FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 東原仁知城市運營服務集團股份有限公司 (「本公司」) 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02352 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 66,990,867 | RMB | | 1 RMB | | 66,990,867 | | 增加 / 減少 (-) | | | 0 | | | RMB | | | | 本月底結存 | | | 66,990,867 | RMB | | 1 RMB | | 66,990,867 | 本月底法定/註冊股本總額： RMB ...

Group 1 - The core viewpoint of the article highlights a significant surge in IPO activities in Hong Kong, with 43 companies successfully listing in the first half of the year, compared to 30 in the same period last year, and total fundraising reaching 1,067.14 billion HKD, surpassing last year's total of 876.77 billion HKD, making it the largest globally [1] - The IPO wave is characterized by a diverse range of companies, particularly in new consumption and hard technology sectors, indicating a shift in the Hong Kong stock market ecosystem [1][10] - The Hong Kong Stock Exchange (HKEX) is preparing for over 100 IPOs, with more than 160 companies currently in the queue, reflecting a robust market interest [5][6] Group 2 - The article notes that the IPO landscape is evolving, with companies adopting various listing strategies, including direct listings and A+H share structures, to access capital markets [6][18] - Notable companies like Midea Group and SF Express have successfully listed, reigniting investor interest in the Hong Kong market [6][15] - The influx of A-share companies seeking to list in Hong Kong, including well-known firms like Seres and Zhaoyi Innovation, indicates a growing trend of companies looking to capitalize on the favorable market conditions [7][26] Group 3 - The article emphasizes the dual focus on new consumption and hard technology as the main drivers of the current IPO boom, with companies in these sectors receiving increased market acceptance and valuation [10][12] - The performance of newly listed companies, such as Mixue Group and Gu Ming, demonstrates strong market enthusiasm, with significant stock price increases post-IPO [10][11] - The article also highlights the improved liquidity in the Hong Kong market, which has attracted international long-term funds and sovereign wealth funds to participate in IPOs [13][30] Group 4 - The article predicts that the total fundraising for the year could reach 2,000 billion HKD, with expectations of 80 new listings, primarily from technology, media, telecommunications, and consumer sectors [26][28] - The trend of companies shifting from US listings to Hong Kong is noted, driven by a more favorable market environment and improved liquidity in Hong Kong [29][30] - The article concludes that the current IPO climate in Hong Kong is a result of supportive policies, market demand, and the internationalization of the Hong Kong stock market [21][25]

Group 1 - The Hong Kong stock market experienced a decline, but this is viewed as a buying opportunity, with hopes for further drops to around 23,800 points [1] - Morgan Stanley has expressed a bullish outlook on Chinese assets, noting that international investors are reconsidering the prospects of Chinese stocks due to recent advancements in AI and technology [1][2] - Despite the overall market decline, certain AI software stocks, such as Ping An Good Doctor and Kingsoft, saw significant gains, indicating a strong performance in this sector [1] Group 2 - The decline in the Hong Kong market was attributed to the poor performance of major companies like Alibaba and JD.com, as well as profit-taking following the results of US-China negotiations [3] - The market is currently in a consolidation phase, which is seen as a healthy correction before a potential upward movement, as long as the Hang Seng Index does not fall below 23,800 [4] Group 3 - Chinese biopharmaceuticals are on the verge of significant breakthroughs, with multiple out-licensing deals expected to be finalized, indicating a growing interest in China's innovative drug sector [5] - The stock prices of Pop Mart and Blokus have seen a dramatic increase, but there is a notable rise in short-selling activity, suggesting potential concerns about overvaluation [6][7] Group 4 - SF Express has reached a new high in its stock price, driven by the anticipated growth in unmanned logistics vehicles and an overall positive outlook for the company's performance over the next two years [8]

Group 1 - The integration of Shenzhen's technological innovation and Hong Kong's financial capabilities is crucial for the development of a dual circulation economy in China [1][2] - The seminar held on May 15-16, 2025, aimed to address challenges faced by Shenzhen companies in listing in Hong Kong and to explore new paradigms for capital markets serving the real economy [1][2] - Shenzhen is recognized as a hub for strategic emerging industries, while Hong Kong serves as a significant international capital resource, creating a strong foundation for economic collaboration [2][3] Group 2 - The Hong Kong stock market has undergone reforms to create a diverse and inclusive investment ecosystem, making it a key platform for mainland companies to access international markets [3][4] - A survey conducted prior to the seminar identified major challenges for companies preparing to list in Hong Kong, including unfamiliarity with listing rules and differences in accounting standards [4][6] - The seminar featured insights from various financial institutions and experts, emphasizing the importance of understanding the complexities of the Hong Kong capital market for successful internationalization [6][7] Group 3 - SF Express shared its experience as the first logistics company to list in Hong Kong, highlighting the importance of presenting a relatable investment narrative to international investors [5][6] - The seminar included discussions on the regulatory and operational aspects of listing in Hong Kong, with contributions from legal and financial professionals [7] - The event also marked the launch of an evaluation initiative aimed at enhancing the quality and investment value of Chinese companies listed in Hong Kong [7]

