I n t e r i m R e p o r t

Contents

Corporate Information

2

Financial Highlights

5

Chairman's Statement

6

Management Discussion and Analysis

11

Interim Consolidated Balance Sheet

20

Interim Consolidated Income Statement

22

Interim Consolidated Statement of Comprehensive Income

23

Interim Consolidated Statement of Changes in Equity

24

Interim Consolidated Statement of Cash Flows

26

Notes to the Interim Financial Information

28

Corporate Governance

77

Other Information

78

Land Bank Table

Corporate Information

Board of Directors

Mr. Chen Zhuo Lin* (Chairman and President) Mr. Chan Cheuk Yin** (Vice Chairperson) Madam Luk Sin Fong, Fion** (Vice Chairperson) Mr. Chan Cheuk Hung*

Mr. Huang Fengchao* Mr. Chen Zhongqi* Mr. Chan Cheuk Hei** Mr. Chan Cheuk Nam**

Dr. Cheng Hon Kwan# GBS, OBE, JP

Mr. Kwong Che Keung, Gordon#

Mr. Hui Chiu Chung, Stephen# JP Mr. Wong Shiu Hoi, Peter#

  • Executive Directors
  • Non-executiveDirectors
  • Independent Non-executive Directors

GBS

Gold Bauhinia Star

JP

Justice of the Peace

OBE

Officer of British Empire

Board Committees

Audit Committee

Mr. Kwong Che Keung, Gordon (Committee Chairperson) Dr. Cheng Hon Kwan GBS, OBE, JP

Mr. Hui Chiu Chung, Stephen JP Mr. Wong Shiu Hoi, Peter

Remuneration Committee

Dr. Cheng Hon Kwan GBS, OBE, JP (Committee Chairperson) Mr. Kwong Che Keung, Gordon

Mr. Hui Chiu Chung, Stephen JP Mr. Wong Shiu Hoi, Peter Madam Luk Sin Fong, Fion

Nomination Committee

Mr. Hui Chiu Chung, Stephen JP (Committee Chairperson) Dr. Cheng Hon Kwan GBS, OBE, JP

Mr. Kwong Che Keung, Gordon Mr. Wong Shiu Hoi, Peter Madam Luk Sin Fong, Fion

Risk Management Committee

Mr. Huang Fengchao (Committee Chairperson)

Mr. Chan Cheuk Hung

Mr. Chen Zhongqi

Mr. Wong Shiu Hoi, Peter

Company Secretary

Mr. Cheung Lap Kei

Authorised Representatives

Mr. Chen Zhuo Lin

Mr. Cheung Lap Kei

Auditor

PricewaterhouseCoopers

Legal Advisors

as to Hong Kong law:

Sidley Austin LLP

Iu, Lai & Li Solicitors & Notaries

as to the People's Republic of China law:

Jingtian & Gongcheng

as to British Virgin Islands and Cayman Islands laws:

Conyers Dill & Pearman

as to United States and English laws:

Sidley Austin LLP

Principal Bankers

Industrial and Commercial Bank of China Limited Agricultural Bank of China Limited

Bank of China Limited

China Construction Bank Corporation China Everbright Bank Company Limited Ping An Bank Co., Ltd.

China Merchants Bank Co., Ltd.

Shanghai Pudong Development Bank Co., Ltd.

The Hongkong and Shanghai Banking Corporation Limited The Bank of East Asia, Limited

Standard Chartered Bank (Hong Kong) Limited Hang Seng Bank Limited

Registered Office

Cricket Square

Hutchins Drive

P.O. Box 2681

Grand Cayman KY1-1111

Cayman Islands

Principal Place of Office in the People's Republic of China

33rd Floor, Agile Center

26 Huaxia Road

Zhujiang New Town

Tianhe District, Guangzhou

Guangdong Province

PRC

Postal Code: 510623

2 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Principal Place of Business in Hong Kong

18/F., Three Pacific Place

1 Queen's Road East

Hong Kong

Principal Share Registrar and

Transfer Office

SMP Partners (Cayman) Limited Royal Bank House - 3rd Floor 24 Shedden Road

P.O. Box 1586

Grand Cayman, KY1-1110 Cayman Islands

Corporate Information (continued)

Branch Share Registrar and

Transfer Office in Hong Kong

Tricor Investor Services Limited

Level 54, Hopewell Centre

183 Queen's Road East

Hong Kong

Telephone

:

(852) 2980 1333

Facsimile

:

(852) 2861 1465

Investor Relations

Capital Markets Department

E-mail

:

ir@agile.com.cn

Telephone

:

(852) 2847 3383

Facsimile

:

(852) 2780 8822

Website

www.agile.com.cn

Listing Information

  • Equity Securities
    1. The Company's ordinary shares (stock code: 3383) are listed on the Main Board of The Stock Exchange of Hong Kong Limited ("Hong Kong Stock Exchange").
    2. A-LivingServices Co., Ltd.^ (雅居樂雅生活服務股份有限公司) ("A-Living")'s H shares (stock code: 3319) are listed on the Main Board of Hong Kong Stock Exchange.
    3. Qingdao Huaren Property Co., Ltd.^ (青島華仁物業股份有限公司) (a direct non-wholly owned subsidiary of A-Living)'s ordinary shares (stock code: 832319) are listed on the National Equities Exchange and Quotations.
  • Debt Securities
    1. The Company's debt securities listed on the Official List of The Singapore Exchange Securities Trading Limited ("SGX"):
      1. 9.5% senior notes in an aggregate principal amount of US$400 million due 2020 (ISIN code: XS1900869683)
      2. 8.5% senior notes in an aggregate principal amount of US$600 million due 2021 (ISIN code: XS1856094724)
      3. 5.125% senior notes in an aggregate principal amount of US$200 million due 2022 (ISIN code: XS1659119629)
      4. 6.7% senior notes in an aggregate principal amount of US$500 million due 2022 (ISIN code: XS1959497782)
      5. 5.75% senior notes in an aggregate principal amount of US$500 million due 2025 (ISIN code: XS2194361494)
    3. The Company's debt securities listed on the Shanghai Stock Exchange:
      1. domestic non-public corporate bonds in an aggregate principal amount of RMB970 million due 2020 with an initial coupon rate of 4.98% (corporate bond code: 135690)
      2. domestic non-public corporate bonds in an aggregate principal amount of RMB3,000 million due 2020 with an initial coupon rate of 6.98% (corporate bond code: 145608)
      3. domestic non-public corporate bonds in an aggregate principal amount of RMB1,800 million due 2021 with an initial coupon rate of 4.60% (corporate bond code: 135882)
      4. domestic non-public corporate bonds in an aggregate principal amount of RMB1,200 million due 2023 with a coupon rate of 5.70% (corporate bond code: 135883)

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

3

Corporate Information (continued)

  1. The debt securities of Guangzhou Panyu Agile Realty Development Co., Ltd.^ (廣州番禺雅居樂房地產開發有 限公司) (an indirect wholly-owned subsidiary of the Company incorporated in China) listed on the Shanghai Stock Exchange:
    1. domestic corporate bonds in an aggregate principal amount of RMB1,600 million due 2021 with an initial coupon rate of 4.7% (corporate bond code: 136134)
    2. non-publicdomestic corporate bonds in an aggregate principal amount of RMB1,500 million due 2022 with an initial coupon rate of 6.2% (corporate bond code: 167129)
  • Capital Securities
    The Company's capital securities listed on the Official List of SGX:
    1. senior perpetual capital securities in an aggregate principal amount of US$500 million (ISIN code: XS1785422731)
    2. senior perpetual capital securities in an aggregate principal amount of US$700 million (ISIN code: XS2003471617)
    3. senior perpetual capital securities in an aggregate principal amount of US$500 million (ISIN code: XS2071413483)
    4. senior perpetual capital securities in an aggregate principal amount of US$200 million (ISIN code: XS2081524675)
  • for identification purposes only

4 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Financial Highlights

Income Statement Highlights

For the six months ended 30 June

2020

2019

Change

Revenue (RMB million)

33,527

27,114

+23.7%

Gross profit (RMB million)

11,520

8,220

+40.2%

Gross profit margin

34.4%

30.3%

+4.1 percentage points

Profit for the period (RMB million)

6,339

5,894

+7.6%

Net profit margin

18.9%

21.7%

-2.8 percentage points

Core net profit for the period* (RMB million)

6,518

4,807

+35.6%

Profit attributable to shareholders of the

Company (RMB million)

5,127

5,077

+1.0%

Core net profit attributable to shareholders

of the Company* (RMB million)

5,306

3,992

+32.9%

Basic earnings per share (RMB)

1.321

1.308

+1.0%

Interim dividend per ordinary share (HK cents)

50.0

60.0

-16.7%

Balance Sheet Highlights

As at

As at

30 June

31 December

2020

2019

Change

Total assets (RMB million)

301,810

273,232

+10.5%

Cash and cash equivalents (RMB million)

38,362

33,551

+14.3%

Restricted cash (RMB million)

8,046

9,004

-10.6%

Short-term borrowings (RMB million)

40,303

42,297

-4.7%

Long-term borrowings (RMB million)

58,636

54,373

+7.8%

Shareholders' equity (RMB million)

47,999

44,474

+7.9%

Return on equity (ROE)**

15.8%

16.9%

-1.1 percentage points

Total debt/total assets

32.8%

35.4%

-2.6 percentage points

Net debt/total equity

73.3%

82.8%

-9.5 percentage points

  • excluding fair value gains on investment properties, net exchange differences, fair value gains on derivative financial instruments, fair value gains on financial assets at fair value through profit or loss and the related tax effect.
  • Profit attributable to shareholders of the Company for the twelve months ended 30 June 2020 is adopted for calculation of ROE as at 30 June 2020.

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

5

Chairman's Statement

Dear Shareholders,

I am pleased to present the interim results for Agile Group Holdings Limited ("Agile" or the "Company") and its subsidiaries (collectively, the "Group") for the six months ended 30 June 2020 (the "Review Period").

Results and Dividends

For the Review Period, revenue of the Group amounted to RMB33,527 million, representing a year-on-year increase of 23.7%. Gross profit amounted to RMB11,520 million, representing a year-on-year increase of 40.2%. The Group's overall gross profit margin was 34.4%, a year-on-year rise of 4.1 percentage points. During the Review Period, core net profit for the period of the Group and core net profit attributable to shareholders of the Company were RMB6,518 million and RMB5,306 million respectively, representing a year-on-year increase of 35.6% and 32.9% respectively. The margin of core net profit for the period of the Group and the margin of core net profit attributable to shareholders of the Company were 19.4% and 15.8% respectively, representing a year-on-year increase of 1.7 percentage points and 1.1 percentage points respectively. Profit attributable to shareholders amounted to RMB5,127 million, representing a year- on-year increase of 1.0%.

For the six months ended 30 June 2020, revenue from recognised sales of property development was RMB29,310 million, representing a year-on-year increase of 18.7%. Revenues from property development business and diversified businesses accounted for 87.4% and 12.6% respectively. The proportion of revenue from diversified businesses increased year-on-year by 3.6 percentage points. The rise reflects the sustained effectiveness of the Group's operating model of "focusing on property development, supported by a diversified range of businesses".

The Company's board of directors (the "Board") has declared an interim dividend of HK50.0 cents per share for the six months ended 30 June 2020 (six months ended 30 June 2019: HK60.0 cents).

Business Review

During the Review Period, the rapid spread of the novel coronavirus ("COVID-19") worldwide caused unprecedented impact on the global economy. The central banks of many major economies have made vigorous efforts to solve the crisis and launched a number of extensive economic stimulus policies to rescue the market. According to market opinions, with the gradual resumption of economic activities in major economies including Europe and the United States, the effect of easing fiscal and monetary policies will show gradually. However, given uncertainties such as the pandemic and geopolitics, the pace of economic recovery is affected in various countries.

The pandemic has been gradually under control in China since the second quarter of 2020, and all sectors have resumed operation. According to the National Bureau of Statistics, the gross domestic product of China for the first half of the year decreased by 1.6% year on year, while the gross domestic product for the second quarter increased by 3.2%, which was a reversal of a 6.8% contraction in the first quarter, beating market expectation.

The Central Government continues to uphold the guideline of "houses are for living in, not for speculation" and implemented the goal of "stabilising land and housing prices and market expectations". During the Review Period, The People's Bank of China announced three cuts of the reserve requirement ratio, unlocking approximately RMB1.75 trillion long-term funds. The benchmark lending rate was adjusted downward twice. The economy of China as a whole advanced steadily. The Group continued to seize opportunities in China's stable property market and adhere to its operating model of "focusing on property development, supported by a diversified range of businesses".

6 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Chairman's Statement (continued)

Pre-sale Performance in Line with Expectation

During the Review Period, the aggregated pre-sale value of the Group, together with the joint ventures and associates of the Group as well as property projects carrying "Agile" brand name managed by the Group amounted to RMB55,100 million, representing 46% of the Group's pre - sale target for 2020. The corresponding GFA is 4.049 million sq.m., while the average selling price is RMB13,608 per sq.m.. This performance was in line with the Group's expectation.

In view of the economic recovery in each region, the Group actively introduced diversified online and offline sales strategies. During the Review Period, the Group achieved satisfactory pre-sale results in Southern China, Eastern China, Hainan and Yunnan and Northern China regions. The value of saleable resources exceeded RMB220 billion for the year of 2020, with more than 200 projects for sale across a number of cities in China and Overseas, generating stable long- term revenue streams for the Group. The Group strived to expand industry-city integration projects, further consolidating its diverse portfolio of property projects.

Prudent Replenishment of Land Bank in Existing Regions

During the Review Period, the Group diversified its land acquisition channels to strengthen its business presence. The Group strategically obtained 20 new high-quality projects through tender, auction, listing-for-sale, land application and equity acquisitions, further consolidating its foothold on property development business. The total planned GFA of the new land parcels was 3.75 million sq.m.. The total consideration of the new land parcels was RMB13.9 billion, with an average land cost of RMB3,718 per sq.m.. As at 30 June 2020, the Group had a land bank with total planned GFA of 53.03 million sq.m. in a total of 81 cities.

The Group held 13.11 million sq.m. of land bank, which accounted for 24.7% of its total land bank, in the Guangdong- Hong Kong-Macao Greater Bay Area (the "Greater Bay Area"). Following the Central Government's announcement of implementation opinions and action plans related to the development of the Greater Bay Area, the Group remains ideally positioned to benefit from the enormous potential for future development. In addition, the Group held 7.08 million sq.m. of land bank in the Yangtze River Delta, which accounted for 13.3% of its total land bank, with the accumulated number of development projects exceeding 50. The Group will continue to expand its market share in the Yangtze River Delta, thereby generating stable long - term revenue streams for the Group.

Diversified Businesses Prospering

In respect of diversified businesses, the Group's property management, environmental protection, ecological landscaping services and intelligent home and decoration services, urban renewal, real estate construction management and commercial business (including hotel operations and investment properties) continued to capitalise on synergies. During the Review Period, the Group's property management and environmental protection business recorded a year- on-year revenue growth of 111.1% and 68.5% respectively. The diversified businesses prospered across the board.

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

7

Chairman's Statement (continued)

Successful Acquisition of CMIG PM by A-Living

In continuing to implement a dual-branded development strategy emphasising both "Agile Property Management" and "Greenland Property Services" and actively drive growth through third-party developers as well as mergers and acquisitions, A-Living Services Co., Ltd. (雅居樂雅生活服務股份有限公司) ("A-Living") was able to further accelerate its business scale expansion. During the Review Period, A-Living completed the consolidation of one of the largest acquisitions in the industry so far, in which it acquired 60% equity interest in CMIG Futurelife Property Management Limited ("CMIG PM") and its subsidiaries to optimise its business portfolio layout and nationwide coverage, achieving leap-frog growth in scale. Upholding the principles of "management, service, empowerment and synergy", through the public services segment, A-Living enabled systematic management and targeted empowerment in acquired companies in the areas of investment and expansion, information system, benchmarking assessment, value-added services, incentive scheme and standard formulation, so as to achieve high-level integration in terms of business operation and corporate culture. With its increasing comprehensive strength and brand influence, the ranking of A-Living in the industry rose significantly by securing a foothold in the top five, and it ranked the 4th of the "2020 Top 100 Property Management Companies in China" by the China Index Academy. Also, being highly recognised by the capital market, A-Living has been included in the Hang Seng Composite Index, and eligible stocks for Shenzhen-Hong Kong Stock Connect, etc. during the Review Period.

As of 30 June 2020, the GFA under management and contracted GFA of A-Living (excluding GFA of consultant projects and its associates) were 353.4 million sq.m. and 491.3 million sq.m. in total, respectively. The contracted GFA from Agile Group and Greenland Holdings amounted to 78.1 million sq.m. and 48.4 million sq.m., respectively, representing an increase of 1.4% and 20.7% respectively as compared with that as of 31 December 2019. The contracted GFA from projects of Agile Group and Greenland Holdings accounted for 25.7% of the total contracted GFA. The contracted GFA from third-party developers (including contribution from M&A) amounted to 364.8 million sq.m. in total and the newly increased contracted GFA exceeded 183.1 million sq.m., representing a significant increase of 100.8% as compared with that as of 31 December 2019, and accounting for 74.3% of the total contracted GFA, representing a significant year-on-year growth as well. Including GFA of associates and GFA of consultant projects, the GFA under management and contracted GFA of A-Living exceeded 500 million sq.m. and 600 million sq.m. respectively.

Proposed Spin-off and Listing of A-City

On 24 June 2020, the Group announced the proposed spin-off and separate listing of the shares of A-City Group Limited ("A-City") on the main board of The Stock Exchange of Hong Kong Limited (the "Stock Exchange"). Upon completion of the proposed spin-off and listing, the Company is expected to have an interest of not less than 50% in A-City and A-City will remain as a subsidiary of the Company. After years of development, A-City has become a leading ecological habitat service provider in China, mainly engaged in the provision of ecological landscaping services and intelligent home and decoration services. As at 31 December 2019, A-City had presence in 119 cities in 27 provinces across China.

Continuous Growth in Revenue from Environmental Protection Business

The Group continues to consolidate its nationwide presence of its hazardous waste treatment projects, while making active efforts to drive the development of its landfill, water treatment and domestic waste-to-energy projects. As at 30 June 2020, the environmental protection business had 45 projects, including 33 hazardous waste treatment projects,

  • domestic waste-to-energy projects, 3 integrated industrial park projects and 4 water treatment projects. During the Review Period, revenue generated by the environmental protection business amounted to RMB799 million, representing a year-on-year increase of 68.5%. The environmental protection business generated continuously growth in the income for the Group.

8 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Chairman's Statement (continued)

Value of Saleable Resources of Real Estate Construction Management Business Exceeding RMB100 Billion

As of 30 June 2020, the real estate construction management business had contracted an accumulated total of 28 agent construction projects. The value of saleable resources exceeded RMB100 billion. As one of the Group's asset- light businesses, the real estate construction management business had preliminarily established nationwide presence, including major city clusters such as Greater Bay Area, the Yangtze River Delta, Chengdu-Chongqing, Central and Western China, and Beijing-Tianjin-Hebei. The business has completed a number of landmark projects in 24 cities in 12 provinces and municipalities including Chongqing, Guangdong, Hebei, Jiangsu and Sichuan, etc.. With industry-leading competitiveness, the real estate construction management business has created a new area of profit growth for the Group.

Establishment of Urban Renewal Group

The Group has been developing its urban renewal business since 2017 and expanding related developments such as old village redevelopment, old factory redevelopment, urban redevelopment and shanty town redevelopment. During the Review Period, the Group formally established the Urban Renewal Group. Adhering to its positioning as an "integrated urban renewal operator", the Urban Renewal Group strived to achieve a harmonious development of the city, where residents can enjoy life, and all parties have a sustainable and mutually beneficial future. As at 30 June 2020, the Urban Renewal Group has signed 13 cooperation agreements, with businesses covering 6 provinces and municipalities across the country, including the Greater Bay Area and Northern China and Central China. As at 30 June 2020, the Urban Renewal Group has secured planned GFA of over 7 million sq.m., with a locked-in saleable resources of nearly RMB240 billion.

Sound Financial Strategy and Diversified Financing Channels

The Group makes efforts to accelerate its sales turnover, strengthen capital and budget management, optimise cost and expense control, and optimise its debt structure through a number of financing channels. During the Review Period, the Group announced the issuance of USD500 million 5.75% senior notes due 2025 and was granted a facility agreement comprising an initial amount of HKD3,242,000,000 (with a greenshoe option of USD600 million or its HKD equivalent) with a term of 36 months. As at 30 June 2020, the Group's total cash and bank deposits amounted to RMB46,407 million.

Performing Good Corporate Governance

The Group upholds the concept of "mutual communication for a win-win situation". Subject to the requirements of the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules") and relevant laws, the Group maintains effective mutual communications from time to time and builds good relationships with commercial and investment banks, rating agencies, investors and analysts, thereby improving its corporate transparency on an on-going basis.

In the meantime, the Group makes active efforts to fulfill its corporate social responsibilities. The Group builds and operates every community according to its branding philosophy of "Empathy". In delivering these promises, great importance is placed on supplier management, with a view to ensuring the provision of the high-quality product and service quality. The Group is also playing its part in environment protection and cares about the well-being of staff. Specific good corporate citizenship efforts also include promoting sustainable development in communities through supporting and participating in charity and community activities across areas such as environmental protection, medical care, education, culture and sports.

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

9

Chairman's Statement (continued)

Prospects and Strategy

In the second half of 2020, COVID-19 is still rampaging in Europe, the United States and a number of regions in Asia. The ability to prevent and control the pandemic varies from country to country. The pandemic has been gradually under control in China since the second quarter, and all sectors have resumed operation. The economy of China has been bottoming out and beating expectation. It is estimated that the economic growth of China will continue to recover in the second half of the year.

The pandemic has caused an impact on all industries to a certain extent. The sales of the real estate industry has also been affected by the adverse psychological impact of the pandemic on the public. As a result, the pre-sale value of the Group for the first quarter year-on-year dropped by nearly 40%. However, given the Group's active implementation of diversified online and offline sales strategies, coupled with the gradually unleashed purchasing power in each region, the Group's pre-sale for the second quarter year-on-year rose by 19%, successfully reversing the downward trend. To sum up the first half of 2020, the accumulated pre-sale value of the Group was RMB55.1 billion, with the year-on-year decrease narrowed to 5.3%, better than market expectation. In light of this, the Group will increase its sales efforts in the second half and is confident in achieving the full year pre-sale target of RMB120 billion.

The Group will keep monitoring the development of COVID-19 and assessing the impact of the pandemic on the Group's finance and operation. The Group will adjust its marketing plans and development strategies in a timely manner, with an aim to ensure the effective implementation of the business model of "focusing on property development, supported by a diversified range of businesses".

The Group remains confident about the future development of its business segments, and will continue to deliver steady growth by enhancing internal management capabilities, optimising operational management model, improving training system, reinforcing brand image and continuously upgrading product and service quality. While further enhancing market position, the Group will also strive to develop Agile into a century-long enterprise.

Acknowledgement

On behalf of the Board, I would like to extend our heartfelt gratitude to our shareholders, customers and stakeholders for their unwavering support; and also to our staff members for their unstinting hard work in sustaining the Group's healthy growth.

CHEN Zhuo Lin

Chairman and President

Hong Kong, 21 August 2020

10 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Management Discussion and Analysis

Overall performance

During the Review Period, the Group's revenue was RMB33,527 million, representing an increase of 23.7% when compared with RMB27,114 million in the corresponding period of 2019. During the Review Period, the Group's profit for the period and core net profit for the period (excluding fair value gains on investment properties, net exchange differences, fair value gains on derivative financial instruments, fair value gains on financial assets at fair value through profit or loss and the related tax effect) were RMB6,339 million and RMB6,518 million, representing an increase of 7.6% and 35.6% when compared with RMB5,894 million and RMB4,807 million in the corresponding period of 2019 respectively.

During the Review Period, the profit attributable to shareholders of the Company and the core net profit attributable to shareholders of the Company were RMB5,127 million and RMB5,306 million, representing an increase of 1.0% and 32.9% when compared with RMB5,077 million and RMB3,992 million in the corresponding period of 2019 respectively. Basic earnings per share was RMB1.321 (corresponding period of 2019: RMB1.308).

Land bank

The Group continued to adopt proactive yet prudent land replenishment strategy in response to the market conditions. As at 30 June 2020, the Group had a land bank with a total planned GFA of 53.03 million sq.m. in 81 cities located in Southern China Region, Eastern China Region, Western China Region, Central China Region, Hainan and Yunnan Region, Northeast China Region, Northern China Region, Hong Kong and Overseas. The average land cost was RMB3,521 per sq.m., which was competitive.

During the Review Period, the Group was dedicated to expanding its nationwide presence through strategically acquiring

20 new land parcels by means of tender, auction, listing-for-sale, land application and equity acquisition, in which, Qidong, Taixing, Zhaoqing were the Group's newly explored markets. The total planned GFA of the newly acquired projects was 3.75 million sq.m., of which the Group's total attributable planned GFA was 3.47 million sq.m.. The consideration payable was RMB10.4 billion.

The following table sets forth the details of the newly acquired land parcels:

Attributable

Total Planned

Interest

GFA

Land Parcel Name

City

(%)

(sq.m.)

Southern China Region

Site in New District

Zhaoqing

100

460,687

Site in Huadu District

Guangzhou

100

97,814

Site in Conghua District

Guangzhou

100

86,848

Site in Agile Golden Bay

Beihai

60

300,058

Eastern China Region

Site in Hongwei Road

Nantong

30

95,566

Site in Huimin Town

Jiaxing

100

68,559

Site in Wuzhen Main Road

Jiaxing

50

70,738

Site in Jinqiao Road

Qidong

100

124,343

Site in Cangshan District

Fuzhou

100

42,015

Site in Wujin District

Changzhou

49

137,126

Site in Xinbei District

Changzhou

100

107,767

Industrial Site

Changzhou

100

214,110

Industrial Site

Taixing

100

124,588

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

11

Management Discussion and Analysis (continued)

The following table sets forth the details of the newly acquired land parcels: (continued)

Attributable

Total Planned

Interest

GFA

Land Parcel Name

City

(%)

(sq.m.)

Western China Region

Site in Chenghua District

Chengdu

30

244,000

Site in International Resort District

Chengdu

51

237,625

Site in Xixian New District

Xi'an

40

256,174

Central China Region

Site in Jian'an District

Xuchang

100

481,319

Northern China Region

Site in Agile Baodi Jinqiao International Town

Tianjin

100

496,212

Hainan Region

Site in Main District

Haikou

100

92,359

Overseas

Site in Project 88

San Francisco

50

10,674

Property development and sales

During the Review Period, the revenue from recognised sales of property development of the Group was RMB29,310 million, representing an increase of 18.7% when compared with RMB24,685 million in the corresponding period of 2019. The increase was mainly attributable to the increased in total recognised GFA sold and recognised average selling price. The total recognised GFA sold was 1.94 million sq.m., representing an increase of 0.6% when compared with the corresponding period of 2019. The recognised average selling price increased by 18.0% to RMB15,144 per sq.m. in the first half of 2020 from RMB12,836 per sq.m. in the first half of 2019.

