CMON Limited — Interim / Quarterly Report 2021

Sep 9, 2021

• 2 Corporate Information 公司資料
• 4 Management Discussion and Analysis 管理層討論與分析

Interim Financial Information 中期財務資料

• 16 Condensed Consolidated Statement of Profit or Loss 簡明綜合損益表
• 18 Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income 簡明綜合損益及其他全面收益表
• 19 Condensed Consolidated Statement of Financial Position 簡明綜合財務狀況表
• 21 Condensed Consolidated Statement of Changes in Equity 簡明綜合權益變動表
• 22 Condensed Consolidated Statement of Cash Flows 簡明綜合現金流量表
• 23 Notes to the Condensed Consolidated Financial Statements 簡明綜合財務報表附註
• 47 Other Information 其他資料
• 50 Glossary 專用詞彙

Corporate Information 公司資料

DIRECTORS

Executive Directors Mr. Zhang Jing Ming, Chairman Mr. Chau Ting Yan Mr. Leng Xiao Rong

Non-executive Directors Mr. Ye Zhi E Mr. Yin Zong Chen

Independent Non-executive Directors

Mr. Luo Zhuo Qiang Mr. Guo Lu Jin Ms. Gao Hong Hong

CHIEF EXECUTIVE OFFICER

Mr. Huang Chunfeng

AUDIT COMMITTEE

Mr. Luo Zhuo Qiang (Chairman) Mr. Yin Zong Chen Ms. Gao Hong Hong

REMUNERATION COMMITTEE

Mr. Guo Lu Jin (Chairman) Mr. Luo Zhuo Qiang Mr. Ye Zhi E

NOMINATION COMMITTEE

Mr. Zhang Jing Ming (Chairman) Mr. Guo Lu Jin Ms. Gao Hong Hong

SUPERVISORS

Mr. Wang Xing Ye (Chairman) Mr. Chen Jun Feng Mr. Fang Wei Ran Mr. Zhang Yun Feng Mr. Zheng Ze Jian (appointed on 11 February 2021) Ms. Huang Yong Jing (resigned on 11 February 2021)

董事

執行董事 張敬明先生,主席 周霆欣先生 冷小榮先生

非執行董事 葉智鍔先生 尹宗臣先生

獨立非執行董事 羅卓強先生

郭魯晉先生 高紅紅女士

行政總裁

黃春鋒先生

審核委員會 羅卓強先生(主席) 尹宗臣先生 高紅紅女士

薪酬委員會

郭魯晉先生(主席) 羅卓強先生 葉智鍔先生

提名委員會

張敬明先生(主席) 郭魯晉先生 高紅紅女士

監事

王興業先生(主席) 陳俊峰先生 方偉然先生 張運峰先生 鄭澤健先生(於2021年2月11日獲委任) 黃永菁女士(於2021年2月11日辭任)

Corporate Information 公司資料

JOINT COMPANY SECRETARIES

Mr. Chung Man Wai, Stephen Ms. Qian Fang Fang

AUTHORISED REPRESENTATIVES

Mr. Zhang Jing Ming Mr. Chung Man Wai, Stephen

AUDITOR

Asian Alliance (HK) CPA Limited Certified Public Accountants Registered Public Interest Entity Auditor

REGISTERED OFFICE

No. 1–4, 20A, Central Street Shenyang Economic and Technological Development Zone People's Republic of China

H SHARE REGISTRAR AND TRANSFER OFFICE

Hong Kong Registrars Limited Rooms 1712–16, 17th Floor Hopewell Centre 183 Queen's Road East Wanchai Hong Kong

PRINCIPAL BANKERS

China Merchants Bank Bank of China Industrial and Commercial Bank of China China Construction Bank

STOCK CODE

747

WEBSITE www.shenyang747.com

聯席公司秘書 鍾文偉先生

錢芳芳女士

授權代表

張敬明先生 鍾文偉先生

核數師

華融(香港)會計師事務所有限公司 執業會計師 註冊公眾利益實體核數師

註冊辦事處

中華人民共和國 瀋陽經濟技術開發區 中央大街20甲1–4號

H股份過戶登記處

香港證券登記有限公司 香港 灣仔 皇后大道東183號 合和中心 17樓1712–16室

主要往來銀行

招商銀行 中國銀行 工商銀行 建設銀行

股份代號

747

網址 www.shenyang747.com

FINANCIAL REVIEW

During the Period, the revenue of the Group amounted to approximately RMB43,373,000 (2020 Corresponding Period: RMB199,000), representing a significant increase in revenue comparing with that of the 2020 Corresponding Period. The substantial increase in revenue is mainly due to the increase in revenue generated from the construction of infrastructure and development of properties in the PRC.

Profit before tax from continuing operations of the Group for the Period amounted to RMB6,619,000, representing an increase of 366.04% as compared with loss before tax from continuing operations of RMB2,488,000 for the 2020 Corresponding Period. The profit was mainly attributable to, among other things, the combined effect of the following: (i) the gain on disposal of subsidiaries; and (ii) the increase in impairment losses under expected credit loss model, net of reversal. Earnings per Share was approximately RMB0.0064 (2020 Corresponding Period: basic loss per Share of RMB0.0016).

BUSINESS REVIEW

Infrastructure Construction Business

The infrastructure construction business is one of the principal businesses of the Group. Zhongfang Chaozhou, a whollyowned subsidiary of the Company, which principally engages in infrastructure construction in the PRC. Conventionally, the Group, being a contractor, will be responsible for (i) raising and financing the development cost of the construction projects; (ii) launching construction; and (iii) supervising the construction procedures and quality control. Upon completion of the construction project, the infrastructure will be repurchased by the government department or private company such that revenue can be recognised in this regard.

The settlement of the main portion of Zhongfang Chaozhou Jing Nan Industrial Park Project (the "Project") has not been completed during the year ended 31 December 2020 due to the impact of COVID-19. During the Period, the Group recorded the revenue of approximately RMB43,144,000 for Chaoshang Road, Xinwang Road, Huoju Road and LS temporary drainage works (the "Three Roads and One Drainage Project").

財務回顧

於 本 期,本 集 團 實 現 收 益 約 為 人 民 幣 43,373,000元( 2020年同期:人民幣199,000 元),較2020年同期收益有大幅上升。收益大 幅上升主要是由於基礎設施建設及物業發展 之收入上升所致。

本集團於本期來自持續經營之除稅前溢利為 人民幣6,619,000元,較2020年同期來自持續 經營的除稅前虧損人民幣2,488,000元增加 366.04%。溢利主要由於(其中包括)下列(i) 出售附屬公司之收益;及(ii)預期信貸虧損模 式項下的減值虧損(扣除撥回)增加之綜合影 響。每股盈利約為人民幣0.0064元( 2020年 同期:每股基本虧損人民幣0.0016元)。

業務回顧

基礎設施建設業務

基礎設施建設業務是本集團的主要業務之 一。本公司的全資附屬公司中房潮州主要於 中國從事基礎設施建設。按照慣例,本集團 作為承包商,將負責(i)籌集及資助建設項目 的開發成本;(ii)啟動建設;及(iii)監督建設程 序及質量控制。建設項目完成後,基礎設施 將由政府部門或私人公司購回,以便可在該 方面確認收入。

中房潮州徑南工業園項目(「該項目」)主體工 程的結算工作由於受2019冠狀病毒影響於 截至2020年12月31日止年度內未完成。於期 內,本集團錄得潮商路、新旺路、火炬路及LS 臨時排水工程(「三路一排工程」)的收益約為 人民幣43,144,000元。

Discussion between Chaozhou Jinshan and Zhongfang Chaozhou in relation to the Project has been interrupted in the first half year of 2020. Mandatory lockdown was introduced in some cities in the PRC which inevitably delayed certain settlement work. Since there was a change of the management in Chaozhou Jinshan in February 2021, new management of Chaozhou Jinshan needed to take additional time to take over the settlement proceeding of the Project. In terms of the project volumes and amounts, there are some discrepancies of opinion between the third-party review agency and Zhongfang Chaozhou. As such, Zhongfang Chaozhou has been providing supplemental information to demonstrate the progress and work done for further discussion to minimise such discrepancy. Zhongfang Chaozhou is actively communicating with the relevant parties. If there is no material dispute between all parties on settlement review data, the settlement proceeding of the main part of the Project is expected to be completed within 2021.

The completion of acceptance of the Three Roads and One Drainage Project was delayed to 26 January 2021 due to problems with the land registration procedures for the Huoju Road extension portion and personnel changes of the relevant persons in charge. On 24 March 2021, Chaozhou Jinshan agreed to repurchase the Three Roads and One Drainage Project. The Group will still actively maintain smooth and effective communication with Chaozhou Jinshan and all relevant institutions and spare no effort to facilitate the settlement and delivery of the remaining construction land as soon as possible.

The construction of Xinxing Road*(新興路)has been completed, and is preparing for acceptance, which is expected to take place within 2021. The Group will spare no effort to maintain smooth and effective communication with Chaozhou Jinshan and all relevant parties to actively push ahead the settlement proceeding of the main part of the Project and the delivery of the remaining construction land as soon as possible.

The Group is from time to time searching for opportunities to reinforce its financial strength. It will explore suitable investment and construction projects through strong connections of the management and public and private tenders.

於2020年上半年,潮州金山與中房潮州之間 關於該項目的討論被中斷。中國的一些城市 實行了強制性封鎖,不可避免地推遲了若干 結算工作。由於潮州金山的管理層於2021 年2月發生了變化,潮州金山的新管理層需 要花更多的時間來接管該項目的結算程序。 在工程量及金額方面,第三方審查機構與中 房潮州之間存在一些意見上的分歧。因此, 中房潮州一直在提供補充資料,以證明已完 成的進展及工作,以便進一步討論,儘量減 少有關分歧。中房潮州正緊鑼密鼓與各方溝 通。在各方對結算評審數據無重大分歧的情 況下,該項目主體工程的結算工作有望於 2021年內完成。

三路一排工程因火炬路擴建部分土地登記程 序問題及相關負責人發生人事變動而延遲至 2021年1月26日完成驗收。2021年3月24日潮 州金山同意回購三路一排工程。本集團仍將 積極與潮州金山及各相關機構保持順暢有效 的溝通,不遺餘力地促進剩餘建設用地的結 算及交付工作儘快完成。

新興路建設工作已完成,正準備驗收並預計 將於2021年內完成。本集團將不遺餘力地與 潮州金山及相關各方保持順暢有效的溝通, 盡快積極推進該項目主體工程的結算程序及 剩餘建設用地的交付。

本集團不時尋找機會以加強其財務實力。其 將通過管理層的強大關係以及公共及私人招 標來發掘合適的投資及建設項目。

* For identification purpose only

* 僅供識別

Property Investment Business

The Group's property investment business is mainly distributed in the cities such as Guangzhou, Beijing, Shennongjia and Sanhe. The Company identifies potential properties for investment purposes from time to time to receive rental income and may enjoy potential property appreciation income in the future. The Group currently owns 125 properties located in the Zhiying Commercial Center in Liangxiang Higher Education Park, Fangshan, Beijing, a store unit in Guangzhou, a commercial property in Shunyi, Beijing and a 60% equity interest of Shennongjia Hotel located in Shennongjia, which provides tourism and hotel services. As at the date hereof, certain properties of the Group are under construction.

During the Period, certain properties of the Group have generated rental income and recorded rental income of RMB229,000 (2020 Corresponding Period: RMB199,000).

Reference is made to the announcement of the Company dated 16 October 2020, the Group acquired 60% equity interest of Shennongjia Hotel. The Group plans to build a high-end hotel with a construction area of approximately 48,000 sq.m. in Ping Qian Ancient Town, Da Jiu Hu, Shennongjia, which is expected to start operations in 2024.

The detailed development plan of the Shennongjia Hotel has been finalised and currently, the Group has started the construction of the Shennongjia Hotel. The Group plans to build a high-end hotel, and it will take few years to complete as the construction area is approximately 48,000 sq.m..

Upon completion of the construction, the Group may itself engage in the management and operation of the Shennongjia Hotel, or license to a property management company to manage and operate the Shennongjia Hotel, if thought fit. On the other hand, the Group may sell some properties to buyers.

There are two types of business models in the property investment business, including (i) acquisition and construction, which after acquiring the land, the Company takes part in the construction project and builds residential or commercial buildings for selling and leasing; and (ii) acquisition for selling and/or leasing, which the Company acquires suitable and potential properties which are ready for selling and leasing. As such, revenue can be recognised through earning the price difference between the buying and selling price. The Group can also record rental incomes from the leasing of the properties. The Group will continue to identify potential property investment projects.

物業投資業務

本集團物業投資業務主要分佈於廣州、北 京、神農架及三河等城市。本公司不時尋找 用於投資用途的有潛力的物業,以收取租金 收入,並可能於未來享受潛在的物業增值收 益。本集團目前擁有位於北京房山良鄉高教 園內的智盈商業中心125套物業、位於廣州 的一個商鋪單位、位於北京順義的一處商用 物業及位於神農架的提供旅遊酒店服務的— 神農架賓館60%股權。於本報告日期,本集 團之部分物業正在建設。

於本期,本集團之部分物業已產生租金收入 並錄得租金收益人民幣229,000元(2020年同 期:人民幣199,000元)。

茲提述本公司日期為2020年10月16日的公 告,本集團收購了神農架賓館60%的股權。 本集團計劃於神農架大九湖坪阡古鎮興建建 築面積約為48,000平方米的高檔酒店,預計 於2024年開始運營。

神農架賓館的詳細開發計劃已最終確定,目 前,本集團已開始建設神農架賓館。本集團 計劃建設一個高檔酒店且將花費幾年的時 間才能完成,因為建築面積約為48,000平方 米。

建設完成後,如果認為合適,本集團可自行 從事神農架賓館的管理及經營,或授權物業 管理公司管理及經營神農架賓館。另一方 面,本集團可能將部分物業出售予買方。

物業投資業務有兩類業務模式,包括(i)收購 及建設,於收購土地後,本公司參與建設項 目並建造用於出售及租賃的住宅或商業樓 宇;及(ii)為出售及/或租賃而進行收購,本 公司收購準備用於出售及租賃的合適及有潛 力的物業。因此,收入可通過賺取購買及銷 售價格之間的價格差來確認。本集團亦可記 錄來自物業租賃的租金收入。本集團將繼續 物色潛在的物業投資項目。

BUSINESS PROSPECTS

Affected by the pandemic in 2021, the global economy continued to be in the doldrums, the Group will adhere to the development objective of making steady progress, and continue to maintain its core competitiveness. The Group will actively respond to the state's policy of increasing infrastructure investment and push ahead the development of existing projects. The Company will maintain its core business, improve the Group's ability to resist risks, and at the same time promote the operation of existing property projects and open up new profit points.

