CMON Limited — Interim / Quarterly Report 2015

Aug 28, 2015

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

香港交易及結算所有限公司及香港聯合交易 所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確 表示，概不對因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失 承擔任何責任。

瀋陽公用發展股份有限公司 Shenyang Public Utility Holdings Company Limited

(a joint stock limited company incorporated in the People’s Republic of China)

（在中華人民共和國註冊成立之股份有限公司） (Stock code: 747) （股票代碼： 747 ）

ANNOUNCEMENT OF INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2015 截至二零一五年六月三十日止六個月 中期業績公佈

The board of directors of Shenyang Public Utility Holdings Company Limited is pleased to present the unaudited condensed consolidated interim results of the Company and its subsidiaries for the six months ended 30 June 2015.

瀋陽公用發展股份有限公司董事會欣然提呈 本公司及其附屬公司截至二零一五年六月 三十日止六個月的未經審計簡明綜合中期業 績。

– 1 –

Condensed Consolidated Income Statement

For the six months ended 30 June 2015

簡明綜合收益表

截至二零一五年六月三十日止六個月

Note 附註 Turnover 營業額 3 Cost of sales 營業成本 Sales taxes on turnover 營業額銷售稅 Other income 其他收入 5 Gain on disposal of a subsidiary 出售一間附屬公司收益 6 Loss on disposal of held for trading investment 出售持作買賣 投資虧損 Fair value change on held for trading investment 持作買賣投資 公允價值變動 7 Other operating expenses 其他經營開支 Depreciation 折舊 Staff costs 員工成本 Donation 捐款 Profit before tax 除稅前溢利 Income tax expense 所得稅開支 8 Profit for the Period 期內溢利 Exchange differences arising on translation of financial statements of foreign operations 換算海外業務財務報表 產生之匯兌差額 Total comprehensive income for the Period 期內全面收益總額 Profit attributable to the owners of the Company 本公司擁有人應佔溢利 Profit or loss attributable to the minority interests 少數股東應佔損益 Earnings per share – Basic (RMB cents) 每股盈利－基本（分） 9 – Diluted (RMB cents) －攤薄（分） Dividends 股息 10

Six months ended 30 June 截至六月三十日止六個月 2015 2014 二零一五年 二零一四年 (Unaudited) (Unaudited) （未經審計） （未經審計） RMB’000 RMB’000 人民幣千元 人民幣千元 173,251 140 (154,216) – (863) – 37 2,016 – 45,677 – (557) (10,545) – (1,338) (1,059) (79) (9) (1,764) (2,097) (1,000) – 3,483 44,111 (2,347) – 1,136 44,111 182 (289) 1,318 43,822 1,318 43,822 – – 0.11 4.32 N/A不適用 N/A不適用 – –

– 2 –

Consolidated Statement of Comprehensive Income

For the six months ended 30 June 2015

綜合全面收益表

截至二零一五年六月三十日止六個月

Note 附註 Profit for the Period 期內溢利 Exchange differences arising on translation 換算產生之匯兌差額 Total comprehensive income for the Period 期內全面收益總額 Total comprehensive income attributable to 下列應佔全面收益 總額 Owners of the Company 本公司擁有人 Non-controlling interests 非控股權益	Six months ended 30 June 截至六月三十日止六個月 2015 2014 二零一五年 二零一四年 (Unaudited) (Unaudited) （未經審計） （未經審計） RMB’000 RMB’000 人民幣千元 人民幣千元 1,136 44,111 182 (289) 1,318 43,822 1,318 43,822 – –

– 3 –

Condensed Consolidated Balance Sheet

At 30 June 2015

簡明綜合資產負債表

於二零一五年六月三十日

Note 附註 NON-CURRENT ASSETS 非流動資產 Goodwill 商譽 11 Property, plant and equipment 物業、廠房及設備 Deposit paid for acquisition of property, plant and equipment 收購物業、廠房及設備 所支付的訂金 13 Deposit paid for acquisition of a subsidiary 收購一間附屬公司 所支付的訂金 12 Loan and interest receivable (non-current position) 應收貸款及利息 （非流動部分） 15 CURRENT ASSETS 流動資產 Properties under development 發展中物業 14 Held for trading investment 持作買賣投資 Loan and interest receivables 應收貸款及利息 15 Trade receivables 應收賬款 16 Prepayments, deposits and other receivables 預付款項、按金及 其他應收款項 17 Bank balances and cash 銀行結餘及現金 18 Deferred tax asset 遞延稅項資產 TOTAL ASSETS 總資產 CURRENT LIABILITIES 流動負債 Trade payables 應付賬款 19 Advanced proceeds received from customers 已收客戶 預付款項 20 Other payables and accruals 其他應付款及應計費用 Amount due to ultimate holding company 應付最終控股公司 款項 Tax liabilities 稅項負債 NET CURRENT ASSETS 流動資產淨值 TOTAL ASSETS LESS CURRENT LIABILITIES 總資產減流動負債 CAPITAL AND RESERVES 資本及儲備 Share capital 股本 21 Reserves 儲備 TOTAL EQUITY 總權益

30 June 2015 31 December 2014 二零一五年 六月三十日 二零一四年 十二月三十一日 (Unaudited) (Audited) （未經審計） （經審計） RMB’000 RMB’000 人民幣千元 人民幣千元 45,779 45,779 1,288 1,372 22,000 – 100,000 80,000 – 58 169,067 127,209 315,574 461,136 46,900 – 170,560 40,614 197,401 28,200 53,662 102,330 27,652 7,881 – 2,112 811,749 642,273 980,816 769,482 107,069 131,162 77,000 37,200 3,618 5,458 1,000 2,000 – 5,371 188,687 181,551 623,062 460,722 792,129 587,931 1,224,480 1,020,400 (432,351) (432,469) 792,129 587,931

– 4 –

Condensed Consolidated Statement of

簡明綜合權益變動表

Changes in Equity

For the six months ended 30 June 2015

截至二零一五年六月三十日止六個月

At 1 January 2014 於二零一四年一月一日 Profits for the Period 本期盈利 Exchange differences 匯兌差額 At 30 June 2014 於二零一四年六月三十日 At 1 January 2015 於二零一五年一月一日 Profits for the Period 本期盈利 Exchange differences 匯兌差額 Issue of Shares (note 21) 股份發行（附註21） As at 30 June 2015 於二零一五年六月三十日

Equity attributable to shareholders of the Company 本公司擁有人應佔權益 Share capital Share premium Statutory surplus reserve Exchange reserve Accumulated profits Total 股本 股本溢價 法定盈餘 公積金 匯兌儲備 累計溢利 總計 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 人民幣千元 人民幣千元 人民幣千元 人民幣千元 人民幣千元 人民幣千元 1,020,400 323,258 104,745 (52) (904,661) 543,690 – – – – 44,111 44,111 – – – (289) – (289) 1,020,400 323,258 104,745 (341) (860,550) (587,512)

1,020,400 323,258 104,840 128 (860,695) 587,931 – – – – 1,136 1,136 – – – 182 – 182 204,080 – (1,200) – – 202,880 1,224,480 323,258 103,640 310 (859,559) 792,129