Property management

During the Review Period, revenue from property management of the Group was RMB3,177 million, representing an increase of 111.1% when compared with RMB1,505 million in the corresponding period of 2019. The increase was mainly due to the recently acquired 60% equity interest in CMIG PM with its revenue consolidated into the Group's revenue. Operating profit from property management business was RMB719 million, representing an increase of 21.5% when compared with RMB592 million in the corresponding period of 2019. As at 30 June 2020, the total GFA under management increased from approximately 211 million sq.m. as at 30 June 2019 to approximately 353 million sq.m..

Hotel operations

During the Review Period, revenue from hotel operations of the Group was RMB153 million, representing a decrease of 56.6% when compared with RMB353 million in the corresponding period of 2019. The decrease was mainly due to the impact of the COVID-19, which resulted in decrease in the income from hotel operation. The revenue from hotel operation was primarily attributable to the revenue generated from Shanghai Marriott Hotel City Centre, Raffles Hainan, Sheraton Bailuhu Resort Huizhou and Howard Johnson Agile Plaza Chengdu.

12 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Management Discussion and Analysis (continued)

Environmental protection

During the Review Period, revenue from environmental protection of the Group was RMB799 million, representing an increase of 68.5% when compared with RMB474 million in the corresponding period of 2019. The growth was mainly attributable to the increased number of projects put into production during the period, resulting in an increase in the output and revenue.

Property investment

During the Review Period, revenue from property investment of the Group was RMB88 million, representing a decrease of 9.5% when compared with RMB98 million in the corresponding period of 2019. The decrease was mainly due to the impact of COVID-19, which resulted in decrease in the unit rental rate and occupancy rate for the period.

Cost of sales

During the Review Period, cost of sales of the Group was RMB22,007 million, representing an increase of 16.5% when compared with RMB18,894 million in the corresponding period of 2019. The increase was mainly due to increase of land cost and construction cost. Meanwhile, the total recognised GFA sold increase by 0.6% to 1.94 million sq.m. when compared with the corresponding period of 2019, which in turn led to the increase in the cost of property sales.

Gross profit

During the Review Period, gross profit of the Group was RMB11,520 million, representing an increase of 40.2% when compared with RMB8,220 million in the corresponding period of 2019. During the Review Period, gross profit margin of the Group was 34.4%, representing an increase of 4.1 percentage points when compared with 30.3% in the corresponding period of 2019. The increase in gross profit margin was mainly attributable to the increased weightings by projects with higher profitability, in particular, an increase in the proportion of projects with lower unit land cost which had a relatively high gross profit margin.

Other gains, net

During the Review period, the other gains, net of the Group was RMB2,832 million representing a decrease of 40.0% when compared with RMB4,722 million in the corresponding period of 2019, which was mainly due to gains from the disposal of subsidiaries decreased by 39.4% from RMB2,989 million to RMB1,812 million, fair value gains on financial assets at fair value through profit or loss decreased by 93.9% from RMB883 million to RMB54 million, and gains on disposal of financial assets at FVPL decreased by 89.9% from RMB247 million to RMB25 million.

Other income

During the Review Period, other income of the Group was RMB778 million, representing an increase of 34.7% when compared with RMB577 million in the corresponding period of 2019, which was mainly attributable to the increase of interest income and government grants.

Selling and marketing costs

During the Review Period, selling and marketing costs of the Group was RMB952 million, which were comparable to RMB959 million in the corresponding period of 2019. As a percentage of revenue, the selling and marketing costs decreased to 2.8% (3.5% in the corresponding period of 2019), which was mainly attributable to the Group's effective control of selling and marketing costs and the change of selling and marketing strategy.

Administrative expenses

During the Review Period, administrative expenses of the Group was RMB1,714 million, representing an increase of 23.2% when compared with RMB1,390 million in the corresponding period of 2019. The increase was mainly due to the increase of research and development expenses by 317.8% from RMB62 million to RMB260 million and the increase of employees resulting from business expansion of the Group.

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

13

Management Discussion and Analysis (continued)

Other expenses

During the Review Period, other expenses of the Group was RMB128 million, representing a decrease of 4.8% when compared with RMB135 million in the corresponding period of 2019, which was mainly attributable to the charitable donations of the Group decreased by 12.7% from RMB55 million in the corresponding period of 2019 to RMB48 million.

Finance costs, net

The Group's finance costs mainly consists of interest expenses on bank borrowings, syndicated loans, other borrowings, senior notes, PRC corporate bonds, Commercial Mortgage Backed Securities ("CMBS") and Assets-Backed Securities ("ABS") less capitalised interests, gains recorded or losses incurred by foreign currency denominated borrowings less exchange losses capitalised and changes in fair value of derivative financial instruments. Interest on borrowings relating to project development is capitalised to the extent it is directly attributable to a particular project and used to finance the development of that project.

During the Review Period, finance costs, net, of the Group was RMB1,342 million, representing an increase of 45.0% when compared with RMB926 million in the corresponding period of 2019, which was mainly attributable to the increase in exchange losses from borrowings arising from the depreciation of Renminbi against United States dollars and Hong Kong dollars, leading to the exchange losses of RMB750 million on translation of the Group's borrowings denominated in foreign currencies.

Share of post-tax profits of investments accounted for using the equity method

During the Review Period, the share of post-tax profits of investments accounted for using the equity method was RMB491 million, representing an increase of 226.8% when compared with RMB150 million in the corresponding period of 2019. The increase was mainly attributable to the increase of share of post-tax profits of joint ventures and share of post-tax profit of associates by RMB257 million and RMB84 million respectively.

Profit attributable to shareholders

During the Review Period, profit attributable to shareholders of the Company was RMB5,127 million, representing an increase of 1.0% when compared with RMB5,077 million in the corresponding period of 2019. The core net profit attributable to shareholders of the Company were RMB5,306 million representing an increase of 32.9% when compared with RMB3,992 million in the corresponding period of 2019.

Liquidity, financial and capital resources

Cash position and fund available

As at 30 June 2020, the total cash and bank balances of the Group were RMB46,407 million (31 December 2019: RMB42,555 million), comprising cash and cash equivalents of RMB38,362 million (31 December 2019: RMB33,551 million) and restricted cash of RMB8,045 million (31 December 2019: RMB9,004 million).

Some of the Group's subsidiaries are required to place a certain amount of pre-sale proceeds in designated bank accounts as guarantee deposits for construction of the relevant properties.

As at 30 June 2020, the Group's undrawn borrowing facilities were RMB7,633 million (31 December 2019: RMB6,404 million).

14 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Management Discussion and Analysis (continued)

Borrowings

As at 30 June 2020, the Group's total borrowings amounted to RMB98,939 million, of which bank borrowings and other borrowings, senior notes, and PRC corporate bonds, CMBS and ABS amounted to RMB73,854 million, RMB11,985 million and RMB13,100 million respectively.

As at

As at

30 June

31 December

Repayment schedule

2020

2019

(RMB million)

(RMB million)

Bank borrowings and other borrowings

Within 1 year

27,453

31,180

Over 1 year and within 2 years

25,486

16,728

Over 2 years and within 5 years

16,712

16,272

Over 5 years

4,203

3,682

Subtotal

73,854

67,862

Senior notes

Within 1 year

2,825

6,243

Over 1 year and within 2 years

7,755

4,163

Over 2 years and within 5 years

1,405

4,846

Subtotal

11,985

15,252

PRC corporate bonds, CMBS and ABS

Within 1 year

10,025

4,874

Over 1 year and within 2 years

3,075

8,682

Subtotal

13,100

13,556

Total

98,939

96,670

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

15

Management Discussion and Analysis (continued)

As at 30 June 2020, the Group's bank borrowings (including syndicated loans) of RMB42,565 million (31 December 2019: RMB40,348 million) and other borrowings of RMB11,036 million (31 December 2019: RMB13,582 million) were secured by its bank deposits, land use rights, self-used properties, trade receivables, completed properties held for sale, properties under development, investment properties, the shares of certain subsidiaries and equity interest of a joint venture. The senior notes were jointly guaranteed by certain subsidiaries of the Group and were secured by the pledges of their shares. The net assets of these subsidiaries were RMB1,946 million as at 30 June 2020 (31 December 2019: RMB4,394 million).

The ABS and CMBS of RMB443 million (31 December 2019: RMB904 million) and RMB4,089 million (31 December

2019: RMB4,084 million) were secured by the group's trade receivables and land use rights, self-used properties and investment properties.

The gearing ratio is the ratio of net borrowings (total borrowings less total cash and cash equivalents and restricted cash) to total equity. As at 30 June 2020, the gearing ratio was 73.3% (31 December 2019: 82.8%).

Currency risk

The Group conducts its business primarily in Renminbi. Certain bank deposits and bank loans were denominated in Hong Kong dollars, United States dollars, Macao Pataca and Malaysian Ringgit, and the Company's senior notes was denominated in United States dollars. Since early 2016, the Group has adopted a hedging policy and entered into capped forward contracts to mitigate certain of its foreign currency exposure in United States dollars and Hong Kong dollars denominated indebtedness and achieve better management over foreign exchange risk. The objective of the arrangement is to minimise the volatility of the RMB cost of highly probable forecast repayments of debts. Other than those disclosed, the Group does not have any material exposures to foreign exchange fluctuations.

Cost of borrowings

During the Review Period, the total cost of borrowings of the Group was RMB3,600 million, representing an increase of 8.5% when compared with RMB3,319 million in corresponding period of 2019. The increase was mainly attributable to higher average balance of borrowings during the Review Period. Regardless of exchange differences arising from foreign currencies borrowings, the Group's effective borrowing rate for the period was 6.78% (In the corresponding period of 2019: 7.06%).

16 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Management Discussion and Analysis (continued)

Financial guarantee

The Group has cooperated with certain financial institutions to arrange mortgage loan facility for its purchasers of property and provided guarantees to secure obligations of such purchasers for repayments. As at 30 June 2020, the outstanding guarantees amounted to RMB51,938 million (31 December 2019: RMB38,294 million). Such guarantees will be discharged upon earlier of (i) issuance of the real estate ownership certificate which will generally be available within one year after the purchasers taking possession of the relevant property; and (ii) the satisfaction of relevant mortgage loans by the purchasers.

Pursuant to the terms of the guarantees, upon default in mortgage payments by these purchasers, the Group is responsible for repaying the outstanding mortgage principals together with any accrued interests and penalties owed by the defaulted purchasers to the banks, and the Group is entitled to take over the legal title and possession of the related properties. The Group's guarantee starts from the dates the mortgagees grant the mortgage loans. No provision has been made for the guarantees as the management is of the view that the net realisable value of the related properties can cover the repayment of the outstanding mortgage principals together with the accrued interests and penalties in case of default in payments.

Several subsidiaries of the Group and associate counter parties have provided certain guarantees in proportion of their shareholding in certain associate in respect of loan facilities amounting to RMB2,689 million (31 December 2019: RMB2,844 million). The Group's share of the guarantees amounted to RMB1,045 million (31 December 2019: RMB1,096 million).

Several subsidiaries of the Group and joint venture parties have provided certain guarantees in proportion to their shareholdings in certain joint ventures in respect of loan facilities amounting to RMB12,179 million (31 December 2019: RMB12,423 million). The Group's share of the guarantees amounted to RMB5,297 million (31 December 2019: RMB5,832 million).

As at 30 June 2020, the Company has provided certain guarantees to certain independent third parties in respect of loan facilities amounting to RMB1,496 million (31 December 2019: RMB1,487 million).

Commitments

As at 30 June 2020, the commitments of the Group in connection with the property development activities were RMB27,450 million (31 December 2019: RMB16,406 million). The Group has also committed to pay outstanding land premium resulting from land acquisitions in the amount of RMB11,763 million (31 December 2019: RMB10,020 million). Additionally, the Group's capital commitments in respect of purchases of property, plant, equipment amounted to approximately RMB1,775 million (31 December 2019: RMB813 million).

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

17

Management Discussion and Analysis (continued)

Significant Investments Held, Material Acquisitions and Disposals of Subsidiaries, Associates and Joint Ventures, and Future Plans for Material Investments or Capital Assets

On 24 June 2020, A-City submitted a listing application form (Form A1) to the Stock Exchange to apply for the listing of, and permission to deal in, the A-City shares (ordinary shares of HK$0.01 each) on the main board of the Stock Exchange. It is intended that A-City will conduct an offering of its new shares in connection with the Listing. It is intended that qualifying shareholders will be provided with an assured entitlement to the A-City Shares under the share offer of the proposed spin-off, subject to certain conditions. Details of such assured entitlement have not yet been finalised and the Company will make further announcement(s) in this regard as and when appropriate. Upon completion of the proposed spin-off and listing, the Company is expected to have an interest of not less than 50% in A-City and A-City will remain as a subsidiary of the Company. For details, please refer to announcement of the Company dated 24 June 2020.

Save as disclosed in this announcement, there were no other significant investments held, no material acquisitions or disposals of subsidiaries, associates and joint ventures during the period, nor was there any plan authorised by the Board for other material investments or additions of capital assets at the date of this announcement.

Events after the Balance Sheet Date

  1. The Company announced an issuance of senior notes and entered into the purchase agreement with its purchasers in June 2020. The senior notes would be issued at 5.75% due 2025 with an aggregate nominal value of US$500,000,000 (equivalent to approximately RMB3,531,900,000) at face value. The Company has successfully issued and received net proceeds, deducting the issuance costs, of approximately US$497,000,000 (equivalent to approximately RMB3,511,870,000) on 3 July 2020.
  2. On 10 July 2020, a subsidiary of the Company established in the PRC issued 6.2% corporate bonds with an aggregate amount of RMB1,500,000,000. The net proceeds, after deducting issuance costs, amounted to RMB1,495,500,000. The bonds will mature on 13 July 2022.

Save as disclosed above, the Group did not have any other material event after the Balance Sheet Date.

Employees and remuneration policy

As at 30 June 2020, the Group had a total of 59,840 employees, among which 408 were senior management and 1,857 were middle management. By geographical locations, there were 59,680 employees in mainland China, 60 employees in Hong Kong and 100 employees in overseas. For the six months ended 30 June 2020, the total remuneration costs, including directors' remuneration, were RMB3,128 million (in the corresponding period of 2019: RMB2,159 million).

The Group remunerates its employees is reference to the market levels, individual performance and contributions. Bonuses are also distributed based on the performance of employees. The Group also provides a comprehensive benefit package and career development opportunities, including retirement schemes, medical benefits, and both internal and external training appropriate to the employees' needs.

18 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Management Discussion and Analysis (continued)

The impact of the outbreak of COVID-19

In the second half of 2020, COVID-19 is still rampaging in various countries, leading to a major challenge for the global economy. In contrast, the pandemic has gradually come under control in China under the effective control of the government, which enabled work and production to resume operation in all sectors. The Group fully supports the prevention and control on the pandemic and makes its best endeavour to cut off the transmission of the virus, as well as comprehensively evaluates the short-term impact on its sales and construction in various urban areas.

The pandemic has caused varying degrees of impact to various industries, and the sales of the property industry have also been affected by the short-term psychological impact of the public on the pandemic. However, a number of local governments in China have introduced relaxation policies to support the local property market, in an effort to stabilize the future development of the Chinese property market. The Group will closely monitor the development of COVID-19, and continue to assess the impact of the pandemic on the financial and operation of the Group.

Outlook

The Group's property development business will capitalise on market opportunities to develop premium real estate projects, thereby further strengthening the Group's solid market position. A-Living will continue to expand its business scope and GFA under management. The environmental protection business will ensure that its merger and acquisition projects and those under development contribute to the Group's income. The ecological landscaping services and intelligent home and decoration services businesses will aim to become a benchmark for the industry by integrating existing resources and enhancing product quality. The real estate construction management business will enhance its internal management capabilities and make all efforts to develop quality projects. The commercial business will dedicate itself to improving the rate of return for all of its projects.

The Group is confident in the future development of its business segments. The Group firmly believes that by enhancing its internal management capabilities, optimising its operational management model, improving its training system, reinforcing its brand image, as well as continuously upgrading product and service quality, the Group will be able to deliver steady growth, further strengthen its market position, and develop Agile into a Century-long Enterprise.

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

19

Interim Consolidated Balance Sheet

(All amounts in RMB thousands unless otherwise stated)

As at

As at

30 June

31 December

2020

2019

Note

(Unaudited)

(Audited)

ASSETS

Non-current assets

Property, plant and equipment

6

12,826,481

11,701,956

Investment properties

6

8,758,449

8,495,950

Right-of-use assets

6

3,035,280

3,077,209

Goodwill

7

4,768,190

3,897,055

Other intangible assets

7

2,248,889

1,578,192

Investments accounted for using the equity method

8

15,643,349

14,711,189

Prepayments for acquisition of equity interests

-

468,000

Prepayments for acquisition of land use rights

9

15,000

-

Properties under development

10

24,940,532

31,742,993

Other receivables

12

8,061,018

5,182,026

Financial assets at fair value through other comprehensive income

327,289

262,036

Deferred income tax assets

1,122,912

1,350,770

81,747,389

82,467,376

Current assets

Properties under development

10

93,765,379

79,622,115

Completed properties held for sale

11

14,700,594

13,447,730

Inventories

352,589

343,029

Prepayments for acquisition of land use rights

9

8,803,307

10,669,360

Contract assets

2,654,043

1,379,556

Trade and other receivables

12

44,154,531

35,360,168

Prepaid income taxes

6,044,836

6,077,471

Financial assets at fair value through profit or loss

13

3,179,522

1,008,031

Assets held for sale

-

302,108

Restricted cash

14

8,045,728

9,003,578

Cash and cash equivalents

15

38,361,769

33,551,303

220,062,298

190,764,449

Total assets

301,809,687

273,231,825

20 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Interim Consolidated Balance Sheet (continued)

(All amounts in RMB thousands unless otherwise stated)

As at

As at

30 June

31 December

2020

2019

Note

(Unaudited)

(Audited)

EQUITY

Capital and reserves attributable to the shareholders of the

Company

Share capital and premium

16

3,421,883

3,421,883

Shares held for Share Award Scheme

17

(156,588)

(156,588)

Other reserves

18

2,917,632

2,931,267

Retained earnings

41,815,841

38,277,061

44,473,623

47,998,768

Perpetual Capital Securities

19

13,633,418

13,566,867

Non-controlling interests

10,011,099

7,295,986

Total equity

71,643,285

65,336,476

LIABILITIES

Non-current liabilities

Borrowings

20

58,635,886

54,372,620

Trade and other payables

21

2,887,542

2,201,976

Financial liabilities at fair value through profit or loss

22

86,348

83,092

Lease liabilities

343,382

390,326

Deferred income tax liabilities

3,838,847

3,179,780

65,792,005

60,227,794

Current liabilities

Borrowings

20

40,302,885

42,297,082

Trade and other payables

21

68,685,404

53,917,720

Financial liabilities at fair value through profit or loss

22

13,981

53,684

Contract liabilities

23

38,466,785

33,653,950

Lease liabilities

185,266

182,411

Current income tax liabilities

16,720,076

17,562,708

164,374,397

147,667,555

Total liabilities

230,166,402

207,895,349

Total equity and liabilities

301,809,687

273,231,825

The notes on pages 28 to 76 form an integral part of this interim financial information.

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

21

Interim Consolidated Income Statement

(All amounts in RMB thousands unless otherwise stated)

Six months ended 30 June

2020

2019

Note

(Unaudited)

(Unaudited)

Operation

Revenue

5

33,527,374

27,114,425

Cost of sales

27

(22,006,936)

(18,894,381)

Gross profit

11,520,438

8,220,044

Selling and marketing costs

27

(952,070)

(958,789)

Administrative expenses

27

(1,713,554)

(1,390,459)

Net impairment losses on financial and contract assets

(98,127)

(58,835)

Other gains, net

24

2,831,959

4,721,982

Other income

25

777,584

577,400

Other expenses

26

(128,308)

(134,737)

Operating profit

12,237,922

10,976,606

Finance costs, net

28

(1,342,235)

(925,642)

Share of post-tax profits of investments accounted for

using the equity method

8

491,115

150,288

Profit before income tax

11,386,802

10,201,252

Income tax expenses

29

(5,047,603)

(4,307,561)

Profit for the period

6,339,199

5,893,691

Profit attributable to:

Shareholders of the Company

5,127,482

5,076,668

Holders of Perpetual Capital Securities

19

549,386

417,296

Non-controlling interests

662,331

399,727

6,339,199

5,893,691

Earnings per share from continuing operations attributable to

the shareholders of the Company for the period

(expressed in Renminbi per share)

- Basic

30

1.321

1.308

- Diluted

30

1.321

1.308

The notes on pages 28 to 76 form an integral part of this interim financial information.

22 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Interim Consolidated Statement of Comprehensive Income

(All amounts in RMB thousands unless otherwise stated)

Six months ended 30 June

2020

2019

(Unaudited)

(Unaudited)

Profit for the period

6,339,199

5,893,691

Other comprehensive income for the period

Items that will not be reclassified subsequently to profit or loss

- Changes in the fair value of equity investments at fair value through

other comprehensive income, net of tax

(14,285)

(25,588)

Items that may be reclassified to profit or loss

- Currency translation differences

(5,678)

1,820

Other comprehensive income for the period, net of tax

(19,963)

(23,768)

Total comprehensive income for the period

6,319,236

5,869,923

Total comprehensive income attributable to:

Shareholders of the Company

5,116,925

5,052,237

Holders of the Perpetual Capital Securities

549,386

417,296

Non-controlling interests

652,925

400,390

6,319,236

5,869,923

The notes on pages 28 to 76 form an integral part of this interim financial information.

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

23

Interim Consolidated Statement of Changes in Equity

(All amounts in RMB thousands unless otherwise stated)

Unaudited

Attributable to the owners of the Company

Shares held

Share

for Share

Perpetual

Non-

capital and

Award

Other

Retained

Capital

controlling

Total

premium

Scheme

reserves

earnings

Total

Securities

interests

equity

(note 16)

(note 17)

(note 18)

(note 19)

Six months ended 30 June 2020

Balance at 1 January 2020

3,421,883

(156,588)

2,931,267

38,277,061

44,473,623

13,566,867

7,295,986

65,336,476

Comprehensive income

Profit for the period

-

-

-

5,127,482

5,127,482

549,386

662,331

6,339,199

Other comprehensive income

- Currency translation differences

-

-

3,728

-

3,728

-

(9,406)

(5,678)

  • Changes in the fair value of equity investments at fair value through other comprehensive income,

net of tax

-

-

(14,285)

-

(14,285)

-

-

(14,285)

Total comprehensive income for

the six months ended 30 June 2020

-

-

(10,557)

5,127,482

5,116,925

549,386

652,925

6,319,236

Transfer from statutory reserve and

enterprise expansion funds (note 18)

-

-

172,571

(172,571)

-

-

-

-

Distribution to holders of Perpetual

Capital Securities (note 19)

-

-

-

-

-

(482,835)

-

(482,835)

Non-controlling interests on

acquisition of subsidiaries (note 33)

-

-

-

-

-

-

1,840,173

1,840,173

Acquisition of additional interests in

subsidiaries

-

-

(177,239)

-

(177,239)

-

(52,761)

(230,000)

Dividends distribution to non-controlling

interests

-

-

-

-

-

-

(386,508)

(386,508)

Capital injection by non-controlling

interests

-

-

-

-

-

-

659,486

659,486

Other transaction with non-controlling

interests

-

-

1,590

-

1,590

-

1,798

3,388

Dividends (note 31)

-

-

-

(1,416,131)

(1,416,131)

-

-

(1,416,131)

Total transactions with owners,

recognised directly in equity for

the six months ended 30 June 2020

-

-

(3,078)

(1,588,702)

(1,591,780)

(482,835)

2,062,188

(12,427)

Balance at 30 June 2020

3,421,883

(156,588)

2,917,632

41,815,841

47,998,768

13,633,418

10,011,099

71,643,285

24 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Interim Consolidated Statement of Changes in Equity (continued)

(All amounts in RMB thousands unless otherwise stated)

Unaudited

Attributable to the owners of the Company

Shares held

Share

for Share

Perpetual

Non-

capital and

Award

Other

Retained

Capital

controlling

Total

premium

Scheme

reserves

earnings

Total

Securities

interests

equity

(note 16)

(note 17)

(note 18)

(note 19)

Six months ended 30 June 2019

Balance at 1 January 2019

3,421,883

(156,588)

2,604,982

35,368,931

41,239,208

8,334,875

5,406,850

54,980,933

Comprehensive income

Profit for the period

-

-

-

5,076,668

5,076,668

417,296

399,727

5,893,691

Other comprehensive income

- Currency translation differences

-

-

1,157

-

1,157

-

663

1,820

  • Changes in the fair value of equity investments at fair value through other comprehensive income,

net of tax

-

-

(25,588)

-

(25,588)

-

-

(25,588)

Total comprehensive income for the six

months ended 30 June 2019

-

-

(24,431)

5,076,668

5,052,237

417,296

400,390

5,869,923

Transfer from statutory reserve and

enterprise expansion funds (note 18)

-

-

415,542

(415,542)

-

-

-

-

Distribution to holders of Perpetual

Capital Securities (note 19)

-

-

-

-

-

(389,400)

-

(389,400)

Non-controlling interests on

acquisition of subsidiaries

-

-

-

-

-

-

453,245

453,245

Acquisition of additional interests in

subsidiaries

-

-

41,250

-

41,250

-

(140,050)

(98,800)

Issuance of Perpetual Capital

Securities (note 19)

-

-

-

-

-

4,784,676

-

4,784,676

Dividends distribution to non-controlling

interests

-

-

-

-

-

-

(304,396)

(304,396)

Capital injection by non-controlling

interests

-

-

-

-

-

-

393,648

393,648

Dividends

-

-

-

(1,666,231)

(1,666,231)

-

-

(1,666,231)

Put options granted during the

acquisition of subsidiaries

-

-

(62,179)

-

(62,179)

-

-

(62,179)

Total transactions with owners,

recognised directly in equity for

the six months ended 30 June 2019

-

-

394,613

(2,081,773)

(1,687,160)

4,395,276

402,447

3,110,563

Balance at 30 June 2019

3,421,883

(156,588)

2,975,164

38,363,826

44,604,285

13,147,447

6,209,687

63,961,419

The notes on page 28 to 76 form an integral part of this interim financial information.

