Financial Performance - For the year ending December 31, 2023, the total revenue was RMB 8,966,000, a decrease of 25.5% compared to RMB 11,925,000 in 2022[2] - The cost of sales for 2023 was RMB 9,217,000, down from RMB 11,621,000 in 2022, resulting in a gross loss of RMB 251,000[2] - The operating and administrative expenses decreased to RMB 10,602,000 in 2023 from RMB 15,052,000 in 2022, reflecting a reduction of 29.8%[2] - The pre-tax loss for 2023 was RMB 9,125,000, an improvement from a loss of RMB 14,259,000 in 2022, indicating a 36.5% reduction in losses[2] - The company reported a loss per share of RMB 3.79 for 2023, compared to RMB 5.79 in 2022, showing an improvement of 34.5%[2] - The company did not declare or recommend any dividends for the year ended December 31, 2023[26] - The group recorded revenue of approximately RMB 9.0 million for the year, a significant decrease of about 24.8% compared to RMB 11.9 million in the previous year[46] - The group reported a gross loss of approximately RMB 0.3 million this year, compared to a gross profit of approximately RMB 0.3 million last year, resulting in a gross margin of 0%[47] Assets and Liabilities - The net asset value decreased to RMB 11,237,000 in 2023 from RMB 20,391,000 in 2022, representing a decline of 44.0%[5] - The total current assets were RMB 12,781,000 in 2023, down from RMB 21,859,000 in 2022, a decrease of 41.6%[5] - The total liabilities decreased to RMB 14,745,000 in 2023 from RMB 16,317,000 in 2022, a reduction of 9.6%[5] - As of December 31, 2023, the group's net current assets were approximately RMB 8,033,000, a decrease of 49.5% from RMB 15,898,000 in 2022[58] - Total assets as of December 31, 2023, were approximately RMB 25,982,000, down from RMB 36,708,000 in 2022, representing a decline of 29.3%[58] - The group's bank and cash balance was approximately RMB 6,384,000 as of December 31, 2023, compared to RMB 6,731,000 in 2022, a decrease of 5.2%[60] - The capital debt ratio as of December 31, 2023, was 72.1%, significantly up from 39.2% in 2022[62] Revenue Breakdown - Revenue from comprehensive real estate consulting and sales agency services in China was RMB 7,671,000 in 2023, down from RMB 10,513,000 in 2022, indicating a decrease of about 26.8%[17] - Revenue from pure real estate planning consulting services in China was RMB 1,295,000 in 2023, compared to RMB 1,412,000 in 2022, reflecting a decline of approximately 8.3%[17] - Revenue from the sale of investment properties rose significantly to RMB 1,864,000 from RMB 447,000, representing a 317.87% increase[19] - Total rental income from investment properties reached RMB 403,000, up from RMB 280,000, marking a 43.75% increase[19] - Revenue from Jiangsu Province accounted for approximately 79.7% of total revenue, followed by Zhejiang Province at 15.5% and Shanghai at 3.9%[48] - The comprehensive real estate consulting and sales agency services generated revenue of approximately RMB 7.67 million, accounting for about 85.6% of total revenue[50] Credit and Receivables - The expected credit loss provision for trade receivables increased to RMB 1,462,000 from RMB 1,108,000, a rise of 32.00%[25] - The total trade receivables decreased to RMB 6,653,000 from RMB 11,671,000, a decline of 43.00%[30] - As of December 31, 2023, accounts receivable amounted to RMB 1,499,000, a decrease of 71.0% from RMB 5,163,000 in 2022[33] - The overdue accounts receivable aged analysis shows that RMB 220,000 was overdue within 3 months, RMB 697,000 between 3 to 9 months, RMB 451,000 between 9 to 21 months, and RMB 131,000 over 21 months[33] - The company believes that the credit quality has not significantly changed and expects to fully recover overdue accounts receivable[33] Market Conditions - Real estate development investment in China was RMB 1,109.13 billion, down 9.6% year-on-year, while the total construction area by real estate developers decreased by 7.2% to 838.364 million square meters[36] - The national commodity housing sales area was 1.11735 billion square meters, a decline of 8.5%, and the sales amount was RMB 1,166.22 billion, down 6.5%[36] - In Nantong, the total sales area of commodity housing decreased by 5.2% year-on-year, with residential sales area down 15.8%[42] - In Huzhou, total real estate investment was RMB 60.55 billion, a decrease of 14%, with residential investment down 17.4% to RMB 45.84 billion[44] - The land transaction area and transaction