EF001 免責聲明 EF001 | 發行人所發行上市權證/可轉換債券的相關信息 | | | --- | --- | | 發行人所發行上市權證/可轉換債券 | 不適用 | | 其他信息 | | | 其他信息 | 不適用 | | 發行人董事 | | | 董事會成員包括五名執行董事，即彭一邦博士工程師太平紳士、 彭一庭先生、何柱明先生、吳福華先生及徐建華先生，及四名獨 | | | 立非執行董事，即黃比先生、吳紀法先生、余致力先生及馮蘭施女士 | | 第 2 頁 共 2 頁 v 1.1.1 | 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 | | | --- | --- | | 公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | | | 股票發行人現金股息公告 | | | 發行人名稱 | 雅居投資控股有限公司 | | 股份代號 | 08426 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 截至2025年6月30日止六個月之中期股息 | | 公告日期 ...

Announcement Information and Declarations [Disclaimer](index=1&type=section&id=Disclaimer) HKEX disclaims responsibility for this announcement's content, accuracy, or completeness, and any resulting losses - Hong Kong Exchanges takes no responsibility for the content of this announcement, nor does it guarantee its accuracy or completeness[1](index=1&type=chunk) [Company Information and GEM Characteristics](index=1&type=section&id=Company%20Information%20and%20GEM%20Characteristics) This interim results announcement is for Modern Living Investments Holdings Limited (08426), incorporated in Cayman Islands, noting GEM's high investment risks - The company is Modern Living Investments Holdings Limited, incorporated in the Cayman Islands, with stock code **08426**[2](index=2&type=chunk)[3](index=3&type=chunk) - The GEM market is positioned for small and medium-sized companies, with higher investment risks, greater market volatility, and no guarantee of liquidity[2](index=2&type=chunk) - The company's directors assume full responsibility for the accuracy, completeness, and non-misleading nature of the announcement information[3](index=3&type=chunk) Performance Highlights For the six months ended June 30, 2025, revenue grew **4.61%** to **HK$196.34 million**, but profit declined **4.77%** to **HK$8.71 million**, with lower EPS and interim dividends Key Financial Data Summary for H1 2025 | Metric | 2025 H1 (HK$ Thousand) | 2024 H1 (HK$ Thousand) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Unaudited Revenue | 196,340 | 187,680 | +4.61% | | Unaudited Profit | 8,710 | 9,150 | -4.77% | | Basic Earnings Per Share (HK Cents) | 1.09 | 1.14 | -4.39% | | Interim Dividend (HK Cents Per Share) | 0.56 | 1.40 | -60.00% | Condensed Consolidated Financial Statements [Condensed Consolidated Statement of Profit or Loss](index=3&type=section&id=Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss) Revenue grew to **HK$196.34 million**, but profit slightly decreased to **HK$8.71 million** due to higher employee benefit expenses Condensed Consolidated Statement of Profit or Loss (For the six months ended June 30) | Metric | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | | :--- | :--- | :--- | | Revenue | 196,338 | 187,681 | | Other income | 51 | 123 | | Other gains/(losses) – net | 573 | (133) | | Employee benefit expenses | (179,224) | (167,145) | | Cleaning material costs | (1,465) | (1,383) | | Utilities expenses | (374) | (456) | | Depreciation | (678) | (745) | | Other operating expenses | (7,175) | (9,422) | | Operating profit | 8,046 | 8,520 | | Net finance income | 1,982 | 1,812 | | Profit before income tax | 10,028 | 10,332 | | Income tax expense | (1,318) | (1,186) | | Profit for the period | 8,710 | 9,146 | | Basic and diluted earnings per share (HK cents) | 1.09 | 1.14 | [Condensed Consolidated Statement of Comprehensive Income](index=4&type=section&id=Condensed%20Consolidated%20Statement%20of%20Comprehensive%20Income) Profit for the period was **HK$8.71 million**, with no other comprehensive income from remeasurement of employee benefit obligations in 2025 Condensed Consolidated Statement of Comprehensive Income (For the six months ended June 30) | Metric | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | | :--- | :--- | :--- | | Profit for the period | 8,710 | 9,146 | | Other comprehensive income: | | | | Items that will not be reclassified to profit or loss | | | | Remeasurement of employee benefit obligations | – | 526 | | Other comprehensive income for the period, net of tax | 8,710 | 526 | | Total comprehensive income for the period | 8,710 | 9,672 | [Condensed Consolidated Statement of Financial Position](index=5&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) Total assets decreased to **HK$201.63 million**, with reductions in current assets, total liabilities, and total equity Condensed Consolidated Statement of Financial Position (As of June 30, 2025) | Metric | June 30, 2025 (HK$ Thousand) | December 31, 2024 (HK$ Thousand) | | :--- | :--- | :--- | | **ASSETS** | | | | Non-current assets | 7,124 | 7,953 | | Current assets | 194,504 | 212,156 | | **TOTAL ASSETS** | **201,628** | **220,109** | | **EQUITY** | | | | Total equity | 151,509 | 153,999 | | **LIABILITIES** | | | | Non-current liabilities | 161 | 1,332 | | Current liabilities | 49,958 | 64,778 | | **TOTAL LIABILITIES** | **50,119** | **66,110** | | **TOTAL EQUITY AND LIABILITIES** | **201,628** | **220,109** | [Condensed Consolidated Statement of Changes in Equity](index=7&type=section&id=Condensed%20Consolidated%20Statement%20of%20Changes%20in%20Equity) Total equity decreased from **HK$153.999 million** to **HK$151.509 million**, mainly due to the **HK$11.2 million** final dividend payment Condensed Consolidated Statement of Changes in Equity (For the six months ended June 30) | Metric | Share Capital (HK$ Thousand) | Share Premium (HK$ Thousand) | Contribution Reserve (HK$ Thousand) | Retained Earnings (HK$ Thousand) | Total Equity (HK$ Thousand) | | :--- | :--- | :--- | :--- | :--- | :--- | | Balance at January 1, 2025 (audited) | 8,000 | 42,776 | 22,270 | 80,953 | 153,999 | | Profit for the period | – | – | – | 8,710 | 8,710 | | Total comprehensive income for the period | – | – | – | 8,710 | 8,710 | | Final dividend paid for 2024 | – | – | – | (11,200) | (11,200) | | Balance at June 30, 2025 (unaudited) | 8,000 | 42,776 | 22,270 | 78,463 | 151,509 | [Condensed Consolidated Statement of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statement%20of%20Cash%20Flows) Net cash outflow from operations was **HK$23.72 million**, offset by **HK$28.32 million** from investing, leading to a **HK$7.08 million** net cash decrease Condensed Consolidated Statement of Cash Flows (For the six months ended June 30) | Metric | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | | :--- | :--- | :--- | | Net cash flow from operating activities | (23,722) | 24,197 | | Net cash flow from investing activities | 28,315 | (19,602) | | Net cash flow from financing activities | (11,668) | (5,501) | | Net decrease in cash and cash equivalents | (7,075) | (906) | | Cash and cash equivalents at beginning of period | 23,840 | 11,556 | | Cash and cash equivalents at end of period | 16,765 | 10,650 | Notes to the Condensed Consolidated Financial Information [General Information](index=9&type=section&id=General%20Information) Modern Living Investments Holdings Limited, incorporated in Cayman Islands, provides property management in Hong Kong, with GT Winners Limited as ultimate holding company - The company was incorporated in the Cayman Islands on **June 26, 2017**, and listed on GEM on **November 10, 2017**[14](index=14&type=chunk)[16](index=16&type=chunk) - The Group primarily provides property management services in Hong Kong, focusing on public housing and R&D[15](index=15&type=chunk) - The company's ultimate holding company is **GT Winners Limited**[15](index=15&type=chunk) [Basis of Preparation](index=9&type=section&id=Basis%20of%20Preparation) Unaudited financial information adheres to HKFRSs, Companies Ordinance, and GEM Listing Rules, with no significant impact from new standards - The financial information is prepared in accordance with Hong Kong Financial Reporting Standards, the Hong Kong Companies Ordinance, and the GEM Listing Rules[17](index=17&type=chunk) - Key accounting policies are consistent with the 2024 annual financial statements, and newly adopted revised standards have no significant impact[18](index=18&type=chunk) [Segment Information](index=10&type=section&id=Segment%20Information) The Group operates a single segment of property management services in Hong Kong, hence no segment analysis is presented - The Group operates solely in the Hong Kong property management services segment, with no business segment analysis presented[19](index=19&type=chunk) [Estimates](index=10&type=section&id=Estimates) Management's significant judgments, estimates, and assumptions for interim financial information are consistent with the prior year - Management's judgments and estimates in preparing the financial information are consistent with the