The Work of Old Area Renovation has been a hot topic recently in the PRC, in which focusing on improving support facilities for housing estates and government services, and beefing up service for elderly residents, medical services and others. In order to renovate the old urban residential areas, reconstruction of infrastructures and properties must be involved. As such, the Directors are of the view that there will be more tenders offered by county government of the PRC, or more contractors searching for investments or sub-contractors for the construction of properties. Other than renovating old urban residential areas, some projects may involve rural area development. Opportunities for acquiring the land for construction will also be increased. Also, with strong connection of the management of the Company, the Directors believe that there will be more opportunities for investment or construction in the future. In addition, the Board will continue to devote efforts to explore various investment opportunities and enhance the Group's market competitiveness.

LIQUIDITY AND FINANCIAL RESOURCES

As at 30 June 2021, the Group's total assets amounted to RMB840,240,000 (31 December 2020: RMB898,130,000), representing a decrease of 6.45%. As at 30 June 2021, the non-current assets and current assets were RMB501,648,000 (31 December 2020: RMB513,724,000) and RMB338,592,000 (31 December 2020: RMB384,406,000), respectively. The assets were financed by current liabilities of RMB149,673,000 (31 December 2020: RMB213,401,000) and shareholders' funds of RMB686,868,000 (31 December 2020: RMB678,036,000).

業務展望

2021年受疫情影響,全球經濟持續低迷,本 集團將堅持穩中求進的發展目標,並繼續保 持核心競爭力。本集團積極響應國家加大基 礎設施建設投資的政策,努力推動既有項目 發展。本公司將保持核心業務,提高本集團 抗禦風險能力,同時推進現有物業項目的運 營,開闢新的贏利點。

舊區改造工作是中國最近的一個熱門話題, 其中重點是改善住宅區的配套設施及政府服 務,加強對老年居民的服務、醫療服務及其 他領域。為改造城市舊住宅區,必須涉及基 礎設施及物業的重建。因此,董事認為,中國 的縣級政府將提供更多的招標,或者將出現 更多尋求投資的承包商或尋求物業建設的分 包商。除城市舊住宅區改造以外,部分項目 可能涉及農村地區的開發。獲得建設用地的 機會也將增加。此外,憑藉本公司管理層強 大的關係網,董事相信未來將有更多的投資 或建設機會。此外,董事會將繼續努力發掘 各種投資機會及提高本集團的市場競爭力。

流動資金與財務資源

於2021年6月30日,本集團的資產總值為人 民幣840,240,000元( 2020年12月31日:人 民幣898,130,000元),下降6.45%。於2021年 6月30日,非流動資產及流動資產分別為人 民幣501,648,000元( 2020年12月31日:人 民幣513,724,000元)及人民幣338,592,000 元( 2020年12月31日:人民幣384,406,000 元)。資產以流動負債人民幣149,673,000元 ( 2020年12月31日:人民幣213,401,000元) 及股東資金人民幣686,868,000元(2020年12 月31日:人民幣678,036,000元)撥付。

With a prudent financial management policy and a solid financial position, the working capital of the Group is usually financed by its internally generated resources. As of 30 June 2021, the Group had net current assets of approximately RMB188,919,000 (2020: RMB171,005,000), including cash and cash equivalents of RMB6,645,000 (2020: RMB2,343,000).

As of 30 June 2021, the Group had no bank borrowings. The Group's current ratio (current assets/current liabilities) and gearing ratio (total liabilities/total assets) was 2.26 times (2020: 1.8 times) and 0.18 times (2020: 0.24 times), respectively.

MATERIAL ACQUISITION AND DISPOSAL OF SUBSIDIARIES AND ASSOCIATES

Pre-acquisition of property in Beijing PRC

On 15 November 2016, Beijing Shen Shang, being the subscriber, entered into the pre-acquisition agreement with Beijing Zhong Tou, pursuant to which Beijing Zhong Tou agreed to sell and Beijing Shen Shang agreed to acquire a property at a total consideration of RMB152,800,000. The property is a commercial premise with the construction area of 2,800 sq.m., with the right to use its car parks of 5,000 sq.m. at the basement level two, being part of Phase 3 of the ancillary facility project of the Beijing International Zone Convention Center*(北京會展國際港 展館)to be constructed in Beijing Shunyi District Tianzhu Airport Commercial Zone*(北京市順義區天竺空港商務區)(the"Beijing Property"). Please refer to the announcement of the Company dated 15 November 2016 for details.

On 26 March 2018, Beijing Shen Shang and Beijing Zhong Tou entered into a supplemental agreement in relation to the preacquisition agreement to postpone the date of the acceptance and transfer of the Beijing Property to 31 December 2019. The pre-sale permit for the project has been obtained on 17 August 2018.

本集團遵循審慎財務管理政策以及擁有良好 的財務狀況,一般以內部產生之資源作為營 運資金。於2021年6月30日,本集團擁有流動 資產淨值約人民幣188,919,000元( 2020年: 人民幣171,005,000元),其中包括現金及現 金等價物人民幣6,645,000元( 2020年:人民 幣2,343,000元)。

於2021年6月30日,本集團並無銀行貸款。本 集團的流動比率(流動資產╱流動負債)及資 產負債比率(總負債╱總資產)分別為2.26倍 ( 2020年:1.8倍)及0.18倍( 2020年:0.24 倍)。

重大收購及出售附屬及聯營公司

預購於中國北京的物業

於2016年11月15日,北京瀋商(即認購方)與 北京中投訂立預購協議,據此,北京中投同 意出售及北京瀋商同意收購物業,總代價 為人民幣152,800,000元。物業為建築面積 2,800平方米並有權使用其地下負二層5,000 平方米停車場之商用物業,即位於北京市順 義區天竺空港商務區將興建的北京會展國際 港展館配套設施項目3期的一部分(「北京物 業」)。有關詳情載於本公司日期為2016年11 月15日的公告。

於2018年3月26日,北京瀋商與北京中投就 預購協議訂立補充協議以推遲北京物業驗 收交付日期至2019年12月31日。該項目已於 2018年8月17日取得預售許可證。

* For identification purpose only

However, due to multiple factors including the 70th anniversary of the National Day, important meetings and the haze days, the construction was suspended at the request of the government, resulting in the postponement of completion. Coupling with the impact of the pandemic in 2020, the progress of the subsequent construction has been affected, resulting in the completion of construction and delivery of the Beijing Property has not yet been completed.

On 20 May 2020, Beijing Shen Shang and Beijing Zhong Tou entered into a supplemental agreement to further postpone the date of the completion of construction and delivery of the Beijing Property to 30 June 2021 due to the outbreak of coronavirus, and Beijing Shen Shang agreed to exempt the penalty of Beijing Zhong Tou for the delay of the completion of construction. On 7 June 2021, Beijing Shen Shang received a notice on extension of completion from Beijing Zhong Tou. Due to the impact of the epidemic and prevention and control, the completion inspection of the Beijing Property is expected to be completed on or before 30 June 2022. Currently, Beijing Zhong Tou is stepping up its construction.

As at the date hereof, the transaction is still in progress.

Adjustment to the transaction model of acquisition of properties in Hebei Province

On 9 February 2018 (after trading hours), Beijing Shen Shang and San He Jing Jiao entered into an agreement (the "Property Acquisition Agreement") pursuant to which San He Jing Jiao has conditionally agreed to sell, and Beijing Shen Shang has conditionally agreed to acquire, the properties at the cash consideration of RMB110,000,000. The properties, comprise 11 shop units (including Shop No. 5-1–101, 5-1–102, 5-1–103, 5-1–104, 5-5–111, 5-5–112, 5-5–222, 5-5–223, 5-5–324, 5-5–425, 5-5–426) with a total gross floor area of approximately 3,168 sq.m. together with 60 car parking spaces (No. 001–005, 008–010, 012–024, 027–029, 032–034, 036–055, 059–071) on basement level of Phase 5 of Tian Zi Zhuang Yuan(天子莊園), located at Yanjiao National High-Tech Industrial Development Area, Sanhe City, Hebei Province. San He Jing Jiao and Beijing Shen Shang shall have completed and performed all of their respective obligations under the Property Acquisition Agreement no later than 9 August 2018, or such later date as the parties may agree in writing.

然而,由於國慶70週年、重大會議及霧霾天 等多重因素影響,工程應政府要求暫停施 工,導致延長竣工。加上2020年疫情影響,其 後工程進度受阻,導致北京物業的竣工及交 付尚未完成。

於2020年5月20日,由於爆發疫情,北京瀋商 與北京中投訂立補充協議,將北京物業的竣 工交付日期進一步推遲至2021年6月30日, 而北京瀋商同意豁免北京中投延遲竣工的 罰款。2021年6月7日,北京瀋商收到北京中 投竣工延期通知函。由於受疫情及防控的影 響,北京物業竣工驗收預計將於2022年6月 30日或之前完成。目前北京中投正在抓緊建 設中。

於本報告日期,該交易仍在進行當中。

調整收購河北省物業交易模型

於2018年2月9日(交易時段後),北京瀋商與 三河京郊訂立一份協議(「物業收購協議」), 據此,三河京郊有條件同意出售,而北京瀋 商有條件同意收購該等物業,現金代價為人 民幣110,000,000元。該等物業包括於河北省 三河市燕郊國家高新技術產業開發區天子莊 園五期11個商舖單位(包括第5-1–101 、5-1– 102 、5-1–103 、5-1–104 、5-5–111 、5-5–112 、5-5–222 、5-5–223 、5-5–324 、5-5–425 、 5-5–426號舖),總建築面積約3,168平方米, 連同地庫的60個停車位(第001-005 、008- 010 、012-024 、027-029 、032-034、036- 055、059-071號)。三河京郊與北京瀋商須於 2018年8月9日前(或各訂約方可能以書面協 定之其他較後日期)完成及履行彼等於物業 收購協議項下全部的相關責任。

On 17 August 2018, Beijing Shen Shang entered into a supplemental agreement with San He Jing Jiao to extend the long stop date to 31 December 2018.

On 18 March 2019, San He Jing Jiao and Beijing Shen Shang entered into the compensation agreement pursuant to which it was agreed that San He Jing Jiao shall additionally deliver the rights to use one car parking space as compensation for delay in processing the real property ownership certificate. The application of real property ownership certificate was completed in April 2019.

On 5 August 2019, San He Jing Jiao and Beijing Shen Shang entered into the termination agreement with respect to the Property Acquisition Agreement and compensation agreement to proceed with.

On 28 October 2019, Shenzhen Shenhe and Shanghai Wanbang Enterprise Group Company Limited*(上海萬邦企業集團 有限公司)("Shanghai Wanbang"), Shenzhen Wanbang Real Estate Company Limited*(深圳市萬邦置業有限公司) ("Shenzhen Wanbang") and Shenzhen Zhaowanda Investment Company Limited*(深圳市兆萬達投資有限公司)("Shenzhen Zhaowanda") entered into the sale and purchase agreement, pursuant to which Shenzhen Shenhe has conditionally agreed to purchase and the vendors have conditionally agreed to sell the sale Shares, representing 78% equity interest of San He Jing Jiao at the consideration of RMB321,000,000. San He Jing Jiao is currently engaged in a property development project, namely Tian Zi Zhuang Yuan(天子莊園). It is a large scale residential development project developed on a site formed by various parcels of land with a total land area of approximately 300,243.3 sq.m. located at the northern side of Jingha Road(京哈路)within Yanjiao National High-Tech Industrial Development Area, Sanhe City.

於2018年8月17日,北京瀋商與三河京郊簽 訂一份補充協議,將最後完成期限延至2018 年12月31日。

於2019年3月18日,三河京郊與北京瀋商簽 訂補償協議,據此,約定三河京郊額外交付1 個停車位使用權作為延期辦理物業不動產權 利證書的補償。不動產權利證書已於2019年 4月辦理完成。

於2019年8月5日,三河京郊與北京瀋商就物 業收購協議及補償協議簽訂終止協議。

於2019年10月28日,深圳深合與上海萬邦企 業集團有限公司(「上海萬邦」)、深圳市萬邦 置業有限公司(「深圳萬邦」)及深圳市兆萬達 投資有限公司(「深圳兆萬達」)訂立買賣協 議,據此,深圳深合有條件同意購買而賣方 有條件同意出售待售股份(相當於三河京郊 78%股權),代價為人民幣321,000,000元。三 河京郊現時從事一項名為天子莊園之物業開 發項目。其為一項大型住宅開發項目,涉及 於三河市燕郊國家高新技術產業開發區內京 哈路北側總面積約300,243.3平方米之多幅 土地上進行開發。

* For identification purpose only

On 24 August 2020, Shanghai Wanbang, Shenzhen Wanbang, Shenzhen Zhaowanda, Shenzhen Shenhe, San He Jing Jiao and Beijing Shen Shang entered into a termination agreement to (i) terminate the sale and purchase agreement dated 28 October 2019; (ii) Shanghai Wanbang shall refund the paid deposit of RMB110,000,000 to Shenzhen Shenhe; and (iii) Beijing Shen Shang and San He Jing Jiao shall resume the sale and purchase of the properties by entering into the second supplemental agreement.

