Financial Performance - Total revenue decreased from RMB 178.2 million for the six months ended June 30, 2019, to RMB 174.7 million for the same period in 2020, a decline of RMB 3.6 million or 2.0%[30]. - For the six months ended June 30, 2020, the company reported revenue from continuing operations of RMB 174,693,000, a decrease of 2.8% compared to RMB 178,248,000 for the same period in 2019[135]. - The gross profit for the same period was RMB 72,073,000, with a gross margin of approximately 41.2%[135]. - Operating profit decreased to RMB 47,694,000, down 16.9% from RMB 57,378,000 in the previous year[135]. - Profit before tax was RMB 47,470,000, a decrease of 17% compared to RMB 57,162,000 for the same period in 2019[135]. - The net profit from continuing operations was RMB 35,960,000, down 15.6% from RMB 42,724,000 in the previous year[135]. - Total comprehensive income for the period was RMB 35,960,000, compared to RMB 43,359,000 in the same period last year[135]. - The total comprehensive income attributable to the company's owners for the period was RMB 35,960 thousand, a decrease from RMB 42,724 thousand in the previous year, representing a decline of approximately 15.5%[138]. - Basic and diluted earnings per share from continuing operations were RMB 0.035, down from RMB 0.042 in the previous year, reflecting a decrease of about 16.7%[138]. Revenue Breakdown - Property management service revenue increased by 35.5% from RMB 27.6 million in 2019 to RMB 37.4 million in 2020, driven by a shift in charging method and increased demand for resident support services[32]. - Retail service revenue rose by 46.1% from RMB 51.0 million in 2019 to RMB 74.5 million in 2020, attributed to increased demand during the COVID-19 pandemic and the opening of new stores[37]. - The average daily revenue from supermarkets increased to RMB 261.21 thousand in 2020, up from RMB 168.74 thousand in 2019, representing a growth of 55%[12]. - The average daily revenue from convenience stores rose to RMB 122.34 thousand in 2020, compared to RMB 82.07 thousand in 2019, marking a growth of 49%[12]. - The company’s segment revenue from external customers for retail services increased from RMB 50,982,000 for the six months ended June 30, 2019, to RMB 74,571,000 for the same period in 2020[172]. - The company’s segment revenue from information technology services was RMB 31,994,000 for the six months ended June 30, 2020[172]. - The company’s segment revenue from property management services was RMB 37,713,000 for the six months ended June 30, 2020[172]. Expenses and Costs - Sales cost increased from approximately RMB 100.6 million for the six months ended June 30, 2019, to approximately RMB 102.6 million for the six months ended June 30, 2020, an increase of about RMB 2.0 million or 2.0%[48]. - Gross profit decreased from approximately RMB 77.7 million for the six months ended June 30, 2019, to approximately RMB 72.1 million for the six months ended June 30, 2020, a decrease of about RMB 5.6 million or 7.2%[49]. - Gross margin declined from approximately 43.6% to approximately 41.3% during the same period, primarily due to changes in revenue sources[49]. - Selling and marketing expenses increased from RMB 12.8 million to RMB 13.3 million, representing a 4.2% increase, mainly due to the increase in the number of retail stores[50]. - Administrative expenses remained stable at RMB 15.6 million for the six months ended June 30, 2020, compared to RMB 15.3 million for the same period in 2019[52]. - Employee benefits expenses decreased to RMB 33,300 thousand in H1 2020 from RMB 40,573 thousand in H1 2019, a reduction of approximately 17.5%[185]. - The group’s total expenses for H1 2020 amounted to RMB 131,560 thousand, compared to RMB 128,643 thousand in H1 2019, indicating a slight increase of approximately 2.2%[185]. Cash Flow and Financial Position - As of June 30, 2020, the group's cash and cash equivalents amounted to RMB 297.8 million, down from RMB 364.9 million as of December 31, 2019, due to an investment of RMB 102.5 million in unallocated silver bars[79]. - Cash and cash equivalents decreased to RMB 297,821 thousand from RMB 364,909 thousand, a decline of approximately 18.4%[140]. - Operating cash flow generated from business activities was RMB 82,598 thousand, an increase of 65% compared to RMB 50,006 thousand in the previous year[150]. - The company reported a net cash outflow from investing activities of RMB 130,174 thousand, compared to an inflow of RMB 55,522 thousand in the previous year, indicating a shift in investment strategy[150]. - The net cash used in financing activities was RMB (5,281) thousand in 2020, slightly increased from RMB (5,257) thousand in 2019[153]. - The net decrease in cash and cash equivalents was RMB (67,743) thousand in 2020, compared to an increase of RMB 92,569 thousand in 2019[153]. - The cash and cash equivalents at the beginning of the period were RMB 364,909 thousand, up from RMB 209,362 thousand at