智通财经APP讯，升辉清洁(02521)发布公告，于2025年4月28日，买方升辉清洁(香港)(本公司全资附属 公司)与卖方A订立买卖协议A，买方已有条件同意收购而卖方A已有条件同意出售待售股份A，代价为 900万港元;及买方与卖方A及卖方B订立买卖协议B，买方已有条件同意收购而卖方已有条件同意出售待 售股份B，代价为600万港元。 目标A富宇物业管理主要于香港从事提供物业管理服务。目标B富慧物业管理主要于香港从事提供物业 管理服务。 本集团主从事提供环保清洁及维护服务。诚如本公司日期为2023年11月27日的招股章程及本公司日期为 2024年12月13日的公告所披露，本集团拟收购中国清洁及维护服务供应商的目标;及投资或收购本集团 于中国或大湾区业务价值链的上游或下游潜在目标，此可为本集团带来整合及/或协同效应。考虑到物 业管理服务的长期稳定现金流;物业管理及清洁服务于价值链上乃紧密相关;将由目标公司管理的楼宇清 洁服务竞标机会，从而增加清洁合约的数量及来自位于香港的该等新增楼宇的收入;及董事会认为收购 事项将让本集团垂直扩展其业务版图，并扩大中国内地境外的收入来源。连同本公司日期为2024年9月3 日的公告 ...

Financial Performance - The total revenue for the year ended December 31, 2024, was approximately RMB 673.6 million, representing an increase of approximately 6.9% compared to RMB 630.2 million for FY2023[14]. - Gross profit for the Reporting Period amounted to approximately RMB 100.7 million, compared to approximately RMB 93.4 million for FY2023[14]. - The net profit after tax for the Reporting Period was approximately RMB 49.2 million, compared to an adjusted net profit of approximately RMB 39.9 million for FY2023, excluding non-recurring listing expenses of RMB 12 million[15]. - Revenue increased from approximately RMB630.2 million for FY2023 to approximately RMB673.6 million for FY2024, representing an increase of approximately 6.9%[34]. - The increase in revenue was primarily due to a rise in the number of projects in property cleaning services during the reporting period[37]. - Cost of services rose from approximately RMB536.7 million for FY2023 to approximately RMB572.9 million for FY2024, reflecting an increase of approximately 6.7%[35]. - Gross profit for the reporting period was approximately RMB100.7 million, compared to approximately RMB93.4 million for FY2023, with a stable gross profit margin of approximately 14.9%[36]. - Other income, gains, and losses decreased from approximately RMB6.4 million for FY2023 to approximately RMB2.4 million for FY2024, a decline of approximately 62.5%[40]. - Selling and marketing expenses decreased from approximately RMB5.1 million for FY2023 to approximately RMB4.0 million for FY2024, representing a decrease of approximately 21.6%[41]. - Income tax expenses rose from approximately RMB4.5 million for FY2023 to approximately RMB10.0 million during the Reporting Period, primarily due to deferred tax effects from fair value gains on financial assets[44][50]. - Net profit increased from approximately RMB27.9 million for FY2023 to approximately RMB49.2 million during the Reporting Period, with a net profit margin rising from 4.4% to 7.3%[45][51]. - Total employee benefit expenses increased to RMB 379.9 million in FY2024 from RMB 351.3 million in FY2023, representing an increase of approximately 8.5%[88]. Cash Flow and Capital Management - Cash and cash equivalents stood at approximately RMB 92.5 million as of December 31, 2024, indicating healthy cash flow[15]. - Cash, bank balances, and restricted bank deposits were approximately RMB92.5 million as of December 31, 2024, down from RMB150.4 million as of December 31, 2023[55][56]. - The Group issued 130,980,000 new shares at a price of HK$0.305 each, raising net proceeds of approximately HK$39.35 million for acquisitions and working capital[52][53]. - The company successfully offered 414,375,000 shares at HK$0.32 per share, raising approximately HK$73.5 million in net proceeds from the global offering[71]. - As of December 31, 2024, the unutilized net proceeds amounted to HK$50.2 million, with a full utilization expected by December 2026[74]. - The establishment of new branch offices is planned to utilize 48.9% of the total net proceeds, amounting to HK$36.0 million[74]. - Capital expenditure for the Reporting Period amounted to approximately RMB18.7 million, compared to RMB11.7 million for FY2023[59][65]. Business Expansion and Strategy - The company plans to expand its presence in both existing and new markets, leveraging its experience in cleaning and maintenance services[18]. - There is an intention to replicate the business model in other regions of the PRC with strong demand for property cleaning services[18]. - The company is exploring opportunities for potential acquisitions and investments in cleaning and