Financial Performance - Ronshine Service reported a revenue of HKD 1.2 billion for the first half of 2024, representing a 15% increase compared to the same period last year[1]. - The company achieved a net profit of HKD 300 million, which is a 20% increase year-over-year[1]. - The company has provided a revenue guidance of HKD 2.5 billion for the second half of 2024, expecting a 10% growth compared to the first half[1]. - The group's revenue for the six months ended June 30, 2024, was RMB 425.1 million, a decrease of approximately 3.0% compared to RMB 438.0 million in the previous period[10]. - Total revenue decreased by approximately 3.0% to about RMB 425.1 million from approximately RMB 438.0 million in the previous period[22]. - The company reported a net loss of RMB 113,626 thousand for the first half of 2024, compared to a profit of RMB 12,585 thousand in the same period of 2023[64]. - The company recorded a loss before tax of approximately RMB 150.4 million for the reporting period, compared to a profit of RMB 18.5 million in the previous period[34]. - The net loss for the period was RMB 113,626,000, compared to a profit of RMB 12,585,000 in the same period last year[59]. - Basic and diluted loss per share was RMB (0.22), compared to earnings of RMB 0.02 per share in the previous year[59]. Revenue Breakdown - Property management service revenue increased by approximately 2.9% year-on-year to RMB 357.8 million, accounting for about 84.2% of total revenue[10]. - Non-owner value-added service revenue decreased by approximately 37.6% to RMB 40.9 million, representing about 9.6% of total revenue[10]. - Community value-added services accounted for approximately 6.2% of total revenue, generating about RMB 26.3 million, a 6.1% increase from RMB 24.8 million as of June 30, 2023[13]. - Revenue from community shopping services decreased by approximately 26.2% to RMB 6.1 million, while revenue from renovation and decoration services increased by approximately 234.6% to RMB 10.9 million[13]. - Property management services revenue was RMB 357.8 million, a 2.9% increase from the previous period's RMB 347.7 million[22]. - Non-owner value-added services revenue decreased significantly to RMB 40,914 thousand in 2024 from RMB 65,530 thousand in 2023, a decline of approximately 37.6%[71]. Cost and Expenses - Operational costs have been reduced by 5% due to improved efficiency measures implemented in the first half of 2024[1]. - Gross profit decreased by approximately 4.5% to about RMB 80.4 million, with a gross margin of 18.9%, down from 19.2% in the previous period[24]. - Total expenses for the six months ended June 30, 2024, were RMB 380,267 thousand, a slight decrease from RMB 389,449 thousand in 2023, reflecting a reduction of about 2.8%[78]. - Employee benefits expenses for the six months ended June 30, 2024, were RMB 209,454 thousand, slightly up from RMB 206,387 thousand in 2023, indicating a growth of about 0.5%[79]. - Sales and marketing expenses increased by approximately 23.9% to about RMB 1.2 million, attributed to increased marketing activities as the market recovered[27]. - Administrative expenses decreased by approximately 0.8% to about RMB 34.4 million from RMB 34.7 million in the previous period, due to effective cost control measures[28]. Assets and Liabilities - The total assets as of June 30, 2024, were RMB 1,154.4 million, a decrease of 11.1% from RMB 1,298.0 million[9]. - The total liabilities were RMB 555.6 million, down 4.9% from RMB 585.6 million[9]. - The total equity decreased by 15.9% to RMB 598.8 million from RMB 712.4 million[9]. - Trade receivables as of June 30, 2024, amounted to approximately RMB 2.83 billion, a decrease of about 16.5% from RMB 3.39 billion as of December 31, 2023[37]. - Current assets net value as of June 30, 2024, was approximately RMB 500.6 million, down 15.1% from RMB 660.1 million as of December 31, 2023[39]. - The current ratio as of June 30, 2024, was 2.2, slightly down from 2.4 as of December 31, 2023[40]. - The debt-to-equity ratio as of June 30, 2024, was 0.3%, down from 0.7% as of December 31, 2023[41]. Strategic Initiatives - Ronshine Service is focusing on expanding its market presence in the Yangtze River Delta region, targeting a 30% increase in market share by 2025[1]. - The company is investing HKD 100 million in new technology development aimed at enhancing service efficiency and customer experience[1]. - A new product line is set to launch in Q4 2024, projected to contribute an additional HKD 200 million in revenue[1]. - The company plans to increase its workforce by 15% to support its expansion strategy and new product development[1]. - The company plans to deepen its core areas through strategic investments and acquisitions to enhance competitiveness in regions like the Haixi and Yangtze River Delta[14]. - The "1+N" development strategy will continue to expand value-added services, with "1" representing traditional property management and "N" representing non-owner value-added services[15]. Impairment and Provisions - Financial asset impairment losses increased by approximately 494.5% to about RMB 196.0 million due to impairment testing on trade receivables and other receivables[30]. - The expected credit loss (ECL) provision for trade receivables aged over 3 years is set at 100%[31]. - As of June 30, 2024, the ECL impairment for related party receivables is approximately RMB 147 million, including RMB 123 million for trade receivables[32]. - The provision for impairment of trade receivables rose significantly to RMB 215,027,000 as of June 30, 2024, from RMB 117,619,000 as of December 31, 2023, indicating a 82.9% increase[87]. - The provision for impairment of other receivables increased to RMB 127,886,000 as of June 30, 2024, from RMB 29,333,000 as of December 31, 2023, marking a significant increase of 335.5%[86]. Corporate Governance and Compliance - The company has complied with corporate governance codes during the reporting period[51]. - The audit committee has reviewed and approved the interim results, ensuring compliance with applicable accounting standards[57]. - The company has announced the resignation of its auditor, Kaiyuan Xinde CPA Limited, effective August 30, 2024[58]. - The company did not declare any interim dividend for the reporting period, consistent with the previous period[56]. - Major shareholders include Mr. Ou Zonghong and HSBC International Trustee Limited, each holding 375,000,000 shares, representing 73.80% of the total shares[54]. Employee and Training - The group employed a total of 4,990 full-time employees as of June 30, 2024, down from 5,342 employees as of December 31, 2023[47]. - The group has implemented systematic and specialized training programs for employees to enhance work efficiency[47]. - Key management compensation for the six months ended June 30, 2024, was RMB 1,001 thousand, an increase of 18.0% from RMB 848 thousand in the same period of 2023[104].

