公司名稱: 祈福生活服務控股有限公司（於開曼群島註冊成立的有限公司） 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9月30日 狀態: 新提交 致：香港交易及結算所有限公司 呈交日期: 2025年10月2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) | 03686 | 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 | ...

（於開曼群島註冊成立的有限公司） （Stock Code 股份代號：3686） NOTIFICATION LETTER 通知信函 Dear Non-Registered Holder, Clifford Modern Living Holdings Limited (the "Company") Notification of publication of Interim Report (the "Current Corporate Communication") CLIFFORD MODERN LIVING HOLDINGS LIMITED 祈福生活服務控股有限公司 (Incorporated in the Cayman Islands with limited liability) 各位非登記證券持有人： 祈福生活服務控股有限公司（「本公司」） 刊發中期報告（「本次公司通訊」） The English and Chinese versions of the Company's Current Corporate Communications (Note) are available on the Comp ...

CLIFFORD MODERN LIVING HOLDINGS LIMITED 祈福生活服務控股有限公司 19 September 2025 Dear Registered Shareholder, Clifford Modern Living Holdings Limited (the "Company") Notification of publication of Interim Report (the "Current Corporate Communication") If you for any reason have difficulty in receiving email notification or gaining access to the Website Version of the Corporate Communications and would like to receive the Current Corporate Communication and all future Corporate Communications in printed form, please c ...

2025 中期報告 INTERIM REPORT 2025 INTERIM REPORT 2025 中期報告 目錄 | 公司資料 | 2 | | --- | --- | | 管理層討論及分析 | 4 | | 企業管治及其他資料 | 22 | | 簡明合併財務報表的審閱報告 | 34 | | 簡明合併損益及其他綜合收益表 | 36 | | 簡明合併財務狀況表 | 37 | | 簡明合併權益變動表 | 40 | | 簡明合併現金流量表 | 41 | | 簡明合併財務報表附註 | 43 | 公司資料 執行董事 孟麗紅女士 （主席兼首席執行官） 何淑媚女士 劉興先生 非執行董事 梁玉華女士 獨立非執行董事 羅君美女士 何湛先生 麥 炳 良 先 生（又 名 麥 華 章 先 生） 審核委員會 羅君美女士 （主席） 何湛先生 麥 炳 良 先 生（又 名 麥 華 章 先 生） 薪酬委員會 麥 炳 良 先 生（又 名 麥 華 章 先 生） （主席） 孟麗紅女士 羅君美女士 提名委員會 孟麗紅女士 （主席） 羅君美女士 何湛先生 環境、社會及管治委員會 孟麗紅女士 （主席） 何淑媚女士 羅君美女士 麥 炳 良 先 生（又 名 麥 ...

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8月31日 狀態: 新提交 致：香港交易及結算所有限公司 第 2 頁 共 10 頁 v 1.1.1 公司名稱: 祈福生活服務控股有限公司（於開曼群島註冊成立的有限公司） 呈交日期: 2025年9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) | 03686 | 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 | H ...

Core Viewpoint - The company, Qifu Life Services (03686.HK), reported a decrease in revenue for the six months ending June 30, 2025, compared to the same period in 2024, primarily due to declines in retail services, extracurricular training services, information technology services, and supporting life services, partially offset by an increase in property management service revenue [1] Financial Performance - Revenue decreased from RMB 182.3 million for the six months ending June 30, 2024, to RMB 161.2 million for the six months ending June 30, 2025, representing a decline of RMB 21.1 million or 11.6% [1] - The company's net profit for the six months ending June 30, 2025, was RMB 75.1 million, up from RMB 53.1 million for the same period in 2024, resulting in a net profit margin of 46.6%, compared to 29.1% in the previous year [1]

Core Viewpoint - The company reported a decline in revenue but an increase in net profit for the interim period ending June 30, 2025 [1] Financial Performance - The company achieved revenue of 161 million, representing a year-on-year decrease of 11.56% [1] - Net profit reached 75.149 million, showing a year-on-year increase of 41.57% [1] - Basic earnings per share were reported at 0.074 yuan [1] Revenue Breakdown - The decrease in revenue was primarily attributed to declines in retail services, extracurricular training services, information technology services, and supporting lifestyle services [1] - The decline in these areas was partially offset by an increase in property management service revenue [1]

Core Viewpoint - The company reported a decrease in revenue but an increase in net profit for the six months ending June 30, 2025, indicating a mixed performance in its financial results [1] Financial Performance - Revenue for the period was 161 million, representing a year-on-year decrease of 11.56% [1] - Net profit reached 75.149 million, showing a year-on-year increase of 41.57% [1] - Basic earnings per share were 0.074 yuan [1] Revenue Breakdown - The decline in revenue was primarily attributed to decreases in retail services, extracurricular training services, information technology services, and supporting lifestyle services [1] - The decrease in these areas was partially offset by an increase in property management service revenue [1]

[Financial Summary](index=1&type=section&id=Financial%20Summary) This section provides a concise overview of the company's financial performance for the six months ended June 30, 2025, highlighting key metrics such as revenue, profit, and margins | Indicator | 2025 (Thousand RMB) | 2024 (Thousand RMB) | Change Percentage | | :--- | :--- | :--- | :--- | | Revenue | 161,195 | 182,268 | -11.6% | | Gross Profit | 82,496 | 84,563 | -2.4% | | Profit before Income Tax | 86,765 | 67,589 | 28.4% | | Profit for the Period | 75,149 | 53,083 | 41.6% | | Gross Margin (%) | 51.2% | 46.4% | 10.3% | | Net Profit Margin (%) | 46.6% | 29.1% | 60.1% | | Earnings per Share (Basic and Diluted) | 0.074 | 0.052 | 42.3% | [Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=2&type=section&id=Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) This statement presents the company's financial performance, including revenue, expenses, and profit for the six months ended June 30, 2025 | Indicator | 2025 (Thousand RMB) | 2024 (Thousand RMB) | | :--- | :--- | :--- | | Revenue | 161,195 | 182,268 | | Cost of Sales | (78,699) | (97,705) | | Gross Profit | 82,496 | 84,563 | | Net Other Gains/(Losses) and Other Income | 33,797 | 12,652 | | Selling and Marketing Expenses | (17,215) | (17,714) | | Administrative Expenses | (12,310) | (10,519) | | Net Reversal/(Provision) for Expected Credit Losses on Trade and Other Receivables | 1,035 | (434) | | Finance Costs | (1,038) | (959) | | Profit before Income Tax | 86,765 | 67,589 | | Income Tax Expense | (11,616) | (14,506) | | Total Profit and Comprehensive Income for the Period | 75,149 | 53,083 | | Profit and Total Comprehensive