Financial Performance - For the six months ended June 30, 2021, the Group's revenue amounted to approximately RMB25.2 million, a slight decrease from RMB25.5 million in 2020[15] - Profit attributable to equity shareholders for the same period was approximately RMB16.5 million, up from RMB13.9 million in 2020, representing a growth of 18.7%[15] - For the six months ended 30 June 2021, the Group recorded a revenue of approximately RMB25.2 million, a decrease of approximately RMB0.3 million compared to the same period last year[19] - Profit attributable to equity shareholders increased to approximately RMB16.5 million, up by approximately RMB2.6 million from RMB13.9 million in 2020, mainly due to growth in other income and a drop in administrative expenses[19] - Revenue for the six months ended June 30, 2021, was RMB 25,162,000, a decrease of 1.3% compared to RMB 25,493,000 in 2020[150] - Gross profit for the same period was RMB 19,262,000, down from RMB 19,602,000, reflecting a decline of 1.7%[150] - Profit before tax increased to RMB 22,513,000, representing a growth of 13.6% from RMB 19,801,000 in the previous year[150] - Profit for the period reached RMB 16,533,000, up 19.0% from RMB 13,875,000 in 2020[150] - Total comprehensive income for the period was RMB 13,399,000, down from RMB 22,490,000 in the previous year[158] Revenue Sources - The Group is primarily engaged in property leasing, property management services, and sales of properties held for sale[15] - Rental income for the period was approximately RMB17.8 million, representing a decrease of approximately RMB0.8 million compared to RMB18.6 million in the same period last year[24] - Revenue from property management services increased to approximately RMB7.4 million, up by approximately RMB0.5 million from RMB6.9 million in 2020[24] - For the six months ended June 30, 2021, the revenue from property management services was RMB 7,355,000, an increase from RMB 6,888,000 in the same period of 2020, reflecting a growth of approximately 6.8%[198] - Gross rentals from investment properties for the same period were RMB 17,807,000, a decrease from RMB 18,605,000 in 2020, indicating a decline of about 4.3%[198] Strategic Focus and Future Outlook - The Company aims to enhance its property management services to drive future revenue growth[15] - The Group's strategic focus includes expanding its property leasing portfolio in key urban areas[15] - Future outlook indicates a cautious optimism regarding market recovery and potential growth in property demand[15] - The Group plans to actively explore opportunities to acquire domestic commercial properties with investment potential in the second half of the year[34] - The property management industry is expected to experience significant revenue growth in the long run due to favorable policies and an expanding market size[34] Financial Position and Liquidity - The Group's cash and cash equivalents as of June 30, 2021, were approximately RMB208.4 million, compared to RMB934.6 million as of December 31, 2020[38] - Current assets, current liabilities, and net current assets were approximately RMB218.7 million, RMB45.6 million, and RMB173.1 million, respectively, as of June 30, 2021[40] - The Group's liquidity position was well-managed during the reporting period, with regular monitoring of current assets and borrowings[42] - The Group had no contingent liabilities as of June 30, 2021[46] - The Group's gearing ratio was 20% as of June 30, 2021, consistent with the ratio as of December 31, 2020[40] Employee and Management Information - As of June 30, 2021, the Group employed a total of 135 employees, a decrease from 141 employees as of June 30, 2020[71] - Total staff costs, including directors' emoluments, were approximately RMB 6.6 million for the reporting period, compared to RMB 6.2 million in 2020, reflecting a year-over-year increase of about 6.45%[71] - The Group has not experienced significant problems with employees or disruptions due to labor disputes, maintaining a good relationship with its staff[73] - The Group regularly reviews its remuneration policies and makes necessary adjustments in line with industry standards[71] - Discretionary bonuses are offered to staff with outstanding performance, in addition to basic monthly salaries[71] Corporate Governance - The company has complied with all applicable code provisions of the Corporate Governance Code, except for the separation of the roles of chairman and CEO[6] - The roles of the chairman and CEO are performed by the same individual, Mr. Liu Jia, since the listing date[7] - The company has established four board committees: Audit Committee, Remuneration Committee, Nomination Committee, and Investment Committee[8] - The majority of the members of each board committee are Independent Non-executive Directors[10] - The Audit Committee reviewed the interim report for the six months ended June 30, 2021[105] Dividend and Shareholder Information - The Company declared an interim dividend of RMB0.86 cents (equivalent to HK1.03 cents) per ordinary share for the six months ended 30 June 2021, compared to Nil in 2020[130] - The interim dividend will be paid on or around 20 October 2021, with the register of members closed from 27 September 2021 to 30 September 2021[134] - As of June 30, 2021, Lucky Link Investments Limited held 297,900,000 shares, representing approximately 67.49% of the Company's issued share capital[83] - Top Charm Investments Limited owned 33,100,000 shares, accounting for 7.50% of the Company's issued share capital as of June 30, 2021[83] Market and Economic Conditions - The property management industry in China has exceeded RMB1.2 trillion, with RMB7,217.9 billion invested in real estate development in the first half of 2021, representing a year-on-year growth of 15.0%[32] - China's economic activity is expected to follow a rebound trend in the second half of 2021, supported by the "14th Five-Year Plan" and monetary easing policies[28] - The demand for quality property management services is expected to continue rising as the value of property services enhances[38] - The Group is closely monitoring the impact of COVID-19 on the global economy to evaluate its business objectives[67]