prior year[20](index=20&type=chunk) [Financial Risk Management](index=10&type=section&id=Financial%20Risk%20Management) The Group faces credit, interest rate, foreign currency, and liquidity risks without hedging, with stable financial liability cash flows and fair values - The Group is exposed to credit, interest rate, foreign exchange, and liquidity risks, but does not hedge these exposures[21](index=21&type=chunk) [Financial Risk Factors](index=10&type=section&id=Financial%20Risk%20Factors) The Group's business is exposed to credit, interest rate, foreign exchange, and liquidity risks, without using financial derivatives for hedging - The Group's risk management program aims to minimize the adverse effects of financial market unpredictability on financial performance[21](index=21&type=chunk) [Liquidity Risk](index=10&type=section&id=Liquidity%20Risk) Contractual undiscounted cash outflows for financial liabilities show no significant change compared to year-end - Contractual undiscounted cash outflows for financial liabilities show no significant change compared to year-end[22](index=22&type=chunk) [Fair Value of Financial Assets and Liabilities](index=11&type=section&id=Fair%20Value%20of%20Financial%20Assets%20and%20Liabilities) Fair values of most financial assets and liabilities, including cash, deposits, and receivables/payables, approximate their carrying amounts - The fair values of various financial assets and liabilities, including cash, deposits, receivables, and payables, approximate their carrying amounts[23](index=23&type=chunk)[27](index=27&type=chunk) [Revenue (Notes)](index=11&type=section&id=Revenue%20(Notes)) All Group revenue for the period originated from property management services in Hong Kong, with no segment or geographical analysis presented - All of the Group's revenue is derived from property management services in Hong Kong[25](index=25&type=chunk) [Other Income](index=11&type=section&id=Other%20Income) Other income decreased to **HK$51 thousand**, mainly due to reduced Job Creation Scheme subsidies Other Income (For the six months ended June 30) | Item | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | | :--- | :--- | :--- | | Job Creation Scheme subsidy | – | 114 | | Development Bureau subsidy | 19 | – | | Miscellaneous income | 32 | 9 | | **Total** | **51** | **123** | [Other Gains/(Losses) – Net](index=12&type=section&id=Other%20Gains%2F%28Losses%29%20%E2%80%93%20Net) Net other gains were **HK$573 thousand**, a significant improvement from a **HK$133 thousand** loss, driven by foreign exchange gains Other Gains/(Losses) – Net (For the six months ended June 30) | Item | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | | :--- | :--- | :--- | | Investment gain on insurance contract | 32 | 47 | | Net foreign exchange gains/(losses) | 541 | (180) | | **Total** | **573** | **(133)** | [Employee Benefit Expenses (Notes)](index=12&type=section&id=Employee%20Benefit%20Expenses%20(Notes)) Total employee benefit expenses increased to **HK$179.22 million**, primarily due to growth in wages, salaries, and other allowances Employee Benefit Expenses (For the six months ended June 30) | Item | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | | :--- | :--- | :--- | | Wages, salaries and other allowances | 169,460 | 158,304 | | Pension costs – defined contribution plans | 5,658 | 6,273 | | Accrued unused annual leave | 448 | 291 | | Long service payments and gratuities | 2,735 | 3,200 | | **Total** | **179,224** | **167,145** | [Net Finance Income](index=12&type=section&id=Net%20Finance%20Income) Net finance income increased to **HK$1.98 million**, mainly driven by higher bank interest income Net Finance Income (For the six months ended June 30) | Item | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | | :--- | :--- | :--- | | Bank interest income | 2,014 | 1,868 | | Interest on lease payments | (32) | (56) | | **Total** | **1,982** | **1,812** | [Expenses by Nature](index=13&type=section&id=Expenses%20by%20Nature) Total expenses rose to **HK$188.92 million**, with employee benefits as the largest component, while other operating expenses decreased Expenses by Nature (For the six months ended June 30) | Item | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | | :--- | :--- | :--- | | Cleaning material costs | 1,465 | 1,383 | | Utilities expenses | 374 | 456 | | Depreciation | 678 | 745 | | Employee benefit expenses | 179,224 | 167,145 | | Other operating expenses | 7,175 | 9,422 | | **Total** | **188,916** | **179,151** | - The decrease in other operating expenses was primarily due to lower professional fees and estate maintenance expenses[31](index=31&type=chunk) [Income Tax Expense](index=14&type=section&id=Income%20Tax%20Expense) Income tax expense increased to **HK$1.32 million**, primarily due to higher Hong Kong Profits Tax Income Tax Expense (For the six months ended June 30) | Item | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | | :--- | :--- | :--- | | Current income tax: Hong Kong Profits Tax | 1,318 | 1,222 | | Deferred income tax | – | (36) | | **Total** | **1,318** | **1,186** | - Hong Kong Profits Tax is provided at a rate of **16.5%**, in line with the new two-tiered Profits Tax regime[32](index=32&type=chunk) [Dividends](index=14&type=section&id=Dividends) The Board declared an interim dividend of **HK$0.56 cents** per share, a significant decrease from **HK$1.40 cents** in 2024 - A final dividend of **HK$11.2 million** (HK$1.40 cents per share) for 2024 has been paid[33](index=33&type=chunk) - An interim dividend of **HK$0.56 cents** per share for H1 2025 was declared, representing a **60%** year-on-year decrease[33](index=33&type=chunk) [Earnings Per Share](index=14&type=section&id=Earnings%20Per%20Share) Basic earnings per share decreased to **HK$1.09 cents**, with no diluted EPS presented due to absence of dilutive shares Earnings Per Share Calculation (For the six months ended June 30) | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Profit attributable to owners of the Company (HK$ Thousand) | 8,710 | 9,146 | | Number of ordinary shares for basic earnings per share (Thousand shares) | 800,000 | 800,000 | | Basic earnings per share (HK cents) | 1.09 | 1.14 | - Diluted earnings per share are not presented as there are no potential dilutive ordinary shares[34](index=34&type=chunk) [Property, Plant and Equipment](index=14&type=section&id=Property%2C%20Plant%20and%20Equipment) Acquisitions of property, plant and equipment increased to **HK$230 thousand** for the period - Acquisitions of property, plant and equipment amounted to **HK$230 thousand** for the period, compared to **HK$190 thousand** in the prior year period[35](index=35&type=chunk) [Leases](index=15&type=section&id=Leases) Right-of-use assets and lease liabilities both decreased as of June 30, 2025 Lease Assets and Liabilities (As of June 30, 2025) | Metric | June 30, 2025 (HK$ Thousand) | December 31, 2024 (HK$ Thousand) | | :--- | :--- | :--- | | Right-of-use assets | 866 | 1,296 | | Lease liabilities (current) | 893 | 889 | | Lease liabilities (non-current) | 26 | 498 | | **Total lease liabilities** | **919** | **1,387** | [Investment in an Insurance Contract](index=15&type=section&id=Investment%20in%20an%20Insurance%20Contract) Investment in a management life insurance policy, with the Group as beneficiary, has value changes recognized in 'Other gains/(losses) – net' - Investment in a management life insurance policy, with the Group as the beneficiary[37](index=37&type=chunk) - Changes in investment value are recognized in 'Other gains/(losses) – net'[37](index=37&type=chunk) [Trade Receivables and Contract Assets](index=15&type=section&id=Trade%20Receivables%20and%20Contract%20Assets) Total trade receivables increased to **HK$79.00 million**, mainly from 31-90 day aged receivables, with a 30-60 day credit period - The credit period for trade receivables generally ranges from **30 to 60 days**[38](index=38&type=chunk) Ageing Analysis of Trade Receivables and Contract Assets (As of June 30, 2025) | Item | June 30, 2025 (HK$ Thousand) | December 31, 2024 (HK$ Thousand) | | :--- | :--- | :--- | | Contract assets | 8,898 | 8,898 | | Trade receivables: | | | | 0-30 days | 32,398 | 33,364 | | 31-60 days | 30,483 | 19,165 | | 61-90 days | 16,120 | 10,270 | | **Total trade receivables** | **79,001** | **62,799** | | **Total** | **87,899** | **71,697** | [Pledged Bank Deposits](index=16&type=section&id=Pledged%20Bank%20Deposits) Pledged bank deposits serve as collateral for performance bonds and bank facilities granted to the Group - Pledged bank deposits are used to secure performance bonds and bank