Core Viewpoint - The company ST Jinggu (600265) is facing legal disputes related to its subsidiary Huiyin Wood Industry, with significant borrowings occurring around the time of the company's restructuring and performance commitments [1][4][10]. Group 1: Legal Disputes and Borrowings - The total amount involved in the lawsuits against Huiyin Wood Industry is approximately 40.7 million yuan, including principal and interest [1]. - The plaintiffs, Wang Sanquan, Wang Dongxian, and Wang Xinwang, provided loans to Huiyin Wood Industry totaling 37.2 million yuan, 1.5 million yuan, and 2 million yuan respectively, with interest rates of 13.8% and 12% [2][3]. - The lawsuits coincide with the performance commitment period of the restructuring, indicating potential financial distress [1][4]. Group 2: Financial Performance and Restructuring - Huiyin Wood Industry reported revenues of 3.89 billion yuan in 2024, while ST Jinggu's revenue was 4.47 billion yuan, making Huiyin a key revenue source for the parent company [5]. - The acquisition of Huiyin Wood Industry by ST Jinggu for 270 million yuan aimed to enhance the company's competitiveness in the engineered wood products sector [5]. - The company had committed to achieving net profits of 43.53 million yuan, 57.67 million yuan, and 64.04 million yuan for 2023 to 2025, totaling 165 million yuan [6]. Group 3: Financial Challenges and Impairments - In 2024, Huiyin Wood Industry reported a significant loss of 32.46 million yuan, with a performance realization rate of -156.28%, attributed to oversupply in the particleboard industry and declining demand [6][7]. - ST Jinggu had to recognize goodwill impairment of 83.32 million yuan due to Huiyin's poor performance, contributing to a total loss of 72.87 million yuan for the year [7]. - The company is entitled to a performance compensation of 142 million yuan from the original shareholders due to the shortfall in performance commitments [8]. Group 4: Borrowing and Financial Management - ST Jinggu provided 183.9 million yuan in loans to Huiyin Wood Industry to facilitate its acquisition and debt repayment [10]. - Despite receiving substantial financial support from ST Jinggu, Huiyin Wood Industry continued to seek additional loans from private individuals, raising questions about its financial management [11]. - Huiyin's average interest-bearing debt was 218 million yuan in 2022, with interest expenses decreasing from 17.42 million yuan to 12.18 million yuan in 2023 [12][13].

智通财经APP讯，港誉智慧城市服务(00265)发布公告，于2025年4月30日，本公司与东胜房地产订立抵 销协议，本公司已有条件同意以接纳东胜房地产向本公司或指定实体转让该等物业的方式，抵销部分未 结应收款。 由于东胜房地产未能及时结算未结应收款、经本集团多次要求付款，并探讨不同措施以收回未结应收款 后，本公司与东胜房地产同意订立抵销安排。未结应收款来自本集团过往向东胜房地产及/或其关连公 司提供的物业管理;及推广、活动策划及咨询服务。本公司已採取多项措施，以追讨未结应收款，包括 定期以口头及电子方式要求付款，以及组织实体会议。经不断努力，本公司与东胜房地产最终同意将该 等物业转让予本公司或指定实体，作为未结应收款的部分结算。本集团正探讨其余方案，以收回未结应 收款的余额。 除抵销安排外，东胜房地产自2025年1月1日起已以现金结算合共约人民币87万元(相当于约92万港元)。 于紧随完成日期后，未结应收款将减少至约人民币4271万元(相当于约4527万港元)。 本公司已考虑与抵销安排有关的风险。根据抵销协议的条款，倘任何先决条件未能于最后截止日期当日 或之前达成，则本公司有权撤销抵销协议。 董事认为，通过订 ...

