Employee Information - As of June 30, 2023, the Group had a total of 1,965 employees, an increase from 1,720 employees as of June 30, 2022[9] - Employee benefit expenses for the six months ended June 30, 2023, amounted to RMB 95.9 million, compared to RMB 80.6 million for the same period in 2022, reflecting a year-on-year increase of approximately 19.6%[9] Financial Performance - The profit for the period was approximately RMB 59.5 million, representing a 4.9% increase compared to the same period in 2022[62] - The profit attributable to the owners of the company was approximately RMB 50.9 million, an increase of 2.8% year-on-year[62] - The total comprehensive income for the period included a profit of RMB 49.5 million and currency translation differences of RMB 5.6 million, totaling RMB 55.0 million[39] - The company declared dividends of RMB 21 million to shareholders during the reporting period[39] - The profit for the period was RMB 50,858 thousand, contributing to a total comprehensive income of RMB 59,462 thousand for the first half of 2023[83] - Gross profit for the reporting period was approximately RMB 112.0 million, an increase of 5.9% compared to the same period in 2022[198] - Gross margin was 25.2%, a decrease of 3.2% compared to the same period in 2022[198] Revenue Breakdown - The Group's revenue from property management services was approximately RMB282.7 million, accounting for 63.5% of total revenue, representing a 26.0% increase compared to the same period in 2022[64] - Revenue from community value-added services reached approximately RMB74.3 million, an increase of 25.4% compared to approximately RMB59.2 million for the corresponding period in 2022[65] - Revenue from city services was approximately RMB28.4 million, reflecting a significant increase of 192.9% compared to approximately RMB9.7 million for the same period in 2022[65] - Revenue from value-added services to non-property owners was approximately RMB 59.6 million, representing a decrease of 24.4% compared to RMB 78.8 million for the same period in 2022, attributed to a shrinking real estate business[94] - Revenue from property management services was RMB 154,117 thousand for the six months ended June 30, 2023, compared to RMB 103,596 thousand in the same period of 2022[126] - Community value-added services revenue increased to RMB 10,354 thousand for the six months ended June 30, 2023, from RMB 5,728 thousand in the same period of 2022[126] Corporate Governance - The Group's management has committed to enhancing corporate governance practices to safeguard shareholder interests and improve accountability[14] - The management of each subsidiary is required to submit monthly performance reports to the Board as part of a rectification measure[14] Shareholder Information - As of June 30, 2023, Mr. Song Gewei held 498,750,000 shares, representing 71.25% of the company's equity interest[26] - The ultimate controlling entity of the Group is Hung Fai Property Limited, controlled by Mr. Song Gewei[134] Cash Flow and Financial Position - Cash and cash equivalents at the end of the period on June 30, 2023, were RMB 372,733 thousand, down from RMB 513,433 thousand at the end of June 30, 2022[127] - The Group's net cash used in financing activities for the six months ended June 30, 2023, was RMB 8,042 thousand, compared to RMB 2,774 thousand in the same period of 2022[127] - The Group's cash flows from financing activities included dividends paid of RMB 7,360 thousand for the six months ended June 30, 2023, compared to RMB 2,560 thousand in the same period of 2022[127] - The net cash generated from operating activities for the six months ended June 30, 2023, was RMB 4,296 thousand, a decrease of 47.3% compared to RMB 8,126 thousand for the same period in 2022[149] - Cash flows from investing activities generated RMB 30,370 thousand, a significant improvement compared to a cash outflow of RMB 33,220 thousand in the same period of 2022[149] Strategic Initiatives - The Group aims to enhance living experiences for property owners and residents through comprehensive community value-added services[65] - The Group aims to redefine urban living through smart technology and