Financial Performance - The Group's revenue for the year ended December 31, 2023, was approximately RMB1,530.2 million, reflecting a slight increase of 0.1% compared to RMB1,528.2 million in the previous year[15]. - Revenue from City Operation Services was approximately RMB879.5 million, accounting for 57.5% of total revenue, with a growth of 0.8% from RMB872.1 million[15]. - Revenue from Lifestyle Services decreased by 3.8% to approximately RMB213.6 million, representing 14.0% of total revenue[15]. - Gross profit was approximately RMB207.9 million, down 2.3% from RMB212.9 million, with a gross profit margin of 13.6%, a decrease of 0.3 percentage points[16]. - The Group reported a loss of approximately RMB61.6 million for the reporting period, with a loss attributable to owners of the Company of approximately RMB66.9 million[16]. - The Group's total revenue for the year ended December 31, 2024, was approximately RMB1,530.2 million, representing an increase of approximately RMB2.0 million or 0.1% compared to RMB1,528.2 million for the previous year[67]. Revenue Breakdown - Revenue from property projects sourced from Dima Group was RMB 397.2 million, accounting for 45.1% of total revenue for the year ended December 31, 2024[33]. - Revenue from property projects sourced from Independent Third Parties was RMB 431.4 million, representing 49.1% of total revenue for the same period[33]. - Revenue from residential properties was RMB 600.8 million, representing 68.3% of total revenue, while non-residential properties generated RMB 278.7 million, representing 31.7%[42]. - Revenue from comprehensive foreign affairs related services increased by approximately 6.2% to approximately RMB188.2 million, up from RMB177.2 million in the same period last year[56]. - Revenue from comprehensive medical related services rose by approximately 23.8% to approximately RMB88.6 million, compared to RMB71.6 million in the previous year[59]. - Revenue from comprehensive digital and intelligent technology services decreased by approximately 51.3% to approximately RMB11.2 million, down from RMB23.0 million in the same period last year[60]. - Revenue from comprehensive elderly care services increased by approximately 18.3% to approximately RMB53.3 million, compared to RMB45.0 million in the previous year[61]. - Revenue from comprehensive consultation management services decreased by approximately 18.3% to approximately RMB95.8 million, down from RMB117.2 million in the previous year[62]. Operational Metrics - As of December 31, 2024, the Group managed 625 property projects with a total GFA of approximately 62.0 million sq.m. across 80 cities in China[18]. - The Group was contracted to manage 648 property projects with a total GFA of approximately 69.4 million sq.m. in 82 cities[18]. - The GFA under management from projects sourced from Dima Group reached approximately 17.6 million sq.m., representing a 4.8% increase compared to December 31, 2023[27][30]. - The GFA under management from Independent Third Parties was approximately 31.5 million sq.m., showing a decrease of 1.4% compared to December 31, 2023[27][30]. - GFA under management for residential properties was approximately 39.8 million sq.m., accounting for 75.0% of the total GFA, which grew by 4.5 percentage points compared to 2023[38]. - GFA under management for non-residential properties was approximately 13.2 million sq.m., accounting for 25.0% of the total GFA, which decreased by 4.5 percentage points compared to 2023[39]. - The number of projects managed increased from 347 in 2023 to 383 in 2024, indicating a growth in operational scale[42]. Cost and Profitability - The Group's gross profit decreased by approximately 2.3% from approximately RMB212.9 million for the year ended December 31, 2023, to approximately RMB207.9 million for the year ended December 31, 2024[73]. - The Group's cost of sales increased by approximately RMB6.9 million or 0.5% to approximately RMB1,322.3 million from approximately RMB1,315.4 million for the year ended December 31, 2023[72]. - The Group's overall gross profit margin decreased to approximately 13.6% for the year ended 31 December 2024, down from approximately 13.9% for the year ended 31 December 2023, primarily due to increased competition leading to reduced revenue from higher-margin businesses[77][79]. - The gross profit margin for Lifestyle Services was approximately 21.2%, a decrease from approximately 21.7% for the year ended 31 December 2023, attributed to lower revenue from car parking spaces and property sales services[81][86]. - The gross profit margin for FATH and Other Comprehensive Services decreased to approximately 13.0% from approximately 13.9% for the year ended 31 December 2023, mainly due to budget cuts from certain customers[82][86]. Financial Position - The Group's total equity decreased by approximately 19.3% to about RMB 409.2 million as of December 31, 2024, down from RMB 506.9 million as of December 31, 2023[114]. - The gearing ratio increased to approximately 22.2% as of December 31, 2024, from approximately 19.8% as of December 31, 2023[116]. - Cash and cash equivalents were approximately RMB 261.7 million as of December 31, 2024, compared to RMB 256.6 million as of December 31, 2023[113]. - The Group's contract liabilities rose by approximately 13.8% to approximately RMB 336.4 million as of December 31, 2024, from RMB 295.7 million as of December 31, 2023[108]. - The provision for impairment of trade and bills receivables increased to approximately RMB118.8 million, representing a significant increase of approximately 173.3% from approximately RMB43.5 million as of December 31, 2023[101]. Strategic Initiatives - The Group aims to enhance its service capabilities to establish competitive advantages in securing