Sales Performance and Market Position - The company achieved significant sales success in new property projects, winning multiple sales championships, including the "Heng Fund Award" for being the top agent for new units sold by Heng Kee in 2022[9]. - The company has successfully increased its market share in the first-hand residential market and secured exclusive agency rights for several new developments despite a challenging operating environment[44]. - The company has maintained strong relationships with developers, evidenced by its recognition and awards for outstanding sales performance in new developments[10]. Awards and Recognition - The company was recognized as one of the top ten in the "Corporate Innovation Index" by the Chinese University of Hong Kong, marking its highest ranking among real estate agencies[13]. - The company won six awards at the "DigiZ Awards 2022," including three gold, two silver, and one bronze, highlighting its contributions to introducing new technology in the industry[14]. - The group won a total of eight awards at the Hong Kong Investor Relations Awards, including "Best Investor Relations (Chairman/CEO)" and "Best Investor Relations Company," marking a record number of awards for the group[22]. Technology and Innovation - The company launched a "VR Viewing" service, utilizing digital twin technology to provide clients with a virtual 3D property viewing experience, enhancing customer engagement[15]. - The group continues to enhance its online platform by integrating VR and AI technologies to improve customer experience[16]. - The establishment of a "Metaverse Exhibition Hall" to showcase community microfilm competition entries represents the group's innovative use of technology[18]. Financial Performance - The group reported a revenue of approximately HKD 3.115 billion for the year ended December 31, 2022, a decrease of 48% compared to the previous year[33]. - The loss attributable to equity holders for the year ended December 31, 2022, was approximately HKD 534 million, compared to a profit of HKD 100 million in 2021[33]. Market Trends and Economic Outlook - Hong Kong's residential property transaction volume dropped approximately 40%, reaching a 27-year low since 1996, due to multiple adverse factors including COVID-19 restrictions and rising interest rates[35]. - The average property price in Hong Kong fell by 17% from August 2021 to December 2022, marking the fifth and longest adjustment period in recent years[34]. - The outlook for Hong Kong's economy is optimistic, with expectations of a resurgence in business activities as mainland China continues to recover[38]. Corporate Governance - The company has maintained compliance with the corporate governance code as per the Hong Kong Stock Exchange's listing rules throughout the year ending December 31, 2022[68]. - The board consists of seven directors, including four executive directors and three independent non-executive directors[72]. - The company emphasizes the importance of board independence for good corporate governance and has established mechanisms for independent advice[70]. Employee Development and Training - The company has established a training center aimed at professionalizing its workforce and setting industry standards[7]. - The group has actively engaged in talent development through various training programs in collaboration with local universities[27]. - Employee training programs were developed, including specialized training for frontline and backend staff, to enhance operational skills and knowledge[171]. Social Responsibility and Community Engagement - The company has been awarded the "Caring Company" logo for 19 consecutive years, recognizing its commitment to social responsibility through various charitable activities and volunteer work[126]. - The company actively participated in pandemic relief efforts, including donations to healthcare institutions and providing support for frontline medical staff[127]. - The company organized various community engagement activities, encouraging employees to contribute to society through food donation drives and creative workshops for children[133]. Environmental Sustainability - The company has implemented a green procurement policy to prioritize environmentally friendly products and services[192]. - The company is committed to reducing its carbon footprint and has set energy efficiency targets, expecting to reduce energy consumption by 20%-30% through the installation of energy-saving equipment[183]. - The company has established a governance framework for sustainable development, integrating environmental, social, and governance (ESG) considerations into its operations[149]. Compliance and Risk Management - The company adheres to applicable laws and regulations, including the Trade Descriptions Ordinance and the Estate Agents Ordinance, to provide high-quality services to its customers[163]. - The audit committee's main responsibilities include reviewing financial reports and ensuring effective risk management and internal controls[88]. - The company has established arrangements for stakeholders to raise concerns regarding financial reporting and internal controls[87].

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。 截至二零二二年十二月三十一日止年度 全年業績公告 美聯集團有限公司（「本公司」）董事會（「董事會」）宣佈本公司及其附屬公司（統稱「本集團」 或「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全年業績，連同比較數字如下： 綜合收益表 截至二零二二年十二月三十一日止年度 附註 二零二二年 二零二一年 港幣千元 港幣千元 收益 3(a) 3,115,143 6,001,432 其他收入，淨額 4 13,598 12,227 員工成本 (1,872,619) (2,897,781) 回贈 (759,466) (1,803,924) 廣告及宣傳開支 (117,043) (115,942) 辦公室及商舖物業經營租賃費用 (44,310) (54,722) 使用權資產攤銷 (597,709) (575,928) 物業及設備折舊 (53,467) (52,687) 金融資產淨減值回撥／（減值虧損） 5,611 ...