Financial Performance - The company reported a significant increase in total assets, reaching approximately $1.2 billion, representing a growth of 15% year-over-year[3]. - For the financial year ended 31 December 2020, the Group's revenue was approximately RMB51.7 million, a decrease of approximately 27.5% from RMB71.3 million in 2019[30]. - Profit attributable to equity shareholders for the same period was approximately RMB34.0 million, representing a decline of approximately 8.8% compared to RMB37.3 million in 2019[30]. - The basic earnings per share for the year ended 31 December 2020 was approximately RMB0.08, unchanged from 2019[32]. - The group's revenue for the year ended December 31, 2020, was approximately RMB 51.7 million, a decrease of about RMB 19.6 million compared to RMB 71.3 million in 2019, primarily due to no income from the sale of residential properties[35]. - The profit attributable to equity shareholders for the year was approximately RMB 34.0 million, representing a decrease of about 8.8% from RMB 37.3 million in 2019, mainly due to reduced valuation gains on investment properties and increased administrative expenses related to the acquisition of UK properties[35]. - Rental income from property leasing for the year was approximately RMB 36.7 million, down from RMB 39.6 million in 2019, attributed to a decrease in rental rates due to the COVID-19 pandemic[36]. - The average occupancy rate for commercial properties was 60% in 2020, down from 68% in 2019, reflecting the impact of the pandemic on rental income[40]. Market Outlook and Strategy - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[3]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share within the next three years[3]. - A strategic acquisition of a local competitor is anticipated to enhance operational efficiency and increase market penetration[3]. - The domestic economy is projected to recover steadily, with the property management industry market size expected to expand to RMB2,408 billion in 3 to 5 years[24]. - The property management industry is projected to expand to RMB 2,408 billion in the next 3 to 5 years, driven by favorable policies and technological advancements[56]. - The Group plans to explore new revenue growth points and deepen the use of high-tech means to optimize management and services[63]. Investment and Development - New product launches are expected to contribute an additional $50 million in revenue, with a focus on innovative technology solutions[3]. - The company plans to invest $100 million in research and development to drive innovation in its product offerings[3]. - The Group plans to flexibly adjust its commercial leasing strategy and improve overall risk management to enhance future growth potential[24]. - The Group plans to invest in capacity expansion and suitable investment projects to capitalize on potential growth in the coming years, primarily funded by external resources[74]. Corporate Governance - The Company has adopted the Corporate Governance Code and has complied with all applicable provisions except for the separation of the roles of chairman and CEO[176]. - The Company has a remuneration committee chaired by Mr. Lee, which includes members responsible for overseeing executive compensation[148]. - The Board of Directors consists of two executive directors, two non-executive directors, and four independent non-executive directors, indicating a strong independence element in its composition[179]. - The company received written annual confirmations of independence from all Independent Non-executive Directors, affirming their independence[199]. - There are no material relationships among members of the Board, ensuring independence in decision-making[186]. Employee Relations - The Group aims to maintain stable relationships with existing customers and improve service quality to drive future growth[24]. - The Group regularly reviews its remuneration policies and packages to align with industry standards, offering discretionary bonuses for outstanding performance[91]. - There have been no significant employee issues or operational disruptions due to labor disputes, indicating a stable workforce[93]. - The Group maintains a good relationship with its employees, facilitating recruitment and retention of experienced staff[93]. Leadership and Management - Ms. Tse has over 30 years of experience in financial management, including treasury management and financial analysis[111]. - Mr. Li has served as the General Manager of the audit department since January 2008 and has been involved in investment management since 2016[117]. - Mr. Tsoi has over 30 years of experience in accounting, auditing, and financial management, and has been a certified public accountant since September 1981[126]. - The company has seen a consistent leadership presence with Mr. Shek's extensive experience in various sectors, enhancing its governance and strategic direction[143]. - Mr. Liu serves as the Chief Executive Officer and Chairman of the Investment Committee, indicating a strong leadership role within the Company[157]. Financial Position - The total equity of the Group as of December 31, 2020, was approximately RMB 934.6 million, an increase from RMB 919.9 million in 2019[64]. - The Group maintained cash and cash equivalents of approximately RMB 217.8 million as of December 31, 2020, compared to RMB 201.3 million in 2019[64]. - The Group's net current assets were approximately RMB 187.8 million as of December 31, 2020, up from RMB 184.3 million in 2019[64]. - The Group's outstanding bank loan was approximately RMB 14.0 million as of December 31, 2020, down from RMB 20.5 million in 2019[68]. - The Group's gearing ratio remained stable at 20% as of December 31, 2020, consistent with 2019[68]. - The Group's liquidity position was well-managed, with regular monitoring of net current assets and borrowing utilization[68].

