Core Viewpoint - Xingyue Kanglv (03662) anticipates a significant decline in profit for the six months ending June 30, 2025, projecting a profit attributable to shareholders of at least RMB 23 million, compared to approximately RMB 81.6 million in the same period of 2024 [1] Group 1 - The board attributes the profit decline primarily to strategic adjustments made in response to the ongoing downturn in the real estate market and economy, leading to the decision to exit low-profit, high-risk projects and to make sufficient provisions for receivables, resulting in reduced operational scale and profit [1] - Several subsidiaries acquired in previous years have experienced a contraction in operational scale due to the aforementioned strategic adjustments, necessitating impairment losses on goodwill [1] - To enhance owner satisfaction and address intensified market competition, the company has increased resource allocation to managed projects and continues to optimize property service quality [1] Group 2 - The company expects that the impact of the strategic adjustments on its performance, including the reduction in profit, will stabilize over the next one to two years [1]

Core Viewpoint - Xingyue Kanglv (03662.HK) expects a significant decline in profit for the six months ending June 30, 2025, projecting a profit attributable to shareholders of no less than RMB 23 million, compared to approximately RMB 81.6 million for the same period in 2024 [1] Group 1 - The decline in profit is primarily attributed to the company's strategic adjustments in response to the ongoing downturn in the real estate market and the economy, leading to the exit from low-profit, high-risk projects [1] - The company has made sufficient provisions for receivables related to the projects affected by the strategic adjustments, resulting in a decrease in operational scale and profit [1] - Several subsidiaries acquired in previous years have experienced a contraction in operational scale due to the strategic adjustments, necessitating impairment losses on goodwill [1] Group 2 - To enhance owner satisfaction and address intensified market competition, the company has increased resource allocation to managed projects and continues to optimize property service quality [1] - The company anticipates that the impact of the strategic adjustments on performance will stabilize over the next one to two years [1]

Core Viewpoint - Xingyue Kanglv (03662) expects a significant decline in profit for the six months ending June 30, 2025, projecting a profit attributable to shareholders of no less than RMB 23 million, compared to approximately RMB 81.6 million for the same period in 2024 [1] Group 1 - The board attributes the profit decline primarily to strategic adjustments made in response to the ongoing downturn in the real estate market and economy, which included exiting low-profit, high-risk projects and making sufficient provisions for receivables [1] - Several subsidiaries acquired in previous years have experienced reduced operational scale due to the aforementioned strategic adjustments, necessitating impairment losses on goodwill [1] - To enhance owner satisfaction and address intensified market competition, the company has increased resource allocation to managed projects and is continuously optimizing property service quality [1] Group 2 - The company anticipates that the impact of the strategic adjustments on its performance will stabilize over the next one to two years [1]

星 悅 康旅股份有限公司 Starjoy Wellness and Travel Company Limited （於開曼群島註冊成立的有限責任公司） （股份代號：3662） 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之內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 表 明 概 不 就 因 本 公 告 全 部 或 任 何 部 份 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 之 任 何 損 失 承 擔 任 何 責 任。 盈利警告 本公告乃由星 悅 康 旅 股 份 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」） 根據香港聯合交易所有限公司證券上市規則第13.09(2)(a)條及香港法例第571章 證券及期貨條例第XIVA部 項 下 之 內 幕 消 息 條 文（定 義 見 上 市 規 則）而 作 出。 本 公 司 董 事（「董 事」）會（「董事會」）謹 此 通 知 本 公 司 股 東（「股 東」）及 潛 在 投 資 者， 根 據 對 本 集 團 截 至 二 零 二 五 年 六 月 三 十 日 止 六 個 月 之 ...

