HK Bourse: Announcement From Colour Life Services Group Co. Ltd.


 
    Following is the related link: 
http://www.hkexnews.hk/listedco/listconews/sehk/2016/0810/LTN20160810938.pdf 
 
 
 
         ANNOUNCEMENT OF UNAUDITED INTERIM RESULTS 
            FOR THE SIX MONTHS ENDED 30 JUNE 2016 
 
 HIGHLIGHTS 
 
 -- The Group's revenue for the Period increased by 106.8% to approximately RMB575.1 
   million from RMB278.1 million for the same period in 2015. 
 
 -- The Group's gross profit for the Period increased by 23.9% to approximately 
   RMB254.7 million from RMB205.5 million for the same period in 2015. Gross profit 
   margin decreased by 29.6 percentage points from 73.9% for the same period in 2015 
   to 44.3%. The fluctuation is attributable to the service fees are charged with a larger 
   proportion in terms of GFA being under lump sum basis compared to the 
   corresponding period in 2015. 
 
 -- The Group's profit for the Period increased by 1.1% to approximately RMB85.0 
   million from RMB84.1 million for the same period in 2015, while the adjusted profit 
   increased by 18.6% from RMB139.3 million to approximately RMB165.2 million. 
 
 -- During the Period, community leasing, sales and other services contributed 31.9% of 
   the aggregate segment profit, which was 10.2 percentage points more than that for the 
   same period in 2015, the highest proportion among corresponding periods in three 
   years. This reflects an obvious transformation of the Group's business structure. 
 
 -- For the Period, net cash generated from operating activities increased by RMB173.3 
   million to RMB104.2 million. 
 
 -- As at 30 June 2016, the Group's total bank balances and cash was approximately 
   RMB353.1 million (31 December 2015: approximately RMB419.5 million), 
   representing a decrease of 15.8% as compared to that as at 31 December 2015. 
 
 -- As at 30 June 2016, the Group's contracted GFA increased by 38.0 million sq.m. to 
   360.1 million sq.m from 322.1 million sq.m. as at 31 December 2015. 
 
                                                -1- 
 
The board (the "Board") of directors (the "Directors") of Colour Life Services Group Co., 
Limited  (the "Company" or "Colour Life") announces the 
unaudited financial results of the Company and its subsidiaries (collectively, the "Group") for 
the six months ended 30 June 2016 (the "Period") as follows: 
 
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER 
COMPREHENSIVE INCOME 
FOR THE SIX MONTHS ENDED 30 JUNE 2016 
 
                                                                Six months ended 30 June 
                                                                      2016            2015 
                                                                   RMB'000 
                                                    NOTES                         RMB'000 
                                                                (Unaudited)     (Unaudited) 
 
                                                                     575,143 
Revenue                                                                               278,140 
                                                       3 
                                                                    (320,457) 
Cost of sales and services                                                            (72,592) 
 
                                                                     254,686 
Gross profit                                                                          205,548 
                                                                     (17,860) 
Other gains and losses                                                                (26,479) 
                                                                       8,378 
Other income                                                                            3,871 
                                                                      (2,303) 
Selling and distribution expenses                                                      (5,532) 
                                                                    (144,186) 
Administrative expenses                                                               (78,660) 
Expenses recharged to residential communities 
                                                                      33,088 
  under commission basis                                                                21,611 
                                                                     (11,211) 
Finance costs                                                                           (6,765) 
                                                                       4,378 
Change in fair value of investment properties                                            2,099 
                                                                         338 
Share of results of associates                                                             319 
                                                                         203 
Share of result of a joint venture                                                         374 
 
                                                                     125,511 
Profit before tax                                                                     116,386 
                                                       3 
 
                                                                     (40,492) 
Income tax expense                                                                     (32,237) 
                                                       4 
 
                                                                      85,019 
Profit for the period                                                                   84,149 
 
Other comprehensive income (expense) 
 
Items that may be reclassified subsequently to 
   profit or loss: 
   Change in fair value of available-for-sale 
                                                                      79,397 
     investment                                                                              - 
   Deferred taxation effect on change in 
                                                                     (19,849) 
     fair value of available-for-sale investment                                             - 
 
Other comprehensive income for the period, 
                                                                      59,548 
  net of income tax                                                                          - 
 
Profit and total comprehensive income for the 
                                                                     144,567 
  period                                                                                84,149 
 
 
 
                                             -2- 
 
 
 
 
 
 Stock Market Quotes, Business News, Financial News from http://commodity-market-news.com

 
 
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER 
COMPREHENSIVE INCOME 
FOR THE SIX MONTHS ENDED 30 JUNE 2016 
 
                                                       Six months ended 30 June 
                                                             2016            2015 
                                                          RMB'000 
                                               NOTES                     RMB'000 
                                                       (Unaudited)     (Unaudited) 
 
Profit for the period attributable to: 
                                                            73,467 
  Owners of the Company                                                     77,578 
                                                            11,552 
  Non-controlling interests                                                  6,571 
 
                                                            85,019          84,149 
 
Profit and total comprehensive income 
  attributable to: 
                                                           133,015 
  Owners of the Company                                                     77,578 
                                                            11,552 
  Non-controlling interests                                                  6,571 
 
                                                           144,567          84,149 
 
Earnings per share (RMB cents)                   7 
                                                              7.35 
  -- Basic                                                                     7.76 
 
                                                              7.35 
  -- Diluted                                                                   7.74 
 
 
 
 
                                         -3- 
 
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION 
AT 30 JUNE 2016 
 
                                                                30 June   31 December 
                                                                   2016          2015 
                                                              RMB'000 
                                                    NOTES                    RMB'000 
                                                            (Unaudited)      (Audited) 
 
Non-current Assets 
                                                                175,517 
Property, plant and equipment                                                 167,099 
                                                                 94,049 
Investment properties                                                          88,804 
                                                                  6,670 
Interests in associates                                                         6,332 
                                                                  1,311 
Interest in a joint venture                                                     1,108 
                                                                129,397 
Available-for-sale investment                                                       - 
                                                                184,423 
Intangible assets                                                             152,033 
                                                                648,446 
Goodwill                                                                      575,634 
                                                                  8,990 
Trade receivables                                                               7,199 
                                                      8 
                                                                  6,681 
Other receivables and prepayments                                               5,964 
                                                      9 
                                                                 23,722 
Deferred tax assets                                                            19,722 
                                                                     78 
Amount due from a director                                                          - 
Deposits paid for potential acquisitions of 
                                                                142,035 
  subsidiaries                                                                106,736 
 
                                                              1,421,319      1,130,631 
 
Current Assets 
                                                                  3,033 
Inventories                                                                     2,106 
                                                                 34,769 
Amounts due from customers for contract works                                  34,328 
                                                                254,622 
Trade receivables                                                             179,350 
                                                      8 
                                                                163,004 
Other receivables and prepayments                                             111,751 
                                                      9 
                                                                205,413 
Payments on behalf of residents                                               169,626 
                                                                 14,966 
Amounts due from fellow subsidiaries                                           46,548 
Amounts due from non-controlling shareholders of 
                                                                 75,934 
  the subsidiaries                                                             46,422 
                                                                  2,145 
Amounts due from related parties                                                7,228 
                                                                  1,318 
Amount due from an associate                                                    1,105 
                                                                     12 
Amount due from a director                                                          - 
Financial assets designated at fair value through 
                                                                 57,179 
  profit or loss ("FVTPL")                                                     19,200 
                                                                492,300 
Pledged/restricted bank deposits                                              551,383 
                                                                353,059 
Bank balances and cash                                                        419,478 
 
                                                              1,657,754      1,588,525 
 
 
 
 
                                              -4- 
 
 
 
 
 
 

 
 
                                                               30 June   31 December 
                                                                  2016          2015 
                                                             RMB'000 
                                                   NOTES                    RMB'000 
                                                           (Unaudited)      (Audited) 
 
Current Liabilities 
                                                                16,725 
Amounts due to customers for contract works                                   17,141 
                                                                97,082 
Trade payables                                                                80,231 
                                                    10 
                                                               495,262 
Other payables and accruals                                                  421,177 
                                                    11 
                                                               130,142 
Receipts on behalf of residents                                              104,033 
                                                                49,341 
Amounts due to fellow subsidiaries                                             4,734 
Amounts due to non-controlling shareholders 
                                                                25,715 
  of the subsidiaries                                                         30,125 
                                                                 5,145 
Amount due to an associate                                                     5,040 
                                                                   250 
Amount due to a joint venture                                                     94 
                                                               107,269 
Tax liabilities                                                              108,010 
                                                               108,371 
Borrowings due within one year                                               302,990 
 
