Financial Performance - Revenue for the year ended December 31, 2024, increased to RMB 377,314,000, up 10.5% from RMB 341,405,000 in 2023[17] - Gross profit rose to RMB 81,299,000, representing a 31.6% increase from RMB 61,693,000 in the previous year[17] - Net loss for 2024 was RMB 21,594,000, compared to a net loss of RMB 13,746,000 in 2023, indicating a worsening of 57.1%[17] - Basic loss per share increased to RMB 5.42 from RMB 3.47, reflecting a 56.0% increase in losses per share[17] - The gross profit margin in 2024 was 21.5%, an increase of 3.4 percentage points compared to 2023[41] - Gross profit for 2024 was approximately RMB 81.3 million, representing an increase of approximately RMB 19.6 million or approximately 31.8% compared to RMB 61.7 million in 2023[94] - The gross profit margin for the year ended 31 December 2024 was 21.5%, up from 18.1% for the year ended 31 December 2023, primarily due to a significant increase in higher-margin non-residential property revenue[97] Revenue Breakdown - Property management services accounted for RMB 323,809,000 of total revenue, a 11.7% increase from RMB 289,885,000 in 2023[18] - Value-added services revenue grew to RMB 44,130,000, up 5.0% from RMB 41,869,000 in 2023[18] - Property developer related services revenue slightly decreased to RMB 9,375,000 from RMB 9,651,000, a decline of 2.8%[18] - Revenue from property management services increased by approximately RMB 33.9 million, or about 11.7% year on year, with residential properties contributing approximately RMB 21.8 million or approximately 9.1% to this increase[75] - The Group's revenue generated from property management services, property developer related services, and value-added services contributed 85.8%, 2.5%, and 11.7% to the total revenue, respectively[71] - Revenue from non-residential properties increased by approximately RMB 12.1 million or approximately 24.2%, primarily due to the acquisition of 4 non-residential properties during the year[75] - The revenue-bearing GFA for residential properties was 12,354,000 sq.m., generating revenue of RMB 261.85 million, which accounted for 80.9% of total revenue from property management services[78] - The revenue from property management services for non-residential properties was RMB 61.96 million, accounting for 19.1% of total revenue from property management services[78] Market Conditions - In 2024, the real estate market is experiencing deep adjustments with sluggish market demand and significant inventory pressure[35] - The property management industry is facing unprecedented challenges and changes due to the current market conditions[35] Company Recognition and Achievements - The company ranked 38th in the "2024 Top 100 Property Management Companies in China"[29] - The company was recognized as one of the "2024 Top 100 Brand Influential Property Management Companies in China"[31] - The company received the honor of being among the "2024 Top 100 High-quality Service Property Management Companies in China"[32] - The company was also listed in the "2024 Top 10 Residential Service Power Property Management Companies in North China"[32] Operational Efficiency and Customer Service - The company focuses on enhancing professional capabilities and improving management efficiency to support business development[35] - A rapid response mechanism, including 24-hour customer service and an online repair platform, has been established to improve customer experience[36] - Regular satisfaction surveys are conducted to dynamically adjust service content based on property owners' needs[36] - The company promotes both "invisible service" and "active service" to continuously enhance customer experience[36] Growth and Expansion Plans - The Company aims to consolidate its basic business while achieving high-quality growth through diversified expansion in the future[43] - The Group is committed to fulfilling social responsibility and promoting green and sustainable development initiatives[38] - The Company plans to enhance operational efficiency and explore new growth points to achieve high-quality service and management[43] - The Group aims to strengthen its market expansion efforts and pursue quality scale growth in residential and commercial properties[58] - By 2025, the Group plans to develop new modules for value-added services and provide professional property training services to external property companies[66] Assets and Liabilities - Total assets decreased to RMB 422,346,000 from RMB 439,484,000, a decline of 3.9%[20] - Total liabilities increased slightly to RMB 208,294,000 from RMB 203,610,000, an increase of 2.3%[20] - Total equity decreased to RMB 214,052,000 from RMB 235,874,000, a decline of 9.3%[20] - Trade and other receivables increased by approximately RMB38.4 million or about 40.4% from RMB95.1 million as of December 31, 2023, to RMB133.5 million as of December 31, 2024[126] - Trade receivables increased by approximately RMB38.3 million or about 48.9% from RMB78.4 million as of December 31, 2023, to RMB116.7 million as of December 31, 2024[130] Management and Governance - The company has a diverse board with members holding various positions in both local and overseas companies, enhancing its strategic oversight capabilities[182] - The company emphasizes the importance of financial qualifications among its executives, with members holding relevant degrees and certifications[186] - The board includes independent non-executive directors who provide independent judgment and advice, ensuring corporate governance[191] - Mr. Chan Cheong Tat has been appointed as an independent non-executive director since February 17, 2020, and serves as the chairman of the Audit Committee[196] - Mr. Chan provides independent judgment and advice to the Board, contributing to the Nomination and Remuneration Committees[199] Employee and Staff Information - Staff costs for the year ended December 31, 2024, amounted to approximately RMB158.9 million, with a total of 1,226 employees[159] Future Outlook - The company adopted a more cautious approach towards mergers and acquisitions due to the ongoing downtrend in the real estate industry, delaying the utilization of proceeds[145] - The Group did not have detailed future plans for material investments or capital assets as of December 31, 2024[148]