On 28 February 2021, Beijing Shen Shang and San He Jing Jiao have agreed and entered into an extension agreement to extend the completion date of the second supplemental agreement and the transactions contemplated thereunder from 28 February 2021 to 28 May 2021.

Please refer to the announcements of the Company dated 9 February 2018, 5 August 2019, 28 October 2019, 18 November 2019, 20 December 2019, 31 December 2019, 6 February 2020, 11 March 2020, 15 April 2020, 15 May 2020, 15 June 2020, 15 July 2020, 14 August 2020, 24 August 2020, 14 September 2020, 9 October 2020, 23 October 2020, 30 November 2020, 30 December 2020, 25 January 2021, 25 February 2021, 1 March 2021 and 16 March 2021 and the circular of the Company dated 26 February 2021 for details.

The acquisition of the properties from San He Jing Jiao has been completed on 16 March 2021.

於2020年8月24日,上海萬邦、深圳萬邦、深 圳兆萬達、深圳深合、三河京郊及北京瀋商 訂立終止協議,以(i)終止日期為2019年10月 28日的買賣協議;(ii)上海萬邦須向深圳深合 退還已付訂金人民幣110,000,000元;及(iii)北 京瀋商與三河京郊須透過訂立第二份補充協 議恢復買賣該等物業。

2021年2月28日,北京瀋商與三河京郊已同 意並訂立延期協議,將第二份補充協議及其 項下擬進行的交易的完成日期由2021年2月 28日延長至2021年5月28日。

詳情請參閱本公司日期分別為2018年2月9 日、2019年8月5日、2019年10月28日、2019 年11月18日、2019年12月20日、2019年12 月31日、2020年2月6日、2020年3月11日、 2020年4月15日、2020年5月15日、2020年6 月15日、2020年7月15日、2020年8月14日、 2020年8月24日、2020年9月14日、2020年10 月9日、2020年10月23日、2020年11月30日、 2020年12月30日、2021年1月25日、2021年 2月25日、2021年3月1日及2021年3月16日 的公告與本公司日期為2021年2月26日的通 函。

三河京郊物業已於2021年3月16日完成收 購。

Acquisition of 60% equity interest of Shennongjia Hotel

On 16 October 2020 (after trading hours), Shenzhen Ju Sheng Chuang Jian Investment and Development Limited*(深圳市聚 晟創建投資發展有限公司)("Shenzhen Ju Sheng"), a whollyowned subsidiary of the Company, entered into the equity transfer agreement with Shenzhen Apple Culture Media Company Limited* (深圳市蘋果文化傳媒有限公司)("Apple Culture"), pursuant to which Apple Culture conditionally agreed to sell and Shenzhen Ju Sheng conditionally agreed to acquire 60% equity interest of Shennongjia Hotel, and the entire amount of the shareholder's loan owing by Shennongjia Hotel to Apple Culture as at 31 July 2020 at an aggregate consideration of RMB35,000,000.

Shennongjia Hotel holds the land use rights of two parcels of adjoining land, with a total site area of approximately 35,506 sq.m. located in Ping Qian Ancient Town, Da Jiu Hu, Shennongjia Forestry District, Hubei Province, the PRC* (湖北省神農架林 區大九湖坪阡古鎮) for commercial hotel service use. Upon completion, Shennongjia Hotel will be owned as to 60% by Shenzhen Ju Sheng and as to 40% by Apple Culture.

Please refer to the announcement of the Company dated 16 October 2020 for details.

The acquisition has been completed on 15 March 2021.

Disposal of 100% equity interest in Shen Wu Investment

On 31 December 2020, the Company (as seller) entered into an equity transfer agreement with an Independent Third Party (as buyer), pursuant to which the buyer conditionally agreed to purchase and the seller conditionally agreed to sell 100% of the equity interests in Shen Wu Investment together with its subsidiaries for a consideration of RMB5,000,000. All the assets and liabilities of Shen Wu Investment with its subsidiaries are classified as held for sale. As the relevant ratio for each transaction is less than 5%, the transaction is not subject to the announcement requirement under the Listing Rules.

As of the date hereof, the Company has received all the payments and the transaction has been completed.

收購神農架賓館60%股權

2020年10月16日(交易時間結束後),本公司 全資附屬公司深圳市聚晟創建投資發展有 限公司(「深圳聚晟」)與深圳市蘋果文化傳媒 有限公司(「蘋果文化」)訂立股權轉讓協議, 據此,蘋果文化有條件同意出售且深圳聚晟 有條件同意收購神農架賓館60%股權及神農 架賓館於2020年7月31日欠蘋果文化的全部 股東貸款,總代價為人民幣35,000,000元。

神農架賓館持有兩塊毗鄰土地的土地使用 權,該兩塊土地位於中國湖北省神農架林區 大九湖坪阡古鎮,總用地面積約35,506平方 米,用於商業酒店服務用途。完成後,神農 架賓館將由深圳聚晟及蘋果文化分別擁有 60%及40%股權。

詳情請見本公司2020年10月16日的公告。

收購事項已於2021年3月15日完成。

出售沈物投資100%股權

於2020年12月31日,本公司(作為賣方)與獨 立第三方(作為買方)簽訂股權轉讓協議,據 此,買方有條件同意購買而賣方有條件同意 出售沈物投資(連同其子公司)100%股權, 代價為人民幣5,000,000元。沈物投資連同其 子公司之全部資產及負債被分類為持作銷 售。由於各項交易的相關比例低於5%,交易 無需遵守上市規則的公告規定。

截至本報告日期,本公司已收到全部款項, 交易完成。

* For identification purpose only

Disposal of 90% equity interest in Guangdong Xinmao

On 15 January 2021, Shenzhen Tong He entered into the share transfer agreement with Guangdong Zhipuguangdian Advanced Materials Company Limited*(廣東至普光電新材料有限公司) ("Guangdong Zhipuguangdian") and another shareholder of Guangdong Xinmao, pursuant to which Guangdong Zhipuguangdian agreed to purchase the 90% equity interest of Guangdong Xinmao as at the date of the share transfer agreement and all outstanding shareholders' loan owned by Guangdong Xinmao before the disposal at a consideration of RMB 9,990,000.

Please refer to the announcement of the Company dated 15 January 2021 for details.

The disposal has been completed on 2 February 2021.

Disposal of 90% equity interest in Chaozhou Jiafu

On 19 April 2021, Shenzhen Juxi Investment and Development Limited*(深圳市聚璽投資發展有限公司) ("Shenzhen Juxi"), a wholly-owned subsidiary of the Company, has entered into the share transfer agreement with four individual purchasers and a shareholder of Chaozhou Jiafu (the "Vendor II") pursuant to which (i) Shenzhen Juxi agreed to sell and the purchasers agreed to purchase the amounts of Shenzhen Juxi's outstanding shareholders' loan owned by Chaozhou Jiafu before the completion of the disposal and 90% equity interest of Chaozhou Jiafu as at the date of the share transfer agreement at a consideration of RMB16,308,000; and (ii) the Vendor II agreed to sell and the purchasers agreed to purchase the 10% equity interest of Chaozhou Jiafu as at the date of the share transfer agreement at a consideration of RMB1,812,000.

Please refer to the announcement of the Company dated 19 April 2021 for details.

The disposal has been completed on 27 April 2021.

出售廣東鑫茂90%的股權

於2021年1月15日,深圳同合與廣東至普光 電新材料有限公司(「廣東至普光電」)及廣東 鑫茂另一名股東訂立股份轉讓協議,據此, 廣東至普光電同意按人民幣9,990,000元的 代價購買廣東鑫茂於股份轉讓協議日期的 90%股權以及廣東鑫茂於出售事項之前擁 有的尚未償還的股東貸款。

有關詳情請參閱本公司日期為2021年1月15 日的公告。

出售事項已於2021年2月2日完成。

出售潮州佳富90%的股權

於2021年4月19日,本公司的全資附屬公 司深圳市聚璽投資發展有限公司(「深圳聚 璽」)已與四名個人買方及潮州佳富的一名 股東(「賣方II」)訂立股份轉讓協議,據此, (i)深圳聚璽同意出售且買方同意購買潮州 佳富於出售事項完成前擁有的未償還深圳 聚璽的股東貸款金額及潮州佳富於股份 轉讓協議日期的90%股權,代價為人民幣 16,308,000元;及(ii)賣方II同意出售且買方 同意購買潮州佳富於股份轉讓協議日期的 10%股權,代價為人民幣1,812,000元。

有關詳情請參閱本公司日期為2021年4月19 日的公告。

出售事項已於2021年4月27日完成。

* For identification purpose only

* 僅供識別

ADVANCE TO AN ENTITY

Reference is made to the announcement of the Company dated 24 August 2020 and the circular of the Company dated 26 February 2021 in relation to the termination of the major transaction in relation to the acquisition of 78% equity interest in San He Jing Jiao and major transaction relating to the acquisition of the properties with advance to an entity.

According to the termination agreement, Shanghai Wanbang shall refund the paid deposit of RMB110,000,000 to Shenzhen Shenhe. In addition, pursuant to the second supplemental agreement, the new consideration of RMB110,000,000 shall be payable by Beijing Shen Shang to San He Jing Jiao. Shenzhen Shenhe agreed to pay the new consideration on behalf of Beijing Shen Shang and RMB110,000,000 shall be payable by Shanghai Wanbang to San He Jing Jiao.

As the amount of the deposit of RMB110,000,000 exceeds 8% under the assets ratio as defined under Rule 13.13 of the Listing Rules, the deposit is also subject to the general disclosure obligations under Rule 13.15 of the Listing Rules.

Please refer to the announcements of the Company dated 24 August 2020, 14 September 2020, 9 October 2020, 23 October 2020, 30 November 2020, 30 December 2020 and 1 March 2021 and the circular of the Company dated 26 February 2021 for details.

SIGNIFICANT INVESTMENTS

During the Period, save as disclosed above, the Company did not have any significant investments.

向實體墊款

茲提述本公司日期為2020年8月24日之公告 及本公司日期為2021年2月26日之通函,內 容有關終止有關收購三河京郊78%股權之主 要交易及與收購該等物業連向實體墊款之主 要交易。

根據終止協議,上海萬邦須退還已付訂金人 民幣110,000,000元予深圳深合。此外,根據 第二份補充協議,北京瀋商須向三河京郊支 付新代價人民幣110,000,000元。深圳深合同 意代表北京瀋商支付新代價,而上海萬邦須 向三河京郊支付人民幣110,000,000元。

由於訂金金額人民幣110,000,000元按上市 規則第13.13條所界定之資產比率計算超過 8%,故訂金亦須遵守上市規則第13.15條之 一般披露責任。

有關詳情請參閱本公司日期為2020年8月24 日、2020年9月14日、2020年10月9日、2020 年10月23日、2020年11月30日、2020年12月 30日及2021年3月1日的公告及本公司日期為 2021年2月26日的通函。

重大投資

於本期,除上文所披露者外,本公司並無持 有任何重大投資。

NUMBER OF EMPLOYEES, EMOLUMENTS, TRAINING SCHEMES AND SHARE OPTION SCHEMES

As at 30 June 2021, the Group employed a total of 42 employees (including the Directors) and the emoluments during the Period amounted to approximately RMB2,522,000 (2020 Corresponding Period: RMB2,157,000) in total. The Group has entered into employment contracts with all employees, and offered them with different emoluments package according with their positions qualifications, experience and ability. The Group also provide benefits to employees, such as contributions to endowment insurance, basic medical insurance and housing reserve in accordance with the relevant laws of the PRC. The Group has not adopted any share option scheme for any of its senior management or employees.

ASSETS SECURED/PLEDGED

As at 30 June 2021, no asset of the Group was secured or pledged (2020 Corresponding Period: Nil).

SEGMENTAL INFORMATION

Details of segmental information are set out in Note 4 to the condensed consolidated financial statements in this report.

CURRENCY RISKS

Other than those subsidiaries established in Hong Kong, the revenue and expenses of the Group are mainly denominated in RMB. In view of the appreciation of Hong Kong Dollar against RMB, the reporting currency, an exchange profit of approximately RMB1,193,000 (2020 Corresponding Period: loss of RMB247,000) has been recorded in the results for the Period. The Group currently does not have hedging policy against foreign exchange risk. The management will consider hedging significant currency exposure in the future should the need arise.

CONTINGENT LIABILITIES

As at 30 June 2021, the Group had no significant contingent liabilities (2020 Corresponding Period: Nil).

EVENT AFTER THE REPORTING PERIOD

There are no material events from the end of the Period to the date hereof.