                                                             1,035,302      1,073,575 
 
Net Current Assets                                             622,452       514,950 
 
Total Assets less Current Liabilities                        2,043,771      1,645,581 
 
Non-current Liabilities 
                                                                82,536 
Deferred tax liabilities                                                      54,033 
Amount due to a non-controlling shareholder of a 
                                                                   740 
subsidiary                                                                       816 
                                                               439,990 
Borrowings due after one year                                                290,000 
                                                                 1,452 
Amounts due to a fellow subsidiary                                                 - 
                                                               100,091 
Corporate bonds                                                                    - 
 
Total Non-current Liabilities                                  624,809       344,849 
 
Net Assets                                                   1,418,962      1,300,732 
 
Capital and Reserves 
                                                                79,325 
Share capital                                                                  79,325 
                                                             1,279,550 
Reserves                                                                    1,180,066 
 
                                                             1,358,875 
Equity attributable to owners of the Company                                1,259,391 
                                                                60,087 
Non-controlling interests                                                      41,341 
 
Total Equity                                                 1,418,962      1,300,732 
 
 
 
 
                                           -5- 
 
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 
FOR THE SIX MONTHS ENDED 30 JUNE 2016 
 
1.   BASIS OF PREPARATION 
 
     The condensed consolidated financial statements have been prepared in accordance with Hong Kong 
     Accounting Standard 34 ("HKAS 34") Interim Financial Reporting issued by the Hong Kong Institute of 
     Certified Public Accountants ("HKICPA") and with the applicable disclosure requirements of Appendix 16 
     to the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited (the Listing 
     Rules"). 
 
2.   PRINCIPAL ACCOUNTING POLICIES 
 
     The condensed consolidated financial statements have been prepared on the historical cost basis except for 
     certain properties and financial instruments, which are measured at fair values, as appropriate. 
 
     Except as described below, the accounting policies and methods of computation used in the condensed 
     consolidated financial statements for the six months ended 30 June 2016 are the same as those followed in 
     the preparation of the Group's annual financial statements for the year ended 31 December 2015. 
 
     Application of New and Revised Hong Kong Financial Reporting Standards ("HKFRSs") 
 
     In the current interim period, the Group has applied, for the first time, the following new and revised 
     HKFRSs issued by the HKICPA that are relevant for the preparation of the Group's condense consolidated 
     financial statements. 
 
     HKFRS 14                        Regulatory Deferral Accounts 
     Amendments to HKFRS 11          Accounting for Acquisitions of Interests in Joint Operations 
     Amendments to HKAS 1            Disclosure Initiative 
     Amendments to HKAS 16           Clarification of Acceptable Methods of Depreciation and Amortisation 
      and HKAS 38 
     Amendments to HKFRSs            Annual Improvements to HKFRSs 2012-2014 Cycle 
     Amendments to HKFRS 10,         Investment Entities: Applying the Consolidation Exception 
      HKFRS 12 and HKAS 28 
 
     The directors of the Company considered the application of the new or revised amendments and 
     interpretation to HKFRSs in the current interim period has had no material effect on the amounts reported 
     and/or disclosures set out in these condensed consolidated financial statements. 
 
 
 
 
                                                    -6- 
 
 
 
 
 
 

 
 
3.   SEGMENT INFORMATION 
 
     Segment revenues and results 
 
     The following is an analysis of the Group's revenue and results by operating and reportable segment. 
 
     Six months ended 30 June 2016 (unaudited) 
 
                                                                       Community 
                                             Property                 leasing, sales 
                                          management     Engineering     and other 
                                              services       services      services    Elimination      Total 
                                            RMB'000        RMB'000        RMB'000        RMB'000      RMB'000 
 
                                              439,448          64,252        71,443              -      575,143 
     External revenue 
                                                    -           2,425         2,295         (4,720)           - 
     Inter-segment revenue 
 
                                              439,448          66,677        73,738         (4,720)     575,143 
     Segment revenue 
 
                                               92,502          30,189        57,440                     180,131 
     Segment profit 
 
     Changes in fair value of 
                                                                                                            4,378 
       investment properties 
     Investment income of financial 
                                                                                                          1,503 
       assets designated at FVTPL 
                                                                                                            338 
     Share of profit of associates 
                                                                                                            203 
     Share of profit of a joint venture 
                                                                                                        (11,211) 
     Finance costs 
                                                                                                          2,391 
     Bank interest income 
                                                                                                        (51,164) 
     Share-based payment expense 
                                                                                                         (1,058) 
     Other unallocated expense 
 
                                                                                                        125,511 
     Profit before tax 
 
 
 
 
                                                         -7- 
 
3.   SEGMENT INFORMATION -- continued 
 
     Six months ended 30 June 2015 (unaudited) 
 
                                                                      Community 
                                             Property               leasing, sales 
                                          management    Engineering     and other 
                                             services      services      services    Elimination          Total 
                                            RMB'000       RMB'000       RMB'000        RMB'000         RMB'000 
 
     External revenue                        149,620          84,724       43,796                 -     278,140 
     Inter-segment revenue                         -             444           23              (467)          - 
 
     Segment revenue                         149,620          85,168       43,819              (467)    278,140 
 
     Segment profit                            71,968         45,165       32,540                       149,673 
 
     Changes in fair value of 
       investment properties                                                                              2,099 
     Share of results of associates                                                                         319 
     Share of result of a joint venture                                                                     374 
     Finance costs                                                                                       (6,765) 
     Bank interest income                                                                                 2,537 
     Share-based payment expense                                                                        (31,320) 
     Other unallocated expense                                                                             (531) 
 
     Profit before tax                                                                                  116,386 
 
4.   INCOME TAX EXPENSE 
 
                                                                              Six months ended 30 June 
                                                                                    2016               2015 
                                                                                RMB'000            RMB'000 
                                                                              (Unaudited)        (Unaudited) 
 
     Current tax 
                                                                                     46,162 
       The People's Republic of China ("PRC") EIT                                                        38,198 
                                                                                        238 
       Republic of Singapore EIT                                                                            164 
                                                                                     (5,908) 
     Deferred tax                                                                                        (6,125) 
 
                                                                                     40,492              32,237 
 
 
 
 
                                                        -8- 
 
 
 
 
 
 

 
 
5.   PROFIT FOR THE PERIOD 
 
                                                                              Six months ended 30 June 
                                                                                    2016               2015 
                                                                                RMB'000            RMB'000 
                                                                              (Unaudited)        (Unaudited) 
 
     Profit for the period has been arrived at after charging: 
 
                                                                                   307,254 
     Staff costs                                                                                          80,703 
                                                                                     9,854 
     Amortisation of intangible assets (included in costs of sales)                                        3,598 
                                                                                    12,853 
     Depreciation for property, plant and equipment                                                        4,378 
     Minimum lease payments under operating leases in rented 
                                                                                      3,490 
       premises                                                                                            2,008 
     Allowance for doubtful debts on trade receivables included in 
                                                                                      7,720 
       other gains and losses                                                                              9,280 
     Impairment loss recognised on payments on behalf of residents 
                                                                                      8,281 
       under commission basis included in other gains or losses                                           14,500 
 
6.   DIVIDENDS 
 
     During the current interim period, a final dividend of HKD10.00 cents per share in respect of the year ended 
     31 December 2015 (2014: HKD9.00 cents) was declared and paid to the owners of the Company. The 
     aggregate amount of the final dividend declared and paid in the period amounted to RMB84,695,000 (2015: 
     RMB71,033,000). 
 
     The directors of the Company do not recommend the payment of an interim dividend for the six months 
     ended 30 June 2016. 
 
7.   EARNINGS PER SHARE 
 
     The calculation of the basic and diluted earnings per share attributable to owners of the Company is based 
     on the following data: 
 
                                                                              Six months ended 30 June 
                                                                                    2016               2015 
                                                                                RMB'000            RMB'000 
                                                                              (Unaudited)        (Unaudited) 
 
     Earnings 
 
     Earnings for the purposes of basic and diluted earnings per share 
                                                                                    73,467 
       (profit for the period attributable to owners of the Company)                                      77,578 
 
     Number of shares 
 
     Weighted average number of ordinary shares for the purpose of 
                                                                             1,000,119,000 
       basic earnings per share                                                                   1,000,029,138 
                                                                                         - 
     Effect of dilutive potential ordinary shares: share options                                      2,525,848 
 
     Weight average number of ordinary shares for the purpose of 
                                                                             1,000,119,000 
      diluted earnings per share                                                                  1,002,554,986 
 
     The computation of diluted earnings per share does not assume the exercise of the share options granted by 
     the Company during the six months ended 30 June 2016 as the exercise price is higher than the average 
     market price of the Company's shares during the mid-year ended 30 June 2016. 
 