maintenance service providers in the Greater Bay Area[18]. - The focus will also be on tendering for cleaning services in major infrastructures expected to be completed in the near future[18]. - Future business expansion will be supported by access to capital markets for fundraising through equity and/or debt[29]. - The company aims to explore opportunities in recycling waste materials and manufacturing environmentally friendly biodegradable materials[30]. - The investment in Best Technology (Shenzhen) Inc. (BTI) represents 19.5% of the shares held, with a carrying value of RMB101,160,000, accounting for approximately 17.7% of the total assets of the Group[80][81]. - The investment in BTI generated a fair value gain of RMB37,258,000 during the reporting period[81]. - The company aims to enhance its operational capabilities in waste management through the acquisition of BTI, which aligns with its growth strategy[82][83]. Corporate Governance and Management - The company acknowledges the support from shareholders, investors, and the community as integral to its development[19]. - The listing on the Main Board of The Stock Exchange of Hong Kong Limited on December 5, 2023, marks a significant milestone for the company[12]. - The Group's strategic planning and management are overseen by experienced executives, including Mr. Li Chenghua and Mr. Chen Liming, both of whom have over 24 years of experience in the cleaning service industry[92][98]. - The company is committed to achieving good corporate governance, focusing on creating long-term sustainable growth for shareholders and delivering long-term value to all stakeholders[137]. - The Board is responsible for overall strategic planning, management, operation, and business development of the Group[139]. - The Board meets regularly to monitor business development and financial performance of the Group[140]. - The company adopted all code provisions in the Corporate Governance Code as its own code on corporate governance practices[137]. - The company complied with the code provisions set out in part 2 of the CG Code, with the exception of code provision C.2.1[138]. - The company has a structured approach to risk management and operational plans[139]. - The management is responsible for the procurement of cleaning products and equipment of the Group[140]. - The company has a dedicated marketing director overseeing tendering and marketing activities[133]. - The administrative manager is responsible for overall supervision of operations and managing internal relationships[129]. - The procurement manager supervises and manages the procurement of cleaning products and equipment[131]. - The Board comprises two executive Directors and three independent non-executive Directors, ensuring a balanced governance structure[146]. - Four Board meetings were held during the year, with all executive Directors attending all meetings[150]. - Independent non-executive Directors provide independent views and input to support the Board's responsibilities[144]. - The Company has established mechanisms to ensure compliance with corporate governance practices and legal requirements[145]. - The Board reviews the effectiveness of risk management and internal control systems regularly[145]. - The Company emphasizes continuous professional development for Directors and senior management[145]. Director Appointments and Committees - Dr. Wang Hui appointed as independent non-executive Director on July 26, 2024, with over 25 years of experience in corporate finance and accounting[106]. - Ms. Cheung Bo Man appointed as independent non-executive Director on November 14, 2023, with over 12 years of experience in the legal industry[108]. - Ms. Yau Yin Hung appointed as independent non-executive Director on November 14, 2023, with approximately 13 years of experience in the banking industry[113]. - Mr. Xing Guojun serves as managing director of the Group, with approximately 20 years of managerial experience in the cleaning service industry[119]. - Dr. Wang is the chairperson of the audit committee and investment committee, ensuring independent judgement on key issues[106]. - Ms. Cheung is the chairperson