amount in 300 cities nationwide decreased by 21% and 18% year-on-year, respectively, reaching a near ten-year low[39] - The overall industrial added value in China grew by 4.6% year-on-year, with December 2023 showing a 4.0% increase compared to the previous year[37] - Consumer goods retail sales totaled RMB 4,714.95 billion, reflecting a year-on-year growth of 7.2%[37] Business Strategy and Governance - The company continues to focus on providing real estate consulting and sales agency services in the China and Southeast Asia markets[9] - The management is focused on expanding real estate consulting and sales agency services in first and second-tier cities to increase project numbers[57] - The group plans to continue evaluating its business strategy in Cambodia due to the ongoing impact of the pandemic on the real estate market[52] - The company has not separated the roles of Chairman and CEO, with Mr. Jiang Chenfeng holding both positions, which the board believes enhances leadership and strategic effectiveness[74] - The company will continue to review corporate governance practices to ensure compliance with governance codes[75] - All directors confirmed compliance with the standard code of conduct for securities trading as of December 31, 2023[76] - The Audit Committee, consisting of three independent non-executive directors, is responsible for overseeing the financial reporting process and internal controls[78] - The financial results for the year ended December 31, 2023, have been approved by the independent auditor, Tianjian International CPA Limited[80] - The annual report for 2023 will be sent to shareholders and published on the company's and the stock exchange's websites[81] - The 2024 Annual General Meeting is scheduled for June 21, 2024[82]

Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 7,853,000, an increase of 20.8% compared to RMB 6,502,000 for the same period in 2022[6] - Gross profit for the same period was RMB 1,303,000, representing a gross margin of 16.6%, up from RMB 1,050,000 in 2022[6] - Investment income and other gains for the period increased to RMB 598,000 from RMB 308,000, marking a growth of 94%[6] - The company reported a loss before tax of RMB 3,790,000, slightly improved from a loss of RMB 3,926,000 in the previous year[6] - Basic and diluted loss per share for the period was RMB 1.54, compared to RMB 1.59 in the same period last year[6] - The company reported a net loss attributable to owners of approximately RMB 3,790 thousand for the six months ended June 30, 2023, slightly improved from a loss of RMB 3,926 thousand in the same period last year[31] - The net loss for the period was approximately RMB 3.8 million, slightly improved from a net loss of RMB 3.9 million in the same period last year[59] Assets and Liabilities - Total assets decreased to RMB 45,197,000 as of June 30, 2023, down from RMB 49,708,000 at the end of 2022[11] - Net assets decreased to RMB 16,658,000 from RMB 20,391,000, reflecting a decline of 18.4%[11] - Cash and cash equivalents at the end of the period were RMB 5,071,000, down from RMB 6,731,000 at the end of 2022[11] - The accounts receivable from customer contracts decreased to RMB 7,230 thousand as of June 30, 2023, down from RMB 8,558 thousand as of December 31, 2022[23] - The company's trade receivables as of June 30, 2023, amounted to RMB 9,806,000, a decrease of 15.8% from RMB 11,671,000 as of December 31, 2022[35] - The credit loss provision for trade receivables was RMB 2,576,000, down from RMB 3,113,000, resulting in net trade receivables of RMB 7,230,000[35] - The aging analysis of trade receivables shows that RMB 3,276,000 (45.3%) were within 0 to 90 days, while RMB 2,393,000 (33.1%) were aged between one to two years[36] - As of June 30, 2023, the group's unaudited current assets net value was approximately RMB 12.6 million, down from RMB 15.9 million as of December 31, 2022[70] - The total unaudited assets value as of June 30, 2023, was approximately RMB 32.5 million, compared to RMB 36.7 million as of December 31, 2022[70] - The unaudited shareholders' equity as of June 30, 2023, was approximately RMB 16.7 million, a decrease from RMB 20.4 million as of December 31, 2022[70] - The current ratio decreased from 3.66 as of December 31, 2022, to 3.25 as of June 30, 2023[70] - The group's capital debt ratio was 48.6% as of June 30, 2023, up from 39.2% as of December 31, 2022[71] Cash Flow - For the six months