 
                                                       -9- 
 
8.   TRADE RECEIVABLES 
 
                                                                                  30 June          31 December 
                                                                                     2016                 2015 
                                                                                RMB'000               RMB'000 
                                                                              (Unaudited)             (Audited) 
 
                                                                                   266,354 
     Trade receivables                                                                                  184,594 
                                                                                     4,324 
     Retention receivables                                                                                3,880 
                                                                                    15,641 
     Invoice to be issued                                                                                13,062 
 
                                                                                   286,319              201,536 
                                                                                   (22,707) 
     Less: allowance for doubtful debts                                                                 (14,987) 
 
                                                                                   263,612 
     Total trade receivables                                                                            186,549 
 
     Classified as: 
                                                                                     8,990 
       Non-current                                                                                        7,199 
                                                                                   254,622 
       Current                                                                                          179,350 
 
                                                                                   263,612              186,549 
 
     The following is an aging analysis of gross trade receivables presented based on the invoice date or date of 
     demand note at the end of the reporting period, which approximated to the respective revenue recognition 
     date, except for trade receivables from engineering services and trade receivables from agency service 
     provided to , Shenzhen Caizhijia Real Estate Planning Co., Ltd. 
     ("Caizhijia"), of which the invoice date represented the payment due date: 
 
                                                                                  30 June          31 December 
                                                                                     2016                 2015 
                                                                                RMB'000               RMB'000 
                                                                              (Unaudited)             (Audited) 
 
                                                                                    77,034 
     0 to 30 days                                                                                         81,728 
                                                                                    62,332 
     31 to 90 days                                                                                        36,922 
                                                                                    51,518 
     91 to 180 days                                                                                       26,453 
                                                                                    48,168 
     181 to 365 days                                                                                      33,280 
                                                                                    27,302 
     Over 1 year                                                                                           6,211 
 
                                                                                   266,354              184,594 
 
 
 
 
                                                    - 10 - 
 
 
 
 
 
 

 
 
9.   OTHER RECEIVABLES AND PREPAYMENTS 
 
                                                                                 30 June          31 December 
                                                                                    2016                 2015 
                                                                               RMB'000               RMB'000 
                                                                             (Unaudited)             (Audited) 
 
                                                                                   32,001 
     Other deposits                                                                                     16,330 
                                                                                   31,609 
     Advance to staff                                                                                   25,760 
                                                                                   25,314 
     Prepayment for suppliers                                                                           14,325 
     Receivables from customers for residential and retail units rental 
                                                                                    9,970 
       assistance services on behalf of Caizhijia                                                        2,430 
     Payment on behalf of residents for residential communities under 
                                                                                   26,089 
       lump sum basis                                                                                   22,356 
     Payment on behalf of residents for residential communities under 
                                                                                   29,592 
       consultancy services arrangements                                                                24,186 
                                                                                    4,172 
     Receivables from former shareholders of certain subsidiaries                                        5,181 
                                                                                   10,938 
     Others                                                                                              7,147 
 
                                                                                  169,685              117,715 
 
     Classified as: 
                                                                                    6,681 
     Non-current                                                                                         5,964 
                                                                                  163,004 
     Current                                                                                           111,751 
 
                                                                                  169,685              117,715 
 
10. TRADE PAYABLES 
 
                                                                                 30 June          31 December 
                                                                                    2016                 2015 
                                                                               RMB'000               RMB'000 
                                                                             (Unaudited)             (Audited) 
 
                                                                                   97,082 
     Trade payables                                                                                     80,231 
 
     The following is an aging analysis of trade payables presented based on the invoice date at the end of the 
     reporting period: 
 
                                                                                 30 June          31 December 
                                                                                    2016                 2015 
                                                                               RMB'000               RMB'000 
                                                                             (Unaudited)             (Audited) 
 
                                                                                   74,226 
     0-60 days                                                                                          60,805 
                                                                                   11,054 
     61-180 days                                                                                         9,367 
                                                                                    2,687 
     181-365 days                                                                                        6,574 
                                                                                    9,115 
     Over 1 year                                                                                         3,485 
 
                                                                                   97,082               80,231 
 
 
 
 
                                                     - 11 - 
 
11. OTHER PAYABLES AND ACCRUALS 
 
                                                                              30 June          31 December 
                                                                                 2016                 2015 
                                                                            RMB'000               RMB'000 
                                                                          (Unaudited)             (Audited) 
 
   Receipts on behalf of residents for residential communities under 
                                                                                41,890 
     lump sum basis                                                                                  50,181 
   Receipts on behalf of residents for residential communities under 
                                                                                13,460 
     consultancy service arrangements                                                                 3,367 
                                                                                     - 
   Accrued listing expenses                                                                             670 
                                                                                99,431 
   Advances from customers                                                                           78,837 
                                                                                58,278 
   Deposits received                                                                                 41,217 
                                                                                49,903 
   Other tax payable                                                                                 47,843 
                                                                                 1,705 
   Rental payable                                                                                     1,745 
                                                                                54,512 
   Accrued staff costs                                                                               58,559 
                                                                                62,280 
   Provision for retirement benefit contributions                                                    60,998 
                                                                                40,752 
   Other payables and accruals                                                                       33,609 
                                                                                60,851 
   Consideration payables for acquisition of subsidiaries                                            44,151 
                                                                                12,200 
   Loan from third parties (note)                                                                         - 
 
                                                                               495,262              421,177 
 
   Note: In June 2016, the Group entered into (a) a loan agreement with its customer 
         , Shenzhen Longxing Century Investment Co., Ltd. ("Shenzhen Longxing") for obtaining a 
         loan of RMB10,700,000 for a period of two months from 28 June 2016 to 28 August 2016. According 
         to the agreement entered into between the Group and Shenzhen Longxing, the amount is unsecured, 
         interest-bearing at 10% per annum over the financing period, (b) a loan agreement with its supplier 
         , Shenzhen Zhengjiajie Technology Co., Ltd., for obtaining a loan of 
         RMB1,500,000 for one month from 27 June 2016 to 27 July 2016. The loan is unsecured, interest- 
         free and has been repaid on 7 July 2016. 
 
 
 
 
                                                  - 12 - 
 
 
 
 
 
 

 
 
MANAGEMENT DISCUSSION AND ANALYSIS 
 
Business Review 
 
Overview 
 
The Group is a leading community services operator in the People's Republic of China (the 
"PRC" or "China"). Based on the gross floor area ("GFA") of residential communities which 
the Group was contracted to manage as at 31 December 2015, the Group was named by China 
Index Academy in 2016 as the provider with the largest coverage of community services in 
the world in terms of the area of residential properties under its management. The Group has 
three main business segments: 
 
   property management services, which primarily include: (i) services such as security, 
     cleaning, gardening, repair and maintenance provided to residential communities on a 
     commission basis, which include mixed-use properties containing residential units and 
     ancillary facilities that are non-residential in nature, (ii) services such as security, 
     cleaning, gardening, repair and maintenance provided to residential communities on a 
     lump sum basis, which include mixed-use properties containing residential units and 
     ancillary facilities that are non-residential in nature, (iii) pre-sale services provided to 
     property developers, including cleaning, security and maintenance of the pre-sale display 
     units; and (iv) consultancy services provided for regional property companies, such as 
     standardised operation, cost control and consultation; 
 
   engineering services, which primarily include: (i) equipment installation services, (ii) 
     repair and maintenance services, and (iii) automation and other equipment upgrade 
     services through the Group's equipment leasing program; and 
 
   community leasing, sales and other services, which primarily include: (i) common area 
     rental assistance, (ii) assisting residents to complete the transaction of commodity or 
     service through the Group's information system usage or achieving the purpose of 
     providing basic service to the community using the software platform of the Group, (iii) 
     purchase assistance, and (iv) residential and retail units rental and sales assistance. 
 
 
 
 
                                               - 13 - 
 
Property Management Services 
 
The Group adheres to its strategy of rapid expansion in GFA coverage. During the Period, the 
Group acquired the controlling interest in 9 property management companies, including 1 first 
class qualified company, 3 second class qualified companies and 5 third class qualified 
companies. During the Period, the Group obtained contracted GFA of 26.5 million sq.m. 
through such acquisitions. 
 
