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，並明確表示不會就 因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損 失承擔任何責任。 Modern Living Investments Holdings Limited 雅 居 投 資 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：8426） 截 至2022年12月31日 止 年 度 之 年 度 業 績 公 告 香港聯合交易所有限公司（「聯交所」）GEM市場之特色 GEM乃為中小型公司提供一個上市的市場，此等公司較於聯交所上市的 其他公司帶有更高投資風險。有意投資者應了解投資於該等公司的潛在 風險，並應經過審慎周詳考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於聯 交所主板買賣的證券承受較大的市場波動風險，同時亦無法保證在GEM 買賣的證券會有高流通量的市場。 本公告乃遵照聯交所GEM證券上市規則（「GEM上市規則」）的規定而提供 有關雅居投資控股有限公司（「本公司」，連同其附屬公司統稱「本集團」或「我 們」）之資料。本公 ...

Financial Performance - For the nine months ended September 30, 2022, the group recorded unaudited revenue of approximately HKD 327.3 million, a decrease of about 7.7% compared to HKD 352.3 million for the same period in 2021[5] - The group's unaudited profit for the nine months ended September 30, 2022, was approximately HKD 14.4 million, compared to HKD 13.1 million for the same period in 2021, reflecting an increase of about 9.9%[5] - For the three months ended September 30, 2022, the group reported an unaudited profit of HKD 5.2 million, compared to HKD 6.8 million for the same period in 2021, indicating a decrease of about 23.4%[7] - The total comprehensive income for the nine months ended September 30, 2022, was HKD 14.0 million, compared to HKD 13.1 million for the same period in 2021[9] - Revenue from property management services decreased from approximately HKD 352.3 million for the nine months ended September 30, 2021, to approximately HKD 327.3 million, a decline of about 7.7%[37] Employee Expenses - Employee benefit expenses for the nine months ended September 30, 2022, were approximately HKD 298.4 million, a slight decrease of about 0.4% from HKD 299.6 million in the same period of 2021[5] - Employee benefits expenses for the nine months ended September 30, 2022, totaled HKD 298,370,000, slightly down from HKD 299,592,000 in the same period of 2021[20] - Employee benefit expenses decreased slightly from approximately HKD 299.6 million to approximately HKD 298.4 million due to the termination of two property management service contracts[38] Cost Management - The company reported a decrease in cleaning materials costs for the nine months ended September 30, 2022, amounting to HKD 1,630,000 compared to HKD 4,061,000 in the previous year, reflecting a reduction of 59.9%[27] - The company incurred subcontracting costs of HKD 638,000 for the nine months ended September 30, 2022, compared to HKD 18,132,000 in the same period of 2021, indicating a significant reduction[27] - The company implemented stricter cost control measures, resulting in a decrease in cleaning material costs from approximately HKD 4.6 million to approximately HKD 4.1 million[39] Strategic Focus - The group aims to strengthen operations through innovation and digitalization, indicating a strategic focus on technology advancement[3] - The group is committed to exploring market expansion opportunities and potential mergers and acquisitions as part of its growth strategy[3] - The company anticipates growth in the public housing property management services business alongside the development of the public housing market in Hong Kong[42] - The company aims to increase its market share following its listing and believes that opportunities will benefit its business[42] Shareholder Information - R5A Group Limited holds a significant stake of 491,440,000 shares, representing 61.43% of the company's issued share capital[54] - Ms. Yang Xiuyun owns 57,120,000 shares, accounting for 7.14% of the company's equity[54] Corporate Governance - The company has complied with all corporate governance codes as per GEM listing rules without any deviations[60] - The board of directors includes both executive and independent non-executive members, ensuring a diverse governance structure[67] - The company has not identified any conflicts of interest or competitive businesses involving its directors or major shareholders[59] Audit and Compliance - The audit committee has reviewed the unaudited condensed consolidated results and confirmed compliance with applicable accounting standards[66] - The company has not adopted any new accounting standards that would have a significant impact on the reported amounts for the current period[16] - The company has maintained its primary accounting policies consistent with those used in the preparation of the annual financial statements for the year ended December 31, 2021[16] Dividends - The company declared a final dividend of HKD 12,000,000 (HKD 0.015 per share) for the year ended December 31, 2021, and an interim dividend of HKD 6,000,000 (HKD 0.0075 per share) for the six months ended June 30, 2022[31] - The board did not recommend the payment of dividends for the period ended September 30, 2022[32] Taxation - The effective tax rate for the nine months ended September 30, 2022, was calculated at 16.5%, with deferred tax related to temporary differences amounting to HKD 1,549,000[28] Business Operations - The company operates a single business segment, providing property management services in Hong Kong, with no separate business segment analysis presented[17] - The financial data presented is unaudited and expressed in Hong Kong dollars (HKD), which is also the functional currency of the group[14]