Financial Performance - For the six months ended June 30, 2020, the Group's revenue was approximately RMB25.5 million, a decrease of approximately RMB12.3 million compared to RMB37.8 million for the same period in 2019[19]. - Profit attributable to equity shareholders for the same period was approximately RMB13.9 million, down from approximately RMB18.7 million in 2019, reflecting a decline due to reduced gross profit and increased administrative expenses[19]. - The basic earnings per share for the six months ended June 30, 2020, was approximately RMB0.03, compared to RMB0.04 for the same period last year[25]. - Revenue for the six months ended June 30, 2020, was RMB 25,493,000, a decrease of 32% compared to RMB 37,772,000 for the same period in 2019[172]. - Gross profit for the same period was RMB 19,602,000, down from RMB 20,927,000, reflecting a gross margin of approximately 77%[172]. - Profit before taxation decreased to RMB 19,801,000, down 23% from RMB 25,913,000 in the prior year[172]. - Profit for the period was RMB 13,875,000, a decline of 26% compared to RMB 18,744,000 in 2019[174]. - Total comprehensive income for the period was RMB 22,490,000, compared to RMB 19,938,000 in the same period last year, representing an increase of 12.8%[185]. Property Portfolio and Rental Income - The Group's commercial properties portfolio had an occupancy rate of approximately 83% as of June 30, 2020, while residential properties were fully let[28]. - Rental income from the Group's properties was approximately RMB18.6 million for the six months ended June 30, 2020, down from RMB20.0 million in the same period of 2019[28]. - The decline in revenue was primarily due to no property sales in the first half of 2020, compared to RMB10.1 million in property sales revenue in the first half of 2019[25]. - Rental income for the six months ended June 30, 2020, was approximately RMB 18.6 million, a decrease from RMB 20.0 million for the same period in 2019, attributed to tenants vacating upon lease expiration[29]. - Revenue from property management services decreased to approximately RMB 6.9 million for the six months ended June 30, 2020, down from RMB 7.6 million for the same period in 2019[32]. - The Group's property portfolio includes three commercial buildings with a total gross floor area of approximately 89,507 sq.m, and residential properties with a total gross floor area of approximately 1,319 sq.m[28]. Market Environment and Strategic Response - The Group's financial results indicate a challenging market environment impacting both revenue and profit margins[19]. - The Group adjusted its commercial leasing strategies to mitigate immediate rental termination risks and maintain long-term tenant relationships during the COVID-19 pandemic[49]. - The demand for real estate and property management services in China has shown a steady rise since March 2020, with construction and sales activities gradually returning to normal[42]. - The Group plans to maintain a rational property investment strategy and continue identifying commercial buildings with long-term growth potential[52]. Financial Position and Resources - As of June 30, 2020, the total equity of the Group was approximately RMB 933.5 million, an increase from RMB 919.9 million as of December 31, 2019[56]. - The Group maintained cash and cash equivalents of approximately RMB 204.0 million as of June 30, 2020, compared to RMB 201.3 million as of December 31, 2019[56]. - The Group's net current assets were approximately RMB 178.3 million as of June 30, 2020, down from RMB 184.3 million as of December 31, 2019[56]. - The current liabilities increased to approximately RMB 37.9 million as of June 30, 2020, from RMB 30.4 million as of December 31, 2019, primarily due to increased receipts-in-advance and dividend payable[56]. - The Group's outstanding bank loan was approximately RMB 17.3 million as of June 30, 2020, down from RMB 20.5 million as of December 31, 2019[59]. - The gearing ratio of the Group was 1.8% as of June 30, 2020, compared to 2.2% as of December 31, 2019[59]. - The fair value of the pledged assets for the bank loan was approximately RMB 354.6 million as of June 30, 2020, slightly down from RMB 354.8 million as of December 31, 2019[77]. Corporate Governance and Management - The Board does not recommend the payment of any interim dividend for the six months ended June 30, 2020, consistent with the previous year[73]. - The Company has adopted the Corporate Governance Code and has complied with all applicable provisions, except for CG Code provision A.2.1[123]. - The roles of the chairman and CEO are not separated, with Mr. Liu Jia serving in both positions since the Listing Date[123]. - The Board comprises two Executive Directors, two Non-executive Directors, and four Independent Non-executive Directors, indicating a strong independence element in its composition[124]. - The Audit Committee has reviewed the Group's interim report for the six months ended June 30, 2020[136]. - The Company has established four committees