– 5 –

Condensed Consolidated Statement of Cash Flows

For the six months ended 30 June 2015

簡明綜合現金流量表

截至二零一五年六月三十日止六個月

Net cash (used in) from operating activities（支付）來自經營業務的現金淨額 Net cash (used in) from investing activities （支付）來自投資活動的現金淨額 Net cash (used in) from financing activities （支付）來自融資活動的現金淨額 Increase in cash and cash equivalents 現金及現金等值項目的增加 Cash and cash equivalents at the beginning of the Period 於期初時的現金及 現金等值項目 Effect of foreign exchange rate changes, net 匯率變動影響，淨額 Cash and cash equivalents at the end of the Period 於期末時的現金及 現金等值項目

30 June 2015 30 June 2014 二零一五年 六月三十日 二零一四年 六月三十日 (Unaudited) (Unaudited) （未經審計） （未經審計） RMB’000 RMB’000 人民幣千元 人民幣千元 32,634 (739) (216,125) 47,034 203,080 (9,100) 19,589 37,195 7,881 21,912 27,470 59,107 182 (289) 27,652 58,818

– 6 –

Notes to the Condensed Financial Statements

For the six months ended 30 June 2015

1. GENERAL INFORMATION

Shenyang Public Utility Holdings Company Limited (the “Company”) is a joint stock limited company incorporated in the People’s Republic of China (the “PRC”). The Company’s ultimate holding company is Shenzhen Jinma Asset Management Company Limited. The addresses of the principal place of business and registered office of the Company are 14/F, Jinmao International Apartment, No. 1 Xiao Dong Road, Da Dong District, Shenyang, the PRC and No. 1-4, 20A, Central Street, Shenyang Economic and Technological Development Zone, the PRC, respectively.

The consolidated financial statements are presented in Renminbi (“RMB”) which is the same as the functional currency of the Company and its subsidiaries (collectively known as the “Group”).

The Company’s H-shares are listed on The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) on 16 December 1999.

2. ACCOUNTING POLICIES AND BASIS OF PREPARATION

The unaudited condensed consolidated financial statements of the Group have been prepared in accordance with new Hong Kong Financial Reporting Standards (“HKFRSs”), Hong Kong Accounting Standards and Interpretations issued by the Hong Kong Institute of Certified Public Accountants and the disclosure requirements of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited. These accounts have been prepared under historical cost convention, except for certain financial instruments which are measured at their fair values.

The preparation of the unaudited condensed consolidated financial statements in conformity with the HKFRSs requires the use of certain critical accounting estimates. It also requires the management to exercise its judgement in the process of applying the Group’s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the unaudited condensed consolidated financial statements include provision for bad and doubtful debts, provision for taxation, provision for asset impairment and fair values of financial assets stated at fair value and those dealt in profit or loss accounts.

簡明財務報表附註

截至二零一五年六月三十日止六個月

1. 一般資料

瀋陽公用發展股份有限公司（「本公 司」）是一家在中華人民共和國（「中 國」）註冊成立的股份有限公司。本公 司的最終控股公司為深圳市金馬資產 管理有限公司。本公司主要營業地點 地址為中國瀋陽市大東區小東路1號金 茂國際公寓14樓。本公司註冊辦公處 地址為中國瀋陽經濟技術開發區中央 大街20甲1-4號。

此等綜合財務報表以人民幣列示，人 民幣是本公司及其附屬公司（統稱「本 集團」）的功能貨幣。

本公司的H股於一九九九年十二月十六 日在香港聯合交易所有限公司（「聯交 所」）上市。

會計政策及編製基準

2.

本集團之未經審計簡明綜合財務報表 乃根據香港會計師公會新頒佈的香港 財務報告準則、香港會計準則及詮釋 及香港聯合交易所有限公司證券上市 規則之披露規定編製。除部份財務工 具以其公允價值計量外，本賬目乃根 據歷史成本慣例編製。

編製符合香港財務報告準則的未經審 計簡明綜合財務報表需要運用若干重 要的會計估計，亦同時需要管理層在 採用本集團的會計政策過程中作出判 斷。在未經審計簡明綜合財務報表中 涉及高度判斷或複雜程度的範疇，或 有重要假設及估計的範疇包括呆壞賬 撥備、稅項撥備、資產減值撥備及按 公平值列賬並在損益賬處理的財務資 產公平值。

– 7 –

The fair value represents the price received on disposal of assets or the price payable on transfer of liabilities in an orderly transaction between market participants, which is determined by the Group based on the market price as at the balance sheet date on the fair value basis.

公允價值是於計量日市場參與者間於 秩序交易中出售資產所收取或轉讓負 債須支付之價格，本集團會按照市場 價格在資產負債表日按公允價值基準 釐定。

Interest income from investments is recognised when the shareholders’ rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Group and the amount of revenue can be measured reliably).

來自投資的利息收入於股東收取付款 的權益確定時確認（經濟利益將有可能 流向本集團及收入金額能可靠計量）。

As at the balance sheet date, transactions in currencies other than the overseas subsidiary’s functional currency are recognised at the exchange rate prevailing at the transaction date. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated.

於結算日，境外子公司實體的財務報 表以功能貨幣以外的貨幣進行的交易 均按交易日期的適用匯率換算入賬。 以外幣列值按過往成本計量的非貨幣 項目無須重新換算。

3. TURNOVER

3. 營業額

Turnover represents the amounts received and receivable for construction of infrastructure and credit business of the Group:

營業額為本集團基礎設施建設以及信 貸業務已收及應收金額：

Construction of infrastructure 基礎設施建設 Credit business 信貸業務	30 June 2015 30 June 2014 二零一五年 六月三十日 二零一四年 六月三十日 (Unaudited) (Unaudited) （未經審計） （未經審計） RMB’000 RMB’000 人民幣千元 人民幣千元 168,400 – 4,851 140 173,251 140

– 8 –

4. TURNOVER AND SEGMENT INFORMATION

4. 營業額及分部資料

Principal activities are as follows:

主要業務為：

Construction of infrastructure and credit business

基礎設施建設、信貸業務

The analysis of revenue and results by reportable segment of the Group is as follows:

本集團按可報告分部劃分的收入及業 績分析如下：

For the six months ended 30 June 2015

(Unaudited)

截至二零一五年六月三十日止六個月 （未經審計）

Turnover 營業額 Segment results 分部業績 Unallocated corporate expenses 未分配企業費用 Profit from operations 經營盈利 Finance costs 財務成本 Other income 其他收入 Fair value change on held for trading investment 持作買賣投資的 公允價值變動 Profit before taxation 除稅前盈利 Income tax expense 所得稅開支 Profit after taxation 除稅後盈利 Exchange differences 匯兌差額 Profit after taxation 除稅後盈利	Construction of infrastructure Credit business 基礎設施建設 信貸業務 RMB’000 RMB’000 人民幣千元 人民幣千元 168,400 4,851	Consolidated 合計 RMB’000 人民幣千元 173,251
	11,682 3,903	15,585
		(1,594) 13,991 – 37 (10,545) 3,483 (2,347) 1,136 182
		1,318

– 9 –

For the six months ended 30 June 2014

(Unaudited)

截至二零一四年六月三十日止六個月 （未經審計）

Turnover 營業額 Segment results 分部業績 Unallocated corporate expenses 未分配企業費用 Loss from operations 經營虧損 Finance costs 財務成本 Gain on disposal of subsidiaries 出售附屬公司收益 Profit before taxation 除稅前盈利 Income tax expense 所得稅開支 Profit after taxation 除稅後盈利 Exchange differences 匯兌差額 Profit after taxation 除稅後盈利 5. OTHER INCOME Interest income 利息收入 Sundry income 雜項收入	Construction of infrastructure Credit business 基礎設施建設 信貸業務 RMB’000 RMB’000 人民幣千元 人民幣千元 – 140
	(399) 139

On 26 November 2013, the Company and Shenzhen Chengxin have entered into a supplemental agreement to extend the payment terms regarding the disposal of 100% equity interests in Guangzhou Zhongzhen (the “Supplemental Agreement”). A penalty of 1.5% thereon, equivalent to RMB1.8 million has been charged on Shenzhen Chengxin due to the late payment pursuant to the Supplemental Agreement. On 6 January 2014, the Company received full payment of RMB120 million and a penalty of RMB1.8 million.