Financial Performance - The group recorded revenue of approximately HKD 345.9 million for the fiscal year ending December 31, 2024, an increase of about 1.0% compared to HKD 342.4 million in the previous year[11]. - The group achieved a profit of approximately HKD 48.9 million for the fiscal year, representing an increase of approximately 28.7% from HKD 38.0 million in the previous year[12]. - The company recorded revenue from property management services of approximately HKD 210.3 million in the current year, representing a growth of about 13.2% compared to HKD 185.7 million in the previous year[19]. - The environmental hygiene business recorded revenue of approximately HKD 129.6 million, a decrease from HKD 147.4 million in the previous year, primarily due to a reduction in non-tender contracts[22]. - The comprehensive development business saw a revenue decline to approximately HKD 5.9 million, down about 28.9% from HKD 8.3 million in the previous year[41]. - The gross profit for the year was approximately HKD 97.3 million, an improvement from HKD 85.2 million in the previous year, with a gross margin increase to about 28.1%[47]. - The net profit for the year was approximately HKD 48.9 million, up from HKD 38.0 million in the previous year, primarily due to improved gross profit and effective cost control measures[49]. - The environmental hygiene business's gross profit increased to approximately HKD 32.4 million, with a gross margin improvement to about 25.0%[47]. - The comprehensive development business's gross profit decreased to approximately HKD 5.0 million, but the gross margin improved to about 85.0%[48]. Property Management and Expansion - The total managed building area by the property management group was approximately 8.5 million square meters as of December 31, 2024, a decrease from approximately 11.8 million square meters in the previous year[15]. - The group successfully expanded its property management portfolio, resulting in increased revenue from newly acquired projects during the fiscal year[15]. - The group plans to pursue a robust expansion strategy, considering both acquisition and organic growth opportunities despite challenges from the economic slowdown in China[11]. - The company has entered into an agreement to acquire 47 commercial units in the Zijing Yuhua Center, with a total estimated construction area of approximately 2,563 square meters, expected to be delivered by December 31, 2024[16]. - The planned completion date for the acquisition of the commercial units has been delayed due to the impact of the COVID-19 pandemic and environmental policies in China[16]. - The company is expected to receive a full refund of approximately RMB 22.9 million (equivalent to about HKD 24.3 million) from Dongsheng Real Estate following the termination of the acquisition agreement[16]. Challenges and Strategies - The company faced challenges in collecting service fees due to the ongoing economic situation in China, impacting cash flow[23]. - The company has improved its ability to meet strict service standards set by the Chinese government, which has reduced penalties and partially offset the decrease in contract revenue[22]. - The group aims to enhance operational efficiency and optimize workflows to reduce administrative and operational costs in the coming years[24]. - The company plans to enhance its environmental hygiene services by incorporating advanced cleaning technologies and sustainable practices to meet customer needs[20]. - The group anticipates a recovery in outbound tourism services as China resumes international travel, prompting a reassessment of the surrounding business environment[32]. Corporate Governance and Management - The company operates as an investment holding company with subsidiaries engaged in property management and leasing services, environmental hygiene, integrated development, and diversified tourism products and services[94]. - The company has established procurement procedures to manage its supply chain responsibly, ensuring fair competition in the market[100]. - The company emphasizes the importance of maintaining positive relationships with employees, viewing them as valuable assets for long-term success[99]. - The company has appointed new executive directors, including Mr. Xue Fei and Ms. Hao Ying, effective June 28, 2024[136]. - The company has arranged appropriate directors' liability insurance for its board members during the year[139]. - The independent non-executive directors have confirmed their independence as per the listing rules, and the company still considers them independent as of the report date[140]. - The company has established a robust corporate governance framework and regularly reviews its governance practices to ensure compliance with regulations[178]. Shareholder and Equity Information - The company proposed a share consolidation on October 31, 2024, merging every 50 existing shares into one new share with a par value of HKD 0.25[57]. - Following the share consolidation approved on December 2, 2024, the company's issued share capital became HKD 100 million, divided into 400 million consolidated shares[58]. - Major shareholder Dongsheng Holdings owns approximately 62.09% of the company's shares, totaling 160,465,320 shares[151]. - The total equity held by Dongsheng Holdings includes 157,889,897 shares and convertible securities convertible into 2,575,423 shares as of December 31, 2024[153]. - The total distributable reserves available to equity shareholders as of December 31, 2024, is approximately HKD 109,471,000, down from HKD 183,876,000 in 2023[127]. Employee and Operational Information - The total number of employees as of December 31, 2024, was approximately 2,100, down from about 2,200 in 2023, with employee costs around HKD 98.8 million[72]. - The group provides employee medical insurance and mandatory provident fund plans as part of employee benefits[143]. - The group has no further liability for employee retirement benefits beyond monthly contributions to the retirement plans[144]. - The company encourages senior management to participate in external seminars and internal training to improve their professional knowledge[187]. Risk Management and Compliance - The company aims to maintain a robust and effective risk management and internal control system to safeguard assets and ensure reliable financial reporting[192]. - The audit committee meets at least twice a year to review internal audit findings and report to the board regarding risk management and internal control effectiveness[193]. - The group has established effective risk management and internal control systems to safeguard its assets, with no significant internal control deficiencies identified[194]. - The auditor's fees for statutory audit services amounted to approximately HKD 1.7 million, with an additional HKD 0.03 million for non-audit services[197].