Income for the Period Attributable to Owners of the Company | 75,149 | 53,083 | | Earnings per Share (Basic and Diluted) | 0.074 | 0.052 | [Condensed Consolidated Statement of Financial Position](index=3&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) This statement outlines the company's assets, liabilities, and equity as of June 30, 2025, providing a snapshot of its financial health | Assets and Liabilities | 2025-06-30 (Thousand RMB) | 2024-12-31 (Thousand RMB) | | :--- | :--- | :--- | | **Non-current Assets** | | | | Property, Plant and Equipment | 4,787 | 5,995 | | Investment Properties | 14,806 | 17,362 | | Right-of-use Assets | 12,819 | 18,969 | | Intangible Assets | 912 | 1,049 | | Investment in Unallocated Silver | 175,121 | 141,290 | | Other Receivables | 4,440 | 6,614 | | Fixed Deposits | – | 80,000 | | Deferred Tax Assets | 1,361 | 1,115 | | **Total Non-current Assets** | **214,246** | **272,394** | | **Current Assets** | | | | Inventories | 8,175 | 9,714 | | Trade and Other Receivables | 42,913 | 35,216 | | Contract Assets | 2,549 | 4,637 | | Fixed Deposits | 80,000 | – | | Restricted Cash | 648 | 647 | | Cash and Cash Equivalents | 206,650 | 282,912 | | **Total Current Assets** | **340,935** | **333,126** | | **Current Liabilities** | | | | Trade and Other Payables | 106,496 | 73,780 | | Contract Liabilities | 20,711 | 19,826 | | Lease Liabilities | 11,509 | 13,763 | | Tax Payable | 7,497 | 8,968 | | **Total Current Liabilities** | **146,213** | **116,337** | | **Net Current Assets** | **194,722** | **216,789** | | **Total Assets Less Current Liabilities** | **408,968** | **489,183** | | **Non-current Liabilities** | | | | Lease Liabilities | 23,963 | 31,377 | | Deferred Tax Liabilities | 3,865 | 4,696 | | **Total Non-current Liabilities** | **27,828** | **36,073** | | **Net Assets** | **381,140** | **453,110** | | **Equity** | | | | Share Capital | 8,876 | 8,876 | | Share Premium | 179,333 | 179,333 | | Other Reserves | (99,969) | (99,969) | | Retained Earnings | 292,900 | 364,870 | | **Total Equity** | **381,140** | **453,110** | [Notes to the Condensed Consolidated Financial Statements](index=5&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) This section provides detailed explanations and disclosures for the condensed consolidated financial statements, covering accounting policies, estimates, and segment information [1. General Information](index=5&type=section&id=1.%20General%20Information) The company is an investment holding company incorporated in the Cayman Islands, listed on the Hong Kong Stock Exchange, primarily offering diverse services in mainland China - The company is incorporated in the Cayman Islands, with its shares listed on The Stock Exchange of Hong Kong[8](index=8&type=chunk) - The Group's principal activities are the provision of retail, catering, property management, laundry, after-school tutoring, property agency, and information technology services to property residents under the Clifford brand in mainland China[9](index=9&type=chunk) [2. Basis of Preparation](index=6&type=section&id=2.%20Basis%20of%20Preparation) The financial statements are prepared under HKAS 34 and Listing Rules, using historical cost convention with fair value measurement for unallocated silver - The condensed consolidated financial statements are prepared in accordance with Hong Kong Accounting Standard 34 "Interim Financial Reporting" issued by the Hong Kong Institute of Certified Public Accountants and the Listing Rules of the Stock Exchange[11](index=11&type=chunk) - The financial statements are prepared under the historical cost convention, except for investment in unallocated silver which is measured at fair value[11](index=11&type=chunk) [3. Significant Accounting Policies](index=6&type=section&id=3.%20Significant%20Accounting%20Policies) Accounting policies align with the 2024 annual consolidated financial statements, with no material impact from the adoption of HKAS 21 (Revised) - The accounting policies adopted are consistent with those applied in the annual consolidated financial statements for the year ended December 31, 2024[12](index=12&type=chunk) - The Group adopted HKAS 21 (Revised) "Lack of Exchangeability" which had no material impact on the financial results for the current period[13](index=13&type=chunk) [4. Critical Accounting Estimates and Judgements](index=7&type=section&id=4.%20Critical%20Accounting%20Estimates%20and%20Judgements) Significant management judgments and estimation uncertainties in preparing the financial statements remain consistent with those used in the 2024 annual report - Key accounting estimates and judgments are consistent with those applied in the annual consolidated financial statements for the year ended December 31, 2024[15](index=15&type=chunk) [5. Segment Information](index=7&type=section&id=5.%20Segment%20Information) The group reports segment information across seven operating segments, with segment results excluding centrally driven items like net other gains, finance costs, and income tax - The Group reports segment information based on seven operating segments: retail services, information technology services, property management services, after-school tutoring services, property agency services, catering services, and other services[17](index=17&type=chunk)[18](index=18&type=chunk) - Segment results exclude centrally driven items such as net other gains, finance costs, central administrative expenses, and income tax expense[17](index=17&type=chunk) [Segment Revenue and Results](index=8&type=section&id=Segment%20Revenue%20and%20Results) Total revenue for the six months ended June 30, 2025, was RMB 161,195 thousand, with property management contributing the largest segment profit and retail services the largest revenue [Segment Revenue and Results for the Six Months Ended June 30, 2025](index=8&type=section&id=Segment%20Revenue%20and%20Results%20for%20the%20Six%20Months%20Ended%20June%2030%2C%202025) | Segment | Revenue (Thousand RMB) | Segment Result (Thousand RMB) | | :--- | :--- | :--- | | Retail