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

25

Interim Consolidated Statement of Cash Flows

(All amounts in RMB thousands unless otherwise stated)

Six months ended 30 June

2020

2019

Note

(Unaudited)

(Unaudited)

Cash flows from operating activities

Cash generated from/(used in) operations

16,364,049

(2,758,041)

Interest paid

(3,210,858)

(2,801,119)

PRC income tax paid

(5,632,145)

(6,281,320)

Net cash generated from/(used in) operating activities

7,521,046

(11,840,480)

Cash flows from investing activities

Cash received/(paid) for acquisition of subsidiaries through

business combination

33

311,629

(600,654)

Proceeds from/(payments made to) disposal of subsidiaries

32

301,921

(235,495)

Proceeds from disposal of investment properties and property,

plant and equipment

391,997

56,215

Payments of construction cost of investment properties

-

(52,430)

Purchases of property, plant and equipment and self-used land

use rights

(1,381,524)

(807,532)

Purchases of intangible assets

(87,683)

(9,541)

Repayment of cash advances from joint ventures and associates

4,027,913

7,130,853

Cash advances made to joint ventures, associates and other

related parties

(8,091,783)

(1,835,078)

Prepayment for acquisitions of equity interests

-

(270,347)

Investments in joint ventures and associates

(103,588)

(408,421)

Proceeds from settlement of derivative financial instruments

12,708

177,000

Purchase of wealth management products

(9,016,488)

(28,294,907)

Redemption of wealth management products

7,493,059

28,136,613

Payment for acquisition of other financial assets at fair value

through profit or loss

-

(1,237,366)

Proceeds from disposal of other financial assets at fair value

through profit or loss

10,914

3,055,138

Payment for acquisition of financial assets at fair value through

other comprehensive income

(61,568)

(175,130)

Proceeds from disposal of financial assets at fair value through

other comprehensive income

500

-

Proceeds from disposal of joint ventures and an associate

362,148

-

Interest and dividend income received

660,831

487,822

Net cash (used in)/generated from investing activities

(5,169,014)

5,116,740

26 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Interim Consolidated Statement of Cash Flows (continued)

(All amounts in RMB thousands unless otherwise stated)

Six months ended 30 June

2020

2019

Note

(Unaudited)

(Unaudited)

Cash flows from financing activities

Net proceeds from issuance of Perpetual Capital Securities

-

4,784,676

Net proceeds from borrowings

27,104,998

25,726,693

Repayments of borrowings

(28,215,624)

(21,939,803)

Repayments of cash advances made to related parties

(389,428)

(6,210,143)

Cash advances from related parties

4,307,606

2,708,388

Cash advance from non-controlling interests

4,547,867

3,188,633

Repayment of cash advance from non-controlling interests

(3,827,071)

(2,123,579)

Principal elements of lease payments

(116,037)

(180,031)

Decrease/(increase) in restricted deposits as guarantee

120,321

(46,996)

Acquisition of additional interests in subsidiaries from

non-controlling interests

(230,000)

-

Capital injection by non-controlling interests

659,486

393,648

Other transaction with non-controlling interests

3,388

-

Distribution to holders of Perpetual Capital Securities

(482,835)

(389,400)

Dividends paid to shareholders of the Company

(685,372)

(1,666,231)

Dividends paid to non-controlling interests

(315,538)

(103,512)

Net cash generated from financing activities

2,481,761

4,142,343

Net increase/(decrease) in cash and cash equivalents

4,833,793

(2,581,397)

Net cash and cash equivalents at 1 January

33,551,303

35,776,231

Exchange (losses)/gains on cash and cash equivalents

(23,327)

9,433

Cash and cash equivalents at 30 June

15

38,361,769

33,204,267

The notes on pages 28 to 76 form an integral part of this interim financial information.

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

27

Notes to the Interim Financial Information

(All amounts in RMB thousands unless otherwise stated)

  • General information

Agile Group Holdings Limited (the "Company") is a limited liability company incorporated in the Cayman Islands on 14 July 2005 and is principally engaged in investment holding. The address of its registered office is Cricket Square, Hutchins Drive, P. O. Box 2681, Grand Cayman KY1-1111, Cayman Islands. The Company and its subsidiaries (the "Group") are principally engaged in property development in the People's Republic of China (the "PRC").

The Company's shares have been listed on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") since 15 December 2005.

The condensed consolidated interim financial information was approved by the Board of Directors of the Company on 21 August 2020.

The outbreak of the 2019 Novel Coronavirus ("COVID-19") had brought unprecedented challenges and added uncertainties to the economy. COVID-19 may affect the financial performance and position of the industry of real estate including the construction and delivery of properties, rental revenue and occupancy rate of investment properties, allowance for expected credit losses on trade and other receivables, fair value of investment properties and so on. Since the outbreak of COVID-19, the Group has been keeping continuous attention on the situation of the COVID-19 and reacted actively to its impact on the financial position and operating results of the Group. As at the date that the condensed consolidated interim financial information is authorised for issuance, COVID-19 does not have any material adverse impact on the financial position and operating results of the Group.

  • Basis of preparation

This condensed consolidated interim financial information for the six months ended 30 June 2020 has been prepared in accordance with Hong Kong Accounting Standard 34 "Interim Financial Reporting". The condensed consolidated interim financial information should be read in conjunction with the annual consolidated financial statements for the year ended 31 December 2019 and any public announcement made by the Company during the six months ended 30 June 2020.

  • Accounting policies

The accounting policies adopted are consistent with those of the previous financial year and corresponding interim reporting period, except for the estimation of income tax (note 29) and the adoption of new and amended standards as set out below.

  1. New and amended standards adopted by the Group
    The Group has applied the following standards and amendments for the first time for the reporting period commencing 1 January 2020:
    • Definition of Material - amendments to HKAS 1 and HKAS 8
    • Definition of a Business - amendments to HKFRS 3
    • Revised Conceptual Framework for Financial Reporting
    • Interest Rate Benchmark Reform - amendments to HKFRS 9, HKAS 39 and HKFRS 7

The adoption of these new standards, amendments to standards and interpretations does not have significant impact to the results or financial position of the Group.

28 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

  • Accounting policies (Continued)
    1. New standards and amendments to existing standards have been issued but are not effective for the financial year beginning on 1 January 2020 and have not been early adopted by the Group

Effective for accounting periods beginning on or after

Amendments to HKFRS 16

Amendments to HKAS 1

Amendments to HKFRS 3

Amendments to HKAS 16

Amendments to HKAS 37

Annual improvements to HKFRS 1 Annual improvements to HKFRS 9 HKFRS 17

HKFRS 10 and HKAS 28 (Amendment)

Leases - COVID-19 related rent

1 June 2020

concessions

Presentation of financial statements -

1 January 2022

classification of liabilities

Business combinations

1 January 2022

Property, plant and equipment

1 January 2022

Provisions, contingent liabilities and

1 January 2022

contingent assets

First-time Adoption of HKFRS

1 January 2022

Financial instruments

1 January 2022

Insurance contract

1 January 2023

Sale or contribution of assets between

To be determined

an investor and its associate or joint

venture

The Group has already commenced an assessment of the impact of these new or revised standards, interpretation and amendments, certain of which are relevant to the Group's operations.

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

29

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

  • Fair value measurement of financial instruments
    1. Fair value hierarchy
      The hierarchy of financial assets or financial liabilities measured at fair value is as follows:

At 30 June 2020 (unaudited)

Level 1

Level 2

Level 3

Total

Financial assets

Financial assets at fair value through

profit or loss (FVPL)

- Hong Kong listed equity securities and

debt instruments

231,086

-

-

231,086

- Unlisted equity securities

-

-

326,084

326,084

- Wealth management products

-

-

2,205,934

2,205,934

- Derivative financial instruments

-

341,333

-

341,333

- Others

-

-

75,085

75,085

231,086

341,333

2,607,103

3,179,522

Financial assets at fair value through other

comprehensive income (FVOCI)

- Hong Kong listed equity securities

299,408

-

-

299,408

- Unlisted equity securities

-

-

27,881

27,881

299,408

-

27,881

327,289

Total financial assets

530,494

341,333

2,634,984

3,506,811

Financial liabilities

Financial liabilities at FVPL

- Derivative financial instruments

-

23,487

-

23,487

- Put options

-

-

76,842

76,842

Total financial liabilities

-

23,487

76,842

100,329

30 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

  • Fair value measurement of financial instruments (Continued)
    1. Fair value hierarchy (Continued)

At 31 December 2019 (audited)

Level 1

Level 2

Level 3

Total

Financial assets

Financial assets at FVPL

- Hong Kong listed equity securities and

debt instruments

181,691

-

-

181,691

- Unlisted equity securities

-

-

326,084

326,084

- Wealth management products

-

-

430,083

430,083

- Others

-

-

70,173

70,173

181,691

-

826,340

1,008,031

Financial assets at FVOCI

- Hong Kong listed equity securities

262,036

-

-

262,036

Total financial assets

443,727

-

826,340

1,270,067

Financial liabilities

Financial liabilities at FVPL

- Derivative financial instruments

-

66,340

-

66,340

- Put options

-

-

70,436

70,436

Total financial liabilities

-

66,340

70,436

136,776

The Group's policy is to recognise transfers into and transfers out of fair value hierarchy levels as at the end of the reporting period.

The Group did not measure any financial assets or financial liabilities at fair value on a non-recurring basis as at 30 June 2020.

Level 1: The fair value of financial instruments traded in active markets (such as publicly traded derivatives, and trading securities) is based on quoted (unadjusted) market prices at the end of the reporting period. The quoted marked price used for financial assets held by the Group is the current bid price. These instruments are included in level 1.

Level 2: The fair value of financial instruments that are not traded in an active market (for example, over-the- counter derivatives) is determined using valuation techniques. These valuation techniques maximise the use of observable market data where it is available and rely as little as possible on entity specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is the case for unlisted equity securities, wealth management products and put options.

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

31

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

  • Fair value measurement of financial instruments (Continued)
    1. Valuation techniques used to determine fair values
      Specific valuation techniques used to value financial instruments include:
      • The use of quoted market prices or dealer quotes for similar instruments.
      • The fair value of foreign currency forwards is determined using forward exchange rates at the balance sheet date.
      • The fair value of the remaining financial instruments is determined using discounted cash flow analysis.

All of the resulting fair value estimates are included in level 1 and 2 except for unlisted equity securities, wealth management products and others explained in (c) below.

  1. Fair value measurements using significant unobservable inputs (level 3)
    The following table presents the changes in level 3 instruments for the six months ended 30 June 2020:

Six months ended 30 June

2019

2020

(unaudited)

(unaudited)

Opening balance

826,340

479,721

Additions

9,016,488

28,361,989

Addition through business combinations

253,751

16,411

Redemption of wealth management products

(7,493,059)

(28,136,613)

Disposal of unlisted equity securities

(700)

-

Gains recognised in other gains, net

32,164

47,715

Closing balance

2,634,984

769,223

32 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

  • Fair value measurement of financial instruments (Continued)
    1. Fair value measurements using significant unobservable inputs (level 3) (Continued) Valuation processes
      The finance department of the Group includes a team that performs the valuations of level 3 instruments for financial reporting purposes. The team manages the valuation exercise of the investments on a case by case basis. At least once every year, the team would use valuation methodologies to determine the fair value of the Group's level 3 instruments. External valuation experts will be involved when necessary.
      The valuation of the level 3 instruments mainly included the unlisted equity securities, wealth management products and put options (note 13 and note 22) only. As the investments in unlisted companies are not traded in an active market, their fair value have been determined by discounted cash flows. The main level 3 inputs used by the Group in measuring the fair value of financial instruments are derived and evaluated as follows:
      • Discount rates: these are determined using a capital asset pricing model to calculate a pre-tax rate that reflects current market assessments of the time value of money and the risk specific to the asset.
      • Earnings growth factor for unlisted equity securities, wealth management products and others: these are estimated based on market information for similar types of companies and products.
      • Expected cash inflows: these are estimated based on the terms of the operating contract, the entity's knowledge of the business and how the current economic environment is likely to impact it.
    3. Fair values of other financial instruments
      The Group also has a number of financial instruments which are not measured at fair value in the balance sheet. For the majority of these instruments, the fair values are not materially different from their carrying amounts, since the interest receivable and payable is either close to current market rates or the instruments are short-term in nature.
  • Segment information

The executive directors of the Company, which are the chief operating decision-maker of the Group, review the Group's internal reporting in order to assess performance and allocate resources. Management has determined the operating segments based on reports reviewed by the executive directors of the Company that are used to make strategy decision.

The Group is organised into five business segments: property development, property management, hotel operations, property investment and environmental protection. As the executive directors of the Company consider most of the Group's consolidated revenue and results are attributable from the market in the PRC, most of the non-current assets are located in the PRC, and less than 10% of the Group's consolidated assets are located outside the PRC, geographical segment information is not considered necessary.

The executive directors of the Company assess the performance of the operating segments based on a measure of segment results, being profit before income tax before deducting finance costs.

The Group has a large number of customers, none of whom contributed 5% or more of the Group's revenue.

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

33

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

  • Segment information (Continued)

Segment results for the six months ended 30 June 2020 and 2019 are as follows:

Six months ended 30 June 2020 (unaudited)

Property

Property

Hotel

Property

Environmental

development

management

operations

investment

protection

Group

(note (a))

(note (b))

Gross segment sales

29,310,114

4,001,627

153,202

88,496

798,747

34,352,186

Inter-segment sales

-

(824,812)

-

-

-

(824,812)

Sales to external customers

29,310,114

3,176,815

153,202

88,496

798,747

33,527,374

Timing of revenue recognition

- At a point in time

26,259,603

18,397

-

-

271,830

26,549,830

- Over time

3,050,511

3,158,418

153,202

88,496

526,917

6,977,544

Fair value gains on investment

properties (note 6)

-

-

-

12,513

-

12,513

Operating profits/(losses)

11,326,517

718,735

(68,861)

69,693

191,838

12,237,922

Share of post-tax profits of

investments accounted for

using the equity method (note 8)

466,396

21,974

-

-

2,745

491,115

Segment result

11,792,913

740,709

(68,861)

69,693

194,583

12,729,037

Finance costs, net (note 28)

(1,342,235)

Profit before income tax

11,386,802

Income tax expenses (note 29)

(5,047,603)

Profit for the period

6,339,199

Depreciation

84,432

44,068

123,526

-

75,258

327,284

Amortisation of right-of-use assets

and intangible assets

87,196

59,440

25,319

-

34,282

206,237

Write-down of properties under

development, completed

properties held for sale and

property, plant and equipment

306,704

-

9,880

-

-

316,584

34 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

  • Segment information (Continued)

Six months ended 30 June 2019 (unaudited)

Property

Property

Hotel

Property

Environmental

development

management

operations

investment

protection

Group

(note (a))

(note (b))

Gross segment sales

24,685,054

2,241,228

352,862

97,810

474,078

27,851,032

Inter-segment sales

-

(736,607)

-

-

-

(736,607)

Sales to external customers

24,685,054

1,504,621

352,862

97,810

474,078

27,114,425

Timing of revenue recognition

- At a point in time

24,336,757

6,157

-

-

12,945

24,355,859

- Over time

348,297

1,498,464

352,862

97,810

461,133

2,758,566

Fair value gains on investment

properties (note 6)

-

-

-

1,870

-

1,870

Operating profits/(losses)

10,160,874

591,782

(70,941)

70,128

224,763

10,976,606

Share of post-tax profits of

investments accounted for using

the equity method (note 8)

139,225

5,816

-

-

5,247

150,288

Segment result

10,300,099

597,598

(70,941)

70,128

230,010

11,126,894

Finance costs, net (note 28)

(925,642)

Profit before income tax

10,201,252

Income tax expenses (note 29)

(4,307,561)

Profit for the period

5,893,691

Depreciation

81,834

8,244

151,363

-

18,798

260,239

Amortisation of right-of-use

assets and intangible assets

55,756

31,919

27,802

59

5,333

120,869

Write-down of completed

properties held for sale and

properties under development

523,728

-

-

-

-

523,728

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

35

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

  • Segment information (Continued)

Segment assets and liabilities and capital expenditure as at 30 June 2020 are as follows (unaudited):

Property

Property

Hotel

Property

Environmental

development

management

operations

investment

protection

Elimination

Group

(note (a))

(note (b))

Segment assets

245,617,518

12,711,067

11,991,854

8,758,449

17,637,563

(5,581,323)

291,135,128

Unallocated assets

10,674,559

Total assets

301,809,687

Segment assets included:

Investments accounted for using

the equity method (note 8)

14,618,081

802,573

-

-

222,695

-

15,643,349

Segment liabilities

94,479,863

4,432,434

4,531,163

12,750

12,693,492

(5,581,323)

110,568,379

Unallocated liabilities

119,598,023

Total liabilities

230,166,402

Capital expenditure

171,475

751,788

77,892

-

1,294,160

-

2,295,315

36 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

  • Segment information (Continued)

Segment assets and liabilities and capital expenditure as at 31 December 2019 are as follows (audited):

Property

Property

Hotel

Property

Environmental

development

management

operations

investment

protection

Elimination

Group

(note (a))

(note (b))

Segment assets

224,299,039

8,618,143

11,475,325

8,495,950

17,433,296

(5,788,236)

264,533,517

Unallocated assets

8,698,308

Total assets

273,231,825

Segment assets include:

Investments accounted for using

the equity method (note 8)

13,907,604

583,634

-

-

219,951

-

14,711,189

Segment liabilities

75,791,172

2,479,562

4,060,271

16,612

13,787,002

(5,788,236)

90,346,383

Unallocated liabilities

117,548,966

Total liabilities

207,895,349

Capital expenditure

1,007,291

718,523

368,150

52,430

4,218,372

-

6,364,766

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

37

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

  • Segment information (Continued)
    1. Property development segment mainly comprises the business units involved in development and sales of properties, provision of ecological landscaping services and intelligent home and decoration services.
    2. Property management segment mainly comprises the business units involved in property management business operated by A-Living Services Co., Ltd.
    3. There are no differences from the latest annual financial statements in the basis of segmentation or in the basis of measurement of segment profit or loss.
      Inter-segment transfers or transactions are entered into at terms and conditions agreed upon by respective parties.
      Eliminations comprise inter-segment trade and non-trade balances.
      Pricing policy for inter-segment transactions is determined by reference to market prices.
      Segment assets consist primarily of property, plant and equipment, right-of-use assets, intangible assets, properties under development, completed properties held for sale, investment properties, receivables, contract assets and cash balances. Unallocated assets comprises deferred income tax assets, prepaid income taxes, financial assets at fair value through profit or loss and financial assets at fair value through other comprehensive income. Segment liabilities comprise operating liabilities. Unallocated liabilities comprise taxation, borrowings and financial liabilities at fair value through profit or loss.
      Capital expenditure comprises additions to property, plant and equipment, right-of-use assets, investment properties and intangible assets.
    4. Assets recognised from incremental costs to obtain a contract
      During the six months ended 30 June 2020, there was no significant incremental costs to obtain a contract (six months ended 30 June 2019: nil).

38 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

  • Property, plant and equipment, investment properties and right-of-use assets

Property,

Plant and

Investment

Right-of-use

equipment

properties

assets

(note (b),

(note (a))

note (c))

(note (d))

Six months ended 30 June 2020 (unaudited)

Opening net book amount as at 31 December 2019

11,701,956

8,495,950

3,077,209

Additions

1,358,665

-

54,535

Transfer from completed properties held for sale

-

274,986

-

Acquisition of subsidiaries (note 33)

101,156

-

13,622

Disposals

(23,132)

-

-

Transfer

25,000

(25,000)

-

Fair value gains on investment properties

-

12,513

-

Depreciation (note 27)

(327,284)

-

-

Amortisation

- Capitalised in construction in progress

-

-

(2,903)

- Recognised as cost of sales and expenses (note 27)

-

-

(107,183)

Impairment loss

(9,880)

-

-

Closing net book amount as at 30 June 2020

12,826,481

8,758,449

3,035,280

Six months ended 30 June 2019 (unaudited)

Opening net book amount as at 31 December 2018

8,753,527

8,804,220

2,039,236

Adoption of HKFRS 16 Lease as at 1 January 2019

-

-

194,374

Additions

687,298

52,430

710,815

Acquisition of subsidiaries

599,311

-

107,903

Disposals

(10,211)

(57,770)

-

Transfer to properties under development

-

-

(22,010)

Transfer from investment properties

366,000

-

-

Transfer to property, plant and equipment

-

(366,000)

-

Fair value gains on investment properties

-

1,870

-

Depreciation (note 27)

(260,239)

-

-

Amortisation

- Capitalised in construction in progress

-

-

(2,716)

- Recognised as cost of sales and expenses (note 27)

-

-

(90,492)

Closing net book amount as at 30 June 2019

10,135,686

8,434,750

2,937,110

Notes:

  1. As at 30 June 2020, certain self-used properties of RMB3,771,048,000 (31 December 2019: RMB2,347,883,000) were pledged as collateral for the Group's borrowings (note 20(e)).
  2. During the six months ended 30 June 2020, certain retail shops with carrying value of RMB274,986,000 were transferred from the completed properties held for sale to investment properties.

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

39

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

  • Property, plant and equipment, investment properties and right-of-use assets (Continued)

Notes: (Continued)

  1. During the six months ended 30 June 2020, certain investment properties with carrying value of RMB25,000,000 (six months ended 30 June 2019: RMB366,000,000) were transferred to property, plant and equipment and occupied by the Group as self-used office.
  2. Right-of-useassets comprise i) cost of acquiring usage rights of certain lands, which are located in the PRC, held on leases of over 40 years, and mainly for hotel properties or self-used properties; and ii) the value of leased property, plant and equipment, held on leases of 1 to 30 years.
    As at 30 June 2020, land use rights of RMB1,459,578,000 (31 December 2019: RMB1,299,379,000) were pledged as collateral for the Group's borrowings (note 20(e)).

The Group measures its investment properties at fair value. At 30 June 2020, the investment properties were revalued by Vigers Appraisal & Consulting Limited, Colliers International Limited and WorldUnion Appraisal Co. Ltd, independent qualified valuers, who hold recognised relevant professional qualifications.

Valuation techniques

Fair value measurements used significant unobservable inputs (level 3).

Fair values of completed commercial properties are generally derived using the income capitalisation method. This valuation method is based on the capitalisation of the net income and reversionary income potential by adopting appropriate capitalisation rates, which are derived from analysis of sale transactions and the valuer's interpretation of prevailing investor requirements or expectations. The prevailing market rents adopted in the valuation have made reference to the valuer's view of recent lettings, within the subject properties and other comparable properties.

Fair values of car parks are evaluated by using direct comparison approach, which is adopted assuming sale of each of these properties in its existing state with the benefit of vacant possession. By making reference to sales transactions as available in the relevant market, comparable properties in close proximity have been selected and adjustments have been made to account for the difference in factors such as location and property size.

The main Level 3 inputs used by the Group are as follows:

  • Term yields, revisionary yields and market rents
    For completed investment properties, increase in term yield and revisionary yields may result in decrease of fair value. Increase in market rent may result in increase of fair value.
  • Market price
    For car parks, increase in market price may result in increase of fair value.

There were no changes in valuation techniques during the period.

Investment properties pledged as securities

As at 30 June 2020, investment properties of RMB5,310,586,000 (31 December 2019: RMB5,388,000,000) and certain rights of receiving rental income were pledged as collateral for the Group's bank borrowings (note 20(e)).

40 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

  • Goodwill and other intangible assets

Other

intangible

Goodwill

assets

Total

Six months ended 30 June 2020 (unaudited)

Opening net book amount as at 1 January 2020

3,897,055

1,578,192

5,475,247

Acquisition of subsidiaries (note 33)

871,135

679,654

1,550,789

Additions

-

87,683

87,683

Disposals

-

(489)

(489)

Amortisation (note 27)

-

(96,151)

(96,151)

Closing net book amount as at 30 June 2020

4,768,190

2,248,889

7,017,079

Six months ended 30 June 2019 (unaudited)

Opening net book amount as at 1 January 2019

1,841,613

258,990

2,100,603

Acquisition of subsidiaries

1,251,597

266,622

1,518,219

Additions

-

9,541

9,541

Amortisation (note 27)

-

(27,661)

(27,661)

Closing net book amount as at 30 June 2019

3,093,210

507,492

3,600,702

  • Investments accounted for using the equity method

The directors of the Group consider that none of the associates and the joint ventures as at 30 June 2020 was significant to the Group and thus the individual financial information of the associates and the joint ventures was not disclosed.

The movement of the interests in the associates and the joint ventures during the period is as follows:

Six months ended 30 June

2019

2020

(unaudited)

(unaudited)

Balance as at 1 January

14,711,189

10,088,353

Additions

1,339,260

408,421

Addition through business combination (note 33)

498,373

9,415

Transfer from subsidiaries (note 32 and (a))

1,564,268

2,706,776

Remeasurement gains on the investments in

joint ventures (note (b) and note 24)

825,314

579,449

Transfer to subsidiaries (note (b) and note 33)

(2,887,440)

(1,834,305)

Share of post-tax profits

491,115

150,288

Disposal (note (c))

(894,825)

-

Dividends received

(3,905)

(3,445)

Balance as at 30 June

15,643,349

12,104,952

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

41

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

  • Investments accounted for using the equity method (Continued)

Notes:

  1. During the six months ended 30 June 2020, the Group disposed of certain equity interests in several subsidiaries to independent third parties at the considerations of RMB1,404,241,000 in aggregate (six months ended 30 June 2019: RMB1,394,400,000). Upon the completion of the disposal, the subsidiaries became the joint ventures and associates of the Group, recognised according to the fair value of the remaining equity investments held by the Group with the disposal gains recognised in an amount of RMB1,812,304,000 (six months ended 30 June 2019: RMB2,988,981,000) (note 24 and 32).
  2. During the six months ended 30 June 2020, the Group acquired additional equity interests in certain joint ventures from the other independent shareholders of the joint ventures at the considerations of RMB1,596,867,000 in aggregate (six months ended 30 June 2019: RMB1,834,305,000). Upon the completion of the acquisitions, the joint ventures became the subsidiaries of the Group with remeasurement gains on the investments in joint ventures recognised in an amount of RMB825,314,000 (six months ended 30 June 2019: RMB579,449,000) and transferred to subsidiaries in an amount of RMB2,887,440,000 (six months ended 30 June 2019: RMB1,834,305,000) (note 24 and 33).
  3. During the six months ended 30 June 2020, the Group disposed of certain joint ventures and an associate to independent third parties at the consideration of RMB935,621,000 in aggregate (six months ended 30 June 2019: nil). Upon the completion of the disposal, the Group recognised the disposal gain in an amount of RMB40,796,000 (six months ended 30 June 2019: nil) (note 24).

As at 30 June 2020, the Group's shares of losses of certain associates and joint ventures exceeded its interests in the underlying entities, and the unrecognised share of losses amounted to RMB123,118,000 (31 December 2019: RMB169,828,000).

The contingent liabilities relating to the Group's investments accounted for using equity method are disclosed in note 34. There is no material commitment relating to the Group's investments accounted for using equity method.