僱員人數及薪酬、培訓計劃及購股權計劃

於2021年6月30日,本集團共聘用42名僱員 (包括董事在內),於本期提供薪酬總額約 為人民幣2,522,000元( 2020年同期:人民幣 2,157,000元)。本集團與全體僱員均已簽署 聘用合同,根據彼等的崗位資歷、經驗及能 力向彼等提供不同的薪酬待遇。同時,根據 中國有關法律規定,本集團為僱員提供福利 如交納養老保險金、基本醫療保險金和住房 公積金。本集團尚未採納任何高級管理人員 或員工的購股權計劃。

資產抵押╱質押

於2021年6月30日,本集團並無任何資產抵 押及質押(2020年同期:無)。

分部資料

分部資料詳載於本報告簡明綜合財務報表附 註4。

外匯風險

除於香港成立的該等附屬公司外,本集團之 收益及開支主要以人民幣計值。鑒於港元兌 呈報貨幣人民幣升值,本期的業績錄得匯兌 溢利約人民幣1,193,000元( 2020年同期:虧 損人民幣247,000元)。本集團目前並無外匯 風險的對沖政策。管理層將考慮日後於有需 要時對沖重大貨幣風險。

或然負債

於2021年6月30日,本集團並無任何重大或 然負債(2020年同期:無)。

期後事項

自本期末至本報告日期概無任何重大事項。

Condensed Consolidated Statement of Profit or Loss 簡明綜合損益表

		Six months ended 30 June 截至6月30日止六個月
		Notes 附註	2021 (Unaudited) (未經審計) RMB'000 人民幣千元	2020 (Unaudited) (未經審計) RMB'000 人民幣千元 (Restated) (經重列)
Continuing operations	持續經營業務
Revenue Contracts with customers Leases	收益 客戶合約 租賃	3	43,144 229	– 199
Total revenue Cost of sales	總收益 銷售成本		43,373 (43,102)	199 –
Gross profit Other income Impairment losses under expected credit	毛利 其他收入 預期信貸虧損模式下的	5	271 2,317	199 2,362
loss model, net of reversal Exchange gain (loss), net Donation	減值虧損,扣除撥回 匯兌收益(虧損)淨額 捐款	7	(2,016) 1,193 (1,000)	– (247) –
Gain on disposal of subsidiaries Staff costs Other operating expenses	出售附屬公司之收益 員工成本 其他經營開支	14(b)&(c)	12,381 (2,522) (3,970)	– (2,157) (2,631)
Finance cost	融資成本	6	(35)	(14)
Profit (loss) before tax Income tax expense	除稅前溢利(虧損) 所得稅開支	8	6,619 (60)	(2,488) –
Profit (loss) for the period from continuing operations	來自持續經營業務之期 內溢利(虧損)	9	6,559	(2,488)
Discontinued operation Profit for the period from discontinued operation	已終止經營業務 來自已終止經營業務之 期內溢利	14(a)	2,569	205
Profit (loss) for the period	期內溢利(虧損)		9,128	(2,283)

Condensed Consolidated Statement of Profit or Loss 簡明綜合損益表

			Six months ended 30 June 截至6月30日止六個月
		Notes 附註	2021 (Unaudited) (未經審計) RMB'000 人民幣千元	2020 (Unaudited) (未經審計) RMB'000 人民幣千元 (Restated) (經重列)
Profit (loss) attributable to owners of the Company:	本公司擁有人應佔溢利 (虧損):
– from continuing operations – from discontinued operation	-來自持續經營業務 -來自已終止經營業務		6,805 2,570	(2,488) 113
Profit (loss) for the period attributable to owners of the Company	本公司擁有人應佔期內溢 利(虧損)		9,375	(2,375)
(Loss) profit attributable to non-controlling interests: – from continuing operations – from discontinued operation	非控股權益應佔(虧損) 溢利: -來自持續經營業務 -來自已終止經營業務		(246) (1)	– 92
(Loss) profit for the period attributable to non-controlling interests	非控股權益應佔期內 (虧損)溢利		(247)	92
			9,128	(2,283)
Earnings (loss) per share	每股盈利(虧損)	10
From continuing and discontinued operations – Basic (RMB cents)	來自持續經營及已終止 經營業務 -基本(人民幣分)		0.64	(0.16)
– Diluted (RMB cents)	-攤薄(人民幣分)		N/A 不適用	N/A 不適用
From continuing operations	來自持續經營業務
– Basic (RMB cents)	-基本(人民幣分)		0.46	(0.17)
– Diluted (RMB cents)	-攤薄(人民幣分)		N/A 不適用	N/A 不適用

Condensed Consolidated Statement of Profit or Loss 簡明綜合損益及其他全面收益表 and Other Comprehensive Income

		Six months ended 30 June 截至6月30日止六個月
		2021 (Unaudited) (未經審計) RMB'000 人民幣千元	2020 (Unaudited) (未經審計) RMB'000 人民幣千元 (Restated)
Profit (loss) for the period	期內溢利(虧損)	9,128	(經重列) (2,283)
Other comprehensive (expense) income for the period, net of tax:	期內其他全面(開支)收入, 扣除稅項:
Items that may be reclassified	其後可能重新分類至損益之項目:
subsequently to profit or loss: Exchange differences arising on translation of foreign operations	換算海外業務產生之匯兌差額	(34)	1,191
Total comprehensive income (expense) for the period	期內全面收入(開支)總額	9,094	(1,092)
Total comprehensive income (expense) attributable to:	下列應佔全面收入(開支)總額:
– owners of the Company – non-controlling interests	-本公司擁有人 -非控股權益	9,449 (355)	(1,520) 428
		9,094	(1,092)
Total comprehensive income (expense) attributable to owners of the Company:	本公司擁有人應佔全面收入 (開支)總額:
– from continuing operations – from discontinued operation	-來自持續經營業務 -來自已終止經營業務	7,009 2,440	(2,044) 524
		9,449	(1,520)

Condensed Consolidated Statement of Financial Position 簡明綜合財務狀況表

At 30 June 2021 於2021年6月30日

		簡明綜合財務狀況表

		Notes 附註	30 June 2021 2021年 6月30日 (Unaudited) (未經審計) RMB'000 人民幣千元	31 December 2020 2020年 12月31日 (Audited) (經審計) RMB'000 人民幣千元
NON-CURRENT ASSETS
Property, plant and equipment	非流動資產 物業、廠房及設備	12	751	12,307
Properties under development	開發中的物業		48,127	–
Right-of-use assets	使用權資產	12	1,456	15,103
Investment properties Equity instruments at fair value through other comprehensive income ("FVTOCI")	投資物業 按公允價值計入其他 全面收入(「FVTOCI」)	12	267,300	157,300
	的股本工具		34,883	34,883
Deposits paid	已支付訂金		149,100	294,100
Deferred tax assets	遞延稅項資產		31	31
			501,648	513,724
CURRENT ASSETS	流動資產
Contract costs	合約成本		96,051	131,761
Deposits and other receivables	按金及其他應收款		155,867	164,169
Amount due from a non-controlling interest	應收非控股權益款項	17	3,594	–
Restricted bank balances	受限制銀行結餘		76,435	75,826
Bank balances and cash	銀行結餘及現金		6,645	2,343
			338,592	374,099
Assets classified as held for sale	分類為持作出售的資產		–	10,307
			338,592	384,406
CURRENT LIABILITIES	流動負債
Trade payables Contract liabilities	應付賬款	15	72,329 10,488	65,797 54,926
Other payables and accruals	合約負債 其他應付款及應計費用		62,543	86,339
Lease liabilities – current portion	租賃負債-流動部分		978	676
Amount due to a shareholder	應付一名股東款項	17	1,743	2,153
Tax liabilities	稅項負債		1,592	1,532
			149,673	211,423
Liabilities associated with assets	分類為持作出售與資產
classified as held for sale	相關的負債		–	1,978
			149,673	213,401

Condensed Consolidated Statement of Financial Position 簡明綜合財務狀況表

At 30 June 2021 於2021年6月30日

		30 June 2021 2021年 6月30日 (Unaudited) (未經審計) RMB'000 人民幣千元	31 December 2020 2020年 12月31日 (Audited) (經審計) RMB'000 人民幣千元
NET CURRENT ASSETS	流動資產淨值	188,919	171,005
TOTAL ASSETS LESS CURRENT LIABILITIES	總資產減流動負債	690,567	684,729
NON-CURRENT LIABILITY Lease liabilities – non-current portion	非流動負債 租賃負債-非流動部分	490	–
NET ASSETS	資產淨值	690,077	684,729
CAPITAL AND RESERVES Share capital Reserves	資本及儲備 股本 儲備	1,469,376 (782,508)	1,469,376 (791,340)
Equity attributable to owners of the Company Non-controlling interests	本公司擁有人應佔權益 非控股權益	686,868 3,209	678,036 6,693
TOTAL EQUITY	總權益	690,077	684,729

Condensed Consolidated Statement of Changes in Equity 簡明綜合權益變動表

For the six months ended 30 June 2021 截至2021年6月30日止六個月

		Attributable to owners of the Company 本公司擁有人應佔
		Share capital	Share premium	Statutory surplus reserve	FVTOCI reserve 按公允價值	Translation reserve	Accumulated losses	Total	Non controlling interests	Total
		股本 RMB'000 人民幣千元	股份溢價 RMB'000 人民幣千元 (Note a) (附註a)	法定盈餘 公積金 RMB'000 人民幣千元 (Note b) (附註b)	計入其他全面 收入的儲備 RMB'000 人民幣千元	匯兌儲備 RMB'000 人民幣千元	累計虧損 RMB'000 人民幣千元	總計 RMB'000 人民幣千元	非控股權益 RMB'000 人民幣千元	總計 RMB'000 人民幣千元
At 1 January 2020 (audited)	於2020年1月1日(經審計)	1,469,376	320,476	105,028	(54,290)	1,848	(1,123,513)	718,925	88,588	807,513
(Loss) profit for the period	期內(虧損)溢利	–	–	–	–	–	(2,375)	(2,375)	92	(2,283)
Other comprehensive income for the period, net of tax Items that may be reclassified subsequently to profit or loss: Exchange difference arising on translation of foreign operations	期內其他全面收入, 扣除稅項 其後可能重新分類至 損益的項目: 換算海外業務產生之 匯兌差額	–	–	–	–	855	–	855	336	1,191
Total comprehensive income (expense) for the period	期內全面收入(開支)總額	–	–	–	–	855	(2,375)	(1,520)	428	(1,092)
Acquisition of subsidiaries	收購附屬公司	–	–	–	–	–	–	–	2,474	2,474
At 30 June 2020 (unaudited)	於2020年6月30日(未經審計)	1,469,376	320,476	105,028	(54,290)	2,703	(1,125,888)	717,405	91,490	808,895
At 1 January 2021 (audited)	於2021年1月1日(經審計)	1,469,376	320,476	105,028	(35,254)	588	(1,182,178)	678,036	6,693	684,729
Profit (loss) for the period	期內溢利(虧損)	–	–	–	–	–	9,375	9,375	(247)	9,128
Other comprehensive income for the period, net of tax Items that may be reclassified subsequently to profit or loss: Exchange difference arising on translation of foreign operations	期內其他全面收入, 扣除稅項 其後可能重新分類至 損益的項目: 換算海外業務產生之匯兌差 額	–	–	–	–	74	–	74	(108)	(34)
Total comprehensive income (expense) for the period	期內全面收入(開支)總額	–	–	–	–	74	9,375	9,449	(355)	9,094
Disposal of subsidiaries (Note 14) Acquisition of a subsidiary (Note 13)	出售附屬公司(附註14) 收購一間附屬公司(附註13)	– –	– –	– –	– –	(617) –	– –	(617) –	(4,093) 964	(4,710) 964
At 30 June 2021 (unaudited)	於2021年6月30日(未經審計)	1,469,376	320,476	105,028	(35,254)	45	(1,172,803)	686,868	3,209	690,077

Notes:

(a) Share premium

Share premium comprises surplus between the value of net assets acquired and the nominal value of domestic shares issued as a result of the incorporation of the Company as a joint stock limited company and the share premium from the issuance of H-shares.

(b) Statutory surplus reserve

The Group is required to set aside 10% of its profit after taxation prepared in accordance with the PRC accounting standards and regulations to the statutory surplus reserve until the balance reaches 50% of their respective paid up capital or registered capital, where further appropriation will be made at the directors' recommendation. Such reserve can be used to reduce any losses incurred or increased the capital.

附註:

(a) 股份溢價

股份溢價包括收購的淨資產價值和本公司作 為股份制有限公司註冊成立而發行的內資股 面值之間的盈餘,以及發行H股所產生的股 份溢價。

(b) 法定盈餘公積金

根據中國會計準則及法規,本集團需要從稅 後溢利中撥出10%作為法定盈餘公積金,直 到結餘達到彼等各自已繳足股本或註冊資本 的50%,進一步的撥備將由董事建議。該公 積金可以用作減少已發生的任何虧損或增加 股本。

Condensed Consolidated Statement of Cash Flows 簡明綜合現金流量表

	Six months ended 30 June 截至6月30日止六個月
	2021 (Unaudited) (未經審計) RMB'000 人民幣千元	2020 (Unaudited) (未經審計) RMB'000 人民幣千元
(用於)來自經營活動的現金淨額	(11,927)	16,910
來自(用於)投資活動的現金淨額	18,919	(16,931)
用於融資活動的現金淨額	(1,655)	(6,172)
現金及現金等值項目 增加(減少)淨額	5,337	(6,193)
於期初的現金及現金等值項目	2,497	7,627
外匯匯率變動影響,淨額	(1,189)	899
於期末的現金及現金等值項目, 指銀行結餘及現金		2,333
		6,645

For the six months ended 30 June 2021 截至2021年6月30日止六個月

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 Institution of Certified Public Accountants as well as with the applicable disclosure requirements of Appendix 16 to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

2. PRINCIPAL ACCOUNTING POLICIES

The condensed consolidated financial statements have been prepared on the historical cost basis except for certain investment properties and financial instruments, which are measured at fair values, as appropriate.

Other than additional accounting policies resulting from application of amendments to Hong Kong Financial Reporting Standards ("HKFRSs"), the accounting policies and methods of computation used in the condensed consolidated financial statements for the six months ended 30 June 2021 are the same as those presented in the Group's annual financial statements for the year ended 31 December 2020.