Meanwhile, the Group possesses extensive experience in the area of merging and large room 
for reform and improvement. The Group acquired Shenzhen Kaiyuan International Property 
Management Co., Ltd. ("Kaiyuan International"), a leading enterprise in the property industry. 
After a year of collaboration, Kaiyuan International is operating smoothly. With the 
transformation and completion of the upgrade of communities acquired last year, the customer 
satisfaction and the property management fee collection rate have both improved during the 
Period. Therefore, net cash from operating activities for the Period increased by RMB173.3 
million from RMB-69.1 million for the same period in 2015 to RMB104.2 million. 
 
In addition, the Group also focused on driving its organic growth through word-of-mouth 
marketing and brand building. According to the "2016 Research Report on the Top 100 
property service provider in the PRC" issued by the China Index Academy, the Group ranked 
sixth among the Leading Property Management Companies in terms of customer satisfaction, 
which laid a solid foundation for obtaining management area through potential new 
engagements. As at 30 June 2016, the Group's management service covers Singapore and 180 
cities in China and was well-received by the local markets. Newly engaged management area 
reached 15.5 million sq.m. in the first half of the year. 
 
Through expansion by ways of merger and acquisitions and organic growth (or new 
engagement), as at 30 June 2016, the contracted GFA of the Group increased by 38.0 million 
sq.m. from the end of 2015 to 360.1 million sq.m. and the number of management services 
projects increased by 235 from the end of 2015 to 2,236, which fulfills the Group's strategy of 
rapid expansion in GFA coverage. 
 
 
 
 
                                            - 14 - 
 
 
 
 
 
 

 
 
In order to further speed up the market expansion, the Group launched the Colour Life 
Property Sales model, under which, the Group collaborates with property developers and 
financial institutions, such that sales of properties are bundled with coupons that can later be 
used on the Caizhiyun Platform, a smart community Application ("App") platform. Since 
Colour Life Property Sales model primarily targets buyers with limited disposable income, the 
coupons can assist with lowering the cost of living of the targeted customers. In turn, by 
launching such coupons, Colour Life Property Sales model can greatly improve the loyalty of 
the Caizhiyun platform's users and increase users' activity. Further to the expansion by ways 
of merger and acquisitions and organic growth, Colour Life Property Sales model will become 
the third way of expansion in the future. 
 
Geographical Presence 
 
As at 30 June 2016, the regions with residential communities which the Group managed or 
provided consultancy services to were as follows: 
 
 
 
 
                                            - 15 - 
 
Southern China     Eastern China         Southwestern China   Northern China 
1. Shenzhen        46. Changzhou         88. Chengdu          140. Beijing 
2. Dongguan        47. Dongtai           89. Liuzhou          141. Qinhuangdao 
3. Foshan          48. Gaoyou            90. Dali             142. Tianjin 
4. Fuzhou          49. Huai'an           91. Guilin           143. Shijiazhuang 
5. Ganzhou         50. Jiangyin          92. Nanning          144. Baotou 
6. Guangzhou       51. Jurong            93. Zigong           145. Tongliao 
7. Heyuan          52. Lianyungang       94. Chongzuo         146. Wuhai 
8. Huizhou         53. Nanjing           95. Baise            147. Taiyuan 
9. Jingdezhen      54. Nantong           96. Guigang          148. Tangshan 
10. Nanchang       55. Shanghai          97. Zunyi            149. Hulunbuir 
11. Nankang        56. Suzhou            98. Guiyang          150. Ulanqab 
12. Putian         57. Wuxi              99. Fangchenggang 
                                                              Central China 
13. Qingyuan       58. Wuhu              100. Deyang 
14. Shangrao       59. Xinghua           101. Guang'an        151. Changsha 
15. Yangjiang      60. Yancheng          102. Laibin          152. Xinxiang 
16. Yichun         61. Yangzhou          103. Lijiang         153. Yiyang 
17. Yingtan        62. Yixing            104. Mianyang        154. Zhengzhou 
18. Zhongshan      63. Changshu          105. Pingnan         155. Wuhan 
19. Zhuhai         64. Kunshan           106. Suining         156. Chenzhou 
20. Xiamen         65. Xuzhou            107. Tongren         157. Kaifeng 
21. Shaoguan       66. Hangzhou          108. Yizhou          158. Anyang 
22. Heshan         67. Chuzhou           109. Chongqing       159. Xiangyang 
23. Nan'an         68. Huzhou            110. Ziyang          160. Jingmen 
24. Quanzhou       69. Fuyang            111. Anshun          161. Puyang 
25. Sanming        70. Jiaxing           112. Beihai          162. Yichang 
26. Zhangzhou      71. Linyi             113. Guanghan        163. Yueyang 
27. Nanxiong       72. Yantai            114. Kunming         164. Zhangjiajie 
28. Longyan        73. Zhenjiang         115. Guangyuan       165. Zhuzhou 
29. Jiujiang       74. Zibo              116. Neijiang        166. Huixian 
30. Maoming        75. Bengbu            117. Duyun           167. Luohe 
31. Nanping        76. Hefei             118. Fuquan          168. Xiangtan 
32. Xinyu          77. Ji'ning           119. Longli          169. Huanggang 
33. Zhaoqing       78. Liu'an            120. Majiang         170. Changde 
34. Haikou         79. Qingdao                                171. Jingzhou 
                                         Northeastern China 
35. Danzhou        80. Quzhou                                 172. Loudi 
36. Fuzhou         81. Shaoxing          121. Gaizhou         173. Luoyang 
37. Shantou        82. Taicang           122. Harbin          174. Wugang 
38. Zhanjiang      83. Wenzhou           123. Huludao         175. Suizhou 
39. Jinggangshan   84. Haining           124. Shenyang        176. Nanyang 
40. Fengcheng      85. Ji'nan            125. Shuangyashan    177. Xingyang 
41. Ji'an          86. Suqian            126. Tieling         178. Shangqiu 
42. Meizhou        87. Tai'an            127. Yingkou         179. Enshi 
43. Zhangping                            128. Diaobingshan 
                                                              Non-Mainland China 
44. Sanya                                129. Benxi 
45. Ruijin                               130. Changchun       180. Hong Kong 
                                         131. Panjin 
                                                              Oversea 
                                         132. Dalian 
                                         133. Mudanjiang      181. Singapore 
 
                                         Northwestern China 
                                         134. Xi'an 
                                         135. Yinchuan 
                                         136. Lanzhou 
                                         137. Hancheng 
                                         138. Xi'ning 
                                         139. Yulin 
 
 
                                     - 16 - 
 
 
 
 
 
 

 
 
The Group's total contracted GFA had grown continuously during the first half of 2016. The 
table below sets forth the total contracted GFA and the number of residential communities that 
the Group managed or provided consultancy services to in different regions as at the dates 
indicated below: 
 
                                              As at 30 June                                     As at 31 December 
                                                  2016                                                 2015 
                                                         Under the Group's                                     Under the Group's 
                                                         consultancy service                                  consultancy service 
                             Managed by the Group           arrangements         Managed by the Group            arrangements 
                                  Total                     Total                    Total                       Total 
                            Contracted                Contracted                Contracted                  Contracted 
                                  GFA      Number           GFA        Number        GFA        Number           GFA         Number 
                           ('000 sq.m.)              ('000 sq.m.)             ('000 sq.m.)                ('000 sq.m.) 
 
                                 7,648          131          753           18 
Shenzhen                                                                              7,578          129          753           18 
Southern China(excluding 
                                67,691          469        3,807           17 
  Shenzhen)(1)                                                                       58,439          414        3,807           17 
                               106,343          690        7,714           44 
Eastern China(2)                                                                    104,313          652        7,483           43 
                                56,370          328          798            2 
Southwestern China(3)                                                                40,702          236          798            2 
                                 8,462           49        3,429           21 
Northeastern China                                                                   10,044           58        3,429           21 
                                16,922           75           76            1 
Northwestern China                                                                   15,439           68           76            1 
                                16,215           80        2,005           19 
Northern China(4)                                                                    13,855           70        2,005           19 
                                60,473          236          334            2 
Central China(5)                                                                     52,076          198          300            1 
                                    40           16            -            - 
Non-mainland China                                                                       40           16            -            - 
                                   987           38            -            - 
Singapore                                                                               987           38            -            - 
 
                               341,151        2,112       18,916          124 
Total                                                                               303,473        1,879       18,651          122 
 
Notes: 
 
(1)     The Group newly entered Meizhou, Zhangping, Sanya and Ruijin as at 30 June 2016. 
 
(2)     The Group newly entered Tai'an as at 30 June 2016. 
 
(3)     The Group newly entered Guangyuan, Neijiang, Duyun, Fuquan, Longli and Majiang as at 30 June 2016. 
 