of the remuneration committee, contributing to corporate governance[108]. - Ms. Yau is the chairperson of the nomination committee, overseeing the appointment of directors[113]. - Mr. Xing has been with the Group since November 2002, demonstrating long-term commitment and leadership[119]. - The Company has established a Nomination Committee comprising three Independent Non-Executive Directors (INEDs) to review the Board's structure and composition[174]. - The Nomination Committee is responsible for assessing the independence of INEDs and making recommendations for the appointment or re-appointment of Directors[175]. - The Remuneration Committee, comprising three INEDs, is responsible for recommending the Company's remuneration policy and structure for directors and senior management[167]. - The nomination committee held two meetings during the year ended December 31, 2024[191]. - The audit committee conducted five meetings in the year ended December 31, 2024[197]. - The investment committee met once during the year ended December 31, 2024[199]. - The audit committee is responsible for reviewing the Group's risk management and internal control systems, as well as financial reporting[193]. - The company established an audit committee comprising three independent non-executive directors[192]. - According to the Articles of Association, one-third of the directors must retire by rotation at each annual general meeting[189]. - Independent non-executive directors' terms are set for one year starting from December 5, 2023[194]. - Directors appointed to fill casual vacancies hold office until the first annual general meeting after their appointment[190]. - The Company will disclose the tenure of each existing INED if all have served more than nine years[185]. - If an INED has served more than nine years, their further appointment requires a separate resolution approved by Shareholders[184]. Employee Engagement and Development - The number of employees rose to 8,160 as of December 31, 2024, compared to 7,086 on December 31, 2023, indicating a growth of about 15.2%[88]. - The company has adopted a share option scheme to provide incentives or rewards to its staff, enhancing employee engagement and retention[88]. - Directors participated in continuous professional development activities, including training on corporate governance and directors' responsibilities[163]. - The Company ensures that one-third of all Directors retire by rotation at each annual general meeting[161]. - The Company has established a written procedure for Directors to seek external independent professional advice at reasonable costs[156]. - The Company has adopted a standard code of conduct for securities trading by Directors and related employees[170].

Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of RMB 673,558,000, representing an increase of 6.9% compared to RMB 630,172,000 in the previous year[3] - The gross profit for the same period was RMB 100,700,000, up from RMB 93,445,000, indicating a growth of 7.5%[3] - The net profit attributable to the owners of the company was RMB 49,226,000, which is a significant increase of 76.5% from RMB 27,889,000 in the prior year[3] - Basic and diluted earnings per share rose to RMB 3.02, compared to RMB 2.18 in the previous year, reflecting a growth of 38.5%[3] - Total income for the year ended December 31, 2024, was RMB 2,433,000, down from RMB 6,389,000 in 2023, indicating a decline of approximately 61.9%[15] - The total tax expense for the year ended December 31, 2024, was RMB 10,005,000, compared to RMB 4,501,000 in 2023, indicating an increase of approximately 122.3%[16] - Net financial income for the year ended December 31, 2024, was RMB 1,451,000, compared to a net financial expense of RMB 466,000 in 2023, showing a significant improvement[16] - Net profit increased from approximately RMB 27.9 million in FY2023 to approximately RMB 49.2 million in FY2024, with a net profit margin rising from 4.4% to 7.3%[39] Assets and Liabilities - Total assets increased to RMB 570,323,000, up from RMB 440,353,000, marking a growth of 29.5%[4] - The company's total equity attributable to owners rose to RMB 