ended June 30, 2023, the net cash used in operating activities was RMB (1,787) thousand, compared to RMB 1,471 thousand for the same period in 2022, indicating a significant decline in operational cash flow[15] - The cash and cash equivalents decreased to RMB 5,071 thousand at the end of the period, down from RMB 6,414 thousand at the beginning of the period[15] - The net cash used in financing activities was RMB (142) thousand, a significant improvement compared to RMB (3,000) thousand in the same period last year[15] Market and Business Strategy - The company plans to focus on expanding its market presence and enhancing its product offerings in the upcoming quarters[6] - The real estate market is expected to gradually recover, but the impact of various supportive policies has yet to fully materialize, indicating a need for time to reverse the downward trend[56] - The company executed 6 comprehensive real estate consulting and sales agency projects during the period, with a total building area of approximately 11,000 square meters sold[62] - The company's revenue primarily came from Jiangsu Province, accounting for approximately 84.1% of total revenue, followed by Zhejiang Province at 13.6% and Shanghai at 2.1%[59] Shareholder Information - Ms. Lin holds 43,722,460 shares, representing 17.76% of the company[87] - Mr. Han owns 7,051,801 shares, accounting for 2.86% of the company[87] - Ms. Zhang has a total of 89,659,979 shares, which is 36.42% of the company[87] - The total issued shares of the company as of June 30, 2023, is 246,183,390[92] - Active Star holds 89,659,979 shares, representing 36.42% of the company[93] - Upwell Assets owns 43,722,460 shares, which is 17.76% of the company[93] - Heng Wei Agent Limited has 19,528,103 shares, accounting for 7.93% of the company[93] - Mr. Ho holds 19,528,103 shares, representing 7.93% of the company[93] - Ms. Ma has 19,528,103 shares, which is 7.93% of the company[93] - Major shareholders include Mr. He Houxi with 19,528,103 shares (7.93%) and Ms. Yang Xin with the same number of shares (7.93%)[95] - Mr. Zhu Kai holds 9,998,000 shares (4.06%) and an additional 3,096,000 shares (1.26%) through a controlled corporation[95] Stock Options and Corporate Governance - The company has a stock option plan effective for ten years since June 17, 2016, aimed at rewarding selected participants for their contributions[99] - As of June 30, 2023, there are 1,200,000 unexercised stock options held by Director Jiang Chenfeng, with an exercise price of HKD 1.130[99] - Director Zhang Xiuhua holds 900,000 unexercised stock options, also with an exercise price of HKD 1.130[99] - The stock options plan includes directors, employees, suppliers, customers, and consultants as eligible participants[99] - The company’s stock options are set to expire between 2018 and 2029, depending on the grant date[99] - The company has granted a total of 6,800,000 stock options, representing approximately 2.76% of the issued share capital as of the mid-term report date[102] - The maximum number of stock options that can be granted under the plan is capped at 30% of the issued shares, which amounts to 73,855,017 shares[102] - The company maintained sufficient public float as required by the listing rules prior to the printing of the mid-term report[104] - The audit committee reviewed the unaudited condensed consolidated interim financial statements for the six months ended June 30, 2023, with no objections to the accounting treatments adopted[110] - The company has complied with the corporate governance code, except for the combined roles of Chairman and CEO, which the board believes enhances leadership effectiveness[106] - The company’s board of directors confirmed compliance with the standard code of conduct for securities transactions during the six-month period[107]

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的內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告 全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 Fortune Sun (China) Holdings Limited 富陽（中國）控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：00352） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 的 中 期 業 績 公 告 富陽（中國）控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈，本公 司及其附屬公司（統稱「本集團」）截至二零二三年六月三十日止六個月（「回顧期 間」或「期內」）未經審核簡明綜合中期業績，連同二零二二年的比較數字如下： 簡明綜合損益表 截至二零二三年六月三十日止六個月 截至六月三十日止六個月 二零二三年 二零二二年 附註 人民幣千元 人民幣千元 （未經審核） （未經審核） 收益 4 7,853 6,502 服務成本 (6,550) (5,452) 毛利 1,303 1,050 ...