to oversee specific aspects of its affairs, each with written terms of reference[131]. - All Directors confirmed compliance with the Model Code regarding securities transactions throughout the six months ended June 30, 2020[127]. Employee and Operational Insights - Total staff costs for the Group were approximately RMB6.2 million for the six months ended 30 June 2020, a decrease from RMB7.2 million in the same period in 2019[96]. - The Group employed a total of 141 employees as of 30 June 2020, an increase from 136 employees as of 30 June 2019[96]. - The Group maintains a good relationship with its employees and has not experienced significant labor disputes or difficulties in recruitment[99]. Future Plans and Investments - The Group plans to pursue suitable investment projects to maximize growth potential in the coming years, primarily funded by net proceeds from the global offering on January 16, 2018[80]. - The unutilized proceeds for the acquisition of properties in the U.K. are expected to be utilized by the second half of 2021, contingent on the easing of COVID-19 restrictions[89]. - The Group's renovation plan has been ongoing since late 2017, with expectations to utilize unutilized proceeds for renovations by the second half of 2021[92]. - The Company plans to seek investment opportunities in U.K. commercial properties to broaden its property portfolio outside of the PRC[89].

Financial Performance - For the year ended December 31, 2019, the Group recorded a revenue of RMB 71.3 million, representing an increase of 15.6% compared to the previous year[34]. - The profit attributable to equity shareholders of the Company amounted to RMB 37.3 million, reflecting a rise of 1.9% year-on-year[34]. - For the financial year ended December 31, 2019, the Group's profit attributable to equity shareholders was approximately RMB 37.3 million, representing an increase of approximately 1.9% compared to RMB 36.6 million in 2018[46][51]. - The Group's revenue for the same period was approximately RMB 71.3 million, which is an increase of approximately 15.6% from RMB 61.7 million in 2018, primarily due to non-recurring revenue from residential property sales[46][51]. - Revenue from property management services for the year ended December 31, 2019, was approximately RMB 15.5 million, down from RMB 18.3 million in 2018, due to a decrease in non-recurring value-added services[60]. - The valuation gain on investment properties for the year ended December 31, 2019, was approximately RMB 26.4 million, down from RMB 33.8 million in 2018, indicating a slowdown in the property market in China[64]. Cash Flow and Financial Stability - As of December 31, 2019, the Group's cash flow increased by 11% to RMB 201.3 million compared to the previous financial year[39]. - The gearing ratio decreased from 3% in 2018 to 2.2% in 2019, representing a reduction of 26%[39]. - The Group's cash flow increased by 11% to RMB 201.3 million compared to the previous fiscal year, while the capital debt ratio decreased by 26% from 3% in 2018 to 2.2% in 2019[42]. - As of December 31, 2019, the total equity of the Group was approximately RMB 919.9 million, an increase from RMB 879.1 million as of December 31, 2018, representing a growth of 4.9%[78]. - The Group maintained cash and cash equivalents of approximately RMB 201.3 million as of December 31, 2019, compared to RMB 181.3 million as of December 31, 2018, indicating an 11% increase[78]. - The Group's net current assets were approximately RMB 184.3 million as of December 31, 2019, up from RMB 166.7 million in the previous year, reflecting an increase of 10%[78]. - The current liabilities decreased to RMB 30.4 million as of December 31, 2019, from RMB 37.2 million as of December 31, 2018, a reduction of 18.5%[78]. - The Group had an outstanding bank loan of RMB 20.5 million as of December 31, 2019, down from RMB 26.5 million in the previous year, showing a decrease of 22.6%[83]. Market and Strategic Outlook - The Group aims to enhance its competitive edge through refined management and prudent selection of investment portfolios to meet investor expectations[39]. - The Group plans to deepen its foothold in existing markets while implementing new development concepts[39]. - The Group aims to enhance the quality and market competitiveness of its property management business as a core task for 2020, while also adjusting commercial leasing strategies and improving risk management[40][42]. - The Group plans to maintain stable relationships with existing customers and improve service quality to tap into new business opportunities for future growth[40][42]. - The Group will continue to invest in commercial buildings to optimize its asset structure and quality, and explore potential overseas markets[40][42]. - Looking ahead to 2020, the Group anticipates a stable operation of the real estate market despite expected downward pressure on the economy[70]. Employee and Management - Total staff costs, including Directors' emoluments, were approximately RMB 17.6 million in 