(4)     The Group newly entered Hulunbuir and Ulanqab as at 30 June 2016. 
 
(5)     The Group newly entered Suizhou, Nanyang, Xingyang, Shangqiu and Enshi as at 30 June 2016. 
 
 
 
 
                                                            - 17 - 
 
As at 30 June 2016, the Group had grown its contracted GFA coverage to 180 cities in China 
and one country outside China. As at 30 June 2016, the Group was contracted to manage 2,112 
residential communities with an aggregate contracted GFA of approximately 341.2 million 
sq.m. and entered into consultancy services contracts with 124 residential communities with 
an aggregate contracted GFA of approximately 18.9 million sq.m. The Group will continue to 
expand its business through obtaining new service engagements and acquisitions of other 
property management companies. The table below sets forth the movement of the total 
contracted GFA and the number of residential communities the Group managed or provided 
consultancy services to during the first half of 2016: 
 
                                                   As at 30 June 2016                                 As at 31 December 2015 
                                                                  Under the Group's                                    Under the Group's 
                                                                  consultancy service                                  consultancy service 
                                    Managed by the Group            arrangements          Managed by the Group            arrangements 
                                        Total Number of             Total Number of            Total Number of            Total Number of 
                                  Contracted residential Contracted residential          Contracted    residential Contracted      residential 
                                         GFA communities             GFA communities           GFA communities            GFA communities 
                                  ('000 sq.m)                 ('000 sq.m)               ('000 sq.m)                ('000 sq.m) 
 
                                     303,473         1,879       18,651          122 
As at the beginning of the year                                                            137,164           796         68,086           469 
                                      15,515            81            -            - 
New engagements(1)                                                                          51,804           221            241             1 
                                      26,251           173          265            2 
Acquisitions                                                                                85,083           657          2,040             8 
Transfer from consultancy 
                                           -             -            -            - 
  service to self-management(2)                                                             47,540            341       (47,540)         (341) 
                                      (4,088)          (21)           -            - 
Terminations(3)                                                                            (18,118)          (136)       (4,176)          (15) 
 
                                     341,151         2,112       18,916          124 
As at the end of the year                                                                  303,473          1,879        18,651           122 
 
Notes: 
 
(1)    In relation to residential communities that the Group managed, new engagements primarily include service 
       engagements for new property developments constructed by property developers and to a much lesser 
       extent, service engagements for residential communities replacing their previous property management 
       companies. In relation to residential communities that the Group provided consultancy services to, new 
       engagements include the Group's entering into of consultancy services agreements with regional property 
       management companies. 
 
(2)    The Group acquired the property management companies to which it provided consultancy services 
       previously, resulting in the relevant residential communities under the Group's consultancy service 
       arrangements transferred into those the Group managed. 
 
(3)    Including the contracted GFA and the number of residential communities which the Group ceased to 
       manage primarily due to non-renewal of certain property management contracts. 
 
 
 
 
                                                                   - 18 - 
 
 
 
 
 
 

 
 
Nature of the Property Developers 
 
The properties that the Group manages or provides consultancy services are predominantly 
constructed by independent property developers other than Fantasia Holdings Group Co., 
Limited ("Fantasia Holdings") and its subsidiaries (collectively, the "Fantasia Group"), the 
controlling shareholder of the Company. The table below sets forth a breakdown of the 
contracted GFA and the number of properties the Group managed or provided with 
consultancy services which were developed by independent property developers and Fantasia 
Group as at the dates indicated below: 
 
                                             As at 30 June 2016                               As at 31 December 2015 
                                  Total    % of total             % of total          Total    % of total                % of total 
                            Contracted    Contracted Number of    number of     Contracted    Contracted Number of       number of 
                                   GFA          GFA Properties    properties          GFA           GFA     Properties   properties 
                            ('000 sq.m)                                        ('000 sq.m) 
 
Properties constructed by 
  independent property 
  developers other than 
                               351,302        97.6%       2,202      98.5% 
  the Fantasia Group                                                              314,416         97.6%         1,970       98.5% 
Properties constructed by 
                                 8,765        2.4%           34        1.5% 
  the Fantasia Group                                                                 7,708         2.4%            31         1.5% 
 
                               360,067        100%        2,236       100% 
Total                                                                             322,124         100%          2,001        100% 
 
 
Scope of Services for Property Management Services 
 
The Group focuses on providing: (i) property management services such as security, cleaning, 
gardening, repair and maintenance to residential communities, and (ii) pre-sale services to 
property developers, including cleaning, security and maintenance of the pre-sale display 
units. 
 
The property management services the Group provides can be grouped into the following 
categories: 
 
Security services 
 
The Group endeavors to provide high-quality security services to ensure that the communities 
it manages are well protected. The Group seeks to enhance the quality of its security services 
through equipment upgrade. Daily security services provided by the Group include patrolling, 
access control, visitor handling and emergency handling. The Group may delegate certain 
security services to third-party sub-contractors. 
 
Cleaning and gardening services 
 
The Group provides general cleaning, pest control and landscape maintenance services to 
communities managed by it through its own specialised subsidiaries or third-party sub- 
contractors. 
 
 
 
 
                                                           - 19 - 
 
Repair and maintenance services 
 
The Group provides repair and maintenance services to certain communities it manages. In 
particular, the Group is generally responsible for the maintenance of: (i) common area 
facilities such as lifts, escalators and central air conditioning facilities; (ii) fire and safety 
facilities such as fire extinguishers and fire alarm systems; (iii) security facilities such as 
entrance gates control and surveillance cameras; and (iv) utility facilities such as electricity 
generators, water pumps and water tanks. The Group provides such services through its 
specialised subsidiaries or third-party sub-contractors. 
 
Colour Life Property Management Services Model 
 
As at 30 June 2016, the Group employed over 35,452 on-site personnel to provide property 
management services. The table below sets forth the property management fee range for 
residential area within the residential communities the Group managed on a commission basis 
and a lump sum basis as at the dates indicated below. Property management fee levels within 
the same geographical region vary depending on factors such as property types and locations. 
 
                                                   As at 30 June 2016     As at 31 December 2015 
                                                     Under         Under       Under         Under 
                                                commission     lump sum commission       lump sum 
                                                      basis         basis       basis         basis 
                                               (RMB/sq.m./ (RMB/sq.m./ (RMB/sq.m./ (RMB/sq.m./ 
                                                    month)        month)     month)        month) 
 
                                           0.8-8.0                  1.0-6.9 
Shenzhen                                                                           0.8-8.0           1.0-6.9 
                                         0.4-3.75                 0.75-2.9 
Southern China (excluding Shenzhen)(1)                                           0.4-3.75          0.75-2.9 
                                          0.2-6.5                  1.0-4.2 
Eastern China(2)                                                                  0.2-6.5           1.0-4.2 
                                         0.3-5.68                  0.5-5.0 
Southwestern China                                                               0.3-5.68           0.5-5.0 
                   (3) 
 
                                          0.4-3.7                       1.8 
Northeastern China                                                                0.4-3.7                1.8 
                                          0.6-1.2                      1.88 
Northwestern China                                                                0.6-1.2               1.88 
                                          1.8-3.4                 0.75-3.5 
Northern China(4)                                                                 1.8-3.4          0.75-3.5 
                                         0.5-4.18                 0.5-2.48 
Central China(5)                                                                 0.5-4.18          0.5-2.48 
                                              1.23                        - 
Singapore                                                                             1.23                 - 
                                       1.42-20.35                         - 
Hong Kong                                                                      1.42-20.35                  - 
Notes: 
 
(1)   The Group newly entered Meizhou, Zhangping, Sanya and Ruijin as at 30 June 2016. 
 
(2)   The Group newly entered Tai'an as at 30 June 2016. 
 
(3)   The Group newly entered Guangyuan, Neijiang, Duyun, Fuquan, Longli and Majiang as at 30 June 2016. 
 
(4)   The Group newly entered Hulunbuir and Ulanqab as at 30 June 2016. 
 
(5)   The Group newly entered Suizhou, Nanyang, Xingyang, Shangqiu and Enshi as at 30 June 2016. 
 