  • Prepayments for acquisition of land use rights

The amounts represent up-front payments for acquiring land use rights for property development. The amounts will be transferred to properties under development in the balance sheet when the Group obtains contractual usage rights of the relevant lands.

42 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

10 Properties under development

30 June

31 December

2020

2019

(unaudited)

(audited)

Properties under development expected to be completed:

- Within one operating cycle included under current assets

93,765,379

79,622,115

- Beyond one operating cycle included under non-current assets

24,940,532

31,742,993

118,705,911

111,365,108

Properties under development comprise:

- Land use rights

83,590,223

82,298,436

- Construction costs and capitalised expenditures

28,070,298

22,578,415

- Capitalised interest

7,045,390

6,488,257

118,705,911

111,365,108

Most of the Group's properties under development are located in the PRC. The relevant land use rights in the PRC are on leases of 40 to 70 years.

The capitalisation rate of borrowings for the six months ended 30 June 2020 is 7.26% (the six months ended 30 June 2019: 7.38%).

As at 30 June 2020, a provision of RMB1,453,046,000 was made to write down the properties under development (31 December 2019: RMB1,561,682,000).

As at 30 June 2020, properties under developments of approximately RMB36,492,235,000 (31 December 2019: RMB41,031,375,000) were pledged as collateral for the Group's borrowings (note 20(e)).

11 Completed properties held for sale

All completed properties held for sale are located in the PRC. The relevant land use rights in the PRC are on leases of 40 to 70 years.

As at 30 June 2020, a provision of RMB622,373,000 was made to write down the completed properties held for sale (31 December 2019: RMB706,290,000).

As at 30 June 2020, completed properties held for sale of approximately RMB121,747,000 (31 December 2019: RMB116,563,000) were pledged as collateral for the Group's bank borrowings (note 20(e)).

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

43

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

12 Trade and other receivables

30 June

31 December

2020

2019

(unaudited)

(audited)

Trade receivables due from (note (a))

- Third parties

8,204,950

7,211,910

- Joint ventures (note 37(c))

670,396

548,298

- Associates (note 37(c))

49,704

41,829

Gross trade receivables

8,925,050

7,802,037

Less: allowance for impairment of trade receivables

(143,077)

(73,440)

Total trade receivables

8,781,973

7,728,597

Other receivables due from:

- Third parties

18,071,887

12,173,705

- Joint ventures (note 37(c))

11,051,795

9,793,586

- Associates (note 37(c))

4,006,785

1,284,290

- Other related parties (note 37(c))

476,894

193,728

- Non-controlling interests

2,015,027

1,633,207

Loan and interest receivables due from related parties (note 37(c))

2,878,215

3,232,359

Prepaid value-added taxes and other taxes

3,385,627

2,843,320

Deposits for acquisition of land use rights

869,003

844,197

Prepayments

967,241

1,033,784

Gross other receivables

43,722,474

33,032,176

Less: allowance for impairment of other receivables

(288,898)

(218,579)

Total other receivables

43,433,576

32,813,597

Less: other receivables due from the joint ventures and associates

- non-current portion

(8,061,018)

(5,182,026)

Other receivables - current portion

35,372,558

27,631,571

Trade and other receivables - current portion

44,154,531

35,360,168

As at 30 June 2020, the fair value of trade and other receivables approximated their carrying amounts.

44 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

12 Trade and other receivables (Continued)

Notes:

  1. Trade receivables mainly arose from sales of properties, provision of property management services and provision of construction services. Trade receivables are settled in accordance with the terms stipulated in respective sale and purchase agreements or services agreements. As at 30 June 2020 and 31 December 2019, the ageing analysis of the trade receivables based on invoice date is as follows:

30 June 2020

31 December 2019

(unaudited)

(audited)

Within 90 days

5,656,718

4,803,143

Over 90 days and within 365 days

2,530,626

2,283,793

Over 365 days

737,706

715,101

8,925,050

7,802,037

As at 30 June 2020, trade receivables of approximately RMB469,067,000 (31 December 2019: RMB1,275,993,000) were pledged as collateral for the Group's bank borrowings (note 20(e)).

The Group applies the simplified approach to provide for expected credit losses prescribed by HKFRS 9. As at 30 June 2020, a provision of RMB143,077,000 was made against the gross amounts of trade receivables (31 December 2019: RMB73,440,000).

Trade receivables are written off when there is no reasonable expectation of recovery. Indicators that there is no reasonable expectation of recovery include, amongst others, the failure of a debtor to engage in a repayment plan with the Group.

  1. The carrying amounts of trade and other receivables are mainly denominated in RMB.

13 Financial assets at fair value through profit or loss

Financial assets at fair value through profit or loss include the following:

31 December

30 June

2020

2019

(unaudited)

(audited)

Current assets

Wealth management products

2,205,934

430,083

Hong Kong listed equity securities and debt instruments

231,086

181,691

Unlisted equity securities

326,084

326,084

Derivative financial instruments

341,333

-

Others

75,085

70,173

3,179,522

1,008,031

Notes:

  1. Amounts recognised in profit or loss
    Increases in fair value of financial assets at FVPL amounting to RMB53,863,000 are recorded as "other gains, net" in the interim consolidated income statements (for six months ended 30 June 2019: increases in fair value of RMB882,667,000) (note 24).
  2. Fair value measurements
    The information about the methods and assumptions used in determining fair value is disclosed in note 4.

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

45

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

14 Restricted cash

As at 30 June 2020 and 31 December 2019, the Group's restricted cash were mainly denominated in RMB. The conversion of the PRC group entities' RMB denominated bank balances into foreign currencies and the remittance of such foreign currencies denominated bank balances and cash out of the PRC are subject to relevant rules and regulation of foreign exchange control promulgated by the PRC government.

As at 30 June 2020 and 31 December 2019, restricted cash is mainly comprised of guarantee deposits for mortgage loans, guarantee deposits for construction of pre-sold properties, deposits for accident compensation and collateral for borrowings.

15 Cash and cash equivalents

30 June

31 December

2020

2019

(unaudited)

(audited)

Cash and cash equivalents comprise the following:

Cash at bank and in hand

34,421,915

30,055,563

Short-term bank deposits

3,939,854

3,495,740

38,361,769

33,551,303

Denominated in RMB (note (a))

33,335,179

26,066,124

Denominated in other currencies

5,026,590

7,485,179

38,361,769

33,551,303

Note:

  1. The conversion of RMB denominated balances into foreign currencies and the remittance of such foreign currencies denominated bank balances and cash out of the PRC are subject to relevant rules and regulation of foreign exchange control promulgated by the PRC government.

46 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

16 Share capital and premium

Equivalent

Nominal

nominal

Number of

value of

value of

ordinary

ordinary

ordinary

Share

shares

shares

shares

premium

Total

HK$'000

RMB'000

RMB'000

RMB'000

Authorised

As at 30 June 2020 and

31 December 2019

10,000,000,000

1,000,000

Issued and fully paid share

capital

At 30 June 2020 and

31 December 2019

3,917,047,500

391,705

400,253

3,021,630

3,421,883

17 Share Award Scheme

On 10 December 2013, the Board of Directors of the Company adopted a Share Award Scheme, under which shares may be awarded to employees of the Company in accordance with the terms and conditions of the Share Award Scheme.

Pursuant to the rules of the Share Award Scheme, the Group has set up a trust ("Employee Share Trust"), for the purposes of administering the Share Award Scheme and holding Awarded Shares before they vest. On 10 February 2014, the Company allotted and issued 34,470,000 new shares to the trustee to hold on trust. On 3 January 2014, 32,750,000 of which has been granted to the 116 selected employees, subject to, among others, the performance conditions of both the Group and the awardees can be fulfilled and the awardees remain employed by the Group.

The award of first 30%, second 30% and remaining 40% Awarded Shares lapsed effective from 26 August 2015, 23 August 2016 and 28 August 2017 respectively. The lapsed shares hold in Share Award Scheme will not be cancelled. As at 30 June 2020, the shares under the Share Award Scheme held by the Employee Share Trustee amounted to RMB156,588,000 (31 December 2019: RMB156,588,000), which was presented within equity in the interim consolidated balance sheet.

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

47

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

18 Other reserves

Statutory

reserve and

enterprise

Merger

expansion

Translation

reserve

fund

reserve

Others

Total

(note (a))

(note (b))

Six months ended 30 June 2020

(unaudited)

Balance as at 1 January 2020

442,395

3,904,496

(3,174)

(1,412,450)

2,931,267

Transfer from retained earnings

-

172,571

-

-

172,571

Currency translation difference

-

-

3,728

-

3,728

Changes in the fair value of equity

investments at FVOCI, net of tax

-

-

-

(14,285)

(14,285)

Acquisition of additional interest

in subsidiaries

-

-

-

(177,239)

(177,239)

Other transaction with non-controlling

interests

-

-

-

1,590

1,590

Balance as at 30 June 2020

442,395

4,077,067

554

(1,602,384)

2,917,632

Statutory

reserve and

enterprise

Merger

expansion

Translation

reserve

fund

reserve

Others

Total

(note (a))

(note (b))

Six months ended 30 June 2019

(unaudited)

Balance as at 1 January 2019

442,395

3,150,510

(2,057)

(985,866)

2,604,982

Transfer from retained earnings

-

415,542

-

-

415,542

Currency translation difference

-

-

1,157

-

1,157

Changes in the fair value of equity

investments at FVOCI, net of tax

-

-

-

(25,588)

(25,588)

Acquisition of additional interest in

subsidiaries

-

-

-

41,250

41,250

Put options granted during the acquisition

of subsidiaries

-

-

-

(62,179)

(62,179)

Balance as at 30 June 2019

442,395

3,566,052

(900)

(1,032,383)

2,975,164

48 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

18 Other reserves (Continued)

Notes:

  1. Merger reserve of the Group represents the difference between the share capital of subsidiaries acquired over the nominal value of the shares of the Company issued in exchange pursuant to the Group reorganisation undertaken for listing of Company on the Stock Exchange.
  2. Pursuant to the relevant rules and regulations concerning foreign investment enterprise established in the PRC and the articles of association of certain PRC subsidiaries of the Group, those subsidiaries are required to transfer an amount of their profit after taxation to the statutory reserve fund, until the accumulated total of the fund reaches 50% of their registered capital. The statutory reserve fund may be distributed to equity holders in the form of bonus issue.
    The appropriation to the enterprise expansion fund is solely determined by the board of directors of the subsidiaries.

19 Perpetual Capital Securities

Movements of the Perpetual Capital Securities are as follows:

Principal

Distribution

Total

Six months ended 30 June 2020 (unaudited)

Balance as at 1 January 2020

13,429,012

137,855

13,566,867

Profit attributable to holders of Perpetual Capital Securities

-

549,386

549,386

Distribution made to holders of Perpetual Capital Securities

-

(482,835)

(482,835)

Balance as at 30 June 2020

13,429,012

204,406

13,633,418

Six months ended 30 June 2019 (unaudited)

Balance as at 1 January 2019

8,057,046

277,829

8,334,875

Issuance of Perpetual Capital Securities

4,784,676

-

4,784,676

Profit attributable to holders of Perpetual Capital Securities

-

417,296

417,296

Distribution made to holders of Perpetual Capital Securities

-

(389,400)

(389,400)

Balance as at 30 June 2019

12,841,722

305,725

13,147,447

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

49

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

20 Borrowings

30 June

31 December

2020

2019

(unaudited)

(audited)

Borrowings included in non-current liabilities:

Senior notes (note (a))

- Senior notes issued in 2015 ("2015 Senior Notes") (note (a)(i))

-

3,468,738

- Senior notes issued in 2017 ("2017 Senior Notes") (note (a)(ii))

1,405,057

1,381,795

- Senior notes issued in 2018 ("2018 Senior Notes I") (note (a)(iii))

4,232,598

4,163,067

- Senior notes issued in 2018 ("2018 Senior Notes II") (note (a)(iv))

2,825,253

2,774,113

- Senior notes issued in 2019 ("2019 Senior Notes") (note (a)(v))

3,521,716

3,464,656

PRC corporate bonds (note (b))

8,568,024

8,567,219

Commercial Mortgage Backed Securities (note (c))

4,088,879

4,084,182

Asset-backed securities (note (d))

442,985

904,408

Long-term syndicated loans

- secured (note (e))

16,445,342

15,302,192

- unsecured (note (f))

1,560,101

1,513,829

Long-term bank borrowings

- secured (note (e))

24,813,209

22,550,460

- unsecured (note (f))

10,414,255

9,123,273

Other borrowings

- secured (note (e))

6,428,573

8,598,962

- unsecured (note (f))

919,953

1,189,710

Less: current portion of non-current borrowings

(27,030,059)

(32,713,984)

58,635,886

54,372,620

Borrowings included in current liabilities:

Short-term bank borrowings

- secured (note (e))

1,306,713

2,495,166

- unsecured (note (f))

3,576,066

1,854,931

Short-term other borrowings

- secured (note (e))

4,607,200

4,983,001

- unsecured (note (f))

3,782,847

250,000

Current portion of non-current borrowings

27,030,059

32,713,984

40,302,885

42,297,082

Total borrowings

98,938,771

96,669,702

50 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

20 Borrowings (Continued)

Notes:

  1. Senior notes
    The senior notes are jointly guaranteed by certain subsidiaries of the Group and are secured by pledges of the shares of these subsidiaries. The net assets of these subsidiaries were approximately RMB1,945,874,000 as at 30 June 2020 (31 December 2019: RMB4,393,620,000).
    1. 2015 Senior Notes
      On 21 May 2015, the Company issued 9% senior notes with an aggregated nominal value of US$500,000,000 (equivalent to approximately RMB3,056,850,000) at 99.507% of the face value. The net proceeds, after deducting the issuance costs, amounted to US$490,391,000 (equivalent to approximately RMB2,998,104,000). The 2015 Senior Notes matured on 21 May 2020 and the Company redeemed the outstanding 2015 Senior Notes in full at a redemption price equal to 100% of the principal amount plus accrued and unpaid interest.
    2. 2017 Senior Notes
      On 14 August 2017, the Company issued 5.125% senior notes with an aggregated nominal value of US$200,000,000 (equivalent to approximately RMB1,332,020,000) at face value. The net proceeds, after deducting the issuance costs, amounted to US$196,125,000 (equivalent to approximately RMB1,306,210,000). The 2017 Senior Notes will mature on 14 August 2022. The Company, at its option, can redeem all or a portion of the 2017 Senior Notes at any time prior to the maturity date at the redemption prices plus accrued and unpaid interest up to the redemption date.
    3. 2018 Senior Notes I
      On 18 July 2018, the Company issued 8.5% senior notes with an aggregated nominal value of US$600,000,000 (equivalent to approximately RMB4,040,064,000) at face value. The net proceeds, after deducting the issuance costs, amounted to US$593,557,000 (equivalent to approximately RMB3,997,108,000). The 2018 Senior Notes I will mature on 18 July 2021. The Company, at its option, can redeem all or a portion of the 2018 Senior Notes I at any time prior to the maturity date at the redemption prices plus accrued and unpaid interest up to the redemption date.
    4. 2018 Senior Notes II
      On 23 November 2018, the Company issued 9.5% senior notes with an aggregated nominal value of US$400,000,000 (equivalent to approximately RMB2,772,240,000) at face value. The net proceeds, after deducting the issuance costs, amounted to US$394,533,000 (equivalent to approximately RMB2,734,182,000). The 2018 Senior Notes II will mature on 23 November 2020. The Company, at its option, can redeem all or a portion of the 2018 Senior Notes II at any time prior to the maturity date at the redemption prices plus accrued and unpaid interest up to the redemption date.
    5. 2019 Senior Notes
      On 7 March 2019, the Company issued 6.7% senior notes with an aggregated nominal value of US$500,000,000 (equivalent to approximately RMB3,355,500,000) at face value. The net proceeds, after deducting the issuance costs, amounted to US$495,429,000 (equivalent to approximately RMB3,324,823,000). The 2019 Senior Notes will mature on 7 March 2022. The Company, at its option, can redeem all or a portion of 2019 Senior Notes at any time prior to the maturity date at the redemption prices plus accrued and unpaid interest up to the redemption date.
  3. PRC Corporate Bonds
    On 11 January 2016, a PRC subsidiary (the "Issuer") of the Company issued 4.7% corporate bonds with an aggregate amount of RMB1,600,000,000. The net proceeds, after deducting the issuance costs, amounted to approximately RMB1,584,080,000. On 14 January 2019, the Issuer redeemed the bond in an aggregate principal amount of RMB12,228,000 as the investors exercised the right to sell back. The bonds has been resold to the new investors, and the bonds will mature on 11 January 2021 at the coupon rate of 6.95%.
    On 29 July 2016, the Company issued 4.98% corporate bonds with an aggregate amount of RMB3,000,000,000. The net proceeds, after deducting the issuance costs, amounted to approximately RMB2,970,000,000. The bonds will mature on 29 July 2020. The Company shall be entitled to adjust the coupon rate at the end of second year whereas the investors shall be entitled to sell back in whole or in part the bonds. On 30 July 2018, the Company completed the repurchase and cancellation of the non-public Domestic Corporate Bonds in an aggregate principal amount of RMB2,030,000,000. There are 9,700,000 Domestic Bonds in an aggregate principal amount of RMB970,000,000 outstanding. The bonds will mature on 29 July 2020 at the coupon rate of 7.50%.
    On 11 October 2016, the Company issued 4.6% corporate bonds with an aggregate amount of RMB1,800,000,000. The net proceeds, after deducting the issuance costs, amounted to approximately RMB1,787,250,000. On 11 October 2019, the Issuer redeemed the bond in an aggregate principal amount of RMB570,000,000 as the investors exercised the right to sell back The bonds have been resold to the new investors, and the bonds will mature on 11 October 2021 at the coupon rate of 6.90%.
    On 11 October 2016, the Company issued 5.7% corporate bonds with an aggregate amount of RMB1,200,000,000. The net proceeds, after deducting the issuance costs, amounted to approximately RMB1,192,500,000. The bonds will mature on 11 October 2023. The Company shall be entitled to adjust the coupon rate at the end of the fifth year whereas the investors shall be entitled to sell back in whole or in part the bonds.
    On 12 July 2017, the Company issued 6.98% corporate bonds with an aggregate amount of RMB3,000,000,000. The net proceeds, after deducting the issuance costs, amounted to approximately RMB2,976,735,000. On 12 July 2019, the Issuer redeemed the bond in an aggregate principal amount of RMB351,000,000 as the investors exercised the right to sell back. The bonds have been resold to the new investors, and the bonds will mature on 12 July 2020 at the coupon rate of 6.60%.

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

51

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

20 Borrowings (Continued)

Notes: (Continued)

  1. Commercial Mortgage Backed Securities
    A PRC subsidiary of the Company engaged in commercial property operation entered into Commercial Mortgage Backed Securities ("CMBS") arrangement with an assets management company by pledging of the receivables for certain properties under its operation. On 10 April 2018, the CMBS was formally established with an aggregate nominal value of RMB4,600,000,000, with a 18-year maturity, amongst which RMB500,000,000 was subordinate securities purchased by the PRC subsidiary as original equity holder. The net proceeds from the CMBS, after deducting the issuance costs and the subordinate securities purchased by the PRC subsidiary, amounted to approximately RMB4,066,700,000. As at 30 June 2020, there was CMBS in an aggregate principal amount of RMB4,098,000,000 outstanding.
  2. Asset-backedsecurities
    A PRC subsidiary of the Company engaged in property development entered into an asset-backed securities ("Panyu ABS") arrangement with an assets management company by pledging of the trade receivables for certain properties under its management. On 1 September 2017, the Panyu ABS was formally established with an aggregate nominal value of RMB1,111,500,000, with a 3-year maturity, amongst which RMB55,000,000 was subordinate securities purchased by the PRC subsidiary as original equity holder. The net proceeds from the Panyu ABS, after deducting the issuance costs and the subordinate securities purchased by the PRC subsidiary, amounted to approximately RMB1,053,653,000. On 1 September 2019, the Company completed the repurchase and cancellation of the Panyu ABS in an aggregate principal amount of RMB151,424,000. On 26 February 2020, the Company completed the repurchase and cancellation of the Panyu ABS in an aggregate principal amount of RMB782,924,000. As at 30 June 2020, there was Panyu ABS in an aggregate principal amount of RMB122,151,700 outstanding.
    One of the newly acquired PRC subsidiaries of the Company entered into an asset-backed securities arrangement with an assets management company by pledging of the receivables for certain property management contracts in respect of certain properties under the PRC subsidiary's management, and supported by a guarantee provided by the original shareholder before being acquired by the Group. The asset-backed securities will mature in July 2021. As at 30 June 2020, there was ABS in an aggregate principal amount of RMB321,000,000 outstanding.
  3. As at 30 June 2020, the Group's borrowings were secured by certain of its cash, land use rights, self-used properties, trade receivables, completed properties held for sale, properties under development, investment properties and the shares of certain subsidiaries and equity interests of a joint venture.
  4. As at 30 June 2020, the Group's unsecured borrowings of RMB20,253,222,000 were jointly guaranteed by certain subsidiaries of the Group.
  5. Movements of borrowings are analysed as follows:

Six months ended 30 June

2019

2020

(unaudited)

(unaudited)

Opening amount as at 1 January

96,669,702

88,529,357

Additions

27,235,259

25,790,343

Addition from acquisition of subsidiaries (note 33)

3,449,472

1,723,100

Repayments

(28,215,624)

(21,939,803)

Derecognition due to disposal of subsidiaries

(995,000)

(880,000)

Issuance costs

(130,261)

(63,650)

Amortisation of issuance costs

186,977

206,148

Exchange losses (note 28)

749,955

197,744

Currency translation differences

(11,709)

3,505

Closing amount as at 30 June

98,938,771

93,566,744

  1. The Group has the following undrawn borrowing facilities:

30 June 2020

31 December 2019

(unaudited)

(audited)

Floating rate

- expiring beyond one year

7,633,000

6,404,000

52 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

21 Trade and other payables

30 June

31 December

2020

2019

(unaudited)

(audited)

Trade payables (note (a))

23,169,905

21,276,425

Other payables due to:

- Third parties

25,490,997

13,935,941

- Related parties (note 37(c))

11,915,509

8,193,454

- Non-controlling interests

3,394,196

3,200,722

Staff welfare benefit payable

589,924

1,073,575

Accruals

1,896,231

1,433,623

Advances from disposal of subsidiaries

-

2,681,106

Other taxes payable

5,116,184

4,324,850

71,572,946

56,119,696

Less: other payables - non-current portion

(2,887,542)

(2,201,976)

Trade and other payables - current portion

68,685,404

53,917,720

Note:

  1. The ageing analysis of trade payables of the Group based on invoice date as at 30 June 2020 and 31 December 2019 is as follows:

30 June 2020

31 December 2019

(unaudited)

(audited)

Within 90 days

14,767,801

13,440,152

Over 90 days and within 180 days

6,691,649

6,265,677

Over 180 days and within 365 days

1,056,235

966,394

Over 365 days

654,220

604,202

23,169,905

21,276,425

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

53

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

22 Financial liabilities at fair value through profit or loss

As at 30 June 2020 and 31 December 2019, the Group had the following financial liabilities at fair value through profit or loss:

30 June

31 December

2020

2019

(unaudited)

(audited)

Non-current portion:

- Put options

62,861

70,436

- Derivative financial instruments

23,487

12,656

86,348

83,092

Current portion:

- Put options

13,981

-

- Derivative financial instruments

-

53,684

13,981

53,684

The notional principal amounts of the outstanding US$ and HK$ forward foreign exchange contracts as at 30 June 2020 were US$4,440,000,000, equivalent to RMB31,432,980,000 in total (31 December 2019: US$4,490,000,000, equivalent to RMB31,323,138,000 in total).

For the six months ended 30 June 2020, gains derived from changes in fair value of derivative financial instruments of RMB396,894,000 (for six months ended 30 June 2019: gains of RMB174,100,000) have been recorded in "finance costs, net" in the interim consolidated income statement (note 28).

54 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

23 Contract liabilities

The Group has recognised the following revenue-related contract liabilities:

31 December

30 June

2020

2019

(unaudited)

(audited)

Contract liabilities

- Related parties (note 37(c))

46,614

44,094

- Third parties

38,420,171

33,609,856

38,466,785

33,653,950

  1. The Group receives payments from customers based on billing schedule as established in contracts. Payments are usually received in advance of the performance under the contracts which are mainly from sales of properties.
  2. Revenue recognised in relation to contract liabilities
    The following table shows how much of the revenue recognised in the current reporting period relates to brought-forward contract liabilities.

As at

As at

1 January 2020

1 January 2019

(unaudited)

(unaudited)

Revenue recognised that was included at

the beginning of the period

Sales of properties

19,886,345

18,058,787

Property management and value-added services

394,153

360,754

20,280,498

18,419,541

  1. Unsatisfied performance obligations
    The amount of unsatisfied performance obligation is approximately the same as the balance of contract liabilities at of 30 June 2020 and 31 December 2019.

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

55

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

24 Other gains, net

Six months ended 30 June

2019

2020

(unaudited)

(unaudited)

Gains from disposal of subsidiaries (note 32)

1,812,304

2,988,981

Remeasurement gains resulting from joint ventures transferred to

subsidiaries (note 8)

825,314

579,449

Fair value gains on financial assets at FVPL (note 13(a))

53,863

882,667

Gains/(losses) on disposal of property, plant and equipment and

investment properties

67,306

(11,597)

Gains from disposal of joint ventures

40,796

-

Fair value gains on investment properties (note 6)

12,513

1,870

Gains on disposal of financial assets at FVPL

24,908

247,028

Exchange (losses)/gains, net (note (a))

(32,804)

9,433

Miscellaneous

27,759

24,151

2,831,959

4,721,982

Note:

  1. Amounts mainly represent the losses or gains of translation of financial assets and liabilities, which are denominated in foreign currency into RMB at the prevailing period-end exchange rate. It does not include the exchange gains or losses related to borrowings which are included in the "finance costs, net" (note 28).