2019, a decrease from RMB 18.7 million in 2018[127]. - The Group employed a total of 138 full-time employees as of December 31, 2019, an increase from 134 employees in 2018[127]. - The Group has not faced significant employee issues or disruptions due to labor disputes, maintaining good relationships with its employees[129]. - The group regularly reviews its compensation policies and benefits to align with industry standards[130]. - The company has a strong leadership team with members holding various professional qualifications, including certified public accountants and tax advisors[157]. Corporate Governance - The Company has adopted the Corporate Governance Code and has complied with all applicable provisions, except for CG Code provision A.2.1[195]. - The Board emphasizes the importance of good corporate governance to safeguard shareholder interests and enhance corporate value[194]. - The governance principles and practices are regularly reviewed to adapt to changing regulatory requirements[194]. - The roles of the chairman and CEO are not separated and are performed by the same individual, Mr. Liu, since the Listing Date[197]. - 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[198].

Financial Performance - For the six months ended June 30, 2019, the Group's revenue was approximately RMB 37.8 million, an increase of approximately RMB 6.7 million compared to RMB 31.1 million for the same period in 2018[12] - Profit attributable to equity shareholders for the same period was approximately RMB 18.7 million, down from RMB 28.9 million in 2018, representing a decrease of approximately 35.5%[12] - The basic earnings per share for the six months ended June 30, 2019, was approximately RMB 0.04, compared to RMB 0.07 for the corresponding period in 2018[18] - The increase in revenue was primarily due to income from property sales in 2019[18] - The decrease in profit was mainly attributed to reduced valuation gains on investment properties compared to the previous year[18] - Total comprehensive income for the period was RMB 19,938,000, compared to RMB 31,363,000 in 2018[172] - Gross profit for the same period was RMB 20,927,000, a decrease of 12.2% from RMB 23,871,000 in 2018[165] - Profit for the period was RMB 18,744,000, down 34.4% from RMB 28,870,000 in the previous year[165] Property Management and Leasing - The Group is engaged in property leasing, property management, and sales of properties held for sale[14] - The Group's commercial properties portfolio had an occupancy rate of approximately 84% as of June 30, 2019, while the residential properties portfolio achieved a 100% occupancy rate[21] - Rental income from the Group's property leasing business was approximately RMB20.0 million for the six months ended June 30, 2019, a decrease from RMB21.3 million for the same period in 2018[21] - The Group will continue to adopt efficient leasing strategies to sustain higher occupancy rates and stable recurring income[33] Investment and Future Strategies - Future strategies may include further expansion in property management and leasing services[18] - The Group continues to explore opportunities for new property developments and acquisitions[18] - The Group plans to explore potential overseas investments, including in London, to balance domestic and foreign investments[36] - The Group plans to pursue suitable investment projects to capitalize on potential growth in the coming years, primarily funded by net proceeds from the Initial Public Offering[62] Financial Position - The fair value of the Group's investment properties was RMB907.8 million as of June 30, 2019, compared to RMB900.9 million as of December 31, 2018[27] - The valuation gain on investment properties for the six months ended June 30, 2019, was approximately RMB11.9 million, down from RMB29.4 million for the same period in 2018[27] - The Group's total equity as of June 30, 2019, was approximately RMB899.0 million, an increase from RMB879.1 million as of December 31, 2018[40] - Cash and cash equivalents were approximately RMB184.1 million as of June 30, 2019, compared to RMB181.3 million as of December 31, 2018[40] - The Group's net current assets were approximately RMB177.5 million as of June 30, 2019, up from RMB166.7 million as of December 31, 2018[40] - The Group's outstanding bank loan was approximately RMB 23.5 million as of June 30, 2019, down from RMB 26.5 million as of December 31, 2018[43] - The gearing ratio of the Group was 2.6% as of June 30, 2019, a decrease from 3% as of December 31, 2018[43] Employee and Management Information - As of June 30, 2019, the Group employed a total of 136 full-time employees, with total staff costs approximately RMB 7.2 million, a decrease from RMB 7.4 million for the same period in 2018[89] - The Group maintains a good relationship with its employees and has not experienced significant problems or disruptions due to labor disputes[92] - The Group has not faced any difficulties in recruiting and retaining experienced staff[92] - The remuneration policy for Directors