384,902,000, compared to RMB 298,818,000, an increase of 28.8%[4] - Current liabilities decreased to RMB 164,603,000 from RMB 135,301,000, indicating a reduction of 21.6%[4] - Trade receivables for the year ended December 31, 2024, amounted to RMB 292,599,000, an increase from RMB 241,856,000 in 2023, representing a growth of approximately 20.9%[22] - Trade payables decreased to RMB 19,991,000 in 2024 from RMB 31,193,000 in 2023, a reduction of approximately 36%[25] - The company had no significant contingent liabilities as of December 31, 2024[46] Operational Highlights - The company is focused on expanding its cleaning and maintenance services in mainland China, leveraging its strong market position[6] - The company has identified only one operating segment for strategic decision-making, focusing primarily on cleaning and maintenance services in China[12] - The company generated revenue primarily from property cleaning services, including commercial and residential buildings, as well as public space cleaning[30] - The company plans to expand its cleaning and maintenance services into other regions in China, leveraging its 20 years of industry experience[29] Corporate Governance and Structure - The company has not adopted any new accounting standards that would significantly impact its financial statements in the foreseeable future[8] - The company has adhered to the corporate governance code since its listing on December 5, 2023, with no deviations reported[59] - The board of directors includes two executive directors, Mr. Li Chenghua and Mr. Chen Liming, and three independent non-executive directors, Dr. Wang Hui, Ms. Zhang Baowen, and Ms. Qiu Yanhong[66] Capital and Investments - The company raised approximately RMB 37,419,000 from the placement of 130,980,000 shares at a price of HKD 0.305 per share[24] - The planned use of net proceeds includes 48.9% (HKD 36.0 million) for establishing new offices, expected to be fully utilized by December 2026[51] - Acquisition or investment in environmental cleaning and maintenance service providers accounts for 21.4% (HKD 15.7 million), with full utilization also expected by December 2026[51] - Strengthening cleaning services in public spaces represents 19.4% (HKD 14.3 million), with HKD 5.7 million already utilized and the remaining HKD 8.6 million expected to be used by December 2026[51] - The company has acquired 15,563,138 shares of Baishida, representing approximately 19.5% of its issued share capital, with a total purchase price of RMB 36.0 million[54] Employee and Welfare - Employee welfare expenses totaled RMB 379.9 million during the reporting period, an increase from RMB 351.3 million in the previous fiscal year[57] - The number of employees increased to 8,160 as of December 31, 2024, up from 7,086 the previous year[57] Market Position and Future Outlook - The company successfully listed on the Hong Kong Stock Exchange on December 5, 2023, enhancing its market reputation and business opportunities[26] - The board believes that the listing will improve the company's image and increase shareholder base, facilitating future capital market access[28] - The company aims to explore opportunities in recycling waste materials for packaging production and biodegradable materials[29] - There are no significant future investment or capital asset plans disclosed as of December 31, 2024[56]

Financial Performance - For the six months ended June 30, 2024, the total revenue was approximately RMB 325.8 million, representing an increase of approximately 9.2% from RMB 298.3 million for the same period in 2023[10][16]. - Gross profit for the six months ended June 30, 2024, was approximately RMB 32.0 million, down from RMB 47.2 million for the same period in 2023, resulting in a gross profit margin decrease from 15.8% to 9.8%[11][18]. - The increase in revenue was primarily driven by a higher number of projects in property cleaning services[16]. - Net profit decreased from approximately RMB 15.3 million for the six months ended June 30, 2023, to approximately RMB 10.2 million for the same period in 2024, with a net profit margin decline from 5.1% to 3.1%[32]. - Profit attributable