Financial Performance - The company reported a total revenue of HKD 3,479,216 thousand for the year ending December 31, 2023, compared to HKD 3,269,309 thousand in 2022, reflecting an increase of approximately 6.4%[4] - In 2023, the group's revenue was approximately HKD 1,295,000,000, a decrease of about 15% compared to HKD 1,517,000,000 in 2022[26] - The group reported a loss attributable to shareholders of approximately HKD 531,000,000, compared to a loss of HKD 580,000,000 in 2022[26] - The property agency business revenue was approximately HKD 1,251,000,000, down from HKD 1,426,000,000 in 2022, accounting for about 97% of total revenue[26] - The financial services segment generated revenue of approximately HKD 44,000,000, down from HKD 91,000,000 in 2022, accounting for about 3% of total revenue[32] Business Operations - Property agency services accounted for 94% of the total revenue in 2023, maintaining a strong focus on this core business segment[5] - The company aims to expand its agency projects across various regions to strengthen its leading position in the domestic real estate service market[7] - The company has established partnerships with over 50 cities and is collaborating closely with major developers such as Vanke and China Overseas Land & Investment[7] - The company has a comprehensive service network covering major cities in China, enhancing its market reach and operational capabilities[11] - The group has over 900 agency projects covering more than 50 cities nationwide, with approximately 110 branches for second-hand properties[32] Management and Governance - The management team includes experienced professionals with over 28 years of experience in real estate development and related businesses[13] - The audit committee, consisting of independent non-executive directors, has reviewed the audited financial statements for the year ending December 31, 2023[17] - The company has no established corporate governance committee; the board is responsible for governance functions, including policy formulation and compliance[52] - The company’s governance policies and practices are regularly reviewed to ensure compliance with legal and regulatory requirements[52] - The board's focus includes long-term goals, overall strategy, and monitoring financial and operational performance[51] Financial Position - The group maintains a strong financial position with cash and bank deposits of approximately HKD 299 million as of December 31, 2023, down from HKD 394 million in 2022[38] - The current ratio is 4.26, an increase from 3.72 in 2022, indicating improved liquidity[38] - Total borrowings amount to approximately HKD 167 million, a decrease from HKD 232 million in 2022[38] - The capital debt ratio is approximately 7.8%, slightly up from 7.6% in 2022, reflecting stable leverage[38] Strategic Plans - The group plans to solidify its new housing business and optimize its layout and scale in Guangzhou and the Greater Bay Area in 2024[35] - The group aims to enhance its existing transaction, value research, and assessment businesses, focusing on better synergy between primary and secondary markets[35] - The group is committed to leveraging technology and developing new media businesses to enhance its offline transaction services and expand resource integration[36] Environmental, Social, and Governance (ESG) - The company has implemented various environmental and social policies to support sustainable development[164] - The company aims to maintain greenhouse gas emissions, non-hazardous waste, and resource usage at the same level as 2023, with a reduction target of approximately 5% for 2024[167] - Total greenhouse gas emissions for the year amounted to approximately 2,333 tons of CO2 equivalent, a decrease from 4,414 tons in 2022[183] - The company has established a working group to collect relevant ESG data and report to the board on the effectiveness of internal controls and risk management[167] - The company engages with stakeholders through various channels to understand their concerns and expectations regarding financial performance and business development[176] Shareholder Information - The company has a dividend policy approved in 2019, aimed at enhancing transparency for shareholders[78] - The company did not recommend the distribution of a final dividend for the year ending December 31, 2023, consistent with the previous year where no dividend was declared[105] - The company has established a shareholder communication policy, which will be regularly reviewed by the board to ensure its effectiveness[98] - The company’s articles of association allow shareholders to propose resolutions at special general meetings, subject to specific procedures[96] Employee Relations - The company recognizes the importance of maintaining good relationships with employees, customers, and business partners for sustainable development[109] - The group has approximately 5,300 full-time employees, emphasizing the importance of competitive compensation based on individual roles and performance[41] - The company has established a compensation policy based on employee performance, experience, and current market rates[150] Risk Management - The board reviews the effectiveness of risk management and internal control systems annually[85] - The internal audit department was established in 2006 to ensure compliance with group policies and procedures[84] - The company faces various financial risks, which are detailed in the consolidated financial statements[114]

