Project Management and Resource Allocation - The company terminated contracts with 6 projects (Zhanjiang Xinghe COCO City, Nanchang Boneng Xinghe iCO, Nanchang Shanglian Xinghe COCO Park, Shanghai Bowan Lanyun Xinghe COCO City, Putian Xinghe COCO Park, Ningxiang Xinghe COCO City) to focus resources on high-quality projects, enhancing sustainable development[1] - The company successfully signed commercial operation service contracts for 5 third-party projects in 2022, including Maoming Xinyi Xinghe COCO City, Jining Xinghe COCO City, Jining Xinghe iCO, Shanshui Outlets · Lu'an Xinghe COCO City, and Zhuhai Lailai Xinghe COCO City[30] - In 2022, the company successfully opened four new projects: Enshi COCO City, Jiaxing COCO City, Guannan Hengji COCO City, and Guangzhou Dachong COCO Garden[51] - The company plans to complete the grand opening of 5-7 projects in 2023, supported by a "Guaranteed Opening Task Force" mechanism[112] - The company transitioned the operation model of 4 projects (Shenzhen Galaxy WORLD COCO Park Phase II, Shenzhen Guangming Galaxy COCO City, Nanjing Galaxy COCO City, Jiangyin Galaxy COCO City) from "entrusted management services" to "whole leasing services" with a pure revenue-sharing rental model (no fixed rent)[101] Business Performance and Financials - The company achieved a profit attributable to shareholders of RMB 15.15 per share in 2022[50] - The company declared a final dividend of HKD 0.07 per share, with a full-year dividend payout ratio of approximately 62%[50] - Revenue for the year ended December 31, 2022, was approximately RMB 561.9 million, a decrease of 1.8% year-on-year[166] - Revenue from entrusted management services was approximately RMB 381.7 million, an increase of 8.5% year-on-year, accounting for 67.9% of total revenue[167] - Gross profit margin for entrusted management services increased to 53.9% in 2022 from 49.1% in 2021[170] - Gross profit margin for brand and management output services remained relatively stable compared to 2021[171] - Other income for the year ended December 31, 2022, was approximately RMB 40.0 million, an increase of 28.5% year-on-year, mainly due to increased bank interest income[172] - Sales expenses for the year ended December 31, 2022, were approximately RMB 12.0 million, an increase of 41.4% year-on-year, primarily due to increased marketing expenses for the Jiaxing Xinghe COCO City project[173] - Total contracted building area as of December 31, 2022, was 3,700 thousand square meters, with a total revenue of RMB 561.854 million[119] - The Greater Bay Area accounted for 81.4% of the total revenue, generating RMB 457.541 million from 39 properties[119] - The Yangtze River Delta region contributed 9.8% of the total revenue, with RMB 55.186 million from 9 properties[119] Operational Strategies and Innovations - The company plans to deepen consumer demand research, enhance product competitiveness, and achieve breakthrough product innovation in 2023, while balancing innovative design and cost control[4] - The company will prioritize efficiency and promote collaboration between headquarters, regions, and projects, ensuring project design novelty and layout rationality through "one store, one strategy" to achieve accurate project positioning and high-quality openings[9] - The company aims to use data to drive consumer and brand demand alignment, leveraging intelligent empowerment for more precise marketing and decision-making[33] - The company is committed to building a digital platform to become a data-driven, open, and asset-light operation platform[54] - The company will use digital operation systems to monitor sales and foot traffic data in real-time, enabling refined operation and timely assistance for tenants[55] - The company plans to construct a smart business operation system, digitizing on-site customers and building a full-scenario data chain to improve operational efficiency[55] - The company aims to achieve a rental rate of no less than 95% in 2023 by deepening strategic joint development opportunities and introducing first-entry brands and innovative formats[109] - The company will focus on