国锐生活二零二三年度中期报告

CONTENTS Corporate Information2Management Discussion and Analysis4General Information13Condensed Consolidated Statement of Profi t or Loss23Condensed Consolidated Statement ofComprehensive Income24Condensed Consolidated Statement ofFinancial Position25Condensed Consolidated Statement ofChanges in Equity27Condensed Consolidated Statement of Cash Flows29Notes to the Interim Condensed ConsolidatedFinancial Information31 CORPORATE INFORMATION EXECUTIVE DIRECTORS Mr. Wei Chunxian(Chairman and Chief Executive Officer)Mr. Sun ZhongminMs. Li Bing INDEPENDENT NON-EXECUTIVEDIRECTORS Mr. Tung Woon Cheung EricMs. To Tsz Wan VivienMr. Leung Louis Ho Ming COMPANY SECRETARY Ms. Lam Yuen Ling Eva(resigned on 7 June 2023)Mr. Lam Wai Kei(appointed on 7 June 2023) 20236 720236 7 AUDIT COMMITTEE Mr. Tung Woon Cheung Eric(Chairman of the Audit Committee)Ms. To Tsz Wan VivienMr. Leung Louis Ho Ming NOMINATION COMMITTEE Mr. Wei Chunxian(Chairman of the Nomination Committee)Mr. Tung Woon Cheung EricMr. Leung Louis Ho Ming REMUNERATION COMMITTEE Mr. Leung Louis Ho Ming(Chairman of the Remuneration Committee)Mr. Tung Woon Cheung EricMs. To Tsz Wan Vivien AUTHORISED REPRESENTATIVES Mr. Wei ChunxianMs. Lam Yuen Ling Eva(resigned on 7 June 2023)Mr. Lam Wai Kei(appointed on 7 June 2023) 20236 720236 7 AUDITOR 97927 Ernst & YoungCertified Public AccountantsRegistered Public Interest Entity Auditor27/F, One Taikoo Place979 King’s Road, Quarry BayHong Kong SOLICITORS Reed Smith Richards Butler LLP17/F, One Island EastTaikoo Place18 Westlands RoadQuarry BayHong Kong 1817 SHARE REGISTRAR Tricor Standard Limited17/FFar East Finance Centre16 Harcourt RoadHong Kong 1617 REGISTERED OFFICE Room 3505Tower One, Lippo CentreNo. 89 QueenswayHong Kong 893505 108 STOCK CODE108 www.grlifestyle.com.hk WEBSITEwww.grlifestyle.com.hk MANAGEMENT DISCUSSION AND ANALYSIS BUSINESS REVIEW (i)(ii) For the six months ended 30 June 2023 (the “Period”), theoperations of GR Life Style Company Limited (formerly known as GRProperties Limited) (the “Company”, together with its subsidiaries,the “Group”) were organised into business units based on the natureof their products and services. There were two reportable operatingsegments, including (i) the property management segment; and(ii) the property development and investment segment. The firstsegment was carried out in the People’s Republic of China (the“PRC”) whereas the second segment was carried out in the PRC,the United States of America (the “USA”) and the United Kingdom(the “UK”). Property management segment Beijing AOCEAN Property Management Company Limited* () (“AOCEAN”), a wholly-owned subsidiaryof the Company, provides property management services foroffice buildings, residential properties and car parks. As at 30 June2023, AOCEAN managed 17 major residential and commercialproperty projects, which were located in the PRC. The servicesprovided by AOCEAN under the management agreements include,inter alia, (i) provision of heating supply and maintenance servicesof heat exchange stations and pipeline network; (ii) provisionof management services to car parks such as maintenance ofvarious facilities and equipment in the car parks; and (iii) provisionof property management services to vacant properties andgeneral management services such as repair and maintenance ofbuildings and fire safety equipment and facilities for residential andcommercial property projects. 17(i)(ii)(iii) Adhering to the principle of being human-oriented, and perceivingthe market from the perspective of customers and market needs,AOCEAN has been improving and perfecting its managementsystem and continues to provide professional services to itscustomers. Property development and investment segment During the Period, the Group carried on its property developmentand investment business in the USA, the UK and the PRC. •Santa Monica project • 40,61525,00038,00019097%91% The Santa Monica project, located in Santa Monica, theCounty of Los Angeles, State of California, the USA, has atotal site area of approximately 40,615 square feet (the “USComplex”). According to the land title, the developmentfor the site is a mixed-use three stories development.Total rentable/saleable floor area is approximately 25,000square feet for commercial use and 38,000 square feet forresidential use and there are 190 on – site subterraneanparking spaces. 97% of the commercial area and 91% of theresidential area have been leased out, respectively, duringthe Period. The plan for the Santa Monica project is to leaseout all the commercial units and the residential units. •Culver City project • Culver City project is a 36,319 square feet redevelopmentsite located at the south corner of Washington Boulevardand Motor Avenue in Culver City, Los Angeles County,California, the USA. The land title allows for the developmentof 139 residential units, of which 14 units would be incomerestricted for residents at the extremely low income le