方兴地产 2009 中期报告

管理層討論與分析MANAgEMENT DISCuSSION AND ANAlySIS

二、業務回顧

綜述

回顧期內，本集團在重組併購、業務運營及市場開拓方面均有較大進展。年初，本集團完成了中國金茂（集團）有限公司（「金茂集團」）剩餘26.77%權益的收購，進一步將物業開發、物業租賃及酒店經營三大板塊有效整合。期內上海港國際客運中心地塊B項目三號樓達成銷售意向並有兩幢樓完成了與業主的交接，金茂深圳JW萬豪酒店也已開始正式營業，各項投資物業仍保持較高的出租率和租金水平，三大板塊業務穩步發展。本集團還成功投得被業界譽為「絕版黃金地塊」的北京市廣渠路15號地塊，作為本集團在北京房地產市場發展的戰略土地儲備，為本集團物業開發板塊持續發展提供保證。

物業開發板塊

今年上半年隨着國內房地產市場的回暖，本集團物業開發項目銷售及預售均取得較好成績。

已竣工的珠海每一間花園項目（位於珠海情侶路北側）抓住市場回暖時機，採取多種營銷策略，積極銷售未售樓盤。截至2009年6月30日，本集團已累計出售598套單位，約81,612平方米，佔可供出售總面積的79%。其中今年上半年出售38套單位，約4,768平方米。目前，本集團佔有珠海每一間花園項目100%的權益。

發展中的上海港國際客運中心地塊B項目（位於上海虹口北外灘黃浦江西岸）大都已完成了銷售或預售，其中有兩幢寫字樓約31,034平方米在上半年完成了與業主的交接，實現了銷售收入；同時上半年也達成了對上海港國際客運中心地塊B項目三號樓的銷售意向，至此該項目的十一幢寫字樓中已有九幢實現了銷售或達成銷售意向。銷售及達成銷售意向的面積佔預計竣工後可供出售總建築面積的77%。2. BuSINESS REvIEW

Overview

During the period under review, the Group had made remarkable progress on restructuring, merger and acquisition, business operation and market exploration. At the beginning of the year, the Group completed the acquisition of the remaining 26.77% interest in China Jin Mao (Group) Company Limited (“Jin Mao Group”), resulting in the further effective integration of our three business segments, namely, property development, property leasing, and hotel operation. During the period under review, a letter of intent for sale of Building No. 3 on Site B of the Shanghai Port International Cruise Terminal Project had been entered and two other buildings had been handed over to the owners. JW Marriott Shenzhen also commenced operation, and all investment properties maintained a relatively high occupancy rate and rentals, which in turn contributed to the steady development of our three major business segments. The Group also successfully bidded the site at No. 15 Guangqu Road, Beijing, which was recognized as the “only remaining prime site” in the region by property developers, and the piece of land will be added to our strategic land bank for the Group’s future development in the Beijing property market, which will secure a sustainable growth for the Group’s property development segment.

Property development segment

In the first half of 2009, the recovery of the domestic real estate market led to good sale and pre-sale results of the Group’s property development projects.

The fully completed Zhuhai Every Garden Project(situated on the north side of Lover’s Road, Zhuhai) grasped the opportunity of market rebound, by taking a variety of marketing strategies to proactively sell the unsold units. As at 30 June 2009, the Group accumulatively sold a total of 598 units, with a floor area of 81,612 square metres and accounting for 79% of the total floor area of apartments for sale. Among them, 38 units with a floor area of 4,768 square metres were sold in the first half of the year. Currently, the Group owns 100% interest in the Zhuhai Every Garden Project.

Site B of Shanghai Port International Cruise Terminal Project(situated on the west bank of the Huangpu River, North Bund of Hongkou District) is under development, most of its sale and pre-sale have been completed. In the first half of the year, the handover of two office buildings (with a floor area of 31,034 square metres) to the owners was completed and sales revenue was recognized, while a letter of intent for sale of Building No. 3 on Site B of Shanghai Port International Cruise Terminal Project had been entered in the first half of the year. Up to this date, nine out of a total of eleven office buildings under construction had realised pre-sale or obtained intent for sale. Floor area having been sold and obtained intent for sale accounts for 77% of the total gross floor area expected available for sale upon the completion of the project.

INTERIM REPORT 2009　FRANSHION PROPERTIES (CHINA) LIMITED

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