Financial Performance - Total revenue for the year ended December 31, 2023, was HKD 1,294,513,000, a decrease from HKD 1,516,862,000 in the previous year, representing a decline of approximately 14.7%[2] - The company reported a loss from continuing operations of HKD 530,950,000 for the year, compared to a loss of HKD 246,020,000 in the previous year, indicating an increase in losses of about 115.5%[5] - Basic and diluted loss per share from continuing and discontinued operations was HKD 78.8 cents, compared to HKD 86.1 cents in the previous year, showing a slight improvement[7] - The company incurred a pre-tax loss of HKD 594,160,000, up from HKD 328,832,000 in the previous year, reflecting a worsening of approximately 80.7%[14] - Total comprehensive expenses for the current year amounted to HKD 638,325,000, down from HKD 944,829,000 in the previous year, reflecting a decrease of about 32.4%[18] - The profit/loss from continuing operations for the current year was HKD 1,532,000, a significant improvement from a loss of HKD 104,981,000 in the previous year[19] - The company reported a loss of HKD 529,418,000 for the current year, compared to a loss of HKD 748,367,000 in the previous year, indicating a reduction in losses by approximately 29.3%[16] - The total comprehensive income for the year was reported as HKD (108,907,000), compared to HKD (196,462,000) in the previous year, showing an improvement in comprehensive income[18] Assets and Liabilities - Total assets as of December 31, 2023, were HKD 1,792,608,000, down from HKD 2,559,154,000 in the previous year, a decrease of about 30%[8] - The company’s total liabilities decreased to HKD 352,458,000 from HKD 491,866,000, a reduction of approximately 28.3%[8] - The company’s cash and cash equivalents decreased to HKD 298,659,000 from HKD 393,966,000, a decline of approximately 24.2%[8] - The company recognized a provision for bad debts amounting to HKD 259,613,000 in 2023, compared to a reversal of HKD 59,731,000 in 2022[75] - The company’s total liabilities decreased from HKD 48,657,000 in 2022 to HKD 26,242,000 in 2023[72] Revenue Segments - The company is involved in property agency services and financial services, with total revenue from property agency services reported at HKD 1,419,017,000 for the year[32] - The financial services segment generated revenue of HKD 91,027,000, maintaining a stable contribution to overall income[32] - Total revenue for the year ended December 31, 2023, was HKD 4,309,528,000, with a significant portion coming from property agency services at HKD 1,425,835,000[45] - Revenue from continuing operations was HKD 1,294,513,000, while discontinued operations contributed HKD 2,792,666,000[45] - The financial services segment generated revenue of HKD 44,007,000, indicating a need for strategic improvements[53] - The group's property agency business revenue decreased from approximately 1,426 million HKD in 2022 to about 1,251 million HKD in 2023, accounting for approximately 97% of the total revenue[118] - The financial services segment's revenue was approximately 44 million HKD in 2023, down from about 91 million HKD in 2022, representing around 3% of the total revenue[123] Operational Strategies - The group plans to enhance its market expansion strategies to improve revenue streams in the upcoming fiscal year[44] - The company is focusing on new product development and technology advancements to drive future growth[44] - The group aims to optimize its operational efficiency to reduce the overall cost burden, particularly in central administration[53] - The group plans to enhance its existing transaction, value research, and evaluation businesses in 2024, focusing on better synergy between new and second-hand businesses[127] - The group is actively developing new media business and collaborating with internet companies to enhance its offline transaction services[96] - The group has implemented management improvements aimed at enhancing efficiency and reducing costs, despite the ongoing market adjustments[120] Market Conditions - In 2023, the real estate industry experienced a significant downturn, with national commercial housing sales area declining by approximately 17.7% to 1.12 billion