HONG KONG, Aug 31, 2023 – (ACN Newswire) – Value Convergence Holdings Limited ("VC Holdings", together with its subsidiaries, the "Group"; Stock Code: 0821.HK), a well-established and one-stop financial services institution in Hong Kong, is pleased to announce its unaudited interim results for the six months ended 30 June 2023 (the "Reporting Period"). The Group focused on improving its core competence in the industry by expanding its asset management and insurance brokerage businesses, while encouraging progress was made in its digital assets business during the Reporting Period.

During the Reporting Period, the Group's consolidated revenue increased by about 10% year on year to approximately HK$39.4 million (1H 2022: approximately HK$35.7 million), attributable primarily to the growth of sales and marketing in its digital assets business, as well as the commencement of its insurance brokerage and asset management businesses. Despite sound operations and the rollout of innovative developments, brokerage commissions declined substantially, in line with the deterioration of Hong Kong's capital markets. The volatile and weakened equity market hampered the Group's key business, leading to an increase in net realised and unrealised loss in financial assets. Coupled with other factors including increase in impairment loss on accounts receivable and other receivables, recognition of equity-settled share option expense and absence of gain on acquisition of financial assets during the Reporting Period, the consolidated loss attributable to shareholders amounted to approximately HK$134.1 million (1H 2022: loss for the period attributable to shareholders of HK$61.8 million). Basic loss per share was HK5.43 cents (1H 2022: HK2.97 cents).

Mr. Peter Fu, Chairman and Executive Director of Value Convergence Holdings Limited, said, "During the first half of 2023, the global economy experienced severe headwinds, attributable mainly to the lingering effects of the Coronavirus Disease 2019 ("COVID-19" or the "pandemic"), the ongoing Russia-Ukraine conflict, and soaring inflation in both developed and developing countries. These issues resulted in reduced investor confidence, leading to significant volatility on financial markets and the Group's performance. In view of market volatility, the Group made significant efforts to enhance the diversification of its business to create a new engine for revenue growth and mitigate operational risks amid market uncertainty."

Business Overview
Financial Services Business
During the Reporting Period, with its persistent efforts to diversify its business, the contribution of the Group's traditional brokerage and financing businesses to its total revenue declined to approximately 80.0%. The Group continued to offer local and overseas securities trading, derivatives and trading in other structure products, placements, underwriting and margin financing services through VC Brokerage Limited ("VC Brokerage"), and financing services through VC Finance Limited ("VC Finance"). The Group also acted as a placing agent and underwriter for a Hong Kong-listed company's fundraising activities. In addition, the Group offered corporate finance advisory services, including mergers and acquisitions advisory through VC Capital Limited ("VC Capital") and company secretarial services through VC Corporate Services Limited ("VCCS").

Significant business development was achieved in asset management and insurance brokerage segments, with both beginning to generate appreciable revenues during the Reporting Period. In April 2023, the Group completed its acquisition of VC International Asset Management Limited (formerly known as "Anli Asset Management Limited"), allowing it to offer Type-9 (asset management) regulated services under and pursuant to the Securities and Futures Ordinance. Operating income was derived from management fees and performance fees earned from the provision of asset management services. Following the acquisition, the Group successfully expanded its customer base, enhanced its asset management business, and improved service quality. This has boosted the Group's core competence in the asset management market, expecting the asset management business one of its fastest-growing segments. The Group also provides insurance brokerage services through Experts Management Limited, which holds an insurance broker company licence and is authorized to engage in long-term insurance activities.

Proprietary Trading Business
Global capital markets remained volatile during the first half of 2023. As of 30 June 2023, the Group held financial assets for trading, comprising equity securities listed in Hong Kong, worth approximately HK$219.7 million. During the Reporting Period, the Group held stocks mainly in the information technology and energy sectors.