engagements for City Operations Services[25][28]. - The Group is focused on organic growth and strategic acquisitions to expand its property portfolio and business scale[27][30]. - The Group aims to promote urban development towards refinement, specialization, and intelligence in 2025, focusing on long-term sustainable development based on quality[133]. - The Group plans to expand into the Southeast Asian market, leveraging rapid regional economic development to identify new business growth opportunities[143]. - The Group will launch the "Xuanhai Technology" sub-brand to drive service product innovation through AIoT technology, enhancing smart property solutions[150]. - The Group aims to enhance market growth capabilities by developing integrated facilities management (IFM) services and exploring new business opportunities in catering and nutrition[143]. Human Resources and Management - The Group had 5,903 employees as of December 31, 2024, an increase from 5,760 employees as of December 31, 2023[122]. - Talent development initiatives include the "Wings of Original" program, ensuring new employees meet competency standards within a year[160]. - The Group aims to build a high-performance team by enhancing skills in business communication, project negotiation, and professional analysis[141]. - The establishment of a human resources shared services center is expected to enhance service ratios and further reduce management costs[159]. Dividends and Shareholder Information - The Board recommended a final dividend of RMB0.03 per share for the year ended December 31, 2024, consistent with the previous year[16]. - The final dividend distribution is subject to shareholder approval at the AGM scheduled for June 10, 2025[181]. Leadership and Governance - Ms. Yi Lin has over 18 years of experience in financial management and accounting, serving as CFO of Dongyuan Real Estate since January 2008[192]. - Mr. Zhang Aiming was appointed as an executive Director in October 2022 and re-elected in December 2023, holding various roles at Dima from March 2012 to May 2022[193][194]. - Mr. Fan Dong has over 25 years of experience in the property management industry and joined the Group in August 2014[197][198]. - As of the date of the annual report, Mr. Fan Dong holds approximately 7.45% of the total issued share capital of the Company[199]. - Ms. Cai Ying holds a master's degree in finance and was appointed as an independent non-executive Director in December 2020, re-elected in December 2023[200].

Revenue and Financial Performance - The group's revenue for the year ended December 31, 2024, was approximately RMB 1,530.2 million, an increase of about 0.1% compared to RMB 1,528.2 million for the year ended December 31, 2023[3]. - Revenue from property urban services was approximately RMB 879.5 million, accounting for about 57.5% of total revenue, an increase of approximately 0.8% from RMB 872.1 million for the previous year[3]. - Revenue from integrated services in foreign affairs, technology, and healthcare was approximately RMB 437.1 million, accounting for about 28.5% of total revenue, an increase of approximately 0.7% from RMB 434.1 million for the previous year[4]. - The gross profit was approximately RMB 207.9 million, a decrease of about 2.3% from RMB 212.9 million for the previous year, with a gross profit margin of approximately 13.6%[4]. - The reported loss for the period was approximately RMB 61.6 million, with a loss attributable to the company's owners of approximately RMB 66.9 million[4]. - The total equity attributable to the owners of the company was approximately RMB 383.2 million, down from RMB 482.5 million in the previous year[7]. - The total comprehensive income for the year ended December 31, 2023, was reduced by RMB 18,488,000 due to the merger accounting adjustments[63]. - The company reported a basic and diluted earnings per share of RMB 0.038 for the year ended December 31, 2023, after accounting adjustments[63]. - The company reported a loss attributable to equity holders of RMB (66,882,000) in 2024, compared to a profit of RMB 2,529,000 in 2023[49]. - Basic loss per share for 2024 was RMB (0.998), a decline from earnings of RMB 0.038 per share in 2023[49]. Dividends and Shareholder Information - The board proposed a final dividend of RMB 0.03 per share (tax included) for the year ended December 31, 2024, unchanged from the previous year[4]. - The total dividends declared for 2024 were RMB 4,421,000, significantly lower than RMB 9,379,000 in 2023[51]. - The proposed final dividend will be paid in Hong Kong dollars based on the average exchange rate of RMB to HKD published by the People's Bank of China seven days prior to the annual general meeting[140]. - A withholding tax of 10% will be applied to dividends distributed to non-resident corporate shareholders[141]. - Individual shareholders from Hong Kong or Macau will have a personal income tax withheld at a rate of 10%[142]. - The record date for attending the annual general meeting and voting rights is set for May 29, 2025[146]. - The record date for eligibility to receive the proposed final dividend is June 13, 2025[146]. - The annual general meeting will be held on June 10, 2025, to approve the dividend distribution plan[145]. Acquisitions and Business Combinations - The company acquired approximately 90.73% of Shanghai Changqing's equity, which has been accounted for as a business combination under common control[2]. - The group acquired 90.73% of Shanghai Changqing Society from Di Ma Industrial for RMB 28,000,000, classified as a business combination under common control[19]. - The company completed the acquisition of approximately 90.73% of Shanghai Evergreen Community Health Development Co., Ltd. for RMB 28.0 million, which operates over 14 elderly care institutions and manages more than 3,000 beds, serving over 20,000 users[128]. - The company also acquired 100% of Chengdu Dongyu Hong