Services | 63,099 | 9,533 | | Information Technology Services | 5,733 | 2,519 | | Property Management Services | 55,069 | 33,119 | | After-school Tutoring Services | 17,358 | 8,676 | | Property Agency Services | 3,290 | 1,443 | | Catering Services | 10,035 | 659 | | Other | 6,611 | 1,931 | | **Total** | **161,195** | **57,880** | | Profit for the Period | | 75,149 | [Segment Assets and Liabilities](index=10&type=section&id=Segment%20Assets%20and%20Liabilities) As of June 30, 2025, total segment assets were RMB 91,401 thousand, with centrally managed assets like unallocated silver, fixed deposits, and cash comprising a significant portion of total assets [Segment Assets as at June 30, 2025 and December 31, 2024](index=10&type=section&id=Segment%20Assets%20as%20at%20June%2030%2C%202025%20and%20December%2031%2C%202024) | Segment | 2025-06-30 (Thousand RMB) | 2024-12-31 (Thousand RMB) | | :--- | :--- | :--- | | Retail Services | 42,925 | 41,146 | | Information Technology Services | 13,694 | 13,267 | | Property Management Services | 15,840 | 16,816 | | After-school Tutoring Services | 12,061 | 13,516 | | Property Agency Services | 270 | 338 | | Catering Services | 2,294 | 12,647 | | Other | 4,317 | 1,826 | | **Total Segment Assets** | **91,401** | **99,556** | | Investment in Unallocated Silver | 175,121 | 141,290 | | Fixed Deposits | 80,000 | 80,000 | | Restricted Cash | 648 | 647 | | Cash and Cash Equivalents | 206,650 | 282,912 | | Deferred Tax Assets | 1,361 | 1,115 | | **Total Assets** | **555,181** | **605,520** | [Geographical and Major Customer Information](index=11&type=section&id=Geographical%20and%20Major%20Customer%20Information) Over 75% of non-current assets and 90% of revenue are from mainland China, with Guangdong Clifford Hospital contributing 9% of the group's multi-segment revenue - Over **75%** of non-current assets (excluding financial assets, investment in unallocated silver, and deferred tax assets) are located in mainland China[23](index=23&type=chunk) - Over **90%** of revenue is derived from operations and customers in mainland China[23](index=23&type=chunk) - Guangdong Clifford Hospital Co, Ltd (controlled by Ms Meng Lihong) contributed **9%** of the Group's revenue across its retail, information technology, property management, property agency, after-school tutoring, catering, and other segments[23](index=23&type=chunk) [6. Income Tax Expense](index=12&type=section&id=6.%20Income%20Tax%20Expense) Income tax expense decreased to RMB 11,616 thousand for the six months ended June 30, 2025, primarily due to lower PRC Enterprise Income Tax and Withholding Income Tax [Income Tax Expense for the Six Months Ended June 30, 2025](index=12&type=section&id=Income%20Tax%20Expense%20for%20the%20Six%20Months%20Ended%20June%2030%2C%202025) | Tax Category | 2025 (Thousand RMB) | 2024 (Thousand RMB) | | :--- | :--- | :--- | | Current Tax: | | | | – PRC Enterprise Income Tax | 11,318 | 13,273 | | – PRC Withholding Income Tax | 1,375 | 6,461 | | **Total Current Tax** | **12,693** | **19,734** | | Deferred Tax: | | | | – PRC Enterprise Income Tax (Credit)/Expense | (377) | 372 | | – PRC Withholding Income Tax Credit | (700) | (5,600) | | **Total Deferred Tax Credit** | **(1,077)** | **(5,228)** | | **Income Tax Expense** | **11,616** | **14,506** | [PRC Enterprise Income Tax](index=12&type=section&id=PRC%20Enterprise%20Income%20Tax) PRC entities generally face a 25% corporate income tax rate, with some high-tech enterprises enjoying a 15% preferential rate and small enterprises a 5% reduced rate until 2027 - PRC entities are generally subject to an Enterprise Income Tax rate of **25%**[25](index=25&type=chunk) - One subsidiary, certified as a "High and New Technology Enterprise," enjoys a preferential Enterprise Income Tax rate of **15%** until 2026[25](index=25&type=chunk) - Certain qualified small enterprises are eligible for a **5%** reduced effective tax rate until December 31, 2027[25](index=25&type=chunk) [PRC Withholding Income Tax](index=13&type=section&id=PRC%20Withholding%20Income%20Tax) Dividends declared by PRC entities to foreign investors are subject to a 10% withholding tax, reduced to 5% for Hong Kong-registered direct holding companies meeting tax arrangement criteria - Dividends declared by PRC entities to foreign investors from profits earned after January 1, 2008, are subject to a **10%** PRC withholding income tax[26](index=26&type=chunk) - A lower withholding income tax rate of **5%** applies if the direct holding company of the PRC subsidiary is incorporated or operates in Hong Kong and meets the requirements of the PRC-Hong Kong tax arrangement[26](index=26&type=chunk) - As of June 30, 2025, deferred tax provision has been made at a **5%** withholding income tax rate for earnings of certain profitable PRC subsidiaries distributed to other overseas group entities[26](index=26&type=chunk) [Hong Kong Profits Tax](index=13&type=section&id=Hong%20Kong%20Profits%20Tax) Hong Kong Profits Tax applies a two-tiered rate of 8.25% on the first HKD 2 million of profit and 16.5% thereafter, with no provision made due to no taxable profit - Hong Kong Profits Tax operates under a two-tiered system, with a tax rate of **8.25%** on the first HKD 2 million of assessable profits and **16.5%** on profits exceeding this amount[27](index=27&type=chunk) - The Group had no assessable profits in Hong Kong for the six months ended June 30, 2025, and therefore no provision for Hong Kong Profits Tax was made[27](index=27&type=chunk) [Overseas Corporate Income Tax](index=13&type=section&id=Overseas%20Corporate%20Income%20Tax) The Company and its British Virgin Islands subsidiaries are exempt from income tax in their respective jurisdictions - The Company (incorporated in the Cayman Islands) and its British Virgin Islands subsidiaries are exempt from income tax in their respective jurisdictions[28](index=28&type=chunk) [7. Earnings Per Share](index=14&type=section&id=7.