Financial Performance - The group recorded revenue of approximately HKD 345.9 million for the year ended December 31, 2024, representing an increase of about 1.0% compared to HKD 342.4 million in 2023[2]. - Profit attributable to equity holders of the company was approximately HKD 49.1 million, an increase of about 46.6% from HKD 33.5 million in 2023[2]. - Basic and diluted earnings per share were approximately HKD 0.1166, compared to HKD 0.0824 in 2023 (restated)[5]. - Total comprehensive income for the year was HKD 32.2 million, compared to HKD 19.4 million in 2023[6]. - The adjusted profit before tax for the company increased to HKD 53,046,000 in 2024 from HKD 41,723,000 in 2023, marking a growth of around 27%[30]. - The company's profit before tax for 2024 was HKD 49,114,000, compared to HKD 33,499,000 in 2023, representing a year-over-year increase of 46.7%[40]. - The annual profit for the year was approximately HKD 48.9 million, an increase from HKD 38.0 million in 2023, primarily due to a gross profit improvement of about HKD 12.1 million and compensation received of approximately RMB 4.6 million (around HKD 5.0 million) for the termination of a property acquisition[86]. Revenue Segments - The property management segment's revenue increased due to the full-year contribution from several projects acquired in 2023, while the environmental hygiene segment's revenue decreased due to a reduction in non-tender contracts[2]. - Property management services generated revenue of HKD 181,650,000 in 2024, up from HKD 158,461,000 in 2023, indicating a growth of about 14.6%[25]. - Environmental hygiene services revenue decreased to HKD 129,643,000 in 2024 from HKD 147,357,000 in 2023, reflecting a decline of approximately 12%[25]. - Revenue from property management services provided to Dongsheng Real Estate and its subsidiaries contributed approximately HKD 39.3 million in the current year, compared to approximately HKD 48.0 million in 2023[60]. - The group recorded revenue from environmental hygiene services of approximately HKD 129.6 million in the current year, down from HKD 147.4 million in 2023[65]. - Revenue from tourism-related activities was approximately HKD 5.9 million, a decrease of about 28.9% from HKD 8.3 million in the previous year[78]. Assets and Liabilities - Non-current assets decreased from HKD 290.2 million in 2023 to HKD 243.6 million in 2024, primarily due to changes in property, plant, and equipment[7]. - Current assets decreased from HKD 524.6 million in 2023 to HKD 387.0 million in 2024, with cash and cash equivalents dropping significantly from HKD 201.4 million to HKD 86.4 million[7]. - Total assets decreased to HKD 630,643,000 in 2024 from HKD 814,736,000 in 2023, a decline of approximately 22.5%[30]. - The total liabilities increased slightly to HKD 197,092,000 in 2024 from HKD 192,600,000 in 2023, representing an increase of about 2.6%[30]. - The net asset value decreased from HKD 622.1 million in 2023 to HKD 433.6 million in 2024, reflecting a significant reduction in total equity attributable to equity holders[8]. - Trade receivables increased significantly to approximately HKD 158.5 million as of December 31, 2024, from HKD 90.4 million in 2023, mainly due to delayed payments from clients in the environmental hygiene and property management sectors[89]. Dividends and Shareholder Returns - The group did not recommend the payment of a final dividend for the year, consistent with the previous year[2]. - The company did not declare a final dividend for the year, consistent with the previous year[112]. Corporate Governance and Compliance - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with applicable regulations[11]. - The company has complied with all applicable corporate governance codes, except for the separation of roles between the Chairman and CEO[114]. - The company has adopted the standard code of conduct for securities trading as per the listing rules, confirming compliance by all directors throughout the year[116]. - The audit committee, consisting of three independent non-executive directors, reviewed the group's financial reporting procedures and internal controls for the year[120]. Strategic Initiatives and Future Outlook - The group emphasized a strategy