Financial Performance - For the three months ended September 30, 2020, the group recorded revenue of RMB 13.6 million, a decrease of 31.0% compared to the same period in 2019[7]. - The profit attributable to owners of the company for the same period was RMB 3.5 million, down 62.3% year-on-year[7]. - Basic earnings per share for the three months ended September 30, 2020, was RMB 0.02, compared to RMB 0.05 for the same period in 2019, representing a decrease of 60.0%[10]. - Operating profit for the period was RMB 5.1 million, a decline of 51.2% from RMB 10.5 million in the previous year[8]. - The total comprehensive loss for the period amounted to RMB 349, compared to a comprehensive income of RMB 9.2 million in the same period last year[10]. - The overall financial performance indicates a challenging environment with significant revenue declines across key segments[19]. - Rental income decreased by 31.0% from RMB 197 million in the same period of 2019 to RMB 136 million in this period, primarily due to reduced leasing space from educational institutions in Langfang, China[31]. - Operating profit fell by 51.2% from RMB 10.5 million in the same period of 2019 to RMB 5.1 million, mainly due to the decrease in rental income[32]. - Net profit decreased by 62.1% from RMB 9.2 million in the same period of 2019 to RMB 3.5 million, influenced by various factors including reduced rental income[48]. Revenue Breakdown - Revenue from educational facility leasing dropped by 30.4% to RMB 12,442,000 compared to RMB 17,889,000 in the previous year[19]. - Revenue from ancillary facility commercial leasing decreased by 36.7% to RMB 1,171,000 from RMB 1,851,000 year-over-year[19]. Expenses and Costs - Employee costs increased by 78.3% to RMB 1.69 million compared to RMB 0.95 million in the previous year[8]. - Interest income decreased by 90.9% to RMB 15, while interest expenses increased by 276.0% to RMB 1.6 million[8]. - Other net expenses amounted to RMB (1,294,000) for the three months ended September 30, 2020, compared to RMB 768,000 in the same period of 2019[21]. - Total other expenses decreased by 51.9% to RMB 608,000 from RMB 1,263,000 year-over-year[22]. - Interest expenses rose by 276.0% from RMB 0.4 million in the same period of 2019 to RMB 1.6 million, primarily due to financing for property acquisition in Jakarta, Indonesia[46]. - Property tax and land use tax increased by 11.9% from RMB 2.5 million in the same period of 2019 to RMB 2.8 million due to property acquisitions in Langfang, China[36]. Government Grants and Subsidies - The company recognized government grants of RMB 200, which was not present in the previous year[8]. - The company received government subsidies of RMB 0.2 million during this period, compared to zero in the same period of 2019[33]. Capital Expenditures and Investments - The company allocated HKD 31.8 million for the construction of dormitories in Langfang, China, with HKD 29.8 million utilized and HKD 2.0 million remaining as of September 30, 2020, expected to be used by December 31, 2021[52]. - For general operating funds, the company allocated HKD 43.5 million, with HKD 6.5 million utilized and HKD 34.0 million remaining, also expected to be used by December 31, 2021[52]. - The company has made a prepayment of RMB 14,738,000 for the purchase of Misheel property, with a remaining balance of RMB 17,974,000 to be paid in stages upon completion[56]. - The purchase price for the Misheel property in Ulaanbaatar, Mongolia, is RMB 32,712,000[54]. Shareholding and Governance - The company’s major shareholder, Raffles, confirmed no involvement in any competing business as of September 30, 2020[63]. - The company’s major shareholder holds a 75% equity interest, amounting to 135,000,000 shares as of September 30, 2020[69]. - The company reported a significant shareholding by Mr. Zhou, who holds 462,907,764 shares, representing approximately 33.58% of the issued shares[71]. - Raffles, the direct holding company, has a substantial ownership of 135,000,000 shares, accounting for 75% of the issued shares[73]. - The company has no other individuals or entities holding 5% or more of the shares as of September 30, 2020[74]. - The audit committee, consisting of three independent non-executive directors, reviewed the accounting principles and practices adopted by the group, confirming compliance with applicable accounting standards[77]. - The total number of issued shares of the company as of September 30, 2020, is 180,000,000 shares[73]. - Mr. Zhou and his spouse, Ms. Chung, collectively own 9.93% of Raffles, indicating a strong family interest in the company[72]. - The company has disclosed no significant interests held by directors in any important transactions or contracts during the period[75]. - The audit committee is chaired by Mr. Lin Binglin, ensuring independent oversight of financial reporting[77]. - The company is committed to full disclosure in accordance with GEM listing rules and applicable accounting standards[77]. - The chairman and executive director, Mr. Zhou, confirmed the company's governance practices in the report dated October 23, 2020[78]. Future Outlook - The company has implemented strict cost control measures and deferred capital expenditures to ensure sufficient funds for operational needs amid the pandemic[49]. - The company anticipates a long-term recovery in the education sector, with improvements in student occupancy and rental income expected over time[49]. Dividends - No dividends were declared for this period, consistent with the same period of 2019[29]. Contingent Liabilities and Acquisitions - As of September 30, 2020, the company reported no significant contingent liabilities[60]. - The company has not engaged in any significant acquisitions or disposals of subsidiaries or joint ventures as of September 30, 2020[61].

