|||||||||| 光大永 EVERBRIGHT GRAND CHINA ASSETS Everbright Grand China Assets Limited 光大永年有限公司 (incorporated in the British Virgin Islands with limited liability and transferred by way of continuation into the Cayman Islands) (於英屬創原京群島柱冊成立並以存續方式在開曼群島註冊的有限公司) Stock Code 股份代號: 3699 2024 INTERIM REPORT 中期報告 CONTENTS 目錄 Corporate Information 公司資料 2 Management Discussion and Analysis 管理層討論及分析 6 Disclosure of Interests 權益披露 21 Corporate Governance 企業管治 24 Other Information 其他資料 30 Independent Review Report 獨立審閱報告 34 ...

Financial Performance - For the six months ended June 30, 2024, the group's revenue was approximately RMB 23.9 million, an increase of 8.0% from RMB 22.1 million in 2023[1] - The profit attributable to equity shareholders for the same period was approximately RMB 11.4 million, a decrease of 14.3% from RMB 13.3 million in 2023[1] - The basic earnings per share for the six months ended June 30, 2024, remained at RMB 0.03, unchanged from 2023[1] - The interim dividend per ordinary share was RMB 0.78 cents, down from RMB 1.06 cents in 2023, representing a decrease of 26.4%[1] - The operating profit for the six months ended June 30, 2024, was RMB 14.4 million, a decrease of 16.3% from RMB 17.2 million in 2023[2] - The total comprehensive income for the period was RMB 12.7 million, down from RMB 15.8 million in 2023, reflecting a decrease of 19.3%[3] - Pre-tax profit for the six months ended June 30, 2024, was RMB 3,430,000, down from RMB 3,987,000 in the same period of 2023, reflecting a decrease of 13.9%[12] - Interest income from bank deposits increased to RMB 3,499,000 for the six months ended June 30, 2024, compared to RMB 3,064,000 in 2023, marking a rise of 14.2%[12] Asset and Equity Position - Non-current assets as of June 30, 2024, amounted to RMB 965.1 million, slightly up from RMB 962.9 million as of December 31, 2023[4] - Current assets increased to RMB 234.4 million from RMB 231.4 million as of December 31, 2023, showing a growth of 1.3%[4] - Current liabilities decreased to RMB 19.6 million from RMB 25.8 million as of December 31, 2023, a reduction of 24.5%[4] - The total equity attributable to shareholders increased to RMB 982.4 million from RMB 972.4 million as of December 31, 2023, reflecting a growth of 1.0%[5] - The total cash and cash equivalents as of June 30, 2024, amounted to RMB 223,340 million, an increase from RMB 154,244 million as of December 31, 2023[9] - Trade receivables, net of loss provisions, increased to RMB 11,100 million as of June 30, 2024, from RMB 9,225 million as of December 31, 2023[9] - As of June 30, 2024, the total equity of the group was approximately RMB 982.4 million, an increase from RMB 972.4 million as of December 31, 2023[34] - The group's current assets and liabilities were approximately RMB 234.4 million and RMB 19.6 million, respectively, resulting in a net current asset of RMB 214.9 million, compared to RMB 205.6 million as of December 31, 2023[34] - The capital debt ratio was 18.1%, a slight decrease from 18.6% as of December 31, 2023, primarily due to a reduction in trade and other payables[34] Revenue Sources - Revenue from property management services increased to RMB 7,566,000 for the six months ended June 30, 2024, compared to RMB 5,905,000 for the same period in 2023, representing a growth of 28.1%[10] - Total rental income from investment properties was RMB 16,327,000 for the six months ended June 30, 2024, slightly up from RMB 16,217,000 in the previous year, indicating a growth of 0.7%[10] - Rental income for the six months ended June 30, 2024, was approximately RMB 163 million, a slight increase from RMB 162 million in 2023, with an average occupancy rate of 77% compared to 73% in 2023[28] - Property management service revenue increased to approximately RMB 76 million in 2024 from RMB 59 million in 2023, reflecting an increase of about RMB 17 million[29] Investment and Capital Expenditure - The company acquired property and machinery at a cost of RMB 91,000 for the six months ended June 30, 2024, compared to RMB 20,000 in the same period of 2023, indicating a significant increase in capital expenditure[17] - The fair value of investment properties as of June 30, 2024, was RMB 9,623 million, compared to RMB 9,595 million as of December 31, 2023[31] - The valuation gain on investment properties for the six months ended June 30, 2024, was RMB 10 million, a decrease of about RMB 44 million from RMB 54 million in 2023[31] Corporate Governance and Compliance - The company has complied with all applicable provisions of the corporate governance code, except for the separation of the roles of Chairman and CEO, which are held by the same individual[45] - The audit committee reviewed the accounting standards and practices adopted by the group for the six months ended June 30, 2024[50] - There were no purchases, sales, or redemptions of the company's listed securities during the six months ended June 30, 2024[49] Future Outlook and Strategy - The company anticipates that the real estate market will stabilize due to government policies aimed at boosting economic growth and consumer spending recovery, which will positively impact the property management sector[32] - The group plans to fully utilize the remaining unutilized net proceeds for property