56 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

25 Other income

Six months ended 30 June

2019

2020

(unaudited)

(unaudited)

Interest income (note (a))

455,827

340,306

Interest income from related parties (note 37(b))

184,916

144,071

Government grants

99,624

38,320

Miscellaneous

37,217

54,703

777,584

577,400

Note:

  1. Interest income was mainly derived from bank deposit.

26 Other expenses

Six months ended 30 June

2019

2020

(unaudited)

(unaudited)

Charitable donations

48,388

55,420

Miscellaneous

79,920

79,317

128,308

134,737

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

57

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

27 Expenses by nature

Six months ended 30 June

2019

2020

(unaudited)

(unaudited)

Cost of completed properties sold

17,893,803

16,319,298

Employee benefit expenses - including directors' emoluments

3,128,156

2,158,765

- property development

1,205,263

961,847

- property management

1,600,084

965,636

- hotel operations

104,482

110,005

- environmental protection

218,327

121,277

Cleaning expenses

412,130

194,930

Cost of inventories consumed by environmental protection and

property management services

352,464

136,744

Commission fees

363,206

290,754

Advertising costs

365,642

338,991

Depreciation (note 6)

327,284

260,239

Write-down of completed properties held for sale and properties

under development

306,704

523,728

Security charges

275,230

161,379

Consulting fees

156,440

138,533

Taxes and other levies on sales of properties

162,681

94,738

Maintenance costs

159,465

76,384

Other taxes

153,217

125,739

Amortisation of right-of-use assets (note 6)

107,183

90,492

Amortisation of intangible assets (note 7)

96,151

27,661

Utilities expenses

94,280

90,601

Auditors' remuneration

5,492

4,369

Others

313,032

210,284

Total cost of sales, selling and marketing costs and

administrative expenses

24,672,560

21,243,629

58 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

28

Finance costs, net

Six months ended 30 June

2019

2020

(unaudited)

(unaudited)

Interest expenses:

- Bank borrowings, syndicated loans and other borrowings

2,555,520

2,292,322

- Senior notes

616,687

592,132

- PRC corporate bonds, ABS and CMBS

428,033

434,712

- Lease liabilities

12,709

16,174

Less: interest and exchange losses capitalised

(2,623,775)

(2,433,342)

Exchange losses from borrowings

749,955

197,744

Changes in fair value of derivative financial instruments

(note 13 and note 22)

(396,894)

(174,100)

1,342,235

925,642

29

Income tax expenses

Six months ended 30 June

2019

2020

(unaudited)

(unaudited)

Current income tax

- PRC corporate income tax

2,356,433

1,952,522

- PRC land appreciation tax

1,859,747

1,322,293

- PRC withholding income tax

200,116

140,189

- Hong Kong profits tax

-

73,015

Deferred income tax

- PRC corporate income tax

631,307

834,419

- Hong Kong profits tax

-

(14,877)

5,047,603

4,307,561

Income tax expenses recognised based on management's estimate of the weighted average effective annual income tax rate expected for the full financial year. The estimated average annual tax rate used for the six month ended to 30 June 2020 is 31.2%, slightly lower than 32% for the six months ended 30 June 2019.

PRC corporate income tax

The income tax provision of the Group in respect of operations in Mainland China has been calculated at the applicable tax rate on the estimated assessable profits for the period, based on the existing legislation, interpretations and practices in respect thereof.

The corporate income tax rate applicable to the Group entities located in Mainland China is 25% according to the Corporate Income Tax Law of the PRC (the "CIT Law") effective on 1 January 2008.

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

59

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

29 Income tax expenses (Continued)

PRC corporate income tax (Continued)

In 2018, certain subsidiaries of the Group obtained the Certificate of High-New Technical Enterprise. According to the Corporation Income Tax Law of the PRC, corporations which obtain the Certificate of High-New Technical Enterprise are entitled to enjoy additional tax deduction for research and development costs and a preferential corporate income tax rate of 15%. The tax rate applicable to these companies during the period ended 30 June 2020 was 15% (six months ended 30 June 2019: 15%).

A subsidiary of the Group has enjoyed a preferential policy in Zhuhai Hengqin (Free Trade Area) with an enterprise income tax rate of 15% during the period ended 30 June 2020. Certain subsidiaries of the Group in the PRC are located in western cities, and they are subject to a preferential income tax rate of 15% in certain years.

Certain subsidiaries of the Group in the PRC provide environmental protection services and these companies enjoy the policy of "Three exemption and three half corporate income tax". Certain subsidiaries of the Group in the PRC are located in Hainan Free Trade Port and subject to a preferential income tax rate of 15% in certain years (six months ended 30 June 2019: 25%).

PRC land appreciation tax

PRC land appreciation tax is levied at progressive rate ranging from 30% to 60% on the appreciation of land value, being the proceeds from sales of properties less deductible expenditures including land use rights and expenditures directly related to property development activities.

PRC withholding income tax

According to the CIT Law, starting from 1 January 2008, a withholding tax of 10% will be levied on the immediate holding companies outside the PRC when their PRC subsidiaries declare dividend out of profits earned after 1 January 2008. A lower 5% withholding tax rate may be applied when the immediate holding companies of the PRC subsidiaries are established in Hong Kong and fulfil requirements under the tax treaty arrangements between the PRC and Hong Kong.

During the six months ended 30 June 2020, certain immediate holding companies of the PRC subsidiaries of the Group are qualified as Hong Kong resident enterprises and fulfil the requirements under the tax treaty arrangements between the PRC and Hong Kong. Therefore, 5% withholding tax rate has been applied.

Overseas income tax

The Company was incorporated in the Cayman Islands as an exempted company with limited liability under the Companies Law, Cap 22 of Cayman Islands and accordingly, is exempted from Cayman Islands income tax. Group entities in the British Virgin Islands were incorporated either under the BVI Business Companies Act or were automatically re-registered under the same act on 1 January 2007 and, accordingly, are exempted from British Virgin Islands income tax.

Hong Kong profits tax

Except for the fair value gains and the disposal gain of financial assets at fair value through profit or loss which subject to the income tax rate of 16.5%, no other provision for Hong Kong profits tax has been made in the consolidated financial statements. The remaining profit of the Group entities in Hong Kong is mainly derived from dividend income and interest income of bank deposits, which are not subject to Hong Kong profits tax.

60 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

30 Earnings per share

Basic earnings per share is calculated by dividing the profit attributable to shareholders of the Company by the weighted average number of ordinary shares in issue during the period less shares held for Share Award Scheme.

Six months ended 30 June

2019

2020

(unaudited)

(unaudited)

Profit attributable to shareholders of the Company

5,127,482

5,076,668

Weighted average number of ordinary shares in issue

less shares held for Share Award Scheme (thousands)

3,882,578

3,882,578

Basic earnings per share (RMB per share)

1.321

1.308

Diluted earnings per share is calculated by adjusting the weighted average number of ordinary shares outstanding to assume conversion of all dilutive potential ordinary shares. For the six months ended 30 June 2020 and 30 June 2019, there was no diluted potential ordinary share. Thus diluted earnings per share equalled basic earnings per share.

31 Dividends

  • final dividend in respect of 2019 of HK$0.40 per ordinary share, approximately HK$1,566,819,000 (equivalent to RMB1,428,594,000) was declared at the Annual General Meeting of the Company on 11 May 2020, of which HK$13,788,000 (equivalent to RMB12,463,000) was declared for shares held by Share Award Scheme. The final dividend has been distributed out of the Company's retained earnings.

An interim dividend in respect of the six months ended 30 June 2020 of HK$0.50 per ordinary share, approximately HK$1,958,524,000 (equivalent to RMB1,750,626,000) was declared by the Board of Directors of the Company (six months ended 30 June 2019: RMB2,124,946,000).

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

61

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

32 Disposal of subsidiaries

During the six months ended 30 June 2020, the Group disposed of certain equity interests in several wholly-owned subsidiaries (the "Disposed Projects") to independent third parties at considerations of RMB1,404,241,000 in total. The Group lost control over the Disposed Projects and according to the shareholders agreements, the Group is eligible to exercise joint control over the Disposed Projects together with relevant buyers. The Group accounted for the Disposed Projects as joint ventures and recorded disposal gain of RMB1,812,304,000 during the six months ended 30 June 2020. Details of the disposal transactions are as follows:

Total

Disposal considerations

- Cash received

1,404,241

- Fair value of remaining equity interests in the Disposed Projects (note 8)

1,564,268

2,968,509

Less:

- total net assets of the subsidiaries disposed of

(1,156,205)

Gains from disposal of subsidiaries

1,812,304

Cash proceeds from disposal, net of cash disposed of:

Cash consideration received

1,404,241

Less:

- cash and cash equivalents in the subsidiaries disposed of

(107,857)

- advances from disposal of the subsidiaries received in prior years

(994,463)

Net cash inflow on disposals

301,921

62 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

33 Business combinations

During the six months ended 30 June 2020, the Group completed several acquisitions of equity interests in certain companies, mainly included property development companies, property management companies and environmental protection companies, at consideration of RMB6,160,508,000 in aggregate. Goodwill of RMB871,135,000 and identifiable net assets of RMB5,289,373,000 were recognised. The directors of the Company consider that none of these subsidiaries acquired during the period was significant to the Group and thus the individual financial information of these subsidiaries on the acquisition date is not disclosed.

Details of the purchase consideration, the net assets acquired and goodwill are as follows:

Total

Total Consideration

Total cash considerations

1,692,353

Liabilities assumed by the Group in exchange for control of the acquirees

1,580,715

Fair value of investments in joint ventures held before business combination (note 8)

2,887,440

6,160,508

Recognised amounts of identifiable assets acquired and liabilities assumed

Cash and cash equivalents

1,279,934

Restricted cash

26,488

Financial assets at fair value through profit or loss

225,170

Financial assets at fair value through other comprehensive income

28,581

Property, plant and equipment

101,156

Investments accounted for using the equity method

498,373

Properties under development

12,326,195

Other intangible assets

679,654

Right-of-use assets

13,622

Inventories

2,637

Trade and other receivables

6,522,880

Trade and other payables

(8,199,510)

Contract liabilities

(2,296,327)

Lease liabilities

(13,966)

Borrowings

(3,449,472)

Deferred income tax assets

84,329

Deferred income tax liabilities

(700,198)

Total identifiable net assets

7,129,546

Non-controlling interests

(1,840,173)

Identifiable net assets attributable to the Company

5,289,373

Goodwill

871,135

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

63

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

33 Business combinations (Continued)

Net cash inflow arising on acquisitions during the six months ended 30 June 2020:

Total

Cash and cash equivalents in the subsidiaries acquired

1,279,934

Less: total cash considerations

(1,692,353)

Add: cash considerations payable as at 30 June 2020

256,048

Add: cash considerations paid in prior year

468,000

Cash inflow in the period

311,629

At the time the interim financial information was authorised for issue, the Group had not yet completed the accounting for the acquisitions. In particular, the fair values of the assets and liabilities disclosed above have only been determined provisionally as the independent valuations have not been finalised.

34 Financial guarantees

30 June

31 December

2020

2019

(unaudited)

(audited)

Guarantees in respect of mortgage facilities for

certain purchasers (note (a))

51,938,098

38,294,381

Guarantees in respect of borrowings of associates

(note (b) and note 37(b))

1,045,226

1,096,112

Guarantees in respect of borrowings of joint ventures

(note (c) and note 37(b))

5,296,594

5,831,507

Guarantees in respect of borrowings of third parties (note (d))

1,495,958

1,487,074

59,775,876

46,709,074

Notes:

  1. The Group has cooperated with certain financial institutions to arrange mortgage loan facility for its purchasers of property and provided guarantees to secure obligations of such purchasers for repayments. As at 30 June 2020, the outstanding guarantees amounted to RMB51,938,098,000 (31 December 2019: RMB38,294,381,000). Such guarantees will be discharged upon earlier of (i) issuance of the real estate ownership certificate which will generally be available within one year after the purchasers take possession of the relevant properties; and (ii) the satisfaction of relevant mortgage loan by the purchasers.
    Pursuant to the terms of the guarantees, upon default in mortgage payments by these purchasers, the Group is responsible for repaying the outstanding mortgage principals together with any accrued interests and penalties owed by the defaulted purchasers to the banks, and the Group is entitled to take over the legal title and possession of the related properties. The Group's guarantees start from the dates the mortgagees grant the mortgage loans. No provision has been made for the guarantees as the management is of the view that the net realisable value of the related properties can cover the repayment of the outstanding mortgage principals together with the accrued interests and penalties in case of default in payments.

64 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

34 Financial guarantees (Continued)

Notes: (Continued)

  1. As at 30 June 2020, subsidiaries of the Group and associated counter parties provided certain guarantees in proportion to their shareholdings in certain associates in respect of loan facilities amounting to RMB2,689,000,000 (31 December 2019: RMB2,843,700,000). The Group's share of the guarantees amounted to RMB1,045,226,000 (31 December 2019: RMB1,096,112,000).
  2. As at 30 June 2020, several subsidiaries of the Group and joint venture counter parties provided certain guarantees in proportion of their shareholdings in certain joint ventures in respect of loan facilities amounting to RMB12,178,563,000 (31 December 2019: RMB12,423,440,000). The Group's share of the guarantees amounted to RMB5,296,594,000 (31 December 2019: RMB5,831,507,000).
  3. As at 30 June 2020, the Company provided certain guarantees to certain independent third parties in respect of loan facilities amounting to RMB1,495,958,000 (31 December 2019: RMB1,487,074,000).

35 Commitments

30 June

31 December

2020

2019

(unaudited)

(audited)

Contracted but not provided for

- Property development activities

27,450,189

16,406,314

- Acquisition of land use rights

11,762,765

10,020,111

- Property, plant and equipment

1,774,725

813,471

- Other intangible assets

2,705

2,705

40,990,384

27,242,601

36 Future minimum rental payments receivable

The Group had future aggregate minimum lease rental receivables under non-cancellable operating leases as follows:

30 June

31 December

2020

2019

(unaudited)

(audited)

No later than one year

192,767

158,260

Later than one year and not later than five years

449,208

388,876

Over five years

236,800

98,857

878,775

645,993

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

65

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

37 Related party transactions

(a) Name and relationship with related parties

Name

Relationship

Full Choice Investments Limited

The ultimate holding Company

of the Group

Top Coast Investment Limited

The intermediate holding Company

of the Group

The Founding Shareholders, including Mr. Chen Zhuo Lin,

The Founding Shareholders are also

Mr. Chan Cheuk Yin, Madam. Luk Sin Fong, Fion,

the directors of the Company

Mr. Chan Cheuk Hung, Mr. Chan Cheuk Hei, and

Mr. Chan Cheuk Nam (the "Founding Shareholders")

Zhongshan Changjiang Golf Course (note (i))

Controlled by the Founding

中山長江高爾夫球場

Shareholders

Zhongshan Agile Changjiang Hotel Co., Ltd. (note (i))

Controlled by the Founding

中山雅居樂長江酒店有限公司

Shareholders

Atlas (China) Co., Ltd.("Atlas (China)") (note (i))

Associate of the Group

寰圖(中國)有限公司

Changzhou Jingya Real Estate Development Co., Ltd. (note (i))

Associate of the Group

常州勁雅房地產開發有限公司

Chengdu Xueling Corporation Management Co., Ltd. (note (i))

Associate of the Group

成都雪瓴企業管理有限公司

Dali Meizhao Real Estate Development Co., Ltd. (note (i))

Associate of the Group

大理美詔房地產開發有限公司

Foshan Changzhong Real Estate Development

Associate of the Group

Co., Ltd. (note (i))

佛山市昌重房地產開發有限公司

Foshanshi Sanshuiqu Qingmei Real Estate Co., Ltd. (note (i))

Associate of the Group

佛山市三水區擎美房地產有限公司

Foshan Yaxu Real Estate Development Co., Ltd. (note (i))

Associate of the Group

佛山雅旭房地產開發有限公司

Fuzhou Shengquan Real Estate Development Co., Ltd. (note (i))

Associate of the Group

福州盛全房地產開發有限公司

Guangzhou Yajing Real Estate Development Co., Ltd. (note (i))

Associate of the Group

廣州雅景房地產開發有限公司

Guangzhou Yajing Investment Co., Ltd. (note (i))

Associate of the Group

廣州雅景投資有限公司

66 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

37 Related party transactions (Continued)

(a) Name and relationship with related parties (Continued)

Name

Relationship

Guangdong Yingmei Yihao Equity Investment

Associate of the Group

Corporation (Limited Partnership) (note (i))

廣東盈美壹號股權投資合夥企業(有限合夥)

Haimen Xinya Real Estate Development Co., Ltd. (note (i))

Associate of the Group

海門新雅房地產開發有限公司

Handan Yurong Real Estate Development Co., Ltd. (note (i))

Associate of the Group

邯鄲裕榮房地產開發有限公司

Huizhou Meiteng Project Management Co., Ltd. (note (i))

Associate of the Group

惠州美騰項目管理有限公司

Jinzhongshi Jinhong Yubao Real Estate Development

Associate of the Group

Co., Ltd. (note (i))

晉中市錦洪裕寶房地產開發有限責任公司

Jinzhong Jintian Heyi Real Estate Development

Associate of the Group

Co., Ltd. (note (i))

晉中錦添合意房地產開發有限公司

Kunming Yaxin Real Estate Development Co., Ltd. (note (i))

Associate of the Group

昆明雅欣房地產開發有限公司

Nantongshi Tongzhouqu Dongju Land Co., Ltd. (note (i))

Associate of the Group

南通市通州區東居置業有限公司

Sichuan Yacan Real Estate Development Co., Ltd. (note (i))

Associate of the Group

四川雅燦房地產開發有限公司

Sichuan Yaheng Real Estate Development Co., Ltd. (note (i))

Associate of the Group

四川雅恒房地產開發有限公司

Xinxingxian Country Garden Real Estate Development Co., Ltd.

Associate of the Group

(note (i))

新興縣碧桂園房地產開發有限公司

Wuhan Dinghui Yale Real Estate Development Co., Ltd.

Associate of the Group

(note (i))

武漢市鼎輝雅樂房地產開發有限公司

Wuxi Yahui Real Estate Development Co., Ltd. (note (i))

Associate of the Group

無錫雅輝房地產開發有限公司

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

67

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

37 Related party transactions (Continued)

(a) Name and relationship with related parties (Continued)

Name

Relationship

Zhejiang lvlong Eco Technology Co., Ltd. (note (i))

Associate of the Group

浙江綠龍生態科技有限公司

Changsha Shangcheng Land Co., Ltd. (note (i))

Joint venture of the Group

長沙上城置業有限公司

Charm Talent Limited

Joint venture of the Group

煌迪有限公司

Foshan Yazhan Property Development Co., Ltd. (note (i))

Joint venture of the Group

佛山雅展房地產開發有限公司

Fujian Chuxin Eco Technology Co., Ltd. (note (i))

Joint venture of the Group

福建省儲鑫環保科技有限公司

Guangzhou Huadu Yazhan Realty Development

Joint venture of the Group

Co., Ltd. (note (i))

廣州花都雅展房地產開發有限公司

Guangxi Fuya Investments Co., Ltd. (note (i))

Joint venture of the Group

廣西富雅投資有限公司

Guangzhou Lihe Real Estate Property Development

Joint venture of the Group

Co., Ltd. (note (i))

廣州利合房地產開發有限公司

Hainan Yahong Travel Property Co., Ltd. (note (i))

Joint venture of the Group

海南雅宏旅遊置業有限公司

Jiangmenshi Meishun Real Estate Development

Joint venture of the Group

Co., Ltd. (note (i))

江門市美順房地產開發有限公司

Jiaxing Xingya Real Estate Development Co., Ltd. (note (i))

Joint venture of the Group

嘉興興雅房地產開發有限公司

Jinan Yajun Real Estate Development Co., Ltd. (note (i))

Joint venture of the Group

濟南雅雋房地產開發有限公司

Jinan Yaheng Real Estate Development Co., Ltd. (note (i))

Joint venture of the Group

濟南雅恒房地產開發有限公司

Jinan Junsheng Real Estate Development Co., Ltd. (note (i))

Joint venture of the Group

濟南雋盛房地產開發有限公司

68 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

37 Related party transactions (Continued)

(a) Name and relationship with related parties (Continued)

Name

Relationship

Jinzhong Xiya Real Estate Development Co., Ltd. (note (i))

Joint venture of the Group

晉中熙雅房地產開發有限公司

Jiangxi Jianda Investment Co., Ltd. (note (i))

Joint venture of the Group

江西建大投資有限公司

Kaifeng Guokong Songdu Land Co., Ltd. (note (i))

Joint venture of the Group

開封國控宋都置業有限公司

Lianyungangshi Ganglong Land Co., Ltd. (note (i))

Joint venture of the Group

連雲港市港龍置業有限公司

Meizhou Zhongnan Yusheng Real Estate Development

Joint venture of the Group

Co., Ltd. (note (i))

梅州中南昱晟房地產開發有限公司

Tianjin Jinnan Xincheng Real Estate Development Co.,

Joint venture of the Group

Limited (note (i))

天津津南新城房地產開發有限公司

Xuzhou Chuanda Real Estate Development Co., Ltd. (note (i))

Joint venture of the Group

徐州川達房地產開發有限公司

Xuzhou Yafeng Real Estate Development Co., Ltd. (note (i))

Joint venture of the Group

徐州雅豐房地產開發有限公司

Xingyang Agile City Construction Co., Ltd. (note (i))

Joint venture of the Group

滎陽雅居樂城市建設有限公司

Xingyang Agile Enterprise Co., Ltd. (note (i))

Joint venture of the Group

滎陽市雅居樂實業有限公司

Zhongshan Yahong Real Estate Development Co., Ltd. (note (i))

Joint venture of the Group

中山市雅鴻房地產開發有限公司

Zhongshan Zhili Land Co., Ltd. (note (i))

Joint venture of the Group

中山市志力置業有限公司

Zhongshan Yingxuan Real Estate Development

Joint venture of the Group

Co., Ltd. (note (i))

中山市盈軒房地產開發有限公司

Zhongshan Minsen Real Estate Development Co., Ltd. (note (i))

Joint venture of the Group

中山市民森房地產發展有限公司

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

69

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

37 Related party transactions (Continued)

(a) Name and relationship with related parties (Continued)

Name

Relationship

Changzhou Yafeng Green Construction Technology

Joint venture of the Group

Co., Ltd. (note (i))

常州雅豐綠色建築科技有限公司

Chenzhou Agile Real Estate Development Co., Ltd. (note (i))

Joint venture of the Group

郴州雅居樂房地產開發有限公司

Chongqing Jinbi Agile Real Estate Development

Joint venture of the Group

Co., Ltd. (note (i))

重慶金碧雅居房地產開發有限公司

Chongqing Huayu Yefeng Enterprise Development

Joint venture of the Group

Co., Ltd. (note (i))

重慶華宇業豐實業有限公司

Guangzhou Hongsheng Hengju Investment Partnership

Joint venture of the Group

Enterprises (Limited Partnership) (note (i))

廣州鴻晟恒鉅投資合夥企業(有限合夥)

Guangzhou Baiquan Construction Engineering

Joint venture of the Group

Co., Ltd. (note (i))

廣州佰全建築工程有限公司

Huizhou Huiyang Agile Real Estate Development

Joint venture of the Group

Co., Ltd. (note (i))

惠州市惠陽雅居樂房地產開發有限公司

Kaifeng Fenghui Land Co., Ltd. (note (i))

Joint venture of the Group

開封豐輝置業有限公司

Shenyang Agile Enterprise Management Consultation

Joint venture of the Group

Co., Ltd. (note (i))

沈陽雅居樂企業管理諮詢有限公司

Shenyang Yasong Real Estate Development Co., Ltd. (note (i))

Joint venture of the Group

沈陽雅頌房地產開發有限公司

Suzhou Meiju Real Estate Development Co., Ltd. (note (i))

Joint venture of the Group

蘇州美居房地產開發有限公司

Tianjin Ruiya Real Estate Development Co., Ltd. (note (i))

Joint venture of the Group

天津瑞雅房地產開發有限公司

Weihai Yalan Investment Development Co., Ltd. (note (i))

Joint venture of the Group

威海雅藍投資開發有限公司

70 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

37 Related party transactions (Continued)

(a) Name and relationship with related parties (Continued)

Name

Relationship

Wuhu Yaxu Real Estate Development Co., Ltd. (note (i))

Joint venture of the Group

蕪湖雅旭房地產開發有限公司

Xi'an Agile Enterprise Development Co., Ltd. (note (i))

Joint venture of the Group

西安雅居樂實業發展有限公司

Xuzhou Jiale Real Estate Development Co., Ltd. (note (i))

Joint venture of the Group

徐州佳樂房地產開發有限公司

Xingyang Yaheng Land Co., Ltd. (note (i))

Joint venture of the Group

滎陽市雅恒置業有限公司

Beihai Yaguang Real Estate Development Co., Ltd. (note (i))

Joint venture of the Group

北海雅廣房地產開發有限公司

Beihai Yazheng Real Estate Development Co., Ltd. (note (i))

Joint venture of the Group

北海雅正房地產開發有限公司

Changzhou Jiahong Nancheng Real Estate Co., Ltd. (note (i))

Joint venture of the Group

常州嘉宏南城置業發展有限公司

Ferris Mind Limited

Joint venture of the Group

Guangzhou Zhenmei Construction Design Co., Ltd. (note (i))

Joint venture of the Group

廣州臻美建築設計有限公司

Guangzhou Zhixin Engineering Cost Consultancy

Joint venture of the Group

Co., Ltd. (note (i))

廣州至信工程造價諮詢有限公司

Haimen Xinya Real Estate Development Co., Ltd. (note (i))

Joint venture of the Group

海門市信雅房地產開發有限公司

Henry Fischer Real Estate Co., Limited

Joint venture of the Group

亨利世家置業有限公司

Huizhou Bailuhu Tour Enterprise Development

Joint venture of the Group

Co., Ltd. (note (i))

惠州白鷺湖旅遊實業開發有限公司

Huizhou Yachuang Real Estate Development

Joint venture of the Group

Co., Ltd. (note (i))

惠州市雅創房地產開發有限公司

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

71

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

37 Related party transactions (Continued)

(a) Name and relationship with related parties (Continued)

Name

Relationship

Nanjing Qiya Land Co., Ltd. (note (i))

Joint venture of the Group

南京奇雅置業有限公司

Qidong Yahong Real Estate Development Co., Ltd. (note (i))

Joint venture of the Group

啟東市雅宏房地產開發有限公司

Tongxiang Anyue Land Co., Ltd. (note (i))

Joint venture of the Group

桐鄉市安悅置業有限公司

Zhuhai Yahan Real Estate Development Co., Ltd. (note (i))

Joint venture of the Group

珠海市雅瀚房地產開發有限公司

Zhuhai Yahao Real Estate Development Co., Ltd. (note (i))

Joint venture of the Group

珠海市雅灝房地產開發有限公司

Beautiful Development Limited

Controlled by a key management

錦繡前程有限公司

personnel of the Group

Gongqingcheng Investment (note (i))

Controlled by a key management

共青城投資

personnel of the Group

Note:

    1. The names of the companies represent management's best efforts at translating the Chinese names of these companies as no English names have been registered or available.
  2. Transactions with related parties
    1. For the six months ended 30 June 2020 and 2019, the Group had the following significant transactions

with related parties, which are carried out in the normal course of the Group's business:

Six months ended 30 June

2019

2020

(unaudited)

(unaudited)

Office service fee charged by Atlas (China) (note a)

83,995

7,523

Golf facilities service fees charged by Zhongshan

Changjiang Golf Course (note a)

6,040

5,673

Restaurant and hotel service fees charged by Zhongshan

Agile Changjiang Hotel Co., Ltd. (note a)

1,154

780

91,189

13,976

72 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

37 Related party transactions (Continued)

  1. Transactions with related parties (Continued)
    1. For the six months ended 30 June 2020 and 2019, the Group had the following significant transactions with related parties, which are carried out in the normal course of the Group's business: (Continued)

Six months ended 30 June

2019

2020

(unaudited)

(unaudited)

Rental income from Atlas (China)

24,134

6,748

Six months ended 30 June

2019

2020

(unaudited)

(unaudited)

Loan to related parties

- Joint ventures

448,883

270,417

- Associates

14,700

43,047

463,583

313,464

Six months ended 30 June

2019

2020

(unaudited)

(unaudited)

Repayment of loans to related parties

- Joint ventures

345,971

831,059

- Associates

286,866

272,138

632,837

1,103,197

Six months ended 30 June

2019

2020

(unaudited)

(unaudited)

Interest income from (note b)

- Joint ventures

152,988

107,032

- Associates

31,928

37,039

184,916

144,071

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

73

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

37 Related party transactions (Continued)

  1. Transactions with related parties (Continued)
    1. For the six months ended 30 June 2020 and 2019, the Group had the following significant transactions with related parties, which are carried out in the normal course of the Group's business: (Continued)

Six months ended 30 June

2019

2020

(unaudited)

(unaudited)

Provision of construction services to

- Joint ventures

547,822

267,036

- Associates

59,406

26,339

607,228

293,375

Notes:

    1. Office service fee, golf facilities service fees, restaurant and hotel service fees and rental fees were charged in accordance with the terms of the underlying agreements which, in the opinion of the directors, were determined with reference to the market price at the prescribed year. In the opinion of the directors of the Company, the above related party transactions were carried out in the normal course of business and at terms mutually negotiated between the Group and the respective related parties.
    2. Interest income were charged in accordance with the terms of the loan contracts.
  2. The Group have provided guarantees for borrowings of certain joint ventures and associates of RMB6,341,820,000 as at 30 June 2020 (31 December 2019: RMB6,927,619,000).
  3. Key management compensation
    Key management includes directors and heads of major operational departments. Key management compensation amounted to RMB14,328,000 for the six months ended 30 June 2020 (for the six months ended 30 June 2019: RMB12,649,000).