於二零一三年十一月二十六日，本公 司與深圳誠信訂立補充協議，將有關 出售廣州中展全部股本權益的還款期 限押後（「補充協議」）。根據補充協 議，深圳誠信因拖欠還款而被處1.5% 的罰款（相當於人民1,800,000元）。本 公司於二零一四年一月六日收妥人民 幣120,000,000元，同時收到罰金人民 幣1,800,000元。

– 10 –

6. GAIN ON DISPOSAL OF A SUBSIDIARY

6. 出售一間附屬公司收益

Gain on disposal of a subsidiary

出售一間附屬公司收益	30 June 2015 30 June 2014 二零一五年 六月三十日 二零一四年 六月三十日 (Unaudited) (Unaudited) （未經審計） （未經審計） RMB’000 RMB’000 人民幣千元 人民幣千元 – 45,677 – 45,677

On 13 August 2013, the Company entered into the disposal agreement with Shenzhen Chengxin regarding the disposal of 100% equity interests in Guangzhou Zhongzhen at the consideration of RMB280 million. The disposal was completed on 6 January 2014 but the remainder of RMB119 million was yet to be recovered. On 22 July 2014, the Company received from Shenzhen Chengxin a notice requesting for reduction of the consideration amount by RMB50 million (Please refer to the announcement of the Company dated 24 July 2014 for details). The reduction of the consideration by RMB50 million was approved by the Shareholders in the extraordinary general meeting of shareholders held on 29 December 2014. At the end of the Period, the balance of the consideration in the sum of RMB69 million had been received.

二零一三年八月十三日，本公司與 深圳誠信就出售廣州中展全部股本 權益簽訂出售協議，代價為人民幣 280,000,000 元。出售事項已於二零 一四年一月六日完成，餘額人民幣 119,000,000元還未收回。二零一四年 七月二十二日，本公司收到深圳誠信 希望減免代價金額人民幣50,000,000 元的函件（詳情請參閱本公司於二零 一四年七月二十四日發出的公告）。減 免代價人民幣50,000,000元已於二零 一四年十二月二十九日舉行的股東特 別大會上獲股東批准。本期末，已收 取代價餘額人民幣69,000,000元。

7. LOSS ON FAIR VALUE CHANGE OF HELD IN TRADING 7. 持作買賣投資公允價值變動損失 INVESTMENT

Listed investment 上市投資 Loss on fair value change of equity securities listed in Hong Kong 於香港上市之股本證券之 公允價值變動損失	30 June 2015 30 June 2014 二零一五年 六月三十日 二零一四年 六月三十日 (Unaudited) (Unaudited) （未經審計） （未經審計） RMB’000 RMB’000 人民幣千元 人民幣千元 10,545 – 10,545 –

The fair value of the listed securities is determined at the market price quoted by the Stock Exchange at the end of the Period.

上市證券的公允價值是按本期末聯交所所報 的市場價釐定。

– 11 –

8. INCOME TAX EXPENSE

8. 所得稅開支

30 June 30 June 2015 2014 二零一五年 二零一四年 六月三十日 六月三十日 (Unaudited) (Unaudited) （未經審計） （未經審計） RMB’000 RMB’000 人民幣千元 人民幣千元 Taxation of the Company and its 稅項包括 subsidiaries comprises 本公司及附屬公司 – – The PRC enterprise income tax －中國企業所得稅 2,347 – 2,347

Under the Law of the People’s Republic of China on Enterprise Income Tax (“EIT Law”) and the Implementation Regulation of the EIT Law, the tax rate of the Group is 25% from 1 January 2008 onwards.

根據中華人民共和國企業所得稅法及 企業所得稅法實施條例，自二零零八 年一月一日起，本集團的稅率為25%。

Pursuant to the Hong Kong laws and tax regulations, the profit tax rate is 17.5%. During the Period, the Group was not subject to Hong Kong profits tax.

根據香港法例及稅務條例，利得稅率 為17.5%。本期無須對香港利得稅進 行計提。

9. EARNINGS PER SHARE

9. 每股盈利

The calculation of earnings per share is based on the profit attributable to owners of the Company for the Period of RMB1,136,000 (2014 Corresponding Period: RMB44,111,000) and 1,044,410,000 shares (2014 Corresponding Period: 1,020,400,000 shares) the weighted average number of shares in issue during the Period.

每股盈利是根據本期本公司擁有人 應佔溢利人民幣 1,136,000 元（二零 一四年同期溢利：人民幣44,111,000 元），以及本期已發行股份加權平均數 1,044,410,000股（二零一四年同期： 1,020,400,000股）計算的。

No diluted earnings per share are disclosed as the Company has no dilutive potential shares for both periods.

由於本公司在兩期間內沒有構成攤薄 的潛在股份，所以並沒有披露經攤薄 的每股盈利。

10. DIVIDENDS

10. 股息

The Board resolved not to declare any dividend for the Period (2014 Corresponding Period: Nil).

董事會決議本期不派發任何股息（二零 一四年同期：無）。

– 12 –

11. GOODWILL

11. 商譽

Goodwill 商譽

30 June	31 December
2015	2014
二零一五年	二零一四年
六月三十日	十二月三十一日
(Unaudited)	(Audited)
（未經審計）	（經審計）
RMB’000	RMB’000
人民幣千元	人民幣千元
45,779	45,779

The goodwill of the Group was arisen from (i) the acquisition of 100% equity interests of Zhongfang Chaozhou and Chung Wah Finance.

本集團的商譽來自(i)收購中房潮州及 中華信貸100%股本權益。

At the end of the Period, the Directors consider no impairment on goodwill is required.

本期末，董事認為毋須作出商譽減值 撥備。

12. DEPOSIT PAID FOR ACQUISITION OF A SUBSIDIARY

12. 收購一間附屬公司所支付的訂金

Deposit paid for acquisition of Shenzhen Zhong De (as defined below) 收購深圳眾德（定義見下文） 所支付的訂金	30 June 2015 31 December 2014 二零一五年 六月三十日 二零一四年 十二月三十一日 (Unaudited) (Audited) （未經審計） （經審計） RMB’000 RMB’000 人民幣千元 人民幣千元 100,000 80,000 100,000 80,000

On 12 December 2014, Shenzhen Shen He, a whollyowned subsidiary of the Company, entered into the acquisition agreement with Shenzhen Newpont Investment Company Limited 深圳市新邦投資集團有限公司 in relation to the acquisition of 70% equity interests in Shenzhen Zhong De and the shareholder’s loan at a total consideration of RMB150,000,000. As of the end of the Period, Shenzhen Shen He paid a deposit totaling RMB100,000,000. As certain conditions precedent under the acquisition agreement were not satisfied, a termination agreement was entered into between the parties on 3 August 2015. Details of the termination are set out in note 23(d).