acquisitions in major UK cities by the end of 2025[40] - The group has allocated RMB 8.82 million for upgrading and renovating properties, with expectations to fully utilize these funds by the end of 2025[41] - The group is focused on enhancing service quality while maintaining stable cash flow and business growth, adopting a "first establish, then break" principle[33] - The group aims to respond actively to national policies and industry changes to expand its brand influence in the property management sector[33] Employee and Shareholder Information - As of June 30, 2024, the group employed 137 employees and incurred total employee costs of approximately RMB 7.0 million, an increase from RMB 6.6 million in 2023[42] - The company has adopted a share option scheme since December 15, 2017, with 44,140,000 options available for grant as of June 30, 2024[43] - The company declared an interim dividend of RMB 0.78 per share for the six months ended June 30, 2024, totaling approximately RMB 3,443,000, compared to RMB 4,678,000 for the same period in 2023[21] - The board announced an interim dividend of RMB 0.78 per share for the six months ended June 30, 2024, down from RMB 1.06 per share in 2023[47] - The company will suspend share transfer registration from October 7 to October 10, 2024, for dividend eligibility[48] - The interim report for the six months ended June 30, 2024, will be published on the Hong Kong Stock Exchange and the company's website[51]

Financial Performance - For the year ended December 31, 2023, the company's revenue was RMB 46,779,000, a decrease of 10% compared to RMB 52,297,000 in 2022[14] - Profit before tax for 2023 was RMB 26,292,000, down from RMB 28,804,000 in the previous year, reflecting a decline of approximately 5.2%[14] - The net profit for the year was RMB 19,258,000, which is a decrease of 12.9% from RMB 22,053,000 in 2022[14] - For the year ended December 31, 2023, the Group recorded a revenue of RMB 46.8 million, a decrease of approximately 10.5% compared to the previous year[24] - The profit attributable to equity shareholders for the same period was RMB 19.3 million, representing a decline of approximately 12.7% year-on-year, primarily due to reduced rental income[24] - The rental income from the property leasing business was approximately RMB 33.2 million, down from RMB 38.3 million in 2022, attributed to a decrease in average occupancy rate and average rent per square meter[35] - Total rental income for the year ended December 31, 2023, was approximately RMB 33.2 million, down from RMB 38.3 million in 2022, indicating a decrease of about 13.3%[40] - Revenue from property management services was approximately RMB 13.6 million for the year ended December 31, 2023, compared to RMB 14.0 million in 2022, reflecting a decline due to lower average management fees per square meter[44] - The basic earnings per share for the year was approximately RMB 0.04, compared to RMB 0.05 in 2022[34] Assets and Liabilities - Total assets as of December 31, 2023, amounted to RMB 1,194,298,000, an increase of 1% from RMB 1,181,261,000 in 2022[16] - Total liabilities were RMB 221,939,000, slightly up from RMB 215,973,000 in the previous year, indicating a 2.7% increase[16] - The company's net assets reached RMB 972,359,000, a marginal increase from RMB 965,288,000 in 2022, representing a growth of 0.7%[16] - The Group's total equity as of December 31, 2023, was approximately RMB 972.4 million, an increase from RMB 965.3 million in 2022[62] - The Group's net current assets were approximately RMB 205.6 million as of December 31, 2023, up from RMB 200.3 million in 2022[62] - The Group maintained cash and bank balances of approximately RMB 222.2 million as of December 31, 2023, compared to RMB 214.9 million in 2022[62] Gearing Ratio and Financial Leverage - The gearing ratio improved to 18.6% in 2023 from 18.3% in 2022, indicating a slight reduction in financial leverage[16] - As of December 31, 2023, the Group had cash and cash equivalents of RMB 222.2 million and a gearing ratio of 18.6%[25] - The Group's gearing ratio was 18.6% as of December 31, 2023, slightly up from 18.3% in 2022[65] Market Outlook and Strategy - The company plans to continue expanding its value-added services to enhance customer loyalty and adapt to market demand changes[20] - The central government’s proactive fiscal policies and infrastructure investments are expected to support the overall economy and the property management market[19] - The Group aims to enhance service quality and customer satisfaction while focusing on technological innovation and digital transformation to improve management efficiency[29] - Looking forward to 2024, the Group anticipates that government policies will support the development of the commercial property management industry, enhancing service quality and user experience[28] - The property management industry is expected to prioritize coordinated development of quality and speed, enhancing service offerings for long-term sustainability[60] - The Group plans to invest in capacity expansion and suitable investment projects to capitalize on potential growth in the coming years[77] Property Management and Operations - The Group's property portfolio includes three commercial buildings with a total gross