 
 
 
                                                   - 20 - 
 
 
 
 
 
 

 
 
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER 
COMPREHENSIVE INCOME 
FOR THE SIX MONTHS ENDED 30 JUNE 2016 
 
                                                       Six months ended 30 June 
                                                             2016            2015 
                                                          RMB'000 
                                               NOTES                     RMB'000 
                                                       (Unaudited)     (Unaudited) 
 
Profit for the period attributable to: 
                                                            73,467 
  Owners of the Company                                                     77,578 
                                                            11,552 
  Non-controlling interests                                                  6,571 
 
                                                            85,019          84,149 
 
Profit and total comprehensive income 
  attributable to: 
                                                           133,015 
  Owners of the Company                                                     77,578 
                                                            11,552 
  Non-controlling interests                                                  6,571 
 
                                                           144,567          84,149 
 
Earnings per share (RMB cents)                   7 
                                                              7.35 
  -- Basic                                                                     7.76 
 
                                                              7.35 
  -- Diluted                                                                   7.74 
 
 
 
 
                                         -3- 
 
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION 
AT 30 JUNE 2016 
 
                                                                30 June   31 December 
                                                                   2016          2015 
                                                              RMB'000 
                                                    NOTES                    RMB'000 
                                                            (Unaudited)      (Audited) 
 
Non-current Assets 
                                                                175,517 
Property, plant and equipment                                                 167,099 
                                                                 94,049 
Investment properties                                                          88,804 
                                                                  6,670 
Interests in associates                                                         6,332 
                                                                  1,311 
Interest in a joint venture                                                     1,108 
                                                                129,397 
Available-for-sale investment                                                       - 
                                                                184,423 
Intangible assets                                                             152,033 
                                                                648,446 
Goodwill                                                                      575,634 
                                                                  8,990 
Trade receivables                                                               7,199 
                                                      8 
                                                                  6,681 
Other receivables and prepayments                                               5,964 
                                                      9 
                                                                 23,722 
Deferred tax assets                                                            19,722 
                                                                     78 
Amount due from a director                                                          - 
Deposits paid for potential acquisitions of 
                                                                142,035 
  subsidiaries                                                                106,736 
 
                                                              1,421,319      1,130,631 
 
Current Assets 
                                                                  3,033 
Inventories                                                                     2,106 
                                                                 34,769 
Amounts due from customers for contract works                                  34,328 
                                                                254,622 
Trade receivables                                                             179,350 
                                                      8 
                                                                163,004 
Other receivables and prepayments                                             111,751 
                                                      9 
                                                                205,413 
Payments on behalf of residents                                               169,626 
                                                                 14,966 
Amounts due from fellow subsidiaries                                           46,548 
Amounts due from non-controlling shareholders of 
                                                                 75,934 
  the subsidiaries                                                             46,422 
                                                                  2,145 
Amounts due from related parties                                                7,228 
                                                                  1,318 
Amount due from an associate                                                    1,105 
                                                                     12 
Amount due from a director                                                          - 
Financial assets designated at fair value through 
                                                                 57,179 
  profit or loss ("FVTPL")                                                     19,200 
                                                                492,300 
Pledged/restricted bank deposits                                              551,383 
                                                                353,059 
Bank balances and cash                                                        419,478 
 
                                                              1,657,754      1,588,525 
 
 
 
 
                                              -4- 
 
 
 
 
 
 

0

0


 
 
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER 
COMPREHENSIVE INCOME 
FOR THE SIX MONTHS ENDED 30 JUNE 2016 
 
                                                       Six months ended 30 June 
                                                             2016            2015 
                                                          RMB'000 
                                               NOTES                     RMB'000 
                                                       (Unaudited)     (Unaudited) 
 
Profit for the period attributable to: 
                                                            73,467 
  Owners of the Company                                                     77,578 
                                                            11,552 
  Non-controlling interests                                                  6,571 
 
                                                            85,019          84,149 
 
Profit and total comprehensive income 
  attributable to: 
                                                           133,015 
  Owners of the Company                                                     77,578 
                                                            11,552 
  Non-controlling interests                                                  6,571 
 
                                                           144,567          84,149 
 
Earnings per share (RMB cents)                   7 
                                                              7.35 
  -- Basic                                                                     7.76 
 
                                                              7.35 
  -- Diluted                                                                   7.74 
 
 
 
 
                                         -3- 
 
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION 
AT 30 JUNE 2016 
 
                                                                30 June   31 December 
                                                                   2016          2015 
                                                              RMB'000 
                                                    NOTES                    RMB'000 
                                                            (Unaudited)      (Audited) 
 
Non-current Assets 
                                                                175,517 
Property, plant and equipment                                                 167,099 
                                                                 94,049 
Investment properties                                                          88,804 
                                                                  6,670 
Interests in associates                                                         6,332 
                                                                  1,311 
Interest in a joint venture                                                     1,108 
                                                                129,397 
Available-for-sale investment                                                       - 
                                                                184,423 
Intangible assets                                                             152,033 
                                                                648,446 
Goodwill                                                                      575,634 
                                                                  8,990 
Trade receivables                                                               7,199 
                                                      8 
                                                                  6,681 
Other receivables and prepayments                                               5,964 
                                                      9 
                                                                 23,722 
Deferred tax assets                                                            19,722 
                                                                     78 
Amount due from a director                                                          - 
Deposits paid for potential acquisitions of 
                                                                142,035 
  subsidiaries                                                                106,736 
 
                                                              1,421,319      1,130,631 
 
Current Assets 
                                                                  3,033 
Inventories                                                                     2,106 
                                                                 34,769 
Amounts due from customers for contract works                                  34,328 
                                                                254,622 
Trade receivables                                                             179,350 
                                                      8 
                                                                163,004 
Other receivables and prepayments                                             111,751 
                                                      9 
                                                                205,413 
Payments on behalf of residents                                               169,626 
                                                                 14,966 
Amounts due from fellow subsidiaries                                           46,548 
Amounts due from non-controlling shareholders of 
                                                                 75,934 
  the subsidiaries                                                             46,422 
                                                                  2,145 
Amounts due from related parties                                                7,228 
                                                                  1,318 
Amount due from an associate                                                    1,105 
                                                                     12 
Amount due from a director                                                          - 
Financial assets designated at fair value through 
                                                                 57,179 
  profit or loss ("FVTPL")                                                     19,200 
                                                                492,300 
Pledged/restricted bank deposits                                              551,383 
                                                                353,059 
Bank balances and cash                                                        419,478 
 
                                                              1,657,754      1,588,525 
 
 
 
 
                                              -4- 
 
 
 
 
 
 

1

1


 
 
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER 
COMPREHENSIVE INCOME 
FOR THE SIX MONTHS ENDED 30 JUNE 2016 
 
                                                       Six months ended 30 June 
                                                             2016            2015 
                                                          RMB'000 
                                               NOTES                     RMB'000 
                                                       (Unaudited)     (Unaudited) 
 
Profit for the period attributable to: 
                                                            73,467 
  Owners of the Company                                                     77,578 
                                                            11,552 
  Non-controlling interests                                                  6,571 
 
                                                            85,019          84,149 
 
Profit and total comprehensive income 
  attributable to: 
                                                           133,015 
  Owners of the Company                                                     77,578 
                                                            11,552 
  Non-controlling interests                                                  6,571 
 
                                                           144,567          84,149 
 
Earnings per share (RMB cents)                   7 
                                                              7.35 
  -- Basic                                                                     7.76 
 
                                                              7.35 
  -- Diluted                                                                   7.74 
 
 
 
 
                                         -3- 
 
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION 
AT 30 JUNE 2016 
 
                                                                30 June   31 December 
                                                                   2016          2015 
                                                              RMB'000 
                                                    NOTES                    RMB'000 
                                                            (Unaudited)      (Audited) 
 
Non-current Assets 
                                                                175,517 
Property, plant and equipment                                                 167,099 
                                                                 94,049 
Investment properties                                                          88,804 
                                                                  6,670 
Interests in associates                                                         6,332 
                                                                  1,311 
Interest in a joint venture                                                     1,108 
                                                                129,397 
Available-for-sale investment                                                       - 
                                                                184,423 
Intangible assets                                                             152,033 
                                                                648,446 
Goodwill                                                                      575,634 
                                                                  8,990 
Trade receivables                                                               7,199 
                                                      8 
                                                                  6,681 
Other receivables and prepayments                                               5,964 
                                                      9 
                                                                 23,722 
Deferred tax assets                                                            19,722 
                                                                     78 
Amount due from a director                                                          - 
Deposits paid for potential acquisitions of 
                                                                142,035 
  subsidiaries                                                                106,736 
 