Financial Performance - The total revenue for the six months ended June 30, 2024, was approximately RMB 425.1 million, a decrease of about 3.0% compared to RMB 438.0 million for the same period in 2023[2]. - Revenue from property management services was approximately RMB 357.8 million, accounting for about 84.2% of total revenue, an increase of approximately 2.9% year-on-year[2]. - The gross profit for the reporting period was approximately RMB 80.4 million, a decrease of about 4.5% from RMB 84.3 million in the same period of 2023, resulting in a gross margin of approximately 18.9%[2][3]. - The loss for the reporting period was approximately RMB 113.6 million, representing a significant increase of about 1,003% compared to a profit of RMB 12.6 million in the same period of 2023[2][3]. - Basic and diluted loss per share for the reporting period was RMB 0.22, compared to earnings of RMB 0.02 per share in the same period of 2023[3]. - The group reported a net loss attributable to owners of the company of RMB (113,626,000) for the six months ended June 30, 2024, compared to a profit of RMB 12,585,000 in 2023[15]. - The group recorded a loss before tax of approximately RMB 150.4 million, compared to a profit before tax of RMB 18.5 million in the same period last year[45]. - The actual income tax expense for the period was negative RMB 36.7 million, reflecting a significant increase in deferred tax liabilities[46]. Assets and Liabilities - Total assets as of June 30, 2024, were approximately RMB 1,154.4 million, a decrease from RMB 1,298.0 million as of December 31, 2023[4][5]. - Total liabilities as of June 30, 2024, were approximately RMB 555.6 million, down from RMB 585.6 million as of December 31, 2023[5]. - The company’s equity attributable to owners was approximately RMB 598.8 million, a decrease from RMB 712.4 million as of December 31, 2023[4]. - As of June 30, 2024, trade receivables amounted to RMB 498,007,000, an increase from RMB 456,678,000 as of December 31, 2023, representing a growth of approximately 9.0%[19]. - The provision for impairment of trade receivables increased significantly to RMB 215,027,000 as of June 30, 2024, compared to RMB 117,619,000 as of December 31, 2023, indicating a rise of approximately 82.9%[19]. - As of June 30, 2024, the company's trade receivables amounted to approximately RMB 283.0 million, a decrease of about RMB 56.1 million or approximately 16.5% compared to RMB 339.1 million as of December 31, 2023, primarily due to the weak performance of the real estate sector and extended settlement periods[47]. - The company's total current liabilities decreased by approximately 4.9% to RMB 555.0 million as of June 30, 2024, from RMB 583.3 million as of December 31, 2023[49]. Revenue Breakdown - Revenue from property management services for the six months ended June 30, 2024, was approximately RMB 357.8 million, a year-on-year increase of about 2.9% from RMB 347.7 million for the same period in 2023[24]. - Non-owner value-added services revenue increased to RMB 40,914,000 for the six months ended June 30, 2024, compared to RMB 24,815,000 in 2023, marking a growth of approximately 64.5%[11]. - Community value-added services revenue rose to RMB 26,318,000 for the six months ended June 30, 2024, up from RMB 8,222,000 in 2023, reflecting a growth of approximately 220%[11]. - Non-owner value-added services accounted for approximately 9.6% of total revenue, with revenue of RMB 40.9 million, a year-on-year decrease of about 37.6% compared to RMB 65.5 million in the same period of 2023[26]. - Community value-added services contributed approximately 6.2% to total revenue, with earnings of RMB 26.3 million, an increase of about 6.1% from RMB 24.8 million as of June 30, 2023[27]. - The revenue from co-marketing services reached approximately RMB 8.3 million, a year-on-year decrease of about 50.4% due to a sluggish real estate market[26]. - The revenue from community shopping services decreased by approximately 26.2% to RMB 6.1 million, while revenue from renovation and decoration services increased by approximately 234.6% to RMB 10.9 million[27]. Operational Metrics - The total managed area decreased to approximately 30.7 million square meters as of June 30, 2024, down 11.5% from approximately 34.7 million square meters as of December 31, 2023[25]. - The number of managed projects reached 226, distributed across 68 cities, indicating a stable operational footprint despite the decrease in managed area[25]. - The average property management fee was RMB 2.9 per square meter, a decrease of RMB 0.2 per square meter compared to the same period in 2023[32]. - The total contracted projects number was 257, a decrease of approximately 2.7% compared to December 31, 2023[32]. - The company expanded its geographical presence to 68 cities in China as of June 30, 2024[33]. - The company is actively expanding into regions outside the Hai Xi and Yangtze River Delta areas, including cities like Tianjin, Chengdu, and Guangzhou[32]. Strategic Focus - The company continues to focus on property management and related value-added services in the Chinese market[6]. - The revenue from the "1+N" development strategy aims to expand value-added services, enhancing traditional property management services and diversifying revenue sources[29]. - The company plans to strengthen its core areas through strategic investments and acquisitions, particularly in the Haixi and Yangtze River Delta regions, to enhance management density and competitiveness[28]. - The company aims to improve service quality and operational efficiency by focusing on technological innovation and upgrading its intelligent information technology systems[29]. - The brand ROYEEDS will be developed into a leading high-end property management brand, with plans to launch more projects in first-tier cities and pilot projects in second-tier cities[29]. - The company emphasizes sustainable talent development strategies, focusing on attracting, training, and retaining professional talent[30]. Corporate Governance - The audit committee has been established to review and monitor the group's financial reporting procedures, risk management, and internal control systems, ensuring compliance with applicable accounting standards[61]. - Following the resignation of Mr. Ye on June 10, 2024, the company had only two independent non-executive directors, which was below the minimum requirement set by the listing rules[62]. - Mr. Lin was appointed as an independent non-executive director on August 12, 2024, restoring compliance with the listing rules regarding the number of independent directors[63]. - The interim results and report for the six months ending June 30, 2024, will be published on the company's website and the stock exchange's website at an appropriate time[63]. Employee Metrics - The company employed a total of 4,990 full-time employees as of June 30, 2024, down from 5,342 employees as of December 31, 2023[57]. - The employee costs recognized by the company were approximately RMB 209.5 million for the six months ended June 30, 2024[57].