Financial Performance - The group recorded unaudited revenue of approximately HKD 221.0 million for the six months ended June 30, 2022, a decrease of about 5.0% compared to HKD 232.6 million for the same period in 2021[10] - The unaudited profit for the six months ended June 30, 2022, was approximately HKD 9.2 million, an increase of about 48.4% from HKD 6.2 million for the same period in 2021[10] - Basic earnings per share for the six months ended June 30, 2022, were approximately HKD 1.15, compared to HKD 0.78 for the same period in 2021[10] - Operating profit for the six months ended June 30, 2022, was HKD 6.55 million, compared to HKD 9.97 million for the same period in 2021[11] - The company's profit for the six months ended June 30, 2022, was HKD 5,186, compared to HKD 9,213 for the same period in 2021, representing a decrease of approximately 43.5%[13] - Total comprehensive income for the six months ended June 30, 2022, was HKD 5,486, down from HKD 8,821 in the previous year, indicating a decline of about 37.5%[13] Dividends - The board declared an interim dividend of HKD 0.75 per share for the six months ended June 30, 2022, compared to no dividend for the same period in 2021[10] - The interim dividend declared for the six months ended June 30, 2022, was HKD 0.75 per share, compared to no dividend for the same period in 2021[72] - The interim dividend will be paid on or before September 30, 2022, to shareholders listed on the register as of September 9, 2022[131] Employee Benefits and Expenses - The group’s employee benefit expenses for the six months ended June 30, 2022, were approximately HKD 202.98 million, an increase from HKD 194.09 million in the same period of 2021[11] - Employee benefits expenses for the six months ended June 30, 2022, totaled HKD 202,984,000, an increase of 4.6% from HKD 194,091,000 in the same period of 2021[60] - Employee benefits expenses remained stable at approximately HKD 203.0 million for the six months ended June 30, 2022, compared to approximately HKD 194.1 million for the same period in 2021[96] Cash Flow and Financial Position - Cash and cash equivalents increased to HKD 76,758 as of June 30, 2022, compared to HKD 40,915 at the end of 2021, reflecting a growth of approximately 87.6%[16] - Cash flows from operating activities for the six months ended June 30, 2022, were HKD 30,850, compared to a cash outflow of HKD 1,564 for the same period in 2021[23] - The company reported cash flows from investing activities of HKD 30,281 for the six months ended June 30, 2022, compared to a cash outflow of HKD 1,964 in the previous year[23] - The company recorded a net cash increase of HKD 35,843 for the six months ended June 30, 2022, compared to a decrease of HKD 7,533 in the same period of 2021[23] - Cash and bank balances as of June 30, 2022, were approximately HKD 76.8 million, up from approximately HKD 40.9 million as of December 31, 2021[103] Assets and Liabilities - The group’s total assets as of June 30, 2022, were approximately HKD 1.5 billion, reflecting a stable financial position[10] - Total assets reached HKD 221,383 as of June 30, 2022, up from HKD 209,288 at the end of 2021, marking an increase of about 5.2%[16] - The total liabilities as of June 30, 2022, were HKD 67,827, an increase from HKD 64,553 at the end of 2021, indicating a rise of approximately 3.5%[16] - The total trade receivables as of June 30, 2022, amounted to HKD 75,639,000, a decrease of 18.52% from HKD 92,824,000 as of December 31, 2021[82] - The group’s total liabilities as of June 30, 2022, included performance guarantees totaling approximately HKD 90.2 million[110] Financial Management and Governance - The group’s financial risk management plan focuses on minimizing the potential adverse effects of financial market unpredictability on its financial performance[38] - The financial information in the report has not been audited, but the audit committee reviewed the unaudited consolidated results for the six months ended June 30, 2022, and found them compliant with applicable accounting standards[133] - The audit committee consists of independent non-executive directors, ensuring oversight of the financial reporting process[133] - The company has complied with all corporate governance codes as per GEM listing rules as of June 30, 2022[127] Shareholder Information - R5A Group Limited holds 491,440,000 shares, representing 61.43% of the company's issued share capital[116] - Major shareholders include Tan Mu Jie with 55.23%, Song Li Ming with 16.28%, He Zhu Ming with 13.96%, and Deng Jiang Fu with 12.79%[122] - Wu Fu Hua is the beneficial owner of 49,540,000 shares, accounting for 6.19% of the company's issued share capital[117] - The beneficial ownership structure indicates significant control by a small group of individuals, highlighting potential governance considerations[116] Other Financial Information - The group received HKD 800,000 in wage subsidies from the Anti-epidemic Fund during the six months ended June 30, 2022, compared to no such income in the same period of 2021[57] - The company reported a total income tax expense of HKD 711,000 for the six months ended June 30, 2022, compared to HKD 1,493,000 for the same period in 2021[70] - The company recorded a fair value loss of HKD 130,000 on financial assets measured at fair value through profit or loss for the period ended June 30, 2022[80] - The group has not adopted any new accounting standards that would have a significant impact on the reported amounts for the interim financial results[32] - The group operates a single segment providing property management services in Hong Kong, with no business segment analysis presented[31]