community engagement initiatives[161] - The Group has focused on three strategic directions: urban deep cultivation, commercial deep cultivation, and surrounding area cultivation, enhancing operational capacity[176] - The Group emphasizes the importance of quality service as the foundation for survival and growth in a challenging real estate market[171] - The Group has adopted a performance incentive system to encourage employees to work together towards expansion goals[176] Market Position and Recognition - The Group's overall industry strength ranking increased by two places to 27th in the "2023 China Top 100 Property Management Companies" by China Index Academy[64] - The Group was recognized for its effective improvement in business operations, particularly in non-residential property management services[64] - High-quality service has been recognized by cooperative property developers, extending the service industry chain to third-party property developers[176] Miscellaneous - The Group did not declare any interim dividend for the six months ended June 30, 2023[18] - The interim report was approved and signed by the board of directors on August 31, 2023[33] - The Group's interim financial information has not been audited, and it is presented in Renminbi (RMB) unless otherwise stated[149] - The Group's total assets were primarily located in the PRC as of June 30, 2023[121] - None of the Group's customers contributed 10% or more of the Group's revenue during the six months ended June 30, 2023[123] - The Group's revenue for the six months ended June 30, 2023, was derived entirely from operations in the PRC[121]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 Kangqiao Service Group Limited 康 橋 悅 生 活 集 團 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：2205） 截至2023 年6 月30 日止六個月之中期業績公告 財務摘要 1. 截至2023年6月30日止六個月的收入達約人民幣444.9百萬元，較2022年同期增長 19.6%。 2. 報告期內收入按業務範疇分佈如下：(i)物業管理服務收入為約人民幣282.7百萬 元，佔總收入63.5%，較2022年同期增長26.0%；(ii)非業主增值服務收入為約人 民幣59.6百萬元，佔總收入13.4%，較2022年同期下降了24.4%；(iii)社區增值 服務收入為約人民幣74.3百萬元，佔總收入16.7%，較2022年同期增長25.4%;及 (iv)城市服務收入為約人民幣28.4百萬元，佔總收入6.4%，較2022年同期增長 192.9%。 3. 報告期內 ...

Investment and Acquisitions - The Group plans to use part of the net proceeds from the global offering to acquire property management companies and professional service firms, and to collaborate with local urban investment companies or property developers through capital investments or joint ventures[4]. - As of December 31, 2022, the Group had no significant investments, material acquisitions, or disposals of subsidiaries, associates, and joint ventures[10]. - The Group agreed to pay approximately RMB 164.07 million for an 80% equity stake in Xi'an Lifeng Property Management Co., Ltd., with RMB 65.6 million paid as of December 31, 2022, and the acquisition is still pending completion[13]. Company Performance and Revenue - The Group's revenue for 2022 was approximately RMB 792.9 million, representing an increase of 1.2% compared to RMB 783.6 million in 2021[64]. - Profit for the Year was approximately RMB 65.7 million, a decrease of 25.8% from RMB 88.6 million in 2021[64]. - Profit attributable to the owners of the Company was approximately RMB 54.1 million, down 35.5% from RMB 83.9 million in 2021[64]. - Revenue from property management services reached approximately RMB 480.9 million, a growth of 37.1% from RMB 350.8 million in 2021, primarily due to business expansion and an increase in managed gross floor area[107]. - Revenue from value-added services to non-property owners was approximately RMB 151.5 million, representing a decrease of 51.4% compared to RMB 311.9 million in 2021, attributed to the shrinking real estate business under policy influences[117]. - Revenue from city services amounted to approximately RMB 26.5 million, accounting for 3.3% of the total revenue[120]. Operational Efficiency and Growth - The Group has improved per capita management area, net profit, and personnel cost rate compared to the same period in 2021, indicating enhanced operational efficiency[52]. - The Group's strategic expansion aims to enhance efficiency through urban and commercial deep cultivation, focusing on projects ready for delivery[51]. - The