Financial Performance - The group's revenue for the six months ended June 30, 2022, was approximately HKD 95,864,000, a decrease of 6.04% compared to HKD 102,031,000 in the previous year[9]. - EBITDA for the same period was HKD 41,239,000, reflecting a decline of 13.10% from HKD 47,453,000 in the prior year[9]. - Net profit for the period decreased by 22.81% to approximately HKD 19,090,000, down from HKD 24,730,000 in the previous year[9]. - Revenue from elderly care services dropped from approximately HKD 76,507,000 to about HKD 72,381,000, a decrease of approximately 5.39%[21]. - Revenue from personal client rentals decreased from approximately HKD 54,275,000 to about HKD 50,171,000, a decline of approximately 7.56%[23]. - Profit before tax decreased to HKD 23,102,000, down 22.5% from HKD 29,830,000 in the same period last year[91]. - Net profit for the period was HKD 19,090,000, a decline of 22.9% compared to HKD 24,730,000 in 2021[91]. - Basic and diluted earnings per share were HKD 4.36, down from HKD 5.53 in the previous year[91]. Cash and Assets - Cash and bank balances increased by 20.78% to HKD 80,109,000, compared to HKD 66,329,000 as of December 31, 2021[9]. - Current assets as of June 30, 2022, were approximately HKD 101,863,000, compared to HKD 85,093,000 as of December 31, 2021[32]. - Total cash and bank balances were approximately HKD 80,109,000 as of June 30, 2022, up from HKD 66,329,000 as of December 31, 2021[33]. - The total equity of the group was approximately HKD 193,632,000 as of June 30, 2022, compared to HKD 179,141,000 as of December 31, 2021[37]. - Total non-current assets decreased to HKD 179,395,000 from HKD 193,667,000 at the end of the previous year[93]. - Trade receivables surged by 208.48% to HKD 509,000 from HKD 165,000 in the previous year[9]. Operational Insights - The company operates seven elderly care homes in Hong Kong, including four "Shui On" homes and one "Guardian Home"[12]. - The average occupancy rate for improved placement plan elderly homes was 85.05%, down from 94.56% in the previous year[27]. - Employee costs increased from approximately HKD 40,785,000 to about HKD 47,064,000, an increase of approximately 15.40%[29]. - The group recorded a profit of approximately HKD 19,090,000, down from about HKD 24,730,000 in the previous year[31]. - The company plans to enhance staff training and expand its network of elderly care homes strategically located in Hong Kong[14]. Governance and Compliance - The company has complied with the GEM Listing Rules and corporate governance codes during the reporting period[55]. - The company has not engaged in any competitive business activities that could conflict with its operations during the reporting period[57]. - The company has established an audit committee to oversee financial reporting and risk management, consisting of three independent non-executive directors[84]. - The company is subject to a concert party agreement, which allows 易先生 and associated parties to collectively control approximately 64.75% of the issued share capital[78]. Shareholder Information - As of June 30, 2022, Mr. Yi holds 258,996,000 shares, accounting for approximately 64.75% of the total shares outstanding, which is based on 400,000,000 shares[63]. - Mr. Lei holds 36,032,000 shares, representing approximately 9.01% of the total shares outstanding as of June 30, 2022[67]. - The company is approximately 62.18% owned by Ruihua Limited, which is 100% owned by Ruizhuan Limited, and Ruizhuan is 59.88% owned by Hengzhi Development[71]. - The report indicates that there are no other interests or short positions held by directors or key executives in the company or its associated corporations as of June 30, 2022[72]. Future Outlook - The demand for elderly care services is expected to continue rising due to Hong Kong's aging population, with projections indicating a near doubling of the elderly population by 2040[14]. - The management team is focused on optimizing resources and implementing cost control measures to mitigate the impact of increased operational costs due to the COVID-19 pandemic[13].

恒智控股有限 公 司 Stock Code: 8405 (Incorporated in the Cayman Islands with limited liability) 2022 First Quarterly Report 恒智控股有限 公 司 : 8405 * 2022 第一季度報告 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所上 市的公司帶有較高投資風險。有意投資的人士應了解投資於該等公司的潛在風險，並應 經過審慎周詳的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，同時無法保證在GEM買賣的證券會有高流通量的市 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。 本報告的資料乃遵照聯交所GEM證券上巿規則（「GEM上巿規則」）而刊載，旨在提供有 關恒智控股有限公司（「本公司」）的資料，本公 ...