Financial Performance - For the three months ended March 31, 2022, the company's revenue was HKD 113,966,000, a decrease of 1.15% from HKD 115,290,000 in the same period of 2021[5] - The company reported a net profit of HKD 4,455,000 for the first quarter of 2022, compared to HKD 1,055,000 in the same period of 2021, representing a significant increase of 322.5%[5] - Operating profit for the first quarter of 2022 was HKD 4,868,000, up from HKD 992,000 in the same period of 2021, indicating a substantial improvement in operational efficiency[5] - The basic and diluted earnings per share for the first quarter of 2022 were HKD 0.56, compared to HKD 0.13 in the same period of 2021, reflecting a strong growth in profitability[5] - Total comprehensive income for the period was HKD 4,063,000, compared to HKD 755,000 in the first quarter of 2021, showing a notable increase in overall financial performance[5] Operational Costs - Employee benefit expenses increased to HKD 108,347,000 in the first quarter of 2022 from HKD 95,586,000 in the same period of 2021, indicating rising operational costs[5] - The cost of cleaning materials rose from approximately HKD 1.5 million in Q1 2021 to approximately HKD 1.6 million in Q1 2022, primarily due to the termination of cleaning service outsourcing arrangements[26] - Other operating expenses increased from approximately HKD 3.4 million in Q1 2021 to approximately HKD 3.5 million in Q1 2022, driven by higher insurance and maintenance costs[27] Shareholder Information - As of March 31, 2022, the major shareholders include R5A Group Limited, holding 491,440,000 shares, representing approximately 61.43% of the company's issued share capital[32] - Ms. Tan Mu Jie and Mr. Wu Fu Hua each control 538,710,000 shares, accounting for 67.34% of the company's equity[31] - Mr. Wu Fu Hua is the beneficial owner of 47,270,000 shares, which is about 5.91% of the company's issued share capital[32] - Ms. Tan Mu Jie holds a beneficial interest of 55.23% in R5A Group Limited, which is the registered owner of the aforementioned shares[32] - As of March 31, 2022, there are no other individuals known to hold 5% or more of the voting shares in the company[36] Corporate Governance - The company has complied with all corporate governance codes as per GEM Listing Rules Appendix 15 without any deviations as of March 31, 2022[40] - The audit committee has reviewed the unaudited consolidated results for the three months ended March 31, 2022, and confirmed compliance with applicable accounting standards and GEM Listing Rules[45] Business Strategy - The company continues to focus on property management services for public housing and subsidized housing in Hong Kong, maintaining its core business strategy[8] - The outlook for the property management services business is optimistic, with expected growth in line with the development of the public housing market in Hong Kong[29] Stock Options - The company has a stock option plan adopted on October 24, 2017, aimed at incentivizing eligible participants contributing to the group's success[37] - A total of 32,000,000 stock options were granted to employees at an exercise price of HKD 0.177 per share on June 17, 2019[38] - The stock options granted will vest in two tranches, with 50% vesting on June 17, 2020, and the remaining 50% on June 17, 2021[38] - The stock option plan is valid for ten years from the date of listing, with a symbolic acceptance fee of HKD 1.00 for each option granted[37] Dividend Policy - The company did not recommend the payment of dividends for the three months ended March 31, 2022, consistent with the previous year[20] Other Information - The company did not incur subcontracting costs in the first quarter of 2022, compared to HKD 13,171,000 in the same period of 2021, suggesting a shift in operational strategy[5] - The company manages 20 public housing estates and 3 Home Ownership Scheme estates in Hong Kong as of March 31, 2022[22] - The financial results were prepared in accordance with the Hong Kong Financial Reporting Standards, ensuring compliance and transparency in financial reporting[9]

Financial Performance - Total revenue for the year ended December 31, 2021, was approximately HKD 479.76 million, an increase of about 4.43% compared to HKD 459.42 million in 2020[9] - Operating profit for the same period was approximately HKD 30.21 million, representing a 36.14% increase from HKD 22.19 million in 2020[9] - Basic and diluted earnings per share for the year were HKD 0.0318, up from HKD 0.0243 in 2020[10] - The group's revenue increased by approximately 4.43% from about HKD 459.42 million for the year ended December 31, 2020, to about HKD 479.76 million for the year ended December 31, 2021[22] - The group's net profit attributable to owners increased from approximately HKD 19.44 million for the year ended December 31, 2020, to about HKD 25.46 million for the year ended December 31, 2021[39] - The total comprehensive income for the year ended December 31, 2021, was approximately HKD 23.89 million, compared to HKD 24.21 million for the year ended December 31, 2020[39] - Employee benefits expenses totaled approximately HKD 407.35 million for the year ended December 31, 2021, an increase of about 3.74% from HKD 392.67 million in 2020, accounting for approximately 84.91% of the group's revenue[26] - Other income decreased from approximately