Market Performance - In 2022, the national sales area of commercial housing was 1.36 billion square meters, a year-on-year decline of 24.3%[8] - The sales amount for the same period was 13.3 trillion yuan, down 26.7% year-on-year[8] - The inventory of commercial housing exceeded 500 million square meters, with residential inventory rising 18% year-on-year to over 270 million square meters[8] - The overall development investment and sales both fell to a five-year low, indicating significant pressure on the investment side[8] - The land market saw a nearly 40% year-on-year decline in transaction volume and value, with the overall bidding rate dropping to below 4%, a decrease of over 60% year-on-year[29] - The threshold for the top 100 real estate companies fell to RMB 10 billion, a decline of over 50% compared to RMB 27.1 billion in the previous year[30] - The company experienced increased promotional expenses in 2022 due to market downturns, leading to a decline in gross profit[10] Financial Performance - The company will not recommend the distribution of a final dividend for the year ending December 31, 2022, to maintain healthy liquidity levels[12] - The overall gross profit for the year was approximately RMB 0.3 million, down from RMB 9.9 million in the previous year, resulting in a gross margin decrease to 2.5% from 24.6%[33] - The company recorded a net loss attributable to shareholders of approximately RMB 14.3 million for the year, compared to a loss of RMB 2.9 million in 2021[33] - As of December 31, 2022, the group's net current assets were approximately RMB 15,898,000, down from RMB 25,634,000 in 2021, indicating a decrease of about 38.5%[44] - The total assets of the group as of December 31, 2022, were approximately RMB 36,708,000, a decline from RMB 44,118,000 in 2021, representing a decrease of about 16.5%[44] - The group's equity attributable to owners was approximately RMB 20,391,000 as of December 31, 2022, down from RMB 34,259,000 in 2021, reflecting a decrease of about 40.5%[44] - The capital debt ratio of the group was 39.2% as of December 31, 2022, compared to 14.6% in 2021, indicating a significant increase in leverage[48] Strategic Focus and Future Plans - The company plans to focus on a "housing is for living, not for speculation" policy in 2023, with expectations for market recovery in the second half of the year[11] - Financing conditions for real estate companies are expected to improve, with increased support for reasonable financing needs and a broadening of financing channels[11] - The market is anticipated to reach peak transaction volumes in core cities in the third and fourth quarters of 2023, driving recovery in second and third-tier cities[11] - The company will continue to align its market positioning with domestic economic and market developments in 2023, focusing on leveraging its experience advantages and existing industry resources[15] - The company aims to expand its real estate consulting, sales agency, and asset management businesses in first- and second-tier cities to increase project quantity and identify suitable investment opportunities[15] Operational Efficiency and Cost Management - The company is committed to reducing operating expenses and strictly controlling cash flow through enhanced budget management and cost control to ensure a healthy financial status[15] - The overall operating and administrative expenses increased by approximately 13.7% compared to the previous year, primarily due to increased research costs related to industry trends[33] - The company aims to reduce greenhouse gas emissions by 3% before 2026, aligning with local government regulations by 2030 and achieving carbon neutrality by 2050[62] - The company has established a governance framework for environmental, social, and governance (ESG) factors, integrating them into operations to create sustainable value for stakeholders[75] Employee and Workplace Management - The total number of employees at the end of the reporting period was 80, with a gender ratio of 1:1.29 (45 males and 35 females) [107] - The employee turnover rate was 45%, with 65 employees leaving during the reporting period [107] - The company emphasizes employee training and well-being to create a harmonious and safe working environment [103] - The company has established an employee welfare committee to enhance employee cohesion and morale through various activities[115] - The company provides competitive compensation and benefits to attract and retain qualified employees [112] Environmental Impact and Sustainability - The total greenhouse gas emissions for the reporting period were 24.89 tons, a decrease from 33.56 tons in the previous year, representing a reduction of approximately 26%[141] - The company aims to reduce all emissions, energy consumption, and resource consumption by 3% before 2026[133] - The company has established a green office policy to enhance environmental awareness among employees[147] - The company has identified climate-related risks and opportunities that are critical to its assets and services, focusing on enhancing operational reliability and efficiency[169] Governance and Compliance - The group has a zero-tolerance policy towards corruption, bribery, and fraud, adhering to local and national anti-corruption laws[93] - All employees and directors are required to undergo anti-corruption training and sign a corporate integrity guarantee[95] - The company has complied with all relevant laws and regulations that significantly impact its operations during the year[190] - The company has established measures to prevent child labor and forced labor within its operations[179]

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的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 Fortune Sun (China) Holdings Limited 富 陽（ 中 國 ）控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：00352） 截至二零二二年十二月三十一日止年度 全年業績公告 富陽（中國）控股有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈本公司 及其附屬公司（統稱「本集團」）截至二零二二年十二月三十一日止年度（「本年 度」）的經審核綜合業績，連同二零二一年的比較數字呈列如下： 綜合損益表 截至二零二二年十二月三十一日止年度 二零二二年 二零二一年 附註 人民幣千元 人民幣千元 收益 4 11,925 40,243 銷售成本 (11,621) (30,357) 毛利 304 9,886 ...