floor area of approximately 89,507 square meters[35] - As of December 31, 2023, the average occupancy rate for commercial properties was 57% for Everbright Financial Center, 67% for Everbright International Mansion, and 77% for Ming Chang Building, showing a decline from the previous year[40] - The Group's commercial properties have shown relative stability in occupancy rates and rental contracts compared to residential properties, contributing to a more stable outlook for the property management industry[51] - The Group has made improvements and upgrades to properties to enhance occupancy rates and increase average rent[91] Leadership and Governance - The company has a strong leadership team with diverse expertise in finance, management, and real estate[100][105][112] - The company is committed to strategic development and operational excellence under the leadership of experienced executives[100][105] - The company is focused on maintaining high standards of governance and financial oversight through its audit and investment committees[126] - The board emphasizes transparency, independence, accountability, and responsibility in its corporate governance practices[167] - The Company has complied with all applicable code provisions of the Corporate Governance Code, except for provision C.2.1 regarding the separation of roles between the chairman and CEO[168] - The Board consists of two executive Directors, two non-executive Directors, and four independent non-executive Directors, providing a strong independence element in its composition[170] Human Resources - Total staff costs, including Directors' emoluments, were approximately RMB16.9 million for the year ended December 31, 2023, compared to RMB16.0 million in 2022[96] - The Group employed a total of 139 employees as of December 31, 2023, an increase from 137 employees in 2022[96] Investment and Financial Management - The net proceeds raised from the global offering on January 16, 2018, amounted to approximately RMB116.1 million, with RMB15.0 million utilized by December 31, 2023[86] - As of December 31, 2023, the unutilized net proceeds were approximately RMB101.1 million, slightly down from RMB101.3 million in 2022[89] - The Group plans to fully utilize the remaining unutilized net proceeds for property acquisitions in major cities of the U.K. by the end of 2025[90] - There were no significant investments, acquisitions, or disposals of subsidiaries during the reporting period[78] Economic Context - China's GDP for 2023 was RMB 126,058.2 billion, reflecting a year-on-year increase of 5.2% at constant prices, with a target GDP growth of around 5% for 2024[49] - The International Monetary Fund (IMF) anticipates China's actual GDP to grow by 4.6% in 2024, indicating a recovery momentum post-COVID-19[49] - The property management sector continues to face downward pressure due to the ongoing debt crisis in the real estate market, but government stimulus policies are expected to positively impact the industry[50]

Financial Performance - Total revenue for the year ended December 31, 2023, was RMB 46,779,000, a decrease of 10.0% from RMB 52,297,000 in 2022[5] - Gross profit for the same period was RMB 34,617,000, down 10.0% from RMB 38,509,000 in 2022[5] - Operating profit decreased to RMB 26,333,000, a decline of 9.3% compared to RMB 29,035,000 in the previous year[5] - Profit before tax was RMB 26,292,000, down 8.8% from RMB 28,804,000 in 2022[5] - Net profit for the year was RMB 19,258,000, a decrease of 12.8% from RMB 22,053,000 in 2022[5] - Basic and diluted earnings per share were RMB 0.04, compared to RMB 0.05 in the previous year[5] - Total comprehensive income for the year was RMB 20,136,000, down 30.5% from RMB 28,927,000 in 2022[7] - Pre-tax profit for 2023 was RMB 19,258,000, down from RMB 22,053,000 in 2022, indicating a decline of 12.8%[29] - Basic earnings per share for 2023 were RMB 0.0437, compared to RMB 0.0500 in 2022[29] Revenue Breakdown - Revenue from property management services was RMB 13,545,000 in 2023, down from RMB 14,002,000 in 2022[22] - Rental income from investment properties totaled RMB 33,234,000 in 2023, compared to RMB 38,295,000 in 2022, reflecting a decline of 13.2%[22] - Net other income for 2023 was RMB 6,835,000, a decrease of 18% from RMB 8,335,000 in 2022[22] - For the fiscal year ended December 31, 2023, the group's revenue was approximately RMB 468 million, a decrease of about 10.5% compared to RMB 523 million in 2022, primarily due to a decline in rental income[35] - Rental income from property leasing was approximately RMB 332 million for the year ended December 31, 2023, compared to RMB 383 million in 2022, reflecting a decline due to lower average occupancy rates and average rent per square meter[37] Assets and Equity - Non-current assets increased slightly to RMB 962,862,000 from RMB 958,340,000 in 2022[9] - Current assets rose to RMB 231,436,000, compared to RMB 222,921,000 in the previous year[9] - Total equity increased to RMB 972,359,000 from RMB 965,288,000 in 2022[9] - As of December 31, 2023, the total equity of the group was approximately RMB 972.4 million, an increase from RMB 965.3 million in 2022[50] Cash Flow and Liabilities - The group maintained a healthy cash and bank balance of approximately RMB 222.2 