香港聯合交易所有限公司GEM（分別為「聯交所」及「GEM」）的特色 GEM乃為較於聯交所上市的其他公司帶有更高投資風險的中小型公司提供上市的市場。有意投資者應了解投 資該等公司的潛在風險，並應僅於經過審慎周詳考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於聯交所主板買賣的證券承受較大的市 場波動風險，同時亦無法保證在GEM買賣的證券會有一個高流通量的市場。 香港交易及結算所有限公司及聯交所對本報告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並 明確表示概不就因本報告全部或任何部分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。 本報告乃遵照GEM證券上市規則（「GEM上市規則」）的規定提供有關東方大學城控股（香港）有限公司（「本公 司」）的資料，本公司董事（「董事」）願共同及個別對此負全責。董事經作出一切合理查詢後確認，就彼等深知 及確信，本報告所載資料在所有重大方面均屬準確完整及沒有誤導或欺詐成分，且概無遺漏其他事宜，致使 本報告中任何聲明或本報告帶有誤導成分。 目錄 | 公司資料 | 2 | | --- | --- | | 主席報告 | 4 | | ...

香港聯合交易所有限公司（「聯交所」）GEM（「GEM」）的特色 GEM乃為較於聯交所上市的其他公司帶有更高投資風險的中小型公司提供上市的市場。有意投資者應了解投 資該等公司的潛在風險，並應僅於經過審慎周詳考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於聯交所主板買賣的證券承受較大的市 場波動風險，同時亦無法保證在GEM買賣的證券會有一個高流通量的市場。 香港交易及結算所有限公司及聯交所對本報告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並 明確表示概不就因本報告全部或任何部分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。 本報告乃遵照GEM證券上市規則（「GEM上市規則」）的規定提供有關東方大學城控股（香港）有限公司（「本公 司」）的資料，本公司董事（「董事」）願共同及個別對此負全責。董事經作出一切合理查詢後確認，就彼等深知 及確信，本報告所載資料在所有重大方面均屬準確完整及沒有誤導或欺詐成分，且概無遺漏其他事宜，致使 本報告中任何聲明或本報告帶有誤導成分。 目錄 | 公司資料 | 2 | | --- | --- | | 財務摘要 | 4 | | 簡明 ...