Company Performance - The company reported a consolidated annual performance for the reporting period[14]. - For the year ended December 31, 2023, the company's revenue was RMB 901.2 million, an increase of approximately 2.8% compared to RMB 876.8 million in 2022[18]. - The net profit for 2023 was RMB 10.7 million, a decrease of approximately 42.1% from RMB 18.4 million in 2022[22]. - Total revenue for the year ended December 31, 2023, increased by approximately 2.8% to about RMB 901.2 million from RMB 876.8 million in 2022[43]. - Revenue from property management services rose by 17.3% to RMB 712.7 million, driven by an increase in newly delivered projects[43]. - Revenue from non-owner value-added services decreased by 43.2% to RMB 125.9 million, down from RMB 221.7 million in 2022[43]. - Community value-added services revenue increased by approximately 31.7% to RMB 62.6 million, primarily due to the expansion of home delivery services[41]. - The company reported a total revenue for the year ending December 31, 2023, with the largest customer accounting for approximately 18% of total revenue, and the top five customers combined contributing less than 29%[167]. Business Operations - The company operates in 68 cities across China, with a contracted building area of 40.4 million square meters and a managed building area of 34.7 million square meters, serving over 400,000 owners[18]. - The three main business lines generated revenue of RMB 712.7 million, RMB 125.9 million, and RMB 62.6 million, respectively, for property management services, non-owner value-added services, and community value-added services[18]. - The number of managed projects reached 230, with a total managed building area of approximately 34.7 million square meters, reflecting a growth of about 3.0% compared to the previous year[25]. - The total contracted building area as of December 31, 2023, was approximately 40.4 million square meters, a decrease of about 11.8% compared to the previous year[34]. - The total managed building area as of December 31, 2023, was approximately 34.7 million square meters, an increase of about 3.0% year-on-year[34]. Financial Position - Total assets increased by 8.3% to RMB 1,298.0 million in 2023, compared to RMB 1,198.0 million in 2022[22]. - Total liabilities rose by 18.0% to RMB 585.6 million in 2023, up from RMB 496.3 million in 2022[22]. - Trade receivables increased by approximately 6.8% from RMB 317.4 million as of December 31, 2022, to RMB 339.1 million as of December 31, 2023[58]. - Trade payables increased by approximately 24.9% from RMB 146.3 million as of December 31, 2022, to RMB 182.8 million as of December 31, 2023[59]. - Current assets increased by approximately 6.8% from RMB 1,163.8 million as of December 31, 2022, to RMB 1,243.4 million as of December 31, 2023[60]. - The current ratio decreased from 2.4 times as of December 31, 2022, to 2.1 times as of December 31, 2023[62]. - The debt-to-equity ratio was 0.7% as of December 31, 2023, compared to 0.8% as of December 31, 2022[63]. Strategic Focus - The company plans to focus on enhancing service quality and efficiency, shifting from rapid expansion to profit generation through value-added services[19]. - The company aims to develop in the direction of digitalization and holography to improve efficiency and reduce costs[20]. - The company plans to enhance its competitive edge in core regions through strategic investments and acquisitions, focusing on the Haixi and Yangtze River Delta regions[31]. - The company aims to expand revenue sources by implementing a "1+N" development strategy, which includes traditional property management and various value-added services[31]. - The company intends to develop the ROYEEDS brand for high-end property management, targeting first and second-tier cities in China[31]. Governance and Compliance - The board of directors has emphasized the importance of corporate governance, ensuring compliance with all applicable regulations and standards[92]. - The company has three independent non-executive directors, exceeding the requirement of at least one-third of the board members[102]. - The company has established a process for the appointment, re-election, and removal of directors, ensuring compliance with corporate governance codes[104]. - The external auditor, KPMG, is responsible for providing an independent opinion on the consolidated financial statements[108]. - The Audit Committee held two meetings during the year ended December 31, 2023, with all members attending both meetings[116]. Employee and Talent Management - The total number of full-time employees increased from 4,620 as of December 31, 2022, to 5,342 as of December 31, 2023[67]. - The company is focusing on sustainable talent development strategies to attract and retain professional talent[31]. - The group is committed to providing a safe and fair workplace, promoting employee development, and offering competitive compensation and benefits[170]. Shareholder Communication - The company maintains a dedicated investor relations page on its website to ensure effective communication with shareholders and potential investors[148]. - The company has established a shareholder communication policy to address shareholder concerns and ensure timely updates on financial reports and announcements[147]. - The company will hold its annual general meeting on June 26, 2024, with a suspension of share transfer registration from June 21 to June 26, 2024[157][160]. Donations and Corporate Social Responsibility - The group made donations amounting to RMB 22,975 for the year ended December 31, 2023, compared to RMB 2,500 in 2022[171].