Financial Performance - For the fiscal year ending December 31, 2024, the total revenue of Ye Xing Group Holdings Limited was approximately RMB 377.3 million, an increase of about RMB 35.9 million or approximately 10.5% compared to RMB 341.4 million for the fiscal year ending December 31, 2023[2]. - The company reported a total comprehensive loss of approximately RMB 21.6 million for the fiscal year, compared to a loss of RMB 13.7 million in the previous year[2]. - Basic loss per share for the fiscal year was RMB 5.42, compared to RMB 3.47 in the previous year[4]. - The company reported a pre-tax loss of RMB 21,965,000 for 2024, compared to a loss of RMB 14,048,000 in 2023, indicating a year-over-year increase in losses of approximately 56.5%[20]. - The annual loss for the year ending December 31, 2024, was approximately RMB 21.6 million, compared to a loss of approximately RMB 13.7 million for the year ending December 31, 2023, primarily due to impairment losses on trade and other receivables[65]. Revenue Breakdown - Revenue from property management services accounted for 85.8% of total revenue, while revenue from value-added services and property developer-related services accounted for 11.7% and 2.5%, respectively[2]. - The company's revenue for property management services in 2024 was RMB 323,809 thousand, an increase of 11.7% from RMB 289,885 thousand in 2023[13]. - Total revenue for 2024 reached RMB 377,314 thousand, up 10.5% from RMB 341,405 thousand in 2023[13]. - Revenue from property management services increased by approximately RMB 33.9 million or about 11.7%, with residential property revenue rising by approximately RMB 21.8 million or about 9.1%[49]. - Revenue from property developer-related services decreased by approximately RMB 0.3 million or about 3.1% to approximately RMB 9.4 million for the year ended December 31, 2024[52]. Assets and Liabilities - Non-current assets decreased from RMB 142.6 million in 2023 to RMB 136.2 million in 2024[5]. - Current assets increased from RMB 279.8 million in 2023 to RMB 303.3 million in 2024[5]. - The company’s cash and cash equivalents increased from RMB 116.7 million in 2023 to RMB 140.1 million in 2024[5]. - The net assets of the company increased from RMB 214.1 million in 2023 to RMB 235.9 million in 2024[5]. - As of December 31, 2024, the total assets of the company were approximately RMB 422.3 million, a decrease from approximately RMB 439.5 million as of December 31, 2023[66]. - The company's total liabilities increased to approximately RMB 208.3 million as of December 31, 2024, compared to approximately RMB 203.6 million as of December 31, 2023[66]. Employee Costs - Total employee costs increased to RMB 158,942,000 in 2024 from RMB 138,029,000 in 2023, reflecting a growth of about 15.1%[18]. - The company reported a significant increase in expected credit losses for trade receivables, rising to RMB 96,107,000 in 2024 from RMB 57,472,000 in 2023, an increase of approximately 67.2%[29]. - The company’s other employee benefits contributions rose to RMB 23,379,000 in 2024 from RMB 21,345,000 in 2023, an increase of about 9.5%[18]. - As of December 31, 2024, the company had 1,226 employees, with employee costs for the fiscal year amounting to approximately RMB 158.9 million[86]. Corporate Governance - The company has adhered to all applicable corporate governance code provisions except for the separation of the roles of the chairman and CEO, as required by provision C.2.1[89]. - The chairman and CEO roles are currently held by the same individual, which the board believes provides strong and consistent leadership during the company's development stage[90]. - The company has established a corporate governance framework and policies to enhance the board's governance capabilities and oversight of business conduct[91]. - The audit committee has reviewed the accounting principles and practices adopted by the group, discussing risk management, internal controls, and financial reporting matters[94]. - The company is committed to continuously reviewing and monitoring its corporate governance practices to ensure compliance with the corporate governance code[91]. Strategic Initiatives - The company aims to strengthen its market expansion efforts while maintaining quality service standards, focusing on residential and commercial properties[40]. - The company is committed to enhancing value-added services, including cleaning, greening, and community retail, while also launching new live-streaming sales initiatives[41]. - The company has a vision of becoming a leading property management service provider in China, with a focus on quality service and customer needs[39]. - The group plans to enhance value-added services and provide property professional training services to external property companies by 2025[45]. - The company aims to meet the growing diverse living needs of customers through diversified business service extensions[45]. Financial Reporting and Compliance - The company has adopted revised Hong Kong Financial Reporting Standards effective from January 1, 2024, with no significant impact on the financial position and performance[9]. - The audit firm has agreed that the figures in the announcement align with the audited consolidated financial statements for the fiscal year ending December 31, 2024[95]. - The annual report for the fiscal year ending December 31, 2024, will be sent to shareholders and published on the company's website[96]. - The company does not plan to declare a final dividend for the fiscal year ending December 31, 2024[84]. - There have been no significant acquisitions or disposals of subsidiaries or joint ventures as of December 31, 2024[81].