square meters, and sales amount dropping by about 12.5% to 11.7 trillion yuan[116] - The central and local governments have introduced various supportive policies to stabilize the real estate market, including relaxing purchase and loan restrictions in major cities[126] - The group anticipates that 2024 will be a year of recovery for the domestic real estate market, with supply-demand imbalances expected to ease further[126] Corporate Governance - The company has appointed Mr. Lau Hang Wong as the company secretary, which is expected to enhance compliance with applicable laws and regulations[139] - The board of directors confirmed full compliance with the standards set out in the Listing Rules Appendix C3[141] - The audit committee, composed of three current independent non-executive directors, has reviewed the annual financial statements for the year ended December 31, 2023[144] Employee and Compensation - The group has approximately 5,300 full-time employees, emphasizing the importance of competitive compensation packages[100] - Total employee costs for the year amounted to HKD 1,019,049,000, down from HKD 1,339,405,000 in the previous year[75] Dividends and Share Options - The company did not recommend the payment of a final dividend for the year ending December 31, 2023, consistent with the previous year[57] - A stock option plan was adopted on May 23, 2023, allowing for the issuance of options not exceeding 10% of the company's issued share capital[108][109] - The fair value of share options granted under the plan was approximately HKD 41,648,000, based on an exercise price of HKD 1.85 per share[84]

Financial Performance - Revenue for the six months ended June 30, 2023, was HKD 699,901,000, a decrease of 76.4% compared to HKD 2,973,645,000 for the same period in 2022[2] - The company reported a loss before tax of HKD 178,169,000, significantly improved from a loss of HKD 641,650,000 in the previous year, representing a reduction of 72.2%[2] - The net loss for the period was HKD 151,050,000, compared to a net loss of HKD 663,875,000 in the same period last year, indicating a 77.3% improvement[2] - Total comprehensive loss for the period was HKD 277,784,000, down from HKD 814,090,000 in the previous year, reflecting a decrease of 65.8%[2] - The company incurred a financial asset impairment provision of HKD 109,289,000, compared to HKD 19,918,000 in the previous year, marking a significant increase[2] - Sales expenses for the period were HKD 601,817,000, down from HKD 3,049,435,000, a reduction of 80.3%[2] - Administrative expenses decreased to HKD 158,690,000 from HKD 328,760,000, a decline of 51.8%[2] - The company reported a foreign exchange loss of HKD 126,734,000, compared to a loss of HKD 150,215,000 in the previous year, showing a slight improvement[2] - The company reported a loss of HKD 814,090,000 for the period, reflecting ongoing financial challenges[196] - Total comprehensive expenses amounted to HKD 2,347,922,000, indicating substantial operational costs[199] Assets and Liabilities - As of June 30, 2023, total assets were HKD 2,183,995,000, down from HKD 2,559,154,000 at the end of the previous year[23] - The company’s equity attributable to owners was HKD 1,944,226,000, a decrease from HKD 2,234,034,000 in the previous year[23] - As of June 30, 2023, the company's cash and bank deposits were approximately HKD 318 million, down from HKD 394 million as of December 31, 2022[102] - The total borrowings amounted to approximately HKD 185 million, a decrease from approximately HKD 232 million as of December 31, 2022[102] - The company's capital debt ratio was approximately 7.3%, slightly down from 7.6% as of December 31, 2022[102] - As of June 30, 2023, the group has mortgaged investment properties and equipment valued at approximately HKD 33 million to secure bank loans, compared to HKD 35 million as of December 31, 2022[116] Market Performance - The total housing sales amount for the first half of 2023 was approximately HKD 69.5 billion, an increase of about 8% compared to HKD 64.5 billion in the same period last year[98] - The total housing sales area for the same period was approximately 3 million square meters[98] - The overall real estate market in mainland China saw a decline in sales area of approximately 5% year-on-year, totaling around 600 million square meters in the first half of 2023[110] - The real estate development sentiment index fell again in June, indicating a continued cautious attitude among homebuyers[110] Strategic Initiatives - The company plans to expand its market share and business revenue in Guangdong Province[101] - The company aims to establish an effective operational review mechanism and a complete authorization approval process to ensure timely and accurate decision-making[101] - The company will focus on risk control as a key operational principle and closely