Revenue Performance - The total revenue for the group was approximately RMB 901.2 million, an increase of about 2.8% compared to the same period last year[3]. - Revenue from property management services was approximately RMB 712.7 million, accounting for about 79.1% of total revenue, representing a year-on-year increase of approximately 17.3%[3]. - For the fiscal year ending December 31, 2023, the company reported total revenue of RMB 901,187,000, an increase from RMB 876,840,000 in 2022, representing a growth of approximately 2.9%[22]. - Revenue from property management services was RMB 712,668,000 for 2023, up from RMB 607,615,000 in 2022, indicating a growth of about 17.3%[22]. - Revenue from non-owner value-added services was approximately RMB 125.9 million, a decrease of about 43.2% year-on-year[3]. - Revenue from community value-added services was approximately RMB 62.6 million, an increase of about 31.7% compared to RMB 47.6 million in the same period last year[3]. - Revenue from community shopping services ("He Mei Life") was RMB 16,942 thousand, representing 27.1% of community value-added services revenue[61]. - Revenue from "He Mei Yi Ju" (renovation and decoration services) surged to RMB 26,924 thousand, accounting for 43.0% of community value-added services revenue[61]. - Revenue from "He Mei Rental" decreased by approximately 91.2% year-over-year to about RMB 1.4 million, down from approximately RMB 15.9 million in 2022[46]. - Revenue from site-based resource business reached approximately RMB 17.4 million, an increase of about 108.0% compared to approximately RMB 8.3 million in 2022[46]. Profitability and Expenses - The group's gross profit was approximately RMB 172.4 million, a decrease of about 0.3% year-on-year, with a gross profit margin of 19.1%, down 0.6 percentage points from 19.7% in 2022[4]. - The profit for the period was approximately RMB 10.7 million, a decrease of about 42.1% compared to the previous year[4]. - The net profit margin for 2023 was approximately 1.2%, down from 2.1% in 2022, indicating a decline in profitability[37]. - The company had a tax expense of RMB 6,082,000 for the fiscal year 2023, compared to RMB 8,356,000 in 2022, showing a decrease of about 27.2%[27]. - The company’s income tax provision for the fiscal year 2023 included current income tax of RMB 26,445,000, an increase from RMB 22,235,000 in 2022, which is an increase of approximately 19.9%[27]. - The actual income tax rate increased to 36% for the year ended December 31, 2023, compared to 31% for the year ended December 31, 2022[72]. - Profit before tax decreased by approximately 37.4% from about RMB 26.8 million for the year ended December 31, 2022, to about RMB 16.7 million for the year ended December 31, 2023[71]. - Selling and marketing costs reduced by approximately 45.7% from about RMB 7.2 million for the year ended December 31, 2022, to about RMB 3.9 million for the year ended December 31, 2023[68]. - Administrative expenses decreased by approximately 18.4% from about RMB 90.9 million for the year ended December 31, 2022, to about RMB 74.2 million for the year ended December 31, 2023[69]. - Other income decreased by approximately 53.9% from about RMB 6.0 million for the year ended December 31, 2022, to about RMB 2.8 million for the year ended December 31, 2023[66]. Assets and Liabilities - The total assets of the group as of December 31, 2023, were RMB 1,298.04 million, compared to RMB 1,198.02 million in 2022[7]. - The total liabilities increased from RMB 496.28 million in 2022 to RMB 585.64 million in 2023[10]. - Trade receivables from third parties increased to RMB 264,557,000 in 2023 from RMB 176,573,000 in 2022, reflecting a growth of approximately 49.7%[31]. - Trade receivables increased by approximately 6.8% from about RMB 317.4 million as of December 31, 2022, to about RMB 339.1 million as of December 31, 2023[75]. - Trade payables increased by approximately 24.9% from about RMB 146.3 million as of December 31, 2022, to about RMB 182.8 million as of December 31, 2023[76]. - The group's cash and bank balances increased to about RMB 751.8 million as of December 31, 2023, from about RMB 724.1 million as of December 31, 2022, with no borrowings reported[78]. - The current ratio of the group is 2.1, down from 2.4 as of December 31, 2022[80]. - The debt-to-equity ratio as of December 31, 2023, is 0.7%, a decrease from 0.8% as of December 31, 2022, primarily due to a reduction in total equity[81]. Operational Highlights - As of December 31, 2023, the company managed a total contracted area of approximately 40.4 million square meters and an area under management of about 34.7 million square meters across 68 cities in China[36]. - The number of projects under management reached 230, with a total managed construction area of approximately 34.7 million square meters, reflecting an increase of about 7.5% and 3.0% year-over-year[41]. - The group's geographical presence has expanded to 68 cities in China, benefiting from the strategy of "deepening in the Southeast and radiating nationwide"[41]. - In the report period, the managed construction area in the Western region and the Yangtze River Delta region was approximately 15.4 million square meters and 10.7 million square meters, accounting for about 44.3% and 30.9% of the total managed construction area, respectively[41]. - The company aims to enhance its service offerings through the development of value-added services and expansion into new markets, focusing on both residential and non-residential properties[38]. - The company plans to enhance its core areas through strategic investments and acquisitions to strengthen its competitive position in the Haixi and Yangtze River Delta regions[48]. - The "1+N" development strategy will be continued to expand value-added services and diversify revenue sources[48]. - The company aims to improve service quality and operational efficiency through technological innovation and upgrades to its intelligent information technology systems[48]. - The ROYEEDS brand will be developed as a high-end property management brand, with plans to launch more projects in first-tier cities and pilot projects in second-tier cities[48]. - The company is committed to enhancing brand competitiveness and influence in the property management industry through increased project density in core areas[48]. Employee and Governance - The group employed a total of 5,342 full-time employees as of December 31, 2023, compared to 4,620 full-time employees as of December 31, 2022[87]. - Employee costs for the year ended December 31, 2023, were approximately RMB 404.4 million, down from RMB 438.8 million in 2022[87]. - The company has maintained compliance with corporate governance codes throughout the reporting period[95]. - The audit committee has reviewed and approved the financial reporting procedures and internal controls for the year ending December 31, 2023[105]. - The company’s auditor, Kwan & Co., will retire at the annual general meeting but is eligible for reappointment[107]. - The annual report for the year ending December 31, 2023, will be sent to shareholders and made available on the company’s website[109]. - The company will hold its annual general meeting on June 26, 2024[99]. Dividends and Future Plans - The company did not declare a final dividend for the year ended December 31, 2023, consistent with the previous year[4]. - The company has not applied any new accounting standards that would significantly impact its financial performance for the current or prior years[16]. - The group plans to allocate approximately HKD 158.0 million (25.1% of total) for selective strategic investments and acquisition opportunities by December 31, 2026[93]. - The group intends to allocate approximately HKD 206.1 million (32.8% of total) for diversifying its project portfolio and value-added services by December 31, 2026[93]. - The group aims to allocate approximately HKD 130.9 million (20.8% of total) for developing and upgrading hardware and software used in operations by December 31, 2026[93]. - The company plans to allocate HKD 58.0 million (9.3% of total) for further development of high-end property management services under the ROYEEDS brand by December 31, 2026[94]. - A total of HKD 75.5 million (12.0% of total) is designated for general business operations and working capital[94]. - The total net proceeds amount to HKD 628.5 million, with HKD 515.5 million already utilized and HKD 133.6 million remaining[94].