considers individual performance, contributions, and the Group's affordability[91] - The Remuneration Committee ensures transparent procedures for developing remuneration policies to avoid conflicts of interest[125] Shareholding Structure - As of June 30, 2019, Lucky Link Investments Limited holds 297,900,000 ordinary shares, representing approximately 67.49% of the Company's issued share capital[99] - Capital Century Company Limited has interests in a controlled corporation with 331,000,000 ordinary shares, accounting for 74.99% of the Company's issued share capital[101] - CE Hong Kong directly holds 99.997% of Capital Century, which is deemed to be interested in the same number of shares held by Lucky Link and Top Charm[3] - China Everbright Group holds 100% shares in CE Hong Kong, thus also deemed to be interested in 297,900,000 and 33,100,000 shares[4] - Huijin, indirectly wholly-owned by the State Council of the PRC, holds a 55.67% equity interest in China Everbright Group, thus also deemed to be interested in the same shares[5] Corporate Governance - The Audit Committee reviewed the Group's interim report for the six months ended 30 June 2019[122] - The Remuneration Committee consists of three members, including Mr. Liu Jia, and is responsible for reviewing remuneration packages for Directors and senior management[124] - The Investment Committee includes two executive Directors and three independent non-executive Directors, focusing on investment policies and oversight of implementation[134] - The Nomination Committee is responsible for reviewing Board composition and assessing the independence of non-executive Directors[129] - The Company’s interim report for the six months ended 30 June 2019 was reviewed by the Audit Committee[122] Accounting Policies - The Group has applied HKFRS 16 from January 1, 2019, using the modified retrospective approach, with no restatement of comparative information[169] - The Group adopted HKFRS 16 from 1 January 2019, which may impact future financial reporting but does not restate comparative information[183]

Financial Performance - For the financial year ended 31 December 2018, the Group's profit attributable to equity shareholders was approximately RMB36.6 million, representing an increase of approximately 50.6% compared to RMB24.3 million in 2017[22]. - The Group's revenue for the year ended 31 December 2018 was approximately RMB61.7 million, a decrease of approximately RMB5.0 million from RMB66.7 million in 2017, primarily due to no non-recurring revenue from sales of residential properties in 2018[22]. - Rental income from the property leasing business increased to approximately RMB43.5 million in 2018, up from RMB39.5 million in 2017, attributed to an increase in new tenants and higher monthly rents[26]. - Revenue from property management services was approximately RMB18.3 million for the year ended 31 December 2018, down from RMB20.4 million in 2017, due to a decrease in non-recurring value-added services income[33]. - The basic earnings per share for the year ended 31 December 2018 was approximately RMB0.08, compared to RMB0.07 for the corresponding period in 2017[22]. - The increase in profit was mainly due to higher revenue from property leasing, valuation gains on investment properties, and reduced administrative expenditures[22]. - The total value of investment properties was RMB900.9 million as of 31 December 2018, an increase from RMB876.6 million in 2017, with a valuation gain of approximately RMB33.8 million for the year[35]. - The average occupancy rate for commercial properties was 83% in 2018, up from 76% in 2017, with total rental income from commercial properties reaching RMB42.8 million[29]. - As of December 31, 2018, the total equity of the Group was approximately RMB 879.1 million, an increase from RMB 719.3 million as of December 31, 2017[46]. - The Group maintained cash and cash equivalents of approximately RMB 181.3 million as of December 31, 2018, compared to RMB 42.4 million as of December 31, 2017[46]. - The net current assets of the Group were approximately RMB 166.7 million as of December 31, 2018, up from RMB 26.3 million in the previous year[46]. - The Group's outstanding bank loans were approximately RMB 26.5 million as of December 31, 2018, down from RMB 32.5 million as of December 31, 2017[46]. - The gearing ratio of the Group was 3% as of December 31, 2018, compared to 4.5% as of December 31, 2017[46]. Strategic Focus and Market Outlook - The management is closely monitoring market uncertainties and challenges due to Sino-US trade frictions and global economic growth concerns[17]. - The Group aims to enhance property value and operating profits in its main business areas, including properties, property investment, and management services[15]. - The management is adopting a prudent and responsible approach to navigate changes in the investment market[17]. - The Group plans to focus on the United Kingdom as its primary overseas investment destination, capitalizing on the current lower exchange