Financial Performance - Total revenue for the year ended December 31, 2021, was HKD 203.849 million, a decrease of approximately 0.58% from HKD 205.038 million in 2020[8]. - EBITDA for the same period was HKD 97.872 million, reflecting a decline of about 2.84% compared to HKD 100.733 million in the previous year[8]. - Net profit for the year was HKD 52.191 million, down 1.31% from HKD 52.883 million in 2020[8]. - Cash and cash equivalents decreased by 22.80% to HKD 66.329 million from HKD 85.914 million in 2020[8]. - Trade receivables fell by 13.61% to HKD 165,000 from HKD 191,000 in the previous year[8]. - The net asset value decreased by 8.71% to HKD 179.141 million from HKD 196.230 million in 2020[8]. - The company's revenue for the reporting year was approximately HKD 203,849,000, a slight decrease of 0.58% from the previous year's revenue of approximately HKD 205,038,000[25]. - The net profit for the year was approximately HKD 52,191,000, down about 1.31% from approximately HKD 52,883,000 in the previous year[40]. - Revenue from elder care services provided to individual clients decreased by approximately 3.72%, from HKD 111,646,000 to HKD 107,488,000[32]. - Revenue from day care services under the Improvement Purchase Scheme increased by approximately 68.52%, from HKD 2,824,000 to HKD 4,759,000[31]. - The average occupancy rate for Improvement Purchase Scheme elder care homes was 92.26%, down from 93.54% in the previous year[37]. - Employee costs increased by approximately 10.79%, rising from HKD 75,338,000 to HKD 83,464,000 due to hiring more staff for health and personal care services[38]. - Property rental and related expenses rose by approximately 7.27%, from HKD 17,284,000 to HKD 18,540,000[39]. - As of December 31, 2021, current assets were approximately HKD 85,093,000, down from HKD 102,311,000 in 2020[42]. - Current liabilities as of December 31, 2021, were approximately HKD 53,244,000, compared to HKD 51,319,000 in 2020[42]. - Total cash and bank balances were approximately HKD 66,329,000 as of December 31, 2021, down from HKD 85,914,000 in 2020[42]. - The capital-to-debt ratio increased to 15% as of December 31, 2021, from 10% in 2020 due to the adoption of IFRS 16[43]. - Total equity was approximately HKD 179,141,000 as of December 31, 2021, compared to HKD 196,230,000 in 2020[44]. - No final dividend was proposed for the reporting year, compared to HKD 32,000,000 in 2020[44]. - Capital expenditures for the reporting year were approximately HKD 3,255,000, down from HKD 3,901,000 in 2020[50]. Business Strategy and Operations - The company plans to focus on expanding its elderly care services in Hong Kong through new openings or mergers and acquisitions[13]. - The company has started providing health and personal care services for quarantine elderly homes, generating additional revenue and valuable experience[12]. - The company aims to enhance its facilities and increase participation in the Social Welfare Department's improvement programs, ensuring operational stability[12]. - The company believes that the impact of the pandemic on its main business is temporary and expects to return to normal operations post-pandemic[12]. - The company plans to expand its elder care home network in Hong Kong to meet the increasing demand due to the aging population[20]. - The company aims to optimize existing resources and enhance employee training while implementing cost control measures[25]. - The revenue from sales of elder-related products and health services increased by approximately 1.13%, from HKD 51,376,000 to HKD 51,958,000[37]. Corporate Governance - The company is focused on corporate governance and has established various committees to oversee audit, remuneration, and nominations[76][84]. - The independent non-executive directors bring extensive legal and financial expertise, contributing to the company's compliance and strategic direction[81][83]. - The company emphasizes the importance of independent directors in maintaining transparency and accountability in its operations[80][83]. - The board consists of four executive directors, one non-executive director, and three independent non-executive directors, ensuring a balanced skill set and experience[93]. - The board maintained a high level of independence, with over one-third of its members being independent non-executive directors, who exercised independent judgment[93]. - The company adopted and complied with the corporate governance code as per GEM Listing Rules Appendix 15 during the reporting year[91]. - The board held at least four meetings annually, with additional meetings convened as necessary, promoting an open culture for discussion[99]. - The company has established a code of conduct for securities trading by directors, ensuring compliance with GEM Listing Rules[92]. - The board's primary role includes planning corporate strategy and policies, monitoring financial and operational performance, and reviewing the effectiveness of internal control systems[102]. - The company seeks independent professional advice when fulfilling its responsibilities, with costs borne by the company[105]. - The company provided quarterly consolidated financial statements to the board, detailing performance, condition, and outlook[107]. - Each executive director has a service contract with an initial fixed term of three years, subject to renewal with three months' written notice[111]. - The board diversity policy was adopted on March 20, 2018, emphasizing the importance of diversity for maintaining competitive advantage[115]. - The board consists of seven male members and one female member, with a commitment to increase female representation when suitable candidates are available[120]. - The company has established three board committees: Audit Committee, Nomination Committee, and Remuneration Committee, to oversee specific matters[125]. - The board's diversity includes members with experience in various fields such as management, governance, accounting, and social work[119]. - The company ensures compliance with corporate governance codes regarding insurance for directors and senior management against legal claims[112]. - The nomination policy was adopted on January 18, 2019, to evaluate candidates for board appointments based on various criteria including skills and experience[121]. - The board has implemented a continuous professional development program for directors to enhance their knowledge and skills[108]. - The company regularly reviews its nomination policy to ensure effectiveness and compliance with regulatory requirements[124]. Audit and Risk Management - The audit committee has reviewed the financial statements for the year ending December 31, 2021, ensuring they are prepared in accordance with applicable accounting standards and fairly present the group's financial position and performance[128]. - The audit committee held four meetings during the reporting year to discuss the effectiveness of accounting principles and practices adopted by the group[127]. - The audit committee is responsible for reviewing the group's risk management and