Financial Performance - The group recorded revenue of approximately HKD 1.715 billion for the six months ended June 30, 2022, a decrease of 50% compared to HKD 3.446 billion for the same period in 2021[7]. - The loss attributable to equity holders was approximately HKD 232 million, compared to a profit of HKD 176 million for the same period in 2021[7]. - Revenue for the six months ended June 30, 2022, was HKD 1,715,163, a decrease of 50.2% compared to HKD 3,446,267 for the same period in 2021[55]. - The company reported a loss attributable to equity holders of HKD 231,980 for the six months ended June 30, 2022, compared to a profit of HKD 176,420 in the same period of 2021[58]. - Operating loss for the period was HKD 246,827, compared to an operating profit of HKD 222,471 in the previous year[55]. - The basic and diluted loss per share for the period was HKD 32.35, compared to earnings of HKD 24.57 in the same period last year[55]. - The company reported a net loss of HKD 1,916,000 from fair value changes in investment properties for the six months ended June 30, 2022[95]. - The segment performance showed a loss of HKD 233,976,000 for the six months ended June 30, 2022, compared to a profit of HKD 255,194,000 for the same period in 2021[88]. Market Conditions - The number of residential property transactions in Hong Kong decreased by 37.8% in the first half of 2022 compared to the same period in 2021[9]. - The number of second-hand residential property transactions in Q1 2022 was 8,333, a decrease of 42.3% year-on-year, while new property sales dropped by 53.3% with only 1,723 units sold[9]. - Hong Kong property prices fell by 5% from August 2021 to July 2022, indicating a consolidation phase in the market[11]. - The ongoing geopolitical tensions, persistent inflation, and tightening global liquidity may negatively impact both global and Hong Kong economies[12]. - The group anticipates that the local economic outlook remains challenging in the short term due to various macroeconomic uncertainties[12]. - The group expects that the economic breakthrough in Hong Kong will remain difficult until at least November 2022[12]. Company Strategy and Operations - The group maintained its market share despite significant challenges from the fifth wave of the pandemic, which led to a substantial decline in transactions in the first half of 2022[17]. - The group has become the first real estate agency in Greater China to partner with Matterport, Inc., introducing "Digital Twin" technology, resulting in a nearly 1.7 times increase in VR video production year-on-year[20]. - The official website of the group recorded nearly 100 million visits in the first half of 2022, reflecting an increase in online platform traffic and market share[20]. - The group is actively enhancing its online platform through big data analysis to provide tailored property information to clients, aiming to improve online services and attract more visitors[22]. - The group anticipates that the development pace of infrastructure projects will accelerate, particularly those related to the Northern Metropolis Development Strategy, with ongoing sales progress in new hot areas like Kai Tak and Northern New Territories[22]. Financial Position - As of June 30, 2022, the group's cash and bank deposits amounted to HKD 1,734,080,000, an increase from HKD 1,505,527,000 as of December 31, 2021[26]. - The group's interest-bearing bank borrowings as of June 30, 2022, were HKD 1,169,240,000, up from HKD 687,000,000 as of December 31, 2021[26]. - The total debt-to-equity ratio increased to 1,122.1% as of June 30, 2022, compared to 57.9% as of December 31, 2021, primarily due to increased bank borrowings for short-term financing needs[26]. - The current ratio was 1.0 as of June 30, 2022, down from 1.1 as of December 31, 2021, indicating a slight decrease in financial resource adequacy[26]. - The return on equity was -24.22% for the six months ended June 30, 2022, compared to 13.94% for the same period in 2021[26]. - The company’s total liabilities were HKD 4,645,706 as of June 30, 2022, compared to HKD 4,844,165 at the end of 2021[64]. Employee and Corporate Governance - The number of full-time employees as of June 30, 2022, was 6,788, a slight decrease from 6,823 as of December 31, 2021[33]. - The company has complied with all provisions of the corporate governance code during the interim period[53]. - All directors confirmed adherence to the company's securities trading code during the interim period[54]. Shareholder Information - Major shareholders include Ms. Tam Mei Lee with 270,112,974 shares (37.67%) and Southern Field Trading Limited with 265,525,824 shares (37.03%) [40]. - Sun Life Financial, Inc. holds 93,766,100 shares, representing 13.08% of the company [40]. - Massachusetts Financial Services Company owns 89,710,100 shares, accounting for 12.51% of the total shares [40]. - The company did not declare an interim dividend for the period ending June 30, 2021 [51]. - The company did not declare an interim dividend for the six months ended June 30, 2022, consistent with the previous year[105].

Sales Performance and Market Trends - The group achieved significant sales performance in new property projects, securing exclusive agency for developments such as Emerald Bay and VAU Residence[13] - The group's revenue reached a historical high of HKD 6 billion in 2021, driven by a rapid recovery in the local property market and an increase in market share[28] - The overall residential property market in Hong Kong saw a 24% increase in the number of sales contracts compared to 2020, with the "Mei Lun Property Price Index" rising approximately 5% year-on-year to 171.6[28] - In the first half of 2021, the local residential market experienced a significant rebound, but the second half saw a decline in transaction activity, with a 15% and 14% decrease in registration volume and value, respectively[28] - The group anticipates that the transaction activity in the first quarter of 2022 will remain at low levels due to cautious buyer sentiment and sellers' reluctance to arrange viewings amid the pandemic[30] - In the first two months of 2022, only 457 new units were launched, representing a decline of approximately 83.3% compared to the same period in 2021[30] - The group maintains a cautiously optimistic outlook for the long-term development of the Hong Kong real estate market, despite expecting low transaction activity in the first half of 2022[31] - The group believes that the recent adjustments in the mortgage insurance scheme will significantly benefit the property market, especially the secondary market[31] - The group expects continued growth in property demand in areas with excellent infrastructure development, particularly in the New Territories and Kowloon[34] Digital Transformation and Technology - The group became the first property agency in China to introduce "digital twin" technology through a strategic partnership with Matterport, Inc.[16] - The company launched a "VR viewing" service, allowing clients to experience properties virtually, enhancing the "zero-contact viewing" experience[16] - The company optimized its property management system "M One," achieving over 1 million logins per month, enhancing frontline support[23] - The group received the "01 FinTech Excellence Award" for its leading user-rated property search app, marking its digital technology leadership in the industry[19] - The company has enhanced digital services during the COVID-19 pandemic, introducing "KOL property tours" and "AI VR viewings" to minimize health risks for customers[146] - A strategic partnership was established with Matterport, Inc. to utilize new "digital twin" technology, enhancing customer online experiences in virtual property spaces[146] Corporate Governance and Board Structure - The board of directors consists of seven members, including four executive directors and three independent non-executive directors[62] - The company has been adhering to the corporate governance code as per the Hong Kong Stock Exchange's listing rules during the fiscal year ending December 31, 2021[58] - The chairman and managing directors' roles are distinctly separated to enhance governance and oversight[65] - The company is committed to maintaining high standards of corporate governance to enhance shareholder value and protect shareholder interests[57] - The independent non-executive directors bring extensive experience in accounting, securities, and corporate finance, contributing to the board's effectiveness[54] - The company has arranged appropriate liability insurance for its directors to cover responsibilities arising from corporate activities[60] - The board is responsible for formulating business strategies and overseeing the company's affairs, ensuring clear guidance for management[59] - The company emphasizes integrity, transparency, accountability, and independence in its corporate governance practices[57] Employee Engagement and Development - The group held an online awards ceremony to recognize frontline employees' achievements during the pandemic, showcasing the company's resilience