facilities[40](index=40&type=chunk) [Bank Facilities](index=16&type=section&id=Bank%20Facilities) Bank facilities are secured by pledged bank deposits and corporate guarantees from the Company - Bank facilities are secured by pledged bank deposits and corporate guarantees[41](index=41&type=chunk) [Share Capital](index=16&type=section&id=Share%20Capital) Issued and fully paid share capital totals **HK$8,000 thousand**, comprising **800,000 thousand** shares at **HK$0.01** par value each Share Capital Composition | Item | Thousand Shares | HK$ Thousand | | :--- | :--- | :--- | | Ordinary shares of HK$0.01 each | | | | Issued and fully paid | 800,000 | 8,000 | [Capital Commitments (Notes)](index=16&type=section&id=Capital%20Commitments%20(Notes)) The Group had no significant capital commitments as of June 30, 2025, and December 31, 2024 - The Group has no significant capital commitments[43](index=43&type=chunk) [Comparative Figures](index=16&type=section&id=Comparative%20Figures) Certain comparative figures were reclassified to align with the current year's presentation and disclosure - Some comparative figures have been reclassified to align with the current year's presentation[44](index=44&type=chunk) [Events After the Reporting Period](index=16&type=section&id=Events%20After%20the%20Reporting%20Period) No significant events occurred or affected the Group after June 30, 2025, up to the announcement date - No significant events occurred after the reporting period[45](index=45&type=chunk) Management Discussion and Analysis [Business Review](index=17&type=section&id=Business%20Review) Revenue grew **4.61%** with **10 new contracts** and **29 existing estates**, while receiving awards and collaborating on smart construction for service enhancement - The Group's revenue increased by **4.61%**, but profit slightly decreased, mainly due to upfront payments for initial management of newly signed contracts[46](index=46&type=chunk) - The existing property management portfolio includes **14 public housing estates** and **15 Home Ownership Scheme estates**, with contracts typically lasting **2 to 5 years**[46](index=46&type=chunk) - **10 new contracts** were signed during the review period, some already commenced, with the remainder to start service in H2 2025[46](index=46&type=chunk) - Awarded the Hong Kong Housing Authority's 'Estate Management Services Contractor Award' and 'Inclusive and Diverse Enterprise Award', and collaborated with HKUST on smart construction research to enhance service efficiency and resident experience[47](index=47&type=chunk)[48](index=48&type=chunk) [Financial Review](index=18&type=section&id=Financial%20Review) Revenue grew from new contracts, but profit declined due to increased employee benefit and cleaning costs, despite lower other operating expenses [Revenue (Financial Review)](index=18&type=section&id=Revenue%20(Financial%20Review)) Revenue from property management services increased **4.61%** to **HK$196.34 million**, driven by new contracts - Revenue increased by **4.61%** year-on-year, primarily driven by securing new property management service contracts[49](index=49&type=chunk) [Employee Benefit Expenses (Financial Review)](index=18&type=section&id=Employee%20Benefit%20Expenses%20(Financial%20Review)) Employee benefit expenses increased to **HK$179.22 million**, primarily due to a higher number of managed contracts - Employee benefit expenses increased, primarily due to a rise in the number of managed contracts[50](index=50&type=chunk) [Cleaning Material Costs](index=18&type=section&id=Cleaning%20Material%20Costs) Cleaning material costs rose to **HK$1.47 million**, mainly due to an increase in managed contracts - Cleaning material costs slightly increased, mainly due to a rise in the number of managed contracts[51](index=51&type=chunk) [Other Operating Expenses](index=18&type=section&id=Other%20Operating%20Expenses) Other operating expenses decreased to **HK$7.18 million**, mainly from lower professional fees and estate maintenance expenses - Other operating expenses decreased, mainly due to lower professional fees and estate maintenance expenses[52](index=52&type=chunk) [Profit for the Period](index=19&type=section&id=Profit%20for%20the%20Period) Profit for the period declined **4.77%** to **HK$8.71 million**, impacted by lower other income and higher employee benefit expenses - Profit for the period decreased by **4.77%**, impacted primarily by reduced other income and increased employee benefit expenses[53](index=53&type=chunk) [Liquidity and Financial Resources](index=19&type=section&id=Liquidity%20and%20Financial%20Resources) The Group funds operations via income and financing, with gearing improving to **0.61%** despite decreased current assets and cash - The Group primarily funds its operations through operating income and financing activities[54](index=54&type=chunk) Liquidity and Financial Resources Overview | Metric | June 30, 2025 (HK$ Thousand) | December 31, 2024 (HK$ Thousand) | | :--- | :--- | :--- | | Gearing ratio | 0.61% | 0.90% | | Current assets | 194,500 | 212,160 | | Cash and cash equivalents | 16,770 | 23,840 | [Capital Structure](index=19&type=section&id=Capital%20Structure) The Group's capital comprises solely ordinary shares, with no changes in capital structure during the period - The Group's capital is composed solely of ordinary shares, with no changes in capital structure during the reporting period[56](index=56&type=chunk) [Significant Acquisitions or Disposals](index=19&type=section&id=Significant%20Acquisitions%20or%20Disposals) No significant acquisitions or disposals of subsidiaries and associated companies occurred during the period - No significant acquisition or disposal activities occurred during the reporting period[57](index=57&type=chunk) [Future Material Investments and Capital Asset Plans](index=20&type=section&id=Future%20Material%20Investments%20and%20Capital%20Asset%20Plans) The Group had no material investment and capital asset plans as of June 30, 2025 - The Group had no material investment and capital asset plans at the end of the reporting period[58](index=58&type=chunk) [Exchange Rate Fluctuation Risk](index=20&type=section&id=Exchange%20Rate%20Fluctuation%20Risk) The Group's HKD-denominated business faces minimal exchange rate risk, with no hedging instruments used - The Group's business is primarily transacted in Hong Kong Dollars, with minimal impact from exchange rate risk[59](index=59&type=chunk) - No hedging instruments or contracts were entered into during the reporting period[59](index=59&type=chunk) [Material Investments](index=20&type=section&id=Material%20Investments) The Group's only material investment is an insurance contract valued at approximately **HK$2.7 million** Material Investments (Investment in an Insurance Contract) | Date | Amount (HK$ Thousand) | | :--- | :--- | | June 30, 2025 | 2,700 | | December 31, 2024 | 2,660 | [Capital Commitments (MDA)](index=20&type=section&id=Capital%20Commitments%20(MDA)) The Group had no material unprovided capital commitments as of June 30, 2025 - The Group has no material unprovided capital commitments[61](index=61&type=chunk) [Contingent Liabilities](index=20&type=section&id=Contingent%20Liabilities) The Group has **51 performance bonds** totaling **HK$137.12 million**, with low likelihood of being called, and no material legal claim impact - The Group has **51 performance bonds** totaling approximately **HK$137.12 million**[62](index=62&type=chunk) - The Directors believe the likelihood of performance bonds being called upon is low, and existing legal claims have no material financial impact on the company[62](index=62&type=chunk) [Interim Dividend](index=21&type=section&id=Interim%20Dividend) The Board declared an interim dividend of **HK$0.56 cents** per ordinary share for the six months ended June 30, 2025 - The Board declared an interim dividend of **HK$0.56 cents** per ordinary share[63](index=63&type=chunk) [Employees and Remuneration Policy](index=21&type=section&id=Employees%20and%20Remuneration%20Policy) The Group had **1,304 employees** with **HK$179.22 million** in benefit expenses, using performance-based bonuses to attract and retain talent - As of June 30, 2025, the Group had **1,304 employees**[64](index=64&type=chunk) Employee Benefit Expenses | Period | Amount (HK$ Thousand) | | :--- | :--- | | H1 2025 | 179,220 | | H1 2024 | 167,150 | - The company regularly reviews remuneration packages and grants discretionary bonuses based on performance and individual contributions[64](index=64&type=chunk) [Prospects and Outlook](index=21&type=section&id=Prospects%20and%20Outlook) The