monitor changes in the financial environment and market[100] - The group aims to enhance operational efficiency and service levels in response to changing supply-demand dynamics in the real estate market[114] - The company plans to leverage its strengths in Guangzhou to create a favorable business environment[114] - The group is committed to ensuring stable operations and achieving a smooth transition to a mature development phase[114] Corporate Governance - The company did not declare an interim dividend for the six months ended June 30, 2023, consistent with the previous year[117] - The existing stock option plan authorized the issuance of 67,380,000 shares, representing 9.99% of the company's issued shares as of the date of the mid-term report[128] - Major shareholder Fu holds 195,616,312 shares, representing 29.02% of the company's issued capital[130] - The company has appointed a practicing lawyer as the company secretary to ensure compliance with applicable laws and regulations[137] - The company has not repurchased any shares since its listing date, nor have any subsidiaries bought or sold shares[149] - The company has adopted the corporate governance code as per the listing rules and confirmed full compliance with the standards[152] - The roles of Chairman and CEO were separated on May 24, 2023, to comply with corporate governance standards[154] - The company has confirmed that all directors have complied with the corporate governance code during the reporting period[152] - The company has not disclosed any significant changes in shareholdings or interests as of June 30, 2023[148] Stock Options and Performance Targets - The company has set performance targets for stock options to be realized by December 31, 2023, with 70% and 40% of shares allocated to the first and second batches of grantees, respectively[123] - The company has set performance targets for the fiscal year ending December 31, 2024, with stock options vesting based on achieving these targets[141] - As of June 30, 2023, the company reported a total of 168,537,497 shares registered under a subsidiary[146] - The company has a total of 112,418,263 shares registered under China-net Holding Ltd., fully owned by a major shareholder[146] Operational Challenges - The company reported a decrease in financial business performance compared to the same period last year due to various macroeconomic constraints[100] - The operational performance analysis indicates a significant decline in revenue across various segments, necessitating strategic reassessment[184] - The company incurred a loss during the period, with financing costs reported at HKD 487,174,000[187]

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。 HOPEFLUENT GROUP HOLDINGS LIMITED 合 富 輝 煌 集 團 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：733） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 之 中 期 業 績 合富輝煌集團控股有限公司（「本公司」）董事（「董事」）會欣然公佈本公司及 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之未經 審核綜合中期業績，連同二零二二年同期之比較數字如下： 簡明綜合損益及其他全面收入報表 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 千港元 千港元 （未經審核） （未經審核） 收益 3 699,901 2,973,645 其他收入 8,098 13,826 銷售開支 (601,817) (3,049,435) 行政開支 (158,690) (328,760) 金融資產之 ...

香港交易及結算所有限公司以及香港聯合交易所有限公司（「聯交所」）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。 HOPEFLUENT GROUP HOLDINGS LIMITED 合 富 輝 煌 集 團 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：733） 補充公告 有關截至二零二二年十二月三十一日止年度年報 茲提述合富輝煌集團控股有限公司（「本公司」，連同其附屬公司為「本集團」）於二 零二三年四月二十五日所刊發截至二零二二年十二月三十一日止年度年報（「二零 二二年年報」）。除文義另有所指外，本公告所用詞彙與二零二二年年報所界定者 具有相同涵義。 除二零二二年年報所披露資料外，本公司董事（「董事」）會（「董事會」）謹此提供有 關本集團金融服務業務的額外資料如下： (i) 客戶規模及多元化 截至二零二二年十二月三十一日止年度，本集團金融服務業務集中服務現有 經篩選的客戶及房地產公司。 ...

Financial Performance - The company's total revenue for 2022 was HKD 1,517,000,000, a decrease of 43% compared to 2021[14] - Shareholders' loss for the year reached HKD 580,000,000, with no final dividend recommended for the year ending December 31, 2022[14] - The group's total revenue for the year ended December 31, 2022, was HKD 1,517,000,000, a decrease of approximately 43% compared to HKD 2,669,000,000 in 2021[37] - The group reported a loss attributable to shareholders of HKD 580,000,000, compared to a loss of HKD 545,000,000 in 2021, with a basic loss per share of HKD 0.861[37] Property Agency Business - The property agency business revenue fell from HKD 2,489,000,000 in 2021 to HKD 1,426,000,000, representing a 43% decline[16] - The property agency business generated revenue of HKD 1,426,000,000, accounting for 94% of total revenue, while the financial services business contributed approximately HKD 91,000,000, or 6%[37] - The property agency business revenue decreased by 43% from approximately HKD 2,489,000,000 in 2021 to about HKD 1,426,000,000 due to a challenging industry environment[38] - The property agency business currently covers over 80 cities nationwide, with more than 1,100 projects