and commitment to staff recognition[12] - The company has received multiple awards for its training programs, including the "Outstanding Employer Award" and "Super MD" recognition, highlighting its commitment to talent development[112] - The company has implemented a digital learning management system to provide flexible training opportunities for employees[162] - The company emphasizes a people-centric approach in its human resources strategy, promoting a respectful and productive work environment[151] - The company has established various platforms for open communication between management and employees, including monthly meetings and internal complaint channels[152] - The company provides competitive and rewarding compensation packages to its employees[151] Community Engagement and Social Responsibility - The group donated 5,000 rapid test kits to support the community during the pandemic, demonstrating its commitment to social responsibility[119] - The group has been awarded the "Caring Company" label for 18 consecutive years, recognizing its efforts in community service and employee care[113] - The group actively engages in various community activities, including hosting free seminars on real estate trends and financial education[109] - The group has supported the "School Activation" program for eight consecutive years, providing comprehensive support to local schools and helping students understand the real estate industry[118] - The company has sponsored over 200 kilometers of charity hiking activities for the "善寧會" to promote care and education on life and death issues[122] Environmental Initiatives and Sustainability - The group has been recognized for its environmental efforts, with 272 branches awarded as "Energy Saving" stores, the highest among real estate agencies[110] - The company has received multiple environmental awards, including the "Waste Reduction Certificate (Excellence Level)" and "Energy Saving Certificate (Good Level)" from the Hong Kong Green Organization Certification[121] - The company has established a green procurement policy to promote environmentally friendly purchasing practices[184] - The company is actively seeking carbon reduction opportunities and has introduced emission control measures, including promoting virtual meetings to reduce travel-related emissions[170] - The company has adopted clear guidelines to reduce paper usage and promote recycling, receiving a Waste Reduction Certificate (Excellence Level) for its initiatives[174] Financial Performance - The group reported a consolidated profit attributable to equity holders of HKD 100 million for the year ended December 31, 2021, a decrease of 24% compared to the previous year[28] - The group's mainland business faced challenges, with accounts receivable impairment rising, and accounts receivable at the end of 2021 accounting for approximately 4% of the total, down from 8% at the end of 2020[38] Risk Management and Compliance - The company has established a risk management and internal control system to manage risks effectively, ensuring reasonable assurance against material misstatements[93] - The internal audit department reports directly to the audit committee, ensuring independence from daily operations[93] - The company has established internal policies to prevent bribery and corruption, ensuring compliance with applicable laws[135] - The company strictly prohibits anti-competitive behavior among employees and supports fair competition practices[136]

Financial Performance - The group recorded revenue of approximately HKD 3.446 billion for the six months ended June 30, 2021, compared to HKD 2.468 billion in the same period of 2020, marking a significant increase[8]. - Profit attributable to equity holders was approximately HKD 176 million, a turnaround from a loss of HKD 24 million in the same period of 2020[8]. - Revenue for the six months ended June 30, 2021, was HKD 3,446,267, an increase of 39.5% compared to HKD 2,468,046 for the same period in 2020[62]. - Operating profit for the period was HKD 222,471, a significant recovery from a loss of HKD 6,856 in the previous year[62]. - The company reported a net profit of HKD 176,420,000 for the six months ended June 30, 2021, compared to a net loss of HKD 24,354,000 in the same period of 2020, marking a significant turnaround[114]. - Basic earnings per share for the six months ended June 30, 2021, was HKD 24.57, compared to a loss of HKD 3.39 per share in the same period of 2020[114]. - The company reported a comprehensive income of HKD 175,675,000 for the six months ended June 30, 2021, compared to a comprehensive loss of HKD 24,184,000 for the same period in 2020[72]. Market Conditions - The group's market share in Hong Kong increased, successfully capitalizing on the rebound in the residential property market[8]. - The number of new residential projects launched in the first and second quarters of 2021 increased by 21.5% and 10.7% respectively compared to the same period in 2020[9]. - The registration volume and amount for new residential properties in the first half of 2021 rose significantly by 29.3% and 64.1% respectively compared to the same period in 2020[9]. - The Hong Kong property price index increased by nearly 6.2% in the first half of 2021, driven by a long-term low interest rate environment and ongoing vaccine rollout[10]. - The group maintains an optimistic outlook for the Hong Kong residential property market, expecting continued increases in sales volume and prices due to ongoing low interest rates and a shortage of housing supply[13]. - The government’s recent introduction of a consumption voucher scheme is anticipated to inject greater growth momentum into the local economy[13]. - Despite concerns over stock market volatility, the group believes that the weak stock market may not be entirely detrimental to the property market, as investment interest may shift from stocks to real estate[13]. Financial Position - As of June 30, 2021, the group's cash and bank deposits amounted to HKD 1,925,639,000, a significant increase from HKD 940,608,000 on December 31, 2020[23]. - The group's interest-bearing bank borrowings as of June 30, 2021, were HKD 1,180,300,000, up from HKD 228,000,000 at the end of 2020[23]. - The total debt-to-equity ratio increased to 93.3% as of June 30, 2021, compared to 20.9% on December 31, 2020, primarily due to increased bank borrowings for short-term financing needs[23]. - Total assets as of June 30, 2021, amounted to HKD 6,962,681, an increase from HKD 5,028,538 at the end of 2020[68]. - Total liabilities as of June 30, 2021, amounted to HKD 5,697,500,000, up from HKD 3,939,133,000 as of December 31, 2020, reflecting a rise of approximately 44.7%[71]. - Total equity increased to HKD 1,265,181,000 as of June 30, 2021, up from HKD 1,089,405,000 as of December 31, 2020, representing a growth of approximately 16.1%[71]. Employee and Management - The group employed 7,251 full-time employees as of June 30, 2021, up from 7,176 on December 31, 2020, with 6,105 in sales, 644 in office support, and 502 in frontline support roles[31]. - The company provides various employee benefits, including education allowances, medical, and retirement benefits, alongside performance-based bonuses and stock options[31]. - The company regularly offers internal and external training and development programs for employee growth[31]. - Total compensation for key management personnel was HKD 25,024,000 for the six months ended June 30, 2021, compared to HKD 12,984,000 in the prior year[153]. - Share-based benefits for key management personnel amounted to HKD 101,000 for the six months ended June 30, 2021, down from HKD 1,083,000 in the previous year[153]. Strategic Initiatives - The group plans to enhance its business in areas with significant development potential, particularly in Kowloon and the New Territories, in line with Hong Kong's urban planning[19]. - The group expects the luxury property market to continue outperforming the overall market and will implement diversified strategies to strengthen its position in this segment[19]. - The company plans to expand its market presence in Macau and enhance its service offerings in property leasing and immigration consultancy[76]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its service portfolio[76]. - The company has invested in new technology to improve operational efficiency and customer service, aiming for a competitive edge in the market[76]. Investment Properties - The fair value gain from investment properties was HKD 509,000 for the six months ended June 30, 2021, compared to a loss of HKD 2,719,000 in the same period of 2020[102]. - The total value of investment properties was assessed at HKD 44,570,000 as of June 30, 2021, compared to HKD 43,820,000 as of December 31, 2020, indicating a slight increase[118]. - The fair value of investment properties in Hong Kong is estimated at HKD 44,570,000, with a capitalization rate ranging from 3.20% to 4.00%[120]. - The fair value of investment properties in China is estimated at HKD 30,000,000, with a capitalization rate ranging from 5.80% to 6.00%[120].

