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Is R&F real estate a state-owned enterprise or a private enterprise?

Private enterprises.

According to Zhong Yi Finance Network, Guangzhou R&F Real Estate Co., Ltd. was established in August, 1994. It is a real estate developer and private enterprise listed in Hong Kong stocks, not a state-owned enterprise. Guangzhou R&F Real Estate Co., Ltd. is located at 45-54, R&F Center, Huaxia Road 10, Zhujiang New Town, Tianhe District, Guangzhou. Its business scope includes real estate development and management, real estate consulting services, venue leasing, etc.