於二零一四年十二月十二日，深圳沈 和（本公司全資附屬公司）與深圳市新 邦投資集團有限公司訂立收購協議， 收購深圳眾德 70% 的股權及股東貸 款，總代價為人民幣150,000,000元。 截至本期末，深圳沈和共支付訂金人 民幣 100,000,000 元。由於未達成收 購協議約定的若干先決條件，於二零 一五年八月三日，雙方簽訂了終止協 議。有關終止之詳情於附註23(d)中披 露。

– 13 –

13. DEPOSIT PAID FOR ACQUISITION OF PROPERTY, PLANT AND EQUIPMENT

13. 收購物業、廠房及設備所支付的訂金

Deposit paid for acquisition of property

收購物業支付的訂金	30 June 2015 31 December 2014 二零一五年 六月三十日 二零一四年 十二月三十一日 (Unaudited) (Audited) （未經審計） （經審計） RMB’000 RMB’000 人民幣千元 人民幣千元 22,000 – 22,000 –

On 16 March 2015, Shenzhen Shen Shang, a whollyowned subsidiary of the Company, entered into a sale and purchase agreement with an independent third party, to acquire commercial premise comprising 40 property units with a total gross floor area of 2,262.66 square meters in Panyu, Guangzhou (“Panyu Property”) at a total consideration of RMB43,217,263. As of the end of the Period, Shenzhen Shen Shang paid a deposit of RMB22,000,000. As it is expected that the property is unable to complete the title ownership transfer in a timely manner, a termination agreement was entered into between the parties on 3 August 2015. Details of the termination are disclosed in note 23(e).

於二零一五年三月十六日，深圳沈商 （本公司全資附屬公司）與獨立第三方 簽訂《房屋買賣協議》，以收購座落於 廣州市番禹區共40個商用物業（「番禹 物業」），總建築面積為2,262.66平方 米，總代價為人民幣43,217,263元。 截至本期末，深圳沈商共支付訂金人 民幣22,000,000元。由於預計該物業 無法按時完成產權過戶，於二零一五 年八月三日，雙方簽訂了終止協議。 有關終止之詳情於附註23(e)中披露。

14. PROPERTIES UNDER DEVELOPMENT

14. 發展中物業

The analysis of properties under development of the Group as at the end of the Period is set out as follows:

本集團的發展中物業於本期末分析情 況如下：

		30 June	31 December
		2015	2014
		二零一五年	二零一四年
		六月三十日	十二月三十一日
		(Unaudited)	(Audited)
		（未經審計）	（經審計）
		RMB’000	RMB’000
		人民幣千元	人民幣千元
Properties under development	發展中物業	315,574	461,136

The Group principally engages in construction of infrastructure. The properties under development at the balance sheet date were mainly contributed by land development cost and other related expenses of Zhongfang Chaozhou.

本集團主要業務為基礎設施建設，於 結算日發展中物業主要為中房潮土地 開發成本和其他相關開支。

– 14 –

15. LOAN AND INTEREST RECEIVABLES

15. 應收貸款及利息

The analysis of interest receivables of the Group as at the end of the Period is as follows:

本集團的應收利息於本期末分析情況 如下：

Current position 流動部分 Non-current position 非流動部分	30 June 2015 31 December 2014 二零一五年 六月三十日 二零一四年 十二月三十一日 (Unaudited) (Audited) （未經審計） （經審計） RMB’000 RMB’000 人民幣千元 人民幣千元 170,560 40,614 – 58 170,560 40,672

The above receivables represent the loan and related interest from the borrowings made by Chung Wah Finance to the borrower.

上述應收款項為中華信貸向借款人借 出的貸款及相關貸款利息。

At the end of Period, none of the loan and interest receivable was past due but not impaired (2014: Nil).

本期末，概無應收貸款及利息已逾期 但未減值（二零一四年：無）

The loan receivables outstanding at the balance sheet date are denominated in Hong Kong dollars.

於結算日尚未償還之應收貸款以港元 計值。

16. TRADE RECEIVABLES

16. 應收賬款

The analysis of trade receivables of the Group as at the end of the Period is set out as follows:

本集團的應收賬款於本期末分析情況 如下：

Trade receivables 應收賬款 Less: Allowance for doubtful debts 減：呆賬撥備 Trade receivables, net 應收賬款淨額	30 June 2015 31 December 2014 二零一五年 六月三十日 二零一四年 十二月三十一日 (Unaudited) (Audited) （未經審計） （經審計） RMB’000 RMB’000 人民幣千元 人民幣千元 197,401 28,200 – – 197,401 28,200

The Group allows an average credit period of 90-180 days (2014: 90-180 days) to its trade customers. Among the Group’s trade receivables balance, none of the trade receivables which are past due but not impaired (2014: Nil). The Group does not hold any collateral over these balances.

本集團給予其貿易客戶90至180天的 平均信貸期（二零一四年：90 至 180 天）。本集團應收賬款結餘中，概無任 何已逾期並未出現減值（二零一四年： 無）應收賬款。本集團無就該等結餘持 有任何抵押品。

– 15 –

17. PREPAYMENTS, DEPOSITS AND OTHER RECEIVABLES

17. 預付款項、按金及其他應收賬款

The analysis of other receivables of the Group as at the end of the Period is set out as follows:

本集團的其他應收款於本期末分析情 況如下：

Consideration receivables for the disposal of Guangzhou Zhongzhan 出售廣州中展的應收代價 Prepayments and other receivables 預付款項及其他應收賬款	30 June 2015 31 December 2014 二零一五年 六月三十日 二零一四年 十二月三十一日 (Unaudited) (Audited) （未經審計） （經審計） RMB’000 RMB’000 人民幣千元 人民幣千元 – 69,000 53,662 33,330 53,662 102,330

During the Period, consideration receivable for the disposal of Guangzhou Zhongzhan in the sum of RMB69 million has been received.

本期已收到就出售廣州中展為數人民 幣69,000,000元之應收代價。

The management considered that the carrying amounts of other receivables approximate their fair values.

管理層認為其他應收款項的賬面值與 其公允價值相約。

18. BANK BALANCES AND CASH

18. 銀行結餘及現金

The bank balances and cash are mainly denominated in RMB and deposited with banks in the PRC. The RMB is not freely convertible into other currencies, however, under Mainland China’s Foreign Exchange Control Regulations and Administration of Settlement, Sale and Payment of Foreign Exchange Regulations, the Group is permitted to exchange RMB for other currencies through banks authorised to conduct foreign exchange business. The bank balances are deposited in creditworthy banks with no recent history of default.

銀行結餘及現金主要以人民幣計值， 並存放在位於中國的銀行。人民幣不 能自由兌換成其他貨幣。然而，根據 中國內地《外匯管理條例》及《結匯、售 匯及付匯管理規定》，本集團可過獲授 經營外匯業務的銀行將人民幣兌換成 其他貨幣。銀行結餘存於近期無違約 紀錄且信譽良好的銀行。

The bank balances carry interest at average market rates of 0.35% (2014: 0.35%) per annum as of 30 June 2015.

