Company Overview - As of December 31, 2020, Central China New Life Limited managed a total Gross Floor Area (GFA) covering all 18 prefecture-level cities in Henan and served over 1.5 million property owners and residents across 427 properties[8]. - Central China New Life Limited was incorporated on October 16, 2018, and listed on the Main Board of The Stock Exchange of Hong Kong Limited on May 15, 2020[6]. - The company has established a strong brand reputation over more than two decades, which supports its growth and service offerings[7]. - The company operates in a competitive market, emphasizing its extensive network and cross-selling capabilities to deliver tailored services[9]. - The company has a significant presence in various provinces, including Henan, Hubei, Hunan, Jiangxi, Shanxi, and Anhui, making it the largest property management service provider in central China by total GFA[7]. Financial Performance - In 2020, the company's revenue reached RMB 2,654.5 million, a 51.3% increase from RMB 1,754.4 million in 2019[106]. - Net profit for 2020 was RMB 440.7 million, representing a 93.5% increase compared to RMB 227.8 million in 2019[110]. - Total cash, including cash equivalents and restricted bank deposits, increased by 279.2% to RMB 2,218.8 million in 2020 from RMB 585.1 million in 2019[108]. - Total assets grew by 190.4% to RMB 4,250.0 million in 2020, up from RMB 1,463.4 million in 2019[108]. - The company's total equity increased by 612.0% to RMB 2,717.4 million in 2020, compared to RMB 381.6 million in 2019[108]. Growth and Expansion - The total GFA under management reached approximately 100 million sq.m., an increase of 75.5% from 57 million sq.m. in 2019[44]. - The contracted GFA of the Company's property management services reached approximately 187 million sq.m., representing a 62.7% increase from 115 million sq.m. in 2019[44]. - The company plans to manage 12 cultural tourism complexes, 19 shopping malls, and 6 hotels as part of its future management service plan[54]. - The company aims to expand its service scope and user base through the development of the "Jianye+" platform[64]. - The company plans to continue expanding its property management services and improve operational efficiency through digital reforms[94]. Service Offerings - Central China New Life Limited aims to enhance customer experience by offering a wide range of lifestyle services and leveraging data analytics to understand market demands[9]. - The company focuses on expanding its service portfolio to meet diverse customer needs, including residential, commercial, and urban services[8]. - The "Jianye+" platform has been a key driver in enhancing customer satisfaction and service offerings[40]. - The company has upgraded its service offerings from basic property services to value-added services and customized solutions[39]. - The lifestyle services segment includes travel services and management services provided in Cuisine Henan Foodcourts, which hosted over 453 vendors as of 31 December 2020[114][115]. Market Recognition - The company was ranked 12th among the Top 100 Property Service Enterprises in the PRC in 2020, up from 13th in 2019[8]. - Central China New Life was awarded "Leading Property Service Enterprises in Henan in terms of Service Quality" and ranked 9th nationwide for diversified operation in 2020[28]. - The company was recognized as "Most Promising IPO of the Year" at the "2020 Best Listed Companies in Greater China" ceremony[35]. - The company achieved full coverage of 122 cities above county level in Henan by 2019, demonstrating its extensive regional influence[81]. Technology and Innovation - The company focuses on technology empowerment to reduce costs and enhance efficiency, improving service quality and labor cost management[57]. - The "Jianye+" platform had a total of 3,670,000 registered users, with 1,490,000 new users added in 2020, reflecting a year-on-year increase of 30.3%[48]. - The company aims to enhance management efficiency through digital reform, focusing on cost reduction and efficiency enhancement measures[92]. - The Group plans to increase investment in intelligent properties to reduce costs and improve efficiency[183]. Corporate Governance - The roles of chairman and CEO are held by Mr. Wang Jun to ensure consistent leadership and effective strategy execution[188]. - The Board consists of two executive Directors and five non-executive Directors, with three being independent, ensuring a balanced composition of skills and experience[193]. - The independent non-executive Directors provide sufficient checks and balances to safeguard the interests of the Group and its Shareholders[198]. - The Company has complied with all corporate governance code provisions and mandatory disclosure requirements up to December 31, 2020[185]. Employee and Talent Management - The Group emphasizes employee training and career development to retain talent for key positions[179]. - The overall remuneration system will be regularly adjusted to ensure competitiveness and internal equity[178]. - As of December 31, 2020, the Group had 5,413 full-time employees, primarily located in Henan province[176].

