本年度報告以環保紙印製
2 3 5 19 25 28 39 43 44 45 46 47 84 85 86 1
Maples and Calder P.O. Box 309, Ugland House Grand Cayman KY1-1104 Cayman Islands 1 55 (852) 2309 8888 (852) 2328 8097 vkoverseas.ir@vanke.com http://www.vankeoverseas.com 183 171712 1716 2
2202 XV Banyan Tree Holdings LimitedB58.SG Troy State University 2202 XV 2202 XV 3
27 JL Capital Pte. Ltd. 4
96,500,000 91,200,000 6% 1,830,000,000 1,700,800,000 8%28,200,000 101,000,000 80,900,000 54,200,00050,400,000 8% 6370 657,000 64% 97% 92% 9.5 9.4 96,500,00091,200,000 74,900,000 70,100,000 22.3% 23.2% 35,000,000 72,600,00070,400,000 5
20% Ultimate Vantage LimitedUltimate VantageUltimate Vantage TW6 TW6 99% 99 20% Ultimate Vantage TW6 TW6 TW6 Ultimate Vantage 372,700,000 484,000,000 Ultimate Vantage 382,000,000 Ultimate Vantage TW6 1,700,000 TW6 Ultimate Vantage 44,000,000 TW6228,400,000 3,200,00010,000 46,00010,000 12,200,00011,000,000 5,600,0001,700,0001,700,000 3,200,0002,400,000 6
8.04 1,032,200,000 1,032,200,000 323,000,000 709,200,000 (i) 65,000,000 Ultimate Vantage TW6TW6 (ii) 35,000,000 (iii) 350,000,000 (iv) 259,200,000 709.2 609.2 259.2 259.2 350.0 (228.3) 121.7 TW6 65.0 65.0 (46.1) 18.9 35.0 35.0 (21.4) 13.6 709.2 709.2 709.2 (295.8) 413.4 7
392,900,000 TW6 3,001,600,000 2,858,100,000 155,200,000 11,700,000 865,900,000 703,900,000413,400,000 676,400,000 383,700,000 6,800,000 32,900,000 2,800,000 27,100,000 4,000,000 5,800,000 8
960,000,000 TW6 Ultimate Vantage 20% TW6 4,800,000,000TW6 Ultimate Vantage 2,388,300,000 568,000,000 Ultimate Vantage TW6 Ultimate Vantage 20% Ultimate VantageTW6 (i) 9
(i) 93% 97% 95% 93% 92% 97% % 100 98 96 97 97 95 94 92 93 93 92 90 0 2012 2013 2014 2015 2016 2017 (ii) 10
(ii) 7.98.38.7 9.29.49.5 10 9.2 9.4 9.5 9 8 7.9 8.3 8.7 7 6 5 0 2012 2013 2014 2015 2016 2017 (iii) 11
(iii) 22.7% 23.8% 23.1% 22.6% 23.2% 22.3% % 25 24 23.8 23 22.7 23.1 22.6 23.2 22.3 22 21 20 0 2012 2013 2014 2015 2016 2017 (iv) 12
(iv) 46% 21% % 60 50 46 40 30 20 21 10 0 2012 2013 2014 2015 2016 2017 (v) + 2 13
(v) 8.0% 11.2% 9.2% 7.9% 4.7% 5.3% % 15 11.2 10 8.0 9.2 7.9 5 4.7 5.3 0 2012 2013 2014 2015 2016 2017 (i) 983 974 14
(ii) (iii) 392,900,000 (iv) (v) (vi) 15
(vii) (a)75% (b) 100% (i) (ii) (iii) (iv) (v) (vi) (vii) (BEAM Plus) (LEED) (viii) 16
17% 2.8 2.2 7,800,000 6,800,000 2,600,000 1,600,000 17
TW6 0.030.03 18
84 5 18 43 0.03 11,686,000 0.03 11,686,000 4520(a) 1,376,712,000 19
116 116 3 4 20
( ) XV 352 A 904,039 904,039 0.009% A 150,700 150,700 0.002% H 500,203 500,203 0.038% A9,724,196,533H 1,314,955,468 18 XV 352 21