Core Viewpoint - Xingyue Kanglv (03662.HK) announced that its board meeting will be held on August 28, 2025, to approve the interim results for the six months ending June 30, 2025, and to consider the distribution of an interim dividend, if any, along with other matters [1] Group 1 - The board meeting is scheduled for August 28, 2025 [1] - The meeting will address the approval of the interim results for the six months ending June 30, 2025 [1] - The board will also consider the distribution of an interim dividend, if applicable [1]

於 本 公 告 日 期，執 行 董 事 為 王 吉 人 先 生 及 梁 金 蓉 女 士；非 執 行 董 事 為 阮 永 曦 先 生、金 民 豪 先 生 及 江 楠 女 士；以 及 獨 立 非 執 行 董 事 為 洪 嘉 禧 先 生、李 子 俊 醫 生 及 王 韶 先 生。 3662_Starjoy (奧 園) 悅字用以下字款 Ryo Text PlusN_M 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 星 悅 康旅股份有限公司 Starjoy Wellness and Travel Company Limited （於開曼群島註冊成立的有限責任公司） （股份代號：3662） 董事會會議召開日期 星 悅 康 旅 股 份 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱 為「本集團」）董 事（「董 事」）會（「董事會」）謹 此 宣 佈，董 事 會 會 議 將 於 二 零 二 五 年 ...

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: 星悅康旅股份有限公司 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 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 03662 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 0.01 | HKD | | 100,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 10,000,000,000 | HKD | | 0.01 | HKD | | 100,000,000 | 本月底法定/ ...

Financial Performance - For the year ended December 31, 2024, the company achieved a revenue of approximately RMB 1,355.3 million, a decrease of 13.3% from RMB 1,563.0 million in 2023[13] - Net profit for the year was RMB 86.3 million, down from RMB 149.2 million in 2023, indicating a decline of approximately 42.2%[13] - The Group's total revenue for the year was approximately RMB 1,355.3 million, a decrease of approximately RMB 207.7 million or 13.3% compared to RMB 1,563.0 million in the previous year[81] - Revenue from property management services contributed approximately 88.8% to total revenue, while commercial operational services contributed approximately 11.2%[81] - Revenue from the property management services segment decreased by approximately RMB 199.7 million or 14.2%, with major owner value-added services declining by approximately 70.8%[85] - The revenue from community value-added services decreased by approximately RMB 55.3 million or 24.5% due to strategic adjustments in the Group's project management[85] - Revenue from commercial operational services decreased by approximately RMB 8.0 million or 5.0%, primarily due to a decrease in revenue from commercial operation and management services[93] - The total revenue for 2024 was approximately RMB 152.1 million, a decrease of approximately RMB 8.0 million or 5.0% compared to RMB 160.1 million in 2023[96] Profitability and Margins - Gross profit for 2024 was approximately RMB 385.0 million, with a gross profit margin of approximately 28.4%, representing a year-on-year increase of approximately 2.8 percentage points[21] - The gross profit for the Group was approximately RMB 385.0 million, representing a decrease of approximately RMB 14.6 million or 3.6% from RMB 399.6 million in the previous year, with a gross profit margin of 28.4%[102] - The gross profit from the property management services segment was approximately RMB 328.4 million, with a gross profit margin of 27.3%[102] - The gross profit from the commercial operational services segment was approximately RMB 56.6 million, with a gross profit margin of 37.2%[102] Cost Management - Administrative expenses decreased by approximately 32.7% to RMB 91.7 million, reflecting effective cost control measures[21] - Administrative expenses decreased by approximately 44.5 million or 32.7%, totaling approximately RMB 91.7 million compared to RMB 136.2 million in the previous year[109] - The Group