and approximately 160 second-hand branches[39] Financial Services - The financial services segment reported a revenue of HKD 91,000,000 for 2022, showing a significant decrease due to external market conditions[16] - The financial services business recorded a total transaction amount of approximately HKD 512,000,000, with revenue of about HKD 91,000,000, down from approximately HKD 180,000,000 in 2021[41] Market Conditions - The overall market remains under pressure, with a slow recovery expected from government policies introduced at the end of the year[14] - The real estate market in China is expected to gradually warm up in 2023, with related indicators anticipated to improve[17] - The real estate development investment in China saw its first decline since 1999, impacting the overall market environment[14] - The company continues to focus on key cities with rapid urbanization and high value, adapting to market changes[16] Strategic Partnerships and Restructuring - In April, the company restructured its property agency business with Poly, and in November, it increased its stake with Country Garden Services to leverage mutual advantages[16] - The group restructured its cooperation model with Poly, acquiring a 43.9% stake in HeFu China while selling its stake in Poly Consulting Group[38] - The proposed restructuring involves the transfer of 43.9% equity from Poly to the company, allowing the company to fully own HeFu China[150] - Poly has committed to provide property agency services for properties valued at no less than RMB 80 billion annually for five years, starting from September 1, 2022[151] Governance and Management - The board of directors held 22 meetings in the fiscal year, demonstrating active governance and oversight[57] - The company does not have a CEO position; daily operations are overseen by executive directors and senior management[62] - The audit committee, composed of three independent non-executive directors, reviewed the financial statements for the year ending December 31, 2022[71] - The company’s governance policies and practices are regularly reviewed by the board to ensure compliance with legal and regulatory requirements[61] Risk Management - The group reported a satisfactory review of its risk management and internal control systems as of December 31, 2022[95] - The company has established a risk management and internal control system aimed at managing risks rather than eliminating them, ensuring reasonable assurance against significant misstatements or losses[94] - The board is responsible for overseeing the overall risk management and has committed to identifying and monitoring risks while implementing coordinated mitigation measures[94] Environmental, Social, and Governance (ESG) - The board of directors has established environmental and social governance (ESG) policies to support sustainable development[175] - The company has established a comprehensive environmental, social, and governance (ESG) reporting framework, focusing on stakeholder engagement and the importance of various ESG issues[180] - The total greenhouse gas emissions for the year ended December 31, 2022, were approximately 4,414 tons, a decrease from about 5,800 tons in the previous year, representing a reduction of approximately 24%[195] - The company has implemented measures to reduce environmental impact and regularly reviews the effectiveness of these measures[178] Employee Relations - The company expresses gratitude to all employees, shareholders, clients, and business partners for their ongoing support and trust[17] - The group has approximately 7,300 full-time employees, emphasizing the importance of human resources as a valuable asset[48] - The company has implemented a compensation policy based on employee performance, experience, and current market rates[161] Shareholder Communication and Dividends - The company has a policy for shareholder communication, which includes annual general meetings and special meetings to facilitate communication between shareholders and the board[108] - The board did not recommend a final dividend for the year ending December 31, 2022, consistent with the previous year[114] - No interim dividend was declared for the six months ending June 30, 2022, compared to HKD 0.005 per share for the same period in 2021[115]

香港交易及結算所有限公司以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。 HOPEFLUENT GROUP HOLDINGS LIMITED 合 富 輝 煌 集 團 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：733） 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度 全 年 業 績 合富輝煌集團控股有限公司（「本公司」）董事會（「董事」或「董事會」）欣然公 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 止年度之經審核綜合業績連同比較數字如下： 綜合損益及其他全面收入報表 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 千港元 千港元 （經重列） 持續經營業務 收益 3 1,516,862 2,669,143 其他收入 23,948 23,650 投資物業公平值變動 (4,135) 1,113 銷售開支 (1,383,509) (2,288,406) 行政開支 (488,036) (646 ...