XV 336 1 292,145,949 75.0% 2 30,080,000 7.72% 1. Wkland Investments Company Limited292,145,949 Wkland Investments Company Limited Wkland LimitedWkland Limited 2. CSI Capital Management Limited30,080,000 22
2,623,000 1,561,000 75% 8.10(2) (a) 20% 23
9.6% 27.5% 74.5% 93.4% 5% 85 86 24
20% TW6 TW6 80% TW6 35,000,000 R410A 25
LED 2,501,000 1,350.5 72.3 18,000 0.5 64,000 264 17% 2.8 2.2 26
ISO 9001 27
A.2.1 A.2.1 A.2.2 A.2.9 A.2.7 A.2.7 F.1.3 F.1.3 28
3 4 29
30
8 200,000 150,000 10,000 2,500,0013,000,000 31
32
39 42 33
34
700 220 15 571 XIVA 35
72 622566 566 21 28 1 55 vkoverseas.cs@vanke.com (852) 2328 8097 36
72 4/4 1/1 4/4 1/1 4/4 3/3 4/4 1/1 3/3 4/4 1/1 3/3 4/4 1/1 1/1 37
38
43 85 39
2(f)13 1,830,000,000 59% 60% 40
41
42
4 96,460 91,244 (21,520) (21,168) 74,940 70,076 5 1,057 2,807 (14,798) (13,528) 13 100,970 80,910 162,169 140,265 6(a) 5,576 1,657 6(a) (21) 167,745 141,901 46 (10) 6 167,791 141,891 7(a) (12,642) (10,571) 155,149 131,320 11 0.40 0.34 47 85 10 43
12 216 312 13 1,830,000 1,700,810 15 223,772 484,036 2,095 19 186 2,053,988 2,187,439 16 5,860 5,951 25,000 15 148,884 2,759 865,905 703,922 1,023,408 734,873 17 (34,667) (26,412) 18 (2,277) (2,008) (662) (2,453) (37,606) (30,873) 985,802 704,000 3,039,790 2,891,439 19 (38,180) (33,292) 3,001,610 2,858,147 20(b) 3,895 3,895 2,997,715 2,854,252 3,001,610 2,858,147 47 85 44
3,895 1,030,877 1,823,375 2,858,147 155,149 155,149 10(b) (11,686) (11,686) 3,895 1,030,877 1,966,838 3,001,610 3,895 1,030,877 1,703,741 2,738,513 131,320 131,320 10(b) (11,686) (11,686) 3,895 1,030,877 1,823,375 2,858,147 47 85 45
167,791 141,891 (46) 10 21 (5,576) (1,657) 96 96 (100,970) (80,910) 61,295 59,451 381 (1,948) 25,000 (25,000) 8,255 (461) 269 705 95,200 32,747 (21) (12,118) (7,290) 16 83,082 25,452 (26,125) (2,095) 2,903 1,593 2,383 383,685 8,400 (272,259) (33,470) 90,587 (25,572) (11,686) (11,686) (11,686) (11,686) 161,983 (11,806) 703,922 715,728 865,905 703,922 865,905 703,922 47 85 46
1 P.O. Box 309, Ugland House, Grand Cayman KY1-1104, Cayman Islands 1 55 HA 2 (a) (b) 2(f) 47
2 (b) 3 (c) 2(d) 2(i) 48
2 (d) 2(i) (e) (i) (ii) (ii) (i) 2(i) 49
2 (f) 2(h) 2(p)(i) 2(h) 2(h) (g) 2(i) 5 (h) (i) 2(f) 50
2 (h) (i) (ii) 2(p)(i) (iii) 2(f) (i) (i) 2(d) 2(i)(ii) 2(i)(ii) 51
2 (i) (i) (ii) 52
2 (i) (ii) (iii) 34 2(i)(i) (ii) 53
2 (j) 2(i) (k) 2(o)(i) (l) (m) (n) 54
2 (n) 2(f) 55
2 (o) (i) (i) (ii) 2(o)(ii) (ii) (p) (i) 56
2 (p) (ii) (iii) (iv) (q) (a) (i) (ii) (iii) (b) (i) (ii) (iii) (iv) (v) (vi) (a) (vii) (a)(i) (viii) 57
2 (r) 3 58