has implemented a dual-pronged strategy of revenue expansion and cost control, optimizing business processes to reduce operating costs[43] Cash Flow and Assets - Operating cash flow increased by approximately 32.4% to RMB 140 million, enhancing cash flow security for the company[21] - Total assets as of December 31, 2024, were RMB 2,358.7 million, an increase from RMB 2,280.5 million in 2023[20] - The total liabilities decreased slightly to RMB 1,114.1 million from RMB 1,128.0 million in 2023[20] - The current ratio improved to 1.68 as of December 31, 2024, compared to 1.60 as of December 31, 2023[117] - The Group's net assets increased to approximately RMB 1,244.6 million as of December 31, 2024, compared to approximately RMB 1,152.5 million as of December 31, 2023, reflecting a growth of about 8%[122] Business Segments and Services - The property management services segment generated revenue of RMB 1,027.1 million, down from RMB 1,158.8 million in 2023, a decline of approximately 11.3%[20] - The commercial operational services segment reported revenue of RMB 152.1 million, a decrease of approximately 5.0% from RMB 160.1 million in 2023[20] - The Group is actively exploring new business models such as cultural tourism and healthcare to diversify its business portfolio and expand revenue channels[23] - The Group is committed to maintaining high-quality property management services, ensuring a consistent and stable positive trajectory in operations[27] - The Group's comprehensive service models include boutique residential communities, commercial complexes, apartments, office buildings, villas, and tourist towns[27] Strategic Initiatives - The Group is focusing on quality improvement in property services, optimizing operational processes, and enhancing personnel competence to ensure stable project performance[27] - The Group is leveraging big data analysis for precise targeting and personalized services, breaking through traditional marketing limitations[32] - The Group is actively promoting the "Property +" innovative model, integrating cultural tourism and healthcare resources to enhance property owners' satisfaction and open new revenue streams[37] - The Group is exploring integrated cultural tourism and healthcare services in established commercial projects, aiming for seamless integration and synergies[39] - The Group aims to optimize resource allocation and strengthen cost control to build a healthier and more sustainable profit model[38] Leadership and Governance - The company has a strong leadership team with diverse backgrounds in finance, management, and corporate governance[168][170] - The board includes both executive and non-executive directors, ensuring a balance of oversight and operational expertise[168] - The company is focused on expanding its market presence and enhancing its operational capabilities through strategic leadership[170] - The Company has adopted the Corporate Governance Code as the basis for its corporate governance practices[189] - The Board is currently comprised of two executive Directors, three non-executive Directors, and three independent non-executive Directors, ensuring a balance of power[194] Employee and Operational Efficiency - As of December 31, 2024, the Group had 1,895 employees, down from 2,168 in 2023, with staff costs of approximately RMB 245.4 million[156] - The Group's employee costs decreased from RMB 331.5 million in 2023 to RMB 245.4 million in 2024[159] - The Group plans to enhance service capabilities through targeted training and improving customer service staff quality, aiming for a more professional and friendly service image[69] - The Group is focusing on the quality improvement of its property management team to ensure a warm and harmonious living environment for property owners[71]

