力高健康生活：2025年中期报告

CONTENTS目錄 Corporate InformationFinancial HighlightsManagement Discussion and AnalysisCorporate Governance and Other InformationCondensed Consolidated Statement of Profit or LossCondensed Consolidated Statement of Profit or Loss andOther Comprehensive IncomeCondensed Consolidated Statement of Financial PositionCondensed Consolidated Statement of Changes in EquityCondensed Consolidated Statement of Cash FlowsNotes to Condensed Consolidated Financial Statements26721333435373941公司資料財務摘要管理層討論與分析企業管治及其他資料簡明綜合損益表簡明綜合損益及其他全面收益表簡明綜合財務狀況表簡明綜合權益變動表簡明綜合現金流量表簡明綜合財務報表附註 CORPORATE INFORMATION公司資料 董事會 BOARD OF DIRECTORS 非執行董事黃若青先生（主席） Non-executive DirectorMr. Huang Ruoqing(Chairman) 執行董事 Executive Directors 唐承勇先生（於二零二五年三月二十七日辭任總裁）黃燕雯女士黃燕琪女士 Mr. Tang Chengyong(Resigned as President on 27 March 2025)Ms. Wong Yin ManMs. Huang Yanqi 獨立非執行董事 Independent Non-executive Directors 周明笙先生施榮懷先生，銅紫荊星章，太平紳士劉與量先生 Mr. Chow Ming SangMr. Sze Irons,B.B.S, J.P.Mr. Lau Yu Leung 審核委員會 AUDIT COMMITTEE 周明笙先生（主席）施榮懷先生，銅紫荊星章，太平紳士劉與量先生 Mr. Chow Ming Sang(Chairman)Mr. Sze Irons,B.B.S, J.P.Mr. Lau Yu Leung REMUNERATION COMMITTEE 薪酬委員會 劉與量先生（主席）唐承勇先生施榮懷先生，銅紫荊星章，太平紳士 Mr. Lau Yu Leung(Chairman)Mr. Tang ChengyongMr. Sze Irons,B.B.S, J.P. 提名委員會 NOMINATION COMMITTEE Mr. Huang Ruoqing(ceased to be a member and the Chairmanon 20 June 2025)Mr. Sze Irons,B.B.S, J.P.(appointed as the Chairman on 20 June 2025) 黃若青先生（於二零二五年六月二十日不再擔任成員及主席）施榮懷先生，銅紫荊星章，太平紳士（於二零二五年六月二十日獲委任為主席）劉與量先生黃燕雯女士（於二零二五年六月二十日獲委任） Mr. Lau Yu LeungMs. Wong Yin Man(appointed on 20 June 2025) 公司秘書 COMPANY SECRETARY 陳宇軒先生 Mr. Chan Yu Hin 授權代表 AUTHORIZED REPRESENTATIVES 黃燕雯女士陳宇軒先生 核數師永拓富信會計師事務所有限公司執業會計師 AUDITOR SFAI (HK) CPA LimitedCertified Public Accountants LEGAL ADVISORS 法律顧問 香港法例：盛德國際律師事務所香港中環金融街 8 號國際金融中心二期39 樓 As to Hong Kong laws:Sidley Austin39th FloorTwo International Finance Centre8 Finance StreetCentral, Hong Kong As to Cayman Islands laws:Conyers Dill & Pearman29/F, One Exchange Square8 Connaught PlaceCentralHong Kong 開曼群島法律：Conyers Dill & Pearman香港中環康樂廣場 8 號交易廣場一期 29 樓 REGISTERED OFFICE 註冊辦事處 Cricket Square, Hutchins DriveP.O. Box 2681Grand Cayman, KY1-1111Cayman Islands Cricket Square, Hutchins DriveP.O. Box 2681Grand Cayman, KY1-1111Cayman Islands CORPORATE INFORMATION公司資料CORPORATE INFORMATION公司資料 總部及中國主要營業地點 HEADQUARTERS AND PRINCIPAL PLACE OF BUSINESS IN THE PRC 14th Floor, Redco BuildingTower 5, Qiaochengfang, Phase INo. 4080 Qiaoxiang RoadNanshan DistrictShenzhenPRC 中國深圳市南山區僑香路 4080 號僑城坊一期 5 號樓力高大廈 14 樓 香港主要營業地點 PRINCIPAL PLACE OF BUSINESS IN HONG KONG Room 2001-2Enterprise Square 339 Wang Chiu RoadKowloon BayKowloonHong Kong 香港九龍九龍灣宏照道 39 號企業廣場 3 期2001-2 室 股份過戶登記總處 PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE Conyers Trust Company (Cayman) LimitedCricket SquareHutchins DriveP.O. Box 2681, Grand Cayman, KY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket SquareHutchins DriveP.O. Box 2681, Grand Cayman, KY1-1111Cayman Islands 香港股份過戶登記處 HONG KONG SHARE REGISTRAR 香港中央證券登記有限公司香港灣仔皇后大道東 183 號合和中心 17 樓1712-1716 號舖 Computershare Hong Kong Investor Services LimitedShops 1712-171617th Floor, Hopewell Centre183 Queen’s Road East, WanchaiHong Kong 主要往來銀行 PRINCIPAL BANKS 中國銀行股份有限公司中國銀行（香港）有限公司東亞銀行有限公司恒生銀行有限公司招商銀行股份有限公司 Bank of China LimitedBank of China (Hong Kong) LimitedThe Bank of East Asia, LimitedHang Seng Bank LimitedChina Merchants Bank Co., Ltd 股份代號2370 STOCK CODE 2370 COMPANY’S WEBSITEwww.redcohealthy.com 公司網址www.redcohealthy.com MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析 MARKET REVIEW 市場回顧 2025 年 上 半 年， 物 業 管 理 行 業 正 經 歷 前所未有的市場變革。從房地產開發行業中進一步獨立的物業管理行業需要解決中央及地方政府對物業管理水平能力的高要求和物業管理行業發展現狀的矛盾，同時需要高效且快速融入黨和政府的基層治理網絡，客戶需求升級與智能科技深度融合亦逐步成為推動行業發展的核心驅動力。 In the first half of 2025, the property management industryunderwent an unprecedented market transformation. As the industryfurther separates from real estate development, it must resolve thecontradiction between the heightened requirements for managementcapabilities set by central and local governments and the currentstate of industry development. Simultaneously, it needs to efficientlyand swiftly integrate into the grassroots governance network of theCommunist Party of China and the government. The upgrading ofcustomer demands and the deep integration of smart technologyhave gradually become core drivers propelling the industry forward. In terms of the market landscape, industry consolidation isaccelerating. Leading enterprises are expanding their scale throughmergers and acquisitions, while small and medium-sized propertymanagement companies are seeking differentiated niches. Customerdemands have shifted from basic services to comprehensive lifestyleexperiences, with high-quality, personalized, and convenient servicesbecoming key factors for property owners in property selection. Inresponse to this shift, property management companies are activelytransitioning from a“management”role to a“service”role, buildingcommunity life service platforms