HKD 9.05 million for the year ended December 31, 2020, to about HKD 2.07 million for the year ended December 31, 2021, primarily due to a reduction in anti-epidemic subsidies received from the Hong Kong government[24] Dividends and Shareholder Returns - The board proposed a final dividend of HKD 0.015 per share, totaling HKD 12 million, consistent with the previous year[10] - The board proposed a final dividend of HKD 0.015 per share, totaling HKD 12.00 million for the year ended December 31, 2021, unchanged from 2020[40] - The company has adopted a dividend policy that balances shareholder interests with prudent capital management[156] - The company did not declare any special dividends during the reporting period, maintaining the same stance as in 2020[166] Business Operations and Strategy - The company manages 23 public housing estates and 3 Home Ownership Scheme estates as of December 31, 2021[9] - The company anticipates strong demand for public housing in Hong Kong, which is expected to drive growth in property management services[11] - The company plans to expand its property management portfolio by seizing opportunities from both public and private sectors in residential and/or commercial properties[12] - The company is committed to implementing proactive marketing strategies and enhancing cost control measures to navigate challenges in the property management sector[21] - The company remains confident in increasing its market share despite competitive pressures and rising costs due to minimum wage adjustments and inflation[11] Financial Position and Ratios - As of December 31, 2021, the current ratio was 3.20 times, slightly down from 3.27 times in 2020, mainly due to an increase in accrued wages and retirement benefits[48] - Cash and bank balances as of December 31, 2021, were approximately HKD 40.92 million, up from about HKD 29.79 million in 2020[48] - The debt-to-equity ratio decreased from approximately 4.93% as of December 31, 2020, to about 2.21% as of December 31, 2021, primarily due to a reduction in borrowings and lease liabilities[48] - The company reported a return on equity of 17.59% for the period, up from 14.65% in 2020[162] Corporate Governance - The company has adopted the corporate governance code as per GEM Listing Rules Appendix 15, ensuring compliance with all provisions as of December 31, 2021[91] - The Audit Committee held four meetings during the reporting period to review and approve the group's financial performance announcements and reports[102] - The company has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, to oversee specific aspects of the group's affairs[98] - The Remuneration Committee is responsible for recommending the overall remuneration policy for all directors and senior management[103] - The Nomination Committee evaluates the independence of independent non-executive directors and recommends suitable candidates for board membership[108] - The board structure is designed to enhance the efficiency of strategy formulation and implementation, with clear division of roles between the Chairman and the CEO[95] - The company is committed to maintaining high standards of corporate governance to support effective management and healthy corporate culture[91] - The Audit Committee consists of three independent non-executive directors, ensuring oversight of financial reporting processes and risk management[102] - The company has received annual confirmations from independent non-executive directors, affirming their independence as per GEM Listing Rules[97] - The board will continue to review corporate governance practices to align with tightening regulatory requirements and higher expectations[91] Risk Management - The company emphasizes the importance of risk management to mitigate operational and financial risks[175] - The financial risk management policies are detailed in the consolidated financial statements, addressing credit, interest rate, foreign exchange, and liquidity risks[175] - The risk management framework aims to identify and manage risks at an acceptable level, utilizing a three-tiered approach for risk assessment and mitigation[135] Employee and Operational Metrics - The group had a total of 2,264 employees as of December 31, 2021, down from 2,293 employees in 2020[60] - Employee benefit expenses for the year ended December 31, 2021, were approximately HKD 407.35 million, an increase from HKD 392.67 million in 2020[60] - The company did not enter into any foreign exchange hedging contracts as of December 31, 2021, and believes that foreign exchange risk has minimal impact on its operations[56] Future Outlook and Investments - The company provided a positive outlook for the next quarter, projecting a revenue growth of 25%[79] - New product launches are expected to contribute an additional $50 million in revenue over the next fiscal year[79] - The company is investing in new technology development, allocating $10 million for research and development initiatives[79] - Market expansion plans include entering two new regions, which are projected to increase market share by 10%[79] - The company is considering strategic acquisitions to enhance its service offerings, with a budget of $30 million earmarked for potential deals[79] - Operational efficiency improvements are expected to reduce costs by 5%, enhancing overall profitability[79] - The company aims to enhance customer engagement through new marketing strategies, targeting a 20% increase in customer retention rates[79] - The management team emphasized the importance of sustainability initiatives, planning to invest $5 million in green technologies[79] Shareholder Communication - The company has established multiple communication channels with shareholders and investors, including annual meetings and a dedicated website[149] - Shareholders can propose independent resolutions at general meetings to safeguard their rights and interests[142]