Digital Assets Business
During the Reporting Period, the business segment achieved solid advances and significant revenue growth with both sales and marketing making remarkable progress, indicating that the Group's long-term efforts in this field have begun to pay off. Following the formation of a professional sales and marketing team to broaden its sales channels, the Group's gross merchandise value ("GMV") – the gross sum of virtual assets sold to its customers – increased by approximately 44% year on year to around RMB147.0 million in the first half of 2023.

Outlook
Looking ahead, tighter credit conditions, reduced household savings in the US, and a slower-than-expected economic recovery in post-pandemic China remain major concerns that could prolong the global economic recovery. On a positive note, improved economic conditions in Hong Kong are expected to boost local demand. Meanwhile, Hong Kong's government will enhance the city's capital market interconnection mechanism to provide more opportunities for enterprises and investors, promoting a stable recovery of economic activity.

To expedite the development of the Group's financial services business, additional resources will be allocated to expand its asset management and insurance brokerage businesses, which are expected to yield solid profits for the Group in the near future. With the reopening of the Hong Kong and mainland China border, the Group's senior management team will visit potential investors and business partners in mainland China more frequently to explore business collaboration opportunities. Besides, the Group intends to expand its client base and improve the quality of its asset management services by leveraging the brands, reputations and management expertise of VC International Asset Management Limited and Anli Investment Fund SPC, boosting its core industry strengths.

Mr. Fu concluded, "To create new impetus for revenue growth and reduce the overall business risk, we will continue to diversify our businesses and prudently explore new opportunities. Our commitment to business diversification has enabled us to remain competitive in an ever-changing business landscape. Both asset management and insurance brokerage businesses, which demonstrated strong business growth during the Reporting Period, will remain as the main focus of our sustainable business development strategy. Capitalising on our solid experience and extensive portfolio of financial products and services, we will continue to improve profitability and generate returns to our shareholders and investors in the long run."

About VC Holdings Limited
Value Convergence Holdings Limited (Stock code: 0821.HK) was listed on the GEM board of Hong Kong Stock Exchange in 2001, and completed transfer of listing to the Main Board in 2008. Being a well-established financial services group committed to delivering premier financial services and products in the Great China region, the Group's services include (i) provision of financial services comprising securities and options brokering and dealing, financing services, corporate finance and other advisory services, asset management and insurance brokerage; (ii) proprietary trading; and (iii) sale and marketing of digital assets.

For more details, please visit www.vcgroup.com.hk.


Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

HONG KONG, Aug 31, 2023 – (ACN Newswire) – In March this year, Guo Guangchang, Chairman of Fosun International, used the "perfect storm" as a metaphor for Fosun's encounters in 2022 at the annual results presentation. The market is generally concerned about how this consumer group will navigate the new economic cycle after winning out over the "perfect storm"?

On 31 August, Fosun International held its 2023 interim results presentation. Guo Guangchang said at the presentation, "It is very clear that we have won out over the cycle and Fosun's liquidity pressure has been well managed. From now on, we will focus on the development of businesses where we boast clear competitive advantages. Development is the key solution to all issues."

According to the interim results announced on 30 August, in the first half of 2023, Fosun achieved total revenue of RMB97.06 billion, representing a year-on-year increase of 10.9%; profit attributable to owners of the parent was RMB1.36 billion. The key indicator reflecting a company's endogenous growth capabilities – industrial operation profit surged 66% (excluding the effects of asset disposed) year-on-year to RMB3.37 billion. After further sorting out the balance sheet, cash flow statement, and operational figures of each segment, it is evident that Fosun, which has been firmly implementing the business streamlining and core business-focused strategy, has successfully unloaded its debt burden, enhanced the development of core industries, and laid a stronger foundation to usher in a new round of development.

Business streamlining: reduced more than RMB40.0 billion debt in a year, liquidity pressure has been lifted

In 2022, due to the impact of the epidemic and fluctuations in the global capital market, coupled with the rumors, there were once concerns about Fosun's debt issue.