Financial Performance - The group recorded revenue of approximately RMB 39.0 million for the six months ended December 31, 2019, representing a growth of 3.3% compared to the same period in 2018[9]. - Profit attributable to owners of the company for the six months ended December 31, 2019, was approximately RMB 16.4 million, a decrease of 3.1% from the same period in 2018[9]. - Basic earnings per share for the six months ended December 31, 2019, remained at RMB 0.09, unchanged from the same period in 2018[9]. - Operating profit for the six months ended December 31, 2019, was RMB 20.5 million, compared to RMB 19.8 million for the same period in 2018, reflecting an increase of 3.3%[10]. - The group reported a net profit of RMB 16.5 million for the six months ended December 31, 2019, down from RMB 17.1 million in the same period of 2018[10]. - Total comprehensive income attributable to owners of the company for the six months ended December 31, 2019, was RMB 16.4 million, compared to RMB 16.9 million in the same period of 2018[11]. - The company reported a profit of RMB 16,901 thousand for the six months ended December 31, 2019, compared to RMB 20,019 thousand for the same period in 2018, showing a decrease of approximately 15.5%[19]. - Net profit for the current period was approximately RMB 165 million, down from approximately RMB 171 million in the same period of 2018[77]. Revenue Breakdown - For the six months ended December 31, 2019, total revenue was RMB 39,006,000, an increase of 3.3% compared to RMB 37,754,000 for the same period in 2018[25]. - Revenue from educational facility leasing was RMB 35,232,000 for the six months ended December 31, 2019, compared to RMB 35,887,000 for the same period in 2018, reflecting a decrease of 1.8%[25]. - Revenue from ancillary facility commercial leasing increased significantly to RMB 3,774,000 for the six months ended December 31, 2019, up from RMB 1,867,000 in the same period of 2018, representing a growth of 102.5%[25]. - Major clients contributing over 10% of revenue included University A, which generated RMB 23,599,000 and University B, which generated RMB 5,352,000 for the six months ended December 31, 2019[27]. Assets and Liabilities - The group’s total assets as of December 31, 2019, were RMB 100 million, reflecting a stable financial position[10]. - Total assets as of December 31, 2019, amounted to RMB 1,572,505 thousand, an increase from RMB 1,327,131 thousand as of June 30, 2019, representing a growth of approximately 17.5%[13]. - Non-current assets reached RMB 1,525,495 thousand, up from RMB 1,312,398 thousand, indicating a growth of about 16.2%[13]. - Total equity as of December 31, 2019, was RMB 1,237,767 thousand, an increase from RMB 1,164,924 thousand as of June 30, 2019, representing a growth of about 6.3%[15]. - Current liabilities rose to RMB 46,614 thousand from RMB 14,202 thousand, reflecting an increase of about 228%[13]. - The total assets of the group as of December 31, 2019, were approximately RMB 15.725 billion, with total liabilities of approximately RMB 3.347 billion[79]. Cash Flow and Expenses - The net cash generated from operating activities for the six months ended December 31, 2019, was RMB 29,198 thousand, compared to RMB 32,855 thousand for the same period in 2018[19]. - The company’s operating cash flow before tax adjustments was RMB 16,770 thousand, down from RMB 19,508 thousand in the previous year, indicating a decrease of approximately 14.1%[19]. - The group incurred employee costs of RMB 2.5 million for the six months ended December 31, 2019, an increase from RMB 1.3 million in the same period of 2018[10]. - Employee costs increased by 89.1% to RMB 25 million due to an increase in the number of employees[70]. - Property management fees rose by 9.2% to RMB 35 million, attributed to the expansion of rental space[72]. - Maintenance and repair costs increased from RMB 14 million to RMB 23 million, mainly due to external wall repainting and plumbing repairs[73]. - Legal and consulting fees increased by 52.7% to RMB 33 million, primarily due to costs associated with the acquisition of the Zhuyun property[74]. Financing and Investments - The company issued convertible bonds valued at HKD 200,379,982 with a conversion price of HKD 2.30 per share, which will mature on the due date[54]. - The proceeds from the bond issuance were partially used to pay for the acquisition of the Zhuyun property, costing RMB 252.37 million[55]. - The company’s bank borrowings increased to RMB 44,632 thousand from RMB 12,572 thousand, reflecting an increase of about 255%[15]. - The company had cash and cash equivalents of approximately RMB 31.1 million as of December 31, 2019, up from RMB 5.2 million as of June 30, 2019[81]. - The company did not engage in any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the period[86]. Shareholder Information - As of December 31, 2019, the chairman and executive director, Mr. Zhou, holds 135,000,000 shares, representing 75% of the company's issued shares[101]. - Mr. Zhou has a beneficial interest in Raffles, holding 462,907,764 shares, which accounts for 33.58% of the issued shares of the associated corporation[102]. - Raffles, directly controlled by Mr. Zhou, holds 135,000,000 shares in the company, equating to 75% ownership[104]. - The total number of issued shares of the company as of December 31, 2019, is 180,000,000 shares[101]. - No other directors or senior management hold 5% or more of the shares or related securities as of December 31, 2019[105]. Compliance and Governance - The audit committee, consisting of three independent non-executive directors, has reviewed the accounting principles and practices adopted by the group[108]. - The company has made full disclosures in accordance with applicable accounting standards and GEM listing rules[108]. - There were no significant interests held by directors in any important transactions, arrangements, or contracts during the period[107]. - The company is committed to maintaining transparency and compliance with the Securities and Futures Ordinance[105].