Financial Performance - Revenue for the six months ended June 30, 2022, was HKD 2,973,645, a decrease of 24.4% compared to HKD 3,931,313 for the same period in 2021[2] - The company reported a loss before tax of HKD 641,650 for the six months ended June 30, 2022, compared to a profit in the same period of 2021[2] - The net loss attributable to owners of the company for the period was HKD 663,875, compared to a profit of HKD 41,938 in the prior year[5] - Total comprehensive loss for the period was HKD 814,090, a significant increase from a total comprehensive income of HKD 63,603 in the previous year[5] - Basic and diluted loss per share was HKD 72.26, compared to earnings of HKD 4.87 per share in the same period last year[5] - The revenue from property agency services was HKD 2,937,664 thousand, down 23.1% from HKD 3,821,157 thousand in the previous year[24] - Financing income, including interest income from receivables, was HKD 33,259 thousand, a decline of 58.1% compared to HKD 79,396 thousand in 2021[24] - The company reported a net cash used in financing activities of HKD (166,414) thousand for the period[14] - The company reported a loss of HKD 663,875 for the six months ended June 30, 2022, compared to a profit of HKD 41,938 in the same period of 2021[32][33] - The segment loss for property agency was HKD 384,600, while the financial services segment reported a profit of HKD 19,355[32] Cash Flow and Liquidity - The net cash used in operating activities for 2022 was HKD (125,746) thousand, compared to HKD 277,091 thousand in 2021[14] - The cash and cash equivalents at the end of the period were HKD 486,403 thousand, significantly down from HKD 2,973,056 thousand at the end of 2021[14] - The total cash and cash equivalents decreased by HKD 2,490,616 thousand from the beginning of the period[14] - As of June 30, 2022, the group maintained a cash and bank deposit balance of approximately HKD 487 million, down from HKD 1.721 billion as of December 31, 2021[77] - The current ratio as of June 30, 2022, was 2.16, compared to 2.32 as of December 31, 2021[77] - The total borrowings amounted to approximately HKD 381 million, down from HKD 516 million as of December 31, 2021, with a capital debt ratio of approximately 6.3%[77] Operational Changes and Strategy - The company is focusing on restructuring and improving operational efficiency to address the current financial challenges[2] - The company operates two reportable segments: property agency services and financial services, which require different business strategies[22] - The company has classified the assets and liabilities of the Poly Consulting Group as held for sale, with total assets amounting to HKD 2,784,011,000 and liabilities of HKD 1,834,244,000[53] - The company is in the process of a conditional agreement to sell its 43.9% stake in a subsidiary, which will result in the subsidiary becoming a wholly-owned subsidiary post-restructuring[49] - The group adjusted its cooperation model with Poly Development, taking over 43.9% of the equity in HeFu China and selling Poly Consulting Group, resulting in an impairment of goodwill of approximately HKD 206 million[73] Employee and Cost Management - Total employee costs for the six months ended June 30, 2022, were HKD 1,724,999, down from HKD 2,108,791 in the previous year, indicating a reduction of approximately 18.2%[37] - The group views employees as valuable assets, with approximately 18,600 full-time staff as of June 30, 2022[80] Market Conditions - The real estate market in mainland China faced significant challenges, with the top 100 property companies experiencing a sales decline of over 50% year-on-year in the first half of 2022[66] - The financial services business had a total transaction amount of approximately HKD 600 million, down from HKD 1.6 billion in the previous year, with revenue of approximately HKD 36 million compared to HKD 110 million in the prior year[74] Corporate Governance - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange rules during the six months ending June 30, 2022[100] - The company secretary is a practicing lawyer, ensuring compliance with applicable laws and regulations[101] - The company has adopted the standard code of conduct for securities transactions by directors as per the listing rules and confirmed compliance[102] Shareholder Information - As of June 30, 2022, major shareholders held the following stakes: Mr. Fu Wei Cong with 340,369,807 shares (50.49%), Fu's Family Limited with 174,184,799 shares (25.84%), and China-net Holding Ltd. with 130,762,340 shares (19.40%)[93] - No stock options were granted, canceled, exercised, or lapsed during the reporting period[90] - The company has not repurchased any shares since its listing and has not purchased or sold any shares of the company or its subsidiaries[99]

Financial Performance - The total revenue for the year 2021 was HKD 7,166,000,000, representing a 16% increase compared to the same period in 2020[21]. - The property agency business revenue increased from HKD 5,994,000,000 in 2020 to HKD 6,986,000,000 in 2021, marking a growth of 17%[23]. - The company reported a loss attributable to shareholders of HKD 545,000,000, primarily due to additional provisions for expected credit losses amounting to HKD 458,000,000[21]. - The company's revenue for the year ended December 31, 2021, was HKD 7,166,000,000, an increase of approximately 16% compared to HKD 6,193,000,000 in 2020[47]. - The company reported a loss attributable to shareholders of HKD 545,000,000 for 2021, compared to a profit of HKD 184,000,000 in 2020[47]. - The property agency business segment generated revenue of HKD 6,986,000,000, accounting for 97% of total revenue, while