雅居投资控股(08426) - 2025 - 中期业绩

Announcement Information and Declarations 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] Company Information and GEM Characteristics 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][3] - The GEM market is positioned for small and medium-sized companies, with higher investment risks, greater market volatility, and no guarantee of liquidity[2] - The company's directors assume full responsibility for the accuracy, completeness, and non-misleading nature of the announcement information[3] 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 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 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 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 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 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 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][16] - The Group primarily provides property management services in Hong Kong, focusing on public housing and R&D[15] - The company's ultimate holding company is GT Winners Limited[15] Basis of Preparation 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] - Key accounting policies are consistent with the 2024 annual financial statements, and newly adopted revised standards have no significant impact[18] Segment Information 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] 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] Financial Risk Management 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] Financial Risk Factors 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] Liquidity Risk 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] Fair Value of Financial Assets and Liabilities 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][27] Revenue (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] Other Income 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 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) 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 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 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] Income Tax Expense 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] 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] - An interim dividend of HK$0.56 cents per share for H1 2025 was declared, representing a 60% year-on-year decrease[33] Earnings Per Share 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] Property, Plant and Equipment 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$190 thousand in the prior year period[35] Leases Right-of-use assets and lease liabilities both decreased as of June 30, 2025 Lease Assets and Liabilities (As of June 30, 2025) | Metric | June 30, 2025 (HK$ 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 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] - Changes in investment value are recognized in 'Other gains/(losses) – net'[37] Trade Receivables and Contract Assets Total trade receivables increased to HK$79.00 million, mainly from 31-90 day aged receivables, with a 30-60 day credit period - The credit period for trade receivables generally ranges from 30 to 60 days[38] Ageing Analysis of Trade Receivables and Contract Assets (As of June 30, 2025) | Item | June 30, 2025 (HK$ 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 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] Bank Facilities 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] Share Capital 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) The Group had no significant capital commitments as of June 30, 2025, and December 31, 2024 - The Group has no significant capital commitments[43] Comparative Figures 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] Events After the Reporting Period 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] Management Discussion and Analysis Business Review 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] - 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] - 10 new contracts were signed during the review period, some already commenced, with the remainder to start service in H2 2025[46] - 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][48] Financial Review Revenue grew from new contracts, but profit declined due to increased employee benefit and cleaning costs, despite lower other operating expenses Revenue (Financial Review) 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] Employee Benefit Expenses (Financial Review) 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] Cleaning Material Costs 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] Other Operating Expenses 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] Profit for the Period Profit for the period declined 4.77% to HK$8.71 million, impacted by lower other income and higher employee benefit expenses - Profit for the period decreased by 4.77%, impacted primarily by reduced other income and increased employee benefit expenses[53] Liquidity and Financial Resources The Group funds operations via income and financing, with gearing improving to 0.61% despite decreased current assets and cash - The Group primarily funds its operations through operating income and financing activities[54] Liquidity and Financial Resources Overview | Metric | June 30, 2025 (HK$ 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 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] Significant Acquisitions or Disposals 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] Future Material Investments and Capital Asset Plans 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] Exchange Rate Fluctuation Risk 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] - No hedging instruments or contracts were entered into during the reporting period[59] Material Investments 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) The Group had no material unprovided capital commitments as of June 30, 2025 - The Group has no material unprovided capital commitments[61] Contingent Liabilities 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] - 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] Interim Dividend 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] Employees and Remuneration Policy The Group had 1,304 employees with HK$179.22 million in benefit expenses, using performance-based bonuses to attract and retain talent - As of June 30, 2025, the Group had 1,304 employees[64] Employee Benefit Expenses | Period | Amount (HK$ 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] Prospects and Outlook 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] - Future plans include consolidating market leadership, deepening cooperation with government and industry, integrating into smart city development, and applying smart estate management concepts[65] - The goal is to continuously enhance service efficiency and quality, creating long-term value and sustainable growth prospects for investors and the community[65] Other Information Disclosure of Interests 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 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][71] - 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] Substantial Shareholders' Interests and Short Positions in Shares, Underlying Shares and Debentures of the Company and its Associated Corporations 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] - Mr. Pang Yat Ting and Ms. Li Wai Han each own 45% of GT Winners, and are thus deemed to have relevant interests[71] Share Option Scheme 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] - 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] - 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] - 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] Competing Interests 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] - The controlling shareholders entered into a non-competition deed on October 24, 2017[75] Corporate Governance Code 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] Directors' Securities Transactions 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] - The company requires employees or directors/employees of subsidiaries who may possess inside information to adhere to the same trading restrictions[77] Interim Dividend and Closure of Register of Members 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] - To qualify for the interim dividend, the register of members will be closed from September 11 to September 15, 2025[79] Purchase, Sale or Redemption of the Company's Listed Securities 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] Review by Audit Committee 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] - The Audit Committee has reviewed the financial information and considers it to comply with applicable accounting standards and the GEM Listing Rules[81] Board of Directors 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] Publication of Announcement 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]