%20Earnings%20Per%20Share) Basic and diluted earnings per share increased by 42.3% to RMB 0.074 for the six months ended June 30, 2025, with no dilutive potential ordinary shares [Earnings Per Share for the Six Months Ended June 30, 2025](index=14&type=section&id=Earnings%20Per%20Share%20for%20the%20Six%20Months%20Ended%20June%2030%2C%202025) | Indicator | 2025 (Unaudited) | 2024 (Unaudited) | | :--- | :--- | :--- | | Profit Attributable to Owners of the Company (RMB) | 75,149,000 | 53,083,000 | | Weighted Average Number of Ordinary Shares Issued | 1,015,750,000 | 1,015,750,000 | | Weighted Average Number of Ordinary Shares for Diluted EPS | 1,015,750,000 | 1,015,750,000 | | Diluted Basic Earnings Per Share Attributable to Owners of the Company (RMB) | 0.074 | 0.052 | - The Company had no dilutive potential ordinary shares during the reporting period, thus diluted earnings per share are the same as basic earnings per share[29](index=29&type=chunk) [8. Investment in Unallocated Silver](index=15&type=section&id=8.%20Investment%20in%20Unallocated%20Silver) The group holds 680,000 ounces of unallocated silver, recording a significant fair value gain of approximately RMB 33,831 thousand for the period, aimed at long-term capital appreciation - The Group holds **680,000 ounces** of unallocated silver, aiming for long-term capital appreciation[31](index=31&type=chunk) - For the six months ended June 30, 2025, the fair value gain on investment in unallocated silver was approximately **RMB 33,831 thousand**, a significant increase from RMB 11,879 thousand in the prior period[31](index=31&type=chunk) - The fair value is determined by reference to London Bullion Market quotations and can be unconditionally converted into allocated silver or realized as cash[32](index=32&type=chunk) [9. Trade and Other Receivables](index=16&type=section&id=9.%20Trade%20and%20Other%20Receivables) Trade receivables, net of impairment, increased to RMB 27,618 thousand due to higher related party receivables, while other receivables decreased, with total expected credit loss provisions of RMB 8,598 thousand [Trade and Other Receivables as at June 30, 2025 and December 31, 2024](index=16&type=section&id=Trade%20and%20Other%20Receivables%20as%20at%20June%2030%2C%202025%20and%20December%2031%2C%202024) | Category | 2025-06-30 (Thousand RMB) | 2024-12-31 (Thousand RMB) | | :--- | :--- | :--- | | Gross Trade Receivables | 35,557 | 25,506 | | Less: Impairment Provision for Trade Receivables | (7,939) | (8,939) | | **Net Trade Receivables** | **27,618** | **16,567** | | Gross Other Receivables | 18,944 | 24,177 | | Less: Impairment Provision for Other Receivables | (659) | (694) | | **Net Other Receivables** | **18,285** | **23,483** | | Prepayments | 1,450 | 1,780 | | **Total Trade and Other Receivables** | **47,353** | **41,830** | [Ageing Analysis of Trade Receivables (Net of Impairment)](index=17&type=section&id=Ageing%20Analysis%20of%20Trade%20Receivables%20%28Net%20of%20Impairment%29) | Ageing | 2025-06-30 (Thousand RMB) | 2024-12-31 (Thousand RMB) | | :--- | :--- | :--- | | Within 1 year | 26,343 | 15,197 | | 1 to 2 years | 368 | 393 | | Over 2 years | 907 | 977 | | **Total** | **27,618** | **16,567** | - The Group has made a total provision for expected credit losses on trade and other receivables of approximately **RMB 8,598 thousand** (December 31, 2024: RMB 9,633 thousand)[35](index=35&type=chunk) [10. Trade and Other Payables](index=18&type=section&id=10.%20Trade%20and%20Other%20Payables) Total trade and other payables increased to RMB 106,496 thousand as of June 30, 2025, primarily due to the recognition of dividends payable [Trade and Other Payables as at June 30, 2025 and December 31, 2024](index=18&type=section&id=Trade%20and%20Other%20Payables%20as%20at%20June%2030%2C%202025%20and%20December%2031%2C%202024) | Category | 2025-06-30 (Thousand RMB) | 2024-12-31 (Thousand RMB) | | :--- | :--- | :--- | | Trade Payables | 30,871 | 35,993 | | Other Payables | 24,455 | 28,732 | | Accrued Salaries | 8,702 | 8,759 | | Dividends Payable | 42,177 | – | | Other Taxes Payable | 291 | 296 | | **Total** | **106,496** | **73,780** | [Ageing Analysis of Trade Payables](index=18&type=section&id=Ageing%20Analysis%20of%20Trade%20Payables) | Ageing | 2025-06-30 (Thousand RMB) | 2024-12-31 (Thousand RMB) | | :--- | :--- | :--- | | Within 1 year | 26,739 | 33,378 | | 1 to 2 years | 2,692 | 1,534 | | 2 to 3 years | 992 | 944 | | Over 3 years | 448 | 137 | | **Total** | **30,871** | **35,993** | [11. Share Capital and Share Premium](index=19&type=section&id=11.%20Share%20Capital%20and%20Share%20Premium) As of June 30, 2025, the company's issued and fully paid ordinary shares remained at 1,015,750,000, with share capital of RMB 8,876 thousand and share premium of RMB 179,333 thousand [Details of Share Capital and Share Premium](index=19&type=section&id=Details%20of%20Share%20Capital%20and%20Share%20Premium) | Category | Number of Ordinary Shares | Share Capital (Thousand RMB) | Share Premium (Thousand RMB) | Total (Thousand RMB) | | :--- | :--- | :--- | :--- | :--- | | Authorized Share Capital (as at 2025-06-30) | 10,000,000,000 | 87,440 | – | – | | Issued and Fully Paid Share Capital (as at 2025-06-30) | 1,015,750,000 | 8,876 | 179,333 | 188,209 | [12. Dividends](index=19&type=section&id=12.