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 ...

Financial Performance - Revenue for the six months ended June 30, 2022, was RMB 172,147,000, representing an increase from RMB 159,461,000 in the same period of 2021, which is a growth of approximately 7.6%[16] - Gross profit for the same period was RMB 49,086,000, down from RMB 52,147,000 in 2021, indicating a decrease of about 5.4%[16] - Net profit decreased significantly to RMB 9,356,000 from RMB 27,210,000 in 2021, reflecting a decline of approximately 65.6%[16] - Earnings per share (basic) dropped to 2.29 RMB cents from 6.70 RMB cents, a decrease of about 65.8%[16] - Total revenue for the six months ended June 30, 2022, was RMB 172,147,000, an increase from RMB 159,461,000 in the same period of 2021, representing an 8.6% growth[21] - The realized gross profit for the same period was approximately RMB 49.1 million, reflecting a slight decrease of about 5.8% year-on-year[47] - The total profit and other comprehensive income amounted to approximately RMB 9.4 million, representing a decrease of approximately 65.4% compared to the corresponding period in 2021[47] - For the six months ended June 30, 2022, the net profit was approximately RMB 9.4 million, a decrease of about RMB 17.8 million or 65.4% compared to RMB 27.2 million for the same period in 2021[146] Revenue Breakdown - Revenue from property management services was RMB 145,385,000, up from RMB 122,516,000 year-over-year, indicating a 18.6% increase[21] - Revenue from value-added services reached RMB 18,513,000, slightly up from RMB 17,091,000 in the previous year, a growth of 8.3%[21] - Revenue from property developer related services decreased to RMB 8,249,000 from RMB 19,854,000, a decline of 58.5% year-over-year[21] - Revenue from residential property management services was approximately RMB116.2 million, up by approximately RMB27.2 million or 30.6% year-on-year[96] - Revenue from non-residential property management services was approximately RMB29.2 million, a decrease of about RMB4.3 million or 12.8% compared to the same period in 2021[96] - Revenue from sales assistance services for the six months ended June 30, 2022, was approximately RMB7.0 million, representing a decrease of approximately RMB3.1 million or about 30.7% compared to the corresponding period in 2021[112] - Revenue from pre-delivery cleaning and preparation services for the six months ended June 30, 2022, was approximately RMB0.2 million, representing a decrease of approximately RMB2.2 million or about 91.7% compared to the corresponding period in 2021[112] Strategic Focus and Future Outlook - The company is focusing on expanding its market presence and enhancing product offerings to drive future growth[16] - New product development initiatives are underway, aimed at improving competitive positioning in the market[16] - The company plans to explore potential mergers and acquisitions to accelerate growth and market expansion[16] - Future guidance indicates a cautious outlook due to market conditions but aims for gradual recovery in performance[16] - The management emphasizes the importance of operational efficiency to mitigate the impact of rising costs and market challenges[16] - The interim report indicates a strategic emphasis on improving operational efficiency and exploring new market opportunities[21] - The company plans to invest in technology development to enhance service offerings and operational capabilities[21] - The Group intends to expand market share and penetrate new markets by leveraging successful experiences in the Beijing-Tianjin-Hebei Region and optimizing resource allocation for investment and expansion[70] Operational Efficiency and Management - User data and engagement metrics are being closely monitored to inform strategic decisions moving forward[16] - The company plans to enhance its internal management system and intelligent management platform to improve operational efficiency and service quality[61] - The Group aims to strengthen green management practices, implementing detailed plans for energy conservation, pollution prevention, and community environmental health[83] - The Group plans to enhance user satisfaction and service quality by maintaining high standards and improving digital management systems[84] - The company continues to invest in resource allocation to develop value-added services, contributing to the increase in service costs[132] Assets and Liabilities - Total assets as of June 30, 2022, amounted to RMB 509,475,000, compared to RMB 469,568,000 as of December 31, 2021, reflecting an 8.5% increase[23] - Total liabilities increased to RMB 235,474,000 as of June 30, 2022, from RMB 204,999,000 at the end of 2021, marking a 14.8% rise[23] - Total equity as of June 30, 2022, was RMB 274,001,000, up from RMB 264,569,000 at the end of 2021, showing a 3.4% increase[23] - The current