Application of amendments to HKFRSs

In the current interim period, the Group has applied the following amendments to HKFRSs issued by the HKICPA, for the first time, which are mandatory effective for the annual period beginning on or after 1 January 2021 for the preparation of the Group's condensed consolidated financial statements:

Amendments to HKFRS 9, HKAS 39 and HKFRS 7, HKFRS 4 and HKFRS 16

Interest Rate Benchmark Reform – Phase 2

1. 編製基準

簡明綜合財務報表乃根據香港會計 師公會所頒佈的香港會計準則第34號 (「香港會計準則第34號」)「中期財務 報告」及香港聯合交易所有限公司證 券上市規則附錄十六所載之適用披露 規定而編製。

2. 主要會計政策

簡明綜合財務報表乃以歷史成本基準 編製,惟若干投資物業及金融工具除 外,其按公允價值計量(倘適合)。

除應用香港財務報告準則(「香港財務 報告準則」)修訂本所產生之額外會計 政策外,截至2021年6月30日止六個 月的簡明綜合財務報表所使用的會計 政策及計算方法,與編製本集團截至 2020年12月31日止年度的年度財務 報表所使用者相同。

應用香港財務報告準則修訂本

於本中期期間,本集團已就編製本集 團的簡明綜合財務報表,首次應用以 下於2021年1月1日或之後開始之年度 期間強制生效的由香港會計師公會頒 佈的香港財務報告準則之修訂:

香港財務報告準則第9號、	利率基準
香港會計準則第39號、	改革-
香港財務報告準則第7號、	第2階段
香港財務報告準則第4號及
香港財務報告準則第16號
(修訂本)

For the six months ended 30 June 2021 截至2021年6月30日止六個月

2. PRINCIPAL ACCOUNTING POLICIES (Continued)

Application of amendments to HKFRSs (Continued)

In addition, the Group has early applied the Amendment to HKFRS 16 "Covid-19-Related Rent Concessions beyond 30 June 2021".

Except as described below, the application of the amendments to HKFRSs in the current interim period has had no material impact on the Group's financial positions and performance for the current and prior periods and/or on the disclosures set out in these condensed consolidated financial statements.

2.1 Impacts on early application of Amendments to HKFRS 16 "Covid-19-Related Rent Concessions beyond 30 June 2021"

The Group has early applied the amendment in the current period. The application has had no impact to the opening accumulated losses at 1 January 2021. During the interim period, certain lessors agreed to reduce lease payments on lease in Hong Kong beyond 30 June 2021. The Group has derecognised the part of lease liabilities that have been extinguished using the discount rates originally applied to these leases respectively, resulted in a decrease in lease liabilities of approximately RMB25,000, which have been recognised as variable lease payments in profit or loss during the current interim period.

2. 主要會計政策(續)

應用香港財務報告準則修訂本(續)

此外,本集團已提早應用香港財務報 告準則第16號(修訂本)「 2021年6月 30日之後2019冠狀病毒病相關租金 寬減」。

除下文所述外,於本中期期間應用香 港財務報告準則修訂本對本集團本期 及過往期間的財務狀況及表現及/或 對本簡明綜合財務報表所載列的披露 並無重大影響。

2.1 提早應用香港財務報告準則第 16號(修訂本)「2021年6月30日 之後2019冠狀病毒病相關租金 寬減」的影響

本集團已於本期間提早應用該 修訂本。該應用對2021年1月1 日的期初累計虧損並無影響。 於中期期間,若干出租人同意 於2021年6月30日之後減少香 港租約的租賃付款。本集團已 終止確認分別使用最初適用於 該等租約的貼現率清償的部分 租賃負債,導致租賃負債減少 約人民幣25,000元,該部分已 於本中期期間確認為可變租賃 付款。

For the six months ended 30 June 2021 截至2021年6月30日止六個月

2. PRINCIPAL ACCOUNTING POLICIES (Continued)

2.2 Impacts and accounting policies on application of Amendments to HKFRS 9, HKAS 39, HKFRS 7, HKFRS 4 and HKFRS 16 "Interest Rate Benchmark Reform – Phase 2"

2.2.1 Accounting policies

Financial instruments

Changes in the basis for determining the contractual cash flows as a result of interest rate benchmark reform

For changes in the basis for determining the contractual cash flows of a financial asset or financial liability to which the amortised cost measurement applies as a result of interest rate benchmark reform, the Group applies the practical expedient to account for these changes by updating the effective interest rate, such change in effective interest rate normally has no significant effect on the carrying amount of the relevant financial asset or financial liability.

A change in the basis for determining the contractual cash flows is required by interest rate benchmark reform if and only if, both these conditions are met:

• the change is necessary as a direct consequence of interest rate benchmark reform; and
• the new basis for determining the contractual cash flows is e c o n o m i c a l l y e q u i v a l e n t t o the previous basis (ie the basis immediately preceding the change).

2. 主要會計政策(續)

2.2 應用香港財務報告準則第9號、 香港會計準則第39號、香港財 務報告準則第7號、香港財務報 告準則第4號及香港財務報告 準則第16號「利率基準改革—第 ²階段」修訂本的影響及會計政 策

2.2.1 會計政策

金融工具

釐定由於利率基準改革 所導致的合約現金流量 的基準的變動

就釐定由於利率基準改 革所導致適用攤銷成本 計量的金融資產或金融 負債的合約現金流量的 基準的變動而言,本集 團採用實際權宜之計, 通過更新實際利率對該 等變動進行列賬,實際 利率的有關變動通常對 相關金融資產或金融負 債的賬面值並無重大影 響。

利率基準改革要求對釐 定合約現金流量的基準 作出變動,當且僅當該 等條件得到滿足時:

• 作為利率基準 改革的直接結 果,該變動乃屬 必要;及
• 釐定合約現金 流量的新基準 在經濟上等同 於以前的基準 (即緊接變動 之前的基準)。

For the six months ended 30 June 2021 截至2021年6月30日止六個月

2. PRINCIPAL ACCOUNTING POLICIES (Continued)

2.2 Impacts and accounting policies on application of Amendments to HKFRS 9, HKAS 39, HKFRS 7, HKFRS 4 and HKFRS 16 "Interest Rate Benchmark Reform – Phase 2" (Continued)

2.2.1 Accounting policies (Continued)

Leases

The Group as a lessee

Changes in the basis for determining the future lease payments as a result of interest rate benchmark reform

For changes in the basis for determining the future lease payments as a result of interest rate benchmark reform, the Group applies the practical expedient to remeasure the lease liabilities by discounting the revised lease payments using the unchanged discount rate and makes a corresponding adjustment to the related right-of-use assets. A lease modification is required by interest rate benchmark reform if, and only if, both of these conditions are met:

• the modification is necessary as a direct consequence of interest rate benchmark reform; and
• the new basis for determining the lease payments is economically equivalent to the previous basis (i.e. the basis immediately preceding the modification).

2. 主要會計政策(續)

2.2 應用香港財務報告準則第9號、 香港會計準則第39號、香港財 務報告準則第7號、香港財務報 告準則第4號及香港財務報告 準則第16號「利率基準改革—第 ²階段」修訂本的影響及會計政 策(續)

2.2.1 會計政策(續)

租賃

本集團作為承租人

釐定利率基準改革所導 致的未來租賃付款的基 準的變動

就由於利率基準改革所 導致的未來租賃付款基 準的變動而言,本集團 採用實用的權宜之計, 通過使用不變的貼現率 對經修訂的租賃付款 進行貼現來重新計量 租賃負債,並對相關的 使用權資產作出相應的 調整。利率基準改革要 求進行租賃修訂,當且 僅當滿足以下兩個條件 時:

• 作為利率基準 改革的直接後 果,該修訂乃屬 必要;及
• 釐定租賃付款 的新基準在經 濟上等同於以 前的基準(即緊 接修訂之前的 基準)。

For the six months ended 30 June 2021 截至2021年6月30日止六個月 2. 主要會計政策(續) 2.2 應用香港財務報告準則第9號、 香港會計準則第39號、香港財 務報告準則第7號、香港財務報 告準則第4號及香港財務報告 準則第16號「利率基準改革—第 ²階段」修訂本的影響及會計政 策(續) 2.2.1 會計政策(續) 租賃(續) 本集團作為出租人 釐定由於利率基準改革 所導致的未來租賃付款 的基準的變動 就釐定不作為單獨租賃 列賬的融資租賃由於利 率基準改革所導致的未 來租賃付款的基準的變 動而言,本集團適用與 適用於金融工具的相同 的會計政策。 2. PRINCIPAL ACCOUNTING POLICIES (Continued) 2.2 Impacts and accounting policies on application of Amendments to HKFRS 9, HKAS 39, HKFRS 7, HKFRS 4 and HKFRS 16 "Interest Rate Benchmark Reform – Phase 2" (Continued) 2.2.1 Accounting policies (Continued) Leases (Continued) The Group as a lessor Changes in the basis for determining the future lease payments as a result of interest rate benchmark reform For changes in the basis for determining the future lease payments as a result of interest rate benchmark reform for a finance lease that is not accounted for as a separate lease, the Group applies the same accounting policies as those applicable to financial instruments.

3. REVENUE

3. 收益

		Six months ended 30 June 截至6月30日止六個月 2021 (Unaudited) (未經審計) RMB'000 人民幣千元	2020 (Unaudited) (未經審計) RMB'000 人民幣千元
Continuing operations	持續經營業務
Revenue from contracts with customer	來自客戶合約之收益
Type of services Construction of infrastructure and development of properties	服務類型 基礎設施建設及物業發展
Slope stabilisation works	斜坡加固工程	43,144	–
Leases	租賃	229	199
Total revenue	總收益	43,373	199

For the six months ended 30 June 2021 截至2021年6月30日止六個月

4. OPERATING SEGMENTS

The following is an analysis of the Group's revenue and results by reportable and operating segments:

For the six months ended 30 June (unaudited)

4. 經營分部

以下為本集團按可報告分部劃分之收 益及業績分析:

截至6月30日止六個月(未經審計)

		Segment revenue 分部收益		Segment results 分部業績
		2021 RMB'000 人民幣千元	2020 RMB'000 人民幣千元	2021 RMB'000 人民幣千元	2020 RMB'000 人民幣千元 (Restated) (經重列)
Continuing operations	持續經營業務
Construction of infrastructure and development of	基礎設施建設及 物業發展
properties Property investments	物業投資	43,144 229	– 199	42 229	– 199
Total	總計	43,373	199	271	199
Other income Impairment losses under expected credit loss model,	其他收入 預期信貸虧損模式下的 減值虧損,扣除撥回			2,317	2,362
net of reversal Exchange gain (loss), net Gain on disposal of subsidiaries 出售附屬公司收益 Finance cost Donation	匯兌收益(虧損)淨額 融資成本 捐款			(2,016) 1,193 12,381 (35) (1,000)	– (247) – (14) –
Staff costs Other operating expenses	員工成本 其他經營開支			(2,522) (3,970)	(2,157) (2,631)
Profit (loss) before tax from continuing operations	來自持續經營業務的 除稅前溢利(虧損)			6,619	(2,488)

For the six months ended 30 June 2021 截至2021年6月30日止六個月

5. OTHER INCOME

5. 其他收入

			Six months ended 30 June 截至6月30日止六個月
		2021	2020
		(Unaudited)	(Unaudited)
		(未經審計)	(未經審計)
		RMB'000	RMB'000
		人民幣千元	人民幣千元
			(Restated)
			(經重列)
Continuing operations	持續經營業務
Bank interest income	銀行利息收入	7	5
Dividend income	股息收入	2,136	1,921
COVID-19 related rent concession	2019冠狀病毒病
	相關租金寬減	25	–
Sundry income	雜項收入	149	436
		2,317	2,362

6. FINANCE COST

6. 融資成本

		Six months ended 30 June 截至6月30日止六個月
		2021 (Unaudited) (未經審計)	2020 (Unaudited) (未經審計)
		RMB'000 人民幣千元	RMB'000 人民幣千元
Continuing operations	持續經營業務
Interest on lease liabilities	租賃負債利息	35	14

For the six months ended 30 June 2021 截至2021年6月30日止六個月

7. IMPAIRMENT ASSESSMENT ON FINANCIAL ASSETS AND OTHER ITEMS SUBJECT TO UNDER EXPECTED CREIDT LOSS MODEL

7. 預期信貸虧損模式下有關金融資產 及其他項目的減值評估

Six months ended 30 June 截至6月30日止六個月

2021	2021
(Unaudited)	(Unaudited)
(未經審計)	(未經審計)
RMB'000	RMB'000
人民幣千元	人民幣千元

Continuing operations 持續經營業務

Impairment losses recognised in	就以下項目確認的減值虧損:
respect of: – other receivables	—其他應收款項	2,016	–

The basis of determining the inputs and assumptions and the estimation techniques used in the condensed consolidated financial statements for the six months ended 30 June 2021 are the same as those followed in the preparation of the Group's annual financial statements for the year ended 31 December 2020.

During the current interim period, the Group provided impairment allowance of approximately RMB2,016,000 (six months ended 30 June 2020: RMB Nil), in particular, a specific loss allowance of approximately RMB1,704,000 has been made to an individual debtor due to not able to repay the outstanding consideration to the Group in time.

