Annual Report 2009 - Greentown China Holdings Limited

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Independent Auditor’s Report TO THE MEMBERS OF GREENTOWN CHINA HOLDINGS LIMITED (incorporated in the Cayman Islands with limited liability) We have audited the consolidated financial statements of Greentown China Holdings Limited (the “Company”) and its subsidiaries (collectively referred to as the “Group”) set out on pages 98 to 189, which comprise the consolidated statement of financial position as at 31 December 2009, and the consolidated statement of comprehensive income, consolidated statement of changes in equity and consolidated statement of cash flows for the year then ended, and a summary of significant accounting policies and other explanatory notes. Directors’ responsibilities for the consolidated financial statements The directors of the Company are responsible for the preparation and the true and fair presentation of these consolidated financial statements in accordance with International Financial Reporting Standards and the disclosure requirements of the Hong Kong Companies Ordinance. This responsibility includes designing, implementing and maintaining internal control relevant to the preparation and the true and fair presentation of the consolidated financial statements that are free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances. Auditor’s responsibility Our responsibility is to express an opinion on these consolidated financial statements based on our audit and to report our opinion solely to you, as a body, in accordance with our agreed terms of engagement and for no other purpose. We do not assume responsibility towards or accept liability to any other person for the contents of this report. We conducted our audit in accordance with Hong Kong Standards on Auditing issued by the Hong Kong Institute of Certified Public Accountants. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance as to whether the consolidated financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the consolidated financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and true and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as well as evaluating the overall presentation of the consolidated financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. 96 Greentown China Holdings Limited Annual Report 2009
Independent Auditor’s Report Opinion In our opinion, the consolidated financial statements give a true and fair view of the financial position of the Group as at 31 December 2009 and of the Group’s financial performance and cash flows for the year then ended in accordance with International Financial Reporting Standards and have been properly prepared in accordance with the disclosure requirements of the Hong Kong Companies Ordinance. Deloitte Touche Tohmatsu Certified Public Accountants Hong Kong 19 April 2010 Greentown China Holdings Limited Annual Report 2009 97
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eauties in life Start with a dream
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Contents Corporate Information 2 Co
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Corporate Information Registered Of
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Corporate Profile Greentown China H
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Villa Changsha Bamboo Garden Shangh
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Mansion Beijing Majestic Mansion Th
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Urban Complex
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Jinan National Games Project
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Thousand-Island Lake Resort Condo -
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Xinjiang 1.9% Proportion to total l
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Portfolio Property projects Type In
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Portfolio Completion schedule of pr
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Portfolio Wenzhou Lucheng Plaza Nin
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Portfolio Nanjing Rose Garden Prope
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Portfolio Qingdao Ideal City Jinan
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A romantic trip of timeless splendo
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Dear Shareholders, In early 2009, t
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CEO’s Review Sales of major proje
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Notes to the Consolidated Financial
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Five Years Financial Summary Consol
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Valuation Report and Analysis Metho
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Valuation Report and Analysis SUMMA
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Valuation Report and Analysis Prope
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Valuation Report and Analysis 3. As
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Valuation Report and Analysis 25. A
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Annual Report 2009 - Greentown China Holdings Limited

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