74 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

37 Related party transactions (Continued)

  1. Balances with related parties
    1. As at 30 June 2020 and 31 December 2019, the Group had the following significant non-trade balances with related parties:

30 June

31 December

2020

2019

(unaudited)

(audited)

Receivables due from (note a)

- Joint ventures

11,722,191

10,341,884

- Associates

4,056,489

1,326,119

- Other related parties

476,894

193,728

16,255,574

11,861,731

Loan and interest receivables due from (note b)

- Joint ventures

1,669,496

1,751,474

- Associates

1,208,719

1,480,885

2,878,215

3,232,359

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

75

Notes to the Interim Financial Information (continued)

(All amounts in RMB thousands unless otherwise stated)

37 Related party transactions (Continued)

  1. Balances with related parties (Continued)
    1. As at 30 June 2020 and 31 December 2019, the Group had the following significant non-trade balances with related parties: (Continued)

30 June

31 December

2020

2019

(unaudited)

(audited)

Payables due to (note a)

- Joint ventures

10,296,895

7,778,832

- Associates

1,515,504

314,038

- Other related parties

103,110

100,584

11,915,509

8,193,454

Contract liabilities

- Joint ventures

44,441

43,513

- Associates

2,163

581

- Zhongshan Changjiang Golf Course

10

-

46,614

44,094

Notes:

  1. The balances are cash advances in nature, which are unsecured and interest free.
  2. The balances are loan receivables and interest from associates and joint ventures, which are unsecured and interest bearing. The effective interest rate ranges from 4.35% to 15% per annum.

38 Events after the Balance Sheet Date

  1. The Company proposed an issuance of senior notes and entered into the purchase agreement with its purchasers in June 2020. The senior notes would be issued at 5.75% due 2025 with an aggregate nominal value of US$500,000,000 (equivalent to approximately RMB3,531,900,000) at face value. The Company has successfully issued and received net proceeds, deducting the issuance costs, of approximately US$497,000,000 (equivalent to approximately RMB3,511,870,000) on 3 July 2020.
  2. On 10 July 2020, a PRC subsidiary of the Company issued 6.2% corporate bonds with an aggregate amount of RMB1,500,000,000. The net proceeds, after deducting issuance costs, amounted to RMB1,495,500,000. The bonds will mature on 13 July 2022.

76 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Corporate Governance

With reference to international practices and Corporate Governance Code and Corporate Governance Report (the "CG Code") as set out in Appendix 14 of the Rules Governing the Listing of Securities on Hong Kong Stock Exchange (the "Listing Rules"), the Board has adopted its own corporate governance policy which gives guidance on how corporate governance principles are applied in the Company.

The Board currently comprises 12 members, with 4 executive directors, 4 non-executive directors and 4 independent non-executive directors. Each of the independent non-executive directors either possesses professional qualifications or experiences in various areas of accounting, financial services, structural and civil engineering, securities and investment industries. The Board holds at least 4 physical board meetings every year. The Board will review the corporate governance practices of the Group from time to time with an aim to meet international best practices.

The Company has been reporting the business performance and latest development of the Group to its shareholders and investors through various channels and platforms and a briefing on the businesses of the Company and the question and answer session are available in the annual general meeting allowing our shareholders to have a better understanding of the Group's strategies and goals.

Review of Interim Results

The Company's audit committee has, in the presence of the management of the Group, reviewed the unaudited interim results of the Group for the six months ended 30 June 2020 and the accounting principles and practices adopted by the Group and discussed with them the internal controls and financial reporting matters.

The interim results of the Group for the six months ended 30 June 2020 has not been audited but has been reviewed by PricewaterhouseCoopers, the auditor of the Company, in accordance with Hong Kong Standard on Review Engagements 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Hong Kong Institute of Certified Public Accountants.

Compliance with the Model Code for Securities Transactions by Directors

The Company has adopted its own code for securities transactions by directors ("Securities Dealing Code for Directors"), which is on terms no less exacting than the required standard as set out in the Model Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix 10 to the Listing Rules (the "Model Code"). In response to enquiries made, all directors confirmed that they have complied with the Securities Dealing Code for Directors during the six months ended 30 June 2020.

Compliance with the CG Code

During the six months ended 30 June 2020, the Company has complied with all code provisions of the CG Code except for the deviation as specified with considered reasons below.

The code provision A.2.1 of the CG Code requires that the roles of chairman and chief executive should be separate and should not be performed by the same individual. However, in view of the present composition of the Board, Chen Zhuo Lin's in-depth knowledge of the operations of the Group and of the industry, his extensive business network and connections in the sector and the scope of operations of the Group, the Board believes that Chen Zhuo Lin, in his dual capacity as the Chairman of the Board and President, will provide strong and consistent leadership for the development of the Group. The Board also believes that this structure is in the best interest of the Company and will not impair the balance of power and authority of the Board and such arrangement will be subject to review from time to time.

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

77

Other Information

Share Award Scheme

The Company has adopted a share award scheme (the "Scheme") on 10 December 2013, and issued and allotted a total of 34,470,000 awarded shares to Bank of Communications Trustee Limited as trustee on 10 February 2014 to hold on trust for such employee(s) selected by the Board ("Selected Employees") in accordance with the trust deed and rules of the Scheme. These awarded shares will be transferred to such Selected Employees upon their satisfaction of relevant vesting conditions specified by the Board at the time of the grant. 32,750,000 out of 34,470,000 awarded shares ("Awarded Shares") were granted to certain Selected Employees. Following the confirmation that relevant vesting conditions have not been satisfied, all such 32,750,000 Awarded Shares have lapsed.

Directors' Interests and Short Positions in Shares, Underlying Shares and Debentures

As at 30 June 2020, the interests or short positions of the directors and chief executives of the Company in the shares, underlying shares and debentures of the Company and any of its associated corporations (within the meaning of Part XV of Securities and Futures Ordinance ("SFO")) which (i) were notified to the Company and Hong Kong Stock Exchange pursuant to Divisions 7 and 8 of Part XV of SFO (including interests or short positions which were taken or deemed to have under such provisions of SFO); or (ii) were recorded in the register required to be kept by the Company under Section 352 of SFO; or (iii) were required by the Model Code to be notified to the Company and Hong Kong Stock Exchange, were as follows:

  1. Long positions in shares of the Company

Shares held in the Company

Approximate

Total

percentage to

Capacity of

Number of

number of

issued

Name of director

interests held

shares

Note

shares

share capital

Chen Zhuo Lin

Beneficiary of a trust

2,453,096,250

1

2,597,944,500

66.32%

Beneficial owner

88,274,000

Controlled corporation

14,276,250

2

Controlled corporation

42,298,000

3

Chan Cheuk Yin

Beneficiary of a trust

2,453,096,250

1

2,468,783,750

63.03%

Controlled corporation

15,687,500

4

Luk Sin Fong, Fion

Beneficiary of a trust

2,453,096,250

1

2,597,944,500

66.32%

Controlled corporation

14,276,250

2

Spouse

130,572,000

5

Chan Cheuk Hung

Beneficiary of a trust

2,453,096,250

1

2,453,096,250

62.63%

Chan Cheuk Hei

Beneficiary of a trust

2,453,096,250

1

2,460,971,250

62.83%

Beneficial owner

7,875,000

6

78 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Other Information (continued)

Shares held in the Company

Approximate

Total

percentage to

Capacity of

Number of

number of

issued

Name of director

interests held

shares

Note

shares

share capital

Chan Cheuk Nam

Beneficiary of a trust

2,453,096,250

1

2,459,877,750

62.80%

Beneficial owner

6,781,500

7

Huang Fengchao

Beneficial owner

1,400,000

1,400,000

0.04%

Notes:

    1. Held by Full Choice Investments Limited ("Full Choice") as trustee through Top Coast Investment Limited ("Top Coast").
    2. Held by Brilliant Hero Capital Limited (暉雄資本有限公司) and Famous Tone Investments Limited (名通投資有限公司), which are jointly controlled by Chen Zhuo Lin and Luk Sin Fong, Fion.
    3. Held by Dragon Treasure Global Limited (龍寶環球有限公司), Star Noble Global Limited (星御環球有限公司) and Supreme Elite Holdings Limited (優傑控股有限公司), which are wholly-owned by Chen Zhuo Lin.
    4. Held by Renowned Idea Investments Limited (明思投資有限公司), which is wholly-owned by Chan Cheuk Yin.
    5. By virtue of SFO, Luk Sin Fong, Fion is deemed to be interested in the shares (1) held by her spouse, Chen Zhuo Lin as beneficial owner, and (2) held by Dragon Treasure Global Limited (龍寶環球有限公司), Star Noble Global Limited (星御環球有限公司) and Supreme Elite Holdings Limited (優傑控股有限公司), which are wholly-owned by Chen Zhuo Lin.
    6. Jointly held by Chan Cheuk Hei and his spouse Lu Yanping.
    7. Jointly held by Chan Cheuk Nam and his spouse Chan Siu Na.
  2. Long positions in the shares of associated corporations of the Company
  1. Top Coast

Approximate

percentage to

Capacity of

Number of

Description of

issued

Name of director

interests held

shares

shares

share capital

Chen Zhuo Lin

Controlled corporation

2 (Note)

Ordinary

100%

Chan Cheuk Yin

Controlled corporation

2 (Note)

Ordinary

100%

Note: By virtue of the SFO, Chen Zhuo Lin and Chan Cheuk Yin are deemed to be interested in 2 ordinary shares in Top Coast, representing 100% of the then issued voting shares, in Top Coast, a company wholly-owned by Full Choice which in turn owned as to 50% by Chen Zhuo Lin and Chan Cheuk Yin respectively.

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

79

Other Information (continued)

B.

A-Living

Approximate

percentage to

issued share

Approximate

capital of

percentage to

Capacity of

Number of

Description of

unlisted

issued

Name of director

interests held

shares

shares

shares

share capital

Chen Zhuo Lin

Beneficiary of a trust

720,000,000

(Note 1)

Unlisted

80.00%

54.00%

Chan Cheuk Yin

Beneficiary of a trust

720,000,000

(Note 1)

Unlisted

80.00%

54.00%

Luk Sin Fong, Fion

Beneficiary of a trust

720,000,000

(Note 1)

Unlisted

80.00%

54.00%

Chan Cheuk Hung

Beneficiary of a trust

720,000,000

(Note 1)

Unlisted

80.00%

54.00%

Chan Cheuk Hei

Beneficiary of a trust

720,000,000

(Note 1)

Unlisted

80.00%

54.00%

Chan Cheuk Nam

Beneficiary of a trust

720,000,000

(Note 1)

Unlisted

80.00%

54.00%

Huang Fengchao

Controlled corporation

80,000,000

(Note 2)

Unlisted

8.89%

6.00%

Notes:

  1. The Company holds, through its indirect wholly-owned subsidiaries, Zhongshan A-Living Enterprise Management Services Co., Ltd.^ (中山雅生活企業管理服務有限公司) and Deluxe Star International Limited (旺紀國際有限公司), 720,000,000 unlisted shares in A-Living, and Full Choice holds, through Top Coast, 62.63% equity interests of the Company, as trustee of the Chen's Family Trust, beneficiaries of which are Chen Zhuo Lin, Chan Cheuk Yin, Luk Sin Fong, Fion, Chan Cheuk Hung, Chan Cheuk Hei and Chan Cheuk Nam. By virtue of the SFO, Chen Zhuo Lin, Chan Cheuk Yin, Luk Sin Fong, Fion, Chan Cheuk Hung, Chan Cheuk Hei and Chan Cheuk Nam are deemed to be interested in 720,000,000 unlisted shares in A-Living.
  2. Huang Fengchao is a limited partner of Gongqingcheng A-Living Investment Management Limited Partnership^ (共青城雅生活投資管 理合夥企業（有限合夥）) (a holder of 80,000,000 unlisted shares in A-Living), in which 49.9% of interests is owned by him.

Save as disclosed above, as at 30 June 2020, none of the directors and chief executives of the Company had any interests or short positions in the shares, underlying shares and debentures of the Company or any of its associated corporations (within the meaning of Part XV of SFO) which (i) were notified to the Company and Hong Kong Stock Exchange pursuant to Divisions 7 and 8 of Part XV of SFO (including interests or short positions which were taken or deemed to have under such provisions of SFO); or (ii) were recorded in the register required to be kept by the Company under Section 352 of SFO; or (iii) were required by the Model Code to be notified to the Company and Hong Kong Stock Exchange.

80 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Other Information (continued)

Substantial Shareholders' Interests and Short Positions

To the best knowledge of the directors or chief executives of the Company, as at 30 June 2020, the interests or short positions of substantial shareholders (other than the directors or the chief executives of the Company) in the shares or underlying shares of the Company which (i) were disclosed to the Company under the provisions of Divisions 2 and 3 of Part XV of SFO or (ii) were recorded in the register required to be kept by the Company under Section 336 of SFO, were as follows:

Long positions in shares of the Company

Shares held in the Company

Approximate

Total

percentage to

Capacity of

Number of

number of

issued

Name of shareholder

interests held

shares

Note

shares

share capital

Full Choice

Trustee

2,453,096,250

1

2,453,096,250

62.63%

Top Coast

Beneficial owner

2,453,096,250

1

2,453,096,250

62.63%

Zheng Huiqiong

Spouse

2,468,783,750

2

2,468,783,750

63.03%

Lu Liqing

Spouse

2,453,096,250

3

2,453,096,250

62.63%

Lu Yanping

Beneficial owner

7,875,000

4

2,460,971,250

62.83%

Spouse

2,453,096,250

5

Chan Siu Na

Beneficial owner

6,781,500

6

2,459,877,750

62.80%

Spouse

2,453,096,250

7

Chen Sze Long

Beneficial owner

307,432,500

307,432,500

7.85%

Wang Huizhao

Spouse

307,432,500

8

307,432,500

7.85%

Notes:

  1. Full Choice holds, through Top Coast, the shares as the trustee of the Chen's Family Trust. Beneficiaries of which are Chen Zhuo Lin, Chan Cheuk Yin, Luk Sin Fong, Fion, Chan Cheuk Hung, Chan Cheuk Hei and Chan Cheuk Nam.
  2. By virtue of SFO, Zheng Huiqiong is deemed to be interested in the shares held by her spouse, Chan Cheuk Yin.
  3. By virtue of SFO, Lu Liqing is deemed to be interested in the shares held by her spouse, Chan Cheuk Hung.
  4. Jointly held by Lu Yanping and her spouse Chan Cheuk Hei.
  5. By virtue of SFO, Lu Yanping is deemed to be interested in the shares held by her spouse, Chan Cheuk Hei.
  6. Jointly held by Chan Siu Na and her spouse Chan Cheuk Nam.
  7. By virtue of SFO, Chan Siu Na is deemed to be interested in the shares held by her spouse, Chan Cheuk Nam.
  8. By virtue of SFO, Wang Huizhao is deemed to be interested in the shares held by her spouse, Chen Sze Long.

Save as disclosed above, as at 30 June 2020, none of the substantial shareholders (other than directors or chief executives of the Company) had informed to the Company that they had any interests or short positions in the shares which (i) shall be disclosed to the Company under the provisions of Divisions 2 and 3 of Part XV of SFO or (ii) shall be recorded in the register required to be kept by the Company under Section 336 of SFO.

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

81

Other Information (continued)

Interests of Any Other Persons

Save as disclosed in the foregoing, as at 30 June 2020, none of any other persons had informed the Company that they had any interests or short positions in the shares which (i) shall be disclosed to the Company under the provisions of Divisions 2 and 3 of Part XV of SFO or (ii) shall be recorded in the register required to be kept by the Company under Section 336 of SFO.

Purchase, Sale or Redemption of Listed Securities

On 21 May 2020, the Company redeemed all its outstanding 9.0% senior notes due 2020 in an aggregate principal amount of US$500 million at the redemption price equal to 100% of the principal amount plus accrued and unpaid interest.

Save as disclosed above, during the six months ended 30 June 2020, neither the Company nor any of its subsidiaries purchased, sold or redeemed any of the Company's listed securities.

Changes in Information of Directors

Pursuant to Rule 13.51B of the Listing Rules, the change in information of directors of the Company subsequent to the date of the 2019 Annual Report is set out below:

  • Huang Fengchao was appointed as the chairperson of nomination committee and ceased to be the chief executive officer and general manager of A-Living (stock code: 3319) on 21 July 2020.
  • Kwong Che Keung, Gordon retired as an independent non-executive director of Global Digital Creations Holdings Limited (stock code: 8271) on 22 May 2020 and was appointed as an independent non-executive director of COSCO SHIPPING International (Hong Kong) Co., Ltd. (stock code: 517) on 9 July 2020.

Specific Performance by the Controlling Shareholders

  1. As disclosed in the Company's announcement dated 23 June 2016, the Company as borrower with a bank as lender entered into a facility letter ("2016 Facility"). Pursuant to which a term loan facility in the amount of HK$780 million has been granted to the Company for a period of 36 months. The facility was fully repaid on 24 June 2019.
  2. As disclosed in the Company's announcement dated 2 June 2017, the Company as borrower and certain of its subsidiaries as guarantors with Standard Chartered Bank (Hong Kong) Limited ("SCB") as original lender, facility agent and security agent entered into a facility agreement ("2017 Facility I"). Pursuant to which a term loan facility in the amount of HK$624 million has been granted to the Company for a term of 36 months. The facility was fully repaid on 2 June 2020.
  3. As disclosed in the Company's announcement dated 17 July 2017, the Company as borrower and certain of its subsidiaries as guarantors with SCB as original lender, mandated lead arranger and bookrunner, and facility agent and security agent entered into a facility agreement ("2017 Facility II"). Pursuant to which a term loan facility in the amount of HK$3,519 million has been granted to the Company for a term of 36 months. The facility was fully repaid on 17 July 2020.
  4. As disclosed in the Company's announcement dated 14 November 2017, the Company as borrower and certain of its subsidiaries as guarantors entered into a facility agreement with certain financial institutions ("2017 Facility III"). Pursuant to which a term loan facility of HK$1,170 million has been granted to the Company for a term of 36 months.
  5. As disclosed in the Company's announcement dated 24 November 2017, the Company as borrower and certain of its subsidiaries as guarantors entered into a facility agreement with a bank as lender ("2017 Facility IV"). Pursuant to which a term loan facility of HK$300 million has been granted to the Company for a term of 36 months.
  6. As disclosed in the Company's announcement dated 19 December 2017, the Company as borrower and certain of its subsidiaries as guarantors entered into a facility agreement with a bank as lender ("2017 Facility V"). Pursuant to which a term loan facility of HK$400 million has been granted to the Company for a term of 36 months.

82 AGILE GROUP HOLDINGS LIMITED INTERIM REPORT 2020

Other Information (continued)

  1. As disclosed in the Company's announcement dated 21 May 2018, the Company as borrower and certain of its subsidiaries as original guarantors with a bank as facility agent and security agent and certain financial institutions entered into a facility agreement ("2018 Facility I"). Pursuant to which a term loan facility comprising two tranches of HK$8,834 million (with a greenshoe option of HK$2,500 million) and USD200 million has been granted to the Company for a term of 48 months.
  2. As disclosed in the Company's announcement dated 12 December 2018, the Company as borrower and certain of its subsidiaries as original guarantors with a bank as facility agent and security agent and certain financial institutions as original lenders entered into a facility agreement ("2018 Facility II"). Pursuant to which a term loan facility of HK$770 million (or its United States Dollars equivalent) has been granted to the Company for a term of 36 months.
  3. As disclosed in the Company's announcement dated 27 June 2019, the Company as borrower and one of its subsidiaries as guarantor with a bank as agent and original lender entered into a facility agreement ("2019 Facility I"). Pursuant to which a term loan facility of MOP1,854 million (or its Hong Kong Dollars equivalent) has been granted to the Company for a term of 24 months. As disclosed in the Company's announcement dated 24 June 2020, pursuant to an amendment deed entered into between the same parties above, the term of tranche B loan of MOP824 million being part of MOP1,854 million facility has been extended until 29 June 2022 while the term of its tranche A loan of MOP1,030 million will remain unchanged at 24 months.
  4. As disclosed in the Company's announcement dated 28 August 2019, the Company as borrower and certain of its subsidiaries as guarantors with certain financial institutions with one of them acting as facility agent and security agent entered into a facility agreement ("2019 Facility II"). Pursuant to which a term loan facility comprising two tranches of HKD1,170 million and USD100 million (with a greenshoe option of USD500 million or its Hong Kong Dollars equivalent) has been granted to the Company for a term of 36 months.
  5. As disclosed in the Company's announcement dated 24 June 2020, the Company as borrower and certain of its subsidiaries as guarantors with certain financial institutions with one of them acting as facility agent and security agent entered into a facility agreement ("2020 Facility"). Pursuant to which a term loan facility comprising an initial tranche of HKD3,242 million (with a greenshoe option of USD600 million or its Hong Kong Dollars equivalent) has been granted to the Company for a term of 36 months.

In connection with the aforesaid facilities, if (i) Chen Zhuo Lin, Chan Cheuk Yin, Luk Sin Fong, Fion, Chan Cheuk Hung, Chan Cheuk Hei and Chan Cheuk Nam (hereinafter collectively the "Controlling Shareholders") collectively, directly or indirectly, do not own more than 50% of the total issued share capital of the Company; and/or (ii) the Controlling Shareholders together do not or cease to be entitled to exercise management control of the Company (only for 2017 Facility II, 2017 Facility III, 2017 Facility IV, 2017 Facility V, 2018 Facility I, 2018 Facility II, 2019 Facility II and 2020 Facility); and/or (iii) Chen Zhuo Lin is not or ceases to be the chairperson of the Board will constitute an event of default. In case of an occurrence of an event of default, if directed by the facility agent (only for 2017 Facility I, 2017 Facility II, 2017 Facility III, 2018 Facility I, 2018 Facility II, 2019 Facility II and 2020 Facility)/the lender (only for 2016 Facility, 2017 Facility IV and 2017 Facility V)/the agent (only for 2019 Facility I) may by notice to the Company (a) cancel the commitments; (b) declare that all or part of the loans, together with accrued interest, and all other amounts accrued or outstanding under the finance documents be immediately due and payable; (c) declare that all or part of the loans be payable on demand; and/or (d) exercise (only for 2017 Facility IV and 2017 Facility V)/exercise or direct the security agent to exercise (only for 2017 Facility I, 2017 Facility II, 2017 Facility III, 2018 Facility I, 2018 Facility II, 2019 Facility II and 2020 Facility) all or any of its rights, remedies, powers or discretions under the finance documents and other ancillary documents.

Interim Dividend

The Board has declared an interim dividend of HK50.0 cents (2019: HK60.0 cents) per ordinary share payable in cash to shareholders of the Company. Interim dividend will be payable on or about Friday, 18 September 2020 to the shareholders whose names appear on the register of members of the Company on Thursday, 10 September 2020.

Closure of Register of Members

The Company's register of members will be closed from Tuesday, 8 September 2020 to Thursday, 10 September 2020 (both dates inclusive), during such period no transfer of shares will be effected. To qualify for the interim dividend, all properly completed transfer forms accompanied by the relevant share certificates must be lodged with the Company's branch share registrar and transfer office in Hong Kong, Tricor Investor Services Limited, at Level 54, Hopewell Centre, 183 Queen's Road East, Hong Kong for registration not later than 4:30 pm on Monday, 7 September 2020.