rate of British pounds[40]. - The Group aims to enhance its quality management and strengthen competitive rental strategies to improve occupancy rates and recurring income[42]. - The Group is seeking quality investment projects in the PRC and plans to collaborate with China Everbright Group to develop high-quality properties[41]. - The Group plans to invest in capacity expansion and suitable investment projects to capitalize on potential growth in the coming years[64]. Employee and Management Insights - The Group expressed gratitude to employees for their efforts in maintaining growth and to shareholders for their support[18]. - Total staff costs, including Directors' emoluments, were approximately RMB18.7 million for the year, an increase from RMB16.8 million in 2017[81]. - The Group employed 134 full-time employees as of 31 December 2018, down from 156 in 2017[81]. - The company maintains a good relationship with its employees and has not experienced significant labor disputes[83]. Corporate Governance and Leadership - The company has adopted a new corporate governance framework to enhance transparency and accountability[151]. - The company has adopted the corporate governance code as set out in Appendix 14 of the Listing Rules since its listing date and has complied with all applicable provisions, except for a deviation from provision A.2.1[155]. - Mr. Liu Jia serves as both Chairman and Chief Executive Officer, which is a deviation from the corporate governance code that stipulates these roles should be separate[171]. - The Board currently consists of two executive directors, two non-executive directors, and four independent non-executive directors, indicating a strong independence element in its composition[157]. - The company held four board meetings and one general meeting during the reporting period, meeting the requirement of at least four regular board meetings per year[163]. - All directors confirmed compliance with the required standards for securities transactions as set out in the Model Code since the listing date[160]. - The company has received written annual confirmations from each independent non-executive director regarding their independence, in accordance with the independence guidelines[173]. - Non-executive directors are appointed for a specific term of three years, subject to renewal after the current term expires[174]. - The company will arrange to hold at least four regular board meetings and a meeting between the Chairman and non-executive directors in the forthcoming year[170]. - The board composition meets the requirements of the Listing Rules, with at least three independent non-executive directors representing at least one-third of the board[172]. - There are no relationships among members of the board that could affect their independence[165]. - The Audit Committee held 2 meetings during the reporting period to review the company's accounting principles and practices, including the final audited financial results for the year ended December 31, 2017[199]. - The Audit Committee monitored the effectiveness of the company's risk management and internal control functions throughout 2018[199]. - The Board has established four committees: Audit Committee, Remuneration Committee, Nomination Committee, and Investment Committee, each with specific written terms of reference[196]. - All directors have full access to company information and may seek independent professional advice at the company's expense[184]. - The independent non-executive directors ensure high standards of regulatory reporting and provide effective independent judgment on corporate actions[184]. - The company has arranged appropriate insurance coverage for directors and officers against legal actions arising from corporate activities, reviewed annually[188]. - Directors are encouraged to participate in continuous professional development to keep their knowledge and skills updated[191]. - The company distributed materials on the latest developments in the Listing Rules and provided relevant reading materials to directors during the reporting period[192]. Investment and Market Position - The company is considering strategic acquisitions to enhance its market position, with a budget of $100 million allocated for potential deals[150]. - The company is investing in new technology development, allocating $50 million for R&D initiatives[150]. - Market expansion plans include entering two new international markets by Q3 2024[150]. - New product launches are expected to contribute an additional $200 million in revenue over the next year[150]. - The company provided an optimistic outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[150]. - User data showed a growth in active users, reaching 5 million, which is a 20% increase compared to the previous year[150]. - The company aims to improve operational efficiency, targeting a 5% reduction in costs by the end of the fiscal year[150]. - Customer satisfaction ratings improved to 90%, reflecting a 5% increase from the previous year[150].