Digital Innovation and Technology - The online platform usage reached nearly 20 million views, with the instant bank valuation service utilized approximately 420,000 times, and over 520 new online listings in a single month, all setting new records[13] - The company continues to enhance its digital platform to improve customer property purchasing experiences, reflecting significant innovation and effectiveness[13] - The group is focused on innovation in technology and services to maintain a competitive edge in the real estate market[11] - The group invested in technology to enhance online property search experiences, including the introduction of virtual reality (VR) and augmented reality (AR) property videos[40] - The group has enhanced its digital platforms, achieving over 150 million views across its online channels in 2020, with a 50% increase in app downloads[46] - The company utilizes innovative technology and digital applications to enhance customer service, including real-time online chat and mobile applications[144] - The company has launched digital services such as "Self-Photography of Properties" and "AI • VR Viewing" to improve customer experience while minimizing health risks during the pandemic[144] Market Performance and Growth - The company reported a strong performance in its financial services segment, which includes independent financial planning and mortgage referral services[11] - The group recorded a profit attributable to equity holders of approximately HKD 132 million for the year ended December 31, 2020, compared to a loss of HKD 69 million in 2019[33] - The group's operating profit from the "Midland Realty" brand increased due to a rise in market share in Hong Kong, particularly in the secondary residential market, and improved operational efficiency[33] - The Hong Kong residential property market remained stable in 2020, with the Midland Property Price Index rising approximately 4% by July 2020[34] - The number of registered transactions for secondary residential properties increased by 15.2% in 2020 compared to the same period in 2019, outperforming the primary market[35] - The group anticipates a cautiously optimistic outlook for the property market in 2021, with a significant increase of over 82% in secondary residential property transactions in the first two months compared to the same period in 2020[41] Corporate Governance and Compliance - The company has adhered to the corporate governance code as per the Hong Kong Stock Exchange's listing rules throughout the year ending December 31, 2020[66] - The company emphasizes integrity, transparency, accountability, and independence in its corporate governance practices to enhance shareholder value[66] - Independent non-executive directors are required to confirm their independence annually, and all have been deemed independent[74] - The company ensures compliance with all applicable rules and regulations in its operations[66] - The company has adopted a nomination policy for the nomination committee to consider candidates for the board, focusing on qualifications, integrity, and diversity[89] - The company has established a governance framework to integrate environmental, social, and governance (ESG) considerations into its daily operations[133] Community Engagement and Corporate Social Responsibility - The company has collaborated with local financial institutions to conduct free seminars on real estate and financial information, fulfilling its corporate social responsibility[114] - Midland Group won four awards in the "Community Service Proposal Competition" organized by the Estate Agents Authority, including the gold award in the "Environmental Awareness" category[115] - The company has established a charity fund that donates 0.1% of all second-hand transaction commissions to support local community development[182] - The company has actively participated in youth development programs, providing opportunities for underprivileged students to pursue further education[185] - The company has received the "Caring Company" label for 17 consecutive years, recognizing its commitment to corporate social responsibility and community engagement[118] Environmental Management and Sustainability - The company has implemented a "Green Procurement Policy" to prioritize environmentally friendly products and services, including FSC-certified paper[181] - The company has received various environmental awards, including the "Waste Reduction Certificate (Excellence Level)" and the "Energy Saving Certificate (Basic Level)" for its commitment to sustainability[125] - The company has implemented measures to improve indoor air quality, including installing dust filters[164] - The company has established an internal and external risk management system, with annual reviews reported to the audit and risk committees, ensuring effective internal controls as of December 31, 2020[100] Employee Development and Training - The group aims to cultivate industry professionals through its training center, Midland University, to set industry standards and nurture elite talent[11] - Employee training programs are tailored to different roles, including frontline and back-office staff, focusing on essential skills and knowledge for daily operations[159] - The company has launched a new learning management system to facilitate flexible training for employees, supporting digital development and enhancing learning engagement[160] - The company provides external training and professional certification subsidies to keep employees updated with market developments[162] Financial Management and Strategy - The group plans to maintain a stable financial position and hold sufficient cash to seize potential expansion and investment opportunities[198] - The group has adopted a dividend policy aimed at providing a relatively stable payout ratio based on profitability and cash flow conditions[197] - The board does not recommend a final dividend for the year ended December 31, 2020, consistent with the previous year[196] Risk Management - The company’s risk management system aims to manage risks rather than eliminate them, providing reasonable assurance against significant misstatements or losses[99] - The board has overall responsibility for establishing effective risk management and internal control systems[99] - The risk committee was established on January 1, 2016, and held two meetings in 2020 to review the risk management system and framework[90]