  • for identification purposes only

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

83

Bank Table

地儲備一覽表

June 2020 / 於2020年6月30日 )

cities and districts

個城市及地 區

Tota l l and ba n k

總土地儲備

million sq. m

jiaz h u a ng

瀋 陽 She nyan g

京 B e iji n g

天 津 Tia nji n

百萬 平方 米

中

J inzho ng

邯 鄲 H a

開 封

渭南 Weinan

西 安

成 都 Ch engd

重 慶 Ch

大理 Dali

騰 沖 Tengc h ong

瑞 麗 R u il i

昆明

鄭 州 Z h engz h o u

商

許 昌 Xu

襄陽 Xi

武

ngz ho u

長 沙 C ha

郴 州 C he

u

jiang

g

西 雙 版 納 Xishuan g ban na

海 口 H a ikou

臨 高 Li ngao

文 昌 Wen c han g

萬 寧 Wanning

Overseas Proj ect

陵 水 Li ngshu i

海外項目

Southern Ch i na Region

H a i na n Region

華 南 區 域

海南區 域

Eastern Ch ina Region

N orth east Ch i na Region

華 東 區 域

東北 區 域

Western Ch na Reg ion

N orth ern Ch ina Reg ion

寨金邊

西部 區 域

華北 區 域

h , Ca mbod ia

美國三藩市

Centra l Ch na Region

H ong Kong

Sann Francisco USA

華 中 區 域

香港

Yu n nan Region

Overseas

雲南區 域

海外

84 雅居樂集團控股有限公司 2020中期報告

常 熟

Changsh u

常 州

C ha ngz h o u

滁 州

C hu z ho u

福 州

Fuzh o u

杭 州

H angz ho u

合 肥

Hefei

湖 州

H u zh o u

嘉 興

J axing

濟 南 Jinan

句 容

Juro n g

崑山

Ku ns han

連 雲 港 Lia nyunga ng

溧 陽

Liya ng

南 京

N anji n g

南 通

N anton g

啓 東 Qi dong

上 海

Shanghai

蘇 州

Su zh o u

泰興

Taixing

威 海

Weihai

蕪 湖

Wuh u

無 錫

Wuxi

廈 門

Xiamen

徐 州

Xuzh o u

揚 州

Yan gz ho u

宜興

Yixing

漳州 Zhangzho u 鎮 江 Zhenjian g

北海 Beihai 佛 山 Fosh a n 廣 州 Gua ngz h o u 河 源 Heyua n 惠 州 H u izho u 江 門 J iangmen 揭 陽 Jieyang 茂名 Maom i ng 梅 州 M e izho u 南 寧 N an ni ng 清遠 Q ngyua n 汕 頭 Shanto u 汕 尾 Shanwei 雲 浮 Yunfu

湛 江 Zha njia ng 肇 慶 Zhaoqing 中 山 Zhon gsh a n 珠 海 Zhu h a i

Province 省份

No. of

Total Planned GFA

Lank Bank

Projects

of the Projects (sq. m.)

(sq. m.)

項目數 目

項目預計總建築面積 （平方米）

土地儲備 （平方米）

安徽 Anhui

4

1,1 78,454

703,965

北京 Beijing

2

145,252

145,252

重慶

Chongqing

7

1,770,404

1,249,809

福建

Fujian

6

1,493,270

1,449,768

廣東

Guangdong

63

34,212,834

15,639,445

廣西

Guangxi

2

1,1 72,935

990,629

海南

Hainan

6

9,758,807

4,600,021

河北

Hebei

2

197,036

197,036

河南

Henan

12

3,1 63,572

2,814,082

湖北

Hubei

4

1,656,51 5

1,398,623

湖南

Hunan

4

1,624,753

982,280

江蘇

Jiangsu

35

8,275,831

5,006,785

江西

Jiangxi

1

287,360

287,360

遼寧

Liaoning

2

1,1 63,032

389,11 8

陝西

Shaanxi

5

2,773,985

2,134,602

山東

Shandong

4

3,054,132

2,995,386

上海

Shanghai

5

834,91 8

834,91 8

山西

Shanxi

2

615,404

615,404

四川

Sichuan

6

2,5 12,853

926,280

天津

Tianjin

5

5,492,609

3,635,304

雲南

Yunnan

6

7,022,71 1

5,088,910

浙江

Zhejiang

6

948,547

535,982

香港

Hong Kong

1

6,52 5

6,525

海外

Overseas

5

531 ,548

399,073

總計 Total

195

89,893,286

53,026,558

Region 區域

No. of

Total Planned GFA

Lank Bank

Projects

of the Projects (sq. m.)

(sq. m.)

項目數 目

項目預計總建築面積 （平方米

土地儲備 （平方米）

Southern China Region

65

35,385,769

11,630,074

華南區域

Eastern China Region

60

15,785,152

11,526,804

華東區域

Western China Region

18

7,057,242

4,310,691

西部區域

Central China Region

21

6,732,199

5,482,345

華中區域

Hainan Region

6

9,758,807

4,600,021

海南區域

Yunnan Region

6

7,022,711

5,088,910

雲南區域

North east Ch i na R eg o n

2

1,1 63,032

389,118

東北區域

Northern China Region

11

6,450,300

4,592,996

華北區域

Hong Kong

1

6,525

6,525

香港

Overseas

5

531 ,548

399,073

海外

總計 Total

195

89,893,286

53,026,558

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

85

Land Bank Table

土地儲備一覽表

(As at 30 June 2020 / 於2020年6月30日)

Land Bank (sq.m.) (Note 1)

土地儲備（平方米（）註1）

Total

Total

Development Stage 發展階段 (B)

Planning Nature 規劃性質 (C)

Interests

Total Site

Planned

Planned GFA

Held for

Attributable

Area of the

GFA of the

(A)

Future

Residential &

Commercial

to the Group

Project

Project

(sq.m.)

Under

Development

Ancillary

& Office

(Note 3)

(sq.m.)

(sq.m.)

預計

Completed

Development

(B3)

Facilities

Hotel

(C3)

本集團

項目佔地

項目預計

總建築面積

(B1)

(B2)

持作未來

(C1)

(C2)

商業及

No.

Project Name

City

應佔權益

總面積

總建築面積

(A)

已竣工

在建

發展

住宅及配套

酒店

辦公室

代號

項目名稱

城巿

（註3）

（平方米）

（平方米）

（平方米）

(B1)

(B2)

(B3)

(C1)

(C2)

(C3)

Southern China Region

華南區域

Guangzhou Asian Games City Project

Guangzhou

1

廣州亞運城項目

廣州

26.66%

2,640,000

4,380,000

2,358,157

-

1,964,943

393,214

2,319,669

38,488

-

Agile Mountain Guangzhou

Guangzhou

2

廣州雅居樂富春山居

廣州

100%

306,812

613,624

702

702

-

-

702

-

-

Agile Haizhu Xiaoya Guangzhou

Guangzhou

3

廣州雅居樂海珠小雅

廣州

100%

13,660

68,121

847

847

-

-

847

-

-

Guangzhou Liwan District Project

Guangzhou

4

廣州荔灣區項目

廣州

100%

21,908

91,656

91,656

-

91,656

-

91,656

-

-

Guangzhou Huadu District Project

Guangzhou

5

廣州花都區項目

廣州

100%

67,260

97,814

97,814

-

-

97,814

97,814

-

-

Guangzhou Conghua District Project

Guangzhou

6

廣州從化區項目

廣州

100%

30,148

86,848

86,848

-

-

86,848

86,848

-

-

Guangzhou Subtotal

廣州小計

3,079,788

5,338,063

2,636,025

1,549

2,056,599

577,876

2,597,537

38,488

-

La Cité Greenville Zhongshan

Zhongshan

7

中山凱茵新城

中山

100%

1,970,275

1,889,961

8,293

8,293

-

-

8,293

-

-

Metro Agile Zhongshan

Zhongshan

8

中山雅居樂新城

中山

100%

1,476,285

3,519,253

455,713

50,855

101,285

303,573

441,782

-

13,930

Royal Residence Zhongshan

Zhongshan

9

中山雍景園國際公寓

中山

100%

15,968

16,144

12,033

12,033

-

-

12,033

-

-

Zhongshan Minzhong Town Project

Zhongshan

10

中山民眾鎮項目

中山

100%

63,450

95,175

95,175

-

-

95,175

95,175

-

-

Agile Cambridgeshire Zhongshan

Zhongshan

11

中山雅居樂劍橋郡

中山

100%

375,357

1,444,668

384,056

10,127

75,922

298,006

86,050

29,801

268,205

Agile Royal Mount Zhongshan

Zhongshan

12

中山雅居樂御龍山

中山

100%

563,253

1,126,505

7,315

7,315

-

-

7,315

-

-

Zhongshan Kunlun Hotel Project

Zhongshan

13

中山崑崙酒店項目

中山

100%

29,267

87,801

87,570

-

-

87,570

-

13,697

73,873

Agile Coastal Pearl Zhongshan

Zhongshan

14

中山雅居樂山海郡

中山

100%

338,892

677,782

4,851

4,851

-

-

4,851

-

-

Zhongshan Haotousha Project

Zhongshan

15

中山濠頭沙項目

中山

100%

83,483

60,813

60,813

-

-

60,813

60,813

-

-

Agile River Pearl Zhongshan

Zhongshan

16

中山雅居樂江玥

中山

100%

27,868

69,316

4,439

4,439

-

-

4,439

-

-

Crescent Hill Center City Zhongshan

Zhongshan

17

中山畔山中心城

中山

50%

181,667

454,167

119,791

100,292

19,499

-

119,791

-

-

Zhongshan Dongcheng Lufeng Project

Zhongshan

18

中山東城麓峰項目

中山

50%

162,795

347,086

347,086

-

-

347,086

347,086

-

-

Mont Orchid Riverlet Zhongshan

Zhongshan

19

中山瀾溪泮島

中山

60%

131,863

395,588

225,084

131,738

93,346

-

225,084

-

-

Agile Diyin Lake Town Zhongshan

Zhongshan

20

中山雅居樂迪茵湖小鎮

中山

50%

478,955

823,803

683,915

1,656

35,374

646,886

683,915

-

-

Weilan Siji Zhongshan

Zhongshan

21

中山蔚藍四季

中山

50%

40,865

122,596

122,596

-

122,596

-

122,596

-

-

Zhongshan Bosheng Project

Zhongshan

22

中山鉑晟項目

中山

50%

45,016

118,564

118,564

-

118,564

-

118,564

-

-

The Leading World Zhongshan

Zhongshan

23

中山天樾樺府

中山

50%

35,993

71,986

28,866

28,866

-

-

28,866

-

-

Shenzhong One Zhongshan (Formerly known as

Zhongshan

Zhongshan Shenzhong Project)

24

中山深中壹號（前稱：中山深中項目）

中山

50%

180,718

451,795

451,795

-

-

451,795

451,795

-

-

Zhongshan Hehua Hotel Project

Zhongshan

25

中山和華酒店項目

中山

50%

64,536

129,072

129,072

-

-

129,072

129,072

-

-

Agile Starry Jade Zhongshan

Zhongshan

26

中山雅居樂星玥

中山

15%

47,097

117,742

117,742

-

117,742

-

117,742

-

-

Agile City of Lohas Zhongshan

Zhongshan

27

中山雅居樂錦城

中山

100%

69,808

154,987

154,987

-

154,987

-

154,987

-

-

Zhongshan Dongfeng Town Project

Zhongshan

28

中山東鳳鎮項目

中山

100%

669,960

1,490,400

1,490,400

-

-

1,490,400

1,490,400

-

-

Agile Garden Guzhen

(Formerly known as Zhongshan Ancient Town Project)

Zhongshan

29

古鎮雅居樂花園（前稱：中山古鎮項目）

中山

100%

26,799

80,398

80,398

-

80,398

-

80,398

-

-

Zhongshan Subtotal

中山小計

7,080,170

13,745,602

5,190,552

360,463

919,713

3,910,375

4,791,045

43,498

356,009

Agile International Garden Zhuhai

Zhuhai

30

珠海雅居樂國際花園

珠海

100%

83,997

206,494

206,494

-

191,737

14,757

206,494

-

-

Zhuhai Subtotal

珠海小計

83,997

206,494

206,494

-

191,737

14,757

206,494

-

-

Park Irisation Jiangmen

Jiangmen

31

江門公園天璟

江門

51%

44,033

110,083

60,872

14,513

46,359

-

60,872

-

-

Agile Honorable Mansion Jiangmen

(Formerly known as Jiangmen Xinhui District Project)

Jiangmen

32

江門雅居樂雍逸庭（前稱：江門新會區項目）

江門

51%

29,372

63,525

63,525

-

63,525

-

63,525

-

-

Agile Chairman Taishan

Jiangmen

33

台山雅居樂御賓府

江門

50%

29,257

73,142

73,142

47,867

25,275

-

73,142

-

-

86 雅居樂集團控股有限公司 2020中期報告

Land Bank (sq.m.) (Note 1)

土地儲備（平方米（）註1）

Total

Total

Development Stage 發展階段 (B)

Planning Nature 規劃性質 (C)

Interests

Total Site

Planned

Planned GFA

Held for

Attributable

Area of the

GFA of the

(A)

Future

Residential &

Commercial

to the Group

Project

Project

(sq.m.)

Under

Development

Ancillary

& Office

(Note 3)

(sq.m.)

(sq.m.)

預計

Completed

Development

(B3)

Facilities

Hotel

(C3)

本集團

項目佔地

項目預計

總建築面積

(B1)

(B2)

持作未來

(C1)

(C2)

商業及

No.

Project Name

City

應佔權益

總面積

總建築面積

(A)

已竣工

在建

發展

住宅及配套

酒店

辦公室

代號

項目名稱

城巿

（註3）

（平方米）

（平方米）

（平方米）

(B1)

(B2)

(B3)

(C1)

(C2)

(C3)

Agile Garden Taishan

Jiangmen

34

台山雅居樂花園

江門

100%

58,411

146,026

83,615

20,516

63,099

-

83,615

-

-

Taishan Taicheng District Project

Jiangmen

35

台山台城區項目

江門

100%

34,387

96,284

96,284

-

96,284

-

96,284

-

-

Jiangmen Subtotal

江門小計

195,460

489,060

377,438

82,895

294,542

-

377,438

-

-

Majestic Garden Nanhai

Foshan

36

南海雍景豪園

佛山

100%

601,230

859,757

11,455

11,455

-

-

11,455

-

-

Agile Personage Nanhai

Foshan

37

南海雅居樂御景豪庭

佛山

100%

44,786

143,315

611

611

-

-

611

-

-

Agile Sunday Nanhai

Foshan

38

南海雅居樂新地

佛山

100%

35,337

88,342

88,342

-

88,342

-

88,342

-

-

Agile Chairman Sanshui

Foshan

39

三水雅居樂三江府

佛山

50%

64,599

245,190

3,494

3,494

-

-

3,494

-

-

Pleasure Mansion Sanshui

Foshan

40

三水常樂府

佛山

33%

79,015

252,846

252,846

-

165,846

87,000

252,846

-

-

Qingyue Shunde

Foshan

41

順德清樾

佛山

40%

81,455

203,638

203,638

-

203,638

-

203,638

-

-

Agile Garden Shunde

Foshan

42

順德雅居樂花園

佛山

100%

212,410

488,500

1,529

1,529

-

-

1,529

-

-

Agile Mix City Shunde

Foshan

43

順德雅居樂萬象郡

佛山

100%

62,515

143,126

128,201

40,288

87,912

-

128,201

-

-

Agile Cambridgeshire Shunde

Foshan

44

順德雅居樂劍橋郡

佛山

50%

110,833

310,332

310,332

63,965

209,989

36,377

310,332

-

-

Emerald Park Foshan

Foshan

45

佛山翡翠西江

佛山

33%

81,136

243,407

243,407

-

243,407

-

243,407

-

-

Foshan Subtotal

佛山小計

1,373,315

2,978,453

1,243,853

121,341

999,134

123,377

1,243,853

-

-

Agile Egret Lake Huizhou

Huizhou

46

惠州雅居樂白鷺湖

惠州

85%

2,000,000

2,000,000

715,612

20,483

-

695,129

715,612

-

-

Agile Chairman Huizhou

Huizhou

47

惠州雅居樂御賓府

惠州

100%

30,192

66,420

233

233

-

-

233

-

-

Agile Lohas World Huizhou (Formerly known as

Huizhou Huicheng District Project A)

Huizhou

48(A)

惠州常樂府（前稱：惠州惠城區項目A）

惠州

49%

24,792

76,855

76,855

-

76,855

-

76,855

-

-

Violet Castle Huizhou (Formerly known as Huizhou Huicheng

District Project B)

Huizhou

48(B)

惠州春江紫宸（前稱：惠州惠城區項目B）

惠州

35%

88,844

222,110

222,110

-

222,110

-

222,110

-

-

Agile Garden Huiyang

Huizhou

49

惠陽雅居樂花園

惠州

66%

1,248,191

2,995,658

1,768,351

47,418

457,678

1,263,255

1,768,351

-

-

Agile Duhuiya County Huizhou (Formerly known as Huizhou

Light Rail Station Project)

Huizhou

50

惠州雅居樂都匯雅郡（前稱：惠州輕軌站項目）

惠州

70%

55,000

196,508

196,508

-

128,126

68,382

196,508

-

-

Huizhou Subtotal

惠州小計

3,447,019

5,557,551

2,979,670

68,135

884,769

2,026,766

2,979,670

-

-

Agile HK City Zhaoqing (Formerly known as

Zhaoqing New District Project)

Zhaoqing

51

肇慶雅居樂香港城（前稱：肇慶新區項目）

肇慶

100%

178,324

460,687

460,687

-

107,585

353,102

460,687

-

-

Zhaoqing Subtotal

肇慶小計

178,324

460,687

460,687

-

107,585

353,102

460,687

-

-

Agile Garden Heyuan

Heyuan

52

河源雅居樂花園

河源

100%

1,364,741

2,729,481

9,667

9,667

-

-

9,667

-

-

Agile Kylin Mansion Heyuan

Heyuan

53

河源雅居樂金麟府

河源

100%

113,202

283,612

208,802

3,878

204,925

-

208,802

-

-

Agile Chairman Shantou

Shantou

54

汕頭雅居樂御賓府

汕頭

100%

78,193

351,869

351,868

-

142,350

209,518

351,868

-

-

Agile Costal Pearl Shanwei

Shanwei

55

汕尾雅居樂山海郡

汕尾

100%

183,407

416,914

416,914

-

251,351

165,563

416,914

-

-

Fenghui Meizhou

Meizhou

56

梅州峰會

梅州

50%

44,774

116,412

116,412

-

104,748

11,664

116,412

-

-

Eastern Guangdong Subtotal

粵東小計

1,784,317

3,898,288

1,103,663

13,545

703,374

386,745

1,103,663

-

-

Agile Honorable Mansion Zhanjiang

Zhanjiang

57

湛江雅居樂雍逸廷

湛江

100%

20,058

60,027

10,494

10,494

-

-

10,494

-

-

Agile City Pearl Maoming

Maoming

58

茂名雅居樂熹玥

茂名

100%

21,463

64,390

64,326

-

64,326

-

53,768

-

10,558

Agile Lohas New City Maoming (Formerly known as Maoming

Lehuo Tiandi Town Project)

茂名雅居樂樂活新城

Maoming

59

（前稱：茂名雅居樂樂活天地小鎮項目）

茂名

100%

86,400

207,255

207,255

-

119,429

87,827

169,259

-

37,996

Ellite Residence Yunfu Project A

Yunfu

60 (A)

雲浮大名府項目A

雲浮

50%

112,669

338,006

303,521

83,178

220,343

-

303,521

-

-

Ellite Residence Yunfu Project B

Yunfu

60 (B)

雲浮大名府項目B

雲浮

50%

44,069

132,222

118,730

38,004

80,726

-

118,730

-

-

Jieyang Jiedong District Project

Jieyang

61

揭陽揭東區項目

揭陽

5%

46,599

157,982

157,982

-

157,982

-

157,982

-

-

Western Guangdong Subtotal

粵西小計

331,257

959,882

862,309

131,676

642,806

87,827

813,755

-

48,554

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

87

Land Bank Table

土地儲備一覽表

(As at 30 June 2020 / 於2020年6月30日)

Land Bank (sq.m.) (Note 1)

土地儲備（平方米（）註1）

Total

Total

Development Stage 發展階段 (B)

Planning Nature 規劃性質 (C)

Interests

Total Site

Planned

Planned GFA

Held for

Attributable

Area of the

GFA of the

(A)

Future

Residential &

Commercial

to the Group

Project

Project

(sq.m.)

Under

Development

Ancillary

& Office

(Note 3)

(sq.m.)

(sq.m.)

預計

Completed

Development

(B3)

Facilities

Hotel

(C3)

本集團

項目佔地

項目預計

總建築面積

(B1)

(B2)

持作未來

(C1)

(C2)

商業及

No.

Project Name

City

應佔權益

總面積

總建築面積

(A)

已竣工

在建

發展

住宅及配套

酒店

辦公室

代號

項目名稱

城巿

（註3）

（平方米）

（平方米）

（平方米）

(B1)

(B2)

(B3)

(C1)

(C2)

(C3)

City of Lohas Qingyuan

Qingyuan

62

清遠錦城

清遠

50%

53,331

111,995

111,995

-

111,995

-

111,995

-

-

Agile County Qingyuan

Qingyuan

63

清遠雅居樂雅郡

清遠

40%

166,700

466,760

466,760

-

210,684

256,076

466,760

-

-

Northern Guangdong Subtotal

粵北小計

220,031

578,755

578,755

-

322,679

256,076

578,755

-

-

Agile International Financial Center Nanning

Nanning

64

南寧國際金融中心

南寧

50%

56,736

375,446

193,140

193,140

-

-

16,707

57,411

119,022

Agile Golden Bay Beihai

Beihai

65

北海雅居樂金海灣

北海

61%

420,450

797,489

797,489

-

373,683

423,806

759,843

-

37,646

Guangxi Subtotal

廣西小計

477,186

1,172,935

990,629

193,140

373,683

423,806

776,550

57,411

156,668

Southern China Region Subtotal

華南區域小計

18,250,864

35,385,769

16,630,074

972,745

7,496,622

8,160,707

15,929,446

139,397

561,232

Eastern China Region

華東區域

Agile Chang Le Du Nanjing

Nanjing

66

南京雅居樂長樂渡

南京

100%

59,900

59,600

359

359

-

-

359

-

-

The Territory Nanjing

Nanjing

67

南京雅居樂濱江國際

南京

100%

316,697

910,561

37,560

37,560

-

-

37,560

-

-

Agile Chairman Nanjing

Nanjing

68

南京雅居樂御賓府

南京

100%

31,159

74,394

74,394

-

74,394

-

74,394

-

-

Agile Garden Gaochun

Nanjing

69

高淳雅居樂花園

南京

100%

222,641

512,074

972

972

-

-

972

-

-

Nanjing Pukou District Project

Nanjing

70

南京浦口區項目

南京

65%

233,257

702,104

702,104

-

-

702,104

702,104

-

-

Agile Yajun Lanting Nanjing (Formerly known as

Nanjing Jiangning District Project)

Nanjing

71

南京雅居樂雅郡蘭庭（前稱：南京江寧區項目）

南京

95%

63,132

155,936

155,936

-

54,580

101,356

155,936

-

-

Agile International Yangzhou

Yangzhou

72

揚州雅居樂國際

揚州

100%

110,597

436,858

273,761

-

273,761

-

134,528

139,233

-

Agile Orchid Mansion Yangzhou

Yangzhou

73

揚州雅居樂蘭亭公館

揚州

100%

83,312

96,559

6,366

6,366

-

-

6,366

-

-

Agile Mountain Yangzhou

Yangzhou

74

揚州雅居樂富春山居

揚州

100%

148,142

235,600

124,577

5,024

119,553

-

124,577

-

-

Yangzhou International Waterfront New Town Project

Yangzhou

75

揚州國際濱水新城小鎮項目

揚州

100%

306,886

508,218

508,218

-

332,482

175,736

460,927

-

47,291

Agile Silva Town Chuzhou

Chuzhou

76

滁州雅居樂林語城

滁州

100%

270,907

677,266

202,777

842

201,935

-

202,777

-

-

Agile Hillgrove Zhenjiang

Zhenjiang

77

鎮江雅居樂漣山

鎮江

100%

113,117

226,200

7,812

7,812

-

-

7,812

-

-

Agile Luxuriant Palace Zhenjiang

Zhenjiang

78

鎮江雅居樂新樂府

鎮江

100%

75,795

128,860

47,918

14,182

33,736

-

47,918

-

-

Agile Garden Jurong

Jurong

79

句容雅居樂花園

句容

100%

34,906

69,812

964

964

-

-

964

-

-

Agile Landscape House Xuzhou

Xuzhou

80

徐州雅居樂嬌山府

徐州

34%

147,531

177,037

177,037

-

177,037

-

177,037

-

-

Agile Fuchun Mountain Xuzhou

Xuzhou

81

徐州雅居樂富春山居

徐州

50%

132,397

172,115

172,115

-

172,115

-

172,115

-

-

Phoenix Orientalism Lianyungang

Lianyungang

82

連雲港鳳凰源著

連雲港

33%

56,593

113,185

113,185

-

113,185

-

113,185

-

-

Landscape Hefei

Hefei

83

合肥江山廬州印

合肥

49%

92,216

174,164

174,164

-

105,425

68,739

174,164

-

-

Agile County Hefei

Hefei

84

合肥雅居樂雅郡

合肥

100%

75,608

136,094

136,094

-

89,564

46,530

136,094

-

-

Agile New Joy Mansion Wuhu

Wuhu

85

蕪湖雅居樂新樂府

蕪湖

60%

124,059

190,930

190,930

-

190,930

-

190,930

-

-

Shanghai Pudong New District Project A

Shanghai

86 (A)

上海浦東新區項目A

上海

100%

542,952

293,001

293,001

-

-

293,001

-

197,462

95,539

Shanghai Pudong New District Project B

Shanghai

86 (B)

上海浦東新區項目B

上海

40%

1,190,661

146,487

146,487

-

-

146,487

-

146,487

Agile Central Park Jiaxing

Jiaxing

87

嘉興雅居樂中央公園

嘉興

51%

54,567

120,048

120,048

-

120,048

-

120,048

-

-

Jiaxing Huimin Town Project

Jiaxing

88

嘉興惠民鎮項目

嘉興

100%

31,163

68,559

68,559

-

68,559

-

-

-

68,559

Agile Yuejingzhuang Chunfengdu Jiaxing (Formerly known as

Jiaxing Wuzhen Main Road Project)

嘉興雅居樂悅景莊春風渡

Jiaxing

89

（前稱：嘉興烏鎮大地項目）

嘉興

50%

31,025

70,738

70,738

-

70,738

-

70,738

-

-

Agile Riverside Metropolis Huzhou

Huzhou

90

湖州雅居樂濱江國際

湖州

100%

64,220

134,862

134,862

-

134,862

-

134,862

-

-

Huzhou Fenghuang District East Project

Huzhou

91

湖州鳳凰東區項目

湖州

50%

65,257

130,514

130,514

-

130,514

-

130,514

-

-

Huzhou High Technology Town Project

Huzhou

92

湖州高科智造穀小鎮項目

湖州

100%

74,689

89,288

89,288

-

89,288

-

-

-

89,288

Agile Honour & Glory Changzhou

Changzhou

93

常州雅居樂榮華裡

常州

100%

194,968

286,608

26,034

26,034

-

-

26,034

-

-

88 雅居樂集團控股有限公司 2020中期報告

Land Bank (sq.m.) (Note 1)

土地儲備（平方米（）註1）

Total

Total

Development Stage 發展階段 (B)

Planning Nature 規劃性質 (C)

Interests

Total Site

Planned

Planned GFA

Held for

Attributable

Area of the

GFA of the

(A)

Future

Residential &

Commercial

to the Group

Project

Project

(sq.m.)

Under

Development

Ancillary

& Office

(Note 3)

(sq.m.)

(sq.m.)

預計

Completed

Development

(B3)

Facilities

Hotel

(C3)

本集團

項目佔地

項目預計

總建築面積

(B1)

(B2)

持作未來

(C1)

(C2)

商業及

No.

