2023-09-26-港交所-中奥到家_2023_中期报告_66页_6mb

Corporate Information

• Company Name: Zhong Ao Home Group Limited (中奧到家集團有限公司)
• Stock Code: 1538 (Hong Kong Stock Exchange)
• Core Business: Property management, sales assistance, cleaning and greening services, real estate consulting, engineering services, catering services, etc.
• Subsidiaries: Primarily engaged in property management services across 45 Chinese cities.

Highlights (As at 30 June 2023)

• Revenue: RMB 856,517,000 (up 4.3% from 2022)
• Gross Profit: RMB 185,661,000 (down 5.0% from 2022)
• Net Profit Attributable to Owners: RMB 53,608,000 (down 19.2% from 2022)
• Gross Profit Margin: 21.7% (down 2.1 percentage points from 2022)
• Net Profit Margin: 6.3% (down 1.8 percentage points from 2022)

Management Discussion & Analysis

• Revenue Growth: Driven by residential property management (RMB 652.3 million in 2023 vs. 642.3 million in 2022).
• Challenges: Sales assistance revenue declined due to macroeconomic conditions and real estate market downturn.
• Cost Management: Cost of sales and services increased, aligning with revenue growth.
• Future Plans: Focus on organic growth, joint venture acquisitions, and expanding market presence in key Chinese cities.

Corporate Governance

• Board Structure:
  • Executive Directors: Liu Jian (Chairman & CEO), Chen Zhuo, Liang Bing, Long Weim in.
  • Non-Executive Directors: Wu Zhihua, Xu Yaping.
  • Independent Non-Executive Directors: Chan Wai Cheung, Chan Ka Leung, Huang Anxin, Yin Weizhong.
• Committees: Audit, Remuneration, and Nomination Committees.

Financial Ratios & Liquidity

• Gearing Ratio: Negative, indicating strong cash position.
• Current Ratio: 1.4x (unchanged from previous year).
• Net Working Capital: RMB 363.6 million (up 33.4 million from 2022).

Sustainability Note

• The Group is committed to UN Sustainable Development Goals (SDGs) and ESG principles, recognized with excellence awards.

Key Disclosures

• Disclosures align with HKFRS, effective since 2023. No material events post-interim report.
• Debt primarily denominated in RMB, interest rates fixed.