8. INCOME TAX EXPENSE

釐定截至2021年6月30日止六個月的 簡明綜合財務報表中所使用的輸入 數字及假設以及估計技巧與在編製 本集團截至2020年12月31日止年度 的年度財務報告時所遵循者相同。

於本中期期間,本集團計提減值撥備 約人民幣2,016,000元(截至2020年6 月30日止六個月:零),尤其是,已就 一名無法向本集團及時償付未償還 代價的個別債務人計提特定虧損撥 備約人民幣1,704,000元。

8. 所得稅開支

	Six months ended 30 June 截至6月30日止六個月
2021	2020
(Unaudited)	(Unaudited)
(未經審計)	(未經審計)
RMB'000	RMB'000
人民幣千元	人民幣千元

Continuing operations 持續經營業務

Current tax: 即期稅項:

– PRC -中國 60 –

For the six months ended 30 June 2021 截至2021年6月30日止六個月

9. PROFIT (LOSS) FOR THE PERIOD – CONTINUING OPERATIONS

9. 期內溢利(虧損)—持續經營業務

		Six months ended 30 June 截至6月30日止六個月 2021 (Unaudited) (未經審計) RMB'000 人民幣千元	2020 (Unaudited) (未經審計) RMB'000 人民幣千元
Profit (loss) for the period from continuing operations has been arrived at after charging the following items:	來自持續經營業務之期內溢利 (虧損)已扣除以下項目:
Expense relating to short-term leases Depreciation of property,	與短期租賃相關的開支 物業、廠房及設備折舊	100	23
plant and equipment		46	100
Depreciation of right-of-use assets	使用權資產折舊	485	617
Legal and professional fee	法律及專業費用	1,820	918

10. EARNINGS (LOSS) PER SHARE

10. 每股盈利(虧損)

關於持續經營業務

For continuing operations

The calculation of the basic earnings (loss) per share from continuing operations attributable to owners of the Company is based on the following data:

本公司擁有人應佔來自持續經營業務 的每股基本盈利(虧損)是根據以下數 據計算:

		Six months ended 30 June 截至6月30日止六個月
		2021	2020
		(Unaudited)	(Unaudited)
		(未經審計)	(未經審計)
		RMB'000	RMB'000
		人民幣千元	人民幣千元
			(Restated)
			(經重列)
Profit (loss) for the period	本公司擁有人應佔期內
attributable to owners of	溢利(虧損)
the Company		9,375	(2,375)
Less: Profit for the period	減:來自已終止經營業務的
from discontinued operation	期內溢利	2,570	113
Profit (loss) for the purpose of	用於計算每股基本盈利(虧損)
calculating basic earnings (loss) per	的來自持續經營業務
share from continuing operations	之溢利(虧損)	6,805	(2,488)

10.	EARNINGS (LOSS) PER SHARE (Continued)		10.	每股盈利(虧損)(續)
	For continuing operations (Continued)			關於持續經營業務(續)
				Six months ended 30 June 截至6月30日止六個月 2021 '000 千股	2020 '000 千股
	Number of shares Weighted average number of ordinary shares for the purpose of basic earnings (loss) per share	股份數目 就每股基本盈利(虧損) 而言普通股的加權平均數目		1,469,376	1,469,376
	From continuing and discontinued operations			來自持續經營及已終止經營業務
	The calculation of the basic earnings (loss) per share from continuing and discontinued operations attributable to the owners of the Company is based on the following data:			本公司擁有人應佔持續經營及已終止 經營業務的每股基本盈利(虧損)乃按 以下數據計算:
				Six months ended 30 June
				截至6月30日止六個月 2021	2020
				(Unaudited)	(Unaudited)
				(未經審計)	(未經審計)
				RMB'000	RMB'000
				人民幣千元	人民幣千元
	Profit (loss) for the period attributable to owners of the Company for the purpose of calculating basic earnings (loss) per share	用於計算每股基本盈利 (虧損)的本公司擁有人 應佔期內溢利(虧損)		9,375	(2,375)
	The denominators used are the same as those detailed above for basic earnings (loss) per share.			所用分母與上文每股基本盈利(虧損) 所詳列之分母相同。

For the six months ended 30 June 2021 截至2021年6月30日止六個月

10. EARNINGS (LOSS) PER SHARE (Continued)

From discontinued operations

Basic earnings per share from discontinued operation is RMB0.17 cents per share (2020: RMB0.01 cents per share), based on the profit for the period from discontinued operation of approximately RMB2,570,000 (2020: approximately RMB113,000) and the denominators detailed above for basic earnings per share.

No diluted earnings (loss) per share for both six months ended 30 June 2021 and 2020 were presented as there were no potential ordinary shares in issue for both six months ended 30 June 2021 and 2020.

11. DIVIDENDS

No dividend was paid, declared or proposed during the interim period. The directors of the Company (the "Directors") have determined that no dividend will be paid in respect of the interim period.

12. PROPERTY, PLANT AND EQUIPMENT, RIGHT-OF-USE ASSETS AND INVESTMENT PROPERTIES

During the current interim period, the Group disposed of construction in progress with an aggregate carrying amount of approximately RMB12,201,000 (six months ended 30 June 2020: RMB Nil) through disposal of subsidiaries.

During the current interim period, the Group entered into a new lease agreement with lease terms of 2 years. The Group is required to make fixed monthly payments. On lease commencement, the Group recognised right-ofuse assets of approximately RMB1,422,000 (six months ended 30 June 2020: RMB Nil) and lease liabilities of approximately RMB1,422,000 (six months ended 30 June 2020: RMB Nil).

During the current interim period, lessors of the relevant office premise provided rent concessions that occurred as a direct consequence of the Covid-19 pandemic to the Group through rent reductions ranging from 10% to 15% over three to six months.

10. 每股盈利(虧損)(續)

來自已終止經營業務

來自已終止經營業務的每股基本盈利 為每股人民幣0.17分( 2020年:人民 幣0.01分),按已終止經營業務之期內 溢利約人民幣2,570,000元( 2020年: 約人民幣113,000元)及上文就每股基 本盈利所詳述之分母計算。

截至2021年及2020年6月30日止六個 月並無每股攤薄盈利(虧損),因為截 至2021年及2020年6月30日止六個月 並無已發行的潛在普通股。

11. 股息

於本中期期間概無股息獲派付、宣派 或建議派付。本公司董事(「董事」)釐 定就中期期間而言概無股息將獲派 付。

12. 物業、廠房及設備、使用權資產及 投資物業

於本中期期間,本集團透過出售附 屬公司出售總賬面值約為人民幣 12,201,000元(截至2020年6月30日止 六個月:人民幣零元)的在建工程。

於本中期期間,本集團訂立租賃期 限為2年的新租賃協議。本集團須作 出固定的月度付款。於租賃開始時, 本集團確認使用權資產約為人民幣 1,422,000元(截至2020年6月30日止 六個月:人民幣零元)及租賃負債約 為人民幣1,422,000元(截至2020年6 月30日止六個月:人民幣零元)。

於本中期期間,相關辦公場所的出租 人通過於三至六個月內10%至15%的 租金減免,向本集團提供作為2019冠 狀病毒病疫情的直接結果的租金寬 減。

For the six months ended 30 June 2021 截至2021年6月30日止六個月

12. PROPERTY, PLANT AND EQUIPMENT, RIGHT-OF-USE ASSETS AND INVESTMENT PROPERTIES (Continued)

These rent concessions occurred as a direct consequence of Covid-19 pandemic and met of all of the conditions in HKFRS 16.46B, and the Group applied the practical expedient not to assess whether the changes constitute lease modifications. During the current interim period, the effects on changes in lease payments due to forgiveness or waiver by the lessors for the relevant leases of approximately RMB25,000 (six months ended 30 June 2020: RMB Nil) were recognised as negative variable lease payments.

During the current interim period, the Group acquired investment properties of approximately RMB110,000,000 through acquisition of subsidiaries (six months ended 30 June 2020: approximately RMB138,328,000).

13. ACQUISITION OF ASSETS THROUGH ACQUISITION OF A SUBSIDIARY

On 15 March 2021, Shenzhen Ju Sheng Chuang Jian Investment and Development Limited ("Shenzhen Ju Sheng"), a wholly-owned subsidiary of the Company, acquired 60% equity interest and shareholder's loan of approximately RMB33,554,000 (the "Shareholder's Loan") of Shennongjia Da Jiu Hu Hotel Company Limited ("Shennongjia") from an independent third party (the "Vendor") at a consideration of RMB35,000,000, of which approximately RMB1,446,000 and RMB33,554,000 are for the acquisition of 60% equity interest of Shennongjia and the Shareholder's Loan respectively. Shennongjia holds properties under development which is located in People's Republic of China.

The assets acquired and liabilities assumed did not constitute a business combination as defined in HKFRS 3 (Revised) Business Combinations and therefore, the acquisition was accounted for as assets acquisition.

12. 物業、廠房及設備、使用權資產及 投資物業(續)

該等租金寬減為2019冠狀病毒病疫 情直接所致,並符合香港財務報告準 則第16號第46B段所列之所有條件, 本集團已應用可行權宜方法,不評估 該變動是否屬租賃修改。於本中期期 間,由於出租人就相關租賃作出寬免 或豁免而導致的租賃付款變動影響約 為人民幣25,000元(截至2020年6月30 日止六個月:約人民幣零元),已確認 為負可變租賃付款。

於本中期期間,本集團透過收購附 屬公司而收購投資物業約人民幣 110,000,000元(截至2020年6月30日 止六個月:約人民幣138,328,000元)。

13. 透過收購一間附屬公司收購資產

於2021年3月15日,本公司的全資附 屬公司深圳市聚晟創建投資發展有 限公司(「深圳聚晟」)向獨立第三方 (「賣方」)收購神農架大九湖賓館有 限公司(「神農架」)60%的股權及股 東貸款約人民幣33,554,000元(「股東 貸款」),代價為人民幣35,000,000元, 其中約人民幣1,446,000元及人民幣 33,554,000元分別用於收購神農架的 60%股權及股東貸款。神農架持有開 發中物業(位於中華人民共和國)。

所收購的資產及所承擔的負債不構成 香港財務報告準則第3號(經修訂)業 務合併 所界定的業務合併,因此該收 購入賬列為資產收購。

For the six months ended 30 June 2021 截至2021年6月30日止六個月

13.	ACQUISITION OF ASSETS THROUGH ACQUISITION OF A SUBSIDIARY (Continued)	13.	透過收購一間附屬公司收購資產 (續)
	Assets and liabilities recognised at the date of acquisition		於收購日期確認的資產及負債
			RMB'000 人民幣千元
	Properties under development Bank balances and cash Other receivables Amount due from the Vendor Amount due to Shenzhen Ju Sheng Amount due to the Vendor Other payables Net assets acquired of	發展中物業 銀行結餘及現金 其他應收款項 應收賣方款項 應付深圳聚晟款項 應付賣方款項 其他應付款項 收購的資產淨值	36,610 17 5,436 202 (6,300) (33,554) (1) 2,410
	Add: Assignment of Shareholder's Loan Less: Non-controlling interests (40% interest in Shennongjia)	加:股東貸款轉讓 減:非控股股東權益 (於神農架的40%權益)	33,554 (964)
	Consideration transferred	已轉讓的代價	35,000
	Net cash inflows arising on acquisition of Shennongjia		收購神農架產生的現金流入淨額
			RMB'000 人民幣千元
	Consideration paid in cash Less: bank balances and cash acquired	以現金支付的代價 減:所收購的銀行結餘及現金	– (17)
			(17)

2021中期報告 瀋陽公用發展股份有限公司 35

For the six months ended 30 June 2021 截至2021年6月30日止六個月

14. DISPOSAL OF SUBSIDIARIES

During the period ended 30 June 2021

(a) During the year ended 31 December 2020, the Directors resolved to cease all the Group's credit business. On 31 December 2020, the Company entered into a sale agreement with an independent third party (the "Purchaser I"), pursuant to which the Company sell the entire equity interest of Shenzhen Shen Wu Investment & Development Company Limited ("Shenzhen Shen Wu") and its subsidiaries (the "Shenzhen Shen Wu Group"), which include Chung Hwa Finance Limited ("Chung Hwa Finance"), and the shareholder's loan of approximately RMB15,709,000 at a consideration of approximately RMB5,000,000. Chung Hwa Finance carried out all of the Group's credit business. The disposal was completed on 2 June 2021, on which date the Group lost control of Shenzhen Shen Wu Group. The Group's credit business is treated as discontinued operation.

The loss for the current period from the discontinued credit business is set out below. The comparative figures in the condensed consolidated statement of profit or loss have been restated to re-present the credit business as a discontinued operation.

14. 出售附屬公司

截至2021年6月30日止期間

(a) 截至2020年12月31日止年度, 董事通過決議停止本集團的所 有信貸業務。於2020年12月31 日,本公司與獨立第三方(「買 方I」)訂立出售協議,據此,本 公司出售深圳市沈物投資發展 有限公司(「深圳沈物」)及其附 屬公司(「深圳沈物集團」)(包 括中華信貸有限公司(「中華 信貸」))全部股權及股東貸款 約人民幣15,709,000元,代價 約為人民幣5,000,000元。中華 信貸開展本公司的所有信貸業 務。出售事項於2021年6月2日 完成,本集團於該日期失去深 圳沈物集團的控制權。本集團 的信貸業務被視為已終止經營 業務。

來自已終止信貸業務之本期虧 損載列如下。簡明綜合損益表 內的比較數字已重列,以將信 貸業務重新呈列為已終止經營 業務。

		Six months ended 30 June 截至6月30日止六個月
		2021	2020
		RMB'000	RMB'000
		人民幣千元	人民幣千元
(Loss) profit of credit business for the period	期內信貸業務(虧損)溢利	(3)	205
Gain on disposal of	出售信貸業務收益
credit business		2,572	–
		2,569	205

14.	DISPOSAL OF SUBSIDIARIES (Continued)			14.		出售附屬公司(續)
		During the period ended 30 June 2021 (Continued)					截至2021年6月30日止期間(續)
	(a)	(Continued)				(a)	(續)
		The results of the credit business for the current and preceding interim periods were as follows:					本中期期間及上一個中期期間 的信貸業務業績如下:
							2021 RMB'000 人民幣千元	Six months ended 30 June 截至6月30日止六個月 2020 RMB'000 人民幣千元
		Other income Other operating expenses	其他收入 其他經營開支				– (3)	217	(12)
		(Loss) profit for the period		期內(虧損)溢利			(3)	205
		Gain on disposed of Shenzhen Shen Wu Group:					出售深圳沈物集團的收益:
								RMB'000 人民幣千元
		Net liabilities disposed of Assignment of shareholder's loan Non-controlling interests Reclassification of cumulative translation reserve upon disposal of Shenzhen Shen Wu Group to		已出售淨負債 股東貸款轉讓 非控股權益 於出售深圳沈物集團後重新分類累積 匯兌儲備至損益				(7,470) 15,709 (6,428)
		profit or loss						617

Gain on disposal	出售收益	2,428 2,572
Total consideration	總代價	5,000
Satisfied by: Cash	以下列方式結算: 現金	5,000
Net cash inflow arising on disposal: Total cash consideration received Bank balances and cash disposed of	出售所產生的的現金流入淨額: 已收取現金代價總額 已出售銀行結餘及現金	5,000 (143)
		4,857

RMB9,990,000. The disposal was completed on 2 February 2021, on which date the Group lost

control of Guangdong Xinmao.