to owners of the Company for the period was RMB 10,155,000, down from RMB 15,308,000, indicating a decline of approximately 33.5%[68]. - Basic earnings per share decreased to 0.62 RMB cents in 2024 from 1.22 RMB cents in 2023, reflecting a decline of about 49.2%[141]. Revenue Composition - Revenue from property cleaning services accounted for 96.0% of total revenue, while public space cleaning services accounted for 4.0%[15]. - All revenue for the period was derived from cleaning and maintenance services provided in China, with no individual customer contributing 10% or more of the total revenue[98]. Cost and Expenses - The cost of services increased from approximately RMB 251.1 million for the six months ended June 30, 2023, to approximately RMB 293.7 million for the same period in 2024, representing an increase of approximately 17.0%[17]. - Employee benefit expenses were a significant factor contributing to the decrease in gross profit margin[11][18]. - Selling and marketing expenses increased by approximately 29.6%, from RMB 2.7 million for the six months ended June 30, 2023, to RMB 3.5 million for the same period in 2024[23]. - General and administrative expenses decreased by 24.1%, from approximately RMB 24.0 million for the six months ended June 30, 2023, to approximately RMB 18.3 million for the same period in 2024[24]. - Employee benefit expenses for the six months ended June 30, 2024, totaled RMB 178.0 million, compared to RMB 166.0 million in FY2023[63]. Assets and Liabilities - As of June 30, 2024, the company's net assets amounted to approximately RMB 309.0 million, up from RMB 298.8 million as of December 31, 2023[33]. - Total assets as of June 30, 2024, amounted to RMB 452,582,000, an increase from RMB 440,353,000 as of December 31, 2023, representing a growth of about 2.8%[71]. - Current liabilities increased slightly to RMB 137,507,000 from RMB 135,301,000, indicating a rise of about 1.6%[73]. - Trade receivables as of June 30, 2024, were RMB 285,948,000, up from RMB 241,856,000 as of December 31, 2023, reflecting an increase of about 18.2%[147]. Cash Flow - For the six months ended June 30, 2024, the net cash used in operating activities was RMB (55,722) thousand, a significant increase from RMB (4,563) thousand in the same period of 2023, indicating a decline in operational cash flow[79]. - The net cash generated from financing activities was RMB 10,938 thousand, a substantial increase from RMB 1,553 thousand in the prior year, primarily due to proceeds from bank borrowing of RMB 11,790 thousand[79]. - Cash and cash equivalents at the end of the period were RMB 99,236 thousand, up from RMB 49,858 thousand at the end of June 2023, indicating improved liquidity[79]. Strategic Plans - The company plans to expand its presence in both existing and new markets, leveraging its experience in cleaning and maintenance services[12]. - Future growth strategies include potential acquisitions and investments in cleaning service providers in the Greater Bay Area to enhance geographic reach[12]. - The company aims to replicate its business model in other regions of China with strong demand for property cleaning services[12]. Shareholder Information - The Group's controlling shareholders, Mr. Li and Mr. Chen, each hold a significant interest of 36.095% in the company, indicating strong ownership concentration[176]. - The total number of shares held by controlling shareholders is 1,173,087,500, which includes shares from both Prosperity Cleanness and Sunrise Cleanness[185]. - The company is owned 36.095% by each of Prosperity Cleanness and Sunrise Cleanness, both of which are wholly owned by Mr. Li and Mr. Chen respectively[184]. Management and Governance - Mr. Chen has over 23 years of management experience in the cleaning service industry and has been instrumental in the growth of the Group since its establishment in August 2000[2]. - The Group's strategic management and business strategies are overseen by Mr. Chen, who also serves as a director for its subsidiaries[3]. - The company has maintained a strong governance structure with a clear delineation of responsibilities among its executive directors[8].