%20Dividends) The Board approved a special dividend of 11.20 HK cents per ordinary share and a final dividend of 4.50 HK cents per ordinary share for FY2024, but no interim dividend is recommended for the current period - A special dividend of **11.20 HK cents** per ordinary share (approximately RMB 104,942 thousand) was approved on February 25, 2025[37](index=37&type=chunk) - A final dividend of **4.50 HK cents** per ordinary share (approximately RMB 42,177 thousand) for the year ended December 31, 2024, was approved on June 20, 2025[38](index=38&type=chunk) - The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2025[38](index=38&type=chunk) [Management Discussion and Analysis](index=20&type=section&id=Management%20Discussion%20and%20Analysis) This section provides an overview of the group's operational performance, financial results, future strategies, and key financial positions for the reporting period [Business Review](index=20&type=section&id=Business%20Review) The group offers a diverse service portfolio including property management, retail, after-school tutoring, IT, and ancillary living services, with property management expanding while other segments face market challenges - The Group's service portfolio comprises five major segments: property management, retail, after-school tutoring, information technology, and ancillary living services[39](index=39&type=chunk) [Property Management Services](index=20&type=section&id=Property%20Management%20Services) As of June 30, 2025, the group managed 22 properties with a total contracted GFA of approximately 10,189,000 square meters, showing an increase from December 31, 2024 [Total Contracted Gross Floor Area (GFA) and Number of Properties for Property Management Services](index=20&type=section&id=Total%20Contracted%20Gross%20Floor%20Area%20%28GFA%29%20and%20Number%20of%20Properties%20for%20Property%20Management%20Services) | Category | As at 2025-06-30 (Thousand sq.m.) | As at 2025-06-30 (Number of Communities/Properties or Projects) | As at 2024-12-31 (Thousand sq.m.) | As at 2024-12-31 (Number of Communities/Properties or Projects) | | :--- | :--- | :--- | :--- | :--- | | Residential Communities | 7,082 | 16 | 7,082 | 16 | | Pure Commercial Properties/Projects | 3,107 | 6 | 2,793 | 5 | | **Total** | **10,189** | **22** | **9,875** | **21** | [Retail Services](index=21&type=section&id=Retail%20Services) The group operates 24 retail stores with a total GFA of approximately 14,402 square meters, experiencing significant growth in fresh market daily revenue despite slight declines in supermarkets and convenience stores - The Group operates **24 retail stores**, including one fresh market, three supermarkets, and 20 convenience stores[41](index=41&type=chunk) [Average Daily Revenue by Retail Store Category](index=21&type=section&id=Average%20Daily%20Revenue%20by%20Retail%20Store%20Category) | Retail Store Category | 2025 (Thousand RMB) | 2024 (Thousand RMB) | | :--- | :--- | :--- | | Supermarkets | 175.40 | 191.07 | | Fresh Markets | 49.77 | 37.88 | | Convenience Stores | 125.38 | 125.60 | [After-school Tutoring Services](index=21&type=section&id=After-school%20Tutoring%20Services) As of June 30, 2025, the group maintained four learning centers in Panyu District, offering interest and language training courses, consistent with the previous year-end - The Group operates **four learning centers** in Panyu District, offering interest and language training courses[42](index=42&type=chunk) [Information Technology Services](index=22&type=section&id=Information%20Technology%20Services) The group provides IT services, engineering services, security system services, hardware and software integration, and acts as an agent for major telecommunication service providers - The Group provides information technology services, related engineering services, security system services, and hardware and software integration services[43](index=43&type=chunk) - The Group also acts as an agent for products and services of major telecommunication service providers[44](index=44&type=chunk) [Ancillary Living Services](index=22&type=section&id=Ancillary%20Living%20Services) Ancillary living services include catering, property agency, employment agency, and laundry services, with property agency business expected to recover gradually under supportive policies - Ancillary living services include catering services, property agency services, employment agency services, and laundry services[45](index=45&type=chunk) - The property agency business is affected by the "houses are for living, not for speculation" policy in mainland China, but is expected to gradually recover with local government policy support[47](index=47&type=chunk) [Prospects and Future Plans](index=23&type=section&id=Prospects%20and%20Future%20Plans) The group plans to expand its property management network through integrated projects, develop online marketing channels, and explore new investment opportunities under prudent financial management - The Group plans to expand its property management network through integrated projects such as apartments, shopping malls, and office buildings[50](index=50&type=chunk) - The Group intends to promote its services through online channels like websites and smartphone applications, and upgrade its sales and accounting systems to improve data collection[51](index=51&type=chunk) - Under prudent financial management, the Group prioritizes strict cost control and operational flexibility, exploring emerging investment opportunities to enhance its competitive position[52](index=52&type=chunk) [Financial Review](index=24&type=section&id=Financial%20Review) Total revenue decreased by 11.6% to RMB 161.2 million, but gross margin and net profit margin significantly improved, leading to a 41.6% increase in net profit for the period - Total revenue decreased by **11.6%** from RMB 182.3 million to **RMB 161.2 million**[53](index=53&type=chunk) - Gross margin improved from **46.4% to 51.2%**, and net profit margin increased from **29.1% to 46.6%**[61](index=61&type=chunk)[67](index=67&type=chunk) - Net profit for the period increased by **41.6%** to **RMB 75.1 million**[67](index=67&type=chunk) [Revenue](index=24&type=section&id=Revenue) Total revenue for the period decreased by 11.6% to RMB 161,195 thousand, driven by growth in property management services but declines in retail, after-school tutoring, IT, and a significant reduction in ancillary living services due to the termination of school catering [Revenue by Service Segment](index=24&type=section&id=Revenue%20by%20Service%20Segment) | Service Segment | 2025 (Thousand RMB) | 2024 (Thousand RMB) | Change (Thousand RMB) | Change (%) | 2025 % of Total Revenue | 2024 % of Total Revenue | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Property Management Services | 55,069 | 40,888 | 14,181 | 34.7 | 34.2 | 