refining and solidifying operational highlights, creating benchmark merchants such as "Million-Yuan Stores" and "Ten Million-Yuan Stores" to enhance performance[111] - The company will enhance the value of the membership management system, which will serve as a "ballast stone" for shopping center performance[111] - The company plans to focus on quality and efficiency improvements in 2023, aiming for high-quality development[124] - The company's core strategy for 2023 includes prioritizing efficiency, cooperation, and high-quality expansion[127][128] Brand and Market Position - The company ranked 10th in the "2022 China Commercial Real Estate Top 100 Enterprises" and was awarded the "2022 China Commercial Real Estate Operation Top 10 Enterprises" and "2022 China Commercial Real Estate Operation Excellent Brand" by the China Index Research Institute[21] - The company's COCO Park brand was recognized as one of the "2022 China Commercial Real Estate Project Brand Value Top 10"[21] - The company's Shenzhen Futian Xinghe COCO Park was awarded the "Annual Night Economy Landmark Project" at the China Commercial Real Estate Golden Tripod Awards[21] - The company's brand system includes urban shopping centers "COCO Park," regional shopping centers "COCO City" and "iCO," community shopping centers "COCO Garden," and high-end home furnishing shopping centers "Third Space"[40] - The company's core brands include "COCO Park," "COCO City," "iCO," and "COCO Garden," reflecting its commitment to urban development and quality of life[57] Geographic and Operational Coverage - As of December 31, 2022, the company provided services to 65 commercial property projects (including 13 consulting service projects) across 24 cities in China, with a total contracted building area of approximately 3.7 million square meters, 60.0% of which were developed or owned by independent third parties[13] - The company provided services to 65 commercial property projects across 24 cities in China as of December 31, 2022, with 26 projects in operation and 39 projects not yet operational[60] - The total contracted building area reached approximately 3.7 million square meters, excluding 13 consulting service projects[79] - In 2022, the company signed commercial operation service agreements for 5 third-party projects, adding a contracted area of 408,000 square meters[98] - The Greater Bay Area accounted for 39 projects, while the Yangtze River Delta region had 9 projects[59][84] - The company operates the largest number of shopping centers in Shenzhen and has a scale advantage in core cities of the Greater Bay Area[36] Revenue and Operational Models - The company's revenue sources include fixed fees for market positioning, design, and tenant recruitment, as well as a predetermined percentage of income or profit from operational management services[89][93] - The company's operational models include entrusted management, brand and management output, and leasing services, with varying levels of involvement and cost structures[87][90][94][96] - The company's consulting service projects serve as a foundation for future sustainable operations and stable growth[79] - In 2022, the company's related parties contributed an additional contracted area of 32,000 square meters[98] - The company's operational management services include strategy formulation, marketing activities, tenant management, property management, and rent collection[62] - Rental income from the company's daily operations is recognized as revenue[134] Financial and Accounting Policies - Government grants are recognized in the income statement on a systematic basis, offsetting related costs[139] - Deferred tax assets and liabilities are recognized based on temporary differences between the book value and tax base of assets and liabilities[144] - The company's financial assets are measured at fair value, with changes recognized in profit or loss unless they meet specific criteria for amortized cost or other comprehensive income[180] - The company recognizes expected credit losses for trade receivables and lease receivables, with individual assessments for each