According to the interim results announced on 30 August, as of 30 June 2023, Fosun International's total debts at the consolidated level was RMB220.9 billion, a significant decrease of RMB40.2 billion compared to RMB261.1 billion as of 30 June 2022. Total debts to total capital ratio further dropped to 51.8%, and the average cost of debt was 5.32%, demonstrating Fosun's ability to manage financing costs amid sharply rising global interest rates.

In addition, on 30 June, Fosun International arranged to redeem the USD700 million offshore bond due on 2 July. Therefore, total debts at the consolidated level narrowed to RMB216.4 billion, and if excluding the debts of its consolidated listed subsidiaries such as Yuyuan, Fosun Pharma, and Fosun Tourism Group (FTG) Fosun's debt at the holding company level narrowed to RMB90.2 billion accordingly.

Data shows that during the reporting period, Fosun redeemed onshore bonds of RMB6.73 billion as well as USD offshore debt and syndicated loans with an amount of more than USD2.7 billion, and it had no material offshore bonds due in the next 12 months. As of 30 June 2023, cash and bank balances and term deposits were abundant, reaching RMB114.68 billion.

Since last year, through business streamlining, Fosun has not only navigated through the "maturity wall" but also built a stronger foundation for sustainable development.

According to the interim results announcement, Fosun has continued to firmly push forward the implementation of the divestment of non-strategy and non-core assets in 2023. In the first half of the year, cash received from divestment at the consolidated level exceeded RMB20.0 billion. Meanwhile, Fosun has further expanded its domestic and overseas financing channels. In January, Fosun obtained a syndicated loan of RMB12 billion led by the five major state-owned banks. Fosun maintained an extensive collaboration network of domestic and foreign banks, executed an offshore syndicated loan in April 2023, amounting to no less than USD500 million as of 30 June. In terms of open-market financing channels, it issued super short-term commercial papers of RMB1 billion each in January and July 2023 respectively.

The significant credit support received continuously and the successful issuance of financing bonds reflect domestic and foreign financial institutions' full recognition of Fosun's financial strategy and business-focused strategy. Previously, the international credit rating agency S&P Global Ratings had noticed Fosun's stable development, and issued a report on 30 May, lifting Fosun's rating outlook to "stable".

Analysts believe that in the face of the complex and volatile international political landscape, the weakening momentum of global economic recovery, and challenges such as insufficient demand in the domestic economy, China's private enterprises have experienced a high incidence of defaults since the beginning of this year. "Against the backdrop of such an external environment, Fosun's ability to reduce debt and risk resilience are even more remarkable."

Focused development: industrial operation profit jumped 66%, with core businesses stimulating endogenous growth

The industrial operation profit disclosed in Fosun's results announcement has always been highly concerned by the market and investors. This indicator includes the profit contribution of industrial operation subsidiaries of the Group and associates and joint ventures accounted by equity method. Compared with the profit attributable to owners of the parent, which is greatly influenced by capital market fluctuations, industrial operation profit can better portray the performance of Fosun's core businesses.

In the first half of 2023, the Group's industrial operation profit reached RMB3.37 billion, excluding the profit of disposed (including transactions yet to be completed) enterprises, representing a significant year-on-year increase of 66%. This reflects the further release of Fosun's endogenous momentum after stepping up its efforts to focus on household consumption as the top-priority sector.

"We focus on our existing capabilities and further strengthen them. We no longer take expansion as the main direction of development. We invest in industries where we boast clear competitive advantages as our foundation. We have further defined and fine tuned our strategy," Guo Guangchang said.

In the first half of the year, centering around the needs of global families in Health, Happiness, and Wealth, the four core subsidiaries of Yuyuan, Fosun Pharma, Fosun Insurance Portugal, and FTG continued to improve their products and services, yielded a total revenue of RMB70.76 billion, accounting for 73% of the Group's total revenue, with increasing profit contribution.