22.4 | | Retail Services | 63,099 | 63,819 | (720) | -1.1 | 39.1 | 35.0 | | After-school Tutoring Services | 17,358 | 20,682 | (3,324) | -16.1 | 10.8 | 11.3 | | Information Technology Services | 5,733 | 11,741 | (6,008) | -51.2 | 3.5 | 6.4 | | Ancillary Living Services | 19,936 | 45,138 | (25,202) | -55.8 | 12.4 | 24.8 | | **Total** | **161,195** | **182,268** | **(21,073)** | **-11.6** | **100.0** | **100.0** | [Property Management Services Revenue](index=25&type=section&id=Property%20Management%20Services%20Revenue) Property management services revenue increased by 34.7% to RMB 55.1 million, primarily due to new healthcare property management contracts and increased demand for home assistant services - Property management services revenue increased by **34.7%** to **RMB 55.1 million**[54](index=54&type=chunk) - The increase in general property management services revenue was mainly attributable to new healthcare property management contracts obtained during the period[54](index=54&type=chunk) - Revenue from resident support services increased by **2.6%** due to increased demand for home assistant services[54](index=54&type=chunk) [Retail Services Revenue](index=25&type=section&id=Retail%20Services%20Revenue) Retail services revenue slightly decreased by 1.1% to RMB 63.1 million, mainly due to intensified market competition, despite a 31.4% growth in fresh market revenue - Retail services revenue decreased by **1.1%** to **RMB 63.1 million**, primarily due to intensified competition in the retail market[55](index=55&type=chunk) [Revenue by Retail Store Category](index=25&type=section&id=Revenue%20by%20Retail%20Store%20Category) | Retail Store Category | 2025 (Thousand RMB) | 2024 (Thousand RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Supermarkets | 31,572 | 34,393 | -8.2 | | Fresh Markets | 8,958 | 6,818 | 31.4 | | Convenience Stores | 22,569 | 22,608 | -0.2 | [After-school Tutoring Services Revenue](index=26&type=section&id=After-school%20Tutoring%20Services%20Revenue) After-school tutoring services revenue declined by 16.1% to RMB 17.4 million, primarily due to decreased enrollment demand for various interest classes - After-school tutoring services revenue decreased by **16.1%** to **RMB 17.4 million**[57](index=57&type=chunk) - The decrease was mainly attributable to a decline in enrollment demand for various interest classes[57](index=57&type=chunk) [Information Technology Services Revenue](index=26&type=section&id=Information%20Technology%20Services%20Revenue) Information technology services revenue significantly decreased by 51.2% to RMB 5.7 million, mainly due to a decline in engineering services revenue from weaker project contract demand - Information technology services revenue significantly decreased by **51.2%** to **RMB 5.7 million**[58](index=58&type=chunk)[59](index=59&type=chunk) - This was primarily due to a **56.0%** decrease in engineering services revenue, attributed to weaker demand for project contracts[58](index=58&type=chunk) [Ancillary Living Services Revenue](index=27&type=section&id=Ancillary%20Living%20Services%20Revenue) Ancillary living services revenue significantly decreased by 55.8% to RMB 19.9 million, primarily due to the termination of the group's school catering services in the first quarter of 2025 - Ancillary living services revenue significantly decreased by **55.8%** to **RMB 19.9 million**[60](index=60&type=chunk) - This was primarily due to the Group's termination of its school catering services in the first quarter of 2025, leading to a **70.0%** decrease in catering services revenue[60](index=60&type=chunk) [Gross Profit and Gross Margin](index=27&type=section&id=Gross%20Profit%20and%20Gross%20Margin) Gross profit decreased by 2.4% to RMB 82.5 million, but gross margin improved to 51.2%, driven by a shift towards higher-margin IT maintenance contracts and fresh food procurement services - Gross profit decreased by **2.4%** to **RMB 82.5 million**[61](index=61&type=chunk) - Gross margin improved from **46.4% to 51.2%**[61](index=61&type=chunk) - The improvement in gross margin was mainly attributable to the shift in information technology services towards higher-margin maintenance contracts and the contribution from higher-margin fresh food procurement services launched in the second half of 2024[61](index=61&type=chunk) [Selling and Marketing Expenses](index=27&type=section&id=Selling%20and%20Marketing%20Expenses) Selling and marketing expenses decreased by 2.8% to RMB 17.2 million, primarily due to reduced marketing activities in retail services - Selling and marketing expenses decreased by **2.8%** to **RMB 17.2 million**[62](index=62&type=chunk) - The decrease was mainly due to reduced marketing activities in retail services[62](index=62&type=chunk) [Administrative Expenses](index=28&type=section&id=Administrative%20Expenses) Administrative expenses increased by 17.0% to RMB 12.3 million, mainly due to incremental costs from the launch of fresh food procurement services and new healthcare property management contracts - Administrative expenses increased by **17.0%** to **RMB 12.3 million**[63](index=63&type=chunk) - The increase was mainly due to incremental costs arising from the launch of fresh food procurement services in the second half of 2024 and healthcare property management contracts commencing in early 2025[63](index=63&type=chunk) [Net Other Gains/(Losses) and Other Income](index=28&type=section&id=Net%20Other%20Gains%2F%28Losses%29%20and%20Other%20Income) Net other gains and other income increased to RMB 33.8 million, primarily driven by a significant fair value gain on investment in unallocated silver and reduced net exchange losses - Net other gains and other income increased to **RMB 33.8 million** (2024: RMB 12.7 million)[64](index=64&type=chunk) - The increase was mainly due to a fair value gain on investment in unallocated silver of **RMB 33.8 million** (2024: RMB 11.9 million)[64](index=64&type=chunk) - Net exchange losses decreased to **RMB 3.4 million** (2024: RMB 9.1 