For the six months ended 30 June 2021 截至2021年6月30日止六個月

2021年2月2日完成,本集團於 該日期失去廣東鑫茂的控制

權。

14.	DISPOSAL OF SUBSIDIARIES (Continued) During the period ended 30 June 2021 (Continued)			14.		出售附屬公司(續)
						截至2021年6月30日止期間(續)
	(a)	(Continued)			(a)	(續)
		Cash flows from Shenzhen Shen Wu Group				深圳沈物集團現金流量
						Six months ended 30 June 截至6月30日止六個月 2021 RMB'000 人民幣千元	2020 RMB'000 人民幣千元
		Net cash outflow from operating activities	經營活動現金流出淨額			(11)	(41)
		Net cash outflows	現金流出淨額			(11)	(41)
	(b)	During the current interim period, the Group entered into a sale agreement to dispose of its entire 90% equity interest in Guangdong Xinmao Biotechnology Company Limited ("Guangdong Xinmao") and shareholder's loan of approximately R M B13,886,000 a t a c o n s i d e r a t i o n o f			(b)	於本中期內,本集團訂立銷售 協議出售於廣東鑫茂生物科技 有限公司(「廣東鑫茂」)的全 部90%股權及股東貸款約人民 幣13,886,000元,代價為人民 幣9,990,000元。出售事項已於

38 Shenyang Public Utility Holdings Company Limited Interim Report 2021

For the six months ended 30 June 2021 截至2021年6月30日止六個月

14.	DISPOSAL OF SUBSIDIARIES (Continued) During the period ended 30 June 2021 (Continued)				出售附屬公司(續)
						截至2021年6月30日止期間(續)
	(b)	(Continued)			(b)	(續)
		Gain on disposal of Guangdong Xinmao:				出售廣東鑫茂的收益:
							RMB'000 人民幣千元
		Net liabilities disposed of Assignment of shareholder's loan Non-controlling interests	已出售淨負債 股東貸款轉讓 非控股權益				(4,915) 13,886 470
		Gain on disposal	出售收益				9,441 549
		Total consideration	總代價				9,990
		Satisfied by: Cash	以下列方式結算: 現金				9,990
		Net cash inflow arising on disposal: Total cash consideration received Bank balances and cash disposed of	出售所產生的的現金流入淨額: 已收取現金代價總額 已出售銀行結餘及現金				9,990 (43)

• (c) During the current interim period, the Group entered into a sale agreement to dispose of its entire 90% equity interest in Chaozhou Jiafu Packaging Materials Company Limited ("Chaozhou Jiafu") and shareholder's loan of approximately RMB22,365,000 at a consideration of RMB16,308,000. The disposal was completed on 27 April 2021, on which date the Group lost control of Chaozhou Jiafu.
• (c) 本中期內,本集團訂立銷售協 議出售於潮州市佳富包裝材料 有限公司(「潮州佳富」)的全部 90%股權及股東貸款約人民幣 22,365,000元,代價為人民幣 16,308,000元。出售事項已於 2021年4月27日完成,本集團 於該日期失去潮州佳富的控制 權。

9,947

14.	DISPOSAL OF SUBSIDIARIES (Continued)			14.		出售附屬公司(續)
		During the period ended 30 June 2021 (Continued)				截至2021年6月30日止期間(續)
	(c)	(Continued)			(c)	(續)
		Gain on disposal of Chaozhou Jiafu:				出售潮州佳富的收益:
							RMB'000 人民幣千元
		Net liabilities disposed of Assignment of shareholder's loan Non-controlling interests	已出售淨負債 股東貸款轉讓 非控股權益				(19,754) 22,365 1,865
		Gain on disposal	出售收益				4,476 11,832
		Total consideration	總代價				16,308
		Satisfied by: Cash	以下列方式結算: 現金				16,308
		Net cash inflow arising on disposal: Total cash consideration received Bank balances and cash disposed of	出售所產生的的現金流入淨額: 已收取現金代價總額 已出售銀行結餘及現金				16,308 (3)
							16,305

For the six months ended 30 June 2021 截至2021年6月30日止六個月

15. TRADE PAYABLES

Trade payables represented construction payables in relation to construction costs and other project-related expenses which are payable based on project progress measured by the Group. The suppliers have not specified the credit period granted to the Group.

The following is an aged analysis of trade payables at the end of the reporting period:

15. 應付賬款

應付賬款是指與建築成本及其他項目 相關的建築應付款項,應根據本集團 估量的項目進度進行支付。供應商並 無授予本集團指定信貸期。

以下為於報告期末的應付賬款的賬齡 分析:

2020
2020年
12月31日
(Audited)
(經審計)
RMB'000
人民幣千元
6,866
58,931
65,797

For the six months ended 30 June 2021 截至2021年6月30日止六個月

16. CAPITAL COMMITMENTS

16. 資本承擔

• At the end of the reporting period, the Group had the following capital commitments:
• 於報告期末,本集團的資本承擔如 下:

					30 June 2021 2021年 6月30日 (Unaudited) (未經審計) RMB'000 人民幣千元	31 December 2020 2020年 12月31日 (Audited) (經審計) RMB'000 人民幣千元
		Capital expenditure contracted for but not provided in the consolidated financial statements in respect of:		有關下列事項的已訂約但尚 未於綜合財務報表內撥備 的資本開支:
	(i)	Capital contribution to	(i)	向附屬公司注資
		subsidiaries			18,635	24,573
	(ii) (iii)	Acquisition of Properties I Construction cost of properties	(ii) (iii)	收購物業I 開發中物業的建築成本	3,700	3,700
		under development			31,665	–
					54,000	28,273
17.		RELATED PARTY TRANSACTIONS		17.	關連方交易

(a) 截至2021年及2020年6月30日 止期間,並無關連方交易。 (a) During the period ended 30 June 2021 and 2020, there is no related party transaction.

17.		RELATED PARTY TRANSACTIONS (Continued)	17.		關連方交易(續)
	(b)	At the end of the reporting period, the balances of related parties are as follows:		(b)	下:	於 報 告 期 末,關 連 方 結 餘 如
		Name of related party	關連方名稱	Note 附註	30 June 2021 2021年 6月30日 (Unaudited) (未經審計) RMB'000 人民幣千元	31 December 2020 2020年 12月31日 (Audited) (經審計) RMB'000 人民幣千元
		Amount due from a non	應付非控股權益款項
		controlling interest – Shenzhen Apple Culture Media Company Limited	-深圳市蘋果文化傳媒 有限公司	(i)	3,594	–
		Amount due to a shareholder – Beijing Lichuang	應付股東款項 -北京力創未來
		Future Technology Company Limited	科技有限公司	(i)	(1,743)	(2,153)
		Note:			附註:
		(i) The above balance is non-trade in nature, unsecured, non-interest bearing and repayable on demand.			(i) 還。	以 上 結 餘 屬 非 貿 易 性 質、 無抵押、免息及須按要求償
	(c)	Compensation of Directors and key management personnel		(c)	董事及主要管理人員的薪酬
					Six months ended 30 June 截至6月30日止六個月
					2021 (Unaudited) (未經審計) RMB'000 人民幣千元	2020 (Unaudited) (未經審計) RMB'000 人民幣千元
		Key management personnel's remuneration	主要管理人員薪酬		628	789

For the six months ended 30 June 2021 截至2021年6月30日止六個月

18. FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS

Fair value measurements and valuation process

The board of directors of the Company is responsible to determine the appropriate valuation techniques and inputs for fair value measurements.

In estimating the fair value, the Group uses marketobservable data to the extent it is available. Where Level 1 inputs are not available, the Group engages third party qualified valuers to perform the valuation. The Directors works closely with the qualified external valuers to establish the appropriate valuation techniques and inputs to the model.

The fair value of the financial assets and financial liabilities are determined (in particular, the valuation technique(s) and inputs used), as well as the level of the fair value hierarchy into which the fair value measurements are catergorised (Levels 1 to 3) based on the degree to which the inputs to the fair value measurements is observable.

• Level 1 fair value measurements are based on quoted prices (unadjusted) in active market for identical assets or liabilities;
• Level 2 fair value measurements are those derived from inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices); and
• Level 3 fair value measurements are those derived from valuation techniques that include inputs for the asset or liability that are not based on observable market data (unobservable inputs).

18. 財務工具之公允價值計量

公允價值計量及估值程序

本公司的董事會負責釐定相若的估值 技術及輸入數據的公允價值計量。

於估計公允價值時,本集團利用可得 的市場可觀察數據。若沒有第一級輸 入值,本集團會委聘第三方合資格估 值師來進行估值。董事與合資格外聘 估值師緊密合作以建立合適的估值技 術及模型輸入數據。

財務資產及財務負債之公允價值(尤 其是所使用的估值技術及輸入數 據),以及分類公允價值計量的公允 價值層級(第一至三級)乃根據公允價 值計量的輸入數據的可觀察程度而釐 定。

• 第一級公允價值計量指基於相 同財務資產或負債於活躍市場 上的報價(未經調整);
• 第二級公允價值計量指以該等 資產或負債的可觀察輸入數據 (第一級所包括的報價除外) 直接(即價格)或間接(即來自 價格)進行的計量;及
• 第三級公允價值計量指以該等 並非基於可觀察市場數據的資 產或負債的輸入數據(不可觀 察輸入數據)的估值技術進行 的計量。

For the six months ended 30 June 2021 截至2021年6月30日止六個月

current and prior period.

18. FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS (Continued)

Fair value of the Group's financial asset that is measured at fair value on a recurring basis

18. 財務工具之公允價值計量(續)

本集團財務資產之公允價值乃按經 常基準以公允價值計量

		Fair value as at 於以下日期的公允價值
Financial asset 財務資產	30 June 2021 2021年6月30日	31 December 2020 2020年12月31日	Fair value hierarchy 公允價 值層級	Valuation technique(s) and key input(s) 估值技術及 主要輸入數據	Significant unobservable input(s) 重大不可觀察 輸入數據
Private equity investments at FVTOCI (Note)	0.9% equity investment in Chaozhou Rural Commercial Bank Co., Ltd., which is engaged in banking activities in PRC – approximately RMB34,883,000	0.9% equity investment in Chaozhou Rural Commercial Bank Co., Ltd., which is engaged in banking activities in PRC – approximately RMB34,883,000	Level 3 Market approach		Discount of lack of marketability, determined by reference to the share price of listed entities in similar industries of 4.3% (2020: 4.3%)
按公允價值計入 其他全面收入的 私募股本投資 (附註)	於中國從事銀行業務 於中國從事銀行業務 的潮州農商銀行的 的潮州農商銀行的 1.38%股本投資 1.38%股本投資 —約人民幣 —約人民幣 34,883,000元 34,883,000元		第三級	市場法	缺乏市場流通性折價, 經參考類似行業上市 實體的股價釐定,為 4.3%(2020年:4.3%)
Note: An increase in discount of lack of marketability used in isolation would result in a decrease in fair value measurement of the unlisted equity investments at FVTOCI, and vice versa. For the six months ended 30 June 2021, a 1% (31 December 2020: 1%) increase/decrease in discount of lack of marketability and holding all other variables constant would decrease/increase the carrying amount of the unlisted equity investments at FVTOCI by approximately RMB365,000 (31 December 2020: RMB365,000).		附註: 日:人民幣365,000元)。	缺乏市場流通性折價單獨上升將導 致按公允價值計入其他全面收入的 非上市股本投資的公允價值計量減 少,反之亦然。截至2021年6月30日 止六個月,缺乏市場流通性折價上 升╱下降1%( 2020年12月31日: 1%),而所有其他變數維持不變,按 公允價值計入其他全面收入的非上 市股本投資的賬面值將下降╱上升 約人民幣365,000元( 2020年12月31
There were no transfers between levels 1, 2 and 3 in					本期間及過往期間第一、二及三級之

間並無轉讓。

For the six months ended 30 June 2021 截至2021年6月30日止六個月

financial asset

18. FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS (Continued)

Reconciliation of Level 3 fair value measurement of

18. 財務工具之公允價值計量(續)

財務資產第三級公允價值計量的對 賬

		Unlisted equity investments at FVTOCI 按公允價值 計入其他全面 收入的非上市 股本投資 RMB'000 人民幣千元
At 1 January 2020 (audited) and at 30 June 2020 (unaudited)	於2020年1月1日(經審計)及 於2020年6月30日(未經審計)	52,743
At 1 January 2021 (audited) and at 30 June 2021 (unaudited)	於2021年1月1日(經審計)及 於2021年6月30日(未經審計)	34,883

Other Information 其他資料

CODE OF CORPORATE GOVERNANCE

The Company has complied with all of the code provisions of the Corporate Governance Code and Corporate Governance Report (the "CG Code") as set out in Appendix 14 to the Listing Rules during the Period, except the following:

Code provision A.1.8 of the CG Code requires that the Company should arrange appropriate insurance cover in respect of legal action against its directors. The Company did not arrange such insurance cover during the Period as Directors considered that the risk of material legal claims against Directors is minimal. Nevertheless, the Board will review this arrangement from time to time in light of the prevailing circumstances and arrange for appropriate insurance coverage when necessary.

MODEL CODE FOR SECURITIES TRANSACTIONS BY DIRECTORS

The Company has adopted the Model Code as set out in Appendix 10 to the Listing Rules as the code for dealing in securities of the Company by the Directors. Having made enquiry of all Directors, the Company confirms that all the Directors have complied with the required standard set out in the Model Code for the Period.

PURCHASE, SALE OR REDEMPTION OF LISTED SECURITIES OF THE COMPANY

Neither the Company, nor any of its subsidiaries has purchased, redeemed or sold any of the listed securities of the Company during the Period.

REVIEW OF INTERIM RESULTS

The audit committee of the Company has reviewed the unaudited condensed consolidated financial information of the Group for the Period.

