国锐生活二零二四年度中期报告

CONTENTS Corporate Information2Management Discussion and Analysis4General Information13Condensed Consolidated Statement of Profi t or Loss25Condensed Consolidated Statement ofComprehensive Income26Condensed Consolidated Statement ofFinancial Position27Condensed Consolidated Statement ofChanges in Equity29Condensed Consolidated Statement of Cash Flows31Notes to the Interim Condensed ConsolidatedFinancial Information33 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 SECRETARYMr. Lam Wai Kei 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 ChunxianMr. Lam Wai Kei 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 1617 Tricor Standard Limited17/FFar East Finance Centre16 Harcourt RoadHong Kong 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 2024 (the “Period”), theoperations of the GR Life Style Company Limited (the “Company”,together with its subsidiaries, the “Group”) were organised intobusiness units based on the nature of their products and services.There were two reportable operating segments, including (i) theproperty management segment; and (ii) the property developmentand investment segment. The first segment was carried out inthe People’s Republic of China (the “PRC”) whereas the secondsegment was carried out in the PRC, the United States of America(the “USA”) and the United Kingdom (the “UK”). Property management segment 17(i)(ii)(iii) Beijing AOCEAN Property Management Company Limited* (), (“AOCEAN”), a wholly-owned subsidiaryof the Company, provides property management and otherservices for office buildings, residential properties and car parks.As at 30 June 2024, AOCEAN managed 17 major residential andcommercial property projects, which were 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. 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 40,61525,00038,00019091%90% 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. Totalrentable/saleable floor area is approximately 25,000 squarefeet for commercial use and 38,000 square feet for residentialuse and there are 190 on-site subterranean parking spaces.Approximate average of 91% of the commercial area andapproximate average of 90% of the residential area havebeen leased out during the Period. The plan for the SantaMonica project is to lease out all the commercial units andthe residential units. • •Culver City project 36,319Washington BoulevardMotor Avenue139141,969 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 level,and 1,969 square feet of ground floor would be commercialspace. Its construction started since September 2021. The directors of t