Group aims to consolidate market leadership in Hong Kong's public housing sector by optimizing services, controlling costs, and adopting smart management for long-term value - The Group will actively seize opportunities in Hong Kong's expanding public housing market, building competitiveness through quality services, optimized operations, and cost control[65](index=65&type=chunk) - Future plans include consolidating market leadership, deepening cooperation with government and industry, integrating into smart city development, and applying smart estate management concepts[65](index=65&type=chunk) - The goal is to continuously enhance service efficiency and quality, creating long-term value and sustainable growth prospects for investors and the community[65](index=65&type=chunk) Other Information [Disclosure of Interests](index=22&type=section&id=Disclosure%20of%20Interests) This section details Directors', chief executives', and substantial shareholders' interests and short positions in company shares as of June 30, 2025 [Directors' and Chief Executive's Interests and Short Positions in Shares, Underlying Shares and Debentures of the Company and its Associated Corporations](index=22&type=section&id=Directors%27%20and%20Chief%20Executive%27s%20Interests%20and%20Short%20Positions%20in%20Shares%2C%20Underlying%20Shares%20and%20Debentures%20of%20the%20Company%20and%20its%20Associated%20Corporations) As of June 30, 2025, Mr. Pang Yat Ting held **64.95%** via controlled corporations, and Mr. Ng Fuk Wah held **10.00%** via spouse's interests Directors' Long Positions in Shares (As of June 30, 2025) | Name of Director | Capacity | Nature of Interest | Number of Shares (L) | Approximate % of the Company | | :--- | :--- | :--- | :--- | :--- | | Mr. Pang Yat Ting | Interest in controlled corporation | Corporate interest | 519,649,500 | 64.95% | | Mr. Ng Fuk Wah | Interest of spouse | Corporate interest | 80,000,000 | 10.00% | - Mr. Pang Yat Ting indirectly holds shares through Chun Wo Overseas and Asia Allied Infrastructure, and Ms. Li Wai Han is also deemed to have relevant interests[66](index=66&type=chunk)[71](index=71&type=chunk) - Mr. Ng Fuk Wah is deemed to have interests in relevant shares due to his spouse, Ms. Tam Mo Kit, holding interests in R5A Group Limited[67](index=67&type=chunk) [Substantial Shareholders' Interests and Short Positions in Shares, Underlying Shares and Debentures of the Company and its Associated Corporations](index=23&type=section&id=Substantial%20Shareholders%27%20Interests%20and%20Short%20Positions%20in%20Shares%2C%20Underlying%20Shares%20and%20Debentures%20of%20the%20Company%20and%20its%20Associated%20Corporations) Chun Wo Overseas, Asia Allied Infrastructure, and Ms. Li Wai Han each held **64.95%**, while R5A Group Limited held **10.00%** of shares Substantial Shareholders' Long Positions in Ordinary Shares of the Company (As of June 30, 2025) | Name of Shareholder | Capacity/Nature of Interest | Number of Shares (L) | Approximate % of the Company | | :--- | :--- | :--- | :--- | | Chun Wo Overseas | Beneficial owner | 519,649,500 | 64.95% | | Asia Allied Infrastructure | Interest in controlled corporation | 519,649,500 | 64.95% | | Ms. Li Wai Han | Interest in controlled corporation | 519,649,500 | 64.95% | | R5A Group Limited | Beneficial owner | 80,000,000 | 10.00% | - Chun Wo Overseas is a wholly-owned subsidiary of Asia Allied Infrastructure, which is **53.01%** owned by GT Winners[71](index=71&type=chunk) - Mr. Pang Yat Ting and Ms. Li Wai Han each own **45%** of GT Winners, and are thus deemed to have relevant interests[71](index=71&type=chunk) [Share Option Scheme](index=24&type=section&id=Share%20Option%20Scheme) A share option scheme adopted on **October 24, 2017**, incentivizes participants with specific exercise prices, vesting periods, and a ten-year validity, with no activity this period - The share option scheme was adopted on **October 24, 2017**, aiming to incentivize eligible participants who contribute to the Group's business[70](index=70&type=chunk) - The exercise price of share options shall not be less than the highest of the closing price on the grant date, the average closing price for the preceding five business days, and the nominal value of the shares[72](index=72&type=chunk) - The vesting period for share options shall not be less than **12 months**, with a validity period of **ten years**. No share options were granted, exercised, lapsed, or cancelled during the reporting period[73](index=73&type=chunk) - The total number of shares that may be issued under the share option scheme shall not exceed **10%** of the issued shares (**80,000,000 shares**)[73](index=73&type=chunk) [Competing Interests](index=25&type=section&id=Competing%20Interests) No competing business or interests from Directors, controlling shareholders, or their associates were identified during the period - The Directors found no interests competing with the Group's business[75](index=75&type=chunk) - The controlling shareholders entered into a non-competition deed on **October 24, 2017**[75](index=75&type=chunk) [Corporate Governance Code](index=26&type=section&id=Corporate%20Governance%20Code) The company fully complied with all code provisions of the GEM Listing Rules' Corporate Governance Code during the period, with no deviations - The company has consistently complied with all code provisions of the Corporate Governance Code under Appendix C1 of the GEM Listing Rules, with no deviations[76](index=76&type=chunk) [Directors' Securities Transactions](index=26&type=section&id=Directors%27%20Securities%20Transactions) The company adopted a code of conduct for Directors' securities transactions, with all Directors confirming compliance and no breaches identified - The company has adopted a code of conduct for Directors' securities transactions, and all Directors confirm compliance[77](index=77&type=chunk) - The company requires employees or directors/employees of subsidiaries who may possess inside information to adhere to the same trading restrictions[77](index=77&type=chunk) [Interim Dividend and Closure of Register of Members](index=26&type=section&id=Interim%20Dividend%20and%20Closure%20of%20Register%20of%20Members) An interim dividend of **HK$0.56 cents** per share is payable by **September 29, 2025**, with the register of members closed from **September 11-15** for eligibility - An interim dividend of **HK$0.56 cents** per ordinary share was declared, payable on or before **September 29, 2025**[78](index=78&type=chunk) - To qualify for the interim dividend, the register of members will be closed from **September 11 to September 15, 2025**[79](index=79&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=27&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company%27s%20Listed%20Securities) Neither the company nor its subsidiaries purchased, sold, or redeemed any listed securities during the period - Neither the company nor its subsidiaries engaged in the purchase, sale, or redemption of listed securities during the reporting period[80](index=80&type=chunk) [Review by Audit Committee](index=27&type=section&id=Review%20by%20Audit%20Committee) The Audit Committee reviewed the unaudited financial information, confirming compliance with accounting standards and GEM Listing Rules, without auditor review - The financial information in this announcement has not been audited or reviewed by the auditor[81](index=81&type=chunk) - The Audit Committee has reviewed the financial information and considers it to comply with applicable accounting standards and the GEM Listing Rules[81](index=81&type=chunk) [Board of Directors](index=27&type=section&id=Board%20of%20Directors) The Board comprises five executive and four independent non-executive directors, chaired by Dr. Engineer Pang Yat Ting, JP - The Board of Directors consists of **five executive directors** and **four independent non-executive directors**, chaired by Dr. Engineer Pang Yat Ting, JP[82](index=82&type=chunk) [Publication of Announcement](index=27&type=section&id=Publication%20of%20Announcement) This announcement will be published on the HKEX and company websites for at least seven days - This announcement will be published on the HKEX and company websites for at least **seven days**[83](index=83&type=chunk)

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 雅居投資控股有限公司 呈交日期: 2025年8月6日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 08426 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | HKD | | 0.01 HKD | | 20,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 2,000,000,000 | HKD | | 0.01 HKD | | 20,000,000 | 本月底法定/註冊股本總額： HKD 20,000 ...