Commercial Management Co., Ltd. for RMB 59.5 million, which holds approximately 83.48% ownership of a property used as a nursing home[129]. - The acquisition of Chengdu Dongwu Hong has been accounted for as an acquisition of assets[68]. - The total cash consideration for the acquisition was RMB 59,500,000, with acquisition-related costs being insignificant[69]. Assets and Liabilities - Non-current assets totaled approximately RMB 484.1 million, a decrease from RMB 494.3 million in the previous year[6]. - Current liabilities amounted to approximately RMB 976.3 million, an increase from RMB 922.1 million in the previous year[7]. - The company's non-current assets increased to RMB 494,309,000 after merger accounting adjustments, up from RMB 378,535,000[64]. - The total liabilities increased to RMB 922,145,000 after adjustments, reflecting an increase of 5.4%[65]. - The total intangible assets increased to RMB 331,671,000 as of December 31, 2024, up from RMB 328,387,000 as of December 31, 2023, reflecting a growth of 0.4%[54]. - Trade receivables and notes receivable amounted to RMB 713,822,000 as of December 31, 2024, compared to RMB 680,278,000 as of December 31, 2023, representing an increase of 4.9%[55]. - The provision for impairment of trade receivables increased significantly to RMB 118,820,000 in 2024 from RMB 43,477,000 in 2023, indicating a rise of 173.5%[55]. - The aging analysis of trade receivables shows that receivables within one year increased to RMB 555,961,000 in 2024 from RMB 419,737,000 in 2023, a growth of 32.4%[56]. - The company's total equity remains stable with 66,991,000 shares issued at a par value of RMB 1 per share as of December 31, 2024, unchanged from the previous year[60]. - The group's debt-to-equity ratio increased from approximately 19.8% on December 31, 2023, to about 22.2% as of December 31, 2024[110]. Operational Performance and Strategy - The company aims to enhance its service capabilities and expand its business scope through organic growth, strategic acquisitions, and investments[76]. - The company plans to continue expanding its geographic footprint, managing projects in 60 cities across China[81]. - The group aims to enhance market penetration and quality improvement through a "four modernization" strategy, focusing on standardization and branding[116]. - The group plans to explore new business opportunities in integrated facility management (IFM) and health services, targeting industrial parks and healthcare institutions[118]. - The "Evergreen Society" sub-brand focuses on providing comprehensive solutions for elderly care, including high-quality living arrangements for seniors[119]. - The company launched the "Shining Sea Technology" sub-brand, leveraging AIoT technology to enhance traditional industries and provide comprehensive smart solutions across various scenarios, including security management and public services[120]. - The organization will implement an "Amoeba" management model to empower frontline business units, improving resource allocation and operational efficiency[122]. - The company is committed to talent development through a structured management and training system, ensuring new employees meet competency standards within one year[123]. - The company will strengthen cultural identity through digital tools and platforms, fostering a cohesive and motivated organizational environment[124]. Compliance and Governance - The consolidated financial statements are prepared in accordance with all applicable Hong Kong Financial Reporting Standards and the Companies Ordinance[16]. - The audit committee confirmed compliance with applicable accounting principles and standards for the financial year ending December 31, 2024[136]. - The company has adhered to all applicable corporate governance codes during the reporting period, ensuring compliance with legal and regulatory requirements[134]. - The board of directors includes both executive and independent non-executive members, ensuring diverse governance[149]. Employee and Training - As of December 31, 2024, the company had 5,903 employees, with total employee costs amounting to approximately RMB 735.2 million for the reporting period[132]. - The company plans to enhance employee training programs using internal and external resources to improve skills in key operational areas[132]. Financial Reporting and Accounting - The consolidated financial statements are presented in Renminbi (RMB), with all values rounded to the nearest thousand[18]. - The group is currently analyzing new accounting requirements and assessing their impact on financial statements[15]. - The group has adopted new or revised Hong Kong Financial Reporting Standards effective from January 1, 2024, with no significant impact on current or past performance[10]. - The group assesses receivables impairment based on default risk and expected loss rates, which may affect the carrying amounts of trade and other receivables[21]. - The group tests goodwill and customer relationships for impairment annually, using value-in-use calculations that require estimates[23]. - The consolidated financial statements are measured on a historical cost basis, except for financial liabilities measured at fair value[17]. - The group has not early adopted any new or revised Hong Kong Financial Reporting Standards that are not yet effective[11]. Risks and Challenges - The group is subject to corporate income tax in China, requiring judgment in determining tax provisions and related payments[22]. - The company is actively monitoring foreign exchange risks and exploring hedging options with major banks due to its operations in RMB and the impact of HKD fluctuations since its H-share listing[130]. - The net impairment loss on financial assets was approximately RMB 79.3 million, compared to RMB 9.5 million for the year ended December 31, 2023, primarily due to the ongoing weakness in the real estate sector[99].