the beginning of 2019[153]. - The cash and cash equivalents at the end of the period were RMB 297,821 thousand, a slight decrease from RMB 302,521 thousand at the end of 2019[153]. Investments and Assets - The group invested approximately RMB 102.5 million in 800,000 ounces of unallocated silver bars as part of its treasury management strategy[23]. - The fair value of the investment in silver bars increased by approximately 46.9% as of the report date[87]. - Non-current assets increased to RMB 173,409 thousand as of June 30, 2020, compared to RMB 58,477 thousand as of December 31, 2019, indicating a significant growth[140]. - The company’s investment in silver bars was RMB 102,873,000 as of June 30, 2020[178]. Shareholder and Corporate Governance - The company did not declare any interim dividend for the six months ended June 30, 2020[128]. - The board aims to distribute dividends of at least 25% of the audited consolidated profit attributable to shareholders for each financial year[93]. - The company appointed Deloitte as the new auditor after the resignation of PwC due to a disagreement over audit fees for the fiscal year ending December 31, 2020[100]. - The company has established a stock option plan to reward eligible participants for their contributions to growth and development[106]. - The company must obtain prior approval from independent non-executive directors for granting stock options to directors or major shareholders[109]. - Any stock options granted exceeding 0.1% of the issued shares or valued over HKD 5 million require shareholder approval[109]. - The company has not granted or agreed to grant any stock options under the stock option plan as of the mid-report date[114]. Employee and Operational Metrics - The group employed approximately 594 employees as of June 30, 2020, down from 642 employees as of December 31, 2019[85]. - The group continues to monitor and evaluate third-party subcontractors to ensure quality standards in renovation and installation services[10]. - The group has established 4 learning centers in Panyu District as of June 30, 2020, up from 3 centers as of December 31, 2019[14]. - The company is upgrading sales and accounting systems to improve data collection processes and respond more quickly to customer needs[27].

Financial Performance - The company's revenue for the year ended December 31, 2019, reached approximately RMB 396.6 million, representing a year-on-year increase of 16.1%[22]. - Profit for the year increased to approximately RMB 95.8 million, reflecting a year-on-year growth of about RMB 23.1 million or 31.8%[22]. - Gross profit margin from continuing operations decreased from 48.7% to 44.4%[22]. - Net profit margin from continuing operations increased from 21.2% to 24.0%, representing a year-on-year increase of approximately 13.2%[22]. - Basic earnings per share for the year were RMB 0.094, an increase of 30.6% compared to RMB 0.072 in the previous year[15]. - Operating profit for the year was RMB 130.2 million, a 27.4% increase from RMB 102.1 million in the previous year[15]. - Profit before tax from continuing operations was RMB 129.7 million, reflecting a year-on-year increase of 25.5%[15]. - Total revenue for the year ended December 31, 2019, was approximately RMB 396.6 million, an increase of about RMB 54.9 million or approximately 16.1% compared to RMB 341.6 million in 2018[74]. - The net profit from continuing operations for the year ended December 31, 2019, was RMB 952 million, with a net profit margin of 24.0%[99]. - Other income for the year ended December 31, 2019, was RMB 19 million, up from RMB 11 million in the previous year, mainly from interest income on cash and cash equivalents[94]. Revenue Breakdown - Information technology services revenue increased by 18.4% from approximately RMB 738 million in 2018 to approximately RMB 874 million in 2019[28]. - Retail services revenue decreased by 4.9% from RMB 1,124 million in 2018 to RMB 1,069 million in 2019, while gross margin improved to 47.3% from 43.9%[30]. - Revenue from off-campus training services rose by 20.3% from approximately RMB 404 million in 2018 to approximately RMB 486 million in 2019[31]. - Property management services revenue increased by approximately RMB 5.8 million or about 11.1%, driven by an increase in managed contracted building area from 6.8 million square meters in 2018 to 9.6 million square meters[75]. - Revenue from extracurricular training services increased by approximately RMB 82 million or about 20.3%, primarily due to the increase in the variety of interest classes offered and the opening of new learning centers[82]. - Revenue from information technology services rose by approximately RMB 136 million or about 18.5%, with engineering services contributing an increase of approximately RMB 121 million or about 16.8% due to an increase in the number of projects undertaken[84]. - Revenue from ancillary lifestyle services surged by approximately RMB 366 million or about 