截至二零一五年六月三十日止，銀行 結餘按年平均市場利率0.35%（二零 一四年：0.35%）計算利息。

– 16 –

19. TRADE PAYABLES

19. 應付賬款

An aged analysis of trade payables of the Group as at the end of the Period is set out as follows:

本集團的貿易性應付賬款於本期末賬 齡分析情況如下：

Within 90 days 90日內 Over 90 days 90日以上	30 June 2015 31 December 2014 二零一五年 六月三十日 二零一四年 十二月三十一日 (Unaudited) (Audited) （未經審計） （經審計） RMB’000 RMB’000 人民幣千元 人民幣千元 – 874 107,669 130,288 107,669 131,162

The trade payables as at the end of the Period were contributed by land development cost and other related expenses which are payable based on project progress estimated by the Group. The management considered that the carrying amounts of trade payables approximate their fair values.

本期末應付賬款為土地開發費用及其 他相關開支，根據本集團估計的項目 工程進度支付。管理層認為應付賬款 的賬面值與其公允價值相約。

20. ADVANCED PROCEEDS RECEIVED FROM CUSTOMERS

20. 已收客戶預付款項

Advanced proceeds received from 已收客戶預付 customers 款項

30 June	31 December
2015	2014
二零一五年	二零一四年
六月三十日	十二月三十一日
(Unaudited)	(Audited)
（未經審計）	（經審計）
RMB’000	RMB’000
人民幣千元	人民幣千元
77,000	37,200

At the balance sheet date, the advanced proceeds received from customers represented advanced payment from the customer of Zhongfang Chaozhou in relation to the construction work. The balance was unsecured, interest free and will be used to settle the contract price of the Zhongfang Chaozhou Jing Nan Industrial Park Project.

於結算日，已收客戶預付款項為中房 潮州客戶已就施工支付的預付款項。 結餘為無抵押、免息且將支付位於中 房潮州徑南工業園項目合約價。

– 17 –

21. SHARE CAPITAL

21. 股本

30 June 2015 31 December 2014 二零一五年六月三十日 二零一四年十二月三十一日 (Unaudited) (Unaudited) （未經審核） （未經審核） No of Shares RMB’000 No of Shares RMB’000 股份數目 人民幣千元 股份數目 人民幣千元 Registered, Issued and fully paid 註冊、已發行及繳足 Domestic Shares of 每股面值人民幣 1 元之 RMB1 each 內資股 Beginning of the year 年初 600,000,000 600,000 600,000,000 600,000,000 Issue of Domestic Shares (note a) 發行內資股（附註a） 120,000,000 120,000 – – End of the Period 本期末 720,000,000 720,000 600,000,000 600,000,000 H Shares of RMB1 each 每股面值人民幣 1 元之 H 股 Beginning of the year 年初 420,400,000 420,400 420,400,000 420,400 Issue of H Shares (note b) 發行H股（附註b） 84,080,000 84,080 – – End of the Period 本期末 504,480,000 504,480 420,400,000 420,400 Total 總計 1,224,480 1,020,400 (a) On 9 June 2015, the Company completed the issuance of (a) 於二零一五年六月九日，本公司完成 120,000,000 Domestic Shares at the price of RMB1 each 根據一般授權發行120,000,000股內 under the General Mandate. 資股，發行價為每股人民幣1元。 (b) On 5 May 2015, the Company and the placing agent, (b) 本公司與配售代理成功於二零一五 completed the placing of the total of 84,080,000 H shares at 年五月五日根據一般授權配售總計 the price of RMB1 per share (equivalent to HK$1.25) under 84,080,000股H股，增發價為每股人 the General Mandate. 民幣1元（相於當1.25港元）。

22. CAPITAL COMMITMENT

22. 資本承擔

30 June 31 December 2015 2014 二零一五年 二零一四年 六月三十日 十二月三十一日 (Unaudited) (Audited) （未經審計） （經審計） RMB’000 RMB’000 人民幣千元 人民幣千元 Capital expenditure in respect of 有關開發活動的 development activities contracted for 已訂約但尚未於 but not provided in the consolidated 綜合財務報表內撥備的 financial statements 資本開支 213,781 224,214

The capital commitment as at the end of the Period mainly 本期末資本承擔主要為中房潮州人民 comprised the capital expenditure of Zhongfang Chaozhou 幣213,781,000元的資本開支。 amounting to RMB213,781,000.

– 18 –

23. EVENTS AFTER THE END OF THE PERIOD

• (a) On 23 July 2015, Zhongfang Chaozhou, a wholly owned subsidiary of the Company completed the acquisition of 8,500,000 shares of Chaozhou Rural Credit Cooperative *潮州市區農村信用合作 聯社 at a total consideration of RMB12,750,000, representing 4.96% of the total issued share of Chaozhou Rural Credit Cooperative. The subscription price per share is RMB1.5. This transaction does not constitute any notifiable transaction of the Company under Chapter 14 of the Listing Rules.

• (b) On 27 July 2015, Shenzhen Cheng He, a whollyowned subsidiary of the Company, entered into a conditional acquisition agreement to acquire 30% equity interest of Guangzhou Hai Yue Real Estate Development Company Limited*廣州海 粵房地產發展有限公司 for a consideration of RMB195,000,000. For the details, please refer to the announcements of the Company dated 27 July 2015.

• (c) On 31 July 2015, Shenzhen Cheng He, a whollyowned subsidiary of the Company, entered into a conditional share subscription agreement to subscribe 11,250,000 shares issued by Wuhan Yi Da Construction Services Shares Company Limited* 武漢翼達建設服務股份有限公司 at a consideration of RMB50,000,000. For the details, please refer to the announcement of the Company dated 31 July 2015.

• (d) On 3 August 2015, Shenzhen Shen He, a whollyowned subsidiary of the Company, entered into a termination agreement (the “Termination Agreement”) to terminate the acquisition agreement to acquire 70% of the issued share capital of Shenzhen Zhong De. Pursuant to the Termination Agreement, the consideration paid in the sum of RMB100,000,000 together with the liquidated compensation of RMB2,000,000 to be refunded to the Group. At as the date of this announcement, the consideration paid and the compensation in the sum of RMB102,000,000 has been received by the Group. For the details, please refer to the announcement of the Company dated 3 August 2015.

23. 期末後事件

• (a) 於二零一五年七月二十三日， 中房潮州（本公司全資附屬公 司）以總代價人民幣12,750,000 元完成收購潮州市區農村信用 合作聯社8,500,000股股份，佔 潮州市區農村信用合作聯社全 部已發行股本4.96%，認購價 為每股人民幣1.5元。此交易並 不構成本公司根據上市規則第 14章之任何須予公佈交易。

• (b) 於二零一五年七月二十七日， 深圳城合（本公司全資附屬公 司）訂立有條件收購協議，按代 價人民幣 195,000,000 元收購 廣州海粵房地產發展有限公司 30%股本權益。有關詳情，請 參閱本公司日期為二零一五年 七月二十七日之公告。

• (c) 於二零一五年七月三十一日， 深圳城合（本公司全資附屬公 司）訂立有條件股份認購協議， 以按代價人民幣50,000,000元 認購武漢翼達建設服務股份有 限公司發行之11,250,000股股 份。有關詳情，請參閱本公司 日期為二零一五年七月三十一 日之公告。

• (d) 於二零一五年八月三日，深圳 沈和（本公司全資附屬公司）訂 立終止協議（「終止協議」），以 終止收購深圳眾德已發行股本 70%。根據終止協議，已付代 價為數人民幣 100,000,000 元 連同違約金人民幣2,000,000元 將退還予本集團。於本公告日 期，本集團已收取為數人民幣 102,000,000 元之已付代價及 違約金。有關詳情，請參閱本 公司日期為二零一五年八月三 日之公告。

– 19 –

• (e) On 3 August 2015, Shenzhen Shen Shang, a wholly-owned subsidiary of the company, entered into a termination agreement (the “Panyu Termination Agreement”) to terminate the acquisition of the Panyu Property. Pursuant to the Panyu Termination Agreement, the deposit paid in the sum of RMB2,200,000 shall be refunded to Shenzhen Shen Shang within 30 days from the date of the Panyu Termination Agreement. As at the date of this announcement, the deposit paid of RMB2,200,000 has been received by the Group. This transaction does not constitute any notifiable transaction of the Company under Chapter 14 of the Listing Rules.