Financial Performance - The company reported an unaudited consolidated interim performance for the period ending June 30, 2023[13]. - For the six months ended June 30, 2023, the company's revenue was RMB 438.0 million, a year-on-year increase of approximately 0.9%[16]. - Property management service revenue increased by approximately 25.8% to RMB 347.7 million, accounting for about 79.4% of total revenue[16]. - Non-owner value-added service revenue decreased by approximately 50.8% to RMB 65.5 million, representing about 15.0% of total revenue[16]. - The gross profit for the six months was RMB 84.3 million, down 8.3% from RMB 91.8 million in the previous year[16]. - The company reported a profit before tax of RMB 18.5 million, a decrease of 61.2% compared to RMB 47.7 million in the same period last year[16]. - Total revenue for the first half of 2023 was approximately RMB 438.0 million, a slight increase of about 0.9% from RMB 434.2 million in the first half of 2022[45]. - Gross profit decreased by approximately 8.3% to about RMB 84.3 million in the first half of 2023, down from RMB 91.8 million in the same period of 2022[48]. - The overall gross margin declined from approximately 21.1% in the first half of 2022 to about 19.2% in the first half of 2023[49]. - The company's profit attributable to owners decreased by approximately 61.2% from about RMB 32.5 million for the six months ended June 30, 2022, to about RMB 12.6 million for the six months ended June 30, 2023[59]. Assets and Liabilities - The total assets as of June 30, 2023, were RMB 1,213.2 million, an increase of 1.3% from RMB 1,198.0 million at the end of 2022[16]. - The total liabilities increased by 0.6% to RMB 499.0 million, compared to RMB 496.3 million at the end of 2022[16]. - The company's current assets net value was approximately RMB 669.7 million as of June 30, 2023, compared to RMB 670.6 million as of December 31, 2022[64]. - The cash and bank balance decreased from approximately RMB 724.1 million as of December 31, 2022, to about RMB 667.3 million as of June 30, 2023[64]. - The debt-to-equity ratio increased to 0.9% as of June 30, 2023, from 0.8% as of December 31, 2022, primarily due to an increase in total equity[67]. - The total trade receivables as of June 30, 2023, amounted to RMB 410,095 thousand, an increase from RMB 372,832 thousand as of December 31, 2022[147]. Strategic Initiatives - The company is focusing on expanding its operations in the Greater Bay Area, which includes cities like Guangzhou and Shenzhen[10]. - The company is actively pursuing new product development and technological advancements to enhance service offerings[13]. - There is an emphasis on market expansion strategies, particularly in regions outside the Yangtze River Delta and Haixi areas[10]. - The company is exploring potential mergers and acquisitions to strengthen its market position[13]. - The company aims to enhance project density in core regions to create greater revenue and cost-saving opportunities[17]. - The company plans to continue its "1+N" development strategy to explore diversified value-added services while maintaining service quality[17]. - The company plans to deepen its core areas through strategic investments and acquisitions to enhance project density and competitiveness, particularly in the Haixi and Yangtze River Delta regions[30]. - The company aims to expand revenue sources by implementing a "1+N" development strategy, which includes traditional property management services and various value-added services[30]. - The company plans to develop the ROYEEDS brand into a leading high-end property management brand, with projects launched in first-tier cities and pilot projects in selected second-tier cities[30]. Corporate Governance - The company is committed to maintaining high corporate governance standards as outlined in its governance code[7]. - The board believes that diversifying value-added services will enhance competitiveness and facilitate contract acquisition from independent third parties[90]. - The board has adopted a more cautious acquisition assessment approach due to the impact of the pandemic and market dynamics on potential acquisition targets[88]. - The company is committed to high standards of corporate governance to protect shareholder interests and enhance corporate value[97]. Employee and Operational Metrics - The company employed a total of 5,848 full-time employees as of June 30, 2023, compared to 4,620 full-time employees as of December 31, 2022[76]. - The company emphasizes the importance of recruiting and training talent to provide quality services for the ROYEEDS brand[93]. Cash Flow and Utilization of Proceeds - Approximately 60.0% of the net proceeds from the IPO will be used for selective strategic investments and acquisitions to expand the company's business scale and geographical coverage[81]. - The expected timeline for full utilization of the net proceeds has been extended to December 31, 2026, or earlier due to market conditions[86]. - The company plans to utilize part of the unutilized net proceeds to support general business operations and working capital, amounting to 12.0% (HKD 75.5 million)[84]. - The company plans to reallocate part of the unutilized net proceeds to upgrade and purchase more advanced smart systems and software, including facial recognition and automated monitoring systems, to enhance operational efficiency and reduce labor costs[91]. Market Conditions and Challenges - The company has identified a significant impact on the property management service industry due to the overall poor performance of the real estate sector in China[87]. - The company reported a net cash outflow from operating activities of RMB 51,149 thousand, an improvement from RMB 133,464 thousand in the previous year[116]. - The company’s major client, Rongxin China Holdings Limited, accounted for 6% of total revenue in 2023, down from 20% in 2022, indicating a significant reduction in dependency on this client[129].