asset[159] - The company's investment properties are measured at cost less accumulated depreciation and impairment losses[175] - The company's financial assets are measured at amortized cost, and interest income is recognized using the effective interest method, unless the financial asset subsequently becomes credit-impaired[182] - The company assesses whether there has been a significant increase in credit risk since initial recognition by comparing the risk of default at the reporting date with the risk of default at initial recognition[185] - The company considers both quantitative and qualitative information, including historical experience and forward-looking information, when assessing credit risk[185] Organizational Structure and Leadership - The company's board of directors consists of three executive directors, two non-executive directors, and three independent non-executive directors as of the annual report date[194] - Huang Delin, the Chairman and Executive Director, is responsible for overall business development and the formulation and implementation of the company's business strategies[195] - Tao Muming, the Executive Director and President, oversees business development, strategy implementation, and daily operations of the company[196] - Wen Yi, the Executive Director and General Manager of the Financial Management Center, is responsible for the company's overall financial management, IT systems, legal affairs, and contract management[200] Employee and Workforce Management - The company's total number of employees increased significantly to 826 in 2022, up from 436 in 2021, primarily due to increased self-managed property services and project preparations[190] Strategic and Market Analysis - The company optimized its city strategy, identifying 4 "breakthrough cities," 23 "deep cultivation cities," and 8 "reserve cities" based on commercial attractiveness and strategic layout[164] - The company aims to deepen emotional connections with consumers and explore co-creation of product content, targeting the "Z Generation" as the future main consumer group[53] Operational Metrics and Performance - Total contracted construction area decreased from 3,900 thousand square meters in 2021 to 3,700 thousand square meters in 2022, with the number of properties decreasing from 84 to 65[101] - The total operating retail commercial properties as of December 31, 2022, had a combined shopping center area of 1,451,866 square meters and a parking area of 456,614 square meters, totaling 1,908,480 square meters[108] - Ordos Galaxy COCO City Phase I suspended operations due to an accident, reducing the operating construction area by 48,000 square meters[108] - The average occupancy rate for COCO Park was 96.0% in 2022, down from 98.3% in 2021[121] - The total operating shopping center area as of December 31, 2022, was 1,452 thousand square meters, excluding parking areas[121] Investments and Acquisitions - The company did not have any significant investments, acquisitions, or disposals of subsidiaries, associates, or joint ventures during the year ended December 31, 2022[191]

会议即将开始请稍候下面有请主持人开场尊敬的各位投资者分析师朋友上午好欢迎参加新盛商业管理股份有限公司2022年度业绩发布会出席本次会议的管理层嘉宾是新盛商业执行董事董事会主席黄德林先生大家好执行董事总裁陶牧民先生 各位大家好本次会议我们也特别邀请到关联方新和控股集团财务管理中心副总经理欧群平女士出席 本次发布会分为两个环节第一个环节将先由管理层介绍公司2022年业绩以及未来工作计划第二个环节是问答环节下面首先有请陶总进行分享尊敬的投资者和分析师朋友大家上午好首先由我来向各位介绍公司在2022年的业绩概要及业务回顾 2022年面对疫情的反复以及行业和经济环境的变化我们依然取得了一定的经营业绩各项关键性指标表现的较为平稳我们的营业收入同比微跌1.8%达到5.62亿元毛利润同比下降了 5.3%达到3.13亿元毛利率为55.7%依然保持在行业的较高水平剔除租赁准则对整租项目的影响经调整后的核心规模净利润为1.99亿元同比增长6个百分点核心规模净利润率达到35.4% 同比上升了2.6个百分点截止到2022年底的在首现金为12.7亿元进限比为1.05以此同时2022年我们新签约6个项目新增合约面积共计44万平方米 截止1 ...

(2) 包括上海、南京、常州、無錫、嘉興、連雲港及六安。 下表載列截至2022年12月31日運營中的零售商業物業平均出租率及已開業建築面 積。 運 營 中 項 目 2. 6. 10. 14. 复建築 停車場 中心 (平方米) 汕尾 15. 139,800 深圳能崗星河iCO - 品牌及管理輸出服務 17. - 18_ 8,557 品牌及管理輸出服務 2020年11月 品牌及管理輸出服務 東莞星河COCO Garden 20. 恩施星河COCO City 品牌及管理輸出服務 2022年10月 灌 南恆基星河COCO City 品牌及管理輸出服務 2022年11月 常州武達剃塘星河COCO City 25. ak 整自服務 獨立第三方物樂發展商 星河控股及其哪累人 星河控股及其哪累人 獨立第三方物業開發商 1,451,867 2023年工作計劃 1、 多舉措穩商助商，提高項目出租率：2023年本集團將深挖戰略聯發機遇， 加強品牌「一帶多」能力，為籌開項目提供品牌儲備及支持，同時將大力 推進首進品牌和創新業態的引入，達到出租率不低於95%的目標。 二、 效 率 優 先，合 作 共 贏，做 好「有 質 量 開 業」。 ...