Financial Performance - For the nine months ended September 30, 2021, the company recorded unaudited revenue of approximately HKD 352.3 million, an increase of about 8% compared to HKD 326.3 million for the same period in 2020[5]. - The unaudited profit for the nine months ended September 30, 2021, was approximately HKD 13.1 million, down from HKD 16.4 million for the same period in 2020[5]. - For the three months ended September 30, 2021, the company reported revenue of HKD 119.7 million, compared to HKD 120.3 million for the same period in 2020[7]. - The operating profit for the nine months ended September 30, 2021, was HKD 15.9 million, a decrease from HKD 19.3 million in the same period of 2020[7]. - The basic and diluted earnings per share for the nine months ended September 30, 2021, were HKD 0.85, down from HKD 1.63 for the same period in 2020[7]. - The total comprehensive income for the nine months ended September 30, 2021, was HKD 16.1 million, compared to HKD 16.0 million for the same period in 2020[9]. - For the nine months ended September 30, 2021, property management service revenue was HKD 352,266 thousand, an increase of 7.9% compared to HKD 326,288 thousand for the same period in 2020[20]. - For the three months ended September 30, 2021, property management service revenue was HKD 119,679 thousand, slightly down from HKD 120,292 thousand in the same period of 2020, representing a decrease of 0.5%[20]. - The net profit for the nine months ended September 30, 2021, was approximately HKD 13.1 million, down from HKD 16.4 million in the same period of 2020, a decrease of 20.1%[45]. - The total tax expense for the nine months ended September 30, 2021, was HKD 3,104,000, slightly down from HKD 3,148,000 in 2020[33]. Employee Benefits and Expenses - Employee benefit expenses for the nine months ended September 30, 2021, were approximately HKD 299.6 million, up 8.7% from HKD 275.6 million in the same period of 2020[5]. - The total employee benefits expenses for the three months ended September 30, 2021, were HKD 105,501 thousand, compared to HKD 87,119 thousand for the same period in 2020[30]. - Employee benefits expenses increased from approximately HKD 275.6 million to approximately HKD 299.6 million, primarily due to annual salary increases[42]. - The group reported a decrease in subcontracting costs for cleaning services from HKD 7,131 thousand in 2020 to HKD 5,486 thousand in 2021 for the nine months ended September 30[30]. - Cleaning material costs decreased from approximately HKD 5.1 million to approximately HKD 4.6 million due to stricter cost control measures[43]. - Other operating expenses for the nine months ended September 30, 2021, were approximately HKD 11.3 million, down from HKD 12.0 million in 2020[44]. Corporate Governance and Compliance - The company has complied with all corporate governance codes as per GEM listing rules without any deviations[66]. - The audit committee has reviewed the unaudited condensed consolidated results and confirmed compliance with applicable accounting standards and GEM listing rules[72]. - The board of directors includes executive and independent non-executive members, ensuring a diverse governance structure[73]. - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period[70]. - No significant matters requiring disclosure have occurred after the reporting period[71]. Market Presence and Future Outlook - The company continues to provide property management services for public housing estates owned by the Hong Kong Housing Authority[11]. - The company is focused on expanding its market presence and enhancing its service offerings in the property management sector[11]. - The company expects growth in public housing property management services to continue alongside the development of the public housing market in Hong Kong[46]. Stock Options and Shareholding - The company has a stock option plan adopted on October 24, 2017, aimed at incentivizing eligible participants contributing to the group's success[63]. - A total of 32,000,000 stock options were granted to four employees at an exercise price of HKD 0.177 per share on June 17, 2019[64]. - As of September 30, 2021, R5A Group Limited holds 491,440,000 shares, representing approximately 61.43% of the company's equity[60]. - Ms. Yang Xiuyun owns 57,120,000 shares, accounting for 7.14% of the company's equity[60]. - The company maintains 800,000 ordinary shares for the calculation of basic earnings per share, unchanged from the previous year[35]. Accounting Standards - The group has adopted revised accounting standards effective from January 1, 2021, with no significant impact on performance and financial position[14]. - The group is evaluating the impact of new and revised accounting standards that will become effective in 2022 and 2023 on its operational performance and financial position[18]. - The group has not adopted any new or revised standards that have been issued but are not yet effective as of January 1, 2021[18].