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。 Ronshine Service Holding Co., Ltd 融 信 服 務 集 團 股 份 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：2207） 截 至2023年6月30日 止 六 個 月 之 中 期 業 績 公 告 及 變 更 所 得 款 項 用 途 財務及營運摘要 (cid:129) 438.0 2022 6 於報告期間內，本集團總收益達約人民幣 百萬元，較截至 年 30 0.9% 月 日止六個月增加約 。 (cid:129) (i) (ii) 本集團收益主要來自三大業務線： 物業管理服務； 非業主增值服 (iii) (i) 務；及 社區增值服務。於報告期間： 物業管理服務所得收益約為人 347.7 79.4% 2022 276.3 民幣 百萬元，佔整體收益的約 ，較 年同期約人民幣 百 25.8% (ii) 65.5 ...

Financial Performance - Ronshine Service reported a revenue of HKD 1.5 billion for the fiscal year 2022, representing a year-on-year increase of 15%[3]. - The company achieved a net profit margin of 12%, up from 10% in the previous year, indicating improved operational efficiency[3]. - The company's revenue for the year ended December 31, 2022, was approximately RMB 876.8 million, a decrease of 11.5% compared to RMB 990.9 million in 2021[19]. - Net profit for the same period was approximately RMB 18.4 million, down 84.6% from RMB 119.5 million in 2021[28]. - The company’s gross profit for 2022 was RMB 172.9 million, reflecting a decline of 37.9% from RMB 278.4 million in 2021[19]. - The overall gross margin decreased from approximately 28.1% for the year ended December 31, 2021, to approximately 19.7% for the year ended December 31, 2022[59]. - The company reported a total revenue of RMB 876.8 million for the year ended December 31, 2022, a decrease of 11.5% from RMB 990.9 million in 2021[54]. - The company's operational performance is influenced by the profit margins of its three main business lines: property management services, non-owner value-added services, and community value-added services[41]. User Growth and Market Expansion - User data showed a growth in customer base by 20%, reaching a total of 500,000 active users by the end of 2022[3]. - The company operates in 67 cities across China, with a contracted building area of 45.8 million square meters and a managed building area of 33.7 million square meters, serving over 400,000 homeowners[22]. - Market expansion plans include entering two new regions in China, targeting a 15% market share in these areas within the next three years[3]. - The company expanded its geographical presence to 67 cities across China as of December 31, 2022[46]. - The revenue from the Haixi region accounted for 62.7% of total revenue, with a total managed area of 17.0 million square meters[46]. Strategic Initiatives and Investments - The company is investing HKD 200 million in new technology development aimed at enhancing service delivery and customer experience[3]. - The company is exploring potential mergers and acquisitions to strengthen its market position, with a budget of HKD 300 million allocated for this purpose[3]. - The company plans to deepen its core areas through strategic investments and acquisitions to enhance project density and competitiveness, particularly in the Haixi and Yangtze River Delta regions[39]. - The company aims to expand revenue sources by implementing a "1+N" development strategy, which includes traditional property management services and various value-added services[39]. - The company plans to utilize 60% of the net proceeds for strategic investments and acquisitions, with an expected completion date of December 31, 2023[94]. Operational Efficiency and Cost Management - Operational costs have been reduced by 5% through efficiency measures implemented in 2022[3]. - The company has set a goal to reduce operational costs by 8% through efficiency improvements in the next fiscal year[100]. - The group's sales cost decreased by approximately 1.2% from about RMB 712.5 million for the year ended December 31, 2021, to about RMB 703.9 million for the year ended December 31, 2022[55]. - Administrative expenses decreased by approximately 19.1% from about RMB 112.4 million for the year ended December 31, 2021, to about RMB 90.9 million for the year ended December 31, 2022[62]. Corporate Governance and Compliance - The board of directors is responsible for ensuring that the financial statements fairly reflect the group's affairs and comply with applicable regulations and accounting standards[143]. - The audit committee is composed of three independent non-executive directors, ensuring adequate independent oversight[152]. - The company has mechanisms in place to ensure the board receives independent views and opinions[147]. - The company has adopted a practice of holding regular board meetings with at least 14 days' notice to all directors[144]. - The company has established a whistleblowing policy allowing employees to report concerns related to misconduct confidentially[149]. Sustainability and Corporate Social Responsibility - The management team emphasized the importance of sustainability initiatives, aiming for a 50% reduction in carbon emissions by 2025[100]. - The board of directors has established a new committee focused on sustainability initiatives, reflecting a commitment to corporate social responsibility[115]. Future Outlook - For the upcoming fiscal year, Ronshine Service projects a revenue growth target of 10% to 12%[3]. - The company provided a positive outlook for 2023, projecting a revenue growth of 10% to 12%[100]. - New product launches are expected to contribute an additional 5% to overall revenue in the upcoming fiscal year[100]. - The company plans to develop a "Beautiful + " full-life service system to meet diverse customer needs in 2023[24].