Financial Performance - The company recorded revenue of RMB 19.7 million for the three months ended September 30, 2019, representing an increase of 8.5% compared to the same period in 2018[7]. - Profit attributable to owners of the company was RMB 9.2 million, a decrease of 2% from RMB 9.4 million in the same period last year[7]. - Basic earnings per share remained stable at RMB 0.05, unchanged from the previous year[11]. - Operating profit for the period was RMB 10.5 million, compared to RMB 11.1 million in the prior year[9]. - Total comprehensive income for the period was RMB 9.2 million, down from RMB 14.4 million in the same period last year[11]. - Net profit for the three months ended September 30, 2019, was RMB 9,436,000, compared to RMB 9,339,000 for the same period in 2018, reflecting a slight increase of 1.0%[13]. - Rental income increased by 8.5% from RMB 182 million in the same period of 2018 to RMB 197 million in the current period[41]. - Operating profit for the current period was RMB 105 million, compared to RMB 111 million in the same period of 2018[42]. - Net profit for the current period was RMB 92 million, slightly down from RMB 94 million in the same period of 2018[52]. - Basic earnings per share remained at RMB 0.05 for both the current and previous periods[38]. Income and Expenses - The company reported a net interest income of RMB 165,000, up from RMB 19,000 in the previous year[9]. - The company’s other income for the period was RMB 768,000, an increase from RMB 576,000 in the prior year[9]. - The company incurred total other expenses of RMB 1,263,000 for the three months ended September 30, 2019, compared to RMB 711,000 for the same period in 2018, representing an increase of 77.6%[23]. - Employee costs increased to RMB 948,000 from RMB 536,000 in the previous year[9]. - Employee costs increased by 76.9% from RMB 5 million in the same period of 2018 to RMB 9 million in the current period due to an increase in staff numbers[45]. - Maintenance and repair costs rose from RMB 5 million in the same period of 2018 to RMB 21 million in the current period[48]. - Legal and consulting fees increased by 49.7% from RMB 5 million in the same period of 2018 to RMB 8 million in the current period[49]. - Income tax decreased by 30.3% from RMB 15 million in the same period of 2018 to RMB 10 million in the current period[51]. Foreign Exchange and Taxation - The company experienced a foreign exchange loss of RMB 1.5 million from overseas operations, compared to a gain of RMB 357,000 in the previous year[11]. - The company reported a foreign exchange gain of RMB 702,000 for the three months ended September 30, 2019, compared to RMB 576,000 in the same period of 2018, indicating a growth of 21.9%[22]. - The effective corporate income tax rate for the company's Chinese subsidiaries is 25%[26]. - Property tax and land use tax decreased by 23% from RMB 32 million in the same period of 2018 to RMB 25 million in the current period[43]. Strategic Plans and Market Expansion - The company plans to continue exploring market expansion opportunities and enhancing its product offerings in the upcoming quarters[7]. - The company continues to focus on expanding its educational facility leasing services in China and Malaysia[15]. - The company aims to maintain a stable occupancy rate and revenue from contracted colleges and universities for the remainder of the fiscal year[55]. Shareholder and Corporate Governance - The controlling shareholder, Raffles, holds a 33.58% stake in the company, with Mr. Zhou owning 75% of the issued shares[66][67]. - The company has complied with the corporate governance code as per GEM Listing Rules during the reporting period[61]. - The company is committed to enhancing shareholder value through solid corporate governance practices[60]. - No other entities or individuals, apart from the company's directors or senior management, hold 5% or more of the shares as of September 30, 2019[71]. - The audit committee, consisting of three independent non-executive directors, has reviewed the accounting principles and practices adopted by the group for the first quarter performance[74]. - The first quarter performance report for 2020 has been prepared in accordance with applicable accounting standards and GEM listing rules, with full disclosure made[74]. Construction and Development - The net proceeds from the placement of 45,000,000 shares at HKD 2.64 per share amounted to approximately HKD 75.3 million, which will be used to construct new dormitories in the campus located in Langfang[56]. - As of September 30, 2019, the construction of new dormitories on the campus is still ongoing[57]. Compliance and Trading Activity - No shares were repurchased or traded by the company or its subsidiaries during the reporting period[62]. - The company has no contingent liabilities as of September 30, 2019[29]. - The company has no direct or indirect competition with its controlling shareholder, Raffles, as per the non-competition agreement established[59].