Company Overview - As of June 30, 2022, the group provided services to 92 commercial property projects across 29 cities in China, covering a total contracted gross floor area of approximately 4.2 million square meters[6]. - The group operates 25 retail commercial properties with a total operational gross floor area of about 1.9 million square meters[6]. - The group was ranked 10th among the "Top 100 Commercial Real Estate Enterprises in China" and 6th among the "Top 10 Commercial Real Estate Operation Enterprises in China" as of March 2022[6]. - The group has a comprehensive brand system, including urban shopping centers "COCO Park" and community shopping centers "COCO Garden" targeting different consumer demographics[7]. Operational Models - The group employs three operational models: entrusted management, brand and management output, and whole leasing, allowing for varied levels of involvement in property management[8]. - The entrusted management model allows for higher autonomy in managing projects, potentially leading to better operational performance and increased revenue[14]. - The brand and management output model enables rapid geographic expansion with generally higher gross margins due to lower capital and human resource requirements[18]. - The company operates under three service models: entrusted management, brand and management output, and whole rental services, with the whole rental service model contributing to a contracted area of 279,000 square meters as of June 30, 2022, up from 199,000 square meters in the previous year[27]. Financial Performance - For the six months ended June 30, 2022, the company's revenue was approximately RMB 259.6 million, representing a year-on-year growth of about 0.8%[61]. - Revenue from entrusted management services was approximately RMB 188.8 million, a year-on-year increase of about 10.4%, accounting for approximately 72.7% of total revenue[62]. - The gross profit for the six months ended June 30, 2022, was approximately RMB 149.7 million, reflecting a year-on-year growth of about 2.6%[67]. - The overall gross margin increased to approximately 57.7%, up from about 56.7% in the same period of 2021, marking an increase of approximately 1.0%[69]. - For the six months ended June 30, 2022, the group's profit was approximately RMB 94.4 million, representing a year-on-year increase of about 14.4%[84]. Growth and Expansion - As of June 30, 2022, the total contracted building area reached approximately 4.2 million square meters, an increase from 3.5 million square meters as of June 30, 2021, representing a growth of 20.6%[27]. - The number of properties under management increased to 92 as of June 30, 2022, compared to 69 properties as of June 30, 2021, reflecting a growth of 33.3%[27]. - The company aims to achieve a target of no less than 700,000 square meters of contracted area for the year 2022[49]. - The company is focusing on expanding in first and second-tier cities, identifying 8 first-tier and 28 second-tier cities for future projects[48]. Revenue Sources - Revenue sources include fixed fees for consulting services, a percentage of income or profit from operational management, and management fees from tenants[13]. - The company has a diverse client base, including tenants and clients related to value-added services, generating revenue from rent, management fees, and public space usage fees[23]. - The Greater Bay Area projects account for 59 properties with a contracted construction area of 1,671,000 square meters, contributing RMB 213,091,000 in revenue, which is 82.1% of the total[36]. Cash and Assets - As of June 30, 2022, the group's cash and cash equivalents and time deposits were approximately RMB 1,310.9 million, an increase of about 4.0% compared to December 31, 2021[88]. - The total assets as of June 30, 2022, amounted to RMB 1,831,228 thousand, compared to RMB 1,202,003 thousand as of December 31, 2021[150]. - The investment property value surged to RMB 657,537 thousand from RMB 47,524 thousand, indicating significant asset growth[150]. Dividends and Share Capital - The company declared an interim dividend of HKD 0.035 per ordinary share for the six months ended June 30, 2022, compared to HKD 0 for the same period in 2021[137]. - The total issued share capital of the company was 1,020,039,000 ordinary shares as of June 30, 2022[119]. - The profit attributable to the company's owners for the six months ended June 30, 2022, was RMB 96,089,000, compared to RMB 83,065,000 for the same period in 2021, representing a year-on-year increase of approximately 15.4%[183]. Challenges and Strategic Focus - Since the fourth quarter of 2021, the real estate market has been sluggish, leading to significant valuation discrepancies during negotiations for potential acquisitions[101]. - The company has decided to shift the focus from potential acquisitions to long-term rental opportunities to ensure sustainable revenue[102]. - The company plans to maintain quality while promoting scalable expansion in the second half of 2022[48]. Employee and Governance - As of June 30, 2022, the total number of employees increased to 457 from 436 as of December 31, 2021[108]. - The company has adhered to corporate governance codes and regulations to maximize shareholder returns and enhance transparency[116]. - The interim financial information for the six months ending June 30, 2022, has been reviewed by the auditors and complies with applicable accounting standards[118].