C M Y CM MY CY CMY K ai16632904588_Fortune Sun IR2022 Cover 5mm op.pdf 1 16/9/2022 上午9:07 目錄 | 公司資料 | 2 | | --- | --- | | 簡明綜合損益表 | 4 | | 簡明綜合損益及其他全面收益表 | 5 | | 簡明綜合財務狀況表 | 6 | | 簡明綜合權益變動表 | 7 | | 簡明綜合現金流量表 | 8 | | 簡明綜合中期財務報表附註 | 9 | | 管理層討論與分析 | 19 | | 披露權益 | 28 | | 其他資料 | 34 | 公司資料 董事會 執行董事 江陳鋒先生 （主席） 張秀華女士 韓林先生 非執行董事 林倩如女士 鄒耀明先生 （主席） 崔士威先生 林俊才先生 獨立非執行董事 林俊才先生 崔士威先生 鄒耀明先生 薪酬委員會 執行委員會 崔士威先生 （主席） 林俊才先生 鄒耀明先生 江陳鋒先生 （主席） 張秀華女士 韓林先生 審核委員會 香港 九龍尖沙咀 廣東道21號 海港城港威大廈 第五座 16樓 富陽（中國）控股有限公司 二零二二年中期報告 02 公司資料 開曼群島股份過戶登 ...

Real Estate Market Overview - In 2021, the real estate market experienced significant challenges, with a decline in investment and both supply and transaction volumes dropping [5]. - The sales area and sales amount of commodity residential properties maintained double-digit growth, but the overall market growth rate significantly decreased compared to 2020 [6]. - By the end of December 2021, the national inventory of commercial housing reached 51.023 million square meters, an increase of 1.137 million square meters year-on-year, marking a historical high [6]. - The real estate industry faced significant challenges in 2021, with investment contraction and declines in both supply and transaction volume [27]. - Despite the overall downturn, the new residential property market saw a slight increase in transaction volume and average price compared to the end of 2020 [27]. - In 2021, the real estate market saw a 15.5% year-on-year decline in transaction area, while transaction value increased by 2.8% compared to the end of 2020 [28]. - The forecast for GDP growth in 2022 is 5.5%, with the real estate industry expected to experience cautious investment trends due to market confidence issues [40]. - The new residential market in China is anticipated to enter a phase of negative growth in 2022, with sales volume slightly declining and average prices remaining stable [43]. - The overall performance of the Chinese housing market is expected to stabilize in 2022, with core cities likely to maintain growth while lower-tier cities face inventory pressure [43]. Company Financial Performance - The company faced increased promotional expenses in the second half of 2021 due to market downturns, leading to a decrease in gross profit [8]. - The group's gross profit for the year was approximately RMB 9.9 million, down from RMB 10.7 million the previous year, resulting in a gross profit margin decrease to 24.6% from 40.0% [34]. - The group recorded a loss attributable to shareholders of approximately RMB 2.9 million for the year, compared to a profit of RMB 58,000 the previous year [34]. - The overall operating and administrative expenses increased by approximately 7.4% year-on-year, primarily due to increased business travel for seeking opportunities [34]. - Revenue from comprehensive real estate consulting and sales agency services accounted for approximately 97.6% of total revenue, up from 85.0% in 2020 [35]. - The group's revenue from comprehensive real estate consulting and sales agency services increased by approximately 41.8% year-on-year, driven by strong market momentum [36]. - The company will not recommend the distribution of a final dividend for the year ending December 31, 2021, due to the need to maintain healthy liquidity levels amid market uncertainties [9]. - The company adopted a dividend policy targeting a payout ratio of 10% to 30% of consolidated net profit for the fiscal year [183]. - As of December 31, 2021, the company's distributable reserves amounted to approximately RMB 4,495,000, a decrease from RMB 8,883,000 in 2020 [191]. - The board has decided not to recommend any final dividend for the year ended December 31, 2021 [182]. Business Strategy and Future Plans - In 2022, the company plans to expand its real estate consulting, sales agency, and asset management businesses in first- and second-tier cities to identify suitable investment opportunities [10]. - The company aims to strengthen budget management and cost control to reduce operating expenses and ensure a healthy financial status for sustainable long-term development [10]. - The company plans to continue exploring opportunities in the Southeast Asian market, particularly in Cambodia, despite the significant impact of the pandemic on performance [44]. - The company is committed to sustainable development and aims to integrate sustainability into its business value chain [65]. - The company aims to provide comprehensive and high-quality real estate consulting and sales services to its clients, ensuring accurate project information and market insights [180]. Environmental, Social, and Governance (ESG) Initiatives - The board has established a cross-departmental ESG working group to enhance cooperation and ensure consistent performance [70]. - The company has set clear short-term and long-term sustainability goals to achieve