以下文章来源于清科研究 ，作者创造价值的 清科研究 . 清科创业（01945.HK）旗下清科研究中心致力于为众多的有限合伙人、VC/PE机构、战略投资者、以 及政府机构、律师事务所、会计事务所、投资银行、研究机构等提供专业的信息、数据、研究和咨询服 务。 年度盘点。 作者 | 清科研究 来源 | 清科研究 （ID：pedata2017） 01 整体回顾 02 市场分布 A股IPO总量同比收缩近七成，创业板上市企业数量相对较多 2024年中企IPO市场总体呈现出阶段性收缩态势，但下半年IPO活跃度环比有所回升。 根据清科创业（01945.HK）旗下清科研究中心统计，2024年中企境内外上市195家 【1】，同比下降51.1%，首发融资额约合人民币1442.66亿元【2】，同比下降 63.6%，上市企业数量和融资金额为近10年新低；其中，下半年有113家中企IPO，首 发融资额约合人民币973.53亿元，环比分别上升37.8%、107.5%。 分市场来看，2024年 A股 共有100家企业上市，同比下降68.1%； 境外市场 共95家 中企上市，同比上升10.5%，其中今年全市场首发融资额前三大中企IPO均于港股 ...

Revenue and Profitability - The group's revenue for the six months ended June 30, 2024, was approximately RMB 769.9 million, an increase of about 5.8% compared to RMB 727.7 million in the same period of 2023[15]. - The profit for the reporting period was approximately RMB 25.2 million, an increase of about 1.2% from RMB 24.9 million in the same period of 2023[15]. - The gross profit was approximately RMB 125.8 million, a decrease of about 4.2% from RMB 131.2 million in the same period of 2023, with a gross margin of approximately 16.3%, down by 1.7 percentage points from 18.0%[15]. - The revenue from "Beautiful Life Services" was approximately RMB 115.5 million, representing 15.0% of total revenue, a decrease of about 1.1% compared to the previous year[27]. - Revenue from foreign, technology, and medical integrated services was approximately RMB 192.0 million, accounting for 25.0% of total revenue, down from 27.0% in the previous year[31]. - The company reported a 13.9% increase in revenue from foreign integrated services to approximately RMB 93.3 million, up from RMB 82.0 million in the same period last year[30]. - Medical integrated services revenue increased by 16.1% to approximately RMB 38.9 million, compared to RMB 33.5 million in the previous year[30]. Dividends and Shareholder Returns - The company proposed an interim dividend of RMB 0.036 per share (tax included) for the six months ended June 30, 2024, compared to zero for the same period in 2023[15]. - A mid-term dividend of RMB 0.036 per share (tax included) is proposed for the six months ending June 30, 2024, compared to zero for the same period in 2023[72]. Property Management and Projects - As of June 30, 2024, the group managed 589 property projects across 74 cities in China, with a total managed building area of approximately 58.3 million square meters[16]. - The group has signed contracts to manage 649 property projects with a total building area of approximately 68.1 million square meters[16]. - The total number of projects managed increased to 363 as of June 30, 2024, compared to 307 in the same period of 2023[22]. - The managed building area from projects sourced from the Dima Group increased to approximately 17.5 million square meters, up about 11.0% from June 30, 2023[21]. - The managed building area from independent third-party projects reached approximately 28.5 million square meters, reflecting a 4.8% increase from June 30, 2023[21]. Financial Position and Assets - The total assets as of June 30, 2024, were RMB 974,898 thousand, a decrease from RMB 1,034,131 thousand as of December 31, 2023, representing a decline of about 5.7%[91]. - The company's total liabilities as of June 30, 2024, were RMB 476,474,000, reflecting a slight decrease from RMB 482,541,000 as of December 31, 2023[94]. - The company's total equity attributable to owners was RMB 500,300,000, an increase from RMB 493,439,000 as of December 31, 2023[94]. - The total trade receivables, notes receivable, and other receivables increased by approximately 8.5% to about RMB 747.3 million as of June 30, 2024, compared to approximately RMB 688.6 million as of December 31, 2023[49]. Cost and Expenses - The company’s cost of sales increased by approximately RMB 47.6 million or 8.0% to about RMB 644.1 million, primarily due to increased subcontracting costs for labor-intensive services[35]. - Selling and marketing expenses increased by approximately 4.6% to about RMB 18.3 million, compared to approximately RMB 17.5 million in the same period of 2023[41]. - Administrative expenses decreased by approximately 5.7% to about RMB 79.9 million, compared to approximately RMB 84.8 million in the same period of 2023[42]. Employee and Governance - As of June 30, 2024, the group had 5,496 employees, a decrease from 5,760 employees as of December 31, 2023, with total employee costs approximately RMB 356.8 million for the reporting period[57]. - The company is committed to high standards of corporate governance to enhance