                                                              1,421,319      1,130,631 
 
Current Assets 
                                                                  3,033 
Inventories                                                                     2,106 
                                                                 34,769 
Amounts due from customers for contract works                                  34,328 
                                                                254,622 
Trade receivables                                                             179,350 
                                                      8 
                                                                163,004 
Other receivables and prepayments                                             111,751 
                                                      9 
                                                                205,413 
Payments on behalf of residents                                               169,626 
                                                                 14,966 
Amounts due from fellow subsidiaries                                           46,548 
Amounts due from non-controlling shareholders of 
                                                                 75,934 
  the subsidiaries                                                             46,422 
                                                                  2,145 
Amounts due from related parties                                                7,228 
                                                                  1,318 
Amount due from an associate                                                    1,105 
                                                                     12 
Amount due from a director                                                          - 
Financial assets designated at fair value through 
                                                                 57,179 
  profit or loss ("FVTPL")                                                     19,200 
                                                                492,300 
Pledged/restricted bank deposits                                              551,383 
                                                                353,059 
Bank balances and cash                                                        419,478 
 
                                                              1,657,754      1,588,525 
 
 
 
 
                                              -4- 
 
 
 
 
 
 

2

2


 
 
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER 
COMPREHENSIVE INCOME 
FOR THE SIX MONTHS ENDED 30 JUNE 2016 
 
                                                       Six months ended 30 June 
                                                             2016            2015 
                                                          RMB'000 
                                               NOTES                     RMB'000 
                                                       (Unaudited)     (Unaudited) 
 
Profit for the period attributable to: 
                                                            73,467 
  Owners of the Company                                                     77,578 
                                                            11,552 
  Non-controlling interests                                                  6,571 
 
                                                            85,019          84,149 
 
Profit and total comprehensive income 
  attributable to: 
                                                           133,015 
  Owners of the Company                                                     77,578 
                                                            11,552 
  Non-controlling interests                                                  6,571 
 
                                                           144,567          84,149 
 
Earnings per share (RMB cents)                   7 
                                                              7.35 
  -- Basic                                                                     7.76 
 
                                                              7.35 
  -- Diluted                                                                   7.74 
 
 
 
 
                                         -3- 
 
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION 
AT 30 JUNE 2016 
 
                                                                30 June   31 December 
                                                                   2016          2015 
                                                              RMB'000 
                                                    NOTES                    RMB'000 
                                                            (Unaudited)      (Audited) 
 
Non-current Assets 
                                                                175,517 
Property, plant and equipment                                                 167,099 
                                                                 94,049 
Investment properties                                                          88,804 
                                                                  6,670 
Interests in associates                                                         6,332 
                                                                  1,311 
Interest in a joint venture                                                     1,108 
                                                                129,397 
Available-for-sale investment                                                       - 
                                                                184,423 
Intangible assets                                                             152,033 
                                                                648,446 
Goodwill                                                                      575,634 
                                                                  8,990 
Trade receivables                                                               7,199 
                                                      8 
                                                                  6,681 
Other receivables and prepayments                                               5,964 
                                                      9 
                                                                 23,722 
Deferred tax assets                                                            19,722 
                                                                     78 
Amount due from a director                                                          - 
Deposits paid for potential acquisitions of 
                                                                142,035 
  subsidiaries                                                                106,736 
 
                                                              1,421,319      1,130,631 
 
Current Assets 
                                                                  3,033 
Inventories                                                                     2,106 
                                                                 34,769 
Amounts due from customers for contract works                                  34,328 
                                                                254,622 
Trade receivables                                                             179,350 
                                                      8 
                                                                163,004 
Other receivables and prepayments                                             111,751 
                                                      9 
                                                                205,413 
Payments on behalf of residents                                               169,626 
                                                                 14,966 
Amounts due from fellow subsidiaries                                           46,548 
Amounts due from non-controlling shareholders of 
                                                                 75,934 
  the subsidiaries                                                             46,422 
                                                                  2,145 
Amounts due from related parties                                                7,228 
                                                                  1,318 
Amount due from an associate                                                    1,105 
                                                                     12 
Amount due from a director                                                          - 
Financial assets designated at fair value through 
                                                                 57,179 
  profit or loss ("FVTPL")                                                     19,200 
                                                                492,300 
Pledged/restricted bank deposits                                              551,383 
                                                                353,059 
Bank balances and cash                                                        419,478 
 
                                                              1,657,754      1,588,525 
 
 
 
 
                                              -4- 
 
 
 
 
 
 

3

3


 
 
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER 
COMPREHENSIVE INCOME 
FOR THE SIX MONTHS ENDED 30 JUNE 2016 
 
                                                       Six months ended 30 June 
                                                             2016            2015 
                                                          RMB'000 
                                               NOTES                     RMB'000 
                                                       (Unaudited)     (Unaudited) 
 
Profit for the period attributable to: 
                                                            73,467 
  Owners of the Company                                                     77,578 
                                                            11,552 
  Non-controlling interests                                                  6,571 
 
                                                            85,019          84,149 
 
Profit and total comprehensive income 
  attributable to: 
                                                           133,015 
  Owners of the Company                                                     77,578 
                                                            11,552 
  Non-controlling interests                                                  6,571 
 
                                                           144,567          84,149 
 
Earnings per share (RMB cents)                   7 
                                                              7.35 
  -- Basic                                                                     7.76 
 
                                                              7.35 
  -- Diluted                                                                   7.74 
 
 
 
 
                                         -3- 
 
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION 
AT 30 JUNE 2016 
 
                                                                30 June   31 December 
                                                                   2016          2015 
                                                              RMB'000 
                                                    NOTES                    RMB'000 
                                                            (Unaudited)      (Audited) 
 
Non-current Assets 
                                                                175,517 
Property, plant and equipment                                                 167,099 
                                                                 94,049 
Investment properties                                                          88,804 
                                                                  6,670 
Interests in associates                                                         6,332 
                                                                  1,311 
Interest in a joint venture                                                     1,108 
                                                                129,397 
Available-for-sale investment                                                       - 
                                                                184,423 
Intangible assets                                                             152,033 
                                                                648,446 
Goodwill                                                                      575,634 
                                                                  8,990 
Trade receivables                                                               7,199 
                                                      8 
                                                                  6,681 
Other receivables and prepayments                                               5,964 
                                                      9 
                                                                 23,722 
Deferred tax assets                                                            19,722 
                                                                     78 
Amount due from a director                                                          - 
Deposits paid for potential acquisitions of 
                                                                142,035 
  subsidiaries                                                                106,736 
 
                                                              1,421,319      1,130,631 
 
Current Assets 
                                                                  3,033 
Inventories                                                                     2,106 
                                                                 34,769 
Amounts due from customers for contract works                                  34,328 
                                                                254,622 
Trade receivables                                                             179,350 
                                                      8 
                                                                163,004 
Other receivables and prepayments                                             111,751 
                                                      9 
                                                                205,413 
Payments on behalf of residents                                               169,626 
                                                                 14,966 
Amounts due from fellow subsidiaries                                           46,548 
Amounts due from non-controlling shareholders of 
                                                                 75,934 
  the subsidiaries                                                             46,422 
                                                                  2,145 
Amounts due from related parties                                                7,228 
                                                                  1,318 
Amount due from an associate                                                    1,105 
                                                                     12 
Amount due from a director                                                          - 
Financial assets designated at fair value through 
                                                                 57,179 
  profit or loss ("FVTPL")                                                     19,200 
                                                                492,300 
Pledged/restricted bank deposits                                              551,383 
                                                                353,059 
Bank balances and cash                                                        419,478 
 
                                                              1,657,754      1,588,525 
 
 
 
 
                                              -4- 
 
 
 
 
 
 

4

4


 
 
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER 
COMPREHENSIVE INCOME 
FOR THE SIX MONTHS ENDED 30 JUNE 2016 
 
                                                       Six months ended 30 June 
                                                             2016            2015 
                                                          RMB'000 
                                               NOTES                     RMB'000 
                                                       (Unaudited)     (Unaudited) 
 
Profit for the period attributable to: 
                                                            73,467 
  Owners of the Company                                                     77,578 
                                                            11,552 
  Non-controlling interests                                                  6,571 
 
                                                            85,019          84,149 
 
Profit and total comprehensive income 
  attributable to: 
                                                           133,015 
  Owners of the Company                                                     77,578 
                                                            11,552 
  Non-controlling interests                                                  6,571 
 
                                                           144,567          84,149 
 
Earnings per share (RMB cents)                   7 
                                                              7.35 
  -- Basic                                                                     7.76 
 
                                                              7.35 
  -- Diluted                                                                   7.74 
 
 
 
 
                                         -3- 
 
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION 
AT 30 JUNE 2016 
 
                                                                30 June   31 December 
                                                                   2016          2015 
                                                              RMB'000 
                                                    NOTES                    RMB'000 
                                                            (Unaudited)      (Audited) 
 