Revenue and Profitability - Revenue for the six months ended June 30, 2024, was RMB 325,779,000, an increase of 9.4% compared to RMB 298,251,000 for the same period in 2023[2] - Net profit attributable to owners of the company was RMB 10,155,000, down 33.6% from RMB 15,308,000 in 2023[2] - Basic and diluted earnings per share decreased to RMB 0.62, compared to RMB 1.22 in the previous year[2] - Revenue from property cleaning services accounted for 96.0% of total revenue, while public space cleaning services contributed 4.0%[43] - Revenue increased from approximately RMB 298.3 million for the six months ended June 30, 2023, to approximately RMB 325.8 million for the six months ended June 30, 2024, representing a growth of about 9.2%[44] Costs and Expenses - Gross profit decreased to RMB 32,038,000, down 32.1% from RMB 47,177,000 in the previous year[2] - Operating profit was RMB 11,451,000, a decline of 35.1% from RMB 17,624,000 in the same period last year[2] - Employee benefits expenses, including director remuneration, totaled RMB 169,899,000, up from RMB 158,123,000, reflecting a year-on-year increase of 7.1%[18] - The total cost of subcontracted labor increased to RMB 99,733,000 from RMB 85,939,000, representing a rise of 15.9%[18] - Service costs rose from approximately RMB 251.1 million to approximately RMB 293.7 million, an increase of about 17.0%, primarily due to increased employee benefits and subcontractor labor costs[45] Assets and Liabilities - Total assets as of June 30, 2024, amounted to RMB 452,582,000, an increase from RMB 440,353,000 at the end of 2023[3] - The company reported a total liability of RMB 143,609,000, slightly up from RMB 141,535,000 at the end of 2023[4] - Trade receivables as of June 30, 2024, were RMB 285,948,000, an increase of 18.2% from RMB 241,856,000 as of December 31, 2023[30] - The net amount of trade and other receivables and prepayments was RMB 305,043,000 as of June 30, 2024, compared to RMB 249,476,000 as of December 31, 2023, indicating a growth of 22.3%[30] Taxation and Financial Management - The income tax expense for the six months ended June 30, 2024, was RMB 1,113,000, compared to RMB 2,119,000 in the same period of 2023, indicating a decrease of 47.4%[21] - Guangzhou Shenghui has renewed its high-tech enterprise certification, allowing it to enjoy a preferential tax rate of 15% until December 28, 2026[22] - The group is eligible for an additional tax deduction of up to 100% on qualifying R&D expenses starting from the fiscal year 2023[23] Corporate Strategy and Market Focus - The company continues to focus on expanding its cleaning and maintenance services in China, with ongoing investments in new technologies and service enhancements[5] - The company plans to expand its business model to other regions in China with high demand for property cleaning services, leveraging its experience in the cleaning and maintenance sector[42] - The company aims to explore opportunities for acquisitions and investments in cleaning and maintenance service providers in the Greater Bay Area to broaden its customer base[42] Shareholder Information - The company has not declared or paid any dividends for the periods ended June 30, 2024, and June 30, 2023[24] - The weighted average number of ordinary shares issued increased to 1,625,000,000 for the six months ended June 30, 2024, from 1,251,250,000 for the same period in 2023[26] Governance and Compliance - The company adhered to corporate governance standards, with the chairman also serving as the CEO, which the board believes is beneficial for strong leadership[53] - There were no significant events after the reporting period that would require adjustments to the financial statements[40]

Financial Performance - Shenghui Cleanness Group Holdings Limited recorded total revenue of approximately RMB 630.2 million for the year ended December 31, 2023, representing an increase of approximately 6.1% compared to RMB 594.2 million for FY2022[11]. - Gross profit for the Reporting Period amounted to approximately RMB 93.4 million, slightly down from approximately RMB 94.4 million for FY2022[11]. - Adjusted net profit after tax, excluding non-recurring listing expenses of approximately RMB 12.0 million, was approximately RMB 39.9 million, compared to approximately RMB 42.248 million for FY2022[12]. - Revenue from property cleaning services accounted for approximately 96.3% of total revenue in FY2023, amounting to RMB606.7 million[31]. - The cost of services increased from approximately RMB499.8 million for FY2022 to approximately RMB536.7 million for FY2023, representing an increase of approximately 7.4%[32]. - Gross profit for FY2023 was approximately RMB93.4 million, with a gross profit margin of approximately 14.8%, compared to approximately 15.9% for FY2022[33]. - Other income rose from approximately RMB 5.1 million in FY2022 to approximately RMB 6.4 million during the Reporting Period, marking an increase of approximately 25.1%[37]. - Selling and marketing expenses increased from approximately RMB 4.0 million in FY2022 to approximately RMB 5.1 million during the