shareholder value and ensure compliance with applicable regulations[73]. - The board of directors is responsible for overseeing the company's operations and ensuring adherence to corporate governance policies[73]. Strategic Initiatives and Future Plans - The company aims to become a respected urban integrated service provider with unique business value, focusing on four major service areas: residential integrated services, international integrated services, medical integrated services, and urban integrated services[16]. - The group plans to accelerate the development of non-residential business lines, establishing a virtual expert team for integrated facility management services[66]. - The group will leverage new technologies such as AI, big data, and IoT to drive digital and intelligent transformation, enhancing service capabilities[65]. - The company aims to leverage strategic acquisitions and organic growth to solidify its market position and expand its property portfolio[21]. Acquisitions and Investments - The company completed the acquisition of approximately 90.73% of Shanghai Changqing Social Care Development Co., Ltd. on June 21, 2024, leading to a retrospective restatement of financial data for the year ended December 31, 2023[14]. - The company acquired approximately 90.73% of the equity of Shanghai Changqing Society on June 21, 2024, and restated its financial data for the year ending December 31, 2023[32]. Cash Flow and Liquidity - Cash and cash equivalents decreased to approximately RMB 133.8 million as of June 30, 2024, from approximately RMB 256.6 million as of December 31, 2023[54]. - The net cash used in operating activities for the six months ended June 30, 2024, was RMB (90,555,000), compared to RMB (65,765,000) for the same period in 2023, indicating a decline in cash flow from operations[95]. - The company incurred a net cash outflow from investing activities of RMB (19,281,000) for the six months ended June 30, 2024, compared to RMB (7,486,000) for the same period in 2023[95]. Shareholder Structure - As of June 30, 2024, Mr. Fan Dong holds 4,990,000 H shares, representing approximately 7.45% of the company's issued share capital[77]. - Tianjin Chengfang Enterprise Management Consulting Co., Ltd. owns 25,520,000 H shares, accounting for approximately 38.09% of the company's issued share capital[79]. - Chongqing Dima Ruisheng Industrial Co., Ltd. also holds 25,520,000 H shares, representing 38.09% of the total issued share capital[79]. - The total number of issued H shares as of June 30, 2024, is 66,990,867[82].

Revenue and Profit - The group's revenue for the six months ended June 30, 2024, was approximately RMB 769.9 million, an increase of about 5.8% compared to RMB 727.7 million for the same period in 2023[1]. - Revenue from property city services was approximately RMB 462.4 million, accounting for about 60.0% of total revenue, representing an increase of approximately 11.8% from RMB 413.5 million in the same period of 2023[1]. - Revenue from comprehensive services in foreign affairs, technology, and healthcare was approximately RMB 192.0 million, accounting for about 25.0% of total revenue, a decrease of approximately 2.5% from RMB 196.8 million in the same period of 2023[2]. - Profit for the reporting period was approximately RMB 25.2 million, an increase of about 1.2% from RMB 24.9 million in the same period of 2023[2]. - The group's operating profit was approximately RMB 25.4 million, compared to RMB 29.7 million in the same period of 2023[3]. - The company reported basic and diluted earnings per share of RMB 0.36 for the reporting period, compared to RMB 0.37 for the same period in 2023[3]. - The profit before income tax expense was RMB 23,943,000 for the six months ended June 30, 2024, compared to RMB 24,461,000 for the same period in 2023[22]. - The gross profit was approximately RMB 125.8 million, a decrease of about 4.2% from RMB 131.2 million in the same period of 2023, with a gross margin of approximately 16.3%, down by about 1.7 percentage points from 18.0%[2]. Dividends and Shareholder Information - The board proposed an interim dividend of RMB 0.036 per share (tax included) for the six months ended June 30, 2024, compared to zero for the same period in 2023[2]. - The interim dividend is subject to approval at the extraordinary general meeting on October 23, 2024, and is expected to be paid around December 23, 2024[96]. - The record date for eligibility to receive the proposed interim dividend, subject to shareholder