Financial Performance - The group recorded unaudited revenue of approximately HKD 232.6 million for the six months ended June 30, 2021, representing an increase of about 12.9% compared to HKD 206.0 million for the same period in 2020[10] - The unaudited profit for the six months ended June 30, 2021, was approximately HKD 6.2 million, an increase of about 29.2% from HKD 4.8 million for the same period in 2020[10] - Basic earnings per share for the six months ended June 30, 2021, were approximately HKD 0.78, compared to HKD 0.60 for the same period in 2020[10] - Operating profit for the six months ended June 30, 2021, was HKD 6.55 million, compared to HKD 6.14 million for the same period in 2020[11] - Total comprehensive income for the period was HKD 5.49 million, compared to HKD 4.99 million for the same period in 2020[11] - The company reported a profit of HKD 6,241 million for the six months ended June 30, 2021, up from HKD 4,775 million in the previous period[16] - The company’s total comprehensive income for the period was HKD 4,475 million[16] Dividends and Shareholder Returns - The board resolved not to declare an interim dividend for the six months ended June 30, 2021, consistent with the decision for the same period in 2020[10] - The board did not recommend the payment of an interim dividend for the six months ended June 30, 2021, compared to no dividend for the same period in 2020[71] Assets and Liabilities - The company’s total assets as of June 30, 2021, were reported in the unaudited consolidated financial position statement[13] - Total assets as of June 30, 2021, were HKD 190,339 million, a decrease from HKD 175,580 million as of December 31, 2020[14] - The company's equity attributable to owners increased to HKD 139,273 million from HKD 132,678 million[14] - Total liabilities decreased to HKD 57,661 million from HKD 36,307 million[14] - The company's asset-liability ratio as of June 30, 2021, was approximately 3.34%, compared to 4.93% as of December 31, 2020[98] Cash Flow and Financial Position - Cash and bank balances decreased to HKD 22,256 million from HKD 29,789 million[19] - The net cash flow from operating activities was a negative HKD 1,964 million for the six months ended June 30, 2021, compared to HKD 8,438 million for the same period in 2020[19] - As of June 30, 2021, the group's cash and bank balances were approximately HKD 22.3 million, down from approximately HKD 29.8 million as of December 31, 2020[99] - Current assets as of June 30, 2021, were approximately HKD 165.2 million, compared to approximately HKD 179.4 million as of December 31, 2020[99] - The current ratio increased from approximately 3.27 as of December 31, 2020, to approximately 4.94 as of June 30, 2021[99] Employee Expenses - Employee benefit expenses for the six months ended June 30, 2021, were HKD 98.5 million, compared to HKD 105.8 million for the same period in 2020[11] - Total employee benefits expenses for the six months ended June 30, 2021, were HKD 194,091,000, an increase from HKD 188,456,000 in the same period of 2020[61] - The group had a total of 2,268 employees as of June 30, 2021[107] Business Operations - The company is currently operating a single business segment, providing property management services in Hong Kong[42] - The company anticipates growth in the public housing property management services business alongside the development of the public housing market in Hong Kong[90] - The company plans to continue increasing its market share in the property management sector, leveraging opportunities from new service contracts[90] Financial Risks and Management - The company faces various financial risks, including credit risk, interest rate risk, foreign exchange risk, and liquidity risk, with a focus on minimizing potential adverse impacts on financial performance[45] - The company applies a simplified approach to recognize expected credit losses for trade receivables and contract assets from the initial recognition of the asset[39] - The company has not used financial derivatives to hedge its financial risks[45] Corporate Governance - The company has complied with all corporate governance codes as per GEM listing rules without any deviations[123] - The audit committee reviewed the unaudited condensed consolidated results for the six months ended June 30, 2021, ensuring compliance with applicable accounting standards[128] Share Capital and Options - R5A Group Limited holds 491,440,000 shares, representing 61.43% of the company's issued share capital[118] - Ms. Yang Xiuyun owns 57,120,000 shares, accounting for 7.14% of the company's equity[118] - The company has adopted a share option scheme to incentivize eligible participants, effective for ten years from the listing date[120] - A total of 32,000,000 share options were granted to four employees at an exercise price of HKD 0.177 per share[121]