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 186,856,000, representing an increase of 9.9% from RMB 170,728,000 in 2023[7]. - Gross profit decreased to RMB 41,067,000, down 13.5% from RMB 47,141,000 in the previous year[7]. - Net profit for the period was RMB 6,726,000, a decline of 49.6% compared to RMB 13,345,000 in 2023[7]. - Basic earnings per share decreased to 1.64 RMB cents, down from 3.29 RMB cents in the prior year[7]. - The profit and total comprehensive income amounted to approximately RMB 6.7 million, reflecting a decrease of approximately 49.6% compared to the same period in 2023[19]. - The gross profit margin for the six months ended June 30, 2024 was 22.0%, a decrease of 5.6 percentage points compared to the same period in 2023[19]. - The net profit margin for the same period was 3.6%, representing a decrease of 4.2 percentage points compared to the corresponding period in 2023[19]. - Profit before tax for the period was RMB 10,465,000, a decline of 37.0% compared to RMB 16,588,000 in the previous year[142]. - The profit and total comprehensive income for the period was RMB 6,638,000 for the six months ended June 30, 2024, compared to RMB 13,336,000 in the same period of 2023[148]. Revenue Breakdown - Property management services generated revenue of RMB 157,927,000, up from RMB 147,707,000 in 2023, reflecting a growth of 6.8%[9]. - Value-added services revenue increased to RMB 24,915,000, a rise of 24.8% from RMB 19,948,000 in the previous year[9]. - Revenue from property management services was approximately RMB 157.9 million for the six months ended June 30, 2024, an increase of about RMB 10.2 million or approximately 6.9% year-on-year[39]. - Revenue from residential property management services was approximately RMB 127.5 million, slightly increasing by approximately RMB 6.7 million or about 5.5% compared to the same period in 2023[39]. - Revenue from non-residential property management services was approximately RMB 30.4 million, an increase of approximately RMB 3.5 million or about 13.0% compared to the same period in 2023[39]. - Revenue from property developer related services increased by approximately RMB 0.9 million or about 29.0% to approximately RMB 4.0 million for the six months ended June 30, 2024[45]. - Revenue from sales assistance services for the six months ended June 30, 2024, was approximately RMB 3.5 million, representing an increase of approximately RMB 1.0 million or about 40.0% compared to the same period in 2023[45]. Operational Efficiency and Strategy - The company plans to invest in new technologies to improve operational efficiency and service delivery[7]. - Management is exploring potential mergers and acquisitions to strengthen market position and diversify service portfolio[7]. - The Group aims to enhance service quality through advanced technology and innovative service measures, focusing on customer needs[27]. - The Group plans to explore innovative development paths and profit growth points to achieve high-quality services and rapid business development[33]. - The Group's strategy includes combining property management with value-added services to enhance brand strength and promote socialized family services[33]. Assets and Liabilities - The total assets of the Company as at 30 June 2024 were RMB468,303,000, an increase from RMB439,484,000 as at 31 December 2023[10]. - Total liabilities as of 30 June 2024 were approximately RMB225.7 million, up from approximately RMB203.6 million as of 31 December 2023[56]. - The current ratio as of 30 June 2024 remained stable at 1.5, unchanged from 31 December 2023[56]. - Trade and other receivables increased by approximately RMB37.9 million or about 39.9% from approximately RMB95.1 million as of December 31, 2023, to approximately RMB133.0 million as of June 30, 2024[59]. - Trade receivables increased by approximately RMB37.7 million or about 48.1% from approximately RMB78.4 million as of December 31, 2023, to approximately RMB116.1 million as of June 30, 2024[59]. - Contract liabilities increased by approximately RMB26.0 million or about 32.2% to approximately RMB106.8 million as of June 30, 2024, from approximately RMB80.8 million as of December 31, 2023[61]. Corporate Governance - The Board is committed to high standards of corporate governance, believing it is key to protecting shareholders' interests and enhancing corporate value[94]. - The Company complied with all applicable code provisions of the Corporate Governance Code, except for the separation of the roles of Chairman and Chief Executive Officer[94]. - The Group will continue to review and monitor its corporate governance practices to ensure compliance with the Corporate Governance Code[95]. - All Directors confirmed compliance with the Model Code for securities transactions during the six months ended June 30, 2024[97]. Employee and Staff Information - As of June 30, 2024, the Group had a total of 854 employees, an increase from 846 employees as of December 31, 2023[89]. - Staff costs for the six months ended June 30, 2024, amounted to approximately RMB 82.4 million[90]. - The Group contributes to the PRC social security fund and housing provident fund for its PRC employees, with no obligation for post-retirement benefits beyond contributions made[91]. Share Option Scheme - The Share Option Scheme was approved on February 17, 2020, to grant options to eligible participants, linking their interests with the company[121]. - The maximum number of shares that can be granted under the Share Option Scheme is 40,000,000, representing approximately 10% of the issued shares at the listing date[129]. - No options have been granted, exercised, or cancelled under the Share Option Scheme as of June 30, 2024[131].