Financial Performance - Total revenue for the year ended December 31, 2024, was approximately RMB 1.355 billion, a decrease of about 13.3% year-on-year[4]. - Net profit for the same period was approximately RMB 86.3 million, down about RMB 63 million or approximately 42.2% year-on-year[4]. - Gross profit was approximately RMB 385 million, a decrease of about RMB 14.6 million, with a gross margin of approximately 28.4%, an increase of about 2.8 percentage points year-on-year[4]. - The total comprehensive income for the year was RMB 92.8 million, down from RMB 167 million in the previous year[6]. - Basic and diluted earnings per share for the year were RMB 7, compared to RMB 13.25 in the previous year[6]. - The operating profit for the year was RMB 110,358 thousand, compared to RMB 194,578 thousand in 2023, reflecting a decrease of 43.2%[24]. - The company’s net profit for the year ended December 31, 2024, was RMB 96,216,000, a decrease of 38.7% compared to RMB 157,137,000 in 2023[31]. - The gross profit for the year was approximately RMB 385.0 million, a decrease of about RMB 14.6 million or approximately 3.6% from last year's RMB 399.6 million, with a gross margin of approximately 28.4%, up from 25.6%[80]. Revenue Breakdown - Property management services revenue decreased to RMB 1,027,106 thousand from RMB 1,158,834 thousand, representing a decline of 11.3%[17]. - Revenue from property management services was RMB 1,203,224 thousand, down from RMB 1,402,929 thousand in the previous year, representing a decline of 14.2%[24]. - The property management services segment accounted for approximately 88.8% of total revenue, while the commercial operations segment contributed about 11.2%[68]. - Revenue from the property management services segment decreased by approximately RMB 199.7 million or 14.2%, with a significant drop in community value-added services by about RMB 55.3 million or 24.5%[69]. - The commercial operations segment's revenue decreased by approximately RMB 8.0 million or 5.0% compared to the previous year[68]. - The total revenue for the commercial operation services segment in 2024 was RMB 152,058 thousand, down from RMB 160,081 thousand in 2023, reflecting a decrease of RMB 8,023 thousand or 5.0%[77]. Cash Flow and Financial Health - Operating cash flow increased to approximately RMB 140 million, up about 32.4% year-on-year, indicating improved cash flow safety[4]. - The company reported a significant increase in cash flow safety, which is expected to support future growth initiatives[4]. - The company has adopted a refined financial management strategy, strengthening accounts receivable management to ensure stable cash flow[42]. - The expected credit loss model resulted in a provision of RMB 394,194,000 for trade receivables in 2024, an increase of 92.1% from RMB 204,810,000 in 2023[38]. - The asset-liability ratio was 0.47 as of December 31, 2024, compared to 0.49 on December 31, 2023[100]. - The company has no significant contingent liabilities as of December 31, 2024[99]. Cost Management - Administrative expenses were approximately RMB 91.7 million, a decrease of about 32.7% year-on-year, reflecting effective cost control and efficiency optimization[4]. - Total employee costs amounted to RMB 245,413,000 in 2024, down 26.0% from RMB 331,507,000 in 2023[31]. - The total administrative costs for the year were RMB 13,052 thousand, slightly down from RMB 14,811 thousand in 2023[24]. - The company’s total liabilities decreased to RMB 1,092,881 thousand from RMB 1,103,406 thousand, a decrease of 0.9%[10]. Strategic Initiatives and Future Outlook - The company expects financial impacts from strategic adjustments to stabilize, with enhanced project sustainability and improved cash flow management[4]. - The group is actively pursuing business expansion in cultural tourism, health care, and international markets while maintaining stable development in existing property management and commercial operations[44]. - The group plans to continue expanding its property management and commercial operation services in China to enhance revenue streams[20]. - By 2025, the group will focus on a service philosophy centered around owners and customers, optimizing profit structures and enhancing financial management to ensure sustainable growth[53]. - The group aims to enhance consumer experience by creating immersive shopping journeys tailored to diverse consumer needs, exemplified by events like the "Fantasy Light Festival" which significantly extends customer dwell time and increases spending opportunities[52]. Corporate Governance - The board is committed to high standards of corporate governance, believing it is essential for protecting shareholder interests and enhancing corporate value[121]. - The company has adopted a set of policies and procedures based on the corporate governance code to strengthen the board's governance capabilities[123]. - The board consists of two executive directors, three non-executive directors, and three independent non-executive directors, ensuring a proper balance of power[123]. - The company has complied with all applicable provisions of the corporate governance code, except for a specific deviation regarding the roles of chairman and CEO[123]. Employee and Operational Metrics - As of December 31, 2024, the company had 1,895 employees, down from 2,168 employees as of December 31, 2023, with employee costs for 2024 estimated at approximately RMB 245.4 million[110]. - The group provides property management services for 255 properties across 67 cities in 22 provinces and municipalities in China, covering a total managed area of approximately 3.64 million square meters[44]. - As of December 31, 2024, the group offers commercial operation services in 15 shopping malls/offices across 10 cities, with a total managed building area of approximately 606,000 square meters[50].