internal control systems, ensuring they are adequate and effective[127]. - The audit committee confirmed the independence of the external auditor, Ernst & Young, and approved their engagement terms for the reporting year[131]. - The audit committee has the authority to investigate any matters within its scope and can obtain independent professional advice when necessary[129]. - The company has adopted a risk management and internal control system that is deemed sufficient and effective by the board, covering operational, management, legal, governance, financial, and audit aspects[139]. - The board reviews the internal control system annually, identifying areas for improvement and taking appropriate measures to manage related risks[142]. - The company has no internal audit department; however, the executive directors and management are responsible for reviewing the effectiveness of the internal control system[139]. Environmental, Social, and Governance (ESG) - The company has established a governance structure for environmental, social, and governance (ESG) matters, ensuring alignment with business strategies and effective risk management[166]. - The ESG working group is responsible for collecting and analyzing ESG data, monitoring performance, and ensuring compliance with relevant laws and regulations[167]. - The report covers the company's ESG activities, challenges, and measures taken during the fiscal year ending December 31, 2021[170]. - The company emphasizes the importance of sustainability as a core part of its business strategy, believing it is key to future success[165]. - The company has set relevant targets for significant issues such as greenhouse gas emissions, waste management, energy management, and water management to enhance its commitment to corporate social responsibility[175]. - The company has not experienced any significant violations of environmental laws and regulations during the reporting period, including those related to air pollution and waste disposal[184]. - The company aims to enhance its ESG performance by strengthening communication with stakeholders to better understand their expectations for sustainable development[175]. - The company has developed an environmental policy and waste management measures to prevent environmental pollution and conserve resources during its operations[184]. - The company will regularly review the progress of its ESG targets through the working group to ensure adequate measures and resources are in place[175]. - The company is committed to sustainable development and aims to integrate sustainability into its business operations to enhance long-term value[175]. - The company has identified key ESG issues through a systematic annual materiality assessment involving stakeholder feedback[180]. Emissions and Waste Management - The total greenhouse gas emissions increased by approximately 10.77% during the reporting period, primarily due to additional health and personal care services provided to users in quarantine elderly homes[187]. - Direct greenhouse gas emissions (Scope 1) amounted to 48.51 tons of CO2 equivalent in 2021, up from 31.05 tons in 2020[187]. - Indirect greenhouse gas emissions (Scope 2) totaled 1,750.86 tons of CO2 equivalent in 2021, compared to 1,561.99 tons in 2020[187]. - The total greenhouse gas emissions (Scope 1 and 2) reached 1,799.37 tons of CO2 equivalent in 2021, an increase from 1,593.04 tons in 2020[187]. - The total greenhouse gas emissions density was 4.63 tons of CO2 equivalent per employee in 2021, up from 4.18 tons in 2020[187]. - The company aims to reduce total greenhouse gas emissions density by 2% over the next five years, using 2021 as the baseline year[187]. - The total harmless waste generated was approximately 1,236.40 tons in 2021, a decrease of about 12.88% from 1,389.92 tons in 2020[194]. - The harmless waste density per employee decreased from approximately 3.65 tons in 2020 to about 3.18 tons in 2021[194]. - The company produced approximately 0.16 tons of hazardous waste in 2021, down from 0.21 tons in 2020, resulting in a density reduction of about 33.33%[199]. - The company has set a target to reduce total harmless waste emissions density by 2% over the next five years, using 2021 as the baseline year[193].

Financial Performance - The company's revenue for the nine months ended September 30, 2021, was approximately HKD 153,401,000, a decrease of about 0.26% from HKD 153,798,000 in the same period last year[11]. - EBITDA for the same period was HKD 73,774,000, showing a slight increase of 0.43% compared to HKD 73,456,000[11]. - The net profit for the nine months was HKD 38,966,000, representing a growth of 7.86% from HKD 36,125,000 in the previous year[11]. - For the nine months ended September 30, 2021, the company's revenue was HKD 153,401,000, a slight decrease of 0.3% compared to HKD 153,798,000 in the same period of 2020[73]. - The company reported a net profit of HKD 38,966,000 for the nine months ended September 30, 2021, representing an increase of 7.9% from HKD 36,125,000 in the same period of 2020[73]. - Basic and diluted earnings per share for the nine months ended September 30, 2021, were HKD 8.78, compared to HKD 7.89 for the same period in 2020, reflecting an increase of 11.3%[73]. - The company’s total comprehensive income for the three months ended September 30, 2021, was HKD 14,236,000, compared to HKD 16,771,000 for the same period in 2020, a decrease of 15.1%[73]. - The group’s profit before tax for the nine months ended September 30, 2021, was HKD 35,107,000, compared to HKD 31,545,000 for the same period in 2020, representing an increase of approximately 11.5%[106]. Revenue Sources - The revenue from elderly care services accounted for approximately 74.46% of total revenue, with HKD 114,223,000 generated from sales of related products and services[17]. - The revenue from personal client rentals was HKD 80,893,000, accounting for 52.73% of the total revenue from elderly care services[17]. - Revenue from elderly care services decreased from approximately HKD 115,064,000 to HKD 114,223,000, a decline of about 0.73% compared to the same period last year[20]. - Revenue from the Social Welfare Department's rental of fixed beds under the Improvement Purchase Scheme increased from approximately HKD 28,687,000 to HKD 29,241,000, an increase of about 1.93%[21]. - Revenue from day care services under the Improvement Purchase Scheme surged from approximately HKD 1,645,000 to HKD 3,566,000, an increase of about 116.76% due to nine months of revenue recognition compared to five months last year[22]. - Revenue from individual clients renting beds decreased from approximately HKD 84,069,000 to HKD 80,893,000, a decline of about 3.78%[23]. - Revenue from non-governmental organizations renting beds fell from approximately HKD 663,000 to HKD 523,000, a decline of about 21.17% due to reduced referrals during the pandemic[26]. - Revenue from the sale of elderly-related products and health services increased from approximately HKD 38,734,000 to HKD 39,178,000, an increase of about 1.15%[27]. - Revenue