million as of December 31, 2023, compared to RMB 214.9 million in 2022[50] - The net current assets of the group were approximately RMB 205.6 million as of December 31, 2023, up from RMB 200.3 million in 2022[50] - The capital debt ratio of the group was 18.6% as of December 31, 2023, slightly up from 18.3% in 2022[50] - The group has no pledged assets as of December 31, 2023, consistent with 2022[51] Dividends and Shareholder Returns - The company declared a final dividend of RMB 0.006 per share for 2023, down from RMB 0.019 per share in 2022[28] - The board proposed a final dividend of RMB 0.6 per share for the year ended December 31, 2023, compared to RMB 1.90 per share in 2022, resulting in a total annual dividend of RMB 1.66 per share[60] Operational Insights - Major customers contributed approximately 19.8% and 12.6% of total revenue in 2023, compared to 17.7% and 13.2% in 2022[21] - Financing costs decreased significantly to RMB 41,000 in 2023 from RMB 231,000 in 2022[23] - The average occupancy rate for commercial properties was 57% for the Guangda Financial Center and 67% for the Guangda International Building, both showing a decline from the previous year[39] - The total managed building area increased by 11.2% to approximately 66,051 square meters as of December 31, 2023, compared to 59,413 square meters in 2022[41] - The company anticipates that rental trends will stabilize, supported by government policies aimed at economic growth, despite ongoing pressures in the property management sector[44] Future Plans and Investments - The group continues to seek suitable long-term investment projects with potential returns, despite a conservative overall operating environment[48] - The group plans to fully utilize the unutilized net proceeds for property acquisitions in major UK cities by the end of 2025[56] Compliance and Governance - The audit committee reviewed the consolidated financial statements for the year ended December 31, 2023, ensuring compliance with financial reporting procedures[72] - The preliminary announcement of the consolidated financial position and results for the year ended December 31, 2023, was agreed upon by the auditor, Ernst & Young[74] - The company has maintained compliance with the corporate governance code, except for the separation of the roles of chairman and CEO[68] - The chairman and CEO roles are held by the same individual, Mr. Liu, who has extensive experience in real estate investment and operations[70]

Financial Performance - For the six months ended June 30, 2023, the Group's revenue was approximately RMB22.1 million, a decrease of approximately RMB5.0 million compared to RMB27.1 million in the same period last year[16]. - Profit attributable to equity shareholders for the same period was approximately RMB13.3 million, an increase of approximately RMB1.0 million from RMB12.3 million in 2022[21]. - Rental income for the six months was approximately RMB16.2 million, a decrease of approximately RMB3.8 million compared to RMB20.0 million in 2022[23]. - Revenue from property management services was approximately RMB5.9 million, representing a decline of approximately RMB1.2 million from RMB7.1 million in the same period last year[25]. - The decline in revenue was mainly attributed to the drop in occupancy rates across the properties[18]. - Basic earnings per share remained stable at approximately RMB0.03, unchanged from 2022[21]. - Gross profit for the period was RMB16,628,000, down from RMB20,807,000, reflecting a gross margin decline[163]. - Profit from operations increased to RMB17,228,000, compared to RMB16,497,000 in the previous year, indicating a growth of 4.4%[163]. - Total comprehensive income for the period was RMB15,836,000, slightly down from RMB16,275,000 in the prior year[167]. - The profit for the period ended June 30, 2023, was RMB13,321,000, compared to RMB12,250,000 for the same period in 2022, representing an increase of about 8.7%[175]. Property Management and Operations - The average occupancy rate of the properties was approximately 73%, down from 86% in the previous year[23]. - The Group continues to focus on property leasing and management services as its principal business activities[17]. - There were no property sales during the period ended June 30, 2023, consistent with the previous year[26]. - The Group's property portfolio includes three commercial buildings with a total gross floor area of approximately 89,507 square meters[23]. - Revenue from property management services was approximately RMB5.9 million for the period, down from RMB7.1 million in 2022, primarily due to an increase in vacancy rates[28]. - The Group plans to continue expanding property management services and pursue strategies to increase leasing activities and optimize capital management in the second half of 2023[45]. - The Group is considering acquisitions of high-quality projects in mainland China to diversify its business portfolio and generate long-term investment returns[42]. Financial Position and Equity - As of June 30, 2023, the fair value of the Group's investment properties was RMB 959.5 million, an increase from RMB 954.1 million as of December 31, 2022[30]. - The Group's total equity as of June 30, 2023, was approximately RMB 972.7 million, compared to RMB 