of "holding profits and ensuring stability" through prudent investment and development strategies[50]. - The group plans to pursue stable expansion strategies, considering acquisition or organic growth opportunities despite challenges from the business environment[51]. - The environmental hygiene business is undergoing a transformation driven by government policies aimed at promoting green and smart development, with investments in advanced cleaning technologies[62]. - The group aims to enhance operational efficiency and reduce administrative and operational costs in future years[66]. - The group is actively seeking acquisition opportunities, particularly in property management, tourism, and environmental services, to enhance its rental portfolio and expand stable income sources[75]. Employee and Operational Metrics - The total employee costs, including directors' remuneration, amounted to HKD 98,770,000 in 2024, slightly down from HKD 98,973,000 in 2023[37]. - The total number of employees as of December 31, 2024, is approximately 2,100, with employee costs around HKD 98.8 million[109].

Service Quality and Management - The group reported a significant focus on enhancing service quality and property management, aiming to create greater value for shareholders and stakeholders [6]. - The property management business has received multiple awards, including recognition as a leading brand in property services in Hebei Province for 2023 [8]. - The company emphasizes a "sustainable profitability" strategy, maintaining a cautious investment and development approach to ensure ongoing profitability [6]. - The group is actively involved in residential and commercial property management, environmental sanitation, and diversified tourism products and services [6]. - The company holds ISO certifications for quality management, environmental management, and occupational health and safety, reflecting its commitment to service excellence [8]. - The group aims to improve service quality and diversity in property management services, aligning with national planning directives [7]. - The company aims to improve service quality and customer satisfaction through enhanced staff training and performance evaluation systems [9]. Financial Performance - Revenue from property management services, including property management and rental income, was approximately HKD 98.6 million, representing a growth of 16.1% compared to HKD 84.9 million in the corresponding period [9]. - The group recorded total revenue of approximately HKD 167.7 million for the period, a decrease of about 1.2% compared to the previous period's revenue of approximately HKD 169.7 million [17]. - The company reported a revenue of HKD 167,741,000 for the six months ended June 30, 2024, a decrease of 1% from HKD 169,698,000 in the same period of 2023 [45]. - Gross profit for the same period was HKD 47,186,000, slightly down from HKD 47,239,000, indicating a stable gross margin [45]. - The company achieved a net profit of HKD 23,832,000, an increase of 15% compared to HKD 20,636,000 in the previous year [45]. - The group recorded a profit of approximately HKD 23.8 million, an increase from HKD 20.6 million in the previous period, aided by reduced provisions for trade receivables [20]. Challenges and Strategic Focus - The company is facing challenges in collecting service fees due to the ongoing economic situation in China, which has affected cash flow and operational efficiency [11]. - The company is adopting a cautious approach towards further investment in expanding its environmental sanitation services until economic conditions improve [11]. - The group is currently evaluating the feasibility of restarting the development project in Zhangjiakou, which has been paused due to economic uncertainties caused by the COVID-19 pandemic [22]. - The group is actively exploring alternative exit strategies to mitigate potential challenges related to the paused development project [22]. Revenue Breakdown - Revenue from property management and leasing services was HKD 98.6 million, accounting for 58.8% of total revenue, compared to HKD 84.9 million (50.0%) in the previous period [17]. - Environmental hygiene services generated revenue of HKD 65.2 million, representing 