recognized from contracts with customers for services transferred over time was HKD 131,019,000 for the nine months ended September 30, 2021, compared to HKD 132,510,000 in the previous year[87]. Operational Insights - The company operates seven elderly care homes in Hong Kong, including four "Shui On" homes, one "Shui Hing" home, one "Shui Jun" home, and one "Guardian Home"[14]. - The company plans to continue expanding its network of elderly care homes in strategically located areas in Hong Kong to meet the growing demand for elderly care services[14]. - Average occupancy rate for Improvement Purchase Scheme elderly homes was 94.56% compared to 93.02% last year, while non-Improvement Purchase Scheme homes had an occupancy rate of 82.06% compared to 88.17% last year[28]. - The group operates a single reportable segment, which is the operation of elderly care homes, with no further segment analysis provided[82]. - The group’s non-current assets are entirely located in Hong Kong, with all revenue generated from external customers also in Hong Kong[83]. Employee and Operational Costs - Employee costs rose from approximately HKD 55,688,000 to HKD 61,950,000, an increase of about 11.24% due to hiring more staff for health and personal care services[29]. - The company incurred employee costs of HKD 61,950,000 for the nine months ended September 30, 2021, up from HKD 55,688,000 in the same period of 2020, indicating a rise of 11.4%[73]. - Employee benefits expenses, including salaries and wages, totaled HKD 59,909,000 for the nine months ended September 30, 2021, compared to HKD 55,142,000 in 2020, reflecting an increase of approximately 8.5%[97]. - Property rental and related expenses increased from approximately HKD 12,809,000 to HKD 13,934,000, an increase of about 8.78%[30]. - The cost of goods sold for the nine months ended September 30, 2021, was HKD 9,764,000, up from HKD 9,071,000 in 2020, indicating an increase of about 7.6%[97]. Shareholder Information - The company has adopted a share option scheme effective from June 21, 2017, with a total of 40,000,000 shares potentially issuable, representing 10% of the issued shares as of the report date[41]. - As of September 30, 2021, Mr. Yi holds 262,980,000 shares, accounting for 65.75% of the company's equity[43]. - Mr. Lei holds 36,032,000 shares, representing 9.01% of the company's equity[43]. - The company did not grant, exercise, or cancel any share options during the reporting period, and there are no unexercised options as of the report date[41]. - The company is indirectly owned by Mr. Yi through various entities, with a significant ownership structure involving 62.18% equity held by Ruihua Limited[50]. - The ownership structure indicates a concentrated control with Mr. Yi and Mr. Lei holding a significant portion of the shares[45]. - As of September 30, 2021, the major shareholder 瑞樺 holds 248,700,000 shares, representing 62.18% of the total equity[52]. - The combined ownership of 易先生, 萬昌, 恒智發展, and 易女士 accounts for approximately 65.75% of the issued share capital, totaling 262,980,000 shares[58]. - 盈豐國際投資有限公司 and 芮沛實業（上海） each hold 32,000,000 shares, representing 8.00% of the total equity[52]. Government and Regulatory Matters - The crisis response team has been established to monitor the situation regarding COVID-19, ensuring adequate infection control measures are in place[15]. - The company reported no adverse impact on its business operations due to the COVID-19 outbreak as of the report date[15]. - The company is in the process of relocating 瑞臻護老中心 (油塘) due to non-compliance with government lease agreements[63]. - The company has not received any warnings or enforcement actions from the government regarding the property usage issue[63]. - Government subsidies for the nine months ended September 30, 2021, were HKD 19,206,000, an increase of 45.1% from HKD 13,240,000 in the same period of 2020[93]. - The financing cost for lease liabilities was HKD 2,795,000 for the nine months ended September 30, 2021, down 16.3% from HKD 3,335,000 in the previous year[94]. Dividend Information - The company declared an interim dividend of HKD 0.08 per ordinary share for the year ending December 31, 2021[64]. - The company declared an interim dividend to be paid on December 7, 2021, with the record date set for November 24, 2021[66]. - The company declared an interim dividend of HKD 0.08 per ordinary share for the nine months ended September 30, 2021, compared to HKD 0.06 per share in 2020, representing a 33.3% increase[102]. - The total amount of dividends declared by non-wholly owned subsidiaries for the nine months ended September 30, 2021, was HKD 5,279,000, compared to HKD 5,681,000 in 2020, reflecting a decrease of approximately 7.1%[103].

Financial Performance - Revenue for the six months ended June 30, 2021, was HKD 102,031,000, representing a 0.85% increase from HKD 101,168,000 in 2020[11] - EBITDA for the same period was HKD 47,453,000, an increase of 8.91% compared to HKD 43,569,000 in 2020[11] - Net profit for the six months ended June 30, 2021, was HKD 24,730,000, reflecting a 27.78% increase from HKD 19,354,000 in 2020[11] - The company's profit before tax was HKD 29,830,000, representing a 27.5% increase from HKD 23,416,000 in the previous year[88] - The net profit for the period was HKD 24,730,000, compared to HKD 19,354,000 in the same period last year, marking a 27.7% increase[88] - Basic and diluted earnings per share increased to HKD 5.53, up from HKD 4.22 year-on-year[88] - The total equity attributable to the owners of the parent company as of June 30, 2021, was HKD 171,647,000, compared to HKD 151,504,000 as of June 30, 2020[97] - The company declared a final dividend of HKD 0.08 per share for the six months ended June 30, 2021, compared to HKD 0.06 per share in the same period of 2020, representing a 33% increase[128] Revenue Breakdown - Revenue from elderly care services rose from approximately HKD 76,023,000 to approximately HKD 76,507,000, an increase of about 0.64%[20] - Revenue from the Social Welfare Department's improved placement plan increased from approximately HKD 18,774,000 to approximately HKD 19,459,000, a growth of about 3.65%[21] - Revenue from day care services under the placement plan surged from approximately HKD 477,000 to approximately HKD 2,373,000, marking an increase of about 397.48%[22] - Revenue from personal client rentals decreased from approximately HKD 56,296,000 to approximately HKD 54,275,000, a decline of about 3.59%[24] - Revenue from non-governmental organization rentals fell from approximately HKD 476,000 to approximately HKD 400,000, a decrease of about 15.97%[25] - Other income increased significantly to HKD 12,856,000, up 91.5% from HKD 6,734,000 year-on-year[88] - Government subsidies increased significantly to HKD 11,106,000 in the first half of 2021 from HKD 4,672,000 in the same period of 2020, marking an increase of 137%[120] Assets and Liabilities - Cash and cash equivalents decreased by 10.01% to HKD 77,317,000 from HKD 85,914,000 as of December 31, 2020[11] - The net asset value decreased