Financial Performance - The group recorded revenue of approximately HKD 2.468 billion for the six months ended June 30, 2020, a decrease of 14.8% compared to the same period in 2019[9]. - The loss attributable to equity holders was approximately HKD 240 million, compared to a profit of HKD 94 million for the same period in 2019[9]. - The significant decline in performance was primarily due to the unprecedented impact of the COVID-19 pandemic and related defensive measures, leading to a substantial drop in transaction value and volume in the Hong Kong residential property market[9]. - Revenue for the six months ended June 30, 2020, was HKD 2,468,046 thousand, a decrease of 14.8% compared to HKD 2,896,633 thousand in 2019[69]. - The net loss attributable to equity holders for the period was HKD (24,354) thousand, compared to a profit of HKD 93,597 thousand in the same period last year[70]. - Operating loss for the period was HKD (6,856) thousand, a significant decline from an operating profit of HKD 119,207 thousand in 2019[69]. - The basic and diluted loss per share for the period was HKD (3.39), compared to earnings per share of HKD 13.03 in 2019[69]. - The segment performance showed a loss of HKD 33,914 for the six months ended June 30, 2020, compared to a profit of HKD 150,752 in the same period of 2019[102]. Market Conditions - The registration volume and value of new residential properties in Hong Kong decreased by 48.9% and 49.2%, respectively, compared to the same period in 2019[10]. - The second quarter of 2020 saw a noticeable improvement in market conditions, with local residential property prices rising approximately 4% from the end of April to July[13]. - The outlook for the second half of 2020 remains uncertain due to ongoing global COVID-19 pandemic and the third wave of infections in Hong Kong, which may further impact economic activities[14]. - The GDP of mainland China rebounded to a year-on-year growth of 3.2% in the second quarter of 2020, indicating a gradual recovery that may benefit the Hong Kong market[15]. - The company expects that the ongoing tensions in US-China relations will add uncertainty to the local economy and property market, despite limited direct impact on trade[14]. - Hong Kong property prices only declined by less than 10% during the adjustment period from June last year to April this year, demonstrating market resilience[17]. Operational Metrics - The average monthly online inquiries exceeded 20,000 in the first half of 2020, representing an 85% increase compared to the second half of 2019[21]. - The conversion rate of inquiries received through real-time online chat services increased by 31% in the first half of 2020 compared to the previous period[21]. - The group employed 7,121 full-time employees as of June 30, 2020, up from 6,726 employees as of December 31, 2019, reflecting a growth of 5.9%[35]. - The company has provided various employee benefits, including education allowances, medical, and retirement benefits, to enhance employee development[35]. - The company is committed to regular internal and external training and development programs for its employees[35]. Financial Position - The group's cash and bank deposits amounted to HKD 1,471,491,000 as of June 30, 2020, up from HKD 1,151,688,000 at the end of 2019[28]. - The group's interest-bearing bank borrowings increased to HKD 924,700,000 as of June 30, 2020, compared to HKD 489,000,000 at the end of 2019[28]. - The debt-to-equity ratio rose to 71.1% as of June 30, 2020, up from 36.9% at the end of 2019, primarily due to increased bank borrowings[28]. - The group maintained a current ratio of 1.1 as of June 30, 2020, consistent with the ratio at the end of 2019[28]. - The group plans to continue investing in digital technology to enhance competitiveness in the traditional real estate market[24]. - The group has received unutilized borrowing facilities amounting to HKD 1,745,245,000 as of June 30, 2020, down from HKD 2,201,556,000 at the end of 2019[29]. - The group actively engaged in cost control measures and negotiations for rent reductions with landlords, receiving positive responses[23]. Shareholder Information - The total number of shares held by Mr. Huang Jianye is 256,414,974, representing approximately 35.71% of the company's issued voting shares[38]. - Major shareholders include Ms. Dai Meili with 256,414,974 shares (35.71%) and Southern Field Trading Limited with 227,337,824 shares (31.66%) as of June 30, 2020[45]. - The total number of shares held by major shareholders and other individuals, excluding directors, is significant, with Sun Life Financial, Inc. holding 93,766,100 shares (13.06%) as of June 30, 2020[45]. - The company has not disclosed any arrangements for directors to purchase shares or securities during the interim period[41]. Corporate Governance - The company’s audit committee has reviewed and discussed the unaudited condensed consolidated interim financial information for the period[64]. - The company has complied with all code provisions of the Corporate Governance Code during the interim period[65]. - The company has adopted its own code of conduct for securities transactions by directors, which is not less stringent than the standard code[66]. Dividends and Securities - The company has not declared an interim dividend for the period ending June 30, 2019, consistent with the previous period[63]. - The company has not purchased, sold, or redeemed any of its listed securities during the interim period[62]. - The company did not declare an interim dividend for the six months ended June 30, 2020, consistent with the previous year[116]. Investment Properties - The company incurred a fair value loss on investment properties of HKD 2,719 for the six months ended June 30, 2020, compared to a loss of HKD 131 in the same period of 2019[109]. - The net value of investment properties as of June 30, 2020, was HKD 59,147,000, down from HKD 61,353,000 as of December 31, 2019[121]. - The estimated fair value of investment properties in Hong Kong was HKD 46,180,000, with a capitalization rate ranging from 3.20% to 4.10%[123]. Cash Flow and Financing - The net cash generated from operating activities for the six months ended June 30, 2020, was HKD 183,901,000, a decrease of 48.2% compared to HKD 355,012,000 in 2019[79]. - The company reported a net increase in cash and cash equivalents of HKD 321,406,000 for the six months ended June 30, 2020, compared to HKD 249,669,000 in 2019, representing a 28.7% increase[79]. - The financing activities net cash inflow for the six months ended June 30, 2020, was HKD 132,760,000, compared to a net cash outflow of HKD 90,646,000 in 2019[79]. - The company incurred rental payments of HKD 302,940,000 for the principal portion, a decrease from HKD 320,046,000 in the previous year[79]. Revenue Breakdown - The revenue from agency fees was HKD 2,458,553,000, down 14.8% from HKD 2,887,793,000 in 2019[92]. - The revenue from immigration consulting services decreased significantly to HKD 1,016,000 from HKD 4,094,000 in the previous year, reflecting a decline of 75.2%[92]. - Total revenue from rental income for the six months ended June 30, 2020, was HKD 84,149,000, while direct operating expenses related to investment properties amounted to HKD 55,470,000[111].