Business Operations - As of December 31, 2021, the company provided services to 84 commercial property projects, covering 25 cities in China, with a total contracted gross floor area of approximately 3.9 million square meters[4]. - The occupancy rate of the company's properties maintained a healthy level of 94% in 2021, with same-store sales increasing by approximately 21% compared to 2020[19]. - The number of cooperative merchants exceeded 4,300, achieving a positive cycle of brand leasing, operational enhancement, and sales growth[19]. - The company has established a comprehensive and widely recognized brand system, including various shopping center formats such as "COCO Park" and "COCO City" targeting different consumer demographics[4]. - The company has successfully navigated challenges during its first year of listing, establishing a solid foundation for long-term development[19]. - The company is committed to enhancing its organizational structure, market expansion, and operational capabilities to support future growth[19]. - The company aims to create exceptional value for consumers, partners, and shareholders by focusing on competitive products and services[5]. - The company has a strategic focus on new consumption, new services, and new technologies as key drivers for future growth[19]. - The company aims to develop benchmark projects in various regions, such as Guangzhou Health Port COCO Park and Xiamen COCO Park, to meet high-quality living and shopping demands[25]. - The company conducted over 100 live broadcasts during the pandemic, accumulating over 3 million online followers, enhancing its operational capabilities[27]. Financial Performance - In 2021, the company achieved revenue of approximately RMB 572.2 million, representing a year-on-year growth of about 29.5%[21]. - The profit attributable to shareholders was approximately RMB 184.9 million, reflecting a year-on-year increase of approximately 45.8%[21]. - The total revenue from continuing operations for the year ended December 31, 2021, was RMB 572.2 million, representing a significant increase compared to RMB 442.0 million in 2020[70]. - The company's gross profit for the fiscal year was approximately RMB 330.4 million, reflecting a year-on-year growth of about 32.9%[103]. - The gross profit margin increased to 57.7%, up approximately 1.4 percentage points from 56.3% in the previous year[104]. - Other income increased by approximately 168.9% to about RMB 31.1 million, primarily due to increased bank interest income[105]. - The company's net profit for the fiscal year was approximately RMB 183.9 million, a year-on-year increase of about 44.2%[115]. - Revenue from entrusted management services was approximately RMB 351.7 million, accounting for about 61.5% of total revenue, with a year-on-year increase of approximately 13.9%[96]. - Revenue from brand and management output services was approximately RMB 198.5 million, accounting for about 34.7% of total revenue, with a year-on-year increase of approximately 74.2%[97]. Market Expansion and Strategy - The company has a strategic focus on regional expansion, particularly in the Greater Bay Area, with 57 projects in that region alone[36]. - The Greater Bay Area accounted for 86.5% of the total revenue, with a total contracted area of 1.6 million square meters[70]. - The company aims to achieve a target of no less than 700,000 square meters of contracted area in 2022, focusing on first and second-tier cities for expansion[84]. - A total of 8 projects are planned for grand openings in 2022, with a dedicated team established to ensure timely launches[85]. - The company targets a rental rate of no less than 95% in 2022 through a tiered leasing mechanism and strategic partnerships[88]. - The company plans to enhance sales growth by improving member operations and developing sales support plans for merchants[88]. - The company will focus on creating 1-2 unique features for each project to enhance quality and attractiveness[89]. - Marketing campaigns will be strategically planned to meet the increasingly personalized consumer demands, aiming to boost both foot traffic and sales[89]. Corporate Governance - The company was listed on the Hong Kong Stock Exchange on January 26, 2021, issuing 250 million new shares at an offer price of HKD 3.86 per share[176]. - The company has adopted the corporate governance code and has complied with all applicable provisions since its listing date[178]. - The company emphasizes the importance of good corporate governance to enhance investor confidence and accountability[177]. - The company has arranged appropriate liability insurance for its directors and senior management, which is reviewed annually[189]. - The company’s management structure separates the roles of the chairman and the CEO, with Mr. Huang Delin as chairman and Mr. Tao Muming as CEO[188]. - All independent non-executive directors confirmed their independence in accordance with Listing Rule 3.13, and the company considers them to be independent individuals[197]. - Each executive director has entered into a service contract with the company for an initial period of 3 years from the date of listing[198]. - Non-executive directors and independent non-executive directors have signed appointment letters with the company for an initial period of 3 years from the date of listing[199]. - The company held two general meetings during the year ended December 31, 2021[195]. Innovation and Future Outlook - The company plans to explore innovative community business models and various cooperation modes in 2022 to enhance operational efficiency and profitability[90]. - The company aims to develop a series of benchmark projects with regional and urban influence, focusing on new consumption trends and opportunities for long-term growth[91]. - The company is investing in R&D for new technologies, allocating $D million towards innovation initiatives[156]. - Market expansion plans include entering E new regions, aiming for a market share increase of F% in those areas[156]. - The company is considering strategic acquisitions to enhance its market position, with potential targets identified[156]. - A new marketing strategy is being implemented, expected to increase brand awareness by G% over the next year[156]. - The management team emphasized the importance of sustainability initiatives, with a budget of $I million allocated for green technology development[156].