million)[64](index=64&type=chunk) [Finance Costs](index=28&type=section&id=Finance%20Costs) Finance costs remained stable at RMB 1.0 million, primarily consisting of interest expenses on lease liabilities - Finance costs were **RMB 1.0 million**, primarily interest expenses on lease liabilities, consistent with the prior period[65](index=65&type=chunk) [Income Tax Expense](index=28&type=section&id=Income%20Tax%20Expense) The effective tax rate decreased from 21.5% to 13.3% - The effective tax rate decreased from **21.5% to 13.3%**[66](index=66&type=chunk) [Net Profit for the Period](index=28&type=section&id=Net%20Profit%20for%20the%20Period) Net profit for the period increased by 41.6% to RMB 75.1 million, with the net profit margin improving to 46.6% - Net profit for the period was **RMB 75.1 million** (2024: RMB 53.1 million), representing a **41.6%** increase[67](index=67&type=chunk) - The net profit margin improved to **46.6%** (2024: 29.1%)[67](index=67&type=chunk) [Property, Plant and Equipment](index=29&type=section&id=Property%2C%20Plant%20and%20Equipment) The net book value of property, plant and equipment decreased from RMB 6.0 million to RMB 4.8 million - The net book value of property, plant and equipment decreased from **RMB 6.0 million to RMB 4.8 million**[68](index=68&type=chunk) [Investment Properties](index=29&type=section&id=Investment%20Properties) Investment properties decreased from RMB 17.4 million to RMB 14.8 million, primarily referring to properties held for long-term rental income - Investment properties decreased from **RMB 17.4 million to RMB 14.8 million**[69](index=69&type=chunk) [Investment in Unallocated Silver](index=29&type=section&id=Investment%20in%20Unallocated%20Silver) The group holds 680,000 ounces of unallocated silver with an estimated fair value of RMB 175.1 million, accounting for 31.3% of total assets, and remains optimistic about its prospects - The Group holds **680,000 ounces** of unallocated silver, with an estimated fair value of approximately **RMB 175.1 million**, representing about **31.3%** of the Group's total assets[70](index=70&type=chunk) - A fair value gain of approximately **RMB 33.8 million** was recorded during the reporting period[70](index=70&type=chunk) - The Group remains optimistic about its investment in silver, believing its dual appeal as an industrial metal and a safe-haven asset positions it favorably[70](index=70&type=chunk) [Inventories](index=30&type=section&id=Inventories) Inventories decreased from RMB 9.7 million to RMB 8.2 million, mainly due to reductions in retail service inventories and IT service raw materials, with no provisions or write-downs recognized - Inventories decreased from **RMB 9.7 million to RMB 8.2 million**[71](index=71&type=chunk) - The decrease was mainly due to a reduction in retail service inventories and information technology service raw materials[71](index=71&type=chunk) - No provisions or write-downs for inventories were recognized by the Group for the six months ended June 30, 2025[72](index=72&type=chunk) [Trade and Other Receivables](index=30&type=section&id=Trade%20and%20Other%20Receivables) Trade receivables increased by 66.7% to RMB 27.6 million due to new healthcare property management contracts, while other receivables decreased by 22.1% to RMB 18.3 million - Trade receivables increased by **66.7%** from RMB 16.6 million to **RMB 27.6 million**, primarily due to receivables from healthcare property management contracts that commenced in early 2025[74](index=74&type=chunk) - Other receivables decreased by **22.1%** from RMB 23.5 million to **RMB 18.3 million**[75](index=75&type=chunk) [Trade and Other Payables](index=30&type=section&id=Trade%20and%20Other%20Payables) Trade payables decreased by 14.2% to RMB 30.9 million, with other payables primarily comprising deposits received from retail business stall tenants - Trade payables decreased by **14.2%** from RMB 36.0 million to **RMB 30.9 million**[77](index=77&type=chunk) - Other payables primarily comprise deposits received from stall tenants of the retail business[78](index=78&type=chunk) [Interim Dividend](index=31&type=section&id=Interim%20Dividend) The Board resolved not to declare an interim dividend for the six months ended June 30, 2025 - The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2025[79](index=79&type=chunk) [Liquidity and Capital Resources](index=31&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, 2025, the group's primary liquidity source was cash and cash equivalents of RMB 206.7 million, a decrease from December 31, 2024, with no new loans or borrowings during the period - The primary source of liquidity was cash and cash equivalents of **RMB 206.7 million** (December 31, 2024: RMB 282.9 million)[80](index=80&type=chunk) - The Group did not obtain any loans or borrowings for the six months ended June 30, 2025[81](index=81&type=chunk) [Pledged Assets](index=31&type=section&id=Pledged%20Assets) As of June 30, 2025, the group had no pledged assets - The Group had no pledged assets as at June 30, 2025[82](index=82&type=chunk) [Contingent Liabilities](index=31&type=section&id=Contingent%20Liabilities) As of June 30, 2025, the group had no significant contingent liabilities - The Group had no significant contingent liabilities as at June 30, 2025[83](index=83&type=chunk) [Employees and Remuneration Policy](index=32&type=section&id=Employees%20and%20Remuneration%20Policy) As of June 30, 2025, the group's employee count increased to 753, with total remuneration rising to RMB 41.3 million, reflecting a commitment to employee development and comprehensive benefits - As of June 30, 2025, the Group had **753 employees** (December 31, 2024: 618 employees)[84](index=84&type=chunk) - Total remuneration for the six months ended June 30, 2025, was **RMB 41.3 million** (2024: RMB 38.0 million)[84](index=84&type=chunk) - The Group provides on-the-job training, Mandatory Provident Fund contributions, state-managed retirement benefit schemes, discretionary bonuses, and has a share option