965.3 million as of December 31, 2022[48]. - The Group maintained cash and bank balances of approximately RMB 224.0 million as of June 30, 2023, up from RMB 214.9 million at the end of 2022[48]. - The gearing ratio was 19.0% as of June 30, 2023, slightly up from 18.3% as of December 31, 2022, mainly due to an increase in trade and other payables[49]. - The net current assets were approximately RMB 204.8 million, compared to RMB 200.3 million as of December 31, 2022, indicating a positive liquidity position[50]. - The capital debt ratio was 19.0% as of June 30, 2023, slightly up from 18.3% as of December 31, 2022, primarily due to an increase in trade and other payables[50]. - As of June 30, 2023, total equity attributable to equity shareholders of the Company increased to RMB 972,737,000 from RMB 952,636,000 as of June 30, 2022, reflecting a growth of approximately 2.3%[175]. Cash Flow and Investments - Cash generated from operations for the six months ended June 30, 2023, was RMB 4,959,000, down from RMB 6,234,000 in 2022, a decline of about 20.4%[179]. - Net cash flows from operating activities decreased to RMB 3,054,000 in the first half of 2023 from RMB 4,779,000 in the same period of 2022, a decrease of approximately 36.1%[179]. - The Company reported net cash flows from investing activities of RMB 3,024,000 for the six months ended June 30, 2023, compared to RMB 225,000 in 2022, showing a significant increase[179]. - The cash and bank balances at the end of the period were RMB 223,982,000, up from RMB 206,261,000 at the end of June 2022, reflecting an increase of approximately 8.6%[181]. Corporate Governance - The Company has adopted the Corporate Governance Code and complied with all applicable provisions, except for the separation of roles between the chairman and CEO[103][105]. - The roles of chairman and CEO are currently held by the same individual, Mr. Liu, who has extensive experience in real estate investment and operations[105]. - The board consists of two Executive Directors, two Non-executive Directors, and four Independent Non-executive Directors, indicating a strong independence element in its composition[108]. - The Company has confirmed that all Directors complied with the Model Code for securities transactions during the six months ended June 30, 2023[110]. - The Audit Committee reviewed the Group's interim report for the six months ended June 30, 2023, focusing on financial information, risk management, and internal control systems[118]. - The Remuneration Committee is responsible for reviewing and recommending remuneration packages for individual Directors and senior management, ensuring transparency in the remuneration policy[122]. - The Nomination Committee is tasked with reviewing Board composition and developing procedures for the nomination and appointment of Directors[125]. - The Investment Committee evaluates investment projects proposed by the Company and reviews the annual investment plan[129]. Shareholder Information - Lucky Link Investments Limited holds 297,900,000 ordinary shares, representing approximately 67.49% of the Company's issued share capital[91]. - Top Charm Investments Limited owns 33,100,000 ordinary shares, accounting for approximately 7.50% of the Company's issued share capital[91]. - The Company declared an interim dividend of RMB 1.06 cents (equivalent to HK 1.16 cents) per ordinary share for the six months ended 30 June 2023, compared to Nil in 2022[144]. - The interim dividend will be paid on or around 18 October 2023, with the register of members closing from 26 September 2023 to 29 September 2023[149][148]. - The Share Option Scheme will remain in force for 10 years from its adoption date, expiring on 14 December 2027[139]. - During the six months ended 30 June 2023, neither the Company nor its subsidiaries purchased, sold, or redeemed any of the listed securities[142]. Accounting and Reporting - The Group's interim financial information has been prepared in accordance with Hong Kong Accounting Standard ("HKAS") 34 Interim Financial Reporting[186]. - The accounting policies adopted for the interim financial information are consistent with those applied in the preparation of the Group's annual consolidated financial statements for the year ended 31 December 2022[188]. - Amendments to HKAS 1 require the disclosure of material accounting policy information, which is expected to influence decisions made by primary users of financial statements[195]. - The amendments to HKFRS Practice Statement 2 provide non-mandatory guidance on applying the concept of materiality to accounting policy disclosures[198]. - The Group has applied the amendments to accounting policies since 1 January 2023, which did not impact the interim financial information but are expected to affect annual financial statements[199].

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。 EVERBRIGHT GRAND CHINA ASSETS LIMITED 光大永年有限公司 （於英屬維爾京群島註冊成立並以存續方式 在開曼群島註冊的有限公司） （股份代號：3699） 截至2023年6月30日止六個月中期業績公告 財務摘要 • 截至2023年6月30日止六個月，本集團的收益及本公司權益股東應佔溢 利分別約為人民幣22.1百萬元（2022年：人民幣27.1百萬元）及約人民幣 13.3百萬元（2022年：人民幣12.3百萬元）。 • 截至2023年6月30日止六個月，本集團每股基本盈利約為人民幣0.03元 （2022年：約人民幣0.03元）。 • 截至2023年6月30日止六個月中期股息為每股普通股人民幣1.06分（相當 於1.16港仙）（2022年：無）。 光大永年有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然公佈本公司及 ...