38.9% of total revenue, down from HKD 80.1 million (47.2%) in the previous period [17]. - Revenue from tourism-related services was approximately HKD 3.9 million, which is a decrease from HKD 4.8 million in the corresponding period [17]. - The company's revenue from property management services increased by 18.4% from HKD 72,007,000 in 2023 to HKD 85,260,000 in 2024 [56]. - Environmental hygiene services revenue decreased by 18.5% from HKD 80,068,000 in 2023 to HKD 65,249,000 in 2024, indicating potential challenges in this segment [56]. Investments and Acquisitions - The group plans to expand its business through organic growth, strategic acquisitions, and partnerships, particularly in property management, tourism, and environmental hygiene services [16]. - The group is actively seeking acquisition opportunities and exploring potential collaborations with target customers to enhance its investment portfolio [16]. - The company has made no disclosures regarding any rights granted to directors for purchasing shares or bonds during the period [38]. Employee and Operational Metrics - The total number of employees as of June 30, 2024, was approximately 2,100, down from 2,200 on June 30, 2023, with employee costs around HKD 48.4 million compared to HKD 50.2 million in the prior period [31]. - The company plans to enhance operational efficiency by optimizing workflows and reducing administrative and operational costs in the coming years [11]. Compliance and Governance - The company has maintained compliance with corporate governance codes throughout the reporting period, except for a deviation regarding the separation of roles of the chairman and CEO [41]. - The audit committee reviewed the interim results, ensuring adherence to applicable accounting standards and sufficient disclosure [42]. Shareholder Information - Major shareholder Dongsheng Property Group holds 10,085,983,816 shares, accounting for 78.05% of the company [39]. - The company did not recommend any interim dividend for the period, consistent with the previous year [80].

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之內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部 或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 GANGYU SMART URBAN SERVICES HOLDING LIMITED 港譽智慧城市服務控股有限公司 （前稱東勝智慧城市服務控股有限公司） （於開曼群島註冊成立的有限公司） （股份代號：265） 截至二零二四年六月三十日止六個月的中期業績公告 | --- | --- | |-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Financial Performance - The group recorded an increase in revenue of approximately HKD 115.4 million and profit of about HKD 10.1 million for the fiscal year ending December 31, 2023[8]. - Total revenue for the company reached approximately HKD 342.4 million in 2023, reflecting a growth of about 50.8% from HKD 227.0 million in 2022[44]. - The company recorded revenue from property management services of approximately HKD 185.7 million, an increase of approximately 17.9% from HKD 157.5 million in the previous year[15]. - Revenue from environmental hygiene services increased significantly to approximately HKD 147.4 million, up approximately 261.3% from HKD 40.8 million in the previous year[19]. - The gross profit for the year was approximately HKD 7.3 million, an improvement from HKD 2.9 million in 2022, primarily due to effective cost control and resource utilization[23]. - The company reported a net profit from continuing operations of approximately HKD 38.0 million in 2023, an increase of about HKD 16.2 million compared to HKD 21.8 million in 2022[49]. Business Expansion and Strategy - The total contracted gross floor area of the property management group reached approximately 11.8 million square meters as of December 31, 2023, compared to 8.8 million square meters in 2022[11]. - The area under management increased to approximately 11.0 million square meters in 2023, up from 7.9 million square meters in 2022[11]. - The group successfully added 15 new public building property management projects during the year, contributing to an increase in property management revenue[11]. - The company has diversified its business focus to include property management and environmental hygiene services since 2021[8]. - The company aims to expand its business through strategic acquisitions in overseas markets, particularly in