Reporting Period, reflecting a rise of approximately 29.2%[38]. - General and administrative expenses grew from approximately RMB 51.1 million in FY2022 to approximately RMB 61.1 million during the Reporting Period, an increase of 19.7%[39]. - Net profit decreased from approximately RMB 34.4 million in FY2022 to approximately RMB 27.9 million during the Reporting Period, with a net profit margin dropping from 5.8% to 4.4%[42]. - As of December 31, 2023, the Group's net assets amounted to approximately RMB 298.8 million, up from RMB 177.0 million on December 31, 2022[49]. - Cash, bank balances, and restricted bank deposits totaled approximately RMB 150.4 million as of December 31, 2023, compared to RMB 56.5 million as of December 31, 2022[50]. - Total employee benefit expenses for the reporting period were RMB351.3 million, an increase from RMB324.1 million in FY2022, with the number of staff rising to 7,086 from 6,347[78][83]. Market Expansion and Strategy - The company plans to expand its presence in both existing and new markets, leveraging its experience in cleaning and maintenance services[15]. - Shenghui Cleanness Group aims to replicate its business model in other regions of the PRC with strong demand for property cleaning services[15]. - The company is exploring opportunities for potential acquisitions and investments in cleaning and maintenance service providers in the Greater Bay Area[15]. - The company aims to participate in tenders for cleaning services for major infrastructures to be completed in the near future[27]. - The public listing on the Hong Kong Stock Exchange is expected to enhance the company's corporate profile and brand awareness, providing a broader shareholder base[26]. Corporate Governance - The company is committed to achieving good corporate governance, focusing on creating long-term sustainable growth for shareholders and delivering long-term value to all stakeholders[133]. - The company complied with the code provisions set out in part 2 of the Corporate Governance Code from the listing date on December 5, 2023, to December 31, 2023, with one exception noted[134]. - The Board is responsible for overall strategic planning, management, operation, and business development of the group, aiming to enhance shareholder value[135]. - The Board meets regularly to monitor business development and financial performance, delegating certain duties to management for operational oversight[136]. - The company has adopted all provisions of the Corporate Governance Code as per the Listing Rules, except for C.2.1, which will be explained further in the report[137]. - The Board comprises two executive Directors and three independent non-executive Directors, ensuring a balance of power and independent oversight[141]. - Independent non-executive Directors have confirmed their independence under Rule 3.13 of the Listing Rules, ensuring compliance with governance standards[145]. - The Company established a Remuneration Committee comprising three Independent Non-Executive Directors (INEDs) to oversee remuneration policies and structures[153]. - The Nomination Committee consists of three INEDs and is responsible for reviewing the Board's structure, size, and composition, as well as assessing the independence of INEDs[160]. - The Company adopted the Model Code for Securities Transactions by Directors, ensuring compliance by all Directors since the Listing Date[152]. Leadership and Management - Mr. Li has over 25 years of management and operational experience in the cleaning service industry, contributing to the group's development since its founding in August 2000[89]. - Mr. Chen has over 23 years of management and operational experience in the cleaning service industry and has been instrumental in the group's growth since its establishment[92]. - The company has a strong leadership team with members who have completed advanced business management courses, including EMBA programs at Sun Yat-sen University[94]. - The leadership team is responsible for strategic planning, management, operations, and business development within the group[88]. - The roles of Chairman and Chief Executive Officer are currently held by the same individual, Mr. Li Chenghua, which the Board believes provides strong and consistent leadership[147]. Financial Management - The company maintains a prudent treasury policy, closely monitoring its liquidity to meet funding requirements[68]. - The majority of the company's financial assets and liabilities are denominated in RMB, with minimal foreign exchange risk exposure[69]. - The company confirmed its responsibility for overseeing the preparation of consolidated financial statements to ensure they reflect a true and fair view of the group's financial position[195]. - The auditor's fees for the reporting period included approximately HKD 1,350,000 for annual audit fees, HKD 650,000 for other assurance services, and HKD 50,000 for non-audit services[196]. Community Engagement - The company has a commitment to community service, as evidenced by Ms. Chong receiving The Medal of Honour from the Hong Kong government in 2014[102].