Digital Transformation and Customer Engagement - The new version of the "Midland Property" mobile app saw an average daily download increase of 400% compared to the previous version in the first quarter[9] - The "Instant Property Valuation" service launched on the official website and mobile app recorded over 450,000 valuation inquiries within four months of its introduction[9] - The official website's page views surged nearly 60% from the outbreak of COVID-19 until the end of March[9] - The company is focused on enhancing digital marketing strategies and utilizing big data analytics to improve customer engagement[9] - The introduction of the "360-degree Magic Ball" for property photography reduced the time required for property listings[9] - The group launched the industry-first "Midland Confidence Index" to analyze market trends based on data from its online property platform[22] - The group introduced the "Wealth Channel" with nine channels, achieving nearly 1 million views within three months of launch[14] - The group continues to optimize branch designs, enhancing customer experience with innovative elements and technology[12] - The company has launched two new property price indices to increase awareness of the Hong Kong market in the international real estate sector[33] - The company’s app download rates have remained high since the outbreak of the pandemic, indicating strong user engagement[33] - The company is committed to improving customer service and satisfaction, which is part of its product and service responsibility[140] - The company has set up a dedicated customer relationship team to handle feedback and complaints, ensuring timely resolution and documentation of actions taken[145] - The company utilizes innovative technology and digital applications to improve customer experience through real-time online communication and mobile apps[38] Financial Performance and Market Trends - The group recorded a revenue of approximately HKD 4.884 billion for the year ended December 31, 2019, a decrease of 2.5% compared to the same period in 2018[24] - The group reported a loss attributable to equity holders of HKD 69 million, compared to a profit of HKD 58 million in 2018[24] - In the first half of 2019, the local residential property market saw a registration volume and value increase of 47.8% and 34.9% respectively compared to the second half of 2018[25] - The local residential property prices increased by 11.2% from January to May 2019, reaching a historical high[25] - In the second half of 2019, the overall transaction value of residential properties in Hong Kong dropped significantly by 28.9% compared to the first half[26] - The GDP of Hong Kong fell by 1.2% year-on-year in 2019, marking the first annual decline in a decade[26] - In January 2020, the sales volume of new residential properties was 1,168 units, an increase of 132% compared to December 2019[31] - Despite a 70% month-on-month decline in new residential transactions in February 2020, the market showed signs of recovery with new projects launched in March[31] - The group plans to adjust its sales strategy to focus on the sale of residential property tail and second-hand properties due to anticipated implementation of vacancy tax measures and a short-term supply shortage in the primary residential market[34] - Non-property agency businesses, including mortgage referrals and immigration consulting, have contributed positively to the group's profits during the period[34] - The number of local real estate agency shops has fallen below 7,000 for the first time since mid-2018, indicating a potential reduction in industry competition, which could present future business development opportunities for the group[34] - The overall economic outlook for Hong Kong is expected to gradually improve post-pandemic, with a return to pre-event sales activity levels anticipated[30] Corporate Governance and Compliance - The company is committed to corporate governance and maintaining close ties with shareholders[10] - The board of directors consists of eight members, including four executive directors, one non-executive director, and three independent non-executive directors[53] - The company has maintained compliance with the corporate governance code as per the Hong Kong Stock Exchange's listing rules throughout the year ending December 31, 2019[53] - The independent non-executive directors have designated terms of one and a half years, one year, and one year respectively, with re-election occurring at least every three years[58] - The company held five board meetings during the year to discuss and approve significant matters, including interim and annual performance[57] - The chairman and managing directors' roles are distinctly separated to ensure effective governance and oversight of the company's strategic direction[56] - The company is committed to maintaining high standards of corporate governance to enhance shareholder value and protect shareholder interests[53] - The board has received annual written confirmations regarding the independence of all independent non-executive directors, affirming their status as independent individuals[58] - The company has established clear guidelines for the delegation of authority to management while ensuring that the board retains overall responsibility for the company's management[53] - The board is responsible for approving the company's business strategies, leading and supervising the company's affairs, and considering dividend policies[53] - The company has arranged appropriate liability insurance for its directors to cover responsibilities arising from corporate activities[53] - The company has established a nomination committee to evaluate candidates for board positions based on experience, skills, and time commitment[60] - The board has a policy that one-third of directors must retire at the annual general meeting, with re-election eligibility every three years[60] - The company encourages continuous professional development for all directors, providing comprehensive onboarding materials and training sessions[61] - The audit committee held two meetings during the year to review interim and annual reports, ensuring the independence and effectiveness of external auditors[67] - The remuneration committee reviewed and recommended compensation for directors and senior management, with specific salary ranges disclosed for executive directors[70] - The company has a whistleblowing policy in place for stakeholders to report concerns regarding financial reporting and internal controls[68] - The audit committee is responsible for reviewing the effectiveness of the internal control and risk management systems[68] - The company provides resources for its committees to fulfill their duties and seek independent professional advice when necessary[64] - The board has established various committees, including the executive committee, audit committee, remuneration committee, nomination committee, and risk committee, to oversee different aspects of the group's affairs[63] - The company held two meetings of the Risk Committee in 2019, reviewing the risk management system and framework, and discussing significant risks identified that could impact the group[74] - The total fees paid to the independent auditor for the year ended December 31, 2019, amounted to HKD 3,473,000, a decrease from HKD 3,943,000 in 2018[81] - The Nomination Committee evaluated the independence of independent non-executive directors and reviewed the board's structure and composition during the year[73] - The company adopted a board diversity policy in August 2013, recognizing the benefits of a diverse board as essential for maintaining competitive advantage[73] - The board of directors confirmed compliance with the standards set forth in the company's code of conduct for securities trading throughout the year[77] - The company’s independent auditor is responsible for the consolidated financial statements for the year ended December 31, 2019, ensuring they reflect the group's financial position accurately[79] - The company’s board has authorized the Executive Committee to continuously review corporate governance policies and practices[80] - The Nomination Committee is responsible for identifying suitable candidates for board positions based on various criteria, including qualifications and diversity[73] - The company’s board composition remained unchanged during the year, with no new appointments or resignations[73] - The Risk Committee provided recommendations to the board regarding the group's risk exposure and future risk strategies[74] - The board is responsible for establishing an effective risk management and internal control system to manage risks rather than eliminate them[82] - The risk management system was reviewed for the year ending December 31, 2019, and the board is confident in its effectiveness[83] - The internal audit department reports directly to the audit committee, ensuring independence from daily operations[82] - The company has established an insider information team to identify and assess potential insider information[84] - The company secretary has undergone more than 15 hours of professional training during the year[85] - The company is committed to ensuring compliance with disclosure obligations under listing rules and applicable laws[87] - Shareholders have the opportunity to seek clarification and deepen their understanding of the company's performance at the annual general meeting[88] - The company has a clear procedure for shareholders to propose resolutions at the annual general meeting[91] - The company has not made any changes to its articles of association and company bylaws during the year[89] - The company actively engages with shareholders and investors through its website, providing access to announcements and financial reports[87] Social Responsibility and Community Engagement - The group has been recognized for 10 consecutive years with the "Talent Enterprise 1st" award, highlighting its commitment to talent development and management philosophy of "recruiting, nurturing, and gathering talent"[102] - The group has established "Midland University" to cultivate industry professionals, promoting professionalization within the sector[103] - The group has received the "ISO 14064 – 1:2006" certification for greenhouse gas emissions verification, affirming its efforts in environmental protection[109] - The group has been awarded