by 4.93% to HKD 186,560,000 from HKD 196,230,000 as of December 31, 2020[11] - Total assets as of June 30, 2021, were HKD 250,900,000, a decrease from HKD 259,692,000 at the end of 2020[91] - The total liabilities related to performance obligations not yet fulfilled amounted to HKD 417,000,000 as of June 30, 2021, compared to HKD 350,000,000 in 2020, showing an increase of 19%[117] Operational Highlights - The company operates seven elderly care homes in Hong Kong, with a focus on expanding its network to meet the growing demand due to an aging population[14] - The company has implemented special measures to enhance infection control in response to the COVID-19 pandemic, ensuring no adverse impact on operations during the reporting period[15] - The average occupancy rate for improved placement plan elderly homes was 94.56%, up from 93.27% in the previous year[28] - Employee costs increased from approximately HKD 37,177,000 to approximately HKD 40,785,000, reflecting a rise of about 9.70%[31] - The group recorded a profit of approximately HKD 24,730,000, compared to approximately HKD 19,354,000 in the previous year[33] Shareholder Information - As of June 30, 2021, Mr. Yi holds 262,980,000 shares, representing 65.75% of the total equity[57] - Mr. Lei holds 36,032,000 shares, accounting for 9.01% of the total equity[57] - The total number of shares that may be issued upon the exercise of options under the share option plan is 40,000,000, representing approximately 10% of the issued shares as of the reporting date[55] - The total issued shares of the company are 400,000,000 as of June 30, 2021[71] - The company and its affiliates collectively control approximately 65.75% of the issued share capital as of June 30, 2021[72] Compliance and Governance - The company has complied with the corporate governance code and trading rules during the reporting period[54] - The audit committee has reviewed the interim results and confirmed compliance with applicable accounting standards[83] - The financial statements were approved and authorized for issue by the board on August 6, 2021[147] Cash Flow and Expenditures - The net cash flow from operating activities for the six months ended June 30, 2021, was HKD 38,791,000, a decrease from HKD 41,002,000 in the previous year[99] - The company incurred financing cash outflows of HKD 46,436,000, which included dividend payments of HKD 34,400,000[99] - The cash flow from investing activities for the six months ended June 30, 2021, was a net outflow of HKD 952,000, compared to HKD 1,562,000 in the previous year[99] - The group purchased property, plant, and equipment for HKD 959,000 during the six months ended June 30, 2021, compared to HKD 1,562,000 for the same period in 2020, showing a decrease of about 38.5%[137] Employee and Management Information - As of June 30, 2021, the group had 372 employees, a slight decrease from 373 employees as of June 30, 2020[46] - Total remuneration paid to key management personnel for the six months ended June 30, 2021, was HKD 5,032,000, an increase from HKD 4,653,000 in the same period of 2020, representing an increase of approximately 8.2%[147]

Financial Performance - The company's revenue for the three months ended March 31, 2021, was approximately HKD 50,742,000, an increase of 2.53% from HKD 49,492,000 in the same period last year[10] - EBITDA for the same period was HKD 22,901,000, reflecting a growth of 13.36% compared to HKD 20,202,000 in the previous year[10] - The net profit for the quarter was HKD 11,694,000, representing a significant increase of 41.61% from HKD 8,258,000 year-on-year[10] - Other income for the same period was HKD 6,572,000, significantly up from HKD 2,301,000 in the previous year, representing a growth of 186.4%[69] - The company's profit before tax was HKD 14,045,000, with a tax expense of HKD 2,351,000, resulting in a net profit of HKD 11,694,000, compared to HKD 8,258,000 in the prior year, marking a year-over-year increase of 41.5%[69] - Basic and diluted earnings per share for the period were HKD 2.59, up from HKD 1.89 in the same quarter of the previous year, reflecting a growth of 37%[69] - The group reported a total comprehensive income of HKD 10,377,000 for the period, with non-controlling interests contributing HKD 1,317,000[73] - The company's pre-tax profit for the three months ended March 31, 2021, was HKD 10,377,000, compared to HKD 7,554,000 for the same period in 2020, indicating a growth of 37%[108] Revenue Sources - The revenue breakdown shows that 76.02% came from elderly care services, while 23.98% was from the sale of related products and health services[16] - Revenue from elderly care services increased from approximately HKD 37,770,000 to HKD 38,574,000, a rise of about 2.13% compared to the same period last year[19] - Revenue from the sale of elderly-related products and health services increased from approximately HKD 11,722,000 to HKD 12,168,000, a rise of about 3.81%[26] - Revenue from personal client rentals accounted for 54.29% of total revenue, showing a slight decrease from 56.92% in the previous year[16] - Revenue from the Social Welfare Department's rental of fixed beds under the Improvement Purchase Scheme rose from approximately HKD 9,360,000 to HKD 9,676,000, an increase of about 3.38%[20] - Revenue from day care services provided under the Improvement Purchase Scheme amounted to approximately HKD 1,180,000 during the reporting period[21] - Revenue from individual clients renting beds decreased from approximately HKD 28,168,000 to HKD 27,549,000, a decline of about 2.20%[22] - Revenue from beds rented by non-governmental organizations fell from approximately HKD 242,000 to HKD 169,000, a decrease of about 30.17%[23] - The group generated approximately HKD 10,856,000 in revenue from the Hong Kong government's improvement purchase program, accounting for over 10% of total revenue[87] Operational Insights - The company operates seven elderly care homes in Hong Kong, with a strong demand for elderly care services driving growth in the sector[13] - The management team plans to continue expanding its network of elderly care homes in strategic locations in Hong Kong to serve more residents[13] - Average occupancy rates for the group's elderly care homes were 93.86% for the Improvement Purchase Scheme and 83.37% for non-Improvement Purchase Scheme homes, compared to 93.18% and 88.72% respectively in the previous year[27] - Employee costs increased from approximately HKD 18,989,000 to HKD 20,612,000, an increase of about 8.55% due to hiring more staff for health and personal care services[28] - Property rental and related expenses rose from approximately HKD 4,256,000 to HKD 4,486,000, an increase of about 5.40%[29] - The company has established a crisis response team to monitor the COVID-19 situation and has implemented enhanced infection control measures[14] - There was no adverse impact on the company's business operations due to the COVID-19 outbreak during the reporting period[14] Shareholder Information - As of March 31, 2021, Mr. Yi holds 262,980,000 shares, accounting for approximately 65.75% of the total equity[44] - Mr. Lei holds 36,032,000 shares, representing 9.01% of the total equity[45] - The major shareholder, Ruihua, holds 248,700,000 shares, which is approximately 62.18% of the total equity[50] - The total number of shares that may be issued upon the exercise of all options under the share option plan is 40,000,000, representing 10% of the shares issued as of the report date[42] - The total number of issued shares as of March 31, 2021, is 400,000,000[44] - The company has a controlled interest of 89.11% in Ruihua through Rui Zhuang Investment Co.