Financial Performance - The company recorded rental income of approximately RMB 765 million for the fiscal year ending June 30, 2019, representing a 13.6% increase compared to RMB 673 million for the previous fiscal year[6]. - Operating profit decreased significantly from RMB 2,222 million in 2018 to RMB 466 million in 2019, primarily due to a substantial reduction in fair value gains from investment properties[12]. - Fair value gains from investment properties dropped from RMB 1,704 million in 2018 to RMB 53 million in 2019, indicating a much smaller increase in land and building values in Langfang, China[12]. - The company’s net profit for the year was RMB 31.5 million, a significant decrease from RMB 164.7 million in 2018, reflecting a decline of approximately 80.9%[17]. Expenses and Costs - Employee costs increased by 19.6% from RMB 25 million in 2018 to RMB 30 million in 2019, attributed to an increase in the number of employees[12]. - Business tax and additional taxes rose by 17.6% from RMB 3 million in 2018 to RMB 4 million in 2019, driven by the increase in revenue[12]. - Property tax and land use tax increased from RMB 121 million in 2018 to RMB 126 million in 2019 due to the expansion of leased facilities[12]. - Property management fees rose from RMB 64 million in 2018 to RMB 69 million in 2019, reflecting the increase in leased space[14]. - Maintenance and repair costs increased by 21.4% to RMB 15 million in 2019 from RMB 13 million in 2018, due to routine maintenance and preventive wear[14]. - Legal and consulting fees increased by 8.2% to RMB 4.4 million, up from RMB 4.1 million in 2018, primarily due to costs associated with property acquisition[15]. Assets and Liabilities - Total assets as of June 30, 2019, were approximately RMB 1,327.1 million, with total liabilities and equity attributable to owners at RMB 162.2 million and RMB 1,155.0 million, respectively[18]. - The current ratio decreased from 1.4 as of June 30, 2018, to 1.0 as of June 30, 2019, indicating a decline in liquidity[18]. - The debt-to-asset ratio was 1.3% as of June 30, 2019, down from approximately 1.5% in the previous year, calculated based on total bank borrowings of RMB 14.9 million[19]. - Cash and cash equivalents as of June 30, 2019, were approximately RMB 2.2 million, a decrease from RMB 26.6 million in 2018, indicating a significant reduction in liquidity reserves[20]. Strategic Initiatives - The company aims to continue creating shareholder returns through strategic management and operational improvements[8]. - The company acquired properties in Langfang for RMB 252.37 million, expected to enhance core business operations due to proximity to Beijing Daxing International Airport[6]. - The company expects stable occupancy rates for contracted colleges and commercial leasing revenues in the upcoming year[24]. - The company aims to utilize the remaining funds for the completion of the dormitory project by the end of 2020, enhancing its operational capacity[38]. Corporate Governance - The board of directors consists of two executive directors and four independent non-executive directors, maintaining a balance of governance[139]. - The company has complied with the GEM Listing Rules and corporate governance codes, enhancing shareholder value[134]. - The independent auditor for the group's financial statements is Shinewing, with reappointment to be proposed at the upcoming annual general meeting[132]. - The board held five meetings during the year, demonstrating active governance and oversight[145]. - The company has maintained a high level of corporate governance, with all independent non-executive directors confirmed as independent[144]. Environmental Commitment - The company is committed to environmental policies, promoting energy efficiency and waste reduction practices[124]. - The total electricity consumption for the year was 51,628 kWh, resulting in CO2 emissions of 40,528 kg, compared to 53,477 kWh and 41,979 kg in 2018, indicating a reduction in both energy use and emissions[195]. - The total water consumption for the year was 4,750 tons, a decrease from 4,860 tons in 2018, reflecting the company's commitment to resource conservation[195]. - The company promotes environmental awareness among students and staff, advocating for waste sorting and recycling initiatives[197]. Employee and Workforce - The total number of employees increased to 23 in 2019 from 17 in 2018, highlighting the company's growth in human resources[198]. - The gender distribution of employees in 2019 was 13 males and 10 females, compared to 8 males and 9 females in 2018, showing a shift in workforce composition[198]. - The age distribution of employees in 2019 included 1 under 30, 7 aged 30-40, 4 aged 40-50, and 5 over 50, compared to 2 under 30, 9 aged 30-40, 6 aged 40-50, and 6 over 50 in 2018[199]. - Employee compensation is determined based on market salaries reflecting individual experience and performance[126].