Business Performance - The Group's revenue increased by approximately 13.42% from HK$334.24 million in 2023 to HK$379.11 million in 2024[24]. - Profit before income tax for the year increased to approximately HK$20.25 million, up from HK$19.82 million in 2023[24]. - Profit for the year decreased to approximately HK$16.97 million for the year ended December 31, 2024, down from HK$17.77 million in 2023, mainly due to a reduction in anti-epidemic subsidies from the Hong Kong government[52]. - Total comprehensive income for the year ended December 31, 2024, amounted to approximately HK$14.02 million, compared to approximately HK$17.89 million for the year ended December 31, 2023[56]. - The Group's income tax expense increased to approximately HK$3.29 million for the year ended December 31, 2024, from HK$2.04 million in 2023[51]. - The Group declared an interim dividend of HK$1.40 cents per ordinary share, totaling HK$11.20 million for the year ended December 31, 2024, compared to HK$6.00 million in 2023[60]. Contracts and Market Opportunities - The Group was awarded 6 new contracts during the review period, demonstrating strong competitive edge in the market[17]. - The Group anticipates increased demand for public housing property management services due to government initiatives in the 2024 Policy Address[18]. - The Group aims to actively bid for more contracts to capitalize on growth and development opportunities in property management[18]. - The Hong Kong government anticipates supplying up to 189,000 public housing units over the next five years, creating substantial business growth opportunities for the Group[58]. - The focus will be on opportunities in both residential and commercial properties from public and private sectors[19]. Employee and Operational Insights - Employee benefits expenses rose to approximately HK$343.49 million in 2024, representing about 90.61% of the Group's revenue, an increase of approximately 14.09% from the previous year[39]. - The total number of employees increased to 1,677 in 2024, up from 1,579 in 2023[38]. - Employee benefits expenses totaled approximately HK$343.49 million for the year ended December 31, 2024, representing an increase of about 14.09% compared to HK$301.08 million in 2023[43]. - Other operating expenses increased to approximately HK$16.72 million for the year ended December 31, 2024, up from HK$14.75 million in 2023, primarily due to increased professional fees related to a merger and acquisition transaction[46]. Technology and Innovation - The integration of information technology and smart solutions will be advanced within the property management sector to enhance service quality[19]. - The Group initiated Hong Kong's first collaborative research project involving "government-industry-academia-research" to develop a smart property management platform using digital twin technology[29]. - The Group plans to leverage digital twin technology, big data analytics, and artificial intelligence to enhance property management and service scope[53]. - The Group aims to enhance service quality and address facility management challenges through innovative technology integration[29]. Corporate Governance - The Company has adopted the Corporate Governance Code and believes it has complied with all code provisions for the year ended December 31, 2024[145]. - The overall management of the Company's business is vested in the Board, which is collectively responsible for promoting the Company's success[153]. - The Company is committed to enhancing its corporate governance standards to meet rising expectations and comply with regulatory requirements[146]. - The Board consists of four independent non-executive Directors, one of whom has appropriate professional qualifications in accounting and related financial expertise[152]. - The Company has received annual confirmations of independence from each independent non-executive Director, and all are considered independent[155]. Board Composition and Diversity - The Company has adopted a Board Diversity Policy, which aims to achieve diversity on the Board based on measurable aspects such as gender, age, ethnicity, knowledge, and length of services[190]. - Currently, the Board includes one female Director, thereby achieving gender diversity[190]. - The Company has established measurable objectives for Board diversity, focusing on various perspectives including gender, age, cultural background, and professional experience[191]. - The Nomination Committee will consider candidates based on character, qualifications, independence, and potential contributions to the Board[180]. Management Team and Appointments - Ir Dr. Pang Yat Bond, Derrick has been appointed as executive Director and chairman of the board on March 6, 2024, and April 2, 2024, respectively[91]. - Mr. Pang Yat Ting, Dominic has been appointed as executive Director and Chief Executive Officer on March 6, 2024, and April 2, 2024, respectively[95]. - Mr. Xu Jianhua, Jerry has been appointed as executive Director on March 6, 2024, and has over 25 years of corporate management experience[103]. - The Group's management team includes professionals with extensive backgrounds in finance, real estate, and asset management[131][132][133][135]. Audit and Remuneration Committees - The Audit Committee was established on October 24, 2017, and consists of four independent non-executive Directors[160]. - The primary duties of the Audit Committee include reviewing the Group's financial reporting process and overseeing risk management and internal control procedures[161]. - The Remuneration Committee was also established on October 24, 2017, and consists of five members, including one executive Director and four independent non-executive Directors[168]. - The main responsibility of the Remuneration Committee is to recommend overall remuneration policies for all Directors and senior management[169].

Financial Performance - For the fiscal year ending December 31, 2024, the group's revenue was approximately HKD 379.11 million, an increase of about 13.42% compared to HKD 334.24 million in 2023[6]. - The group's operating profit for the same period was approximately HKD 15.15 million, reflecting a slight increase of about 0.53% from HKD 15.07 million in 2023[6]. - The net profit for the fiscal year was approximately HKD 16.97 million, a decrease of about 4.50% from HKD 17.77 million in 2023[6]. - Basic earnings per share for the year were HKD 2.12, a decrease from HKD 2.22 in 2023[8]. - The company's profit before tax for 2024 was HKD 20,251,000, compared to HKD 19,816,000 in 2023, representing an increase of approximately 2.2%[35]. - The pre-tax profit for the year increased to approximately HKD 20,250,000, compared to HKD 19,820,000 in 2023[55]. - The estimated tax expense for the year was calculated at a rate of 16.5%, consistent with the previous year[34]. - The company reported a tax expense of HKD 3,367,000 for 2024, compared to HKD 2,105,000 in 2023, which is an increase of approximately 60%[35]. - The income tax expenses for the year ended December 31, 2024, were approximately HKD 3,290,000, compared to HKD 2,040,000 in 2023, with profit before tax of approximately HKD 20,250,000 for 2024[77]. Dividends - The board proposed a final dividend of HKD 0.014 per ordinary share, totaling HKD 11.20 million, compared to HKD 5.00 million in 2023[6]. - The interim dividend for 2024 is proposed at HKD 1.40 per share, up from HKD 0.75 per share in 2023, indicating an increase of 86.7%[40]. - The proposed final dividend for the year ending December 31, 2024, is HKD 1.40 per share, totaling approximately HKD 11,200,000[40]. Assets and Liabilities - Total assets increased to HKD 220,109,000 as of December 31, 2024, compared to HKD 209,529,000 in 2023, representing a growth of approximately 5.3%[11]. - Total liabilities increased from HKD 53,353,000 in 2023 to HKD 66,110,000 in 2024, reflecting a rise of about 24%[13]. - Total equity decreased from HKD 156,176,000 in 2023 to HKD 153,999,000 in 2024, a reduction of approximately 1.4%[13]. - Current assets rose significantly from HKD 200,753,000 in 2023 to HKD 212,156,000 in 2024, marking an increase of approximately 5.7%[11]. - Non-current assets decreased from HKD 8,776,000 in 2023 to HKD 7,953,000 in 2024, a decline of about 9.4%[11]. - The company’s total liabilities to equity ratio increased from 0.34 in 2023 to 0.43 in 2024, indicating a higher leverage[13]. - The company’s retained earnings decreased from HKD 148,176,000 in 2023 to HKD 145,999,000 in 2024, a decline of approximately 1.5%[13]. - Cash and cash equivalents surged from HKD 11,556,000 in 2023 to HKD 23,840,000 in 2024, an increase of about 106.5%[11]. - Trade receivables decreased from HKD 75,087,000 in 2023 to HKD 62,799,000 in 2024, a decline of approximately 16.3%[11]. - The company’s trade payables as of December 31, 2024, were valued at HKD 63,053,000, compared to HKD 50,674,000 in 2023[49]. Operating Expenses - The total operating expenses for 2024 amounted to HKD 365,252,000, up from HKD 321,384,000 in 2023, indicating an increase of approximately 13.6%[31]. - Employee benefit expenses increased by approximately 14.09% from HKD 301,080,000 for the year ending December 31, 2023, to approximately HKD 343,490,000 for the year ending December 31, 2024, accounting for about 