continuous emission reduction progress [70]. - The company will continue to monitor and review its ESG performance regularly [71]. - A total of 28 sustainability issues were identified through an online survey involving internal and external stakeholders, focusing on areas such as labor practices, environmental protection, and community investment [76]. - The importance matrix identified 10 key ESG issues prioritized by stakeholders, including business ethics, anti-corruption training, customer satisfaction, and employee development [82]. - The company emphasizes the protection of customer privacy and corporate data, ensuring compliance with all relevant laws and regulations regarding data privacy [85]. - A zero-tolerance policy towards corruption, bribery, and fraud is enforced, with all employees required to undergo anti-corruption training and sign a compliance agreement [86]. - The company has established an Environmental, Social, and Governance (ESG) working group to integrate ESG factors into operations and report on performance regularly to management [74]. - The company has implemented various resource-saving measures, including energy-efficient lighting and water-saving devices, to reduce operational carbon footprint [129]. - The company has identified climate-related risks and opportunities, emphasizing the importance of transitioning to a low-carbon economy [149]. Employee Management and Welfare - The total number of employees as of December 31, 2021, was 101, with a gender ratio of 1:1.15 (54 males and 47 females) [99]. - The employee turnover rate was 9%, with 105 employees leaving, including 43 males (7%) and 62 females (11%) [99]. - The company has established a "Intellectual Property Management System" to protect the rights of the group and its clients, adhering to relevant laws such as the Patent Law and Copyright Law [91]. - The company emphasizes employee welfare by providing competitive salaries, statutory holidays, and various benefits, including marriage leave and transportation allowances [94]. - The company encourages employee feedback through dedicated channels, ensuring confidentiality and prompt follow-up on complaints or suggestions [98]. - The company aims to create a harmonious and safe working environment to retain talent and enhance employee satisfaction [93]. - A total of 85 employees, representing 84% of the workforce, received training during the year, with 47 males (87%) and 38 females (81%) participating [108]. - The average training hours per employee totaled 799 hours, with both male and female employees averaging 8 hours each [108]. - The company has implemented a system to ensure no child or forced labor is employed, with no significant non-compliance cases reported during the year [95]. Supply Chain Management - The company maintained a total of 20 primary suppliers, all located in China, ensuring a stable supply chain [112]. - The company has implemented a supplier selection and evaluation process to ensure quality products and services, with performance assessments conducted post-delivery [113]. - All suppliers are required to adhere to the company's Supplier Code of Conduct, which includes five key areas: working conditions, environmental responsibility, delivery quality standards, anti-corruption, and intellectual property [114]. Operational Performance and Compliance - The company has complied with all relevant laws and regulations that have a significant impact on its operations during the fiscal year ending December 31, 2021 [176]. - The company did not violate any environmental laws or regulations during the reporting year [120]. - The company has not received any complaints regarding its products or services during the reporting period, indicating compliance with health, safety, and advertising regulations [90]. - The company faces significant risks and uncertainties, which are discussed in the management discussion and analysis section of the report [181].

Financial Performance - The company reported revenue of RMB 24,741,000 for the six months ended June 30, 2021, a significant increase of 243% compared to RMB 7,217,000 in the same period of 2020[5] - Gross profit for the same period was RMB 6,620,000, up from RMB 1,957,000, reflecting a gross margin improvement[5] - The company achieved a profit before tax of RMB 173,000, a turnaround from a loss of RMB 4,173,000 in the previous year[5] - Total comprehensive income for the period was RMB 145,000, compared to a loss of RMB 4,084,000 in the prior year[6] - Basic earnings per share improved to RMB 0.1 from a loss of RMB 1.7 per share in the same period last year[5] - The company recorded a net profit of approximately RMB 0.2 million for the six months ended June 30, 2021, compared to a net loss of approximately RMB 4.2 million in the same period last year, indicating a turnaround in performance[46] Assets