Financial Performance - The company reported revenue of HKD 115,290,000 for the three months ended March 31, 2021, representing an increase of 32.5% compared to HKD 86,981,000 in the same period of 2020[6]. - The operating profit for the period was HKD 1,086,000, compared to a loss of HKD (31,000) in the previous year, indicating a significant turnaround[6]. - The net profit for the period was HKD 1,055,000, marking a recovery from the previous year's loss[6]. - The total comprehensive income for the period amounted to HKD 755,000, compared to a loss in the previous year[6]. - The company’s basic and diluted earnings per share were HKD 0.13 for the period[6]. - Revenue from property management services rose from approximately HKD 87.0 million in 2020 to about HKD 115.3 million in 2021, marking an increase of 32.4%[35]. - The net profit for the period was approximately HKD 1.1 million in 2021, compared to a net loss of about HKD 0.3 million in 2020, indicating a significant turnaround[39]. Employee Expenses - Employee benefits expenses increased to HKD (95,586,000) from HKD (82,679,000), reflecting a rise of approximately 15.4% year-over-year[6]. - Employee benefits expenses increased from approximately HKD 82.7 million in 2020 to about HKD 95.6 million in 2021, representing a growth of 15.0%[36]. - The total employee benefits expenses included salaries, pensions, and share-based payments, with significant contributions from new contracts awarded in 2020[36]. Equity and Shareholding - The total equity as of March 31, 2021, was HKD 133,610,000, an increase from HKD 111,399,000 at the end of the previous year[7]. - R5A Group Limited holds 491,440,000 shares, representing approximately 61.43% of the company's issued share capital[49]. - Major shareholders include Tan Hui Jie with 55.23%, Song Li Ming with 16.28%, He Zhu Ming with 13.96%, and Deng Jiang Fu with 12.79%[50]. - Wu Fu Hua is the beneficial owner of 41,850,000 shares, accounting for about 5.23% of the company's issued share capital[45]. - As of March 31, 2021, no other directors or key executives were known to have any other interests or short positions in the company's shares[53]. Corporate Governance - The company has complied with all corporate governance codes as per GEM listing rules without any deviations[58]. - There were no known conflicts of interest involving directors or major shareholders as of March 31, 2021[57]. - The company has confirmed that no violations of the standard code of conduct occurred among directors during the reporting period[59]. - The audit committee consists of independent non-executive directors, ensuring governance and oversight of the financial reporting process[64]. Operational Developments - The company has not reported any new product developments or market expansions during this period[6]. - There were no significant mergers or acquisitions reported in the current financial period[6]. - The company has outsourced security and cleaning services for two managed estates since July 2020, impacting related expenses[21]. - The cost of cleaning materials decreased from approximately HKD 1.7 million in 2020 to about HKD 1.5 million in 2021, a reduction of 11.8%[37]. - Other operating expenses increased from approximately HKD 2.8 million in 2020 to about HKD 3.4 million in 2021, reflecting a rise of 21.4%[38]. Tax and Dividends - The deferred tax expense related to temporary differences was HKD 31,000 in 2021, compared to a credit of HKD 63,000 in 2020[27]. - The company does not propose any dividend for the period ending March 31, 2021, consistent with the previous year[32]. Audit and Reporting - The financial data for the three months ending March 31, 2021, has not been audited by the company's auditors[64]. - The audit committee has reviewed the unaudited consolidated results and believes they comply with applicable accounting standards and GEM listing rules[64]. - The report will be published on the GEM website and the company's website for at least seven days from the publication date[66].

雅 居 投 資 控 股 有 限 公 司 Modern Living Investments Holdings Limited (於開曼群島註冊成立的有限公司） 股份代號：8426 2020 年報 l 元 香港聯合交易所有限公司(「聯交所」) GEM 之特色 GEM 乃為中小型公司提供一個上市的市場・此等公司較於聯交所上市的其他公司帶有更高投資風險。有意投資者應 了解投資於該等公司的潛在風險,並應經過審慎周詳考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM 買賣的證券可能會較於聯交所主板買賣的證券承受較大的市場波動風 險,同時亦無法保證在GEM 買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本年報之內容概不負責·對其準確性或完整性亦不發表任何聲明·並明確表示 概不就因本年報全部或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 本年報乃遵照聯交所GEM證券上市規則(「GEM 上市規則」的規定而提供有關雅居投資控股有限公司(「本公司」· 連 同其附屬公司統稱「本集團」或「我們」之資料。本公司之董事（蘆事）願就本報告所載資料共同及個別承擔全部責任。 董事在作出 ...