[48] - As of March 31, 2021, there are no undisclosed interests or positions held by directors or key executives in the company or its affiliates[48] Compliance and Governance - The company has established an audit committee to oversee financial reporting and risk management, consisting of three independent non-executive directors[64] - The company is committed to adhering to applicable accounting standards and has ensured sufficient disclosures in its financial reports[64] - The group has adopted new and revised International Financial Reporting Standards, which are not expected to have a significant impact on the group's financial performance[84] - The company did not engage in any share buybacks or securities transactions during the reporting period[62] - The company has no options granted, exercised, or canceled during the reporting period[42] - The company has no new strategies or product developments disclosed in the report[51] - The company did not declare any dividends for the three months ended March 31, 2021, consistent with the same period in 2020[103]

Financial Performance - Revenue for the year reached HKD 205,038,000, representing a 21.55% increase from HKD 168,680,000 in the previous year[10] - EBITDA increased to HKD 100,733,000, a growth of 56.09% compared to HKD 64,534,000 in the prior year[11] - Net profit for the year was HKD 52,883,000, marking a significant rise of 73.14% from HKD 30,544,000 in 2019[12] - Cash and cash equivalents rose to HKD 85,914,000, up 64.38% from HKD 52,267,000 year-on-year[14] - Trade receivables decreased by 58.84%, falling to HKD 191,000 from HKD 464,000[15] - Net assets increased to HKD 196,230,000, reflecting a growth of 13.41% from HKD 173,027,000[16] Revenue Breakdown - Revenue from elderly care services rose from approximately HKD 126.77 million to about HKD 153.66 million, an increase of approximately 21.21%[46] - Revenue generated from the Social Welfare Department's rental of beds under the Improvement Purchase Scheme increased from approximately HKD 34.73 million to about HKD 38.36 million, a growth of approximately 10.47%[47] - Revenue from individual clients renting beds rose from approximately HKD 91.46 million to about HKD 111.65 million, reflecting an increase of approximately 22.07%[49] - Revenue from the sale of elderly-related products and health services increased from approximately HKD 41.91 million to about HKD 51.38 million, a growth of approximately 22.59%[54] Operational Developments - The company plans to enhance its information technology capabilities to facilitate better communication for elderly residents[20] - The company aims to provide more quality accommodations for the elderly, ensuring a comfortable living environment[21] - The company plans to continue expanding its elderly care home network in strategic locations in Hong Kong to serve more elderly residents[27] - The crisis response team was established to monitor the situation of elderly homes amid the COVID-19 pandemic, with no adverse impact on business operations reported[28] - The company has implemented special measures to enhance infection control, including reducing visiting hours and ensuring adequate supplies of protective equipment for staff and residents[28] Employee and Management - Employee costs rose from approximately HKD 60.04 million to about HKD 75.34 million, an increase of approximately 25.47% due to the growth in the number of elderly homes operated[55] - The group employed 381 staff as of December 31, 2020, an increase from 340 employees in 2019, and provided competitive compensation and benefits[66] - The management team is committed to continuous training and development of healthcare professionals to improve operational efficiency[77] - The company has established a fair and competitive compensation system based on principles of fairness, competition, and legality, providing a competitive salary package that includes fixed salary and annual performance bonuses[195] Corporate Governance - The company emphasizes the importance of corporate governance and has established various committees to oversee business strategies and compliance[80] - The board consists of four executive directors, one non-executive director, and three independent non-executive directors, ensuring a balanced skill set and experience[96] - The company has adopted and complied with the corporate governance code as per GEM listing rules, enhancing governance standards[94] - The board believes that the risk management and internal control systems are adequate and effective, complying with corporate governance codes[124] Environmental, Social, and Governance (ESG) Initiatives - The company emphasizes sustainable development as a core part of its business strategy, focusing on environmental, social, and governance (ESG) matters[142] - The company has established a dedicated ESG working group to manage and report on its ESG performance, which regularly reports to the board[143] - The company conducts annual materiality assessments to understand stakeholder expectations and concerns regarding its ESG performance[154] - The company aims to enhance stakeholder engagement through constructive dialogue and strategic adjustments based on feedback[152] Environmental Impact - The total greenhouse gas emissions increased by approximately 34% due to the addition of a new elderly care home during the reporting period[162] - The total waste generated was approximately 1,389.92 tons in 2020, up from 901.21 tons in 2019, marking a significant increase[172] - Total energy consumption increased by approximately 31% during the reporting period, primarily due to the addition of a new elderly care facility, with total energy consumption reaching 3,016.56 MWh compared to 2,302.15 MWh in 2019[181] Stakeholder Communication - The company maintains extensive communication channels with stakeholders, including annual general meetings and financial reports[139] - The company has a structured approach to stakeholder communication, ensuring compliance with relevant laws and regulations[152]

p (2) Hang Chi Holdings Limited 恒 智 控 股 有 限 公 司 (於開曼群島註冊成立之有限公司) 股份代號: 8405 2020 第三季度 = = = ll W == 0 0 = in U 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所上 市的公司帶有較高投資風險。有意投資的人士應了解投資於該等公司的潛在風險，並應 經過審慎周詳的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，同時無法保證在GEM買賣的證券會有高流通量的市 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。 本報告的資料乃遵照聯交所GEM證券上巿規則（「GEM上巿規則」）而刊載，旨在提供有 關恒智控股有限公司（「本公司」）的資料，本公司各董事（「董事」）願就本報告的資料共同 及個別承擔全部責任，並在作出一切 ...

