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Public company info - Clifford Modern Living Holdings Limited , 03686.HK
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Clifford Modern Living Holdings Limited, 03686.HK - Company Profile
Chairman MAN Lai Hung
Share Issued (share) 1,015,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Property Management & Agency
Corporate Profile Business Summary: The Company is primarily engaged in the provision of services to residents in properties developed under the brand name of Clifford, including retail services, catering services, property management services, laundry services, off-campus training services, property agency services, employment placement services, information technology services, renovation and fittingout services, etc, in the mainland of People’s Republic of China. Performance for the year: For the year ended 31 December 2019, the Group achieved revenue of approximately RMB396.6 million, representing a year-on-year increase of 16.1%. The group’s profit during the year under review increased to approximately RMB95.8 million, representing a year-on-year increase of approximately RMB23.1 million or 31.8%. Gross profit increased from approximately RMB166.2 million for the year ended 31 December 2018 to approximately RMB176.2 million for the year ended 31 December 2019, representing an increase of approximately RMB10.0 million or approximately 6.0%. Meanwhile. Business Review: The Group is a service provider with a diversified service portfolio comprising six main service segments: property management services, renovation and fitting-out services, retail services, off-campus training services, information technology services and Ancillary Living Services (as hereinafter defined). 1. Property Management Services The Group provided property management services to 15 residential communities and 7 pure commercial properties or projects with an aggregate contracted GFA of approximately 9,664,000 sq.m. as at 31 December 2019 (as at 31 December 2018: 9,620,000 sq.m.). 2. Renovation and Fitting-out Services The Group provides renovation and fitting-out services principally for residents, tenants or owners or their principal contractors in their residential units, offices, shops and other properties. For efficient management, The group outsource the provision of certain renovation and fitting-out services to third-party sub-contractors. The group constantly monitor and evaluate third-party sub-contractors on their ability to meet The group’s requirements and standards to ensure the overall quality of The group’s work. 3. Retail Services The Group operated 15 retail outlets (two supermarkets, one wet market and 12 convenience stores) of different sizes covering a total GFA of approximately 10,725 sq.m. as at 31 December 2019 (as at 31 December 2018: 15 retail outlets covering a total GFA of approximately 12,000 sq.m.). 4. Off-campus Training Services The Group had three learning centres in Panyu district as at 31 December 2019 (as at 31 December 2018: two learning centres). A new learning centre was set up in March 2019 to fulfill customers’ demands in training programmes and interest classes. Training programmes mainly include tutoring courses and language learning classes. 5. Information Technology Services Engineering services The Group provides information technology services, related engineering services, security systems services and hardware and software integration services, most of which are delivered on project basis. Telecommunication services The Group established a telecommunication sales outlet in August 2017 in Panyu district, and entered into contracts with major telecommunication service providers under which the Group acts as agent for their products and services. 6. Ancillary Living Services Catering services After cessation of the operation of all its catering outlets and franchising businesses in December 2018, the Group continues to provide catering consultancy services and receive a fixed consultancy services fee on a monthly basis. Property agency services The property agency industry is tied to the property market. Although more stringent regulations have been introduced by the government of the PRC Mainland, the Group believes that demand for property agency services will still increase in the long term. Employment placement services The Group constantly monitors the performance and services quality of relevant household helpers and dispatched workers. Laundry services The Group maintains both safety and quality services by providing continuous training to its staff. Prospects: Property Management Further increase the total contracted GFA and the number of residential and pure commercial units The group manage We plan to further expand The group’s business and increase The group’s market share in the industry by expanding the total contracted GFA and the number of residential communities and pure commercial properties The group manage. We believe that by enlarging the total contracted GFA and the number of residential communities The group manage, The group will be able to increase The group’s revenue from The group’s property management services. In addition, The group expect that a growing number of residents and property owners will use The group’s retail services and Ancillary Living Services. Further expand The group’s property management network through engagements in integrated projects We plan to expand The group’s business by managing integrated projects which include apartments, shopping malls and office buildings developed by third parties in Guangdong Province. The services The group will be providing include property management services, property agency services and marketing consultancy services. Accelerate The group’s business growth through acquisitions of property management companies We intend to accelerate the growth of The group’s property management business by acquiring suitable property management companies to help us to achieve The group’s business strategies of standardisation and centralisation. Retail Further expand The group’s retail network To cope with The group’s expansion strategy of The group’s retail services, two convenience stores and one supermarket with total area of approximately 2,303 sq.m. were opened in the first quarter of 2020. The group will continue to identify suitable locations for further expansion. Information technology Further develop The group’s information technology services As more and more emphasis is being placed on the development of smart cities and communities in the PRC Mainland, The group see an enormous potential in the information technology market. The group plan to further increase The group’s investment in information technology services, with the goal to increase The group’s market share and boost the growth of The group’s overall business. Off-campus training Further expand The group’s off-campus training services We plan to increase the variety of interest classes provided by the Group in order to further expand The group’s business. Develop online marketing and build online distribution channels We intend to promote various services by reaching The group’s customers through different online channels including websites and apps on smartphones. Currently, The group are upgrading The group’s sales and accounting systems so as to further enhance The group’s data collection process, which in turn enables us to respond more quickly to The group’s customers’ needs. Further explore new investment opportunities Facing the challenges of possible slowdown of the economic growth of the PRC Mainland, The group will remain prudent in monitoring the Group’s expenditures, look for new investment opportunities to cope with existing market environment and constantly review The group’s business strategies.

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