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 就 因 本 公 告 全 部 或 任 何 部 分 內 容 而 產 生 或 因 依 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 Ye Xing Group Holdings Limited 燁星集團控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1941） 截至二零二四年六月三十日止六個月 中期業績公告 | --- | --- | |-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Financial Performance - Total revenue for the year ended December 31, 2023, was RMB 341,405,000, a slight decrease of 0.3% from RMB 343,498,000 in 2022[15]. - Gross profit for 2023 was RMB 61,693,000, down from RMB 67,023,000 in 2022, reflecting a decline of approximately 7.9%[15]. - The net loss for the year narrowed to RMB 13,746,000 compared to a net loss of RMB 51,872,000 in 2022, indicating an improvement of 73.5%[15]. - Basic loss per share improved to RMB 3.47 in 2023 from RMB 12.81 in 2022[15]. - In 2023, the company achieved revenue of approximately RMB 341.4 million, representing a slight decrease of about 0.6% year on year[38]. - The gross profit for 2023 was approximately RMB 61.7 million, reflecting a decrease of about 7.9% year on year, with a gross profit margin of 18.1%, down 1.4 percentage points from 2022[38][50]. - The Group's gross profit for the year ended 31 December 2023 was approximately RMB 61.7 million, a decrease of approximately RMB 5.3 million or about 7.9% compared to RMB 67.0 million in 2022[102]. - The gross profit margin decreased to 18.1% in 2023 from 19.5% in 2022, primarily due to a significant decrease in revenue from non-residential properties[102]. Revenue Breakdown - Property management services generated RMB 289,885,000 in revenue, slightly down from RMB 290,233,000 in 2022[16]. - Value-added services revenue increased to RMB 41,869,000, up 21.5% from RMB 34,492,000 in 2022[16]. - Revenue from property management services accounted for 84.9% of total revenue, while property developer related services and value-added services contributed 2.8% and 12.3%, respectively[70]. - Revenue from residential properties accounted for 82.8% of total revenue in 2023, compared to 80.8% in 2022[82]. - Revenue from non-residential properties accounted for 17.2% of total revenue in 2023, down from 19.2% in 2022[82]. - The total revenue from home living services was approximately RMB 19.4 million, accounting for 46.4% of the total value-added services revenue in 2023, compared to RMB 8.2 million or 23.7% in 2022[96]. - The revenue from leasing of common areas was approximately RMB 21.2 million, representing 50.6% of the total value-added services revenue in 2023, down from RMB 25.0 million or 72.6% in 2022[96]. Assets and Liabilities - Total assets as of December 31, 2023, were RMB 439,484,000, an increase of 5.6% from RMB 416,253,000 in 2022[18]. - Total liabilities remained relatively stable at RMB 203,610,000 compared to RMB 203,479,000 in 2022[18]. - Total equity increased to RMB 235,874,000, up 10.8% from RMB 212,774,000 in 2022[18]. - The total liabilities as of December 31, 2023, were approximately RMB 203.6 million, slightly up from approximately RMB 203.5 million as of December 31, 2022[125]. - The current ratio as of December 31, 2023, was 1.5, compared to 1.6 as of December 31, 2022[125]. Operational Highlights - The company managed 59 residential property projects with a total revenue-bearing GFA of approximately 12.0 million sq.m., accounting for 93.3% of total revenue-bearing GFA[39][53]. - The company also managed 17 non-residential property projects, with a total revenue-bearing GFA of approximately 0.9 million sq.m., representing 6.7% of total revenue-bearing GFA[39][53]. - As of December 31, 2023, the company's contracted GFA was approximately 15.9 million sq.m., and the total revenue-bearing GFA under management exceeded 12.9 million sq.m., marking increases of 6.0% and 4.0% respectively compared to 2022[39][53]. - The total number of properties managed by the Group increased to 76 in 2023 from 75 in 2022[56]. - The company actively seeks diversified expansion, successfully signing contracts for property projects such as Chengdu Metro and Tianjin Weicai Kindergarten during the year[44][46]. Strategic Focus - The company is focusing on expanding its value-added services to enhance revenue streams in the future[16]. - The property management industry is gradually returning to organic development post-epidemic, despite facing challenges such as a downturn in the real estate sector[30]. - The Group aims for stable growth by reorganizing internal and external risks and improving management efficiency[30]. - The mission of the Group is to create an enjoyable living environment, focusing on customer experience and service quality[31]. - The integration of property management and value-added services is being actively explored, enhancing service relationships with owners[33]. - Looking ahead to 2024, the Group plans to expand service boundaries and explore new development paths to achieve high-quality and sustainable growth[69]. Employee and Remuneration Policies - As of December 31, 2023, the Group had a total of 846 employees, with staff costs for the year amounting to approximately RMB138.0 million[177]. - The Group contributes to various social security funds for its PRC employees, including pension, medical, unemployment, maternity, and work injury insurance, with monthly contributions made to defined contribution retirement schemes[179]. - The remuneration policy for Directors is based on individual performance, Company profitability, and industry remuneration levels[181]. - The Group's employee remuneration policies are aligned with market trends and information to attract and retain talent[181]. - The Company aims to ensure competitive remuneration in line with prevailing market conditions[181]. Awards and Recognition - The Group received the honor of being one of the "2023 Top 10 Service Power Property Management Companies in North China"[28]. - The Group was recognized as a "2023 Quality Leading Company of North China in Property Service"[28]. - The company has received multiple awards for excellence in property management, including "2019 Industry Leader" and "2020 Top 30 CEOs" in China[196].