Financial Performance - Revenue for the six months ended June 30, 2020, was HKD 101,168,000, representing a 41.90% increase from HKD 71,297,000 in 2019[10] - EBITDA for the same period was HKD 43,569,000, a significant increase of 94.98% compared to HKD 22,345,000 in 2019[10] - Net profit for the six months ended June 30, 2020, was HKD 19,354,000, up 73.36% from HKD 11,164,000 in 2019[10] - The group's profit for the period was approximately HKD 19,354,000, compared to approximately HKD 11,164,000 in the previous year, attributed to increased revenue and improved cost control[32] - The company achieved a pre-tax profit of HKD 23,416,000, representing an increase of 70.7% from HKD 13,704,000 in the previous year[89] - The net profit for the period was HKD 19,354,000, up 73.2% from HKD 11,164,000 in the prior year[89] - Basic and diluted earnings per share for the parent company shareholders were HKD 4.22, compared to HKD 2.65 in the same period last year, reflecting a growth of 58.5%[89] - Total other income for the period was HKD 6,734,000, which is a 120.0% increase from HKD 3,056,000 in the previous year[89] Revenue Breakdown - The elderly care services segment generated HKD 76,023,000 in revenue, accounting for 75.15% of total revenue[17] - Revenue from sales of elderly-related products and health services was HKD 25,145,000, representing 24.85% of total revenue[17] - Revenue from elderly care services rose from approximately HKD 54,164,000 to approximately HKD 76,023,000, an increase of about 40.36%[20] - Revenue from the sale of elderly-related products and health services rose from approximately HKD 17,133,000 to approximately HKD 25,145,000, an increase of about 46.76%[25] - Revenue generated from fixed accommodation rented by NGOs increased from approximately HKD 250,000 to approximately HKD 476,000, a growth of about 90.40%[24] - Revenue from a major customer, the Hong Kong government, amounted to HKD 19,251,000, representing over 10% of the group's total revenue, compared to HKD 15,407,000 in the previous year[108] Cash Flow and Assets - Cash and cash equivalents as of June 30, 2020, were HKD 54,793,000, a 4.83% increase from HKD 52,267,000 at the end of 2019[10] - The net cash flow from operating activities for the six months ended June 30, 2020, was HKD 41,002,000, compared to HKD 19,388,000 for the same period in 2019, representing an increase of 111%[99] - The total assets minus current liabilities amounted to HKD 241,426,000, a decrease from HKD 258,503,000 as of December 31, 2019[92] - The cash and cash equivalents at the end of the reporting period were HKD 54,793,000, an increase from HKD 43,216,000 at the end of June 2019, indicating a growth of 26.7%[99] - The total current assets increased to HKD 72,828,000 as of June 30, 2020, from HKD 69,293,000 as of December 31, 2019, reflecting a growth of approximately 3.7%[92] Employee and Operational Costs - Employee costs increased from approximately HKD 28,024,000 to approximately HKD 37,177,000, a rise of about 32.66% due to the increase in the number of elderly homes operated[28] - The group recognized contract revenue of HKD 101,168,000 for the six months ended June 30, 2020, up from HKD 71,297,000 in the same period of 2019, reflecting a growth of 42.0%[111] - The group reported a depreciation expense of HKD 13,280,000 for right-of-use assets, significantly higher than HKD 4,882,000 in the previous year, reflecting increased leasing activities[124] Corporate Governance and Structure - The company has established an audit committee to oversee financial reporting and risk management, consisting of three independent non-executive directors[84] - The company has complied with the corporate governance code as per GEM listing rules during the reporting period[51] - The company has proposed to transfer its listing from GEM to the Main Board, which is expected to enhance its corporate image and increase liquidity in share trading[48] - The ownership structure indicates that Mr. Yi is the sole director of 瑞樺, 瑞專, 恒智發展, and 万昌, consolidating control over the company[66] - The company’s financial disclosures indicate a significant concentration of ownership among a few key individuals and entities[74] Dividends and Shareholder Returns - The company declared an interim dividend of HKD 24,000,000 for the period, compared to HKD 400,000 in the previous year, showing a significant increase in shareholder returns[99] - The company declared a final dividend of HKD 0.06 per ordinary share, amounting to HKD 24,000,000, compared to no dividend declared for the same period in 2019[135] Investments and Capital Expenditure - Capital expenditure for the period was approximately HKD 1,562,000, up from approximately HKD 645,000 in the previous year, used for purchasing equipment for elderly homes[46] - The group purchased property, plant, and equipment at a cost of HKD 1,562,000 for the six months ended June 30, 2020, compared to HKD 645,000 for the same period in 2019, reflecting a significant increase of 142.5%[137] Risk Management - The company faced minimal credit risk as its customers generally paid invoices promptly, resulting in negligible credit risk exposure[138] - The group did not have any significant contingent liabilities as of June 30, 2020, and December 31, 2019[143]