Group aims to expand its market presence through strategic growth in urban and non-residential sectors, including signing contracts for rail transit and sanitation services[76]. - The Group's total revenue for the year was approximately RMB 792.9 million, an increase of 1.2% compared to RMB 783.6 million in 2021[154]. Management and Talent Development - The proportion of internal talent training reached 68% in 2022, indicating a strong focus on talent development[55]. - The Group focused on enhancing operational efficiency, talent development, safety prevention, and corporate culture in 2022[76]. Digital Transformation - The implementation of a digital technology support system has laid a solid foundation for the Group's digital transformation over the next five years[58]. - The Digital Science Center developed a digital technology support system for better business management and cost control, laying a foundation for digital transformation[80]. Financial Position and Ratios - As of December 31, 2022, current assets amounted to approximately RMB 1,003.0 million, representing an increase of approximately 2.0% from RMB 983.7 million as of December 31, 2021[196]. - The Group's cash and cash equivalents were approximately RMB 345.9 million, a decrease of approximately 36.0% from RMB 540.8 million as of December 31, 2021, mainly due to the payment of refundable deposits for sales agency services[196]. - The current ratio as of December 31, 2022, was approximately 2.6, an increase of 5.6% from approximately 2.4 as of December 31, 2021[196]. - The asset-liability ratio as of December 31, 2022, was 35.3%, a decrease of 2.9% from 38.2% as of December 31, 2021[196]. - Trade and other receivables amounted to approximately RMB 598.9 million as of December 31, 2022, representing an increase of 42.7% from RMB 419.7 million as of December 31, 2021[196]. Community Engagement and Services - The Group's community activities cater to all age groups, enhancing neighborhood engagement and emotional connections[39]. - The Group aims to expand its non-residential property and city services product lines, focusing on three pillars: "Joyful Living," "Joyful Commercial Property Management," and "Joyful City Services" over the next five years[102]. Quality and Safety Standards - The Group emphasizes standardization and quality service, aiming to eliminate losses through digital assessment[50]. - The Group emphasizes safety, quality service, and standardization in its operations, ensuring a strong commitment to stakeholders[102].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容 概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失 承擔任何責任。 Kangqiao Service Group Limited 康 橋 悅 生 活 集 團 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號： 2205） 截至2022年12月31日止年度 之經審核全年業績公告 茲提述康橋悅生活集團有限公司（「本公司」）日期為2023年3月31日、2023年4月18日、 2023年4月25日、2023年5月31日及2023年6月30日的公告，內容有關（其中包括）(i)暫停 股份買賣；(ii)延遲刊發截至2022年12月31日止年度之全年業績及延遲寄發年度報告； (iii)核數師函件；及(iv)復牌指引（統稱「該等公告」）。除非另有界定外，本公告所用 詞義與該等公告所界定者具有相同涵義。 本公司董事（「董事」）會（「董事會」）謹此宣佈，2022年的全年業績的審核流程已完 成。董事會欣然宣佈，本公司已就與本公司及其附屬公司（「本集團」或「康橋悅生活」） 所載於本 ...

Business Performance - As of June 30, 2022, the Group's business contracts covered 31 cities in eight provinces, serving millions of property owners and winning over 200 awards[7]. - The Group ranked 29th among the Top 100 Property Service Companies in China in terms of overall strength in 2022[7]. - In the first half of the year, the gross profit of all major sectors increased, indicating improved financial performance[21]. - Revenue for the six months ended June 30, 2022, was approximately RMB 372.0 million, representing a decrease of 6.4% compared to the corresponding period in 2021[65]. - Profit for the Reporting Period was approximately RMB 56.7 million, representing an increase of 3.5% compared to the corresponding period in 2021[75]. - Profit attributable to owners of the Company was approximately RMB 49.5 million, representing a decrease of 3.5% compared to the corresponding period in 2021[75]. - The Group's revenue was approximately RMB372.0 million, a decrease of 6.4% compared to approximately RMB397.4 million for the corresponding period in 2021[84][85]. - The Group's financial