ratio as of June 30, 2022 was 1.8, slightly down from 1.9 as of December 31, 2021[146] - The liabilities to assets ratio remained stable at 0.46 as at June 30, 2022 compared to 0.44 as at December 31, 2021[174] Investments and Acquisitions - The net proceeds from the Listing amounted to approximately RMB116.2 million, higher than initially stated due to a higher final issue price and lower underwriting fees[181] - Approximately RMB47.0 million, representing 36.3% of the actual net proceeds, was utilized for geographic expansion and operations in the PRC, including the acquisition of Jiangsu Wanhao[193] - The Group adopted a cautious approach towards acquisition evaluations due to increased uncertainty in acquisition pricing in the property management industry[194] - As of June 30, 2022, the Group did not have any significant acquisitions or disposals of subsidiaries, associates, or joint ventures[195] - The Group did not have any major investments as of June 30, 2022[196]

Financial Performance - Total revenue for the year ended December 31, 2021, was RMB 336,828,000, representing an increase of 28.8% from RMB 261,405,000 in 2020[18]. - Gross profit for 2021 was RMB 89,630,000, up from RMB 63,478,000 in 2020, indicating a growth of 41.2%[18]. - Net profit for the year was RMB 31,207,000, compared to RMB 20,762,000 in 2020, reflecting an increase of 50.3%[18]. - Basic earnings per share rose to 7.58 RMB cents in 2021 from 5.40 RMB cents in 2020, marking a growth of 40.4%[18]. - The gross profit margin and net profit margin in 2021 were 26.6% and 9.3%, respectively, both showing improvements from the previous year by 2.3 and 1.4 percentage points[80]. - The total profit and other comprehensive income amounted to approximately RMB 31.2 million, representing an increase of approximately 50.0% compared to 2020[80]. Revenue Breakdown - Revenue from property management services accounted for 77.0% of total revenue, amounting to RMB 259.2 million, which is an increase of approximately RMB 67.3 million or about 35.1% year on year[106][113]. - Revenue from residential properties increased by approximately RMB 64.4 million or approximately 49.2%, mainly due to contributions from newly delivered residential property projects[113]. - Revenue from value-added services increased significantly by approximately RMB 10.3 million or about 43.1% from approximately RMB 23.9 million for the year ended December 31, 2020 to approximately RMB 34.2 million for the year ended December 31, 2021[145]. - Revenue from property developer related services decreased by approximately RMB 2.3 million, or about 5.0%, from RMB 45.7 million in 2020 to RMB 43.4 million in 2021[125]. Market Expansion and Strategic Initiatives - The company plans to expand its market presence and invest in new product development to drive future growth[16]. - The company continues to explore market expansion opportunities and enhance its service offerings through strategic acquisitions and partnerships[45]. - The company aims to expand its national layout through acquisitions, including Jiangsu Wanhao and Jiangxi Changzheng Hospital project, covering major metropolitan areas[61]. - The Group aims to expand its market share by focusing on urban area strategies, including the Beijing-Tianjin-Hebei region and the Guangdong-Hong Kong-Macao Greater Bay Area, through acquisitions and partnerships[96][97]. Governance and Management - The company has appointed new directors and auditors to enhance governance and oversight[12][13]. - The management discussion will provide insights into strategic initiatives and operational efficiencies implemented during the year[16]. - The company emphasizes the development of human resources, establishing a complete system for talent selection, training, and incentives to enhance service quality[68]. Assets and Liabilities - Total assets as of December 31, 2021, reached RMB 469,568,000, an increase from RMB 427,801,000 in 2020, reflecting a growth of about 9.7%[23]. - Total liabilities increased to RMB 204,999,000 in 2021 from RMB 194,439,000 in 2020, representing a rise of about 5.4%[23]. - Trade and other receivables increased by approximately RMB 71.6 million or about 192.5% from approximately RMB 37.2 million as of December 31, 2020, to approximately RMB 108.8 million as of December 31, 2021, mainly due to the growth in trade receivables[183]. Operational Efficiency - The company aims to leverage technological advancements to improve service delivery and customer engagement[16]. - The company outsourced cleaning, gardening, equipment maintenance, site security services, and car park management to independent third-party subcontractors to enhance operational efficiency[150]. - The Group is committed to continuous service quality improvement and aims to establish a standardized service process to enhance customer satisfaction[101][104].