4 96,460 91,244 10% 9,193,00010% 96,460 96,460 72,633 3,232 75,865 100,970 100,970 173,603 3,232 176,835 (12,237) 3,193 167,791 (12,642) 155,149 59
4 91,244 91,244 70,403 (10) 70,393 80,910 80,910 151,313 (10) 151,303 (11,048) 1,657 (21) 141,891 (10,571) 131,320 5 803 123 2,723 131 84 1,057 2,807 60
6 (a) (3,193) (1,657) (2,383) (5,576) (1,657) 24(d) 21 (b) 107 91 7,717 6,665 7,824 6,756 5% 5%30,000 30,000 (c) 700 650 220 600 96 96 21,520,000 21,168,000 (74,940) (70,076) 61
7 (a) 7,616 7,836 (48) (102) 7,568 7,734 5,074 2,837 12,642 10,571 16.5% 16.5% 12,000 (b) 167,791 141,891 16.5% 16.5% 27,686 23,412 2,234 2,297 (17,195) (13,623) 4 4 (39) (1,417) (48) (102) 12,642 10,571 62
8 383(1) 2 200 200 200 200 400 400 150 80 230 150 90 240 150 90 240 150 70 220 450 250 700 1,000 330 1,330 63
8 200 200 200 200 400 400 150 80 230 150 90 240 150 90 240 150 70 220 450 250 700 1,000 330 1,330 64
9 5,436 4,713 428 311 90 80 5,954 5,104 1,000,000 3 4 1,000,001 1,500,000 1 1,500,001 2,000,000 2,000,001 2,500,000 2,500,001 3,000,000 1 1 5 5 10 (a) 0.030.03 11,686 11,686 0.03 65
10 (b) 0.03 0.03 11,686 11,686 11 155,149,000131,320,000 389,527,932 389,527,932 12 480 480 (168) (72) (96) (96) (264) (168) 216 312 66
13 (a) 1,700,810 1,619,900 28,220 100,970 80,910 1,830,000 1,700,810 (b) (i) 13 1,830,000 1,830,000 1,700,810 1,700,810 67
13 (b) (i) (ii) 3.75% (4%) 4.25% (4.5%) 2,300 3,200 (2,750) ( 1,700 3,000 (2,350)) 9.9 10.3 (10.1) ( 9.7 10.1 (9.9)) 13(a) 68
13 (c) 1,830,000 1,700,810 (d) (e) (f) 1,830,000,0001,700,810,000 73,193 66,632 73,502 75,290 146,695 141,922 (g) 85 14 (a) (b) 540,300 705,201 540,300 705,201 (a) 1717 (b) (c) 84 69
15 3,348 3,302 (a) 220,424 480,734 223,772 484,036 (a) 148,884 Ultimate Vantage Limited* 100 100 20% 20% (b) * 100 100 20% 20% (b) * (a) (i) Ultimate Vantage LimitedUVL 142,683,000 480,734,000 2.2 2.2 (ii) 226,625,000 2.1 6,201,000 220,424,000 (b) Ultimate Vantage LimitedUVL UVL TW6TW6UVL 8520% TW6 (c) Wkdeveloper LimitedWkdeveloper UVL 20%UVL UVL UVL UVL UVL UVL 70
15 UVL UVL 9,908,706 5,084,552 (9,892,346) (98,692) (4,969,352) 16,360 16,508 (148) (50) (148) (50) UVL UVL 16,360 16,508 20% 20% UVL 3,272 3,302 UVL 480,734 UVL 142,683 145,955 484,036 71
15 1,094,756 39,188 (31,127) (1,102,437) 380 380 380 380 20% 20% 76 220,424 6,201 226,701 16 (a) 735 1,009 1,913 1,773 409 372 2,529 2,464 274 333 5,860 5,951 72
16 (a) 0 30 717 954 31 90 18 55 735 1,009 21(a) (b) 717 954 18 55 735 1,009 17 1,502 2,024 23,934 22,666 9,231 1,722 34,667 26,412 9,441,00012,689,000 73
18 19 34,392 (1,286) 33,106 4,797 277 5,074 39,189 (1,009) 38,180 32,470 (2,201) 30,269 1,922 915 2,837 34,392 (1,286) 33,106 (186) 38,180 33,292 38,180 33,106 12,000 47,000 74