and Liabilities - The company's total assets as of June 30, 2021, were RMB 42,465,000, slightly up from RMB 42,320,000 at the end of 2020[9] - Current assets amounted to RMB 33,353,000, compared to RMB 33,977,000 at the end of 2020, indicating a decrease in liquidity[9] - The company maintained a net asset value of RMB 37,465,000, an increase from RMB 37,320,000 at the end of the previous year[9] - The company had no short-term borrowings and long-term borrowings of RMB 5 million as of June 30, 2021, consistent with the previous year[59] - The company has no significant contingent liabilities as of June 30, 2021[39] Revenue Sources - Total revenue from real estate consulting and sales agency services in China reached RMB 24,403 thousand for the six months ended June 30, 2021, a significant increase of 345% from RMB 5,462 thousand in 2020[19] - Revenue from comprehensive real estate consulting and sales agency services accounted for approximately 98.6% of total revenue, up from 77.2% in the same period last year[46] - The company executed 12 comprehensive real estate consulting and sales agency projects in China and Cambodia, with a total floor area of approximately 83,000 square meters, a significant increase from 9 projects and 42,000 square meters in the same period last year[49] - The company provided pure real estate planning consulting services for 3 property development projects, generating total revenue of approximately RMB 331,000, which accounted for about 1.4% of total revenue, down from 22.8% in the same period last year[52] Cash Flow and Investments - The company’s net cash used in operating activities for the six months ended June 30, 2021, was RMB (1,425) thousand, compared to RMB (8,826) thousand for the same period in 2020, indicating an improvement[12] - The net cash generated from investing activities was RMB 6,946 thousand for the six months ended June 30, 2021, slightly down from RMB 7,264 thousand in 2020[12] - The cash and cash equivalents at the end of the period increased to RMB 11,909 thousand from RMB 8,646 thousand at the end of the previous year[12] - The company acquired property, plant, and equipment amounting to RMB 45,000 during the review period, unchanged from the same period in 2020[28] Operational Efficiency - The company’s operating and administrative expenses decreased by approximately 3.3% during the reporting period due to strict cost-saving measures[44] - The liquidity ratio increased from 5.90 as of December 31, 2020, to 6.76 as of June 30, 2021, indicating improved financial stability[57] Market Conditions and Future Outlook - The real estate market in China showed a strong recovery, with GDP growth of approximately 12.7% year-on-year and a record high in national commodity housing sales of about RMB 9.3 trillion, up approximately 38.9% year-on-year[40] - The company anticipates a continued tight regulatory environment in China's real estate market, with a focus on cautious operations and risk prevention[53] - The company is closely monitoring the economic and market conditions in China due to the impact of the Delta variant of COVID-19, which may hinder economic recovery[56] - The company plans to enhance cost control measures and strictly manage cash flow to improve operational performance in the second half of the year[56] Shareholder Information - Active Star holds 89,659,979 shares, representing 36.42% of the total shares issued as of June 30, 2021[80] - Upwell Assets owns 43,722,460 shares, accounting for 17.76% of the total shares issued as of June 30, 2021[80] - The total number of shares issued by the company as of June 30, 2021, is 246,183,390[82] - The stock option plan was adopted on June 17, 2016, and is valid for ten years, allowing the company to grant options to selected participants[83] - The stock options granted to Zhang and Jiang amount to 4,200,000 shares, with 1,800,000 and 2,400,000 shares respectively[79] Corporate Governance - The company has adhered to the corporate governance code, with no deviations reported for the six months ending June 30, 2021[95] - All directors confirmed compliance with the standard code of conduct for securities trading for the six months ending June 30, 2021[96] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited interim financial statements for the six months ending June 30, 2021[98]

目錄 | | 頁次 | | --- | --- | | 公司資料 | 2 | | 主席報告 | 4 | | 董事及高級管理層 | 6 | | 管理層討論及分析 | 9 | | 環境、社會及管治報告 | 19 | | 董事會報告 | 38 | | 企業管治報告 | 53 | | 獨立核數師報告 | 66 | | 綜合損益表 | 72 | | 綜合損益及其他全面收益表 | 73 | | 綜合財務狀況表 | 74 | | 綜合權益變動表 | 76 | | 綜合現金流量表 | 77 | | 綜合財務報表附註 | 79 | | 財務資料摘要 | 135 | | 主要房地產摘要 | 136 | 公司資料 董事會 執行董事 江陳鋒先生 （主席） 張秀華女士 韓林先生 非執行董事 林倩如女士 獨立非執行董事 崔士威先生 林俊才先生 鄒耀明先生 執行委員會 江陳鋒先生 （主席） 張秀華女士 韓林先生 審核委員會 鄒耀明先生 （主席） 崔士威先生 林俊才先生 薪酬委員會 崔士威先生 （主席） 林俊才先生 鄒耀明先生 提名委員會 江陳鋒先生 （主席） 林俊才先生 鄒耀明先生 註冊辦事處 2nd Floor, Century Yar ...