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Financial Performance - Revenue for the six months ended June 30, 2020, was RMB 139,819,000, representing an increase of 6% from RMB 130,991,000 in 2019[23] - Gross profit for the same period was RMB 54,560,000, up from RMB 47,645,000, indicating a growth of 14%[23] - Net profit, excluding listing expenses, reached RMB 30,051,000, compared to RMB 12,943,000 in 2019, reflecting a significant increase of 132%[23] - Earnings per share (basic) improved to 8.28 RMB cents, compared to 5.23 RMB cents in the previous year, marking a rise of 58%[23] - For the six months ended June 30, 2020, the Group achieved revenue of approximately RMB 139.8 million, an increase of approximately 6.7% compared to the same period in 2019[45] - The Group realized a gross profit of approximately RMB 54.6 million, marking an increase of approximately 14.5% year-on-year[45] - The net profit for the same period was approximately RMB 30.1 million, reflecting a significant increase of approximately 132.2% compared to the previous year[45] - The core net profit, excluding listing expenses, was approximately RMB 34.9 million, an increase of approximately 47.8% year-on-year[45] Assets and Liabilities - Total assets as of June 30, 2020, were RMB 424,270,000, a substantial increase from RMB 247,411,000 at the end of 2019[27] - Total liabilities increased to RMB 181,619,000 from RMB 171,350,000, showing a rise of 6%[27] - Total equity surged to RMB 242,651,000, up from RMB 76,061,000, indicating a growth of 219%[27] - The current ratio improved to 2.3 as of June 30, 2020, compared to 1.4 as of December 31, 2019[112] - The liabilities to assets ratio remained stable at 0.43 as of June 30, 2020, compared to 0.69 as of December 31, 2019[137] Revenue Breakdown - Revenue from property management services was RMB 93,402,000, slightly up from RMB 91,130,000 in 2019[26] - Value-added services revenue increased significantly to RMB 14,194,000 from RMB 7,614,000, representing an increase of 86%[26] - Revenue from property developer related services was approximately RMB 32.2 million, contributing 23.1% to total revenue, showing stability compared to RMB 32.2 million in 2019[66] - Revenue from residential properties increased by approximately RMB 6.5 million or about 11.8%, while revenue from non-residential properties decreased by approximately RMB 4.2 million or about 11.6%[68] - Revenue from value-added services increased by approximately RMB 6.6 million or 86.4% to approximately RMB 14.2 million for the six months ended June 30, 2020, driven by a RMB 3.3 million increase in home living services revenue[87][88] Operational Metrics - As of June 30, 2020, the Group's contracted gross floor area (GFA) was approximately 8.3 million square meters, an increase of approximately 15.0% year-on-year[46] - The total revenue-bearing GFA under management exceeded 5.6 million square meters, marking an increase of approximately 19.6% compared to June 30, 2019[46] - The number of managed residential property projects was 24, with a total revenue-bearing GFA of 4.5 million square meters, accounting for approximately 81.1% of total revenue-bearing GFA[46] - The number of properties managed increased to 43, up from 34 in the previous year, indicating a growth of approximately 26.5%[52] Strategic Focus - The company is focused on expanding its service offerings and enhancing operational efficiency to drive future growth[22] - The Group plans to focus on development opportunities in key regions such as Beijing-Tianjin-Hebei, Yangtze River Delta, and Pearl River Delta to achieve rapid growth in revenue and profits[58] - The Group aims to enhance the proportion of value-added services, which contributed 10.1% to total revenue, increasing from 5.8% in the previous year[66] - The Group's strategy includes counter-trend expansion while maintaining stable growth in performance despite the economic pressures from the COVID-19 pandemic[57] Corporate Governance - The Company has complied with all applicable code provisions under the Corporate Governance Code, except for a deviation from code provision A.2.1[180] - The roles of chairman and chief executive officer are currently held by the same individual, Ms. Wu Guoqing, which the Board believes provides strong leadership[181] - The Company aims to separate the roles of chairman and chief executive officer in the long term when suitable candidates are identified[184] - The Company has established a corporate governance framework and policies based on the Corporate Governance Code[179] Employee and Administrative Information - The staff cost for the six months ended June 30, 2020, was approximately RMB21.9 million[167] - As of June 30, 2020, the Group had 816 employees[167] - Administrative expenses rose by approximately RMB 1.4 million or 9.4% to approximately RMB 15.7 million for the six months ended June 30, 2020, mainly due to increased headcount and average salaries[103] Other Financial Information - Other income for the six months ended June 30, 2020, amounted to approximately RMB 6.4 million, primarily from interest income of approximately RMB 5.9 million[104] - Income tax expense for the six months ended June 30, 2020, was approximately RMB 9.1 million, compared to RMB 8.7 million for the same period in 2019[105] - The Group did not have any significant acquisitions or disposals during the six months ended June 30, 2020[158] - No dividend was declared by the Board for the six months ended June 30, 2020[164]