approval, is set for October 28, 2024, at the end of business hours[99]. - A circular containing information regarding the proposed interim dividend and the notice of the extraordinary general meeting will be published by September 26, 2024[100]. Assets and Liabilities - Total assets less current liabilities amounted to RMB 595.3 million as of June 30, 2024, compared to RMB 606.3 million as of December 31, 2023[4]. - The net asset value was RMB 500.3 million as of June 30, 2024, down from RMB 506.9 million as of December 31, 2023[5]. - The total liabilities were RMB 922,145 thousand, with an increase of RMB 47,584 thousand due to merger accounting adjustments[37]. - The total current assets reached RMB 1,034,131 thousand, with an increase of RMB 17,535 thousand from prior reporting[36]. - The total trade payables as of June 30, 2024, were RMB 289,803 thousand, a decrease of 3.4% from RMB 300,132 thousand as of December 31, 2023[30]. - The provision for impairment of trade receivables and notes was RMB 744,629 thousand as of June 30, 2024, compared to RMB 680,278 thousand as of December 31, 2023, representing an increase of 9.5%[28]. Acquisitions and Business Combinations - The company acquired 90.73% of Shanghai Changqing Social Care Development Co., Ltd. from its parent company, Di Ma Industrial, on June 21, 2024, which is accounted for as a business combination under common control[6]. - The company also acquired 99% of Shanghai Xuanhai Technology Co., Ltd. from Shenzhen Di Rui Smart Technology Co., Ltd., another subsidiary of Di Ma Industrial, during the six months ended June 30, 2023[6]. - The company completed the acquisition of 99% equity in Shanghai Xuanhai for RMB 1, which was accounted for as a business combination[38]. - The company acquired approximately 90.73% of Shanghai Changqing Community Health Development Co., Ltd. on June 21, 2024, and restated financial data for the year ended December 31, 2023[55]. Operational Performance - The company managed 589 property projects across 74 cities in China, covering a total managed area of approximately 58.3 million square meters as of June 30, 2024[39]. - The company has signed contracts to manage 649 property projects in 78 cities, totaling approximately 68.1 million square meters[39]. - The company managed a total of 363 property projects across 58 cities in China, with a total managed building area of approximately 49.9 million square meters as of June 30, 2024[48]. - The total revenue from property urban services for the six months ended June 30, 2024, was RMB 462.4 million, with 363 projects and a total managed building area of 49,937 thousand square meters[49]. Financial Reporting and Compliance - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards and have been authorized for publication on August 22, 2024[7]. - The company has adopted the same accounting policies as in the 2023 annual financial statements, with no significant impact from new standards effective from January 1, 2024[11]. - The financial statements do not include all information required for a complete set of financial statements as per Hong Kong Financial Reporting Standards[9]. - The audit committee has reviewed the unaudited interim results for the six months ended June 30, 2024, confirming compliance with applicable accounting principles and full disclosure[93]. Employee and Management Information - The group has 5,496 employees as of June 30, 2024, down from 5,760 employees as of December 31, 2023[90]. - Total employee costs for the reporting period were approximately RMB 356.8 million, compared to RMB 355.6 million for the six months ended June 30, 2023[90]. - The board will consider compensation for directors and senior management based on comparable companies, time commitment, responsibilities, and the company's performance[90]. Strategic Focus and Future Plans - The company is focusing on enhancing service quality and expanding service scope, utilizing 16.5% of the net proceeds for this purpose, which has been fully utilized[86]. - The company is advancing its digital transformation through the integration of AI, big data, and IoT technologies, aiming to enhance service capabilities[81]. - The company plans to accelerate the development of non-residential business lines, establishing a virtual expert group for integrated facility management services[83]. - The organization is transitioning to a "platform + market-oriented" management model to improve operational efficiency and talent development[84].