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。 Ronshine Service Holding Co., Ltd 融 信 服 務 集 團 股 份 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：2207） 截 至2022年12月31日 止 年 度 之 年 度 業 績 公 告 及 建 議 修 訂 組 織 章 程 大 綱 及 細 則 財務及營運摘要 (cid:129) 876.8 報告期間內，本集團總收益約為人民幣 百萬元，較去年同期減少約 11.5% 。 (cid:129) (i) (ii) 本集團收益主要來自三大業務線： 物業管理服務； 非業主增值服 (iii) (i) 務；及 社 區 增 值 服 務。於 報 告 期 間： 物 業 管 理 服 務 收 益 約 人 民 幣 607.6 69.3% 2021 475.9 百 萬 元，佔 整 體 收 益 的 約 ，較 年 同 期 約 人 民 幣 百 萬 27.7% (ii) 221.7 ...

Financial Performance - The company reported an unaudited consolidated performance for the interim period, with significant financial highlights to be disclosed[13]. - For the six months ended June 30, 2022, the company reported revenue of RMB 434.2 million, a decrease of 11.2% compared to RMB 488.8 million in the same period of 2021[14]. - The company's net profit for the same period was RMB 35.3 million, down 48.7% from RMB 68.9 million in the previous year[14]. - Total revenue for the six months ended June 30, 2022, was RMB 434,240,000, a decrease of 11.2% compared to RMB 488,834,000 for the same period in 2021[113]. - Gross profit for the same period was RMB 91,839,000, down 36.2% from RMB 143,835,000 in 2021[113]. - Operating profit decreased to RMB 46,043,000, representing a decline of 51.0% from RMB 94,116,000 in the previous year[113]. - Basic and diluted earnings per share were RMB 0.06, down from RMB 0.18 in the same period last year[113]. - Profit attributable to owners of the company decreased by approximately 51.2% from RMB 66.5 million for the six months ended June 30, 2021, to RMB 32.5 million for the six months ended June 30, 2022[65]. - The overall gross profit margin declined from 29.4% in the first half of 2021 to 21.1% in the first half of 2022[54]. Revenue Breakdown - Property management services accounted for 63.6% of total revenue, generating RMB 276.3 million, a 25.4% increase from RMB 220.4 million in the previous year[25]. - Non-owner value-added services contributed 30.7% to total revenue, with a gross profit margin of 21.2%[28]. - Non-owner value-added service revenue was approximately RMB 133.2 million, a year-on-year decrease of about 44.1% compared to RMB 238.2 million in the same period last year[29]. - Community value-added service revenue was approximately RMB 24.7 million, down 18.3% from RMB 30.3 million as of June 30, 2021, primarily due to pandemic-related lockdowns and logistics disruptions[30]. - Revenue from the group’s community shopping service, under the brand "He Mei Life," decreased significantly to RMB 7,467 thousand from RMB 23,679 thousand in the same period of 2021[46]. Operational Insights - The report includes a comprehensive income statement and balance sheet, providing detailed financial data for stakeholders[12]. - The management discussion and analysis section will provide insights into operational performance and strategic direction[10]. - The company is actively pursuing new product and technology development to enhance its service offerings[8]. - The company is focusing on enhancing service quality through initiatives like the "Benchmark Project" to improve overall service standards[20]. - The company aims to strengthen its market position by emphasizing standardized, market-oriented, digital, and diversified property management services in the second half of 2022[20]. Market Strategy and Expansion - Future outlook and business expansion strategies are discussed, highlighting potential growth areas in the Greater Bay Area[9]. - The company is exploring opportunities in other regions beyond the Greater Bay Area, indicating a broader market expansion strategy[11]. - The company aims to leverage its position in the market for potential mergers and acquisitions to drive growth[6]. - The company plans to deepen its core areas through strategic investments and acquisitions to enhance project density and competitiveness in the Haixi and Yangtze River Delta regions[32]. - The company aims to expand revenue sources by implementing a "1+N" development strategy, which includes traditional property management services and various value-added services[33]. Financial Position and Assets - Total assets as of June 30, 2022, amounted to RMB 1,174,988 thousand, a slight increase from RMB 1,154,545 thousand as of December 31, 2021[115]. - Cash and cash equivalents decreased from RMB 761,885 thousand in 2021 to RMB 622,491 thousand in 2022, reflecting a reduction of approximately 18.3%[121]. - The company reported a net cash outflow from operating activities of RMB (133,464) thousand for the six months ended June 30, 2022, compared to RMB (21,830) thousand for the same period in 2021[121]. - Current assets increased by approximately 1.7% from RMB 1,133.2 million as of December 31, 2021, to RMB 1,152.3 million as of June 30, 2022[71]. - Trade receivables increased by approximately 24.5% from RMB 279.5 million as of December 31, 2021, to RMB 347.9 million as of June 30, 2022[67]. Employee and Management - As of June 30, 2022, the group employed a total of 4,886 full-time employees, a decrease from 5,685 employees as of December 31, 2021[84]. - Employee costs recognized as expenses for the six months ended June 30, 2022, amounted to RMB 234.9 million[84]. - The remuneration for key management personnel, excluding directors, was RMB 1,249 thousand for the six months ended June 30, 2022, up 7.0% from RMB 1,167 thousand in the same period of 2021[191]. Governance and Compliance - There is a commitment to corporate governance and compliance, ensuring transparency and accountability in operations[7]. - The company has established an audit committee to oversee financial reporting and risk management, consisting of three independent non-executive directors[105]. - The company has not identified any significant impacts on its financial position or performance from the application of new accounting standards during the reporting period[129]. Shareholder Information - As of June 30, 2022, the group’s major shareholder, Mr. Ou Zonghong, holds 375,000,000 shares, representing approximately 73.80% of the total issued shares[98]. - Major shareholders include HSBC International Trustee Limited and Rongan Juxiang, each holding 73.80% of the shares[101].