performance reflects the challenges faced in the real estate market, necessitating strategic adjustments to adapt to changing conditions[113]. Revenue Breakdown - Revenue from property management services was approximately RMB 224.3 million, accounting for 60.3% of total revenue, representing an increase of 38.0% compared to the corresponding period in 2021[67]. - Revenue from value-added services to non-property owners was approximately RMB 78.8 million, accounting for 21.2% of total revenue, representing a decrease of 54.3% compared to the corresponding period in 2021[67]. - Revenue from community value-added services was approximately RMB 59.2 million, accounting for 15.9% of total revenue, representing a decrease of 5.1% compared to the corresponding period in 2021[67]. - Revenue from city services was approximately RMB 9.7 million, accounting for 2.6% of total revenue[67]. - Revenue from value-added services to non-property owners decreased by 54.3% to approximately RMB 78.8 million, down from RMB 172.4 million in the corresponding period of 2021, primarily due to the shrinking real estate business influenced by policies[122]. Operational Strategy - The Group's three product lines—residential business, non-residential business, and city services—have been established with clear service positioning and standards[21]. - The Group focuses on enhancing service quality through standardization, branding, and digital assessment to eliminate losses[21]. - The Group aims to redefine urban life by leveraging smart technology and participating deeply in urban services[11]. - The Group's strategic layout planning is supported by a focus on asset operation and product premium for "big owners"[21]. - The Group aims to expand its non-residential property and city services business lines, focusing on balanced development across "Joyful Living," "Joyful Commercial Property Management," and "Joyful City Service"[109]. - The Group's strategy includes deep cultivation of vertical industry sectors to create a service ecology centered around people[109]. Employee and Talent Management - The proportion of internal talent training reached 67.24% in the first half of 2022, reflecting the company's commitment to talent development and management[33]. - The Group had a total of 1,720 employees, with employee benefit expenses amounting to RMB80.6 million for the six months ended June 30, 2022, down from RMB89.0 million for the same period in 2021[170]. - The Group's employee count decreased from 1,803 as of June 30, 2021, to 1,720 as of June 30, 2022[170]. - The Group's recruitment strategy includes online recruitment, job fairs, and campus recruitment to attract talented employees[170]. Financial Health - As of June 30, 2022, cash and cash equivalents amounted to RMB513.4 million, a slight decrease from RMB540.8 million as of December 31, 2021[149]. - The current ratio as of June 30, 2022, was 2.5, an increase from 2.4 as of December 31, 2021[149]. - The asset-liability ratio was 37.0% as of June 30, 2022, down from 38.2% as of December 31, 2021[149]. - Trade and other receivables and prepayments increased to RMB525.6 million, an 8.1% increase from RMB486.4 million as of December 31, 2021[151]. - Trade and other payables remained stable at RMB248.7 million as of June 30, 2022, compared to RMB250.0 million as of December 31, 2021[151]. Corporate Governance - The Group is committed to maintaining high standards of corporate governance and has complied with all applicable principles under the Corporate Governance Code during the reporting period[173]. - The Audit Committee confirmed compliance with all applicable accounting principles and standards for the interim financial information for the six months ended June 30, 2022[183]. - The Company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers as the code for dealing in the securities of the Group[177]. - The Company has complied with all applicable principles and code provisions under the Corporate Governance Code during the Reporting Period[178]. - The Company will continue to review and monitor its corporate governance practices to ensure compliance with the Corporate Governance Code[178].