property management, tourism, and environmental services[32]. Operational Efficiency and Challenges - The company anticipates challenges due to extended collection periods for customer service fees, which may impact cash flow and operational efficiency[19]. - The company plans to enhance operational efficiency and optimize workflows to reduce administrative and operational costs in the future[19]. - The group anticipates ongoing challenges in the Chinese economy, including stagnant private investment and declining consumer confidence, which may affect future project developments[52]. - The group has paused its development projects due to economic uncertainties and is considering the potential returns and capital investment needs before proceeding[52]. Corporate Governance and Management - The company is committed to maintaining high standards of corporate governance and transparency, as evidenced by the roles of its independent directors[90][94]. - The board of directors consists of seven members, including the chairman and CEO, ensuring a balance of executive and independent non-executive directors[199]. - The company has established an audit committee responsible for reviewing and supervising the financial reporting process and internal controls[181]. - The company emphasizes good corporate governance principles, focusing on accountability and transparency to shareholders[196]. Shareholder and Stakeholder Value - The company is committed to creating greater value for shareholders and stakeholders by improving service quality and environmental hygiene[7]. - The company will not declare a final dividend for the year, consistent with the previous year[69]. - The total distributable reserves available to equity shareholders as of December 31, 2023, is approximately HKD 183,876,000, down from HKD 207,374,000 in 2022[142]. Environmental and Social Responsibility - The company is committed to sustainable development and has implemented various measures to reduce environmental impact, including energy-saving and waste management policies[102]. - The company has a comprehensive privacy protection program in place to safeguard customer data[109]. Employee Management - The total number of employees as of December 31, 2023, is 2,184, a decrease from approximately 2,312 in 2022[64]. - Employee costs, including director remuneration, amounted to approximately HKD 99.0 million in 2023, compared to approximately HKD 56.7 million in 2022[64]. - The company aims to attract and retain skilled talent aligned with its corporate culture through training and development programs[106]. Connected Transactions and Compliance - The company confirmed compliance with the disclosure requirements under Chapter 14A of the Listing Rules regarding continuing connected transactions[177]. - The framework agreement and new framework agreement transactions are subject to reporting, annual review, announcement, circular, and independent shareholder approval due to the annual cap exceeding 10 million HKD[175]. - The company’s independent non-executive directors reviewed the continuing connected transactions and confirmed they were conducted in the ordinary course of business and on normal commercial terms[177].

Financial Performance - The company reported a net profit of HKD 37,969,000 for the year ended December 31, 2023, compared to HKD 27,915,000 in 2022, representing a year-over-year increase of approximately 36.2%[4]. - The company’s basic and diluted earnings per share for continuing operations were HKD 0.17 in 2023, compared to HKD 0.03 in 2022, marking a significant increase of 466.7%[4]. - The profit attributable to equity holders from continuing operations was approximately HKD 33.5 million, up from HKD 23.7 million in the previous year, mainly due to a turnaround in the environmental hygiene business from a loss of HKD 4.0 million to a profit of HKD 8.4 million[56]. - The group reported a pre-tax profit of HKD 41.7 million, compared to HKD 25.0 million in the previous year, showcasing significant growth in profitability[58]. - The company reported total revenue of HKD 342,371,000 for 2023, compared to HKD 226,967,000 in 2022, marking an overall increase of 50.8%[38]. Revenue Growth - Revenue from property management services