In particular, Yuyuan's revenue amounted to RMB27.44 billion in the first half of the year, representing a year-on-year increase of 21.86%; net profit attributable to owners of the parent was RMB2.218 billion, representing a year-on-year increase of 225.83%. In the first half of the year, FTG saw a 38.7% surge year-on-year in its revenue to RMB8.90 billion and turned profitable, with a net profit attributable to equity holders of the company of RMB471.8 million. Fosun Pharma's revenue in the first half of the year was RMB21.395 billion, and the revenue contribution of new and sub-new products further increased. Fosun Pharma's innovative biopharmaceutical platform, Shanghai Henlius, achieved revenue of RMB2.5005 billion in the first half of the year, representing a year-on-year increase of 93.9%, and turned profitable for the first time in half a year, with a net profit of RMB240 million.

Analysts believe that the growth of Fosun's core businesses in the first half of the year was attributable to its efforts in seizing the opportunity of consumption recovery, and more importantly, the accumulation of profound industry operations. Its long-term accumulation of innovation and global operational capabilities are continuing to be reflected in its results.

Taking Shanghai Henlius as an example, its revenue growth mainly came from its self-developed core products. In particular, HANQUYOU (trastuzumab of injection) and HANSIZHUANG (serplulimab injection) achieved sales revenue of approximately RMB1.2767 billion and RMB556.3 million respectively. At present, HANQUYOU has been accepted by the U.S. Food and Drug Administration (FDA) for the marketing authorization application (MAA) in the U.S., and it is expected to become the first domestic biosimilar approved in China, the U.S. and Europe; HANSIZHUANG has been approved for three indications in China, and has become the world's first monoclonal antibody drug targeting PD-1 for first-line treatment of extensive-stage small cell lung cancer. With the empowerment of Fosun's global ecosystem, Shanghai Henlius has launched five self-developed products on the market, reaching more than 40 markets around the world and benefiting more than 450,000 patients.

Fosun International's interim results show that Fosun invested RMB4.2 billion in technology and innovation in the first half of the year, representing a year-on-year increase of 20%, injecting impetus to foster more "world's firsts" and "China's firsts".

Meanwhile, based on Fosun's business presence and profound operations in more than 35 countries and regions, the "global organization + local operations" model has become more mature. Overseas business has become an important driving force for Fosun's development. In the first half of the year, overseas revenue amounted to RMB44.09 billion, accounting for 45.4% of total revenue, and the 10-year compound growth rate reached 60%.

"Fosun has built global development capabilities through years of hard work. Fosun itself has indeed benefited from its strong global operations, and we will continue to further build up our globalization capabilities," Guo Guangchang, Chairman of Fosun International said in the interim results conference.

It is worth mentioning that the results of the "mutual empowerment" of Fosun's global operations have further emerged. In the first half of the year, Easun Technology, headquartered in Shanghai, China, recorded a significant increase in overseas orders. In particular, it saw robust growth in business operations in North America. New orders reached RMB1.38 billion in the first half of 2023, representing a year-on-year increase of 131.2%. Fosun Insurance Portugal, headquartered in Lisbon, Portugal, has made steady progress in its global business, premium income in Peru and Bolivia reached RMB816 million and RMB200 million respectively, representing an increase of 61% and 43% year-on-year respectively.

Looking ahead to the second half of the year, "recovery" will still be the keyword for the global economy. Guo Guangchang said, in the future, Fosun will continue to focus on core businesses, consolidate resources to develop businesses where we boast clear competitive advantages, deepen innovation and global operations, and further promote the high-quality development of our businesses. "Both business and economy have cycles. We must innovate, develop, and better serve customers one step at a time to navigate the cycle."


Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

HONG KONG, Aug 29, 2023 – (ACN Newswire) – Everbright Grand China Assets Limited ("Everbright Grand China" or the "Group"; HKEX stock code: 03699), a subsidiary of China Everbright Group, principally engaged in the businesses of property leasing, property management and the sales of properties held for sale, announced its interim results for the six months ended 30 June 2023 ("Reporting Period").