Business Strategy and Operations - The Group is a renowned property management services provider in the PRC, focusing on diversifying service offerings to meet evolving customer demands[7]. - The Group's strategy includes providing a full range of commercial operational services for mid to high-end properties and mixed-use developments[8]. - The Group's business strategy is guided by the principles of service, pleasure, and harmony, aiming for better development paths[8]. - The Group's principal businesses include diversified property management services for both residential and non-residential properties[7]. - The Group's commercial operations encompass the entire commercial property chain, including planning, design, consultation, tenant sourcing, and asset management, aiming for sustainable operation and diversified revenue streams[22]. - The Group is implementing differentiated business strategies for various property types, promoting refined management through the "One Project, One Policy" approach to enhance operational performance[30]. - The Group's focus on industrial synergy has revitalized shopping mall membership resources and offline traffic, transforming property owners into loyal customers[22]. - The Group aims to enhance its financial management strategy and profit structure, projecting robust and sustainable earnings growth in the second half of 2024[29]. Financial Performance - The Group's total revenue for the six months ended June 30, 2024, was approximately RMB 700.0 million, representing a decrease of approximately RMB 86.5 million or approximately 11.0% compared to RMB 786.5 million for the same period in 2023[47][49]. - Revenue from property management services decreased by approximately RMB 90.7 million or approximately 12.8%, with major property owners' value-added services declining by approximately RMB 6.5 million or approximately 71.1%[53][54]. - The revenue generated from community value-added services decreased by approximately RMB 31.7 million or approximately 24.9%, primarily due to strategic adjustments in managed projects[54]. - The property management services segment accounted for approximately 88.5% of total revenue, while commercial operational services contributed approximately 11.5%[49]. - Revenue from commercial operational services increased by approximately RMB 4.2 million or approximately 5.5%, totaling RMB 80,589,000 for the six months ended June 30, 2024[64][65]. - For the six months ended June 30, 2024, total segment revenue was RMB 700,045, with property management services contributing RMB 619,456 and commercial operational services contributing RMB 80,589[171]. - Profit before tax increased to RMB 100,106, representing a growth of 14.4% from RMB 87,503 in the prior year[144]. - The Group's net profit was approximately RMB 75.1 million, an increase of approximately RMB 6.4 million or 9.3% compared to RMB 68.7 million for the same period in 2023[72]. Cost Management and Efficiency - In the first half of 2024, the Group emphasized the collection, centralization, and coordinated management of funds, which contributed to improved operational efficiency[9]. - The Group's focus on reducing expenditure while expanding income sources has led to increased operating income[9]. - The Group introduced new sanitation equipment to improve operational efficiency in community environments, contributing to cost control and enhanced service quality[11]. - The Group implemented energy-saving measures, significantly reducing carbon emissions and operating costs while maintaining service quality[14]. - Cost of services decreased by approximately 17.5% from approximately RMB583.2 million for the six months ended 30 June 2023 to approximately RMB481.3 million for the six months ended 30 June 2024[70]. - Administrative expenses decreased by approximately RMB22.6 million or approximately 34.7% to approximately RMB42.5 million for the six months ended 30 June 2024, compared to approximately RMB65.1 million for the six months ended 30 June 2023[71]. Community Engagement and Services - The Group aims to create a quality, healthy, and livable environment while enhancing commercial and social activities[7]. - The Group conducted more than 717 community cultural and convenience activities, serving over 93,700 people, and resolved over 10,000 service requests through the "Serving homeowners" campaign[17]. - In the first half of 2024, the Group launched over 1,000 community group purchase events and home delivery services, targeting property owners' purchasing power and consumption habits[12]. - The Group's initiatives in resource reallocation and optimization focused on addressing the needs of the elderly and children, enhancing community service offerings[12]. - The Group's community-focused initiatives, such as themed events at various plazas, have successfully increased foot traffic and sales, establishing these locations as urban activity centers[26]. - The Group's community activity spaces are tailored to local needs, enhancing customer engagement and driving economic value for branded merchants[27]. Digitalization and Innovation - Digitalization efforts are being prioritized to upgrade property operation capabilities and optimize customer experience, while also focusing on energy conservation and cost reduction[30]. - The online platform "Aoyuejia" was enhanced to integrate community services, improving convenience for property owners and fostering better community engagement[15]. - The self-developed membership management system enhances customer flow management and stimulates consumption through personalized marketing, significantly increasing member loyalty and spending frequency[24]. - The innovative "Internet + Business" model contributed to improved cash flow and profit growth, reducing unnecessary advertising expenses while increasing marketing conversion rates[24]. - The Group is enhancing property management capabilities through digitalization, optimizing customer experience, and improving project operational efficiency with ongoing investments in energy-saving initiatives[32]. Shareholder and Corporate Governance - As of June 30, 2024, Best Discovery International Limited held 217,148,750 shares, representing approximately 29.90% of the Company's issued share capital[107]. - The company has complied with all code provisions of the Corporate Governance Code during the six months ended June 30, 2024[111]. - The audit committee has reviewed the unaudited consolidated interim financial statements for the six months ended June 30, 2024[114]. - The company operates a share option scheme adopted on May 28, 2019, to provide incentives to selected eligible persons for their contributions to the group[120]. - The company did not declare or recommend any interim dividend for the six months ended June 30, 2024, consistent with the previous period[192]. Employee Management and Development - The Group regularly reviews employee remuneration and benefits according to market practices and individual performance[95]. - The Group provides contributions to social insurance and housing provident funds for employees in the PRC, and operates a Mandatory Provident Fund Scheme for qualified employees in Hong Kong[95]. - As of June 30, 2024, the Group had a total of 1,942 employees, with staff costs amounting to approximately RMB 116.4 million in the first half of 2024[95]. - The Group is committed to improving internal management quality through initiatives focused on service improvement and staff training[34][36].