Business Operations - As of June 30, 2021, the group provided services to 69 commercial property projects, covering 24 cities in China, with a total contracted gross floor area of approximately 3.5 million square meters[5]. - The group operates 22 retail commercial properties with a total operational gross floor area of about 1.7 million square meters[5]. - The group was ranked 13th in the "Top 100 Chinese Commercial Real Estate Enterprises" and 7th in the "Top 10 Chinese Commercial Property Operation Enterprises" in 2021[5]. - The group has a comprehensive brand system including urban shopping centers "COCO Park" and community shopping centers "COCO Garden" targeting different consumer demographics[6]. - The company has established five regional business units to expand its operations into the Yangtze River Delta and other economically developed cities in the central and western regions[30]. - The company plans to enhance its operational quality while expanding its business scale, focusing on high-quality expansion in the Greater Bay Area and entering the Southwest market[42]. - The company aims to actively seek acquisition targets that meet its internal standards for commercial property operation service providers[42]. Operational Models - The group employs three operational models: entrusted management, brand and management output, and full leasing services, each with varying levels of management involvement[7][19]. - The entrusted management model allows the group to have a high level of autonomy in managing projects, which is believed to enhance operational performance and increase revenue[12]. - The brand and management output model generally results in higher gross margins and facilitates rapid regional expansion due to lower capital and human resource requirements[16]. - The full leasing service model involves the group leasing commercial properties from owners and subleasing to tenants, taking full responsibility for management and operational performance[19]. - The company is focusing on diversifying its operational models, including entrusted management, brand management, and overall leasing, to acquire more commercial properties[42]. Financial Performance - The company's revenue for the six months ended June 30, 2021, was RMB 257.4 million, an increase of 27.8% compared to RMB 201.4 million for the same period in 2020[49]. - Revenue from entrusted management services was RMB 171.0 million, a growth of 21.2% from RMB 141.1 million in the previous year, driven by successful operations of newly opened projects[50]. - Revenue from brand and management output services reached RMB 74.0 million, up 44.2% from RMB 51.3 million in 2020, attributed to increased project operations and a rise in consultancy service offerings[51]. - The company's gross profit for the six months ended June 30, 2021, was RMB 145.9 million, a 29.2% increase from RMB 112.9 million in the same period last year[55]. - The gross profit margin improved to 56.7%, up 0.7 percentage points from 56.0% in 2020, mainly due to a higher proportion of revenue from higher-margin brand and management output services[56]. - The company's profit for the six months ended June 30, 2021, was RMB 82.5 million, representing a 40.3% increase from approximately RMB 58.8 million in the same period of 2020[70]. - The company reported a profit before tax of RMB 113,607,000, up from RMB 80,529,000 in the previous year, indicating a year-over-year increase of 40.9%[114]. - Net profit attributable to the owners of the company for the period was RMB 83,065,000, compared to RMB 58,084,000 in 2020, marking a growth of 42.9%[114]. Revenue Sources - The revenue from the Greater Bay Area for the six months ended June 30, 2021, was RMB 223.1 million, accounting for 86.7% of total revenue, compared to RMB 365.3 million for the entire year of 2020, which was 82.7% of total revenue[32]. - The total contracted