scheme[84](index=84&type=chunk) [Material Investments Held, Material Acquisitions and Disposals of Subsidiaries, Associates or Joint Ventures](index=32&type=section&id=Material%20Investments%20Held%2C%20Material%20Acquisitions%20and%20Disposals%20of%20Subsidiaries%2C%20Associates%20or%20Joint%20Ventures) Excluding the investment in unallocated silver, the group had no material investments, acquisitions, or disposals of subsidiaries, associates, or joint ventures during the reporting period - Other than the investment in unallocated silver, the Group had no material investments, acquisitions, or disposals of subsidiaries, associates, or joint ventures during the reporting period[85](index=85&type=chunk) [Future Plans for Material Investments or Capital Assets](index=32&type=section&id=Future%20Plans%20for%20Material%20Investments%20or%20Capital%20Assets) As of the announcement date, the group has no specific future plans regarding material investments or capital assets - As of the date of this announcement, the Group has no specific future plans regarding material investments or capital assets[86](index=86&type=chunk) [Significant Post-Reporting Period Events](index=32&type=section&id=Significant%20Post-Reporting%20Period%20Events) No significant post-reporting period events affecting the group occurred from June 30, 2025, up to the announcement date - No significant post-reporting period events affecting the Group occurred from June 30, 2025, up to the date of this announcement[87](index=87&type=chunk) [Other Information](index=33&type=section&id=Other%20Information) This section covers corporate governance, securities transactions, audit committee review, and publication details of the interim results and report [Purchase, Sale or Redemption of the Company's Listed Securities](index=33&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company%27s%20Listed%20Securities) Neither the company nor its subsidiaries purchased, sold, or redeemed any of its listed securities during the six months ended June 30, 2025, and held no treasury shares - Neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities during the six months ended June 30, 2025[88](index=88&type=chunk) - As at June 30, 2025, the Company did not hold any treasury shares as defined under the Listing Rules[89](index=89&type=chunk) [Corporate Governance Code](index=33&type=section&id=Corporate%20Governance%20Code) The company complies with the Corporate Governance Code, with a deviation where Ms. Meng Lihong holds both Chairman and CEO roles, deemed beneficial due to her deep business knowledge - The Company complies with the Corporate Governance Code, with a deviation where Ms Meng Lihong holds both the Chairman and Chief Executive Officer positions[90](index=90&type=chunk)[91](index=91&type=chunk) - The Board believes this arrangement is in the best interest of the Group, as Ms Meng possesses in-depth knowledge and experience in the PRC business, providing strong and consistent leadership[91](index=91&type=chunk) [Standard Code for Securities Transactions](index=33&type=section&id=Standard%20Code%20for%20Securities%20Transactions) The company adopted the Standard Code for Securities Transactions for directors, and all directors confirmed compliance during the reporting period - The Company has adopted the Standard Code for Securities Transactions as the code of conduct for directors' securities transactions, as set out in Appendix C3 to the Listing Rules[92](index=92&type=chunk) - All directors confirmed compliance with the Standard Code for the six months ended June 30, 2025[92](index=92&type=chunk) [Audit Committee](index=34&type=section&id=Audit%20Committee) The Audit Committee, comprising three independent non-executive directors, reviews financial information integrity and internal controls, having no objections to the unaudited interim financial information - The Audit Committee consists of three independent non-executive directors, with Ms Law Kwan Mei as the chairperson[93](index=93&type=chunk) - Its primary responsibilities include reviewing the integrity, accuracy, and fairness of the Group's financial information, as well as the efficiency of operations and internal controls[93](index=93&type=chunk) - The Audit Committee has reviewed the unaudited interim financial information for the six months ended June 30, 2025, and has no objections[93](index=93&type=chunk) [Publication of Interim Results Announcement and Interim Report](index=34&type=section&id=Publication%20of%20Interim%20Results%20Announcement%20and%20Interim%20Report) The interim results announcement is published on the HKEX and company websites, with the interim report to be dispatched to shareholders and posted online in due course - This interim results announcement is published on the HKEX website (www.hkexnews.hk) and the Company's website (www.cliffordmodernliving.com)[95](index=95&type=chunk) - The interim report will be dispatched to the Company's shareholders and posted on the aforementioned websites in due course[95](index=95&type=chunk) [Board of Directors](index=34&type=section&id=Board%20of%20Directors) This announcement lists the members of the Board of Directors, including executive, non-executive, and independent non-executive directors - The Board of Directors includes Executive Directors Ms Meng Lihong, Ms Ho Shuk Mei, and Mr Liu Xing; Non-executive Director Ms Leung Yuk Wah; and Independent Non-executive Directors Ms Law Kwan Mei, Mr Ho Cham, and Mr Mak Ping Leung[97](index=97&type=chunk)

Core Viewpoint - The company, Qifu Life Services (03686.HK), has announced a board meeting scheduled for August 28, 2025, to consider and approve the publication of its interim results for the six months ending June 30, 2025, and to discuss the potential declaration of an interim dividend, among other matters [1] Group 1 - The board meeting is set for August 28, 2025 [1] - The meeting will focus on the interim results for the six months ending June 30, 2025 [1] - The company will also consider the proposal for an interim dividend, if applicable [1]