Financial Performance - The company reported a revenue of RMB 1.5 billion for the fiscal year ending December 31, 2021, representing a year-over-year increase of 20%[28]. - The company's total revenue for 2021 was approximately RMB 990.9 million, representing a year-on-year increase of 32.1% compared to 2020[52]. - Gross profit for 2021 was approximately RMB 278.4 million, with a year-on-year growth of 28.7%[52]. - Net profit for 2021 reached approximately RMB 119.5 million, an increase of 40.5% compared to the previous year[52]. - In 2021, the property management service revenue reached approximately RMB 475.9 million, representing a year-on-year increase of about 29.6%[58]. - Revenue from non-owner value-added services increased by 18.3% year-on-year to approximately RMB 435.7 million, accounting for 44.0% of total revenue[69]. - Community value-added services revenue reached approximately RMB 79.3 million, a significant increase of 433.2% compared to RMB 14.9 million in the same period of 2020, representing 8.0% of total revenue[70]. - The overall gross margin decreased from approximately 28.8% in 2020 to 28.1% in 2021[102]. - The gross margin for property management services was 23.3% in 2021, slightly up from 23.2% in 2020[103]. - The gross margin for non-owner value-added services decreased from 34.2% in 2020 to 32.1% in 2021[103]. User and Market Growth - User data indicated a total of 1.2 million active users, with a growth rate of 15% compared to the previous year[28]. - Market expansion efforts include entering three new cities in the Greater Bay Area, projected to increase market share by 5%[28]. - The company has expanded its geographical presence to 52 cities in China by December 31, 2021[85]. - The total contracted area as of December 31, 2021, was approximately 44.6 million square meters, with an increase of about 6.4 million square meters from the end of 2020[52]. - The area under management as of December 31, 2021, was approximately 28.9 million square meters, which is an increase of about 0.9 million square meters from the end of 2020[52]. Strategic Initiatives - The company provided a forward guidance of 10-15% revenue growth for the next fiscal year, anticipating continued market expansion[28]. - New product launches are expected to contribute an additional RMB 300 million in revenue, with a focus on enhancing service offerings[28]. - The company is investing RMB 200 million in technology research and development to improve operational efficiency and customer experience[28]. - The company is exploring potential mergers and acquisitions to enhance its service portfolio, targeting a completion by Q3 2022[28]. - A new strategic partnership was announced with a leading technology firm to leverage AI in service delivery, expected to reduce costs by 10%[28]. - The company aims to focus on digital transformation and the development of "smart communities" as part of its strategic direction for 2022-2024[60]. Financial Position and Assets - The total assets of the company reached RMB 5 billion, with a year-over-year increase of 25%[28]. - Total assets as of December 31, 2021, were RMB 1,154.5 million, reflecting a significant increase of 173.2% from the previous year[50]. - Total liabilities were RMB 459.2 million, with a year-on-year increase of 25.0%[50]. - Total equity reached RMB 695.3 million, showing a remarkable increase of 1,155.9% compared to the previous year[50]. - Trade receivables increased by approximately 175.0% from about RMB 101.6 million as of December 31, 2020, to approximately RMB 279.5 million as of December 31, 2021, mainly due to market expansion and receivables from related parties[115]. - Current assets increased by approximately 181.0% from about RMB 403.3 million as of December 31, 2020, to approximately RMB 1,133.2 million as of December 31, 2021[117]. Management and Governance - The company has a strong management team with extensive experience in financial management, including Lin Liqiong with over 22 years and Chen Zhangwang with over 34 years in economic research and teaching[138][143]. - The company emphasizes internal control and financial management, as highlighted by the roles of Lin Yi and Lin Liqiong in overseeing these functions[137][138]. - The board consists of seven directors, including three executive directors, one non-executive director, and three independent non-executive directors[153]. - The board has established three committees: the Audit Committee, the Remuneration Committee, and the Nomination Committee to oversee strategic decisions and business performance[156]. - The company has complied with all applicable corporate governance code provisions since its listing date, except for a deviation noted in code provision A.1.1[156]. - The independent non-executive directors exceed one-third of the board members, ensuring compliance with listing rules[160]. Employee and Operational Insights - As of December 31, 2021, the group employed 5,685 full-time employees, an increase from 5,342 employees in 2020[125]. - Employee costs recognized for the year amounted to approximately RMB 527.6 million, up from RMB 460.9 million in 2020[125]. - The company will continue to monitor the impact of the COVID-19 pandemic on its financial condition and operational performance, adapting strategies as necessary[74]. IPO and Capital Allocation - The net proceeds from the IPO, after deducting underwriting commissions and other estimated expenses, were approximately HKD 628.5 million[128]. - 60% of the net proceeds from the IPO, amounting to HKD 377.1 million, is allocated for strategic investments and acquisitions, with an expected timeline for utilization by December 31, 2023[130]. - 11% of the net proceeds, or HKD 69.1 million, is designated for diversifying the project portfolio and value-added services, also expected to be utilized by December 31, 2023[130]. - 15% of the net proceeds, totaling HKD 94.3 million, is allocated for the development and upgrading of operational hardware and software, with a similar timeline for utilization[130]. - 4% of the net proceeds, amounting to HKD 25.1 million, is intended for the development of property management services under the ROYEEDS brand for high-end properties, expected to be utilized by December 31, 2023[130]. - 10% of the net proceeds, or HKD 62.9 million, is reserved for general business operations and working capital[130].