building area in the Greater Bay Area was 1.38 million square meters, with 44 properties, contributing significantly to the company's revenue[32]. - Customer contract revenue accounted for RMB 249,629 thousand, up from RMB 196,313 thousand in the previous year[137]. - The total revenue from commercial property operation services was RMB 249,629,000, an increase of 27.1% compared to RMB 196,313,000 for the same period in 2020[139]. Cash Flow and Assets - As of June 30, 2021, the group's cash and cash equivalents were approximately RMB 416.2 million, a 193.8% increase from approximately RMB 141.7 million as of December 31, 2020, attributed to proceeds from the global offering and increased operating income[76]. - The net cash generated from operating activities for the six months ended June 30, 2021, was RMB 46,183,000, compared to RMB 23,464,000 for the same period in 2020, reflecting a 96.5% increase[121]. - The company reported a total equity of RMB 1,028,062,000 as of June 30, 2021, up from RMB 163,255,000 at the end of 2020, indicating a substantial growth in shareholder value[118]. - The total assets minus current liabilities amounted to RMB 1,094,638,000, a significant increase from RMB 232,678,000 as of December 31, 2020[116]. Expenses and Liabilities - The group's administrative expenses for the six months ended June 30, 2021, were RMB 26.2 million, a 6.9% increase from approximately RMB 24.5 million in the same period of 2020, mainly due to increased employee costs and routine administrative activities as a result of the COVID-19 pandemic recovery[67]. - The total employee costs rose to RMB 72,151,000, reflecting a 35% increase from RMB 53,432,000 in the same period of 2020[153]. - The total trade and other payables as of June 30, 2021, were RMB 132,905,000, a decrease from RMB 170,233,000 as of December 31, 2020, representing a reduction of approximately 22%[172]. - The group had no contingent liabilities as of June 30, 2021[75]. Shareholder Information - As of June 30, 2021, the total issued share capital was 1,020,640,000 ordinary shares[98]. - Major shareholders included Mr. Huang with a total of 600,000,000 shares, representing 58.79% of the issued share capital[109]. - The company did not recommend any interim dividend for the six months ended June 30, 2021, consistent with the previous year[111]. - The company declared dividends totaling RMB 50,574,000 for the year 2020, with a distribution of HKD 0.045 per share for ordinary shares[153]. Strategic Initiatives - The company plans to enhance its operational management capabilities and digital platform construction to drive efficiency and support scalable development[46]. - The company is committed to a brand strategy and digital transformation to improve operational efficiency and customer experience[48]. - The company plans to expand its operations through strategic partnerships and joint ventures in the Chinese market[200]. Compliance and Governance - The company has established an audit committee to review the interim report, ensuring compliance with applicable accounting standards[97]. - The management collaborates closely with independent valuation professionals to ensure appropriate valuation techniques and input data for financial reporting[196]. - The company has established a framework for measuring the fair value of financial instruments using observable market data[196].

E-STAR COMMERCIAL MANAGEMENT COMPANY LIMITED 星盛商業管理股份有限公司 （於開曼群島註冊成立的有限公司） 股份代號：6668 目 錄 | 集團簡介 | 2 | | --- | --- | | 公司資料 | 3 | | 獎項 | 4 | | 主席報告 | 6 | | 業務概覽 | 8 | | 管理層討論與分析 | 9 | | 董事及高級管理層 | 21 | | 企業管治報告 | 27 | | 董事會報告 | 37 | | 獨立核數師報告 | 50 | | 綜合損益及其他全面收益表 | 54 | | 綜合財務狀況表 | 55 | | 綜合權益變動表 | 57 | | 綜合現金流量表 | 59 | | 綜合財務報表附註 | 61 | | 四年財務摘要 | 124 | 集團簡介 星盛商業管理股份有限公司（「星盛商業」或「本公司」）連同其附屬公司（「本集團」）是大灣區領先的商用物業運營服務供應商，並 具有全國佈局。截至2020年12月31日，本集團訂立合約以向53個商用物業項目提供服務，覆蓋中國20個城市，總合約建築面 積（「建築面積」）約3.28百萬平方米，當中61.6%由 ...