Project Name

City

應佔權益

總面積

總建築面積

(A)

已竣工

在建

發展

住宅及配套

酒店

辦公室

代號

項目名稱

城巿

（註3）

（平方米）

（平方米）

（平方米）

(B1)

(B2)

(B3)

(C1)

(C2)

(C3)

Agile Dream Lake Fairy Hill Changzhou Project A

Changzhou

94 (A)

常州雅居樂山湖城項目A

常州

100%

614,915

297,309

178,439

2,753

-

175,686

178,439

-

-

Agile Dream Lake Fairy Hill Changzhou Project B

Changzhou

94 (B)

常州雅居樂山湖城項目B

常州

95%

352,357

183,468

72,611

2,700

-

69,911

72,611

-

-

Agile Tangsong Changzhou

Changzhou

95

常州雅居樂棠頌

常州

51%

129,136

282,740

282,740

-

282,740

-

282,740

-

-

Chengshi Wanxiang Changzhou

Changzhou

96

常州城市萬象

常州

49%

108,618

217,236

159,215

-

159,215

-

159,215

-

-

Guoshijiuli Changzhou

Changzhou

97

常州國仕九禮

常州

50%

60,856

121,712

121,712

-

121,712

-

121,712

-

-

Changzhou Xixiashu Pure Industry Project

Changzhou

98

常州西夏墅純工業項目

常州

100%

47,566

61,249

61,249

-

61,249

-

-

-

61,249

Changzhou Wujin District Project

Changzhou

99

常州武進區項目

常州

49%

68,563

137,126

137,126

-

-

137,126

137,126

-

-

Agile Phoenix Terrace Changzhou (Formerly known as

Changzhou Xinbei District Project)

Changzhou

100

常州雅居樂鳳凰台（前稱：常州新北區項目）

常州

100%

48,985

107,767

107,767

-

-

107,767

107,767

-

-

Changzhou Industrial Project

Changzhou

101

常州工業項目

常州

100%

85,644

214,110

214,110

-

-

214,110

-

-

214,110

Taixing Industrial Project

Taixing

102

泰興工業項目

泰興

100%

62,294

124,588

124,588

-

-

124,588

-

-

124,588

Yixing Guanlin Industry Project

Yixing

103

宜興官林工業項目

宜興

100%

121,827

133,000

133,000

-

-

133,000

-

-

133,000

Puyang Industry Project

Puyang

104

溧陽工業項目

溧陽

100%

44,682

51,200

51,200

-

51,200

-

-

-

51,200

Agile City Center Villa Wuxi

Wuxi

105

無錫雅居樂中央府

無錫

100%

214,664

590,325

178,577

1,760

176,817

-

51,130

-

127,446

Implicit Talent Wuxi

Wuxi

106

無錫藏瓏府

無錫

50%

21,590

43,180

43,180

-

43,180

-

43,180

-

-

Mount Lake Oriental Landscape Nantong

Nantong

107

南通湖山源著

南通

33.4%

83,920

134,272

74,559

-

74,559

-

74,559

-

-

Agile Metropolis Nantong

Nantong

108

南通雅居樂中央公園

南通

40%

141,257

296,640

296,640

21,700

274,940

-

296,640

-

-

109

Agile Central Mansion Nantong Project A

Nantong

(A)

南通雅居樂中央公館項目A

南通

90%

22,402

55,300

55,300

-

55,300

-

55,300

-

-

109

Agile Central Mansion Nantong Project B

Nantong

(B)

南通雅居樂中央公館項目B

南通

100%

20,768

41,494

41,494

-

41,494

-

41,494

-

-

Nantong Hongwei Road Project

Nantong

110

南通宏偉路項目

南通

30%

53,092

95,566

95,566

-

54,011

41,555

95,566

-

-

Qidong Jinqiao Road Project

Qidong

111

啟東金橋路項目

啟東

100%

49,737

124,343

124,343

-

67,673

56,670

-

-

124,343

Agile International Garden Hangzhou

Hangzhou

112

杭州雅居樂國際花園

杭州

100%

132,446

423,827

11,262

11,262

-

-

11,262

-

-

Agile Mountain Mansion Changshu

Suzhou

113

蘇州雅居樂新樂府

蘇州

100%

81,202

162,404

88,975

35,856

53,119

-

88,975

-

-

Agile Lake Mansion Changshu

Changshu

114

常熟雅居樂瀾悅雅築

常熟

49%

51,039

132,701

132,701

-

132,701

-

132,701

-

-

Agile Linghu Garden Kunshan (Formerly known as

Kunshan

Kunshan Dianshan Lake Town Project)

115

崑山雅居樂聆湖雅苑（前稱：崑山澱山湖鎮項目）

崑山

100%

60,291

108,523

108,523

-

108,523

-

108,523

-

-

Long Beach Fuzhou

Fuzhou

116

福州璞悅長灘

福州

49%

70,618

197,730

197,730

-

197,730

-

197,730

-

-

Agile Mountains & Aqua Fuzhou

Fuzhou

117

福州雅居樂山海郡

福州

100%

39,096

64,392

41,055

41,055

-

-

41,055

-

-

Fuzhou Cangshan District Project

Fuzhou

118

福州倉山區項目

福州

100%

20,007

42,015

42,015

-

-

42,015

42,015

-

-

Agile Chairman Xiamen

Xiamen

119

廈門雅居樂御賓府

廈門

100%

12,206

29,296

9,130

9,130

-

-

9,130

-

-

Jinyu Tixiang Xiamen

Xiamen

120

廈門金域緹香

廈門

51%

7,964

19,112

19,112

-

19,112

-

19,112

-

-

Agile Xiangshan in the Bay Zhangzhou

Zhangzhou

121

漳州雅居樂香山灣

漳州

51%

353,391

1,140,725

1,140,725

-

248,242

892,483

1,140,725

-

-

Agile Champion Town Weihai

Weihai

122

威海雅居樂冠軍體育小鎮

威海

64.8%

2,311,087

2,627,812

2,627,812

9,781

312,397

2,305,634

2,103,304

22,000

502,508

Jing Yuan Jinan

Jinan

123

濟南璟園

濟南

50%

70,754

207,463

148,717

-

148,717

-

148,717

-

-

Jiangshan The One Jinan

Jinan

124

濟南江山一品

濟南

33%

23,856

38,170

38,170

-

38,170

-

38,170

-

-

Agile City of Lohas Jinan

Jinan

125

濟南雅居樂錦城

濟南

100%

69,495

180,687

180,687

-

180,687

-

180,687

-

-

Eastern China Region Subtotal

華東區域小計

10,604,678

15,785,152

11,526,804

236,112

5,456,194

5,834,498

9,382,501

358,695

1,785,608

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

89

Land Bank Table

土地儲備一覽表

(As at 30 June 2020 / 於2020年6月30日)

Land Bank (sq.m.) (Note 1)

土地儲備（平方米（）註1）

Total

Total

Development Stage 發展階段 (B)

Planning Nature 規劃性質 (C)

Interests

Total Site

Planned

Planned GFA

Held for

Attributable

Area of the

GFA of the

(A)

Future

Residential &

Commercial

to the Group

Project

Project

(sq.m.)

Under

Development

Ancillary

& Office

(Note 3)

(sq.m.)

(sq.m.)

預計

Completed

Development

(B3)

Facilities

Hotel

(C3)

本集團

項目佔地

項目預計

總建築面積

(B1)

(B2)

持作未來

(C1)

(C2)

商業及

No.

Project Name

City

應佔權益

總面積

總建築面積

(A)

已竣工

在建

發展

住宅及配套

酒店

辦公室

代號

項目名稱

城巿

（註3）

（平方米）

（平方米）

（平方米）

(B1)

(B2)

(B3)

(C1)

(C2)

(C3)

Western China Region

西部區域

Agile Garden Chengdu

Chengdu

126

成都雅居樂花園

成都

100%

1,338,960

1,606,752

20,179

20,179

-

-

20,179

-

-

Agile Born to Shine Chengdu

Chengdu

127

成都雅居樂星徽城

成都

49%

56,005

112,011

112,011

-

112,011

-

112,011

-

-

Flowers Island Chengdu

Chengdu

128

成都花嶼島

成都

33%

69,999

139,999

139,999

-

139,999

-

139,999

-

-

Agile City of Lohas Chengdu

Chengdu

129

成都雅居樂錦城

成都

100%

66,009

165,023

165,023

-

165,023

-

165,023

-

-

Agile Boguang Yafu Chengdu

Chengdu

130

成都雅居樂鉑光雅府

成都

100%

105,832

245,068

245,068

-

99,932

145,136

245,068

-

-

Chengdu Chenghua District Project

Chengdu

131

成都成華區項目

成都

30%

97,600

244,000

244,000

-

146,832

97,168

244,000

-

-

Chengdu International Resort District Project

Chengdu

132

成都國際度假區項目

成都

51%

226,895

237,625

237,625

-

-

237,625

231,791

5,834

-

Agile Life Diary Xi'an

Xi'an

133

安雅居樂湖居筆記

西安

100%

277,519

695,070

223,064

1,891

108,258

112,915

110,149

-

112,915

Agile City of Lohas Xi'an

Xi'an

134

西安雅居樂錦城

西安

51%

59,434

168,748

1,371

1,371

-

-

1,371

-

-

Agile North City County Xi'an (Formerly known as

Xi'an Xixian New District Project)

Xi'an

135

西安雅居樂北城雅郡（前稱：西安西咸新區項目）

西安

40%

128,087

256,174

256,174

-

-

256,174

256,174

-

-

Agile Garden Hanzhong

Hanzhong

136

漢中雅居樂花園

漢中

100%

442,647

1,549,263

1,549,263

14,653

441,365

1,093,245

1,549,263

-

-

Agile Hanlin Yajun Weinan

Weinan

137

渭南雅居樂翰林雅郡

渭南

100%

43,637

104,730

104,730

-

104,730

-

104,730

-

-

Agile Chairman Chongqing

Chongqing

138

重慶雅居樂御賓府

重慶

100%

119,287

348,172

3,750

3,750

-

-

3,750

-

-

Agile Mountain Chongqing

Chongqing

139

重慶雅居樂富春山居

重慶

100%

203,112

362,486

268,683

26,734

166,862

75,087

268,683

-

-

Lumingfu Chongqing

Chongqing

140

重慶麓銘府

重慶

33%

157,427

366,953

289,242

-

289,242

-

289,242

-

-

Agile Bay Area Villa Chongqing

Chongqing

141

重慶雅居樂濱爵府

重慶

100%

138,394

187,009

182,350

53,999

56,409

71,942

182,350

-

-

Agile Jiulong County Chongqing

Chongqing

142

重慶雅居樂九龍雅郡

重慶

100%

50,035

100,070

100,070

-

52,480

47,590

100,070

-

-

Agile Star County Chongqing

Chongqing

143

重慶雅居樂星瀚雅府

重慶

100%

112,059

168,089

168,089

-

81,189

86,900

168,089

-

-

Western China Region Subtotal

西部區域小計

3,692,939

7,057,242

4,310,691

122,577

1,964,332

2,223,782

4,191,942

5,834

112,915

Central China Region

華中區域

Bund Mansion Changsha

Changsha

144

長沙海外灘

長沙

50%

197,406

670,237

313,913

24,879

-

289,034

313,913

-

-

Agile Evian Town Changsha

Changsha

145

長沙雅居樂依雲小鎮

長沙

100%

410,911

739,641

453,491

64,511

74,484

314,496

453,491

-

-

Agile Sunday Changsha

Changsha

146

長沙雅居樂新地

長沙

100%

15,853

69,596

69,596

-

69,596

-

69,596

-

-

Agile Forest Lake Zhengzhou

Zhengzhou

147

鄭州雅居樂春森湖畔

鄭州

100%

78,328

195,821

1,003

1,003

-

-

1,003

-

-

Agile Chairman Zhengzhou

Zhengzhou

148

鄭州雅居樂御賓府

鄭州

100%

49,485

74,227

32,498

27,624

4,874

-

32,498

-

-

Agile Celestial Mansion Zhengzhou

Zhengzhou

149

鄭州雅居樂天域

鄭州

100%

52,189

156,566

148,717

4,755

143,962

-

148,717

-

-

West City Garden Zhenzhou (Formerly known as

Zhengzhou

Zhenzhou Zhengshang New District Project)

150

鄭州西城雅苑（前稱：鄭州鄭上新區項目）

鄭州

33%

46,691

116,726

116,726

-

116,726

-

116,726

-

-

Agile Romantic Town Gongyi

Zhengzhou

151

鞏義雅居樂羅曼小鎮

鄭州

72%

420,723

656,582

656,582

-

322,722

333,860

586,690

-

69,892

Grand View Kaifeng

Kaifeng

152

開封悅棠

開封

51%

59,545

148,863

148,863

-

148,863

-

148,863

-

-

Guokong Kaifeng

Kaifeng

153

開封國控

開封

20.4%

264,008

660,019

660,019

-

251,711

408,308

660,019

-

-

Agile International Garden Xuchang

Xuchang

154

許昌雅居樂國際花園

許昌

100%

93,186

279,558

176,444

31,539

144,905

-

176,444

-

-

Agile County of Earl Xuchang

Xuchang

155

許昌雅居樂鉑爵郡

許昌

100%

31,083

56,977

54,997

10,421

44,576

-

54,997

-

-

Agile Hanlinya County Xuchang (Formerly known as

Xuchang Jian'an District Project)

Xuchang

156

許昌雅居樂翰林雅郡（前稱：許昌建安區項目）

許昌

100%

165,972

481,319

481,319

-

114,414

366,905

481,319

-

-

Lantai Mansion Shangqiu

Shangqiu

157

商丘蘭台府

商丘

49%

59,698

179,093

179,094

-

55,586

123,508

179,094

-

-

Agile International Garden Shangqiu

Shangqiu

158

商丘雅居樂國際花園

商丘

100%

52,607

157,820

157,820

-

157,820

-

157,820

-

-

Agile Nanlu Mountain Chenzhou

Chenzhou

159

郴州雅居樂南麓山居

郴州

50%

121,066

145,279

145,279

-

73,485

71,794

145,279

-

-

Agile International Garden Wuhan

Wuhan

160

武漢雅居樂花園

武漢

100%

406,583

790,694

532,802

19,762

433,849

79,191

532,802

-

-

90 雅居樂集團控股有限公司 2020中期報告

Land Bank (sq.m.) (Note 1)

土地儲備（平方米（）註1）

Total

Total

Development Stage 發展階段 (B)

Planning Nature 規劃性質 (C)

Interests

Total Site

Planned

Planned GFA

Held for

Attributable

Area of the

GFA of the

(A)

Future

Residential &

Commercial

to the Group

Project

Project

(sq.m.)

Under

Development

Ancillary

& Office

(Note 3)

(sq.m.)

(sq.m.)

預計

Completed

Development

(B3)

Facilities

Hotel

(C3)

本集團

項目佔地

項目預計

總建築面積

(B1)

(B2)

持作未來

(C1)

(C2)

商業及

No.

Project Name

City

應佔權益

總面積

總建築面積

(A)

已竣工

在建

發展

住宅及配套

酒店

辦公室

代號

項目名稱

城巿

（註3）

（平方米）

（平方米）

（平方米）

(B1)

(B2)

(B3)

(C1)

(C2)

(C3)

Agile Yunzhu Wuhan

Wuhan

161

武漢雅居樂雲築

武漢

49%

119,789

275,514

275,514

-

186,482

89,032

275,514

-

-

Agile City of Lohas Jingzhou

Jingzhou

162

荊州雅居樂錦城

荊州

100%

42,113

147,395

147,395

-

147,395

-

147,395

-

-

Agile Modern Mansion Xiangyang

Xiangyang

163

襄陽雅居樂璽悅

襄陽

100%

213,809

442,912

442,912

-

333,379

109,533

339,650

-

103,262

Jiujiang Lianxi District Project

Jiujiang

164

九江濂溪區項目

九江

30%

230,966

287,360

287,360

-

89,956

197,404

287,360

-

-

Central China Region Subtotal

華中區域小計

3,132,009

6,732,199

5,482,345

184,495

2,914,786

2,383,065

5,309,191

-

173,154

Hainan Region

海南區域

Hainan Clearwater Bay

Lingshui

165

海南清水灣

陵水

100%

10,698,576

8,402,563

3,390,479

308,694

1,886,391

1,195,394

2,759,440

441,380

189,659

Agile Starlight City Hainan

Wenchang

166

海南雅居樂星光城

文昌

100%

110,098

330,294

311,948

5,797

163,010

143,141

311,948

-

-

Agile Golden Bay Hainan

Haikou

167

海南雅居樂金沙灣

海口

60%

376,502

704,451

625,734

84,376

541,358

-

625,734

-

-

Agile Center Haikou (Formerly known as

Hainan Main District Project)

Haikou

168

海口雅居樂中心（前稱：海南主城區項目）

海口

100%

36,944

92,359

92,359

-

92,359

-

-

-

92,359

Agile Shanqin Bay Wanning (Formerly known as

Wanning Shanqin Bay Project)

Wanning

169

萬寧雅居樂山欽灣（前稱：萬寧山欽灣項目）

萬寧

100%

233,325

184,658

135,019

-

10,513

124,506

135,019

-

-

Lingao Nanbao Town Project

Lingao

170

臨高南寶鎮項目

臨高

100%

88,963

44,482

44,482

-

44,482

-

-

44,482

-

Hainan Region Subtotal

海南區域小計

11,544,408

9,758,807

4,600,021

398,868

2,738,113

1,463,041

3,832,141

485,862

282,018

Yunnan Region

雲南區域

Agile International Garden Ruili

Ruili

171

瑞麗雅居樂國際花園

瑞麗

100%

413,273

969,371

519,885

35,831

229,476

254,578

519,885

-

-

Agile Eden Yunnan

Tengchong

172

雲南雅居樂原鄉

騰沖

100%

2,423,266

4,004,836

2,718,150

131,922

356,228

2,230,000

2,585,456

113,855

18,839

173

Agile Erhai Dali

Dali

(A)

大理雅居樂雅美灣

大理

50%

30,893

114,305

117,939

-

-

117,939

117,939

-

-

173

Erhai Dali

Dali

(B)

大理雅美灣

大理

50%

31,320

125,280

125,280

-

35,896

89,385

125,280

-

-

Agile Quenya Yunnan

Xishuangbanna

174

雲南雅居樂西雙林語

西雙版納

100%

1,071,600

1,285,920

1,072,033

303

420,050

651,680

1,072,033

-

-

Jinlin Fenghui Kunming

Kunming

175

昆明錦麟峰薈

昆明

50%

81,914

262,126

262,126

-

124,779

137,347

262,126

-

-

Agile City Central Kunming (Formerly known as

Kunming Xishan District Project)

Kunming

176

昆明雅居樂雲和中心（前稱：昆明西山區項目）

昆明

51%

64,076

260,873

273,498

-

155,368

118,130

273,498

-

-

Yunnan Region Subtotal

雲南區域小計

4,116,342

7,022,711

5,088,910

168,056

1,321,796

3,599,059

4,956,216

113,855

18,839

Northeast China Region

東北區域

Agile Garden Shenyang

Shenyang

177

瀋陽雅居樂花園

瀋陽

100%

536,848

1,110,834

336,920

4,440

332,480

-

336,920

-

-

Agile Shine Song Shenyang

Shenyang

178

瀋陽雅居樂雅華香頌

瀋陽

50%

30,705

52,198

52,198

-

52,198

-

52,198

-

-

Northeast China Region Subtotal

東北區域小計

567,553

1,163,032

389,118

4,440

384,678

-

389,118

-

-

INTERIM REPORT 2020 AGILE GROUP HOLDINGS LIMITED

91

Land Bank Table

土地儲備一覽表

(As at 30 June 2020 / 於2020年6月30日)

Land Bank (sq.m.) (Note 1)

土地儲備（平方米（）註1）

Total

Total

Development Stage 發展階段 (B)

Planning Nature 規劃性質 (C)

Interests

Total Site

Planned

Planned GFA

Held for

Attributable

Area of the

GFA of the

(A)

Future

Residential &

Commercial

to the Group

Project

Project

(sq.m.)

Under

Development

Ancillary

& Office

(Note 3)

(sq.m.)

(sq.m.)

預計

Completed

Development

(B3)

Facilities

Hotel

(C3)

本集團

項目佔地

項目預計

總建築面積

(B1)

(B2)

持作未來

(C1)

(C2)

商業及

No.

Project Name

City

應佔權益

總面積

總建築面積

(A)

已竣工

在建

發展

住宅及配套

酒店

辦公室

代號

項目名稱

城巿

（註3）

（平方米）

（平方米）

（平方米）

(B1)

(B2)

(B3)

(C1)

(C2)

(C3)

Northern China Region

華北區域

Tianjin Jinnan New City

Tianjin

179

天津津南新城

天津

25%

1,289,227

3,010,901

1,253,379

70,375

1,183,004

-

857,379

36,000

360,000

Agile Chairman Tianjin

Tianjin

180

天津雅居樂御賓府

天津

100%

85,689

128,532

28,749

8,749

-

20,000

28,749

-

-

Agile Tianfu Tianjin

Tianjin

181

天津雅居樂天富

天津

48%

436,800

1,122,661

1,122,661

-

118,316

1,004,345

1,122,661

-

-

182

Agile Samite Dajia Tianjin (Formerly known as Tianjin Haijiao

Garden Project A)

Tianjin

(A)

天津雅居樂錦繡大家（前稱：天津海教園項目A）

天津

50%

230,355

327,276

327,276

-

142,421

184,855

327,276

-

-

182

Tianjin Haijiao Garden Project B

Tianjin

(B)

天津海教園項目B

天津

100%

45,709

77,704

77,704

-

77,704

-

77,704

-

-

Agile Baodi Jinqiao International Town Tianjin

Tianjin

183

天津雅居樂寶坻津僑國際小鎮

天津

96%

493,845

825,535

825,535

-

395,250

430,285

723,393

20,000

82,142

184

Agile Chairman Handan

Handan

(A)

邯鄲雅居樂御賓府

邯鄲

90%

18,240

36,480

36,480

-

36,480

-

36,480

-

-

184

Courtyard Handan

Handan

(B)

邯鄲夢湖瀾庭

邯鄲

49%

30,581

61,162

61,162

-

61,162

-

61,162

-

-

Agile Lohas Life Jinzhong

Jinzhong

185

晉中雅居樂熙苑

晉中

33%

46,603

163,112

163,112

-

53,143

109,969

163,112

-

-

Yourgend Peninsula Jinzhong

Jinzhong

186

晉中雍錦半島

晉中

49%

145,037

452,292

452,292

-

360,340

91,952

452,292

-

-

Beijing Yanqing District Project

Beijing

187

北京延慶區項目

北京

51%

198,254

65,000

65,000

-

-

65,000

55,486

9,514

-

Agile Jinghua Ya Jun Beijing

Beijing

188

北京雅居樂京華雅郡

北京

100%

36,478

80,252

80,252

-

80,252

-

80,252

-

-

Agile Chairman Shijiazhuang

Shijiazhuang

189

石家莊雅居樂御賓府

石家莊

100%

49,697

99,394

99,394

-

89,359

10,035

99,394

-

-

Northern China Region Subtotal

華北區域小計

3,106,515

6,450,300

4,592,996

79,124

2,597,431

1,916,440

4,085,340

65,514

442,142

Hong Kong

香港

190

Hong Kong King's Road & Mount Parker Road Project A

Hong Kong

(A)

香港英皇道柏加山道項目A

香港

100%

929

1,887

1,887

-

-

1,887

1,887

-

-

190

Hong Kong King's Road & Mount Parker Road Project B

Hong Kong

(B)

香港英皇道柏加山道項目B

香港

100%

1,067

2,479

2,479

-

-

2,479

2,479

-

-

190

Hong Kong King's Road & Mount Parker Road Project C

Hong Kong

(C)

香港英皇道柏加山道項目C

香港

90%

929

2,159

2,159

-

-

2,159

2,159

-

-

Hong Kong Subtotal

香港小計

2,925

6,525

6,525

-

-

6,525

6,525

-

-

Overseas

海外

Agile Mont Kiara Kuala Lumpur

Kuala Lumpur

191

吉隆玻雅居樂滿家樂

吉隆玻

70%

41,130

167,100

43,144

43,144

-

-

43,144

-

-

Agile Bukit Bintang Kuala Lumpur

Kuala Lumpur

192

吉隆玻雅居樂天匯

吉隆玻

70%

15,174

191,234

184,628

-

162,526

22,102

184,628

-

-

Agile Embassy Garden Kuala Lumpur

Kuala Lumpur

193

吉隆玻雅居樂大使花園

吉隆玻

100%

12,464

111,900

111,772

-

75,847

35,925

111,772

-

-

Agile Sky Residence Phnom Penh

Phnom Penh

194

金邊雅居樂天悅

金邊

49%

4,220

50,640

48,855

-

48,855

-

48,855

-

-

San Francisco Project 88

San Francisco

195

三藩市88項目

三藩市

50%

2,787

10,674

10,674

-

10,674

-

10,674

-

-

Overseas Subtotal

海外小計

75,775

531,548

399,073

43,144

297,902

58,027

399,073

-

-

Grand Total (Note 2)

總計（註2）

55,094,007

89,893,286

53,026,558

2,209,561

25,171,852

25,645,144

48,481,493

1,169,156

3,375,908

Notes:

註：

  1. Land bank data includes only GFA that is calculated based on plot ratio and A=B=C. The data of completed GFA and GFA under development are as at 30 June 2020. Data are derived from the Group's internal record.
    土地儲備只包括計容積率的建築面積，其中A=B=C。已竣工面積及在建面積資料統計至2020年6月30日。資料為本集團內部統計資料。
  2. In addition to the above information, the Group has 2 planned projects in Hong Kong, including holding: (a) 70% equity interest in lands (including agricultural land and others) with total site area of approximately 1.29 million sq. feet in the new territories and is intended to submit its application for amendment of plan to the relevant government department; and (b) 51% equity interest in lands with total site area of approximately 49,000 sq. feet in Kowloon.
    除上述資料外，本集團於香港擁有兩個規劃中的項目，包括持有：(a)位於新界合共約129萬平方呎土地（含農地等）的70%權益，並計劃向相關政府 部門提出修訂圖則申請及(b)位於九龍合共約4.9萬平方呎土地的51%權益。
  3. The Group's equity interests in the projects listed in the Land Bank Table may change as a result of introduction of cooperation parties for the joint development of some of these projects. The current percentages of shareholdings listed in the Land Bank Table are for reference only.
    土地儲備一覽表所列的部分項目未來可能引進合作方共同開發，因此本集團在項目中所佔的權益比例可能發生變化。土地儲備一覽表目前所列權益比 例，僅供參考。

92 雅居樂集團控股有限公司 2020中期報告

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Agile Group Holdings Limited published this content on 28 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 August 2020 22:17:11 UTC