Business Expansion and Market Presence - As of December 31, 2021, Kangqiao Service's business contracts covered 31 cities across eight provinces, indicating significant geographical expansion[7] - Kangqiao Service has successfully expanded into high-end office buildings in Wuxi and commercial projects in Lishui, showcasing its growth in economically developed provinces[7] - The company operates multiple subsidiaries to leverage local advantages for independent brand operations and business expansion[7] - The Group has expanded its business into key regions outside Henan, including Zhejiang, Jiangsu, Hubei, Hebei, Guangdong, Shandong, and Shaanxi[57] - The company plans to enhance its business penetration in Xi'an through the acquisition of 80% equity in Xi'an Lifeng Property Management Co., Ltd.[37] Financial Performance - In 2021, Kangqiao Service's annual revenue reached approximately RMB783.6 million, exceeding the target[32] - The Group's revenue for 2021 was approximately RMB 783.6 million, representing a 36.1% increase compared to RMB 575.6 million in 2020[53] - Profit for the Year was approximately RMB 88.6 million, a decrease of 3.5% from RMB 91.8 million in 2020; adjusted profit excluding listing expenses was approximately RMB 102.6 million, an increase of 4.5% from RMB 98.2 million in 2020[53] - Revenue from property management services amounted to RMB350.8 million, a 37.6% increase from RMB255.0 million in 2020[87] - The Group's cost of sales was approximately RMB579.7 million, an increase of 45.3% compared to RMB399.0 million in 2020[95] Revenue Sources and Growth - Value-added revenue from non-owners amounted to approximately RMB 311.9 million, representing 39.8% of total revenue[42] - Community value-added service revenue was approximately RMB 120.9 million, accounting for 15.4% of total revenue[42] - The Group's revenue from value-added services to non-property owners was approximately RMB 311.9 million, reflecting a 32.5% increase from RMB235.4 million in 2020[88] - Community value-added services generated revenue of approximately RMB120.9 million, marking a 41.8% increase from RMB85.2 million in 2020[91] Operational Efficiency and Management - The company focused on improving operational efficiency through a self-developed "service satisfaction management system" to enhance customer satisfaction[43] - The Group's management emphasizes the importance of adjusted profit to better reflect operational performance by excluding non-recurring listing expenses[56] - The Group aims to enhance its business capacity through digitalization and strategic innovation, focusing on long-term value creation[76] - The Group's development strategy was adjusted in response to the new situation in the real estate industry, focusing on enhancing operational efficiency[61] Awards and Recognition - Kangqiao Service has served millions of property owners and has won over 200 awards, ranking 37th among the Top 100 Property Service Companies in China in 2021[6] - The company was recognized with several honorary titles, including "2021 Advanced Enterprise in Property Service Industry" and "2021 Leading Enterprise with Quality Property Service in Henan"[31] - The Group was awarded the title of "2021 China Top 100 Property Management Companies," with its overall industry strength ranking increasing by five places to 37th compared to 2020[65] Strategic Initiatives and Future Plans - The new three-year strategic plan aims to position the Group as an excellent life and smart city service operator[50] - The company aims to expand its market presence and enhance operational efficiency through strategic planning and management initiatives led by its experienced directors[152][160] - The Group intends to utilize part of the net proceeds from the global offering to acquire property management and professional service companies, and to cooperate with local municipal investment companies or property developers[142] Leadership and Management Team - Mr. Song Gewei has approximately 20 years of experience in the PRC real estate industry and has been responsible for the overall business direction and strategic planning since the company's establishment in August 2010[152] - The executive team collectively brings a wealth of experience from various sectors within the real estate and property management industries, enhancing the company's strategic capabilities[156][160] - The company has established a strong foundation for future growth with a focus on strategic planning and operational excellence[152][160] Financial Position and Assets - As of December 31, 2021, current assets increased by 15.2% to approximately RMB983.7 million from RMB854.2 million in 2020, with cash and cash equivalents rising by 301.3% to approximately RMB540.8 million[123] - The Group maintained a strong financial position with a current ratio of approximately 2.4, up 42.5% from 1.7 in 2020, and an asset-liability ratio of 38.2%, down 43.3% from 81.5%[123] - As of December 31, 2021, trade and other receivables amounted to approximately RMB486.4 million, a decrease of 32.4% from RMB719.5 million as of December 31, 2020, due to enhanced efforts in recovering outstanding receivables[128] Community Engagement and Social Responsibility - Kangqiao Service actively participated in disaster relief efforts during the "7.20" heavy rainstorm disaster in Zhengzhou, earning social appreciation[28] - The company’s efforts in combating the COVID-19 pandemic were recognized, contributing to the resumption of social operations[31] - The Group's community operation services included managing community spaces and optimizing public resource utilization, contributing to improved living experiences for residents[74]