the financial services segment contributed approximately HKD 180,000,000, or 3% of total revenue[47]. - The financial services segment experienced a decline compared to the previous year due to tightening financing conditions in the real estate market[24]. - The total sales amount for new homes in 2021 was approximately HKD 608 billion, with a total of 377,000 transactions and a total sales area of about 33 million square meters[47]. Business Strategy and Market Position - The company has established partnerships with over 100 cities and aims to deepen customer expansion and service offerings in the domestic real estate service market[8]. - The integration of internet technology with traditional property agency services has been emphasized, with the development of the "AI Hopefluent" platform showing promising results[23]. - The company continues to focus on risk control and diversifying its product offerings in response to changing market demands[24]. - The company has maintained strong relationships with major developers, enhancing its position in the real estate service market[8]. - The company aims to solidify its business development and create greater value for local communities and shareholders[25]. - The company plans to integrate an "online + offline" business model to capture more market share in advantageous cities[25]. - The Greater Bay Area is currently experiencing a major development window, driven by policy incentives that boost urban development and real estate demand[25]. - The company aims to expand its business in key regions such as the Guangdong-Hong Kong-Macao Greater Bay Area and the Yangtze River Delta[53]. Financial Position and Liquidity - The group maintains a strong financial position with cash and bank deposits of approximately HKD 1,721,000,000 as of December 31, 2021, down from HKD 2,877,000,000 in the previous year[57]. - The current ratio is 2.32, a decrease from 2.65 as of December 31, 2020, indicating a slight decline in liquidity[57]. - The total borrowings amount to approximately HKD 516,000,000, which includes both secured and unsecured bank loans, compared to HKD 505,000,000 in the previous year[57]. - The capital debt ratio is approximately 7.4%, up from 6.8% as of December 31, 2020, reflecting an increase in leverage[57]. - The overall performance of the company was significantly impacted by the tightening of market conditions and the debt crisis affecting many real estate companies[46]. Governance and Management - The company does not have a CEO position; daily operations are overseen by executive directors and senior management[76]. - The board of directors has held 12 meetings and one annual general meeting during the fiscal year ending December 31, 2021, with full attendance from all directors[70]. - The audit committee, composed of three independent non-executive directors, reviewed the financial statements for the year ending December 31, 2021[88]. - The company’s governance policies and practices are regularly reviewed by the board to ensure compliance with legal and regulatory requirements[75]. - The company has established an internal control department since 2006 to ensure compliance with policies and procedures across its branches[108]. - The board is responsible for overseeing the company's risk management and internal control systems, which are reviewed annually[108]. - The company has adopted a diversity policy for its board members, effective from September 1, 2014, focusing on sustainable development and performance enhancement[100]. - The company has confirmed the independence of all its non-executive directors according to the stock exchange listing rules[176]. Employee and Stakeholder Relations - The group has approximately 19,300 full-time employees, emphasizing the importance of human resources as a valuable asset[60]. - The company emphasizes the importance of maintaining good relationships with employees, customers, and business partners for sustainable development[131]. - The company has established communication channels with shareholders, including annual and interim reports, announcements, and its website[125]. Environmental, Social, and Governance (ESG) - The environmental, social, and governance (ESG) report outlines the company's commitment to sustainable development and its performance in these areas[190]. - The group aims to reduce its environmental impact through measures such as water and electricity conservation and encouraging recycling[183]. - The group has set a greenhouse gas emission reduction target of approximately 5% for 2022, maintaining levels from 2021[194]. - The board of directors is responsible for overseeing the company's corporate governance and ESG management methods[193]. - The company has adopted various environmental and social policies to support sustainable development[191]. - The group has established a working group to identify and assess ESG risks and the effectiveness of internal controls[194]. Shareholder and Dividend Policy - The company did not recommend a final dividend for the year ended December 31, 2021[47]. - The company has a dividend policy approved in 2019, which does not set a predetermined payout ratio, allowing the board to decide based on various financial factors[103]. - The board will consider actual and expected financial performance, operational funding needs, and overall economic conditions when declaring dividends[106]. - The company emphasizes the importance of transparency in its dividend policy to facilitate informed investment decisions by shareholders[102]. - As of December 31, 2021, the company had distributable reserves of approximately HKD 388,000,000 available for dividend payments to shareholders[143].