90.61% of the group's revenue[69]. - Other operating expenses for the year ended December 31, 2024, amounted to approximately HKD 16,720,000, an increase of about 13.36% compared to HKD 14,750,000 for the year ended December 31, 2023[73]. - The group incurred employee benefit expenses of HKD 343.49 million, up from HKD 301.08 million in 2023[8]. Revenue Sources - The group's revenue from property management services for the year ended December 31, 2024, was HKD 379,106,000, an increase from HKD 334,240,000 in 2023, representing a growth of approximately 13.4%[29]. - Major customer A contributed HKD 375,447,000 to the group's revenue in 2024, accounting for over 10% of total revenue, compared to HKD 334,240,000 in 2023[28]. - The group has not identified any other single customer contributing over 10% of total revenue apart from customer A[28]. Strategic Developments - The group has acquired a subsidiary to strengthen its strategic development and aims to leverage synergies to capture government commitments for increased housing supply over the next decade[57]. - The Hong Kong government plans to supply up to 189,000 public housing units over the next five years, which is expected to create significant business growth opportunities for the public housing property management sector[62]. - The group successfully tested a property management platform utilizing digital twin technology, aiming to enhance indoor air quality and facility management[60]. - The group is focusing on sustainable development and smart city concepts to enhance service quality and market competitiveness[63]. - The group plans to continue optimizing management models and enhancing employee skills to better respond to market changes and improve service experiences[63]. Compliance and Governance - The group has maintained good corporate governance practices and has complied with all corporate governance code provisions as of December 31, 2024[98]. - The audit committee, consisting of four independent non-executive directors, has reviewed the annual performance for the year ended December 31, 2024[108]. - The board consists of five executive directors and four independent non-executive directors, ensuring a diverse governance structure[113]. - The announcement complies with the GEM listing rules of the Hong Kong Stock Exchange, affirming the accuracy and completeness of the information provided[114]. Miscellaneous - The group has not entered into any significant mergers or acquisitions during the reporting period[96]. - The group has not engaged in any purchase, sale, or redemption of its listed securities since the listing date[101]. - The group has confirmed that the financial statements for the year ending December 31, 2024, align with the draft consolidated financial statements[109]. - The group has no significant subsequent events other than those disclosed in the announcement[96].

Financial Performance - The Group recorded an unaudited revenue of approximately HK$187.68 million for the six months ended 30 June 2024, representing an increase of approximately 14.82% over the same period in 2023[12]. - The unaudited profit for the period was approximately HK$9.15 million, a decrease of approximately 20.85% compared to HK$11.56 million for the same period in 2023[12]. - Basic earnings per share for the six months ended 30 June 2024 was approximately HK1.14 cents, down from HK1.44 cents for the same period in 2023[12]. - For the six months ended June 30, 2024, the Group reported a profit of HK$9,146,000, a decrease of 21% compared to HK$11,558,000 in the same period of 2023[14]. - Total comprehensive income for the Period was HK$9,672,000, down from HK$11,058,000 in 2023, reflecting a decline of approximately 12.5%[14]. - Operating profit decreased to HK$8,520,000, down 30% from HK$12,196,000 in 2023[13]. - Profit for the period decreased from approximately HK$11.56 million for the six months ended June 30, 2023 to approximately HK$9.15 million for the six months ended June 30, 2024, representing a decrease of approximately 20.85%[91]. Dividends - The Board of Directors declared an interim dividend of HK1.4 cents per share for the six months ended 30 June 2024, compared to HK0.75 cent per share for the same period in 2023[12]. - The interim dividend declared for the six months ended June 30, 2024, is HK1.4 cents per ordinary share, up from HK0.75 cents per ordinary share for the same period in 2023, representing an increase of 86.67%[55]. - The Company declared an interim dividend of HK$1.4 cents per ordinary share for the six months ended June 30, 2024, compared to HK$0.75 cents per share in 2023[137]. - The interim dividend is payable on or before September 30, 2024, to shareholders recorded on the register as of September 10, 2024[138]. Assets and Liabilities - The Group's total assets as of June 30, 2024, amounted to HK$218,160,000, an increase from HK$209,529,000 at the end of 2023[15]. - Current liabilities rose to HK$56,194,000, compared to HK$51,750,000 in the previous year, indicating an increase of 8.5%[17]. - The Group's cash and cash equivalents decreased to HK$10,650,000 from HK$11,556,000, a decline of 7.8%[15]. - As of June 30, 2024, trade receivables up to 30 days amounted to HK$32,924,000, slightly down from HK$33,089,000 as of December 31, 2023[67]. - The Group's lease liabilities as of June 30, 2024, totaled HK$1,827,000, a decrease from HK$2,272,000 as of December 31, 2023, indicating a reduction of approximately 19.6%[61]. - The Group had current assets of approximately HK$208.82 million as at 30 June 2024, an increase from approximately HK$200.75 million as at 31 December 2023[94]. Employee Expenses - Employee benefits expenses increased to HK$167,145,000, up from HK$147,411,000, representing a rise of 13.4%[13]. - Employee benefits expenses totaled HK$167,145,000 for the six months ended June 30, 2024, up from HK$147,411,000 in 2023, reflecting an increase of 13.4%[47]. - As of June 30, 2024, the Group had a total of 1,613 employees, with employee benefits expenses amounting to approximately HK$167.15 million, an increase from approximately HK$147.41 million for the same period in 2023, representing a growth of about 13.1%[102]. Cash Flow - Cash generated from operating activities was HK$24,197,000, slightly lower than HK$24,275,000 in the prior year, reflecting a decrease of 0.3%[20]. - The company experienced a net cash outflow from investing activities of HK$19,602,000, contrasting with a net inflow of HK$20,240,000 in the same period last year[20]. - Cash and cash equivalents at the end of the period stood at HK$10,650,000, down from HK$52,930,000 at the end of June 2023, representing a significant decrease of approximately 79.9%[20]. - As at 30 June 2024, the Group's cash and cash equivalents amounted to approximately HK$10.65 million, down from approximately HK$11.56 million as at 31 December 2023[92]. Financial Management - The Group's financial income net of expenses increased to HK$1,812,000 from HK$1,003,000, marking an increase of 80.7%[13]. - The Group's liquidity risk showed no material change in the contractual undiscounted cash outflow for financial liabilities compared to year-end[35]. - The fair value of financial assets and liabilities measured at amortized cost approximates their carrying amounts, including cash and cash equivalents, trade receivables, and borrowings[36]. - The Group does not use financial derivatives to hedge its financial risk exposures, focusing instead on minimizing potential adverse effects on financial performance[34]. - The Group's overall risk management program addresses various financial risks, including credit risk, interest rate risk, foreign exchange risk, and liquidity risk[33]. Business Operations - The company continues to focus on property management services, primarily in public housing in Hong Kong, with no new segments reported[23]. - Property management services income for the six months ended June 30, 2024, was HK$187,681,000, an increase of 14.8% from HK$163,462,000 in 2023[39]. - The Group is optimistic about the future growth of public housing property management services, anticipating expansion in line with the government's plan to build approximately 360,000 public housing units over the next 10 years[105]. - The introduction of digital twin technology and robotics is expected to enhance service quality and operational efficiency in property management, aligning with the Group's commitment to sustainable practices[104]. - The Group aims to establish new benchmarks in estate management, security, and environmental stewardship, reflecting its forward-thinking approach[104]. Corporate Governance - The Company complied with all code provisions set out in the Corporate Governance Code during the reporting period, with no deviations noted[135]. - The Audit Committee, comprising independent non-executive Directors, oversees the financial reporting process and internal control procedures[142]. - The Audit Committee has reviewed the unaudited condensed consolidated financial information for the six months ended June 30, 2024, confirming compliance with applicable accounting standards and GEM Listing Rules[143]. - The financial report will be available on the GEM website for at least seven days, ensuring transparency and accessibility for stakeholders[144].