During the reporting period, the Group recorded a revenue of approx. RMB22.1 million, represented a decrease of approx. RMB5.0 million compared with the corresponding period of last year (2022: RMB27.1 million), mainly due to the drop in the occupancy rate. Profit attributable to equity shareholders of the Company amounted to approx. RMB13.3 million (2022: RMB12.3 million), representing an increase of approximately RMB1.0 million as compared to the same period last year, mainly attributable to the rise in the valuation gains on investment properties. The basic earnings per share was approximately RMB0.03. (2022: RMB 0.03).

Property Leasing
As at 30 June 2023, the Group's property portfolio includes Everbright Financial Center, part of Everbright International Mansion and Ming Chang Building, which are located in Chengdu, Sichuan Province and Kunming, Yunnan Province, respectively, with a total gross floor area of approximately 89,507 (31 December 2022: 89,507) sq.m. During the reporting period, the average occupancy rate of the properties was approximately 73%. (2022: 86%). The Group generated a rental income of approx. RMB 16.2 million (2022: RMB 20.0 million), representing a decrease of approx. RMB 3.8 million as compared to the same period last year, mainly due to the drop in the occupancy rate.

Property Management Service
The Group has a professional property management team to provide management services to Everbright Financial Center and Everbright International Mansion to maximize the value of the properties. During the reporting period, revenue from the property management services was approx. RMB 5.9 million (2022: RMB 7.1 million), representing a decline of approx. RMB 1.2 million as compared to the same period last year, mainly due to the rise in the vacancy rate of the properties.

Investment Properties
As at 30 June 2023, the fair value of the investment properties was RMB 959.5 million (31 December 2022: RMB 954.1 million). For the six months ended 30 June 2023, the valuation gains on investment properties amounted to approx. RMB 5.4 million (2022: RMB 0.7 million), representing an increase of approx. RMB 4.7 million as compared to the same period last year.

As at 30 June 2023, the Group maintained cash and bank balances of approx. RMB224.0 million (31 December 2022: RMB214.9 million). The Group's gearing ratio, being measured by the Group's total liabilities over its total assets, was 19.0% (31 December 2022: 18.3%). The Group's liquidity position was well-managed.

During the reporting period, the Group's tenants, lease contracts, and occupancy rates have remained relatively stable. Although market fluctuations may persist in the second half of the year, we anticipate that with the stable business performance of our clients and the stability of our lease contracts, the occupancy rate has likely reached its bottom and will remain stable or gradually improve in the future, and the rental prices will also continue to stabilize.

Prospects
In the first half of the year, the Group's property leasing business was inevitably impacted by the series of unstable risks that still hampered the overall business environment, along with higher interest rates in the global market, the relatively subdued consumer sentiment in mainland China and the lack of significant pickup in the real estate market. However, leveraging the abundant cash reserves and absence of debt, the Group is well-positioned to capitalize on the high-interest rate environment to generate more interest income. Benefiting from the synergy created by the China Everbright Group and the popularity of the "Everbright" brand, the Group can maintain a friendly long-term cooperation that is mutually beneficial and creates a win-win situation that contributes to the stable growth of its leasing business. In the second half of 2023, the Group plans to continue expanding the scale of property management services and will pursue three key development strategies of increasing leasing activities, optimizing capital management, and exploring new investment opportunities. By increasing leasing volume and utilizing its funds prudently, the Group aims to achieve stable and robust investment growth.

Looking ahead, the central government remained committed to driving economic growth by introducing a series of revitalization policies, which are expected to stimulate the housing and rental markets and positively impact stabilizing the growth of the property management industry. Given the unstable international environment, the Group maintains a cautious approach towards acquiring overseas properties. On the contrary, should opportunities arise in mainland China, the Group will consider the acquisition of high-quality projects to diversify our business portfolio and generate long-term investment returns. Simultaneously, the Group will actively optimize and enhance our service quality and user experience to further strengthen our competitiveness and resilience, and strive to achieve long-term, stable and abundant profits for our shareholders.