125.8%, driven by property agency services which increased by approximately RMB 283 million or about 204.2% and vocational introduction services which rose by approximately RMB 60 million or about 251.6%[86]. Operational Highlights - The company continues to provide a diversified service portfolio, including property management, renovation, retail, and IT services[21]. - The company has achieved historical highs in both revenue and profit due to improved operational efficiency[19]. - The company plans to continue diversifying its service offerings, focusing on property management, information technology, retail, off-campus training, online marketing, and distribution channels[34]. - The company has established three learning centers in the Panyu District as of December 31, 2019, up from two in 2018[52]. - The company successfully completed multiple projects, including a smart campus environment project, contributing to the increase in information technology services revenue[28]. - The company is upgrading its sales and accounting systems to improve data collection processes and respond more quickly to customer needs[68]. - The company reported a significant increase in operational performance, with a focus on daily operations management and overall business performance supervision[139]. Cost and Expenses - Cost of sales increased by approximately 25.6% to about RMB 2,203 million, aligning with the overall revenue growth during the period[87]. - Gross profit increased by approximately RMB 100 million or about 6.0%, while the gross margin decreased from approximately 48.7% to about 44.4%[88]. - Administrative expenses decreased by 22.0% to RMB 329 million, primarily due to reductions in employee benefits and professional fees[92]. - Financial expenses for the year ended December 31, 2019, amounted to RMB 16 million, primarily related to interest expenses on lease liabilities[97]. Shareholder Information - The company proposed a final dividend of HKD 0.025 per share for the year ended December 31, 2019, totaling approximately HKD 25.4 million (equivalent to about RMB 22.7 million), an increase from HKD 0.022 per share in 2018[161]. - The company’s major shareholder, Elland Holdings Limited, holds 735,840,000 shares, representing 72.48% of the total shares[182]. - The spouse of the chairman, Mr. Peng Linji, has a combined interest of 740,840,000 shares, which accounts for 72.97% of the total shares[182]. - As of December 31, 2019, the company has distributable reserves amounting to approximately RMB 495.2 million, which includes share premium and retained earnings[168]. Governance and Compliance - The board of directors includes experienced professionals with diverse backgrounds in law, finance, and marketing, ensuring robust governance and oversight[142][148][149]. - The company is committed to maintaining high standards of corporate governance, with independent directors overseeing key committees[144][145]. - The management team has extensive experience in their respective fields, contributing to informed decision-making and strategic planning[148][149]. - The company emphasizes environmental sustainability as part of its corporate responsibility, implementing various green measures to mitigate negative environmental impacts[160]. - The company is subject to compliance with the Cayman Islands Companies Law and its own articles of association regarding the distribution of dividends[168]. Future Outlook - Future outlook remains positive, with strategic plans for market expansion and potential mergers and acquisitions being discussed[140]. - The company intends to explore new investment opportunities to address challenges posed by potential economic slowdown in mainland China[69]. - The company aims to enhance its service offerings and operational efficiency through continuous improvement initiatives[146]. - The company is actively pursuing new product development and technological advancements to stay competitive in the market[140].

CLIFFORD MODERN LIVING 祈福生活服務 CLIFFORD MODERN LIVING 祈福生活服務控股有限公司 CLIFFORD MODERN LIVING HOLDINGS LIMITED （於舅曼群島註骨成立之有限公司) 股份代號： 3686 中期報告 INCOLU 目 錄 2 | --- | --- | |-------|--------------------------| | | | | | 公司資料 | | 3 | 管理層討論及分析 | | 24 | 企業管治及其他資料 | | 34 | 中期簡明合併利潤表 | | 36 | 中期簡明合併綜合收益表 | | 37 | 中期簡明合併財務狀況表 | | 40 | 中期簡明合併權益變動表 | | 42 | 中期簡明合併現金流量表 | | 44 | 簡明合併中期財務資料附註 | 公司資料 | --- | --- | |---------------------------------------------------------------------------------|----------------------------- ...

CLIFFORD MODERN LIVING 祈福生活服務 CLIFFORD MODERN LIVING 祈福生活服務控股有限公司 CLIFFORD MODERN LIVING HOLDINGS LIMITED (於開曼群島註冊成立之有限公司) 股份代號:3686 25 16 2018 年報 目 錄 a in to by annu timani 2017-01-1 NETTER of minute illust an and and 2 BILLERS 138-41 4 3 2 G A 118570 V | --- | --- | --- | --- | --- | --- | |-------|-------|---------|-------|---------------------------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2 | | 公司資料 | | | | | 3 | | 財務摘要 | | | | | 4 | | 主席報告 | | | | | | | | | ...