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].

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]