Financial Performance - Revenue for the three months ended March 31, 2020, increased to HKD 49,492,000, representing a 40.84% increase from HKD 35,141,000 in the same period last year[11] - EBITDA for the same period rose to HKD 20,202,000, a significant increase of 92.07% compared to HKD 10,518,000 in the previous year[11] - Profit for the period was HKD 8,258,000, reflecting a 40.06% increase from HKD 5,896,000 year-on-year[11] - Other income increased to HKD 2,241,000, up from HKD 1,382,000, marking a 62.3% growth year-over-year[69] - The company reported a profit before tax of HKD 9,983,000, which is a 42.1% increase compared to HKD 7,023,000 in the previous year[69] - Net profit for the period was HKD 8,258,000, up 40.0% from HKD 5,896,000 in the same quarter of 2019[69] - The total comprehensive income attributable to equity holders of the parent was HKD 7,554,000, compared to HKD 5,507,000 in the same period last year, representing a 37.1% increase[69] - The group’s performance indicates a strong recovery trajectory, with significant increases in both revenue and government support amidst challenging market conditions[96] Revenue Sources - Revenue from elderly care services increased from HKD 27,185,000 to HKD 37,770,000, marking a growth of approximately 38.94%[20] - Revenue from rental of beds under the Social Welfare Department's improvement scheme rose from HKD 7,704,000 to HKD 9,360,000, an increase of about 21.50%[21] - Revenue from personal client rental services increased from approximately HKD 19,354,000 to HKD 28,168,000, representing a growth of about 45.54%[22] - Revenue from rental services for non-governmental organizations rose from approximately HKD 127,000 to HKD 242,000, marking an increase of approximately 90.55%[23] - Revenue from sales of elder-related products and healthcare services grew from approximately HKD 7,956,000 to HKD 11,722,000, reflecting an increase of about 47.34%[25] - The revenue breakdown shows that personal client rentals accounted for 56.92% of total revenue, increasing from 55.08% in the previous year[17] - Sales of elderly-related products and provision of health services contributed significantly to the overall revenue, with health services accounting for 23.68% of total revenue[17] Operational Insights - The company operates seven elderly care homes in Hong Kong, including four "Shui On" homes, one "Shui Hing" home, one "Shui Jun" home, and one "Guardian Home"[14] - The management team believes that the demand for elderly care services in Hong Kong is a major driver for growth in the industry[14] - The company plans to continue expanding its network of elderly care homes strategically located in Hong Kong to serve more elderly residents[14] - The average occupancy rate for improved purchase plan elderly homes was 93.18%, while for non-improved purchase plan homes it was 88.72%[26] Cost and Expenses - Employee costs increased from approximately HKD 14,428,000 to HKD 18,989,000, an increase of about 31.61% due to the rise in the number of operated elderly homes[27] - Property rental and related expenses decreased from approximately HKD 5,515,000 to HKD 4,256,000, a decline of about 22.83%[29] - Depreciation and amortization expenses increased significantly to HKD 9,090,000 from HKD 3,365,000, indicating a 170.5% rise[69] - The cost of goods sold for the period was HKD 2,996,000, up from HKD 1,998,000 in 2019, indicating a rise of 50%[99] - The interest expense on lease liabilities surged to HKD 1,129,000 in 2020 from HKD 130,000 in 2019, marking an increase of 769%[96] - The total tax expense for the period was HKD 1,725,000, compared to HKD 1,127,000 in the same period last year, an increase of 53%[102] Shareholder Information - As of March 31, 2020, the company had 400,000,000 shares issued, with major shareholders holding significant stakes: 易德智先生 held 262,980,000 shares (65.75%) and 雷志達先生 held 36,032,000 shares (9.01%) [42] - 易德智先生 indirectly owns 100% of the issued share capital of 恒智 through various controlled entities, including 瑞樺 and 瑞專, which he also controls [44] - 瑞樺 holds 248,700,000 shares, representing 62.18% of the company, while 瑞專 also holds the same number of shares, indicating a strong control over the company [51] - 雷志達先生's holdings include 15,300,000 shares owned by 基兆投資有限公司, which he fully owns, and 20,720,000 shares directly held by him [45] - The company has a significant concentration of ownership, with the top two shareholders (易德智先生 and 雷志達先生) controlling approximately 74.76% of the total shares [51] - The company has a total of 400,000,000 shares issued as of March 31, 2020, with major shareholders each holding 32,000,000 shares, representing approximately 8.00% ownership[53] - As of March 31, 2020, Mr. Yi holds an interest in 262,980,000 shares, indicating that he, along with other parties, collectively controls approximately 65.75% of the company's issued share capital[56] Governance and Compliance - The company’s governance structure shows that major shareholders are also directors, which may influence strategic decisions [49] - The financial data presented is unaudited, indicating that the figures may be subject to change upon final audit [50] - The audit committee has reviewed the unaudited financial results for the reporting period and confirmed that the financial statements comply with applicable accounting standards[64] - The group did not declare any dividends for the three months ended March 31, 2020, consistent with the previous year[103] - The group’s other income, including miscellaneous income and rental income, totaled HKD 970,000 in 2020, up from HKD 456,000 in 2019, reflecting a growth of 113%[96] Future Outlook - The report does not provide specific future guidance or performance outlook for the upcoming quarters [50] - The company has not disclosed any new product developments or market expansion strategies in the current report [50] - There are no indications of mergers or acquisitions mentioned in the latest financial disclosures [50] - The company did not engage in any arrangements for directors or executives to acquire shares or bonds during the reporting period[59] - There were no purchases, sales, or redemptions of the company's listed securities by the company or its subsidiaries during the reporting period[60] - The average number of ordinary shares outstanding remained at 400,000,000 for both 2020 and 2019, with no potential dilutive ordinary shares issued[108]