the "Caring Company" logo for 16 consecutive years, recognizing its commitment to social responsibility[111] - The group donated 5,000 masks to elderly residents during the COVID-19 pandemic, demonstrating its dedication to community support[120] - The group has actively participated in various community service activities, including supporting the "Clean Coast Day" organized by the Estate Agents Authority[121] - The group has been recognized as a "Caring Enterprise" by Kowloon City District for its ongoing support of charitable activities[122] - The group has launched a series of recruitment events to attract diverse talent and provide ample career development opportunities[106] - The group has been awarded the "Happy Workplace" label for four consecutive years, reflecting its efforts to create a positive work environment[113] - The group has received multiple awards for its environmental initiatives, including the "Hong Kong Green Organization Certification"[108] - The company has identified 15 significant environmental, social, and governance (ESG) issues based on a materiality assessment conducted during the reporting period[139] - The company emphasizes the importance of ethical business operations, strictly prohibiting any form of bribery, extortion, fraud, or corruption[132] - The company has implemented a whistleblowing policy and mechanism to allow employees and stakeholders to confidentially report any potential misconduct or fraudulent activities[132] - The company engages with stakeholders through various channels, including annual general meetings, internal communications, and surveys, to gather feedback and improve ESG strategies[135] - The company has developed new policies to further integrate ESG management into daily operations, covering aspects such as environmental management and green procurement practices[131] - The company conducts regular reviews of ESG issues to ensure their relevance and significance to its operations[138] - The company adheres to the Competition Ordinance and supports fair competition among industry peers, prohibiting anti-competitive behaviors[133] - The company has established training programs for employees to raise awareness of anti-corruption practices and compliance with relevant laws[132] - The company has set up a stakeholder engagement process to better understand their expectations and concerns regarding ESG matters[136] - The company has established a Product Responsibility Policy to enhance customer experience, service reliability, and data privacy[38] - The company has implemented multiple measures to protect customer personal data, including restricted access to documents containing personal information[144] Environmental Performance and Sustainability - The total electricity consumption for the year was 9,444,478 kWh[167] - The total gasoline consumption was 3,777 liters[167] - Direct greenhouse gas emissions (Scope 1) amounted to 9.03 tCO2e[167] - Indirect greenhouse gas emissions (Scope 2) were 5,700.38 tCO2e[167] - The total water consumption was 5,836 m³, with a water consumption density of 1.16 m³ per employee[167] - A total of 3,070 fluorescent tubes were disposed of, while 16,434 kg of paper was recycled[167] - The company has implemented energy-efficient measures expected to reduce energy consumption by 20%-30%[162] - The company has received a waste reduction certificate at the excellence level for its efforts in waste management[164] - The company has installed timers on outdoor lighting to control operation times, supporting the Hong Kong Environmental Bureau's outdoor lighting charter[163] - The company collaborates with over 60 suppliers, prioritizing local suppliers to reduce carbon footprint[172] - The company has established a Green Procurement Policy to promote environmentally friendly procurement practices, prioritizing suppliers that provide sustainable and socially responsible products and services[173] - The company has donated 0.1% of all second-hand transaction commissions to the Mei Lun Charity Fund since its establishment in 2004, supporting local community development[174] - The company has participated in the "Million Walk" event organized by the Community Chest to raise funds for family and children's welfare services, with a team of 100 enthusiastic participants[177] - The company has supported the "School Start" program for six consecutive years, providing training to underprivileged students to enhance their speaking and sales skills[180] - The company collected 75 kilograms of trash during the "Clean Coast Day" event, demonstrating its commitment to marine conservation and environmental protection[186] - The company has received multiple awards for its environmental performance, including the "Innovative Energy Saving Enterprise Award" from CLP Group[188] - The company has been recognized for its social responsibility efforts, receiving the "Caring Company" logo from the Hong Kong Council of Social Service for 16 consecutive years[175] - The company has participated in various community activities, including the "Flag Day" and "Mid-Autumn Festival Volunteer Activities," to support the elderly and underprivileged[182][183] - The company has implemented a comprehensive supplier management system to monitor and evaluate supplier performance, ensuring compliance and continuous improvement[173] - The company has engaged in various initiatives to promote social inclusion and environmental protection, collaborating with organizations to create long-term value for the community[174] Dividend Policy and Financial Strategy - The group reported a comprehensive income statement for the year ended December 31, 2019, with detailed performance analysis available on page 74 of the annual report[197] - The board does not recommend a final dividend for the year ended December 31, 2019, consistent with the previous year[198] - The company has adopted a dividend policy aimed at providing a relatively stable payout ratio based on the group's profit performance and cash flow situation[199] - The group intends to maintain a stable financial position and hold sufficient cash to seize any potential expansion and investment opportunities[200]

Financial Performance - The group recorded revenue of approximately HKD 2.897 billion for the six months ended June 30, 2019, representing a slight increase of 3.3% compared to the same period in 2018[7]. - Profit attributable to equity holders decreased by 37.8% to approximately HKD 94 million, down from approximately HKD 150 million in the same period last year[7]. - Operating profit decreased to HKD 119,207, down 22.3% from HKD 153,368 in the previous year[60]. - Total comprehensive income for the period, after tax, was HKD 92,121, compared to HKD 151,695 in the previous year, reflecting a decrease of 39.2%[61]. - Basic earnings per share for the period were HKD 13.03, down from HKD 20.95 in the same period last year[60]. - The company did not declare an interim dividend for the period, compared to HKD 0.032 per share for the same period last year[54]. - The company reported a loss on the sale of property and equipment amounting to HKD 1,658 for the six months ended June 30, 2019[114]. Market Conditions - The local residential market showed signs of recovery in early 2019, with first-hand residential sales increasing by 63% year-on-year to 12,539 units in the first half of 2019, which is about 80% of the total sales for 2018[8]. - The group anticipates a cautious outlook for the local market due to global economic uncertainties and local social tensions, which may affect local economic expansion and retail sales[12]. - The group acknowledges the potential for long-term demand in the local property market due to the strategic role of Hong Kong as an international financial and trade center under the Greater Bay Area development plan[13]. - The group is closely monitoring the impact of international trade tensions and local socio-political issues on market conditions[12]. - The group remains optimistic about the long-term prospects of the Hong Kong property market despite current challenges[13]. Operational Changes - The group faced significant increases in rental and commission rebate expenses, impacting overall performance despite meeting sales expectations[7]. - The group plans to adapt its sales strategies in response to government policies, such as the introduction of a vacancy tax on first-hand private residential units[8]. - The group has increased its focus on cross-selling among various sales departments to enhance customer experience and revenue sources[17]. - The group plans to strengthen its competitiveness in the secondary residential property market due to anticipated declines in new residential supply[18]. Financial Position - The group's cash and bank deposits as of June 30, 2019, amounted to HKD 1,189,671,000, an increase from HKD 942,290,000 as of December 31, 2018[23]. - The group's interest-bearing bank borrowings as of June 30, 2019, were HKD 484,900,000, up from HKD 255,500,000 as of December 31, 2018[23]. - The asset-to-equity ratio increased to 32.6% as of June 30, 2019, compared to 17.5% as of December 31, 2018[23]. - The group's current ratio was 1.1 as of June 30, 2019, down from 1.2 as of December 31, 2018, indicating a slight decrease in liquidity[23]. - The return on equity for the group was 6.3% for the period ending June 30, 2019, compared to 9.6% for the same period in 2018[23]. Shareholder Information - As of June 30, 2019, Mr. Huang Jianye holds 24,490,000 shares and 227,337,824 related shares, totaling 259,036,984 shares, representing approximately 36.08% of the company's issued voting shares[30]. - The company has a significant concentration of ownership, with the top two shareholders holding over 67% of the voting shares[40]. - The total number of shares held by major shareholders includes 259,036,984 shares held by Ms. Dai Meili, representing approximately 36.08%[40]. - The company’s weighted average number of shares remained constant at 718,046,005 shares for both June 30, 2019, and December 31, 2018[131]. Compliance and Governance - The company has a robust governance structure, ensuring compliance with the Securities and Futures Ordinance and the Listing Rules[30]. - The company complied with all corporate governance code provisions during the interim period[56]. - All directors confirmed compliance with the company's securities trading code during the interim period[57].