Financial Performance - Revenue for the year ended December 31, 2019, was RMB 273,580,000, representing an increase of 8.9% from RMB 251,177,000 in 2018[11] - Gross profit for 2019 was RMB 94,477,000, up from RMB 81,726,000 in 2018, indicating a growth of 15.5%[11] - Net profit decreased to RMB 25,878,000 in 2019 from RMB 37,221,000 in 2018, reflecting a decline of 30.5%[11] - Core profit, excluding the effect of listing expenses, was RMB 41,632,000, compared to RMB 37,221,000 in 2018, showing an increase of 11.5%[11] - Earnings per share (basic) for 2019 was 9.44 RMB cents, down from 15.54 RMB cents in 2018, a decrease of 39.5%[11] - The gross profit margin and net profit margin in 2019 were 34.5% and 15.2%, respectively, marking an increase of 2.0 percentage points and 0.4 percentage points compared to 2018[61] - For the year ended December 31, 2019, the company's total revenue was approximately RMB 273.6 million, representing an increase of approximately RMB 22.4 million or about 8.9% compared to RMB 251.2 million for the year ended December 31, 2018[77] Assets and Liabilities - Total assets as of December 31, 2019, were RMB 247,411,000, a decrease from RMB 260,312,000 in 2018[14] - Total liabilities decreased slightly to RMB 171,350,000 in 2019 from RMB 172,710,000 in 2018[14] - Total equity as of December 31, 2019, was RMB 76,061,000, down from RMB 87,602,000 in 2018, indicating a decline of 13.2%[14] - The liabilities to assets ratio remained stable at 0.66 for the year ended December 31, 2018, and increased to 0.69 for the year ended December 31, 2019[166] Revenue Breakdown - Revenue from property management services was RMB 189,138,000 in 2019, an increase of 11.7% from RMB 169,301,000 in 2018[14] - Revenue from value-added services rose to RMB 20,569,000 in 2019, up from RMB 19,389,000 in 2018, reflecting a growth of 6.1%[14] - Revenue from property management services, property developer related services, and value-added services contributed 69.1%, 23.4%, and 7.5% to the total revenue, respectively[80] - Revenue from residential properties increased by approximately RMB 9.8 million or about 9.6%, while non-residential properties saw an increase of approximately RMB 10.0 million or about 15.0%[88] Geographic Expansion and Market Presence - The company has established branches in Shanghai and Foshan, marking its entry into these markets[22][24] - The company aims to expand into five targeted cities: Shanghai, Taiyuan, Foshan, Zhengzhou, and Wuxi[38] - The company plans to focus on development opportunities in the Beijing-Tianjin-Hebei, Yangtze River Delta, and Pearl River Delta regions to achieve rapid growth in revenue and profits[56] - The company’s property management services revenue by geographic coverage indicates that the Beijing-Tianjin-Hebei region accounted for 90.6% of total revenue, amounting to RMB 171.413 million[98] Operational Efficiency and Strategy - The company has implemented various pandemic prevention measures to ensure the safety and well-being of property owners and residents[51] - The company has established a complete system for talent selection, training, evaluation, and promotion to enhance service quality[43] - The company has a strategic model of "Service + Six Ecosystems" to enhance customer experience[37] - The company outsourced cleaning, gardening, equipment maintenance, and site security services to independent third-party subcontractors to enhance operational efficiency[124] Future Plans and Investments - The net proceeds from the listing and the exercise of the over-allotment option amounted to approximately RMB116.2 million, which will be utilized for geographic expansion, information system development, and staff development[166] - Geographic expansion of property management services in the PRC is planned to utilize approximately HKD 61.3 million, accounting for 65.0% of the net proceeds[170] - Development and enhancement of information systems and technological initiatives are planned to utilize approximately HKD 12.9 million, accounting for 13.0% of the net proceeds[170] - Expansion of value-added services is planned to utilize approximately HKD 4.7 million in 2020 and HKD 5.2 million in 2021[170]