About Everbright Grand China Assets Limited
Everbright Grand China Assets Limited, a subsidiary of China Everbright Group, principally engaged in the businesses of property leasing, property management, and sales of properties held for sale, owns, leases, and manages properties located in Chengdu, Sichuan province, and also owns and leases a property located in Kunming, Yunnan province. The properties are located in the city of Chengdu and Kunming, the key cities of western China. The property portfolio comprised three commercial properties, namely Everbright Financial Center, part of Everbright International Mansion and Ming Chang Building.

For further details regarding to Everbright Grand China Assets Limited, please visit its website at https://ebgca.com.hk/.


Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

HONG KONG, Aug 29, 2023 – (ACN Newswire) – New Hope Service Holdings Limited ("New Hope Service" or "the Company", stock code: 3658.HK), a rare comprehensive service enterprise with property management services, lifestyle services and commercial operational services, announced its interim results for the six months ended 30 June 2023 (the "Reporting Period").

In the first half of 2023, New Hope Service adhered to the strategy of regional cultivation and achieved quality growth in results. During the Reporting Period, the Company recorded revenue of approximately RMB600 million, 17.1% more than in the same period of 2022. Gross profit was approximately RMB226 million, and gross profit margin was 37.7%. Net profit margin attributable to the parent Company was 18.3%, remaining at mid-to-high level. During the period, the Company has strengthened operations and lean management, yielding profit attributable to equity shareholders of the Company amounted to approximately RMB109 million, 9.6% more year-on-year. Basic earnings per share were RMB0.13. The Board recommended payment of an Interim dividend of HKD$0.073 per share, equivalent to a dividend payout ratio of 50%. As at the end of the Reporting Period, the Company's net cash flow from operating activities climbed by 209.1% against the same period last year to approximately RMB51 million, reflective of the healthy operation and ample cash flow of the Company.

Insisted on intensively cultivating business in different regions with focus on higher-tier cities
As at 30 June 2023, the Group had 205 projects under management involving GFA of 29.08 million sq.m., up by 31.6% against the corresponding period of 2022. It secured 245 property management projects with contracted GFA of 37.93 million sq.m, 22.5% more year-on-year. In particular, the steady development of New Hope Wuxin Industrial provided solid support for the Company's growth in scale. During the Reporting Period, New Hope Wuxin Industrial delivered 22 projects in 11 cities across the country, involving 16,641 units in all, of which more than 4,000 were delivered earlier than scheduled.

In addition, the Company stepped up cultivating business in Southwestern China and Eastern China, enabling it to grow its revenue and in scale. Operating revenue from the two regions increased year-on-year by 17.5% and 21.5%, respectively. Total revenue from the two regions accounted for 84.7% of the Company's total revenue. As for GFA under management in Southwestern China and Eastern China, it has been increased to 15.986 million sq.m. and 9.278 million sq.m., respectively, were added. It is clear that the Company has obvious advantage in terms of regional cultivation, plus with the model helpful for reducing management costs, it has been able to improve operational efficiency. In addition, of 91.5% of the Company's property management projects in first-tier, new first-tier and second-tier cities in China, and accounting for 95.9% of revenue from property management, which further verified the Company's strategy of cultivation in high-tier cities.

Strengthened market expansion capabilities and strategic cooperation
In the Reporting Period, the Company continued its expansion strategy with "quality" and "scale" as emphases and via such channels as bidding, establishing joint ventures and strategic partnership. Regarding strategic cooperation, the Company established cooperative relationship with state-owned platforms such as Chengdu Economic and Technological Development Zone Yuanqu Investment , Wuhou SDIC, Chengdu Renju Commercial Management, and set up two joint ventures under strategic cooperation framework and signed 15 project agreements in the first half year.