Financial Performance - For the nine months ended September 30, 2020, the group recorded unaudited revenue of approximately HKD 326.3 million, an increase of about 4.0% compared to HKD 313.6 million for the same period in 2019[5]. - The unaudited profit for the nine months ended September 30, 2020, was approximately HKD 16.4 million, compared to HKD 5.2 million for the same period in 2019[5]. - The total comprehensive income for the nine months ended September 30, 2020, was approximately HKD 16.1 million, compared to HKD 4.9 million for the same period in 2019[11]. - Basic and diluted earnings per share for the nine months ended September 30, 2020, were HKD 0.13, compared to HKD 2.05 for the same period in 2019[8]. - The operating profit for the three months ended September 30, 2020, was HKD 14.1 million, while the profit before tax was HKD 13.8 million[8]. - Profit for the period increased from approximately HKD 5.2 million to about HKD 16.4 million, a growth of 215.4% driven by higher profit margins from new property management contracts and government subsidies[37]. Employee Expenses - Employee benefit expenses for the nine months ended September 30, 2020, were approximately HKD 275.6 million, a decrease of about 3.6% from HKD 285.9 million in the same period of 2019[5]. - The total employee benefits expenses for the nine months ended September 30 amounted to HKD 263.8 million, slightly down from HKD 273.5 million in the previous year[22]. - Employee benefits expenses decreased from approximately HKD 285.9 million to about HKD 275.6 million, a reduction of 4.3% due to outsourcing cleaning and security services and government subsidies[34]. Revenue Sources - Revenue from property management services increased from approximately HKD 313.6 million to about HKD 326.3 million for the nine months ended September 30, representing a growth of approximately 4.0% compared to the same period in 2019[32]. - The unaudited revenue for the three months ended September 30 was HKD 120.3 million, compared to HKD 108.1 million for the same period last year[21]. Cost Management - The company has implemented stricter cost control measures across various operational expenses[36]. - Other operating expenses decreased from approximately HKD 14.5 million to about HKD 12.0 million, a reduction of 17.2% mainly due to lower compliance costs and stricter cost control measures[36]. - Cleaning materials costs slightly decreased from approximately HKD 5.5 million to about HKD 5.1 million, a reduction of 7.3% attributed to the outsourcing of services[35]. Corporate Governance - The company is committed to maintaining transparency and accuracy in its financial reporting, ensuring all material aspects are disclosed[2]. - The company has adhered to all corporate governance codes as per GEM listing rules without any deviations during the reporting period[60]. - The audit committee has reviewed the unaudited condensed consolidated results and confirmed compliance with applicable accounting standards and GEM listing rules[66]. - The board of directors includes executive and independent non-executive members, ensuring a diverse governance structure[67]. Market Outlook - The company is optimistic about expanding its market share in the public housing property management sector as the market develops[44]. - The company expects growth in public housing property management services to align with the development of the public housing market in Hong Kong[44]. - The company anticipates that the COVID-19 pandemic will not have a significant adverse impact on its business operations[31]. Shareholder Information - R5A Group Limited holds 491,440,000 shares, representing 61.43% of the company's issued share capital[55]. - Major shareholders include R5A Group Limited, with individual ownership percentages of 55.23%, 16.28%, 13.96%, 12.79%, 1.16%, and 0.58%[55]. Other Information - The financial statements were prepared in accordance with the Hong Kong Financial Reporting Standards and GEM Listing Rules[14]. - The company has adopted new and revised Hong Kong Financial Reporting Standards, but these did not have a significant impact on the reported amounts[20]. - The estimated tax rate for Hong Kong profits tax is 16.5%, with the first HKD 2,000,000 of taxable profits for qualifying entities taxed at 8.25%[28]. - The company did not recommend the payment of an interim dividend during the reporting period[30]. - The existing property management portfolio includes 28 public housing estates owned by the Housing Authority and 4 Home Ownership Scheme estates[31]. - The company has a stock option plan adopted on October 24, 2017, which is valid for 10 years, aimed at incentivizing eligible participants contributing to the group's success[58]. - On June 17, 2019, the company granted 32,000,000 stock options at an exercise price of HKD 0.177 per share, with a total of 32,000,000 options remaining unexercised as of the report date[58]. - The company has not granted, agreed to grant, exercised, canceled, or allowed any stock options to expire during the reporting period[58]. - There were no known conflicts of interest involving directors, controlling shareholders, or their close associates during the reporting period[59]. - No significant events requiring disclosure occurred after the reporting period[65]. - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period[64].