Financial Performance - For the financial year ended 31 December 2018, the Group's profit attributable to equity shareholders was approximately RMB36.6 million, representing an increase of approximately 50.6% compared to RMB24.3 million in 2017[22]. - The Group's revenue for the year ended 31 December 2018 was approximately RMB61.7 million, a decrease of approximately RMB5.0 million from RMB66.7 million in 2017, primarily due to no non-recurring revenue from sales of residential properties in 2018[22]. - Rental income from the property leasing business increased to approximately RMB43.5 million in 2018, up from RMB39.5 million in 2017, attributed to an increase in new tenants and higher monthly rents[26]. - Revenue from property management services was approximately RMB18.3 million for the year ended 31 December 2018, down from RMB20.4 million in 2017, due to a decrease in non-recurring value-added services income[33]. - The basic earnings per share for the year ended 31 December 2018 was approximately RMB0.08, compared to RMB0.07 for the corresponding period in 2017[22]. - The increase in profit was mainly due to higher revenue from property leasing, valuation gains on investment properties, and a reduction in administrative expenditure[22]. Property and Investment - The total value of investment properties was RMB900.9 million as of 31 December 2018, an increase from RMB876.6 million in 2017, with a valuation gain of approximately RMB33.8 million in 2018 compared to RMB18.6 million in 2017[35]. - The average occupancy rate for commercial properties increased to 83% in 2018 from 76% in 2017, with total rental income from commercial properties reaching RMB42.8 million, up from RMB38.8 million in 2017[29]. - Total gross floor area (GFA) under management increased by 13% to approximately 59,078 sq.m. in 2018, compared to 52,236 sq.m. in 2017[33]. - The Group's property portfolio includes three commercial buildings and residential properties, with a total GFA of approximately 89,771 sq.m.[29]. - The Group plans to focus on the United Kingdom as its primary overseas investment destination, capitalizing on the current lower exchange rate of the British pound[40]. - The Group is seeking quality investment projects in the PRC and plans to collaborate with China Everbright Group to develop high-quality properties[41]. Financial Position - As of December 31, 2018, the total equity of the Group was approximately RMB 879.1 million, an increase from RMB 719.3 million as of December 31, 2017[46]. - The Group maintained cash and cash equivalents of approximately RMB 181.3 million as of December 31, 2018, compared to RMB 42.4 million as of December 31, 2017[46]. - The net current assets of the Group were approximately RMB 166.7 million as of December 31, 2018, up from RMB 26.3 million in the previous year[46]. - The gearing ratio of the Group was 3% as of December 31, 2018, down from 4.5% as of December 31, 2017[46]. - The Group's outstanding bank loans were approximately RMB 26.5 million as of December 31, 2018, a decrease from RMB 32.5 million as of December 31, 2017[46]. Management and Governance - The company expressed gratitude to its employees for their efforts in maintaining growth and to shareholders for their support[18]. - The management is closely monitoring uncertainties in domestic and international markets due to Sino-US trade frictions and global economic growth challenges[17]. - The management is adopting a prudent and responsible approach to navigate changes in the investment market[17]. - The company maintains a strong governance structure with various committees, including investment and nomination committees, to guide its strategic initiatives[92]. - The board includes members with extensive experience in international economic and cultural exchange, enhancing the company's strategic positioning[93]. Corporate Strategy - The company aims to enhance the value of its properties and operating profits in its main business areas, including property investment and management services[15]. - The Group plans to invest in capacity expansion and suitable investment projects to capitalize on potential growth in the coming years[64]. - The company is committed to expanding its property management and investment portfolio, leveraging the expertise of its senior management[92]. - The company has invested $50 million in research and development for new technologies aimed at improving operational efficiency[150]. - The company is expanding its market presence in Southeast Asia, targeting a 30% increase in market share by the end of the next fiscal year[150]. Employee Relations - The Group maintains a good relationship with its employees and has not experienced significant labor disputes[83]. - Total staff costs, including Directors' emoluments, were approximately RMB18.7 million for the year, an increase from RMB16.8 million in 2017[81]. - The Group employed 134 full-time employees as of 31 December 2018, down from 156 in 2017[81]. Board Composition and Meetings - The Board currently consists of two executive directors, two non-executive directors, and four independent non-executive directors, indicating a strong independence element in its composition[157]. - The company held four board meetings and one general meeting during the reporting period, meeting the requirement of at least four regular board meetings per year[163]. - All independent non-executive directors have confirmed their independence in accordance with the guidelines set out in Rule 3.13 of the Listing Rules[173]. - The Audit Committee held 2 meetings during the reporting period to review the company's accounting principles and practices, including the final audited financial results for the year ended December 31, 2017[199]. - The Board has established four committees: Audit Committee, Remuneration Committee, Nomination Committee, and Investment Committee, each with specific written terms of reference[196].