Financial Performance - For the year ended December 31, 2022, the Group recorded a revenue of RMB 52.3 million, a decrease of approximately 0.8% compared to the previous year[18]. - The profit attributable to equity shareholders amounted to RMB 22.1 million, a decrease of approximately 32.4% over the same period last year, primarily due to a drop in valuation gains on investment properties[18]. - For the financial year ended December 31, 2022, the Group's revenue was approximately RMB 52.3 million, a decrease of 0.8% compared to RMB 52.7 million in 2021[27]. - Profit attributable to equity shareholders for the same period was approximately RMB 22.1 million, representing a decline of 32.4% from RMB 32.7 million in 2021, primarily due to a decrease in valuation gains on investment properties[29]. - The basic earnings per share for the year ended December 31, 2022, was approximately RMB 0.05, down from RMB 0.07 in 2021[29]. - Rental income from the property leasing business was approximately RMB 38.3 million for the year ended December 31, 2022, an increase from RMB 37.3 million in 2021, attributed to a slight rise in average rent per square meter[30]. - Total rental income for the year ended December 31, 2022, was approximately RMB 38.3 million, compared to RMB 37.3 million in 2021[36]. - Revenue from property management services decreased to approximately RMB 14.0 million in 2022 from RMB 15.4 million in 2021, attributed to a decline in occupancy rates[42]. Cash and Financial Position - As of December 31, 2022, the Group had cash and bank balances of RMB 214.9 million and a gearing ratio of 18.3%[19]. - As of December 31, 2022, the Group's cash and bank balances amounted to RMB 214.9 million, with a capital debt ratio of 18.3%[21]. - The Group's net current assets were approximately RMB 200.3 million as of December 31, 2022, up from RMB 173.0 million in 2021[61]. - The Group maintained cash and bank balances of approximately RMB 214.9 million as of December 31, 2022, compared to RMB 203.8 million in 2021[61]. - The Group's gearing ratio was 18.3% as of December 31, 2022, slightly down from 19.4% in 2021[62]. - The Group has no contingent liabilities as of December 31, 2022[68]. - The Group has no charged assets as of December 31, 2022, following the repayment of a bank loan of RMB 7.0 million during the year[63]. Dividends and Shareholder Returns - The Board recommended a final dividend of RMB 1.90 cents (equivalent to HK 2.17 cents) per ordinary share for the financial year ended December 31, 2022[18]. - The Group is committed to providing ideal dividend returns to shareholders, proposing a final dividend of RMB 1.90 per share for the fiscal year ended December 31, 2022[29]. Market and Economic Outlook - The gradual recovery of economic activities in Mainland China is expected to support the prospects for economic recovery[13]. - Looking forward to 2023, the property management industry is expected to expand in scale while improving service quality, driven by a recovering economic outlook[25]. - The tightening of financing policies in the real estate market has led to an unprecedented increase in mergers and acquisitions[14]. - The property management industry is expected to benefit from the integration of technologies such as IoT and big data, enhancing competitiveness and reducing labor costs[48]. - The Group remains cautiously optimistic about the property management industry's development in 2023, despite uncertainties in the global economy[58]. Strategic Initiatives and Business Development - The Group aims to enhance its foothold in the property management industry by focusing on innovation and sustainable development[19]. - The Group plans to flexibly adjust its commercial leasing strategy to improve overall risk management and maintain long-term relationships with existing customers[19]. - The Group is expanding its value-added services and upholding the philosophy of achieving high-quality development through innovation[17]. - The "14th Five-Year" Plan is expected to accelerate industry development and increase service coverage[17]. - The Group plans to enhance service quality and profitability of properties under management, shifting focus from aggressive expansion to quality growth[53]. - The Group plans to continue identifying investment opportunities in mainland China while seeking synergies with its parent company, China Everbright Group[57]. - The Group has started acquiring new tenants since 2021, leveraging the synergy with China Everbright Group to stabilize leasing business growth[52]. - The Group plans to fully utilize the remaining unutilized net proceeds for property acquisitions in major cities of the U.K. by the end of 2024[87]. Operational Metrics - As of December 31, 2022, the average occupancy rate for commercial properties was 70%, down from 81% in 2021[36]. - The total gross floor area (GFA) under management decreased by 8.6% to approximately 59,413 sq.m. as of December 31, 2022[42]. - The property portfolio includes three commercial buildings with a total gross floor area of approximately 89,507 square meters, unchanged from 2021[30]. - The fair value of the Group's investment properties as of December 31, 2022, was RMB 954.1 million, a slight increase from RMB 953.7 million in 2021[43]. - Valuation gains on investment properties for the year were approximately RMB 0.1 million, a decrease of approximately RMB 17.4 million compared to RMB 17.5 million in 2021, indicating market challenges due to COVID-19[43]. Human Resources and Corporate Governance - Total staff costs, including Directors' emoluments, were approximately RMB 16.0 million for the year ended December 31, 2022, compared to RMB 15.8 million in 2021[93]. - The Group employed a total of 137 employees as of December 31, 2022, down from 141 employees in 2021[93]. - The company regularly reviews its compensation policies and benefits to align with industry standards[94]. - The company has a strong leadership team with diverse backgrounds in finance and management, ensuring effective oversight and strategic direction[110]. - The Company is committed to maintaining high standards of corporate governance through its independent directors and audit committee[123]. - The Board is responsible for overseeing the Group's businesses, strategic decisions, and performance[175]. - The company emphasizes a corporate culture of integrity and accountability to achieve sustainable growth[166]. Board Composition and Leadership - The Board currently consists of two executive directors, two non-executive directors, and four independent non-executive directors, ensuring a strong independence element[173]. - The independent non-executive directors provide independent judgment on strategy, policy, and performance[192]. - The company has a diverse board with members having extensive experience in finance, investment, and governance[140]. - The company has adopted the Corporate Governance Code and complied with all applicable provisions except for CG Code provision C.2.1[167]. - All independent non-executive directors confirmed their independence in accordance with the guidelines[194].