20 (a) 3,895 1,030,877 354,740 1,389,512 2,781 2,781 10(b) (11,686) (11,686) 3,895 1,030,877 345,835 1,380,607 3,895 1,030,877 354,884 1,389,656 11,542 11,542 10(b) (11,686) (11,686) 3,895 1,030,877 354,740 1,389,512 75
20 (b) 0.01 750,000,000 7,500 750,000,000 7,500 0.01 389,527,932 3,895 389,527,932 3,895 (c) 8.04 129,842,644 1,044,000,000 1,043,935,0001,299,000 1,042,636,000 11,759,000 1,030,877,000 (a) (b) (c) 37 (d)(e) 76
20 (d) (865,905) (703,922) (865,905) (703,922) 3,001,610 2,858,147 21 (a) 15 77
21 (a) (b) 25,226 6,441 3,000 34,667 34,667 2,277 2,277 2,277 27,503 6,441 3,000 36,944 36,944 23 13,723 10,631 2,058 26,412 26,412 2,008 2,008 2,008 15,731 10,631 2,058 28,420 28,420 23 959,200 959,200 78
21 (c) (d) (e) 22 2,755 27,056 4,024 5,849 6,779 32,905 23 (i) UVLUVL 4,800,000,000 TW6 TW6TW6 UVL TW6 UVL TW6 960,000,000 TW6TW6 477,600,000 (ii) UVL 2,840,000,000 TW6 TW6 UVL TW6 UVL 568,000,000 UVLTW6TW6 481,600,000 79
23 (iii) 24 (a) 2,623 1,561 (b) 156 (c) 4,369 4,202 (d) 21 (a) 18 (b) (c) (d) 727,900,000 Wkdeveloper TW6 TW6 TW62.8 TW6 7,200,000 TW6 80
25 14 540,300 705,201 587 298 842,718 686,904 843,305 687,202 (1,645) (1,868) (599) (457) (753) (566) (1) (2,998) (2,891) 840,307 684,311 1,380,607 1,389,512 20(a) 3,895 3,895 1,376,712 1,385,617 1,380,607 1,389,512 81
26 9 15 40 16 9 15 9 9 39 9 939 9 39 12 82
26 15 15 15 18 11 transfer-of-control approach 83
1 100% 100% 1 100% 100% Cheer Win Limited 1 100% 100% Chericourt Company Limited 1,000,000 100% 100% Excellent Champ Limited 1 100% 100% Far Growth Investment Limited (a) 1 100% 100% Future Best Developments Limited (a) 1 100% 100% Jubilant Castle Limited (a) 1 100% 100% Mainland Investments Group Limited (a) 1 100% 100% Vanke Best Company Limited 1 100% 100% 1 100% 100% WK Parking Limited 18,000,000 100% 100% 2,000,000 (b) WK Property Financial Limited 840 100% 100% Wkdeveloper Limited (a) 1 100% 100% (a) (b) WK Parking Limited WK Parking Limited WK Parking Limited 100,000,000,000 (c) 84
(a) 444 299 63 70 2047 103,500 657,000 100% (b) 402 148,586 675,021 20% 2018 85
96,460 91,244 89,067 85,809 82,550 155,149 131,320 161,705 137,555 151,506 155,149 131,320 161,705 137,555 151,506 2,053,988 2,187,439 2,080,410 1,904,185 1,773,902 985,802 704,000 689,498 (322,169) 186,524 3,039,790 2,891,439 2,769,908 1,582,016 1,960,426 (38,180) (33,292) (31,395) (29,593) (537,767) 3,001,610 2,858,147 2,738,513 1,552,423 1,422,659 3,001,610 2,858,147 2,738,513 1,552,423 1,422,659 86