Financial Performance - The company reported revenue of approximately RMB 57.1 million for the nine months ended March 31, 2019, an increase of 13.7% compared to the same period in 2018[8]. - Profit attributable to owners of the company for the nine months ended March 31, 2019, was approximately RMB 27.2 million, a decrease of 22.4% from the same period in 2018[8]. - Basic earnings per share for the nine months ended March 31, 2019, was RMB 0.15, down from RMB 0.19 in 2018[8]. - The company recorded an operating profit of RMB 31.8 million for the nine months ended March 31, 2019, compared to RMB 39.8 million in the same period of 2018[9]. - Total comprehensive income attributable to owners for the nine months ended March 31, 2019, was RMB 27.2 million, down from RMB 35.1 million in 2018[11]. - The profit for the period ended March 31, 2019, was RMB 27,216,000, compared to RMB 35,091,000 for the same period in 2018, indicating a decrease of about 22.4%[13]. - The total comprehensive income for the period was RMB 26,971,000, down from RMB 30,656,000 in the previous year, marking a decline of approximately 12.3%[13]. - The company declared an interim dividend of RMB 7,672,000 for the period, which is a decrease from the previous year's interim dividend[13]. Revenue and Income Sources - The company’s revenue for the three months ended March 31, 2019, was RMB 19.3 million, compared to RMB 16.9 million in the same period of 2018, reflecting a growth of 8.3%[9]. - Revenue from educational facility leasing for the three months ended March 31, 2019, was RMB 18,534,000, an increase of 22.5% compared to RMB 15,207,000 for the same period in 2018[30]. - Total revenue for the nine months ended March 31, 2019, reached RMB 57,080,000, up 13.7% from RMB 50,216,000 in the previous year[30]. - The revenue from ancillary facility commercial leasing for the nine months ended March 31, 2019, was RMB 2,659,000, a decrease of 48.9% from RMB 5,211,000 in the same period of 2018[30]. - Interest income from bank deposits for the nine months ended March 31, 2019, was RMB 836,000, an increase of 58% from RMB 529,000 in the same period of 2018[35]. Expenses and Costs - The company incurred employee costs of RMB 2.16 million for the nine months ended March 31, 2019, an increase from RMB 1.88 million in the same period of 2018[9]. - The company’s tax expense for the nine months ended March 31, 2019, was RMB 4.41 million, compared to RMB 2.98 million in the same period of 2018[9]. - The company incurred income tax expenses of RMB 4,406,000 for the nine months ended March 31, 2019, compared to RMB 2,978,000 for the same period in 2018, reflecting a 48% increase[37]. - The company reported finance costs of RMB 728,000 for the nine months ended March 31, 2019, down from RMB 2.01 million in 2018[9]. - Financial expenses related to bank loans for the nine months ended March 31, 2019, were RMB 728,000, a decrease of 63.7% from RMB 2,009,000 in the same period of 2018[36]. - Maintenance and repair expenses increased by 64.3% to RMB 15 million from RMB 9 million in the same period last year, primarily due to plumbing and waterproofing repairs[55]. Assets and Equity - As of March 31, 2019, the total equity attributable to owners was RMB 1,148,778,000, reflecting an increase from RMB 1,012,804,000 as of March 31, 2018, representing a growth of approximately 13.4%[13]. - The total assets as of March 31, 2019, were RMB 1,158,636,000, showing an increase from RMB 1,021,089,000 as of March 31, 2018, which is an increase of approximately 13.5%[13]. Corporate Governance and Compliance - The financial results for the period were reviewed by the audit committee, ensuring compliance with regulatory standards[18]. - The company has complied with the GEM Listing Rules and corporate governance codes during the reporting period[63][64]. - The audit committee consists of three independent non-executive directors, chaired by Mr. Lin Binglin[75]. - The audit committee reviewed the accounting principles and practices adopted by the group for the third quarter[75]. - The unaudited condensed consolidated results for the third quarter were prepared in accordance with applicable accounting standards and GEM listing rules[75]. Market and Operational Insights - The company operates in the education facility leasing sector in China and Malaysia, indicating potential for market expansion in these regions[15]. - The company rents educational facilities primarily in China and Malaysia, including teaching buildings and dormitories, with a stable student population