increased to HKD 158,461,000 in 2023, up from HKD 136,057,000 in 2022, reflecting a growth of about 16.5%[17]. - The environmental sanitation services segment generated revenue of HKD 147,357,000 in 2023, a significant increase from HKD 40,800,000 in 2022, indicating a growth of approximately 261.5%[17]. - The company recognized total revenue of HKD 342,371,000 for the year 2023, compared to HKD 226,967,000 in 2022, representing an increase of about 50.8%[17]. - Revenue from continuing operations for 2023 was HKD 342,371,000, an increase from HKD 226,967,000 in 2022, representing a growth of 50.8%[25]. - The environmental hygiene business generated revenue of approximately HKD 147.4 million, a significant increase of about 261.3% from HKD 40.8 million in the previous year[96]. Asset and Liability Management - Total assets less current liabilities amounted to HKD 674,836,000 in 2023, compared to HKD 666,813,000 in 2022, showing a slight increase of about 1.5%[1]. - The total liabilities decreased from HKD 145,007,000 in 2022 to HKD 139,900,000 in 2023, a reduction of approximately 3.8%[1]. - The company’s cash and cash equivalents were HKD 201,373,000 as of December 31, 2023, down from HKD 205,857,000 in 2022, a decrease of approximately 2.4%[1]. - The group’s net asset value increased to HKD 622.1 million from HKD 606.3 million year-on-year, reflecting a solid financial position[45]. - The company’s prepayments, deposits, and other receivables decreased to approximately HKD 131.1 million from HKD 229.4 million in the previous year, mainly due to the return of land and repayment of advances[199]. Operational Efficiency - The group achieved a gross profit of HKD 85.2 million, up from HKD 68.5 million in the previous year, reflecting improved operational efficiency[58]. - The gross profit margin decreased from approximately 30.2% for the year ended December 31, 2022, to about 24.9% for the current year, a decline of approximately 5.3 percentage points[187]. - The property management business recorded a gross profit decrease from approximately HKD 61.2 million to about HKD 58.0 million, with a gross profit margin reduction of 7.7 percentage points to approximately 31.2%[189]. - The environmental sanitation business saw a significant increase in gross profit from approximately HKD 2.5 million to about HKD 19.8 million, with a gross profit margin improvement from approximately 6.0% to 13.5%[146]. - The group plans to continue expanding its service scope and optimizing workflows to reduce administrative and operational costs in future years[116]. Strategic Initiatives - The company plans to continue expanding its environmental sanitation services and diversify its tourism-related offerings in the coming years[18]. - The group plans to expand its leasing-related services by acquiring 47 commercial units in the Zijing Yuhua Center, with an estimated total building area of approximately 2,563 square meters[115]. - The group aims to adopt a light asset investment model to reduce liquidity risks and enhance investment management flexibility[107]. - The group is actively seeking acquisition opportunities in overseas markets to diversify its business portfolio and enhance its investment returns[124]. - The group aims to leverage local rural resources and cultural heritage to accelerate the new rural tourism model as outlined in the Shijiazhuang "14th Five-Year" cultural and tourism development plan[118]. Challenges and Risks - The group faced challenges with extended collection periods for customer service fees, impacting cash flow and operational efficiency[98]. - The group anticipates further challenges due to ongoing economic conditions in China, which have not fully recovered this year[98]. - The group did not record any revenue from the diversified tourism products and services segment this year, consistent with the previous year[143]. - The group continues to operate its promotional, event planning, and consulting services, contributing approximately HKD 1.0 million in revenue, a decline from HKD 20.4 million in the previous year[187]. - The company recorded no profit from discontinued operations after selling its diversified tourism products and services business in Hong Kong on August 30, 2022[192].