Revenue Performance - For the year ended December 31, 2023, the total revenue of the group was approximately RMB 341.4 million, a slight decrease of about RMB 2.1 million or approximately 0.6% compared to RMB 343.5 million for the year ended December 31, 2022[2]. - Revenue from property management services accounted for 84.9% of total revenue, while revenue from property developer-related services and value-added services accounted for 2.8% and 12.3%, respectively[2]. - Revenue from property developer-related services decreased by approximately RMB 9.1 million or about 48.4% to RMB 9.7 million year-on-year[2]. - Revenue from value-added services increased by approximately RMB 7.4 million or about 21.4% to approximately RMB 41.9 million year-on-year[2]. - Total revenue for the year 2023 was RMB 341,405,000, slightly down from RMB 343,498,000 in 2022, representing a decrease of approximately 0.6%[18]. - Revenue from property management services was RMB 289,885,000 in 2023, compared to RMB 290,233,000 in 2022, indicating a marginal decline of 0.1%[18]. - Revenue from value-added services increased to RMB 41,869,000 in 2023, up from RMB 34,492,000 in 2022, reflecting a growth of approximately 21.0%[18]. - Revenue from residential properties was RMB 240.0 million, accounting for 82.8% of the total revenue from property management services[60]. - The geographical distribution of revenue showed that Beijing contributed RMB 93.2 million, accounting for 32.1% of total revenue[62]. Financial Performance - The total comprehensive loss for the year was approximately RMB 13.7 million, a significant improvement from a loss of RMB 51.9 million in the previous year[2]. - The gross profit for the year was RMB 61.7 million, down from RMB 67.0 million in the previous year, reflecting a decrease of approximately 8.5%[4]. - The basic loss per share for the year was RMB 3.47, compared to RMB 12.81 in the previous year, indicating a reduction in loss per share[4]. - The company reported a pre-tax loss of RMB 14,048,000 in 2023, compared to a loss of RMB 51,909,000 in 2022, representing a significant improvement[24]. - The company reported a net loss attributable to shareholders of RMB 14,048,000 for the year ended December 31, 2023[24]. - The company’s gross profit for the year ended December 31, 2023, was approximately RMB 61.7 million, a decrease of about RMB 5.3 million or 7.9% from RMB 67.0 million in the previous year[68]. - The gross profit margin decreased to 18.1% for the year ended December 31, 2023, down from 19.5% in the previous year, primarily due to a significant reduction in higher-margin non-residential property income[68]. Assets and Liabilities - The net assets of the company increased to RMB 235.9 million from RMB 212.8 million in the previous year, representing a growth of approximately 10.9%[6]. - The total assets decreased to RMB 303.3 million from RMB 315.1 million, a decline of approximately 3.9%[6]. - Trade and other receivables increased to RMB 95.1 million from RMB 86.4 million, reflecting an increase of approximately 10.0%[6]. - The company’s total liabilities as of December 31, 2023, were approximately RMB 203.6 million, slightly up from RMB 203.5 million as of December 31, 2022[80]. - The company’s property, plant, and equipment decreased by approximately RMB 4.5 million or 10.8% to approximately RMB 37.2 million as of December 31, 2023, mainly due to depreciation[81]. - The company’s intangible assets decreased by approximately RMB 3.2 million or 20.3% to approximately RMB 12.6 million as of December 31, 2023, primarily due to amortization[82]. - As of December 31, 2023, trade and other payables amounted to RMB 115.6 million, a decrease of approximately RMB 10.8 million or about 8.5% compared to RMB 126.4 million on December 31, 2022[92]. Employee and Operational Metrics - As of December 31, 2023, the group had a total of 846 employees, with employee costs amounting to approximately RMB 138.0 million for the fiscal year[106]. - Total employee costs decreased from RMB 143,939,000 in 2022 to RMB 138,029,000 in 2023, a reduction of approximately 4%[23]. - The company has 157 properties held for sale as of 2023, down from 193 in 2022, indicating a reduction in available inventory[26]. - The company managed 59 residential projects with a total revenue gross floor area of approximately 12.0 million square meters, accounting for 93.3% of the total revenue gross floor area[48]. Governance and Compliance - The company has adhered to all applicable corporate governance code provisions, except for the deviation regarding the separation of the roles of the chairman and CEO, which is deemed appropriate at this stage of development[110]. - The audit committee, consisting of members including Mr. Chan Cheung Tat (Chairman), has reviewed the accounting principles and practices adopted by the group, as well as risk management and internal controls[116]. - The group’s auditor, KPMG, has agreed that the figures in the announcement align with the audited consolidated financial statements for the fiscal year ending December 31, 2023[117]. Future Outlook - Looking ahead to 2024, the company aims to broaden service boundaries and explore new development paths and growth points[56]. - The company plans to maintain high-quality sustainable development while actively promoting green and low-carbon lifestyles[55].

Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 170,728,000, a decrease of 0.24% from RMB 172,147,000 in 2022[7] - Gross profit for the same period was RMB 47,141,000, down 4.0% from RMB 49,086,000 in 2022[7] - Net profit increased to RMB 13,345,000, representing a 42.4% increase compared to RMB 9,356,000 in 2022[7] - Basic earnings per share rose to 3.29 RMB cents, up from 2.29 RMB cents in the previous year[7] - Gross profit for H1 2023 was approximately RMB47.1 million, a decrease of approximately RMB2.0 million or about 4.1% compared to RMB49.1 million in H1 2022[69] - Gross profit margin for H1 2023 was 27.6%, down from 28.5% in H1 2022, primarily due to an increase in revenue from residential properties with lower margins[69] - Revenue from property management services for the first half of 2023 was approximately RMB147.7 million, a slight increase of about RMB2.3 million or 1.6% compared to the same period in 2022[52] - Revenue from residential property management services was approximately RMB120.8 million, up by approximately RMB4.6 million or 4.0% year-over-year, attributed to an increase in managed projects and newly delivered properties[52] - Revenue from non-residential property management services decreased by approximately RMB2.3 million or 7.9% due to the expiration of service agreements for five non-residential properties[52] - Revenue from property developer related services decreased by approximately RMB5.1 million or about 62.2%, from approximately RMB8.2 million in H1 2022 to approximately RMB3.1 million in H1 2023[60] - Revenue from sales assistance services decreased by approximately RMB4.5 million or about 64.3%, from approximately RMB7.0 million in H1 2022 to approximately RMB2.5 million in H1 2023[60] - Revenue from pre-delivery cleaning and preparation services decreased by approximately RMB0.2 million or about 66.7%, from approximately RMB0.3 million in H1 2022 to approximately RMB0.1 million in H1 2023[60] - Revenue from post-delivery maintenance services decreased by approximately RMB0.8 million or about 80.0%, from approximately RMB1.0 million in H1 2022 to approximately RMB0.2 million in H1 2023[60] - Other income for H1 2023 amounted to approximately RMB1.0 million, a decrease of approximately RMB0.4 million or about 28.6% compared to RMB1.4 million in H1 2022[70] - Income tax expenses for H1 2023 were approximately RMB3.2 million, compared to approximately RMB2.2 million in H1 2022[70] - The net profit of the Group was approximately RMB13.3 million, representing an increase of approximately RMB3.9 million or about 41.5% compared to approximately RMB9.4 million for the six months ended 30 June 2022[80] Property Management Operations - The Group managed a total revenue-bearing GFA of 12.1 million sq.m. as of June 30, 2023, consistent with December 31, 2022[21] - Contracted GFA was approximately 15.4 million sq.m. as of June 30, 2023[21] - The number of managed residential properties was 56, accounting for 92.9% of total revenue-bearing GFA[21] - The total revenue-bearing GFA under management increased from approximately 11.8 million sq.m. as of June 30, 2022, to approximately 12.1 million sq.m. as of June 30, 2023[52] - The number of properties managed increased to 69 as of June 30, 2023, compared to 72 in 2022, indicating a strategic focus on enhancing service quality rather than quantity[23] - The Group's property management services were provided across 15 cities in various provinces, including Beijing-Tianjin-Hebei Region and Hainan Province[17] - The Group aims to enhance its position as a leading property management service provider in the PRC, focusing on service quality and customer satisfaction[17] - The Group has been recognized as one of the Top 100 Property Management Companies in the PRC for six consecutive years since 2016[17] Strategic Initiatives and Services - The Group is actively expanding value-added services, including cleaning, greening, and elderly care, to enhance service offerings and meet diverse customer needs[27] - The "family service system" was reiterated, covering 16 major categories of services with a total of 101 service details designed to cater to residents' needs throughout their living cycle[30] - The Group aims to strengthen its established business standard system and expand diversified business services to meet the growing living needs of customers in the second half of 2023[42] - Total selling expenses for H1 2023 were approximately RMB2.5 million, an increase of approximately RMB1.9 million or about 316.7% compared to RMB0.6 million in H1 2022[70] - Administrative expenses for H1 2023 were approximately RMB24.5 million, an increase of approximately RMB0.6 million or about 2.5% compared to RMB23.9 million in H1 2022[70] Financial Position and Capital Management - Contract liabilities increased by approximately RMB30.0 million or about 43.4% to approximately RMB99.1 million as at 30 June 2023, primarily due to the increase in the number of properties managed[98] - The liabilities to assets ratio remained stable at 0.50 as at 30 June 2023, compared to 0.49 as at 31 December 2022[98] - As at 30 June 2023, the Group had no outstanding bank borrowings and undrawn banking facilities[83] - The right-of-use assets decreased by approximately RMB0.2 million or about 22.2% from approximately RMB0.9 million as at 31 December 2022 to approximately RMB0.7 million as at 30 June 2023[90] - Goodwill remained stable at approximately RMB29.7 million as at 30 June 2023, unchanged from 31 December 2022[91] - The net proceeds from the Listing amounted to approximately HK$129.4 million (equivalent to approximately RMB116.2 million) after deducting underwriting fees and relevant expenses[102] - The planned utilization of net proceeds includes approximately 65.0% for the development and enhancement of information systems and technological initiatives[102] - As of June 30, 2023, approximately RMB47.0 million, representing about 36.3% of the actual net proceeds, was utilized for the