Financial Performance - Revenue for the six months ended June 30, 2021, was HKD 3,931,313, an increase of 50.7% compared to HKD 2,608,328 for the same period in 2020[3]. - The net profit for the period was HKD 15,173, a significant decrease of 90.6% from HKD 160,555 in the previous year[4]. - Total comprehensive income for the period was HKD 63,603, compared to HKD 80,631 in the same period last year, reflecting a decline of 21.1%[4]. - Basic and diluted earnings per share were HKD 0.0487, down from HKD 0.1073 in the prior year, representing a decrease of 54.7%[4]. - The company declared a dividend of HKD 3,371, a decrease of 80% from HKD 16,854 in the previous year[4]. - The group reported a profit of 32,799 thousand HKD for the six months ended June 30, 2021, a decrease of 54.7% compared to 72,351 thousand HKD for the same period in 2020[48]. - Shareholders' profit for the same period was HKD 32,800,000, a decrease of about 55% from HKD 72,400,000 year-on-year[68]. Revenue Breakdown - The revenue from property agency services was HKD 3,821,157 thousand, up from HKD 2,520,806 thousand in the previous year, indicating a growth of about 51.6%[26][31]. - Financial services revenue increased to HKD 30,760 thousand from HKD 23,418 thousand, reflecting a growth of approximately 31.5%[26][27]. - The property agency business generated revenue of HKD 3,821,200,000, accounting for 97% of total revenue, with a year-on-year increase of approximately 52%[71]. - Financial services revenue was approximately HKD 110,100,000, up about 26% from HKD 87,500,000 in the previous year[72]. Assets and Liabilities - Non-current assets as of June 30, 2021, totaled HKD 1,074,255, a decrease from HKD 1,169,007 as of December 31, 2020[9]. - Current assets increased to HKD 6,604,502 from HKD 6,302,571 at the end of 2020, indicating a growth of 4.8%[9]. - Total equity attributable to owners of the company was HKD 3,524,906, up from HKD 3,479,216 at the end of 2020, reflecting an increase of 1.3%[9]. - Total borrowings were approximately HKD 386,000,000, a decrease from HKD 505,000,000 as of December 31, 2020, reflecting improved financial health[75]. - The capital-to-asset ratio was approximately 5.0%, down from 6.8% as of December 31, 2020, suggesting a reduction in leverage[75]. Cash Flow - The net cash generated from operating activities was HKD 277,091 thousand, while cash used in investing activities was HKD 632,651 thousand[17]. - The company reported a significant increase in cash and cash equivalents, reaching HKD 2,973,056 compared to HKD 2,877,029 at the end of 2020, an increase of 3.3%[9]. - The cash and cash equivalents at the end of the period were HKD 2,973,056 thousand, compared to HKD 2,513,622 thousand at the end of the previous period[17]. - The company reported a net cash increase of HKD 396,645 thousand in cash and cash equivalents during the period[17]. - As of June 30, 2021, the group's cash and bank deposits amounted to approximately HKD 2,973,100,000, an increase from HKD 2,877,000,000 as of December 31, 2020[75]. Employee and Operational Costs - Employee costs increased to 2,108,791 thousand HKD in the first half of 2021, up from 1,442,711 thousand HKD in the same period of 2020, reflecting a rise of 46.2%[45]. - The group has approximately 22,500 full-time employees, with a competitive compensation structure based on individual roles and performance[78]. Strategic Initiatives - The company aims to expand its market presence and invest in new technologies to drive future growth[2]. - The group plans to enhance digital marketing efforts and integrate technology into traditional real estate operations to improve efficiency and expand business scale[71]. - The financial services business aims to explore more business models and develop personalized products to enhance core competitiveness and investment returns[72]. - The group will maintain a prudent financial control system to improve overall operational efficiency in response to industry competition and external environment[74]. - The company plans to enhance its financial and asset management services to drive business growth and maintain its leading position in the market[75]. Corporate Governance - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange rules, except for deviations noted in sections A.2.1 and F.1.1[100]. - The board of directors is composed of experienced individuals, ensuring balanced power distribution despite the absence of a CEO position[100]. - The company secretary is a practicing lawyer, which aids in compliance with applicable laws and regulations[101]. - The establishment of an audit committee consisting of three independent non-executive directors has been completed to oversee financial reporting and internal controls[75]. Market Position and Expansion - The group has expanded its property agency business to over 200 cities, with more than 1,800 projects and approximately 330 second-hand branches[71]. - The group aims to adapt its strategies in response to market changes, particularly in key cities with strong business potential[75]. Shareholder Information - The major shareholders of the company include Fu's Family Limited with 50.49% ownership, China-net Holding Ltd. with 19.40%, and Fu Erli with 11.62%[94]. - Fu's Family Limited holds 174,184,799 shares, while China-net Holding Ltd. has 130,762,340 shares registered under its name[95]. - The company has not repurchased any of its shares since its listing, nor have any subsidiaries bought or sold shares of the company[99]. - The company will suspend share transfer registration from September 23 to September 24, 2021, for mid-term dividend eligibility[98]. - All disclosed shareholdings are classified as long positions[96].