Financial Performance - Revenue for the six months ended June 30, 2020, was RMB 7,217,000, an increase of 6.4% compared to RMB 6,782,000 for the same period in 2019[5] - Gross profit for the period was RMB 1,957,000, compared to a gross loss of RMB 1,825,000 in the previous year, indicating a significant turnaround[5] - The company reported a loss before tax of RMB 4,173,000, which is a 53% improvement from a loss of RMB 8,852,000 in the same period last year[5] - Basic and diluted loss per share improved to RMB 1.7 from RMB 2.5 year-on-year, reflecting better operational performance[5] - The company reported a total comprehensive loss of RMB (6,049) thousand for the six months ended June 30, 2020, compared to a loss of RMB (8,781) thousand in the previous period[10] - The net loss for the period was approximately RMB 4.2 million, a significant decrease of about 52.9% compared to a net loss of approximately RMB 8.9 million in the same period last year[46] Assets and Liabilities - Total assets decreased to RMB 35,840,000 as of June 30, 2020, down from RMB 42,940,000 at the end of 2019[9] - Current liabilities were reduced to RMB 7,158,000 from RMB 8,555,000, indicating improved liquidity management[9] - The company's net asset value decreased to RMB 33,394,000 from RMB 39,534,000, primarily due to the losses incurred[9] - The company reported a net asset value of approximately RMB 28.7 million as of June 30, 2020, down from RMB 34.4 million as of December 31, 2019[63] - The total assets were approximately RMB 40.5 million as of June 30, 2020, compared to RMB 48.2 million as of December 31, 2019[63] Cash Flow - For the six months ended June 30, 2020, the net cash used in operating activities was RMB (8,826) thousand, an improvement from RMB (15,504) thousand in the same period of 2019[13] - The net cash generated from investing activities was RMB 7,264 thousand, compared to RMB (2,842) thousand in the prior year, indicating a positive shift in investment cash flow[13] - The cash and cash equivalents at the end of the period were RMB 8,646 thousand, slightly down from RMB 10,528 thousand at the beginning of the period[13] Trade Receivables - The company reported an increase in trade receivables to RMB 12,806,000 from RMB 11,443,000, suggesting a growth in sales[9] - Accounts receivable from customer contracts increased to RMB 12,806 thousand as of June 30, 2020, compared to RMB 11,443 thousand as of December 31, 2019[21] - The total trade receivables increased to RMB 13,593,000 as of June 30, 2020, up from RMB 12,230,000 as of December 31, 2019[31] - The average credit period granted to customers is 90 days, with trade receivables net of provisions amounting to RMB 12,806,000[31] - The company maintained a strict control over its overdue receivables, with a significant portion (RMB 5,348,000) of trade receivables aged 0 to 90 days[32] Operational Highlights - The company operates primarily in the real estate market in China and Southeast Asia, focusing on providing consulting and sales agency services[21] - Revenue from comprehensive real estate consulting and sales agency services accounted for approximately 77.2% of total revenue, down from 91.3% in the same period last year[46] - The company executed 9 comprehensive real estate consulting and sales agency service projects in China and Cambodia, with a total floor area of approximately 42,000 square meters[49] - Revenue from pure real estate planning and consulting services was approximately RMB 1.646 million, representing 22.8% of total revenue, up from 8.7% in the same period last year[52] - The company anticipates continued demand for real estate market consulting services from small and medium-sized developers due to market uncertainties caused by the pandemic[52] Cost Management - The overall operating and administrative expenses decreased by approximately 11.7% due to strict cost-saving measures and a voluntary 20% salary reduction for directors and senior management[44] - The company aims to enhance its operational performance in the second half of 2020 by controlling costs and cash flow[59] Shareholder Information - Mr. Jiang holds 89,659,979 shares of ordinary stock, representing approximately 36.42% of the company[76] - Ms. Lin holds 43,722,460 shares of ordinary stock, representing approximately 17.76% of the company[76] - Mr. Han holds 7,051,801 shares of ordinary stock, representing approximately 2.86% of the company[76] - The total number of shares issued by the company as of June 30, 2020, is 252,983,390[80] - The company has adopted a share option plan to reward eligible participants, including employees, for their contributions[73] Market Conditions and Future Outlook - The company expects the policy environment for the real estate industry to improve in the second half of 2020, which may lead to gradual performance recovery[41] - The Cambodian real estate market was significantly impacted by the pandemic, with a sharp decline in export orders and housing demand[44] - The company is assessing its business plans in Cambodia due to significant uncertainties in the real estate market caused by the pandemic[60] - The company plans to expand its residential property consulting and agency services in China's second to fourth-tier cities[57] - The company is exploring opportunities in other cities in China to maintain its market share[57] Compliance and Governance - The audit committee, composed of three independent non-executive directors, reviewed the unaudited interim financial statements for the six months ending June 30, 2020[105] - The company has adopted a code of conduct for directors' securities trading, confirming compliance with the standards set forth in the listing rules[104] - The company believes that having the same individual serve as both chairman and CEO ensures consistent leadership and effective strategic deployment[103]