Financial Performance - The company recorded unaudited revenue of approximately HKD 187,680,000 for the six months ended June 30, 2024, representing an increase of about 14.82% compared to HKD 163,460,000 for the same period in 2023[2] - The unaudited profit for the six months ended June 30, 2024, was approximately HKD 9,150,000, a decrease of about 20.85% from HKD 11,560,000 for the same period in 2023[2] - Basic earnings per share for the six months ended June 30, 2024, were approximately HKD 1.14, down from HKD 1.44 for the same period in 2023[2] - The total comprehensive income for the six months ended June 30, 2024, was HKD 9,672,000, compared to HKD 11,058,000 for the same period in 2023[4] - The company reported a net profit of HKD 11,558,000 for the six months ended June 30, 2024, compared to HKD 11,058,000 for the same period in 2023, showing a growth of about 4.5%[7] - Profit for the period decreased by approximately 20.85%, from HKD 11,560,000 for the six months ended June 30, 2023, to HKD 9,150,000 for the same period in 2024[44] Dividends - The board declared an interim dividend of HKD 1.4 cents per share for the six months ended June 30, 2024, compared to HKD 0.75 cents per share for the same period in 2023[2] - The group declared an interim dividend of HKD 0.014 per ordinary share for the six months ended June 30, 2024[52] - The interim dividend will be payable on September 10, 2024, to shareholders on record as of September 5, 2024[66] Assets and Liabilities - Total assets as of June 30, 2024, amounted to HKD 218,160,000, an increase from HKD 209,529,000 as of December 31, 2023[5] - As of June 30, 2024, total liabilities amounted to HKD 57,312,000, an increase from HKD 53,353,000 as of June 30, 2023, representing a growth of approximately 5.5%[6] - The total equity as of June 30, 2024, was HKD 160,848,000, up from HKD 150,291,000 on June 30, 2023, indicating an increase of about 7.1%[7] - The asset-to-liability ratio was approximately 1.14% as of June 30, 2024, down from 1.45% as of December 31, 2023[45] Cash Flow - Cash flow from operating activities for the six months ended June 30, 2024, was HKD 24,197,000, slightly down from HKD 25,374,000 for the same period in 2023, reflecting a decrease of approximately 4.6%[8] - The net cash flow from investing activities for the six months ended June 30, 2024, was negative HKD 19,602,000, compared to positive HKD 20,240,000 in the prior year, indicating a significant shift in investment cash flow[8] - The total cash and cash equivalents decreased to HKD 10,650,000 as of June 30, 2024, from HKD 52,930,000 at the end of June 30, 2023, representing a decline of approximately 79.9%[8] Employee Expenses - Employee benefit expenses increased to HKD 167,145,000 for the six months ended June 30, 2024, from HKD 147,411,000 for the same period in 2023[3] - Employee benefits expenses for the six months ended June 30, 2024, totaled HKD 167,145,000, an increase of 13.4% from HKD 147,411,000 for the same period in 2023[20] - The group employed a total of 1,613 employees as of June 30, 2024, with employee benefit expenses amounting to approximately HKD 167,150,000 for the six months ended June 30, 2024[53] Operational Highlights - The company operates a single business segment providing property management services in Hong Kong, with all assets located in the same region[12] - The group currently manages a portfolio of 17 public housing estates owned by the Hong Kong Housing Authority and 6 housing projects under the Home Ownership Scheme[38] - The group signed 4 new contracts during the review period, which are expected to commence in 2025[38] - The government plans to build approximately 360,000 public housing units over the next ten years, providing new opportunities for the group[40] - The group is collaborating with the Hong Kong University of Science and Technology to develop an innovative property management platform using digital twin technology[39] - The group remains optimistic about future business development opportunities in the public housing management market[40] Shareholder Information - As of June 30, 2024, Mr. Peng Yiting holds 687,649,500 shares, representing 85.95% of the company's equity[54] - Mr. Wu Fuhua holds 80,000,000 shares, accounting for 10.00% of the company's equity[54] - On January 26, 2024, the company entered into an agreement to purchase 473,870,000 shares, which represents approximately 59.23% of the company's issued share capital, at a maximum price of HKD 165,854,500, equivalent to HKD 0.35 per share[55] - After the acquisition, the offeror and its concert parties will collectively own 767,649,500 shares, which corresponds to approximately 69.23% of the total issued shares[56] - Major shareholder Asia United Infrastructure Holdings owns 687,649,500 shares, representing approximately 85.95% of the company's equity[58] Compliance and Governance - The company has adhered to all corporate governance codes as per GEM listing rules without any deviations as of June 30, 2024[64] - The company has implemented a code of conduct for directors regarding securities trading, compliant with GEM listing rules[65] - The audit committee has reviewed the unaudited condensed consolidated financial information for the six months ending June 30, 2024, and found it compliant with applicable accounting standards and GEM listing rules[68]

Financial Performance - For the year ended December 31, 2023, the group's revenue was approximately HKD 334.24 million, a decrease of about 17.67% compared to HKD 405.99 million in 2022[6]. - The group's operating profit for the year ended December 31, 2023, was approximately HKD 15.07 million, down approximately 35.71% from HKD 23.44 million in 2022[6]. - The net profit for the year ended December 31, 2023, was approximately HKD 17.77 million, a decrease of about 16.10% compared to HKD 21.18 million in 2022[6]. - The group's total comprehensive income for the year ended December 31, 2023, was HKD 17.885 million, compared to HKD 23.556 million in 2022[9]. - The basic and diluted earnings per share for the year ended December 31, 2023, were HKD 2.22, down from HKD 2.65 in 2022[8]. - Total expenses before income tax for 2023 amounted to HKD 321,384,000, a decrease of 17.9% from HKD 391,741,000 in 2022[32]. - The company's profit attributable to shareholders decreased to HKD 17,774,000 in 2023 from HKD 21,180,000 in 2022, representing a decline of approximately 16.9%[38]. - Earnings per share (EPS) fell to HKD 2.22 in 2023 compared to HKD 2.65 in 2022, a decrease of about 16.2%[38]. Dividends - The board proposed a final dividend of HKD 0.00625 per share, totaling HKD 5.00 million, down from HKD 6.00 million in 2022[6]. - The company declared an interim dividend of HKD 0.0075 per share for 2023, consistent with the dividend declared in 2022[39]. - The company declared an interim dividend of HKD 0.0075 per share, totaling HKD 6.00 million, and proposed a final dividend of HKD 0.00625 per share, totaling HKD 5.00 million for the year ended December 31, 2023[72]. Revenue Sources - The group's revenue from property management services for 2023 was HKD 334,240,000, a decrease of 17.6% compared to HKD 405,987,000 in 2022[30]. - The group had no other single customer contributing more than 10% of total revenue, with Customer A contributing HKD 334,240,000 in 2023, down from HKD 405,987,000 in 2022[29]. - Other income for the year was approximately HKD 3.845 million, a decrease from HKD 11.022 million in 2022[8]. - Other income decreased from approximately HKD 11.02 million for the year ended December 31, 2022, to about HKD 3.85 million for the year ended December 31, 2023, mainly due to a reduction in anti-epidemic subsidies received from the Hong Kong government[61]. Expenses and Cost Management - Employee benefit expenses totaled approximately HKD 301.08 million for the year ended December 31, 2023, down about 18.38% from HKD 368.89 million in 