expansion of geographic presence and scale of operations in the PRC, including the acquisition of Jiangsu Wanhao[107] - Approximately RMB3.2 million, representing about 2.5% of the actual net proceeds, was utilized for the development and enhancement of the information system and technological initiatives[107] - Approximately RMB4.2 million, representing about 3.2% of the actual net proceeds, was utilized for the expansion of value-added services, including the establishment of a business development team[107] - Approximately RMB1.0 million, representing about 1.0% of the actual net proceeds, was utilized for staff development, focusing on strengthening staff learning and development[107] - Approximately RMB5.7 million, representing about 4.4% of the actual net proceeds, was utilized for general working capital[107] - The Group did not have any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the six months ended June 30, 2023[108] - The unutilized proceeds as of June 30, 2023, were deposited in bank accounts, with an expected timeline for utilization of one year, subject to market conditions[113] Corporate Governance and Compliance - The Group complied with all applicable code provisions set out in the Corporate Governance Code, except for a deviation regarding the separation of the roles of chairman and CEO[127] - The company has no directors or chief executives with interests or short positions in shares or debentures of the company or its associated corporations as of June 30, 2023[147] - Beijing Herun has made an annual declaration of compliance with a non-competition deed established on July 23, 2019, to eliminate competing business[156] - There are no other matters regarding compliance with the non-competition undertakings that need to be brought to the attention of shareholders as of the date of the interim report[156] - The company is committed to ensuring compliance with the Securities and Futures Ordinance (SFO) regarding shareholder disclosures[164] Shareholding Structure - As of June 30, 2023, Mr. Zhao Weihao holds a total of 237,780,000 shares in Ascendor Futur, representing 100% ownership[140] - Winz Strategy Company Limited, wholly owned by Ms. Li Yin Ping, holds 44,370,000 shares, also representing 100% ownership[141] - As of June 30, 2023, Ascendor Futur holds 237,780,000 shares, representing 58.67% of the total shareholding[159] - Will Full, Ms. Wu Hong, and Mr. Zhao Bin also have interests in the same number of shares as Ascendor Futur, indicating a concerted control over the company[161] - Winz Strategy holds 44,370,000 shares, accounting for 10.95% of the total shareholding, beneficially owned by Ms. Li Yin Ping[159] - The shareholding structure indicates a concentrated ownership, with key individuals holding significant stakes in the company[159] Share Option Scheme - The share option scheme was approved on February 17, 2020, allowing the company to grant options to eligible participants, linking their interests with the company's[165] - The share option offers remain open for acceptance for 21 days from the date of the offer, with a non-refundable remittance of HK$1.0 required[167] - The total number of options available for grant under the Share Option Scheme was 40,000,000, representing approximately 9.87% of the issued Shares[179] - The maximum number of Shares that may be granted under the Share Option Scheme is capped at 40,000,000, which is 10% of the issued Shares at the Listing Date[175] - The Share Option Scheme is valid for a period of 10 years, commencing from February 17, 2020, with approximately 6 years and 6 months remaining as of the report date[193] - No options have been granted, agreed to be granted, outstanding, exercised, cancelled, or lapsed under the Share Option Scheme as of June 30, 2023[195] - The subscription price of Shares under the Share Option Scheme will not be less than the highest of the closing price on the offer date, the average closing price for the preceding five business days, or the nominal value of a Share[174] - Eligible Participants may accept an offer for less than the total number of Shares offered, provided it is in respect of a board lot or an integral multiple thereof[173] - The Company may seek approval from Shareholders to refresh the 10% limit on the number of Shares available for issue under the Share Option Scheme[175] - The exercise of options must occur within a period determined by the Board, but no later than 10 years from the date of grant[187] - The Company must allot the relevant number of Shares to the grantee within 21 days after receiving the exercise notice and the required payment[188] - The Share Option Scheme allows for the exercise of options without a specified minimum holding period or performance target, subject to the Directors' discretion[190] Financial Reporting - Ye Xing Group Holdings Limited's unaudited condensed interim consolidated financial statements cover the six-month period ended June 30, 2023[198] - The financial statements are prepared in accordance with Hong Kong Accounting Standard 34 "Interim Financial Reporting"[198] - The review of the financial information is conducted under Hong Kong Standard on Review Engagements 2410, which is less comprehensive than a full audit[200] - The directors are responsible for the preparation and presentation of the financial statements[199] - The report does not express an audit opinion due to the nature of the review conducted[200]

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，並明確表示概不就因本公告全 部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 Ye Xing Group Holdings Limited 燁 星 集 團 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1941） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 中 期 業 績 公 告 中期業績摘要 • 截至二零二三年六月三十日止六個月，本集團的總收益約為人民幣170.7 百萬元，較二零二二年同期的約人民幣172.1百萬元略減少約人民幣1.4百 萬元或約0.8%。截至二零二三年六月三十日止六個月，物業管理服務、 物業開發商相關服務及增值服務產生的收益分別約佔總收益的86.5%、 1.8%及11.7%。 • 物業管理服務分部產生的收益約人民幣147.7百萬元，同比略增加約1.6%。 於二零二三年六月三十日，總收益建築面積合共約12.1百萬平方米，與 於二零二二年十二月三十一日相約。 • 來自物業開發商相關服務的收益約人民幣3.1百萬元，同比減少約 ...