Financial Performance - For the year ended December 31, 2023, the total revenue was RMB 630,172,000, representing an increase of 6.06% compared to RMB 594,204,000 in 2022[4] - The gross profit for the same period was RMB 93,445,000, slightly down from RMB 94,409,000 in 2022, indicating a decrease of 1.02%[4] - Operating profit decreased to RMB 32,856,000 from RMB 40,290,000, reflecting a decline of 18.4% year-on-year[4] - The net profit attributable to the owners of the company was RMB 27,889,000, down from RMB 34,389,000, a decrease of 18.8%[4] - Basic and diluted earnings per share were RMB 2.18, compared to RMB 2.75 in the previous year, a decline of 20.73%[4] - Total net other income for 2023 was RMB 6,389,000, compared to RMB 5,109,000 in 2022, indicating an increase of about 25.03%[16] - The company's basic earnings per share for 2023 was RMB 2.18, down from RMB 2.75 in 2022, reflecting a decrease of approximately 20.73%[21] - Net profit decreased from approximately RMB 34.4 million in fiscal year 2022 to approximately RMB 27.9 million in the reporting period, with a net profit margin of 4.4%[47] Assets and Liabilities - Total assets increased to RMB 440,353,000 from RMB 316,174,000, marking a growth of 39.2%[6] - Cash and cash equivalents rose significantly to RMB 148,573,000 from RMB 54,722,000, an increase of 171.5%[6] - The total equity attributable to the owners of the company increased to RMB 298,818,000 from RMB 177,032,000, a growth of 68.5%[6] - Trade and other receivables increased to RMB 249,476,000 from RMB 228,923,000, reflecting a rise of 8.95%[6] - Trade receivables increased to RMB 241,856,000 in 2023 from RMB 220,774,000 in 2022, marking an increase of about 9.55%[24] - Trade and other payables totaled RMB 113,699,000 in 2023, slightly up from RMB 111,755,000 in 2022, showing a growth of approximately 1.74%[27] - The company reported a financial expense net amount of RMB (466,000) in 2023, compared to RMB (422,000) in 2022, indicating an increase in financial expenses of about 10.43%[17] - The company recorded a current tax expense of RMB 4,611,000 for 2023, down from RMB 6,108,000 in 2022, representing a decrease of approximately 24.51%[18] - The company’s deferred tax expense for 2023 was RMB (110,000), compared to RMB (629,000) in 2022, indicating a reduction in deferred tax expenses[18] Operational Strategy - The company plans to continue expanding its cleaning and maintenance services in China, focusing on enhancing operational efficiency and exploring new market opportunities[7] - The company plans to expand its services into other regions in China with strong demand for property cleaning services and explore potential acquisitions in the Greater Bay Area[36] - The company aims to enhance its service capabilities and market influence through organic growth and strategic partnerships[36] Market Position and Governance - The company successfully listed on the Hong Kong Stock Exchange on December 5, 2023, enhancing its brand visibility and market reputation[35] - The audit committee has reviewed the financial performance for the reporting period and found no objections[73] - The company has adhered to the corporate governance code, with the chairman also serving as the CEO, which is deemed beneficial for strong leadership[67] Employee and Expenditure - Employee benefits expenses totaled RMB 351.3 million, up from RMB 324.1 million in the previous fiscal year, reflecting increased workforce costs[65] - The number of employees increased to 7,086 from 6,347 year-over-year, indicating growth in operational capacity[65] - Capital expenditures for the reporting period were approximately RMB 11.7 million, a significant increase from RMB 1.9 million in the previous fiscal year[51] Financial Management - The company maintains a cautious treasury policy, closely monitoring liquidity to meet financial obligations[55] - There are no significant foreign exchange risks as most financial assets and liabilities are denominated in RMB[56] - The company has not engaged in any foreign currency hedging activities but will consider it if exposure becomes significant[56] - The company has no major investments or acquisitions planned beyond those disclosed in the prospectus as of December 31, 2023[64] - The company did not declare or pay any dividends for the years ended December 31, 2023, and 2022[18] - The company has not declared a final dividend for the reporting period[71]