt.com www.lcgljt.com STOCK CODEHong Kong Stock Exchange: 09979 09979 LISTING DATE10 July 2020 2020710 5 年財務摘要Five-Year Financial Summary 202120222023202420251231 The following table summarizes the results, assets and liabilities of