Financial Performance - The company recorded a profit attributable to equity holders of approximately HKD 18.2 million for the six months ended June 30, 2023, compared to HKD 2.3 million for the same period in 2022, representing a significant increase [7]. - The overall revenue and profit of the company improved during the reporting period, reflecting stable growth in its main business operations [7]. - The group recorded a revenue of approximately HKD 169.7 million for the six months ended June 30, 2023, representing an increase of about 68% compared to HKD 100.9 million for the same period last year [28]. - The profit before tax increased significantly to HKD 18.5 million, compared to HKD 3.0 million in the previous year, marking a 509.5% increase [69]. - The net profit attributable to equity holders of the company from continuing operations was HKD 18.2 million, compared to HKD 2.3 million in the prior year, reflecting a substantial growth of 687.0% [69]. - The company reported a total comprehensive loss of HKD 3.4 million for the period, a significant improvement from a loss of HKD 21.5 million in the same period last year [72]. Revenue Breakdown - The property management business recorded revenue of approximately HKD 84.9 million, representing a 12% increase compared to HKD 75.8 million for the six months ending June 30, 2022 [16]. - The environmental sanitation business confirmed revenue of approximately HKD 80.1 million, a significant increase from HKD 11.7 million for the six months ending June 30, 2022, due to new projects fully operational during the period [19]. - The tourism-related business generated revenue of approximately HKD 4.8 million, down from HKD 5.7 million for the six months ending June 30, 2022, primarily due to increased outbound tourism affecting local tourism [20]. - The marketing, event planning, and consulting services segment recorded revenue of approximately HKD 7.6 million, but no revenue was recognized during the current period due to changes in the client’s sales and marketing strategy [22]. - Rental income for the period was HKD 12.8 million, an increase from HKD 10.8 million, reflecting a growth of 18.6% [93]. Assets and Liabilities - As of June 30, 2023, the group's property, plant, and equipment, along with right-of-use assets, totaled approximately HKD 166.7 million, a decrease from HKD 182.7 million as of December 31, 2022 [40]. - The group's receivables from Dakun Zhifang amounted to approximately HKD 132.6 million as of June 30, 2023, compared to HKD 141.9 million as of December 31, 2022 [39]. - As of June 30, 2023, the group's liabilities, including trade payables and contract liabilities, were approximately HKD 57.3 million, a decrease from HKD 70.8 million as of December 31, 2022 [41]. - The total assets of the company as of June 30, 2023, were HKD 807,594,000, slightly down from HKD 811,820,000 as of December 31, 2022 [102]. - The total liabilities decreased to HKD 198,491,000 as of June 30, 2023, from HKD 205,537,000 as of December 31, 2022 [102]. Employee and Management - The total number of employees in the group was approximately 2,200, an increase from about 1,120 on June 30, 2022 [51]. - Employee costs, including director remuneration, amounted to approximately HKD 50.2 million for the period, compared to HKD 25.2 million for the six months ending June 30, 2022 [51]. - Total remuneration for key management personnel increased to HKD 3,984,000 in the first half of 2023, compared to HKD 3,823,000 in the same period of 2022 [129]. - The performance of individual employees is typically reviewed annually, with salary adjustments aligned with market trends [51]. Corporate Governance - The company has established an audit committee to oversee financial reporting and internal controls, ensuring compliance with applicable accounting standards [66]. - The company has adopted the standard code for securities transactions by directors, confirming compliance by all directors during the period [63]. - The company continues to maintain a balanced governance structure, with the roles of chairman and CEO held by the same individual, Mr. Shi, while ensuring all major decisions are made with board consultation [65]. Future Outlook and Strategy - The group plans to focus on property management and environmental hygiene businesses, leveraging government support policies for long-term growth [26]. - The company continues to focus on expanding its property management and environmental hygiene services in China, targeting urban and rural areas [99]. - The company is committed to enhancing its service offerings and exploring new market opportunities in the tourism sector [99]. Shareholder Information - The board does not recommend the payment of any interim dividend for the current period, consistent with the previous period where no dividend was declared [52]. - The company has not repurchased any of its listed shares during the period [54]. - Outstanding Global Holdings and Chance Talent Management Limited held approximately 50.36% and 51.31% of the company's shares, respectively [58].

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之內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部 或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 ORIENT VICTORY SMART URBAN SERVICES HOLDING LIMITED 東勝智慧城市服務控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：265） 截至二零二三年六月三十日止六個月的中期業績公告 摘要： • 本集團於本期間錄得收入約169.7百萬港元（截至二零二二年六月三十日 止六個月：約100.9百萬港元（經重列）），較二零二二年同期增加約68%， 主要受本集團於二零二二年六月至二零二二年十二月期間獲得四個新的 環境衛生項目的全期間表現所驅動，於本期間為本集團貢獻收入約80.1 百萬港元。 • 本期間本公司權益擁有人應佔持續經營業務溢利約為18.2百萬港元（截至 二零二二年六月三十日止六個月：約2.3百萬港元（經重列））。有關改善歸 因於本期間出售金旅時代51%股權的收益約9.2百萬港元以及環境衛生業 務的分部業績較二零二二年同期改善約12.1百萬港元。 • ...