Financial Performance - The total revenue for the group was approximately RMB 1,483.8 million, an increase of 10.0% compared to RMB 1,349.4 million for the year ended December 31, 2022[61]. - The company's total revenue for the year ended December 31, 2023, increased by approximately RMB 134.4 million or about 10.0% to approximately RMB 1,483.8 million, compared to approximately RMB 1,349.4 million for the year ended December 31, 2022[82]. - Gross profit was approximately RMB 211.8 million, a decrease of about 24.0% from approximately RMB 278.5 million for the year ended December 31, 2022, with a gross margin of about 14.3%, down approximately 6.3 percentage points from about 20.6%[30]. - The overall gross margin for the company dropped to 14.3% for the year ended December 31, 2023, down from 20.6% in the previous year[85]. - Profit before income tax expenses decreased by approximately 77.1% to about RMB 24.7 million, compared to approximately RMB 108.0 million for the year ended December 31, 2022, mainly due to reduced gross profit and the absence of one-time government subsidies[94]. Revenue Breakdown - The revenue from property urban services was approximately RMB 872.8 million, accounting for 58.8% of total revenue, representing an increase of about 33.0% compared to RMB 656.2 million for the year ended December 31, 2022[30]. - The revenue from foreign, technology, and medical integrated services was approximately RMB 389.0 million, accounting for about 26.3% of total revenue, a decrease of about 10.3% from RMB 433.7 million for the year ended December 31, 2022[38]. - The revenue from the "Beautiful Life Services" segment was approximately RMB 222.0 million, accounting for 14.9% of total revenue, a decrease of about 14.4% compared to the previous year[62]. - The revenue from foreign-related comprehensive services increased by approximately 13.5% to about RMB 177.2 million, compared to RMB 156.0 million in the previous year[78]. - Revenue from digital and intelligent technology services surged by approximately 231.2% to about RMB 23.0 million, up from approximately RMB 7.0 million in the same period last year, attributed to active business expansion and the resumption of project progress post-pandemic[105]. Customer and Supplier Relationships - The five largest customers accounted for 17.0% of total revenue during the reporting period, indicating a diversified customer base[3]. - The largest supplier accounted for 5.5% of total procurement, and the five largest suppliers together accounted for 16.5%, showing low supplier concentration[4]. - The largest customer accounted for 10.7% of total sales during the reporting period[19]. - The company recognizes the importance of maintaining good relationships with customers and has established procedures for handling customer complaints and conducting satisfaction surveys[5]. Dividends and Share Capital - The total share capital of the company as of December 31, 2023, is RMB 66,990,867, consisting of 66,990,867 H shares with a par value of RMB 1.00 each[7]. - The board of directors recommends a final cash dividend of RMB 0.03 per share (tax included) for the year ended December 31, 2023, compared to RMB 0.14 per share for the year ended December 31, 2022[10]. - The company will distribute the final dividend to non-resident corporate shareholders after withholding a 10% corporate income tax as required by Chinese tax law[11]. - A final cash dividend of RMB 0.03 per share is proposed for the year ending December 31, 2023, down from RMB 0.14 per share for the previous year[162]. Human Capital and Management - The company emphasizes the importance of human capital and is committed to providing a safe and fair workplace, competitive compensation, and professional development opportunities for employees[5]. - The company has established a remuneration committee to formulate compensation policies based on the qualifications, positions, and seniority of directors and senior management[2]. - The company has arranged appropriate liability insurance for directors and senior executives to protect them from potential liabilities arising from group activities[1]. - The board of directors has confirmed that no director has waived or agreed to waive any remuneration, and no remuneration has been paid as an incentive for joining the group[2]. - The total employee cost recognized during the reporting period was approximately RMB 709.3 million, up from RMB 628.4 million for the year ended December 31, 2022[143]. Business Strategy and Development - The company emphasizes a development strategy of "large property • full value" and aims to become a respected urban integrated service provider[41]. - The company has diversified its services through three main business lines, including community activity planning services and public facility maintenance services[42]. - The company will continue to expand its business portfolio and scale by building a high-quality team with strong incentives and assessments[127]. - The company plans to implement at least 10 AI application scenarios in market management by 2024, leveraging domestic and international large model technologies[129]. - The company will focus on a market development strategy tailored to each city, creating a market expansion ecological platform[150]. Financial Position and Investments - The company's cash and cash equivalents increased by approximately 15.2%, reaching about RMB 255.4 million as of December 31, 2023, compared to RMB 221.7 million as of December 31, 2022[140]. - The company's borrowings amounted to approximately RMB 9.3 million, with an interest rate ranging from 3.35% to 5.5%[125]. - Total equity increased by approximately 2.0% to about RMB 493.4 million as of December 31, 2023, compared to approximately RMB 483.7 million as of December 31, 2022[120]. - The group recorded a net other loss of approximately RMB 0.9 million during the reporting period, compared to a net other income of approximately RMB 9.3 million for the year ended December 31, 2022, primarily due to exchange rate fluctuations on HKD holdings[90]. - The company has no significant contingent liabilities or asset pledges as of December 31, 2023[145][146]. Operational Efficiency and Cost Management - The company is committed to enhancing supply chain management and implementing cost-saving measures through small technological improvements[155]. - The company's sales costs increased by approximately RMB 201.2 million or about 18.8% to approximately RMB 1,272.1 million for the year ended December 31, 2023, compared to RMB 1,070.9 million for the previous year[83]. - Administrative expenses rose by approximately 3.8% to about RMB 154.8 million, up from approximately RMB 149.1 million for the year ended December 31, 2022, mainly due to business growth and increased employee costs[92]. - Sales and marketing expenses increased from approximately RMB 32.3 million for the year ended December 31, 2022, to approximately RMB 37.0 million, driven by business growth and increased promotional personnel costs[91]. Corporate Governance - The board of directors consists of seven members, including two non-executive directors, two employee directors, and three independent non-executive directors[192]. - The board will continue to evaluate the use of net proceeds and may revise plans in response to changing market conditions[188]. - The financial director has been with the company since 2014 and oversees financial matters and daily operations[181]. - The employee supervisor has over seven years of experience in accounting and has been with the company since 2016[179]. - 蔡女士拥有超过25年的财务管理及投资相关经验，曾在多家金融服务公司任职[198].