2022, representing about 90.08% of the group's revenue[63]. - The group reported a decrease in employee benefit expenses to HKD 301.075 million from HKD 368.888 million in 2022[8]. - The group experienced a reduction in cleaning materials costs to HKD 2.774 million from HKD 4.807 million in 2022[8]. - Cleaning materials costs for the year ended December 31, 2023, were approximately HKD 2.77 million, a decrease of 42.41% from HKD 4.81 million in 2022[65]. - Other operating expenses were approximately HKD 14.75 million for the year ended December 31, 2023, a decrease of about 2.12% from HKD 15.07 million in 2022[67]. Assets and Liabilities - Total assets increased to HKD 209,529 million in 2023, up from HKD 201,983 million in 2022, representing a growth of 3.7%[11]. - Total liabilities rose to HKD 53,353 million in 2023, compared to HKD 51,692 million in 2022, indicating an increase of 3.2%[13]. - Non-current assets, including property and equipment, decreased to HKD 1,162 million in 2023 from HKD 1,494 million in 2022, a decline of 22.3%[11]. - Trade receivables increased significantly to HKD 75,087 million in 2023, up from HKD 64,248 million in 2022, marking a growth of 16.5%[11]. - Total current liabilities decreased to HKD 51,750 million in 2023 from HKD 50,011 million in 2022, a reduction of 3.5%[13]. - The company's total liabilities to total assets ratio improved slightly, decreasing to 25.5% in 2023 from 25.6% in 2022[13]. Employee Information - The group had a total of 1,579 employees as of December 31, 2023, compared to 1,339 employees in 2022[63]. - The group employed 1,579 employees as of December 31, 2023, an increase from 1,339 employees in 2022, with employee benefit expenses amounting to approximately HKD 301.08 million in 2023, down from HKD 368.89 million in 2022[89]. Accounting Policies and Standards - The group has adopted new accounting standards effective from January 1, 2023, including HKFRS 1 and HKFRS 17, which are expected to have no significant impact on the financial statements[19]. - The group anticipates that the new accounting standards and amendments will not have a significant impact on the consolidated financial statements[20]. - The group has changed its accounting policy regarding the offsetting of long service payments due to the new Employment and Retirement Schemes (Amendment) Ordinance, effective from May 1, 2025[22]. - The group will no longer apply the "practical expedient" method for offsetting mandatory contributions under the new guidelines issued in July 2023[23]. - The change in accounting policy will result in an increase in long service payment liabilities for the year ending December 31, 2022[24]. Corporate Governance - The Audit Committee has reviewed the annual performance for the year ended December 31, 2023, ensuring compliance with financial reporting processes[101]. - The company has adhered to all corporate governance codes as of December 31, 2023, and will continue to enhance its governance standards[91]. - The directors confirm that all material information is accurate and complete, with no misleading or fraudulent elements[107]. Future Outlook - The group plans to implement proactive marketing strategies and enhance cost control measures to overcome challenges in the property management service sector[56]. - The group faced risks related to legal actions and claims, but the directors believe that any existing claims and legal proceedings will not have a significant financial impact as of December 31, 2023[55].

智通财经APP讯，亚洲联合基建控股(00711)及雅居投资控股(08426)联合公布，于2024年1月26日，要约 人俊和海外控股有限公司(买方)拟向R5A、吴福华先生、何柱明先生及邓降福先生收购约4.74亿股雅居 投资控股(08426)股份，占截至本联合公告日期目标公司已发行股本约59.23%，代价应为最多约1.66亿港 元，相当于每股待售股份0.350港元。要约人须于完成日期向卖方以现金支付约1.37亿港元。一旦盈利目 标达成，则须分阶段向R5A支付代价的剩余部份。 卖方被视为与要约人一致行动的人士。完成交易后，要约人及其一致行动人士(不包括卖方)将拥有合共 约4.74亿股目标公司股份(占本联合公告日期已发行目标公司股份约59.23%)以及要约人及其所有一致行 动人士(包括R5A)将拥有合共约5.54亿股目标公司股份(截至本联合公告日期占目标公司已发行股份约 69.23%)。 根据收购守则规则26.1，紧随完成交易后，要约人须就全部已发行目标公司股份(要约人及其一致行动 人士已拥有或同意收购者除外)提出强制无条件现金要约(即股份要约)。每股要约股份现金0.350港元， 较目标公司于2024年1月26日收市 ...

Financial Performance - For the nine months ended September 30, 2023, the group recorded unaudited revenue of approximately HKD 250.2 million, a decrease of about 23.6% compared to HKD 327.3 million for the same period in 2022[2]. - The group's unaudited profit for the nine months ended September 30, 2023, was approximately HKD 17.4 million, compared to HKD 14.4 million for the same period in 2022, reflecting an increase[2]. - For the three months ended September 30, 2023, the group reported unaudited revenue of HKD 86.7 million, down from HKD 106.3 million in the same period of 2022, representing a decrease of approximately 18.4%[3]. - The operating profit for the nine months ended September 30, 2023, was HKD 17.1 million, an increase from HKD 15.9 million in the same period of 2022[3]. - The basic and diluted earnings per share for the nine months ended September 30, 2023, were HKD 2.17, compared to HKD 1.80 for the same period in 2022, indicating growth[3]. - The total comprehensive income for the nine months ended September 30, 2023, was HKD 16.6 million, compared to HKD 14.0 million for the same period in 2022[4]. Expenses - Employee benefit expenses for the nine months ended September 30, 2023, were approximately HKD 223.7 million, down 25.0% from HKD 298.4 million in the same period of 2022[2]. - The group reported a decrease in other income from HKD 8.2 million in the nine months ended September 30, 2022, to HKD 3.8 million in the same period of 2023[3]. - Cleaning materials costs decreased from approximately HKD 4.1 million for the nine months ended September 30, 2022, to approximately HKD 2.0 million for the same period in 2023, attributed to fewer public housing contracts managed and reduced use of antiviral disinfectants[19]. - Other operating expenses decreased to approximately HKD 9.8 million for the nine months ended September 30, 2022, from HKD 11.4 million in the previous period, primarily due to reductions in insurance, security, and miscellaneous expenses[20]. Dividends - The group paid dividends totaling HKD 18.0 million during the nine months ended September 30, 2023[5]. - The company declared an interim dividend of HKD 6 million (HKD 0.75 per share) for the six months ended June 30, 2023[14]. - The company did not recommend the payment of dividends for the period ended September 30, 2022[15]. Shareholder Information - R5A Group Limited holds 491,440,000 shares, representing 61.43% of the company's issued share capital, with significant ownership by key executives[25]. - Major shareholder Yang Xiuyun holds 57,120,000 shares, accounting for 7.14% of the company's issued share capital[25]. Corporate Governance - The company has adhered to all corporate governance codes as per GEM listing rules, with no deviations reported[28]. - The audit committee has reviewed the unaudited consolidated results for the period and believes they comply with applicable accounting standards and GEM listing rules[32]. - The audit committee consists of independent non-executive directors, ensuring oversight of the financial reporting process[32]. - The company has adopted a code of conduct regarding securities trading by directors, in compliance with GEM listing rules[29]. - There have been no purchases, sales, or redemptions of the company's listed securities by the company or its subsidiaries during the period[30]. Market Outlook - The property management services for public housing in Hong Kong are expected to grow alongside the development of the public housing market, with the company optimistic about increasing its market share post-listing[22]. Financial Reporting - The financial information in the report has not been audited by the company's auditors[32]. - The report will be available on the GEM website and the company's website for at least seven days from the publication date[32]. - There have been no significant matters to disclose after the reporting period[31].