Non-current Assets 
                                                                175,517 
Property, plant and equipment                                                 167,099 
                                                                 94,049 
Investment properties                                                          88,804 
                                                                  6,670 
Interests in associates                                                         6,332 
                                                                  1,311 
Interest in a joint venture                                                     1,108 
                                                                129,397 
Available-for-sale investment                                                       - 
                                                                184,423 
Intangible assets                                                             152,033 
                                                                648,446 
Goodwill                                                                      575,634 
                                                                  8,990 
Trade receivables                                                               7,199 
                                                      8 
                                                                  6,681 
Other receivables and prepayments                                               5,964 
                                                      9 
                                                                 23,722 
Deferred tax assets                                                            19,722 
                                                                     78 
Amount due from a director                                                          - 
Deposits paid for potential acquisitions of 
                                                                142,035 
  subsidiaries                                                                106,736 
 
                                                              1,421,319      1,130,631 
 
Current Assets 
                                                                  3,033 
Inventories                                                                     2,106 
                                                                 34,769 
Amounts due from customers for contract works                                  34,328 
                                                                254,622 
Trade receivables                                                             179,350 
                                                      8 
                                                                163,004 
Other receivables and prepayments                                             111,751 
                                                      9 
                                                                205,413 
Payments on behalf of residents                                               169,626 
                                                                 14,966 
Amounts due from fellow subsidiaries                                           46,548 
Amounts due from non-controlling shareholders of 
                                                                 75,934 
  the subsidiaries                                                             46,422 
                                                                  2,145 
Amounts due from related parties                                                7,228 
                                                                  1,318 
Amount due from an associate                                                    1,105 
                                                                     12 
Amount due from a director                                                          - 
Financial assets designated at fair value through 
                                                                 57,179 
  profit or loss ("FVTPL")                                                     19,200 
                                                                492,300 
Pledged/restricted bank deposits                                              551,383 
                                                                353,059 
Bank balances and cash                                                        419,478 
 
                                                              1,657,754      1,588,525 
 
 
 
 
                                              -4- 
 
 
 
 
 
 

5

5


 
 
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER 
COMPREHENSIVE INCOME 
FOR THE SIX MONTHS ENDED 30 JUNE 2016 
 
                                                       Six months ended 30 June 
                                                             2016            2015 
                                                          RMB'000 
                                               NOTES                     RMB'000 
                                                       (Unaudited)     (Unaudited) 
 
Profit for the period attributable to: 
                                                            73,467 
  Owners of the Company                                                     77,578 
                                                            11,552 
  Non-controlling interests                                                  6,571 
 
                                                            85,019          84,149 
 
Profit and total comprehensive income 
  attributable to: 
                                                           133,015 
  Owners of the Company                                                     77,578 
                                                            11,552 
  Non-controlling interests                                                  6,571 
 
                                                           144,567          84,149 
 
Earnings per share (RMB cents)                   7 
                                                              7.35 
  -- Basic                                                                     7.76 
 
                                                              7.35 
  -- Diluted                                                                   7.74 
 
 
 
 
                                         -3- 
 
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION 
AT 30 JUNE 2016 
 
                                                                30 June   31 December 
                                                                   2016          2015 
                                                              RMB'000 
                                                    NOTES                    RMB'000 
                                                            (Unaudited)      (Audited) 
 
Non-current Assets 
                                                                175,517 
Property, plant and equipment                                                 167,099 
                                                                 94,049 
Investment properties                                                          88,804 
                                                                  6,670 
Interests in associates                                                         6,332 
                                                                  1,311 
Interest in a joint venture                                                     1,108 
                                                                129,397 
Available-for-sale investment                                                       - 
                                                                184,423 
Intangible assets                                                             152,033 
                                                                648,446 
Goodwill                                                                      575,634 
                                                                  8,990 
Trade receivables                                                               7,199 
                                                      8 
                                                                  6,681 
Other receivables and prepayments                                               5,964 
                                                      9 
                                                                 23,722 
Deferred tax assets                                                            19,722 
                                                                     78 
Amount due from a director                                                          - 
Deposits paid for potential acquisitions of 
                                                                142,035 
  subsidiaries                                                                106,736 
 
                                                              1,421,319      1,130,631 
 
Current Assets 
                                                                  3,033 
Inventories                                                                     2,106 
                                                                 34,769 
Amounts due from customers for contract works                                  34,328 
                                                                254,622 
Trade receivables                                                             179,350 
                                                      8 
                                                                163,004 
Other receivables and prepayments                                             111,751 
                                                      9 
                                                                205,413 
Payments on behalf of residents                                               169,626 
                                                                 14,966 
Amounts due from fellow subsidiaries                                           46,548 
Amounts due from non-controlling shareholders of 
                                                                 75,934 
  the subsidiaries                                                             46,422 
                                                                  2,145 
Amounts due from related parties                                                7,228 
                                                                  1,318 
Amount due from an associate                                                    1,105 
                                                                     12 
Amount due from a director                                                          - 
Financial assets designated at fair value through 
                                                                 57,179 
  profit or loss ("FVTPL")                                                     19,200 
                                                                492,300 
Pledged/restricted bank deposits                                              551,383 
                                                                353,059 
Bank balances and cash                                                        419,478 
 
                                                              1,657,754      1,588,525 
 
 
 
 
                                              -4- 
 
 
 
 
 
 

6

6


 
 
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER 
COMPREHENSIVE INCOME 
FOR THE SIX MONTHS ENDED 30 JUNE 2016 
 
                                                       Six months ended 30 June 
                                                             2016            2015 
                                                          RMB'000 
                                               NOTES                     RMB'000 
                                                       (Unaudited)     (Unaudited) 
 
Profit for the period attributable to: 
                                                            73,467 
  Owners of the Company                                                     77,578 
                                                            11,552 
  Non-controlling interests                                                  6,571 
 
                                                            85,019          84,149 
 
Profit and total comprehensive income 
  attributable to: 
                                                           133,015 
  Owners of the Company                                                     77,578 
                                                            11,552 
  Non-controlling interests                                                  6,571 
 
                                                           144,567          84,149 
 
Earnings per share (RMB cents)                   7 
                                                              7.35 
  -- Basic                                                                     7.76 
 
                                                              7.35 
  -- Diluted                                                                   7.74 
 
 
 
 
                                         -3- 
 
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION 
AT 30 JUNE 2016 
 
                                                                30 June   31 December 
                                                                   2016          2015 
                                                              RMB'000 
                                                    NOTES                    RMB'000 
                                                            (Unaudited)      (Audited) 
 
Non-current Assets 
                                                                175,517 
Property, plant and equipment                                                 167,099 
                                                                 94,049 
Investment properties                                                          88,804 
                                                                  6,670 
Interests in associates                                                         6,332 
                                                                  1,311 
Interest in a joint venture                                                     1,108 
                                                                129,397 
Available-for-sale investment                                                       - 
                                                                184,423 
Intangible assets                                                             152,033 
                                                                648,446 
Goodwill                                                                      575,634 
                                                                  8,990 
Trade receivables                                                               7,199 
                                                      8 
                                                                  6,681 
Other receivables and prepayments                                               5,964 
                                                      9 
                                                                 23,722 
Deferred tax assets                                                            19,722 
                                                                     78 
Amount due from a director                                                          - 
Deposits paid for potential acquisitions of 
                                                                142,035 
  subsidiaries                                                                106,736 
 
                                                              1,421,319      1,130,631 
 
Current Assets 
                                                                  3,033 
Inventories                                                                     2,106 
                                                                 34,769 
Amounts due from customers for contract works                                  34,328 
                                                                254,622 
Trade receivables                                                             179,350 
                                                      8 
                                                                163,004 
Other receivables and prepayments                                             111,751 
                                                      9 
                                                                205,413 
Payments on behalf of residents                                               169,626 
                                                                 14,966 
Amounts due from fellow subsidiaries                                           46,548 
Amounts due from non-controlling shareholders of 
                                                                 75,934 
  the subsidiaries                                                             46,422 
                                                                  2,145 
Amounts due from related parties                                                7,228 
                                                                  1,318 
Amount due from an associate                                                    1,105 
                                                                     12 
Amount due from a director                                                          - 
Financial assets designated at fair value through 
                                                                 57,179 
  profit or loss ("FVTPL")                                                     19,200 
                                                                492,300 
Pledged/restricted bank deposits                                              551,383 
                                                                353,059 
Bank balances and cash                                                        419,478 
 
                                                              1,657,754      1,588,525 
 
 
 
 
                                              -4- 
 
 
 
 
 
 

7

7