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。 EVERBRIGHT GRAND CHINA ASSETS LIMITED 光大永年有限公司 （於英屬維爾京群島註冊成立並以存續方式 在開曼群島註冊的有限公司） （股份代號：3699） 年度業績公告 截至2022年12月31日止年度 光大永年有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然公佈本公司及 其附屬公司（統稱「本集團」）截至2022年12月31日止年度的綜合財務業績，連同 截至2021年12月31日止年度的比較數字。 ...

Financial Performance - For the six months ended June 30, 2022, the Group's revenue was approximately RMB27.1 million, an increase of approximately RMB1.9 million compared to RMB25.2 million in the same period last year, representing a growth of about 7.5%[32] - Profit attributable to equity shareholders for the same period was approximately RMB12.3 million, a decrease of approximately RMB4.2 million from RMB16.5 million in 2021, reflecting a decline of about 25.5%[32] - The basic earnings per share for the Group was approximately RMB0.03, down from RMB0.04 in 2021[32] - Gross profit for the same period was RMB 20,807,000, up from RMB 19,262,000, indicating a growth of 8.05%[196] - Profit for the period decreased to RMB 12,250,000, down 26.00% from RMB 16,533,000 in the prior year[196] - Earnings per share for the six months ended June 30, 2022, was RMB 0.03, compared to RMB 0.04 for the same period in 2021, reflecting a decline of 25%[200] - Profit before tax was RMB 16,295,000, down from RMB 22,513,000, a decrease of 27.51%[196] Revenue Sources - The increase in revenue was mainly due to a rise in the average rent per square meter[32] - For the six months ended June 30, 2022, the Group generated rental income of approximately RMB20.0 million, representing an increase of approximately RMB2.2 million compared to RMB17.8 million in the same period last year[34] - The Group's property management services revenue was approximately RMB7.1 million for the six months ended June 30, 2022, a decline of approximately RMB0.3 million from RMB7.4 million in the same period last year[34] - Valuation gains on investment properties were RMB 735,000, significantly lower than RMB 9,574,000 in the previous year, a decrease of 92.31%[196] Business Operations - The Group is engaged in property leasing, property management services, and sales of properties held for sale[32] - The interim results reflect the Group's ongoing business operations and market conditions affecting performance[32] - The Group continues to focus on enhancing property management services to drive revenue growth[32] - Future strategies may include exploring new property investment opportunities to improve overall profitability[32] - The Group's rental income faced downward pressure due to the fluctuating epidemic situation, but new tenants have been acquired, contributing to stable growth[44] Property Portfolio - As of June 30, 2022, the Group's property portfolio includes three commercial buildings with a total gross floor area of approximately 89,507 sq.m and an average occupancy rate of approximately 86%, up from 84% in 2021[34] - The fair value of the Group's investment properties was RMB955.0 million as of June 30, 2022, with valuation gains amounting to approximately RMB0.7 million, a decrease of approximately RMB8.9 million compared to RMB9.6 million in 2021[38] - The Group's investment properties have not seen any sales during the period ended June 30, 2022, consistent with the same period last year[34] Financial Position - As of June 30, 2022, the Group's total equity was approximately RMB 952.6 million, an increase from RMB 940.7 million as of December 31, 2021[53] - The Group maintained cash and cash equivalents of approximately RMB 206.3 million, up from RMB 203.8 million at the end of 2021[53] - The current assets were approximately RMB 212.4 million, while current liabilities were RMB 26.3 million, resulting in net current assets of RMB 186.1 million[53] - The Group's gearing ratio decreased to 18.7% from 19.4% due to the full repayment of bank loans during the period[53] - The Group had no contingent liabilities as of June 30, 2022, maintaining a stable financial position[63] - The Group's liquidity risk is managed by maintaining an adequate level of cash and cash equivalents[56] Corporate Governance - The Company has adopted the Corporate Governance Code and has complied with all applicable provisions, except for CG Code provision C.2.1, throughout the six months ended 30 June 2022[144] - The roles of the chairman and CEO are not separated and are performed by the same individual, Mr. Liu Jia, since the Listing Date[144] - The Board comprises two Executive Directors, two Non-executive Directors, and four Independent Non-executive Directors, indicating a strong independence element in its composition[147] - The Audit Committee, consisting of three Independent Non-executive Directors, has reviewed the Group's interim report for the six months ended June 30, 2022[156] - The Company has established four Board committees to oversee specific aspects of its affairs, ensuring clear authority and duties[152] Employee and Labor Relations - Total staff costs during the reporting period were approximately RMB6.4 million, compared to RMB6.6 million in 2021[115] - The Group employed a total of 138 employees as of June 30, 2022, an increase from 135 employees in the previous year[115] - The Group has not experienced significant problems with employees or disruptions