MANAGEMENT DISCUSSION AND ANALYSIS

Financial Review

During the Period, the turnover of the Group amounted to approximately RMB173,251,000 (2014 Corresponding Period: RMB140,000), representing a very significant increase in revenue comparing with that of the six months ended 30 June 2014. The substantial increase in turnover is mainly due to the fact that the acceptances of the completion and transfer of 800-mu construction land of Zhongfang Chaozhou Jing Nin Industrial Park Project has been completed, while no acceptance of completion and transfer in the 2014 Corresponding Period. Profit after taxation and minority interests amounted to approximately RMB1,316,000 (2014 Corresponding Period: RMB44,111,000). Earnings per share was approximately RMB0.0011 (2014 Corresponding Period: RMB0.0432).

BUSINESS REVIEW

Infrastructure Construction Business

As of the date of this announcement, Zhongfang Chaozhou, a wholly-owned subsidiary of the Company has substantially completed Zhongfang Chaozhou Jing Nan Industrial Park Project. During the Period, Chaozhou Jinshan has confirmed the acceptance of completion and transfer of the 800-mu construction land pursuant to the cooperation agreement. Accordingly, revenue of approximately RMB168,400,000 has been recognized in the financial statements.

The acceptance of completion and transfer of the remaining 1,700-mu construction land is still in progress. The Board is liaising with Chaozhu Jinshan to expedite the confirmation of the acceptance of completion and transfer of the remaining construction land.

• (e) 於二零一五年八月三日，深圳 沈商（本公司全資附屬公司）訂 立終止協議（「番禹終止協議」） 以終止收購番禹物業。根據番 禹終止協議，已付訂金為數人 民幣 2,200,000 元將自番禹終 止協議日期起計 30 日內退還 予深圳沈商。於本公告日期， 本集團已收取已付訂金人民幣 2,200,000元。此交易並不構成 本公司根據上市規則第14章之 任何須予公佈交易。

管理層討論與分析

財務回顧

於本期，本集團實現營業額約為人民幣 173,251,000 元（二零一四年同期：人民幣 140,000元），比較截至二零一四年六月三十 日止六個月收入有相當大幅之增加；營業額 大幅增加主要是由於中房潮州徑南工業園800 畝建設用地已完成驗收交付工作，而二零 一四年同期尚未完成驗收交付工作。除稅及 少數股東權益後盈利約為人民幣1,316,000元 （二零一四年同期：人民幣44,111,000元）， 每股盈利約為人民幣0.0011元（二零一四年同 期：人民幣0.0432元）。

業務回顧

基礎設施建設業務

截至本公告日期，本公司全資附屬公司中房 潮州大致上完成了中房潮州徑南工業園項 目。本期，潮州金山已確認完成根據合作協 議對800畝建設用地的驗收交付工作。因此， 收入約人民幣168,400,000元已於財務報表中 確認。

餘下1,700畝建設用地的驗收交付工作仍在進 行中。董事會正與潮州金山洽商加快確認對 餘下建設用地的驗收交付工作。

– 20 –

Credit Business

Following the acquisition of Chung Wah Finance in 2014, the Group expanded the credit business in Hong Kong. During the Period, revenue of interest income of approximately RMB4,850,000 has been recognized, comparing with RMB140,000 for the 2014 Corresponding Period.

Held for Trading Investments

Same as previous years, the Group invested surplus fund in equity securities listed in Hong Kong. At 30 June 2015, market value of Hong Kong listed equities amounted to RMB46,900,000 (2014: RMB nil) and a loss of approximately RMB10,545,000 (2014 Corresponding Period: nil) arising from the fair value change on held for trading investment was incurred. The loss reflected the change of market sentiment on Hong Kong stock market. The Board is confident on Hong Kong stock market in the long term.

Donation

The Group made a donation of RMB1,000,000 to Chaozhou Charity Federation, designated for a foundation for cultural welfare in Chaozhou, for developing the fine cultural characteristics of Chaozhou, promoting Chaozhou cultural heritage and advancing the excellence of the traditional Chinese culture.

Acquisition and investments made after the Period

The Group has made certain acquisitions and equity investment after the Period, details of which are disclosed in Note 23 to the interim financial information.

Business Prospects

The Group will continue to focus on the infrastructure construction business and develop the credit business in Hong Kong. The Board expects that, with the gradual completion of acceptance of the completion and transfer of Zhongfang Chaozhou Jing Nan Industrial Park Project and the completion of the issuance of Domestic Shares and H Shares, the Group will have abundant liquidity flows. The Group will actively develop the existing financial business and identify other infrastructure construction projects as well as other potential business opportunities.

The Group will endeavour to maximise the returns to Shareholders of the Company.

信貸業務

繼二零一四年收購中華信貸後，本集團擴大 香港的信貸業務。本期已確認利息收入約人 民幣4,850,000元，而二零一四年同期為人民 幣140,000元。

持作買賣投資

與以往數年相同，本集團以盈餘資金投資 於香港上市的股本證券。於二零一五年六 月三十日，香港上市股票市值為人民幣 46,900,000元（二零一四年同期：無），而因 持作買賣投資的公允價值變動產生的虧損約 為人民幣10,545,000元（二零一四年同期： 無）。虧損反映香港股市的市場氣氛轉變。董 事會對香港長遠的股票市場有信心。

捐獻

本集團向潮州慈善總會捐款人民幣1,000,000 元。定向捐贈至潮州文化公益基金會，用作 弘揚潮州優秀文化特質，推動潮州文化傳 承，發揚中華優秀傳統文化。

本期後作出之收購及投資

本集團於本期後作出若干收購及股本投資。 有關詳情於中期財務資料附註23中披露。

業務展望

本集團將繼續專注基礎設施建設業務，並發 展香港地區信貸業務。董事會預期，隨著中 房潮州徑南工業園項目的完工交付驗收逐步 完成，及在完成內資股及H股發行的前提下， 本集團將擁有充裕的流動資金。本集團將積 極發展現有金融業務，尋求其他基礎設施建 設項目及物色其他具有潛力的業務。

本集團將努力為本公司股東帶來最大回報。

– 21 –

ENLARGING SHARE CAPITAL

During the Period, the Company has completed the issuance of H-Shares and Domestic Shares as follow:

H-Shares

On 5 May 2015, the Company completed the placing of 84,080,000 H-Shares of the Company at the placing price of HK$1.25 (approximately RMB1.00) per share to third parties independent of the Company and raised net proceeds of approximately of HK$103.6 million for general working capital. For the details, please refer to the announcements of the Company dated 22 April and 5 May 2015.