At the same time, the Company's ability to expand its external market was proven. Of the newly obtained area under management, more than 4.166 million sq.m. were from independent third parties, accounting for approximately 59.7% of the total. Of the new contracted area, more than 6.275 million sq.m. were from independent third parties, making up approximately 90.0% of the total. The new projects secured including high-end residential projects such as Wuxi Jiazhou Garden and Chengdu Lingyu, medical property projects such as Wenzhou Ruian Fifth People's Hospital and Kunming Orthopedic Hospital, as well as the Chengdu C8 Digital Economic Industrial Park, Chengdu Chabaidao Industrial Park, Chengdu Zhongbao BMW 4S Store and Nanning Vipshop Logistics Park, have opened a new chapter for the Company's specialized industrial park service.

Expanded Commercial Light Asset Operation Stable Growth of Life service
In the first half year, adhering to the strategic direction of bolstering and maintaining asset value, the Group stepped up efforts to enhance business with existing customers. During the Reporting Period, the Company landed new commercial operation projects, three more than in the corresponding period last year, including such as Mingyu Financial Plaza and Mingyu Building, and the revenue and gross profit from commercial operation services increased by 26.9% and 25.2%, respectively against the same period last year. The combined occupancy rate and rent per unit also increased.

At the same time, on the back of the strong industrial chain resources of New Hope Group, a Fortune Global 500 company, plus its own customer access attributes, New Hope Service has been able to, link up with various of New Hope Group's business segments, giving it an all-round life service system that covers "Property management + Group meal, Property management + Retail, Property management + Group purchasing". The company maintained a relatively high project renewal rate, building on its efforts to continuously improve customer satisfaction. Its lifestyle service segment achieved first-half revenue of RMB135.2 million, representing a 17.3% increase year-on-year. In particular, Group meal and retail businesses brought in revenue totaling RMB50.94 million, up by 19.0% against the same period last year.

Priding stable growth, industry-leading and comprehensive capability and brand influence, the Company placed 22nd among the "2023 China Property Management List of China Listed Companies " ranking published by EH Consulting and 25th among China Index Academy's "TOP 100 Property Management Companies in China", and also for the first time obtained "EH Consulting Property Management ESG A Rating".

Looking forward, New Hope Service will continue to follow the strategy of "For Better People's Livelihood, New Hope Service Start from Hustle and Bustle of Chengdu" and deploy intensively in first-tier, new first-tier and second-tier cities with industrial support and people inflow, with the aim of fortifying its advantages in regional cultivation and brand influence. The Company will continue to push to expand through bidding, joint ventures and strategic partnerships, strengthen more in-depth connection with New Hope Group's industrial chain, so as to offer integrated lifestyle service solutions that can create value for customers in the aspects of "asset appreciation and preservation" and "peace of mind for better living life", as well as bring greater longer-term returns to shareholders.

New Hope Service Holdings Limited (stock code: 3658.HK)
New Hope Service Holdings Limited, as a livelihood service operator providing integrated property management, is deeply engaged in China's metropolitan areas and city clusters, and is the representative of Chengdu property management enterprises and a leading enterprise in the western property services market. Backed by New Hope Group, a Fortune 500 company, New Hope Service has unique branding advantages and supply chain advantages in the livelihood industry. With "asset appreciation and preservation" and "peace of mind for better living life" at its core, New Hope Service provides logistics management services, lifestyle services and commercial operation services to various properties, and has achieved sustained, high-quality growth. It was ranked 22nd in the "2023 China Property Management List of China Listed Companies" by EH Consulting and 25th in the "2023 TOP 100 Property Management Companies in China" by China Index Academy, and was also awarded the " EH Consulting Property Management ESG A Rating" for the first time by EH Consulting.

Press Contacts
Strategic Financial Relations Limited
Yan Li / Grace Liu
Tel: (852) 2114 4320 / (852) 2864 4170
Email: yan.li@sprg.com.hk / grace.liu@sprg.com.hk
Website: www.sprg.com.hk



Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com