due to labor disputes, maintaining a good relationship with its staff[116] Future Plans and Strategies - The Group plans to expand income from property management services and actively seek domestic commercial properties with investment potential for acquisition in the second half of 2022[44] - The Group aims to enhance its competitiveness through diversified integration and improve service quality and user experiences as part of its long-term strategy[48] - The Group plans to invest in capacity expansion and pursue suitable investment projects to capitalize on potential growth in the coming years[63] - The expected timeline for utilising the remaining Net Proceeds is subject to change based on market conditions and business developments[107] Shareholding Structure - As of June 30, 2022, Lucky Link Investments holds 297,900,000 shares, representing approximately 67.49% of the company's issued share capital[124] - Top Charm Investments owns 33,100,000 shares, accounting for about 7.50% of the total issued shares[125] - Capital Century Company, as a controlling corporation, is deemed to be interested in the shares held by Lucky Link and Top Charm, totaling 331,000,000 shares or 74.99%[132] - China Everbright Holdings Company Limited also holds 331,000,000 shares, representing 74.99% interest in the company[132]

Financial Performance - The company reported a significant increase in total assets, reaching approximately $1.2 billion, representing a growth of 15% year-over-year[2]. - For the year ended 31 December 2021, revenue was RMB52.7 million, an increase of approximately 1.9% over the same period last year[15]. - The Group's profit attributable to equity shareholders amounted to RMB32.7 million, a decrease of approximately 3.8% over the same period last year[15]. - The basic earnings per share for the year ended December 31, 2021, was approximately RMB 0.07, down from RMB 0.08 in 2020[27]. - Rental income from the property leasing business was approximately RMB 37.3 million for the year ended December 31, 2021, an increase from RMB 36.7 million in 2020[28]. - Revenue from property management services increased to approximately RMB 15.4 million in 2021 from RMB 15.0 million in 2020, driven by higher occupancy rates[42]. Market Outlook and Strategy - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[2]. - New product launches are expected to contribute an additional $50 million in revenue, with a focus on technology enhancements[2]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share within the next three years[2]. - A strategic acquisition of a local firm is anticipated to enhance operational capabilities and is expected to close by Q3 2022[2]. - The Group plans to flexibly adjust its business strategies and explore more high-quality value-added services[15]. - The Group aims to maintain stable relationships with its existing customer base while identifying acquisition projects for future growth[15]. Sustainability and Innovation - The management emphasized a commitment to sustainability, aiming for a 30% reduction in carbon emissions by 2025[2]. - The company has allocated $30 million for research and development in innovative technologies over the next fiscal year[2]. - In 2022, the Group plans to explore the community value-added service sector within the property management industry to enhance customer-centric and refined management services[51]. Corporate Governance - The company is committed to maintaining high standards of corporate governance and compliance with regulatory requirements[113]. - The Board composition includes independent non-executive Directors representing half of the Board, indicating a strong independence element[129]. - The company has adopted the Corporate Governance Code (version up to December 31, 2021) and complied with all applicable code provisions except for CG Code provision A.2.1[125]. - The independent non-executive directors play a crucial role in providing independent judgment on strategy, performance, and risk management[142]. - The company has established a framework for the appointment, re-election, and removal of directors, ensuring transparency and accountability[143]. Leadership and Management - The company has a strong leadership team with directors experienced in various sectors, including real estate, public relations, and international trade, enhancing its strategic capabilities[96]. - The leadership team has a diverse educational background, with qualifications in economics, management, and civil engineering, contributing to informed decision-making[94]. - The company emphasizes the importance of governance and management expertise, as evidenced by the qualifications of its executive team[94]. - The company is led by Mr. Liu Jia, who serves as both Chairman and Chief Executive Officer, providing consistent leadership and management since the listing date[131]. Risk Management - The Group will implement comprehensive risk control measures in its operations[15]. - The company has arranged appropriate insurance coverage for directors' and officers' liabilities, which is reviewed annually[155]. - The board is collectively responsible for directing and supervising the company's affairs, ensuring sound internal control and risk management systems are in place[150].