Company Overview - As of June 30, 2020, the company managed a total of 341 properties, serving over 1.2 million property owners and residents[7]. - The company ranked 12th among the Top 100 Property Management Companies in China in 2020[7]. - The company covers all 18 prefecture-level cities in Henan and has expanded services to Haikou, Hainan, and Korla, Bayingol, Xinjiang[7]. - The company reported a significant growth in business operations over more than two decades, establishing a trusted brand in the property management sector[6]. - The company offers a diversified portfolio of properties, including residential, commercial, and governmental properties[7]. - The company is the largest property management service provider in central China by total GFA under management as of December 31, 2019[6]. Customer Engagement and Technology - The company focuses on enhancing customer experience through a wide range of goods and services tailored to market demands[8]. - The company has a strong capability in data analytics, allowing for better understanding and catering to customer needs[8]. - The company has 2.8 million users on the "Jianye+" platform, enhancing customer engagement and service delivery[21]. - The "Jianye+" platform integrates Internet and IoT technologies to streamline services and improve user experience[26]. - Intelligent property technology is utilized to improve service quality and reduce labor costs, enhancing overall efficiency[25]. Financial Performance - Central China New Life achieved a half-year revenue of RMB1,061.2 million, an increase of approximately 56.1% from RMB680.0 million in the same period in 2019[34][42]. - Net profit for the period reached RMB189.0 million, representing an increase of more than 91.6% from RMB98.6 million in the same period in 2019[34][42]. - The gross profit margin slightly decreased to 34.6% from 35.6% in the previous year[42]. - Total cash increased significantly by 370.6% to RMB2,753.3 million from RMB585.1 million as of December 31, 2019[44]. - Total assets reached RMB3,863.6 million, a 164.0% increase from RMB1,463.4 million at the end of 2019[44]. Strategic Initiatives - The company aims to continuously refine its offerings to better satisfy customer needs through resource consolidation and cross-selling capabilities[8]. - Future strategies will focus on leading customer needs and enhancing service innovation to create a better lifestyle for residents in Central China[39][40]. - The Group plans to strengthen property development efforts and focus on mergers and acquisitions in the second half of the year[58]. - Increased investment in intelligent properties is a key strategy to reduce costs and enhance efficiency moving forward[59]. Share Capital and Governance - As of June 30, 2020, the company had a total of 1,245,000,000 shares issued[104]. - The company granted two batches of share options totaling 45,000,000 shares under the Pre-IPO Share Option Scheme, which represents approximately 3.61% of the issued share capital as of June 30, 2020[109]. - The roles of chairman and chief executive officer are held by Mr. Wang Jun, which the board believes ensures consistency and effective leadership[128]. - The company has complied with all code provisions of the Corporate Governance Code from the Listing Date to June 30, 2020, except for code provision A.2.1[128]. Employee and Operational Insights - The Group had over 4,600 full-time employees as of June 30, 2020, primarily located in Henan province[100]. - The Company has implemented a performance-oriented remuneration and incentive system to enhance employee motivation and retention[100]. - Employee benefit expenses increased to RMB 312,551 thousand, up 47.9% from RMB 211,297 thousand in 2019[171]. Taxation and Financial Position - The general corporate income tax rate in Mainland China is 25%, while three subsidiaries qualified as "High and New Technology Enterprises" enjoy a preferential rate of 15% for three years[175]. - Income tax expenses for the six months ended June 30, 2020, included RMB 50,114,000 for current PRC corporate income tax and RMB 4,000,000 for PRC withholding income tax[178]. - The effective withholding income tax rate for dividends distributed from PRC profits to foreign investors is generally 10%, with a reduced rate of 5% applicable under certain conditions[176]. Segment Performance - The Group operates three reportable segments: Property management and value-added services, Lifestyle services, and Commercial property management and consultation services[144]. - Gross segment revenue for the period reached RMB 1,061,186 thousand, with contributions of RMB 843,778 thousand from one segment, RMB 172,801 thousand from another, and RMB 44,607 thousand from the third segment[146]. - Revenue from property management and related services reached RMB 463,356 thousand, up 45.7% from RMB 317,825 thousand in 2019[157].