Domestic Shares

On 9 June 2015, the Company completed the issuance of 120,000,000 Domestic Shares at the price of RMB 1 per share to third parties independent of the Company and raised net proceed of approximately RMB119,500,000 for general working capital. For the details, please refer to the announcements of the Company dated 22 May and 9 June 2015.

Following the completion of the placing of 84,080,000 H-Shares and issuance of 120,000,000 Domestic Shares, the share capital of the Company increased from RMB1,020,400,000 as at 31 December 2014 to RMB1,224,480,000 at the end of the Period, comprising 720,000,000 Domestic Shares of RMB 1 each and 504,480,000 H-Shares of RMB 1 each.

LIQUIDITY AND FINANCIAL RESOURCES

With a prudent financial management policy and a solid financial position, the working capital of the Group is usually financed by its internally generated resources. As of 30 June 2015, the Group had net current assets of approximately RMB623,062,000 (31 December 2014: RMB460,722,000), including cash and cash equivalents of RMB27,652,000 (31 December 2014: RMB7,881,000).

As of 30 June 2015, the Group had no bank borrowings. The Group’s current ratio (current assets/current liabilities) and gearing ratio (total liabilities/total assets) was 4.3 (As of 31 December 2014: 3.5) and 19.24% (As of 31 December 2014: 23.59%), respectively.

MATERIAL ACQUISITION AND DISPOSAL OF SUBSIDIARIES AND ASSOCIATE COMPANIES

There was no material acquisition or disposal of subsidiaries and associate companies of the Company during the Period.

SIGNIFICANT INVESTMENTS

During the Period, the Company did not hold any significant investments.

擴大股本

於本期，本公司完成發行H股及內資股如下：

H 股

於二零一五年五月五日，本公司完成向獨立 於本公司的第三方配售84,080,000股本公司 H 股，配售價每股 1.25 港元（約人民幣 1.00 元），集資所得款項淨額約 103,600,000 港 元，用作一般營運資金。有關詳情，請參閱 本公司日期分別為二零一五年四月二十二日 及五月五日的公告。

內資股

於二零一五年六月九日，本公司完成向獨立 於本公司的第三方發行120,000,000股內資 股，發行價每股人民幣1元，集資所得款項淨 額約人民幣119,500,000元，用作一般營運資 金。有關詳情，請參閱本公司日期分別為二 零一五年五月二十二日及六月九日的公告。

繼完成配售 84,080,000 股 H 股及發行 120,000,000股內資股後，本公司股本由二零 一四年十二月三十一日人民幣1,020,400,000 元增至本期末人民幣1,224,480,000元，包括 720,000,000股每股面值人民幣1元的內資股 及504,480,000股每股面值人民幣1元的H股。

流動資金與財務資源

本集團遵循審慎財務管理政策以及擁有良好 的財務狀況，一般以內部產生之資源作為營 運資金。於二零一五年六月三十日，本集 團擁有流動資產淨值約人民幣623,062,000 元（二零一四年十二月三十一日：人民幣 460,722,000元），其中包括現金及現金等價 物人民幣27,652,000元（二零一四年十二月 三十一日：人民幣7,881,000元）。

於二零一五年六月三十日，本集團並無銀行 貸款。本集團的流動比率（流動資產╱流動負 債）及資產負債比率（總負債╱總資產）分別 為4.3（於二零一四年十二月三十一日：3.5） 及19.24%（於二零一四年十二月三十一日： 23.59%）。

重大收購及出售附屬及聯營公司

於本期，本公司沒有重大收購及出售附屬及 聯營公司。

重大投資

於本期，本公司並無持有任何重大投資。

– 22 –

NUMBER OF EMPLOYEES, EMOLUMENTS, TRAINING SCHEMES AND SHARE OPTION SCHEMES

As at 30 June 2015, the Group employed a total of 43 employees (including the directors of the Company) and emoluments during the Period amounted to approximately RMB1,764,000 (2014: RMB2,097,000) in total. The Group has entered into employment contracts with all employees, and offered them with different emoluments according to their positions. The Group also made contributions to endowment insurance, basic medical insurance and housing reserves for all the employees in accordance with the relevant laws of the PRC. As at the date of this announcement, the Group has not adopted any share option scheme for any of its senior management or employees.

ASSETS SECURED/PLEDGED

As at 30 June 2015, no asset of the Group was secured or pledged (2014: Nil).

SEGMENTAL INFORMATION

Details of segmental information are set out in Note 4 to the interim financial information.

CURRENCY RISKS

The revenues and expenses of the Group are mainly denominated in Renminbi. As at 30 June 2015, the Group had no significant risks due to foreign exchange contracts, interests, currency swaps or other financial derivatives.

CONTINGENT LIABILITIES

As at 30 June 2015, the Group had no significant contingent liabilities (2014: Nil).

OTHER INFORMATION

Code of Corporate Governance

The Company has complied with all of the code provisions of the Corporate Governance Code and Corporate Governance Report (“CG Code”) as set out in Appendix 14 to the Listing Rules during the six months ended 30 June 2015, except the following:

Code provision A.1.8 of the CG Code requires that the Company should arrange appropriate insurance cover in respect of legal action against its directors. The Company did not arrange such insurance cover during the Period as Directors considered that the risk of material legal claims against Directors is minimal. Nevertheless, the Board will review this arrangement from time to time in light of the prevailing circumstances and arrange for appropriate insurance coverage when necessary.

僱員人數及薪酬、培訓計劃及購股權計 劃

於二零一五年六月三十日，本集團共聘用43 名僱員（包括本公司董事在內），於本期提供 薪酬總額約為人民幣1,764,000元（二零一四 年：人民幣2,097,000元）。本集團與全體僱 員均已簽署聘用合同，根據僱員所在不同崗 位，按相應標準分別提供不同薪酬。同時， 根據中國有關法律規定，本集團為全體僱員 交納養老保險金、基本醫療報銷金和住房公 積金。於本公告日期，本集團尚無制定任何 高級管理人員或職工認股權計劃。

資產抵押╱質押

於二零一五年六月三十日，本公司並無任何 資產抵押及質押（二零一四年：無）。

分部資料

分部資料詳載於中期財務資料附註4。

外匯風險

本集團之收益及開支主要以人民幣計值。於 二零一五年六月三十日，本集團概無因外匯 合約、利息、貨幣掉期或其他金融衍生工具 而面臨重大風險。

或然負債

於二零一五年六月三十日，本集團並無任何 重大或然負債（二零一四年：無）。

其他資料

企業管治守則

本公司已於截至二零一五年六月三十日止六 個月遵守上市規則附錄十四所載之企業管治 守則及企業管治報告（「企管守則」），惟下文 除外：

企管守則之守則條文A.1.8規定，本公司應就 對其董事之法律行動投購合適之保險覆蓋。 由於董事認為對董事提出重大法律索償之風 險不大，故本期本公司並無投購有關保險覆 蓋。然而，董事會將視乎當前狀況不時檢討 此安排，並於有需要時投購合適之保險覆蓋。

– 23 –

Model Code for Securities Transactions by Directors

The Company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers set out in Appendix 10 to the Listing Rules as the code for dealing in securities of the Company by the directors. Having made enquiry of all the directors of the Company, the Company confirms that all the directors of the Company have complied with the required standard set out in the Model Code for the Period.