Corporate Governance - The company has established an Audit Committee to oversee financial reporting, risk management, and internal control systems, in compliance with Rule 3.21 of the Listing Rules [32]. - The Board consists of 44.4% Independent Non-Executive Directors (INEDs), ensuring a strong independent element in governance [16]. - The company has complied with all applicable code provisions under the Corporate Governance Code, except for the separation of the roles of chairman and chief executive officer [10]. - The company emphasizes a culture of openness and constructive relations between INEDs and other Directors to facilitate effective contributions [16]. - The Company has adopted a Director Nomination Policy to ensure a balance of skills, experience, and diversity of perspectives on the Board [60]. - The Nomination Committee considers relevant criteria for selecting suitable candidates for directorships to complement corporate strategy and achieve Board diversity [43]. - The Board consists of nine members, including four executive Directors, one non-executive Director, and four independent non-executive Directors [55]. - One-third of the Board members are female, achieving the target of gender diversity [55]. - The Group's senior management comprises five members, with one female, representing 20% of the senior management [58]. - The Nomination Committee reviewed the structure, size, and composition of the Board, ensuring a balance of diversity perspectives [46]. - The Company Secretary serves as the primary contact for corporate governance matters, ensuring effective communication between the Board and shareholders [76]. Financial Performance - The Group's results for the year ended December 31, 2022, are detailed in the consolidated statement of profit or loss, with no dividend recommended for the year [144]. - The company achieved a net profit margin of 12%, up from 10% in the previous year, reflecting better cost management [121]. - The overall operational efficiency improved by 10%, resulting in reduced costs and increased profitability [123]. - Customer retention rate reached 85%, indicating strong loyalty and satisfaction among existing clients [119]. - The company anticipates a revenue growth of 15% for the next fiscal year, driven by new project launches and market expansion strategies [120]. Risk Management - The Audit Committee assists the Board in overseeing the design, implementation, and monitoring of risk management and internal control systems [64]. - All departments conduct regular internal control assessments to identify risks impacting the business, including operational and financial processes [65]. - The financial risk management objectives and policies of the Group are outlined in note 29 to the consolidated financial statements [153]. - The Group maintains an acceptable level of liquidity to mitigate risks associated with cyclical downturns due to rapid market changes [164]. - Economic volatility, particularly due to the China-United States trade war and the COVID-19 pandemic, may reduce consumer spending power and affect property sales, impacting the Company's growth and profitability [164]. - The PRC government has implemented measures that may negatively impact property developers' financial positions and business operations, potentially affecting the Group's ability to obtain new property management engagements [160]. - Competition in the property management industry in China is intense, with competitors potentially having advantages such as stronger financial resources and broader geographic coverage [165]. Shareholder Engagement - The Company engages with shareholders through various communication channels to safeguard their interests and rights, ensuring separate resolutions for substantially separate issues at general meetings [86]. - All resolutions at general meetings will be voted on by poll, with results posted on the Company's and Stock Exchange's websites [86]. - The Company has adopted procedures for shareholders to put forward proposals at general meetings, ensuring transparency in the election process [88]. - The Company will not normally deal with verbal or anonymous enquiries from shareholders, emphasizing the importance of written communication [92]. - The Articles of Association and procedures for nominating Directors are available on the Company's website for shareholder reference [94]. - The Company has effectively implemented its Shareholders' Communication Policy to address shareholder views and concerns [140]. - The Company maintains ongoing communication with shareholders to enhance investor relations and understanding of business performance [136]. Project Management and Development - The Hongkun Ideal City project has a total area of 130,800 square meters and boasts a 100% occupancy rate since its completion in November 2010 [3]. - The Hongkun Financial Valley Industrial Park integrates modern service industries and emerging industries, adhering to "three-star" green building standards [8]. - The company is involved in project management of properties in Tianjin, Hebei Province, and Hainan Province in the PRC, overseen by Mr. Shuai Chuanyong [113]. - The company reported a significant increase in managed properties, with a total of 150 properties under management, representing a 20% growth year-over-year [116]. - The company plans to expand its market presence in Hebei Province, targeting an additional 30 properties by the end of the next fiscal year [125]. - A merger and acquisition strategy is in place, with a target to acquire at least two smaller property management firms within the next 12 months [126]. Use of Proceeds - The net proceeds from the listing amounted to approximately HK$129.4 million (equivalent to approximately RMB116.2 million) after deducting underwriting fees and relevant expenses [178]. - As of December 31, 2022, approximately RMB47.0 million, representing approximately 36.3% of the actual amount of net proceeds, was utilized for expansion of geographic presence and scale of operations in the PRC, including acquiring Jiangsu Wanhao [183]. - Approximately RMB2.3 million, representing approximately 1.8% of the actual amount of net proceeds, was utilized for development and enhancement of information systems and technological initiatives [183]. - Approximately RMB3.4 million, representing approximately 2.6% of the actual amount of net proceeds, was utilized for expansion of value-added services, including setting up a business development team [183]. - Approximately RMB1.0 million, representing approximately 1.0% of the actual amount of net proceeds, was utilized for staff development, including providing training to the sales team [183]. - Approximately RMB5.7 million, representing approximately 4.4% of the actual amount of net proceeds, was utilized for general working capital [183]. - The expected timeline for utilizing the unutilized proceeds is one year, subject to market conditions [189]. - The company plans to utilize the remaining proceeds in 2023 [188]. Management and Team - The company has a strong focus on business development and financial advice to listed companies, as indicated by the roles of its directors in various financial services firms [109]. - The board includes members with extensive experience in corporate finance and legal sectors, enhancing the company's governance and strategic direction [110]. - The company emphasizes quality control oversight and human resources management in its operations, particularly in property management [113]. - The company has a diverse management team with qualifications in business administration and law, contributing to its strategic initiatives [110]. - The management team is focused on expanding the company's market presence and enhancing operational efficiency through effective project management [113].

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，並明確表示概不就因本公告全 部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 Ye Xing Group Holdings Limited 燁 星 集 團 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1941） 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度 全 年 業 績 公 告 二零二二年業績摘要 • 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度，本 集 團 的 總 收 益 約 為 人 民 幣 343.5百萬元，較截至二零二一年十二月三十一日止年度的約人民幣336.8 百萬元增加約人民幣6.7百萬元或約2.0%。截至二零二二年十二月三十一 日止年度，物業管理服務、物業開發商相關服務及增值服務產生的收益 分別佔總收益的84.5%、5.5%及10.0%。 • 物業管理服務分部產生的收益較二零二一年增加約人民幣31.0百萬元或 約12.0%。在管建築面積增加約0.6百萬平方米至合共12.4百萬平方米。 • 來自物業開 ...