expected for the fiscal year[58]. - The company has confirmed that it has no competitive interests outside of its holdings and is committed to solid corporate governance to enhance shareholder value[61][62]. Shareholder Information - As of March 31, 2019, the company had 135,000,000 shares outstanding, with a 75% ownership held by the chairman and executive director[67][71]. - Raffles, the direct holding company, holds 462,907,764 shares, representing approximately 33.58% of the company[68]. - No shares were repurchased or traded by the company or its subsidiaries during the period[64]. - The company has adopted trading standards for directors in accordance with GEM Listing Rules, ensuring compliance during the reporting period[65]. - No significant interests were reported by directors or senior management in any important transactions or contracts during the period[73]. Other Notable Points - The company adopted new accounting standards, including HKFRS 9 and HKFRS 15, which may impact the financial reporting and recognition of revenue[20]. - The new revenue recognition standard (HKFRS 15) is not expected to have a significant impact on the recognition of rental income from investment properties[28]. - The company has not recognized any additional impairment losses on trade receivables as a result of adopting the simplified expected credit loss method under HKFRS 9[26]. - The company completed a property acquisition approved by shareholders on December 20, 2018, with no significant acquisitions or disposals of subsidiaries or associates during the period[60]. - The company received government grants totaling RMB 400,000 for the nine months ended March 31, 2019, compared to none in the same period of 2018[9]. - The company received government subsidies of RMB 4 million for its performance in the Langfang Economic and Technological Development Zone[56].

Financial Performance - The company recorded revenue of approximately RMB 37.8 million for the six months ended December 31, 2018, representing a growth of 13.4% compared to the same period in 2017[9]. - Profit attributable to owners of the company for the six months ended December 31, 2018, was approximately RMB 16.9 million, an increase of 14.9% year-on-year[9]. - Basic earnings per share for the six months ended December 31, 2018, was RMB 0.09, compared to RMB 0.08 for the same period in 2017[9]. - Operating profit for the six months ended December 31, 2018, was RMB 19.8 million, up from RMB 17.9 million in the same period of 2017[10]. - The company reported a net profit of RMB 17.1 million for the six months ended December 31, 2018, compared to RMB 14.9 million for the same period in 2017[10]. - Total revenue for the three months ended December 31, 2018, was RMB 19.6 million, compared to RMB 14.9 million for the same period in 2017[10]. - The company’s total comprehensive income for the period was RMB 24,771 thousand, compared to RMB 14,876 thousand in the previous period, representing an increase of approximately 66.4%[19]. - Revenue from educational facility leasing was RMB 35,887,000, an increase of 20.0% compared to RMB 29,798,000 for the same period in 2017[38]. - Revenue from commercial leasing of supporting facilities for the six months ended December 31, 2018, was RMB 1,867,000, a decrease of 46.5% compared to RMB 3,496,000 for the same period in 2017[38]. - Revenue from external customers for the three months ended December 31, 2018, was RMB 15,328,000, an increase of 7.5% compared to RMB 14,258,000 for the same period in 2017[39]. - For the six months ended December 31, 2018, revenue was RMB 30,592,000, representing a growth of 7.5% from RMB 28,462,000 in the same period of 2017[39]. Dividends and Shareholder Information - The board declared an interim dividend of HKD 0.05 per share, equivalent to approximately RMB 0.044 per share, consistent with the previous year[9]. - The company declared an interim dividend of HKD 0.05 per share, an increase from HKD 0.04 per share in 2017[100]. - The controlling shareholder, Raffles, holds a 75% stake in the company as of December 31, 2018[107]. - Raffles, owned by Chairman and Executive Director Mr. Zhou, has a total of 135,000,000 shares, representing 75% of the issued shares[109]. - Mr. Zhou also has a beneficial interest in Raffles, which holds 462,907,764 shares, accounting for 33.58% of Raffles[108]. Assets and Liabilities - Total assets decreased from RMB 1,335,600 thousand as of December 31, 2018, to RMB 1,299,509 thousand as of June 30, 2019, representing a decline of approximately 