董事進行證券交易之標準守則

本公司已採納載於上市規則附錄十之上市發 行人之董事進行證券交易之標準守則，作為 本公司董事買賣證券之守則。經向本公司全 體董事作出查詢後，本公司確認所有董事於 本期已遵守載於標準守則之規定標準。

Purchase, Sale or Redemption of Listed Securities of the Company

Neither the Company, nor any of its subsidiaries has purchased, redeemed or sold any of the listed securities of the Company during the six months ended 30 June 2015.

購買、銷售或贖回本公司上市證券

截至二零一五年六月三十日止六個月期間， 本公司及其附屬公司概無購買、贖回或銷售 本公司任何上市證券。

Review of Interim Results

The Audit Committee has reviewed the unaudited condensed financial information of the Group for the six months ended 30 June 2015.

審閱中期業績

審核委員會已審閱截至二零一五年六月三十 日止六個月之本集團未經審核簡明財務資料。

Interim Dividend

The Board does not recommend the payment of interim dividends for the six months ended 30 June 2015 (2014 Corresponding Period: Nil).

中期股息

董事會不建議就截至二零一五年六月三十日 止六個月派發中期股息（二零一四年同期： 無）。

GLOSSARY

專用詞彙

In this announcement, unless the context otherwise requires, the following expressions shall have the following respective meanings.

於本公告，除文義另有所指，以下詞彙具有 以下涵義。

“Board” 「董事會」

the board of Directors 董事會

“Company” 「本公司」

Shenyang Public Utility Holdings Company Limited* 瀋陽公用發展股份有限公司

“Chaozhou Jinshan”

「潮州金山」

Chaozhou Jinshan Investment and Development Company Limited* 潮州市金山投資開發有限公司

“Chung Hwa Finance“

「中華信貸」

Chung Hwa Finance Limited (formerly known as Newpont Finance Limited)

中華信貸有限公司（前稱新邦信貸有限公司）

“Director(s)”

「董事」

the directors of the Company 本公司董事

“Domestic Shares”

「內資股」

domestic shares with a nominal value of RMB1 each in the share capital of the Company which are subscribed for in RMB 本公司股本中每股面值人民幣1元的內資股，以人民幣認購

– 24 –

“General Mandate”	the general mandate granted to the Directors by the Shareholders at the
	annual general meeting of the Company held on 27 June 2014, pursuant
	to which the Directors are authorised to allot, issue and deal with each of
	the H-Shares and Domestic Shares with an aggregate nominal amount of
	up to but not exceeding 20% of the then aggregate nominal amount of
	H-Shares and Domestic Shares, respectively
「一般授權」	於二零一四年六月二十七日舉行之本公司股東週年大會上由股東授權予
	董事之一般授權，據此，董事獲授權配發、發行及處理H股及內資股的
	面值總額各自不得超過H股及內資股當時的面值總額的20%
“Group”	the Company and its subsidiaries
「本集團」	本公司及其附屬公司
“Guangzhou Zhongzhan”	Guang Zhongzhan Investment Holdings Company Limited*
「廣州中展」	廣州市中展投資控股有限公司
“Hong Kong”	the Hong Kong Special Administrative Region of the People’s Republic of
	China
「香港」	中華人民共和國香港特別行政區
“H-Shares”	overseas listed foreign ordinary share(s) of the Company with a nominal
	value of RMB1 each, all of which are listed on the main board of the
	Stock Exchange and subscribed for and traded in Hong Kong dollars
「H股」	本公司股本中每股面值人民幣1元之境外上市外資普通股，全部均在聯
	交所主板上市及以港元認購及買賣
“Kingma Overseas”	Kingma Overseas Investment Development Corporate Limited
「金馬海外」	金馬海外投資發展有限公司
“Listing Rules”	the Rules Governing the Listing of Securities on the Stock Exchange
「上市規則」	聯交所證券上市規則
“Model Code”	Model Code for Securities Transactions by Directors of Listed Issuers
「標準守則」	上市發行人董事進行證券交易的標準守則
“Period”	for the six months ended 30 June 2015
「本期」	截至二零一五年六月三十日止六個月
“PRC”	the People’s Republic of China
「中國」	中華人民共和國
“RMB”	Renminbi, the lawful currency of the PRC
「人民幣」	中國法定貨幣人民幣
“SFO”	Securities and Futures Ordinance (Chapter 571 of the law of Hong Kong)
「證券及期貨條例」	證券及期貨條例（香港法例571章）
“Share”	H-Share(s) and Domestic Share(s)
「股份」	H股及內資股

– 25 –

“Shareholders” 「股東」

“Shenzhen Chengxin” 「深圳誠信」

holders of the H-Shares and Domestic Shares H股及內資股持有人 Shenzhen Chengxin Xingye Trading Company Limited* 深圳市誠信興業貿易有限公司

“Shenzhen Cheng He” 「深圳城合」

Shenzhen Cheng He Chuang Jian Investment Development Company Limited* 深圳市城合創建投資發展有限公司

“Shenzhen Shen He”

「深圳沈和」

Shenzhen Shen He Chuang Jian Investment Development Company Limited 深圳市沈和創建投資發展有限公司

“Shenzhen Shen Shang”

「深圳沈商」

Shenzhen Shen Shang Chuang Jian Investment Development Company Limited 深圳市沈商創建投資發展有限公司

“Shenzhen Zhong De”

「深圳眾德」

Shenzhen Zhong De Logistics Company Limited 深圳市眾德物流有限公司

“Stock Exchange” 「聯交所」

The Stock Exchange of Hong Kong Limited 香港聯合交易所有限公司

“Zhongfang Chaozhou” 「中房潮州」

Zhongfang Chaozhou Investment Development Company Limited* 中房潮州投資開發有限公司

“Zhongfang Chaozhou Jing Nan Industrial Park Project” 「中房潮州徑南工業園項目」

the infrastructure construction project of Jing Nan Industrial Park in Chaozhou 潮州徑南工業園的基建設施建設項目

“2014 Corresponding Period” 「二零一四年同期」

for the six months ended 30 June 2014 截至二零一四年六月三十日止六個月

• For identification purpose only

• 僅供識別

By order of the board of

Shenyang Public Utility Holdings Company Limited Zhang Jing Ming Chairman

承董事會命

瀋陽公用發展股份有限公司 張敬明 董事長

Shanyang, the PRC, 28 August 2015

中國，瀋陽，二零一五年八月二十八日

As at the date of this announcement, the executive directors of the Company are Mr. Zhang Jing Ming, Mr. Deng Xiao Gang and Mr. Huang Zhen Kun, the non-executive directors are Mr. Yin Zong Chen and Ms. Li Yu Xiang and the independent nonexecutive directors are Mr. Chan Ming Sun Jonathan, Mr. He Qing Jia and Mr. Yu Guan Jian.

在本公告發出日，本公司之執行董事為張敬 明先生、鄧曉綱先生及黃鎮坤先生；非執行 董事為尹宗臣先生及李玉香女士；及獨立非 執行董事為陳銘燊先生、何慶佳先生及余關 健先生。

– 26 –