INTERIM DIVIDEND

The Board does not recommend the payment of interim dividends for the Period (2020 Corresponding Period: Nil).

企業管治守則

本公司已於期内遵守上市規則附錄十四所 載之企業管治守則及企業管治報告(「企管守 則」)之所有守則條文,惟下文除外:

企管守則之守則條文A.1.8規定,本公司應就 對其董事之法律行動投購合適之保險險種。 由於董事認為對董事提出重大法律索償之 風險不大,故本期本公司並無投購有關保險 險種。然而,董事會將視乎當前狀況不時檢 討此安排,並於有需要時投購合適之保險險 種。

董事進行證券交易之標準守則

本公司已採納載於上市規則附錄十所載之 標準守則,作為本公司董事買賣證券之守 則。經向全體董事作出查詢後,本公司確認 全體董事於本期已遵守載於標準守則之規 定標準。

購買、銷售或贖回本公司上市證券

於期內,本公司及其附屬公司概無購買、贖 回或銷售本公司任何上市證券。

審閱中期業績

本公司審核委員會已審閱本期本集團未經 審計簡明綜合財務資料。

中期股息

董事會不建議就本期派發中期股息( 2020年 同期:無)。

Other Information 其他資料

DIRECTORS', CHIEF EXECUTIVES' AND SUPERVISORS' INTERESTS IN SECURITIES

As at 30 June 2021, none of the Directors, chief executives and supervisors of the Company had interests or short positions in any securities of the Company or any of its associated corporations (within the meaning of Part XV of the SFO) which are required (a) to be notified to the Company and the Stock Exchange pursuant to Divisions 7 and 8 of Part XV of the SFO (including interests or short positions which they are taken or deemed to have under such provisions of the SFO); or (b) pursuant to section 352 of the SFO, to be entered in the register referred to therein; or (c) pursuant to the required standard of dealings by Directors and supervisors as referred to in the Model Code to be notified to the Company and the Stock Exchange.

SHAREHOLDINGS OF SUBSTANTIAL SHAREHOLDERS

As at 30 June 2021, save as the Directors, supervisors and chief executives of the Company, the following corporations and individuals had interests and/or short positions in the Company's Shares, underlying Shares, securities, equity derivatives and/or debentures, which are required to be recorded in the register maintained by the Company pursuant to section 336 of the SFO:

董事、最高行政人員及監事於證券之權益

於2021年6月30日,概無本公司董事、最高行 政人員及監事於本公司或其任何相聯法團 (定義見證券及期貨條例第XV部)之任何證 券中,擁有(a)須根據證券及期貨條例第XV部 第7及第8分部須知會本公司及聯交所之權益 或淡倉(包括根據證券及期貨條例之該等條 文,彼等被當作或視為擁有之權益或淡倉); 或(b)須根據證券及期貨條例第352條須記入 該條例所述之登記冊之權益或淡倉;或(c)根 據標準守則所載董事及監事進行交易之規 定準則,須知會本公司及聯交所之權益或淡 倉。

主要股東持股情況

截至2021年6月30日,除本公司董事、監事及 最高行政人員以外,以下公司及人士擁有本 公司的股份、相關股份、證券、股本衍生工 具及╱或債券中的權益及╱或淡倉,且該等 權益及╱或淡倉須根據證券及期貨條例第 336條須於本公司備存的登記冊所記錄:

	Interest owners	Shares	Percentage of total issued share capital 佔已發行股本
	權益持有人	股份	總數百分比
1	Beijing Hua Xia Ding 北京華夏鼎	420,000,000 Domestic Shares 420,000,000股內資股	28.58%
2	Huang Guang Fu (Note 1) 黃廣服(附註1)	420,000,000 Domestic Shares 420,000,000股內資股	28.58%
3	Beijing Lichuang Future 北京力創未來	180,000,000 Domestic Shares 180,000,000股內資股	12.25%
4	Zhai Ming Yue (Note 2) 翟明月(附註2)	180,000,000 Domestic Shares 180,000,000股內資股	12.25%
5	Shenzhen Wan Zhong Run Long 深圳萬眾潤隆	140,000,000 Domestic Shares 140,000,000股內資股	9.53%
6	Zhang Song (Note 3) 張松(附註3)	140,000,000 Domestic Shares 140,000,000股內資股	9.53%
7	HKSCC Nominees Limited (Note 4) 香港中央結算(代理人)有限公司(附註4)	605,376,000 H-Shares (listed shares) 605,376,000股H股(上市股份)	41.20%

Other Information 其他資料

Notes:

• 1. Huang Guang Fu is a PRC resident who holds 100% equity interests in Beijing Hua Xia Ding. Pursuant to section 316 of the SFO, Huang Guang Fu is also deemed to be interested in the underlying Shares held by Beijing Hua Xia Ding.
• 1. Zhai Mingyue is a PRC resident who holds 100% equity interests in Beijing Li Chuang Future. Pursuant to section 316 of the SFO, Zhai Mingyue is also deemed to be interested in the underlying Shares held by Beijing LiChuang Future.
• 1. Zhang Song is a PRC resident who holds 100% equity interests in Shenzhen Wan Zhong Run Long. Pursuant to section 316 of the SFO, Zhang Song is deemed to be interested in the underlying Shares held by Shenzhen Wan Zhong Run Long.
• 1. As notified by HKSCC Nominees Limited, as of 30 June 2021, the following participants of CCASS had interests amounting to 5.00% or more of the total issued H-Shares of the Company as shown in the securities accounts in CCASS:
• (1) The Hongkong and Shanghai Banking Corporation Limited as nominee holds 86,808,740 H-Shares, representing 14.33% of the issued H-Shares of the Company.
• (2) Ever-long Securities Company Limited as nominee holds 64,282,000 H-Shares, representing 10.61% of the issued H-Shares of the Company.
• (3) Bank of China (Hong Kong) Limited as nominee holds 61,720,000 H-Shares, representing 10.19% of the issued H-Shares of the Company.

Save as disclosed above, as at 30 June 2021, the Company has not been notified of any interests and/or short positions in Shares, underlying Shares, securities, equity derivatives and/or debentures of the Company which are required to be recorded in the register maintained in accordance with section 336 of the SFO.

附註:

• 1. 黃 廣 服 是 中 國 公 民,於 北 京 華 夏 鼎 持 有 100%股權。根據證券及期貨條例第316條, 黃廣服亦被視為在北京華夏鼎持有的相關股 份中擁有權益。
• 1. 翟明月是中國公民,於北京力創未來持有 100%股權。根據證券及期貨條例第316條, 翟明月亦被視為在北京力創未來持有的相關 股份中擁有權益。
• 1. 張 松 是 中 國 公 民,於 深 圳 萬 眾 潤 隆 持 有 100%股權。根據證券及期貨條例第316條, 張松被視為在深圳萬眾潤隆持有的相關股份 中擁有權益。
• 1. 根據香港中央結算(代理人)有限公司的通 知,截至2021年6月30日,下列中央結算系統 參與者在中央結算系統股票戶口內持有本公 司已發行H股股份總數的5.00%或以上:
• (1) 香港上海滙豐銀行有限公司代理持 有86,808,740股H股,佔本公司已發 行H股14.33%。
• (2) 長雄證券有限公司代理持有 64,282,000股H股,佔本公司已發行 H股10.61%。
• (3) 中國銀行(香港)有限公司代理持有 61,720,000股H股,佔本公司已發行 H股10.19%。

除上述披露外,本公司於2021年6月30日並 未接獲有任何須按證券及期貨條例第336條 須於備存的登記冊所記錄的本公司股份、相 關股份、證券、股本衍生工具及╱或債權證 中的權益及╱或淡倉。

Glossary 專用詞彙

In this report, unless the context otherwise requires, the following expressions shall have the following respective meanings.

於本報告,除文義另有所指,下列詞彙具有 以下各自涵義。

"2020 Corresponding Period"	for the six months ended 30 June 2020
「2020年同期」	截至2020年6月30日止六個月
"Beijing Hua Xia Ding"	Beijing Hua Xia Ding Technology Company Limited*
「北京華夏鼎」	北京華夏鼎科技有限公司*
"Beijing Lichuang Future"	Beijing Lichuang Future Technology Company Limited
「北京力創未來」	北京力創未來科技有限公司
"Beijing Shen Shang" 「北京瀋商」	Beijing Shen Shang Investment & Consulting Company Limited*, a wholly owned subsidiary of the Company 北京瀋商投資諮詢有限公司,本公司全資附屬公司
"Beijing Zhong Tou"	Beijing Zhong Tou Chuang Zhan Property Limited*
「北京中投」	北京中投創展置業有限公司
"Board"	the board of Directors
「董事會」	董事會
"Chaozhou Jiafu"	Chaozhou Jiafu Packaging Materials Company Limited*
「潮州佳富」	潮州市佳富包裝材料有限公司
"Chaozhou Jinshan"	Chaozhou Jinshan Investment and Development Company Limited*
「潮州金山」	潮州市金山投資開發有限公司
"Company"	Shenyang Public Utility Holdings Company Limited*
「本公司」	瀋陽公用發展股份有限公司
"Director(s)"	the directors of the Company
「董事」	本公司董事
"Domestic Shares" 「內資股」	domestic shares with a nominal value of RMB1 each in the share capital of the Company which are subscribed for in RMB 本公司股本中每股面值人民幣1元的內資股,以人民幣認購
"Group"	the Company and its subsidiaries
「本集團」	本公司及其附屬公司
"Guangdong Xinmao"	Guangdong Xinmao Biotechnology Company Limited*
「廣東鑫茂」	廣東鑫茂生物科技有限公司
"Hong Kong"	the Hong Kong Special Administrative Region of the PRC
「香港」	中國香港特別行政區

* For identification purpose only * 僅供識別

Glossary 專用詞彙

"H-Shares" 「H股」	overseas listed foreign ordinary share(s) of the Company with a nominal value of RMB1 each, all of which are listed on the main board of the Stock Exchange and subscribed for and traded in Hong Kong dollars 本公司每股面值人民幣1元之境外上市外資普通股,全部均在聯交所主板上
"Independent Third Party(ies)"	市及以港元認購及買賣 the independent third party(ies) who is/are, to the best of the Directors' knowledge, information and belief having made all reasonable enquiry, independent of the Company and its connected persons (as defined under the
「獨立第三方」	Listing Rules) 於作出一切合理查詢後,就董事深知、盡悉及確信,獨立於本公司及其關連 人士(定義見上市規則)的獨立第三方
"Listing Rules"	the Rules Governing the Listing of Securities on the Stock Exchange
「上市規則」	聯交所證券上市規則
"Model Code"	Model Code for Securities Transactions by Directors of Listed Issuers
「標準守則」	上市發行人董事進行證券交易的標準守則
"Period"	for the six months ended 30 June 2021
「本期」	截至2021年6月30日止六個月
"PRC"	the People's Republic of China
「中國」	中華人民共和國
"RMB"	Renminbi, the lawful currency of the PRC
「人民幣」	人民幣,中國法定貨幣
"SFO"	Securities and Futures Ordinance (Chapter 571 of the laws of Hong Kong)
「證券及期貨條例」	證券及期貨條例(香港法例第571章)
"San He Jing Jiao"	San He Jing Jiao Property Development Company Limited*
「三河京郊」	三河京郊房地產開發有限公司
"Share(s)"	H-Share(s) and Domestic Share(s)
「股份」	H股及內資股
"Shareholders"	holders of H-Shares and Domestic Shares
「股東」	H股及內資股持有人
"Shennongjia Hotel"	Shennongjia Dajiuhu Hotel Company Limited
「神農架賓館」	神農架大九湖賓館有限公司
"Shen Wu Investment"	Shenzhen Shen Wu Investment & Development Company Limited*, a wholly owned subsidiary of the Company
「沈物投資」 "Shenzhen Shenhe"	深圳市沈物投資發展有限公司,本公司之全資附屬公司 Shenzhen Shenhe Chuang Li Investment and Development Company Limited*, a wholly-owned subsidiary of the Company
「深圳深合」	深圳市深合創立投資發展有限公司,本公司全資附屬公司
*	僅供識別
For identification purpose only	*

Glossary 專用詞彙

	By order of the Board 承董事會命 Shenyang Public Utility Holdings Company Limited 瀋陽公用發展股份有限公司
「中房潮州」	wholly-owned subsidiary of the Company 中房潮州投資開發有限公司,本公司全資附屬公司
"Zhongfang Chaozhou"	Zhongfang Chaozhou Investment Development Company Limited*, a
"Stock Exchange" 「聯交所」	The Stock Exchange of Hong Kong Limited 香港聯合交易所有限公司
"Shenzhen Wan Zhong Run Long" 「深圳萬眾潤隆」	Shenzhen Wan Zhong Run Long Investment Company Limited 深圳市萬眾潤隆投資有限公司
「深圳同合」	wholly-owned subsidiary of the Company 深圳市同合創建投資發展有限責任公司,本公司全資附屬公司
"Shenzhen Tong He"	Shenzhen Tong He Chuangjian Investment Development Company Limited*, a

Zhang Jing Ming Chairman

中國,瀋陽,2021年8月26日

As at the date hereof, the executive directors of the Company are Mr. Zhang Jing Ming, Mr. Leng Xiao Rong and Mr. Chau Ting Yan, the non-executive directors of the Company are Mr. Yin Zong Chen and Mr. Ye Zhi E and the independent non-executive directors of the Company are Mr. Luo Zhuo Qiang, Mr. Guo Lu Jin and Ms. Gao Hong Hong.

Shanyang, the PRC, 26 August 2021

於本報告日期,本公司執行董事為張敬明先 生、冷小榮先生及周霆欣先生;本公司非執 行董事為尹宗臣先生及葉智鍔先生;及本公 司獨立非執行董事為羅卓強先生、郭魯晉先 生及高紅紅女士。

主席 張敬明