2.7%[15]. - Non-current assets slightly decreased from RMB 1,272,298 thousand to RMB 1,267,581 thousand, a reduction of about 0.4%[15]. - Current assets saw a significant drop from RMB 63,302 thousand to RMB 31,928 thousand, a decrease of approximately 49.6%[15]. - Total liabilities increased from RMB 175,968 thousand to RMB 176,863 thousand, indicating a marginal rise of about 0.5%[17]. - Net assets decreased from RMB 1,159,632 thousand to RMB 1,149,646 thousand, reflecting a decline of approximately 0.9%[17]. - Cash and cash equivalents increased from RMB 26,562 thousand to RMB 39,460 thousand, an increase of about 48.5%[21]. - The total trade and other receivables as of December 31, 2018, amounted to RMB 23,842,000, significantly higher than RMB 5,366,000 as of June 30, 2018, indicating a substantial increase of 344.5%[63]. - Trade payables as of December 31, 2018, were RMB 3,136,000, slightly up from RMB 3,001,000 as of June 30, 2018, indicating a modest increase of 4.5%[68]. - The net amount of other receivables increased to RMB 7,575,000 as of December 31, 2018, from RMB 5,161,000 as of June 30, 2018, representing a growth of 46.7%[63]. - The total value of investment properties as of December 31, 2018, was RMB 1,158,001,000, reflecting a slight increase from RMB 1,155,987,000 at the beginning of the period[58]. Cash Flow and Expenses - Operating cash flow before tax profit increased from RMB 20,019 thousand to RMB 19,508 thousand, a slight increase of about 2.5%[21]. - The company reported a net cash inflow from operating activities of RMB 32,855 thousand, compared to RMB 32,323 thousand in the previous period, an increase of approximately 1.6%[21]. - The company paid dividends amounting to RMB 17,869 thousand during the period[21]. - Employee costs rose by 7.7% from RMB 1.2 million in 2017 to RMB 1.3 million in the current period due to increased social benefits and annual salary reviews[79]. - The income tax expense for the six months ended December 31, 2018, was RMB 2,921,000, up from RMB 1,735,000 for the same period in 2017, reflecting a 68.5% increase[45]. - The company incurred employee costs of RMB 1.3 million for the six months ended December 31, 2018, compared to RMB 1.2 million in the same period of 2017[10]. - The company reported a depreciation expense of RMB 163,000 for property and equipment during the six months ended December 31, 2018[58]. Governance and Compliance - The unaudited interim financial statements have been reviewed by the audit committee, and the independent auditor has issued a report without any reservations[25]. - The independent auditor's report did not highlight any matters that require attention under the Companies Ordinance[25]. - The audit committee, consisting of three independent non-executive directors, reviewed the accounting principles and practices adopted by the group and deemed the interim results to be prepared in accordance with applicable accounting standards[114]. - The company has complied with the corporate governance code as per GEM Listing Rules Appendix 15[103]. - The company has adopted trading standards for directors as per GEM Listing Rules[106]. - The stock option plan was adopted conditionally, allowing full-time employees and directors to be granted options to subscribe for shares, but no options were granted during the reporting period[111]. - There were no significant interests held by directors in any important transactions, arrangements, or contracts related to the group's business during the period[112]. Future Plans and Investments - The company has committed to purchasing educational land in Langfang, Hebei Province, for a total consideration of RMB 252,370,000[73]. - The company approved a major related party transaction involving the purchase of educational land in Langfang, Hebei, for RMB 252,370,000[51]. - A new lease agreement was established for a three-year term starting January 1, 2019, with Raffles College, following the expiration of the previous lease[52]. - The company has no significant investments or capital commitments as of December 31, 2018, and no future plans for major investments or capital asset purchases[91]. - The company raised approximately HKD 75.3 million from the placement of 45,000,000 shares at HKD 2.64 per share[98]. - The funds will be used to construct new dormitories at the campus located in Langfang Economic and Technological Development Zone, Hebei Province, China[98]. - As of December 31, 2018, approximately HKD 10.1 million has been spent on the construction of the new dormitories[98].