Sales Performance - The company achieved significant sales success in the new property market, securing exclusive agency contracts for projects such as AVA 228 and LARVOTTO, and winning sales championships for multiple new developments [19]. - The company reported a strong performance in residential property agency services, reflecting its ability to capture market opportunities and collaborate effectively with major developers [19]. - Strong sales performance in the luxury property market is expected to continue, with the group focusing on expanding its luxury market segment [41]. - The first-hand market slowdown has negatively impacted the group's performance, but there are expectations for a rebound in new property sales in 2019 [41]. Financial Performance - The group reported revenue of approximately HKD 5.01 billion for the year ended December 31, 2018, a decrease of 5.4% compared to HKD 5.30 billion in the same period of 2017 [33]. - The net profit attributable to equity holders dropped by 69.9% to approximately HKD 58 million, down from HKD 193 million in 2017 [33]. - The average residential property price increased by 8.7% from HKD 12,425 per square foot at the beginning of the year to HKD 13,501 per square foot by mid-year 2018 [33]. - The total number of transactions in the residential property market fell by 16.2% to 15,633 in 2018, marking the lowest level since 2013 [33]. - The company declared an interim dividend of HKD 0.032 per share for the six months ended June 30, 2018, compared to no dividend in 2017 [154]. - The board did not recommend a final dividend for the year ended December 31, 2018, down from HKD 0.05 per share in 2017 [155]. - The company plans to maintain a stable financial position and hold sufficient cash to seize potential expansion and investment opportunities [157]. Corporate Governance - The company maintains a strong governance structure with a dedicated board and various committees to oversee its operations and ensure compliance with regulatory standards [8]. - The company emphasizes strong corporate governance practices to enhance shareholder value and protect shareholder interests [59]. - The company has complied with all corporate governance code provisions as per the Stock Exchange Listing Rules during the year ended December 31, 2018 [60]. - The board consists of eight members, including four executive directors, one non-executive director, and three independent non-executive directors [63]. - The company has established arrangements for stakeholders to raise concerns regarding financial reporting, internal controls, or other potential misconduct [79]. - The company has adopted a board diversity policy in August 2013, recognizing the importance of a diverse board for maintaining competitive advantage [83]. Customer Engagement and Service - The company launched a customer-centric initiative, "Thank You • Feedback," providing various promotional activities and gifts to enhance brand appeal and customer loyalty [16]. - The company established a "Comprehensive Customer Center" in 2016 and introduced the "Property Chat" service in 2017, which received two prestigious customer service awards within a year of launch [18]. - The company has been recognized for its customer service quality, reflecting its proactive approach to understanding and meeting client needs [18]. - The company has implemented a customer relationship team to enhance service quality and gather customer feedback through multiple channels [144]. - The company has achieved ISO 9001:2015 certification for its quality management system, reflecting its commitment to customer service [144]. Talent Development - The group emphasizes the importance of talent development, having received the "Asia Pacific Outstanding Employer Award" for three consecutive years and the "Excellence Employer Award" five times [27]. - The group has established "Midland University" to cultivate industry professionals and promote professionalization within the sector [30]. - The company emphasizes employee training and development through various programs, including the "Flying Tiger Program" and "PTU Program" for frontline staff [143]. - The company has trained and recognized 30 frontline professionals with the "Outstanding Salesperson Award," highlighting its commitment to talent development [107]. Community Engagement and Corporate Social Responsibility - The company has been recognized for its corporate social responsibility efforts, receiving the "Caring Company" logo for 15 consecutive years [122]. - The company has actively supported local suppliers in its procurement policies to reduce transportation emissions [132]. - The company has engaged in various community support activities, including sponsoring charity events and providing volunteer services [125]. - The company has supported the "School Activation" program for five consecutive years, providing comprehensive support to partner schools, including funding for infrastructure and career planning activities [120]. - The company has organized various community activities, including participation in the "Million Walk" charity event, with nearly 100 team members joining to support those in need [121]. Environmental Sustainability - The company has been awarded the "ISO 14064-1: 2006" certification for its greenhouse gas emissions inventory, reflecting its commitment to environmental protection [114]. - The company achieved a direct greenhouse gas emission of 23.67 tons of CO2 equivalent in 2018, a decrease of 24.0% from 31.16 tons in 2017 [134]. - The total energy indirect emissions were 106.17 tons of CO2 equivalent in 2018, slightly up from 105.45 tons in 2017 [134]. - The company has implemented various energy-saving measures, including the use of LED lighting and automatic shut-off for non-operational devices [135]. - The company received the "Energy Saving Award" in the 2018 CLP Eco Energy Award Scheme [137]. Strategic Initiatives - The group is actively improving overall cost efficiency to maintain market competitiveness amid a declining market environment [41]. - A strategic team has been established to capture market opportunities in the Greater Bay Area, aligning with the new economic developments [42]. - The group launched the internal mobile application "M One" in the second half of 2018, marking a significant milestone in its interactive mobile work platform [43]. - The credit business commenced operations in the second half of 2018, contributing to the establishment of a comprehensive business ecosystem [43]. - The company has introduced a new webpage dedicated to the Greater Bay Area, providing detailed real estate data and living information for both Hong Kong and mainland China [108].