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Announcement of Annual Results for the Year Ended 31 December 2020

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Announcement of Annual Results for the Year Ended 31 December 2020 Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. COLOUR LIFE SERVICES GROUP CO., LIMITED 彩生活服務集團有限公(Incorporated in the Cayman Islands with limited liability司) (Stock Code: 1778) ANNOUNCEMENT OF ANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2020 HIGHLIGHTS – For the year of 2020, the Group recorded total revenue of approximately RMB3,596 million, gross profit of approximately RMB1,208 million, net profit of approximately RMB542 million and the net profit attributable to the owners of the Company of approximately RMB502 million. – For the year ended 31 December 2020, the net cash flows generated from operating activities increased by 51.6% to RMB826 million. – Net profit margin increased by 1.2 percentage points to approximately 15.1% from approximately 13.9% for the same period in 2019. – The Board proposed the payment of a final dividend of RMB8.73 cents per share, representing about 25% dividend payout ratio, for the year ended 31 December 2020. Shareholders have the option of receiving their dividends in the form of new shares instead of cash. 1 The board (the “Board”) of directors (the “Directors”) of Colour Life Services Group Co., Limited (the “Company” or “Colour Life”) announces the 彩生活服務集團有限公司 audited financial results of the Company and its subsidiaries (the “Group”) for the year ended 31 December 2020 as follows: CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2020 2020 2019 NOTES RMB’000 RMB’000 Revenue from services 3 & 4 3,596,450 3,845,003 Cost of services (2,388,688) (2,489,567) Gross profit 1,207,762 1,355,436 Other income 5 69,744 48,690 Other gains and losses 5 81,165 (19,189) Impairment losses under expected credit loss model, net of reversal 6 (89,309) (86,679) Selling and distribution expenses (16,944) (62,884) Administrative expenses (421,843) (413,293) Expenses recharged to residential communities under commission basis 78,072 81,033 Finance costs 7 (210,387) (201,711) Change in fair value of investment properties (2,461) 1,006 Share of results of associates 3,937 3,938 Share of results of joint ventures 996 9,900 Profit before tax 700,732 716,247 Income tax expense 8 (158,677) (180,556) Profit for the year 9 542,055 535,691 2 2020 2019 NOTES RMB’000 RMB’000 Other comprehensive income (expense) Items that will not be reclassified subsequently to profit or loss: Change in fair value of equity instruments designated at fair value through other comprehensive income (“FVTOCI”) 1,793 (1,772) Deferred taxation effect on change in fair value of equity instruments designated at FVTOCI (448) 443 Other comprehensive income (expense) for the year, net of income tax 1,345 (1,329) Total comprehensive income for the year 543,400 534,362 Profit for the year attributable to: Owners of the Company 501,721 498,570 Non-controlling interests 40,334 37,121 542,055 535,691 Total comprehensive income for the year attributable to: Owners of the Company 503,066 497,241 Non-controlling interests 40,334 37,121 543,400 534,362 Earnings per share – basic (RMB cents) 11 34.90 36.48 Earnings per share – diluted (RMB cents) 11 34.90 36.48 3 CONSOLIDATED STATEMENT OF FINANCIAL POSITION AT 31 DECEMBER 2020 2020 2019 NOTES RMB’000 RMB’000 Non-current Assets Property, plant and equipment 181,905 202,735 Right-of-use assets 95,204 85,161 Investment properties 147,351 155,040 Interests in associates 61,046 55,557 Interests in joint ventures 103,862 100,224 Equity instruments designated at FVTOCI 115,168 121,735 Goodwill 2,317,252 2,317,252 Intangible assets 953,461 1,091,235 Contract assets 14,572 22,229 Other receivables 4,986 5,900 Loan receivables 1,761 7,858 Pledged bank deposits – 90,500 Deferred tax assets 85,932 61,806 Amount due from a related party 68,889 72,899 Deposits paid for potential acquisition of subsidiaries 10,653 9,868 4,162,042 4,399,999 Current Assets Inventories – 3,700 Contract assets 48,986 45,464 Trade receivables 12 546,989 658,244 Other receivables and prepayments 751,151 745,853 Loan receivables 224,188 201,616 Payments on behalf of residents 1,050,618 908,465 Amounts due from related parties 899,766 564,228 Financial assets at fair value through profit or loss (“FVTPL”) – 3,000 Pledged/restricted bank deposits 154,118 124,146 Bank balances and cash 2,458,579 1,721,228 6,134,395 4,975,944 4 2020 2019 NOTES RMB’000 RMB’000 Current Liabilities Trade payables 13 405,567 401,176 Other payables and accruals 804,521 886,679 Contract liabilities 516,500 350,215 Receipts on behalf of residents 362,189 403,862 Lease liabilities due within one year 7,898 2,300 Amounts due to related parties 604,003 453,547 Tax liabilities 239,896 229,949 Borrowings due within one year 436,181 752,576 Senior notes and bonds 1,552,688 149,786 Asset-backed securities issued due within one year 20,206 87,483 4,949,649 3,717,573 Net Current Assets 1,184,746 1,258,371 Total Assets Less Current Liabilities 5,346,788 5,658,370 Non-current Liabilities Deferred tax liabilities 252,937 290,136 Amount due to a related party – 126 Lease liabilities due after one year 18,929 11,343 Borrowings due after one year 520,500 1,287,704 Asset-backed securities issued due after one year – 17,065 792,366 1,606,374 Net Assets 4,554,422 4,051,996 Capital and Reserves Share capital 118,036 115,134 Reserves 4,231,605 3,755,045 Equity attributable to owners of the Company 4,349,641 3,870,179 Non-controlling interests 204,781 181,817 Total Equity 4,554,422 4,051,996 5 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 1. GENERAL Colour Life Services Group Co., Limited (the “Company”) is a limited liability company incorporated in Cayman Islands and its shares are listed on the main board of The Stock Exchange of Hong Kong Limited (the “SEHK”). Its immediate holding company is Fantasia Holdings Group Co., Limited (“Fantasia Holdings”), a company which was incorporated as an exempted company with limited liability in the Cayman Islands and its shares are listed on the Main Board of the SEHK. Its ultimate holding company is Ice Apex Limited, a limited liability company incorporated in the British Virgin Islands (the “BVI”). Its ultimate controlling party is Ms. Zeng Jie, Baby. The addresses of the registered office and principal place of the Company are disclosed in the corporate information section to the annual report. The Company acts as an investment holding company. The consolidated financial statements is presented in Renminbi (“RMB”), which is the same as the functional currency of the Company and the major subsidiaries. 2. APPLICATION OF NEW AND AMENDMENTS TO HONG KONG FINANCIAL REPORTING STANDARDS (“HKFRSs”) New and amendments to HKFRSs that are mandatorily effective for the current year In the current year, the Group has applied the Amendments to References to the Conceptual Framework in HKFRS Standards and the following amendments to HKFRSs issued by the Hong Kong Institute of Certified Public Accountants (“HKICPA”) for the first time, which are mandatorily effective for the annual period beginning on or after 1 January 2020 for the preparation of the consolidated financial statements: Amendments to HKAS 1 Definition of Material and HKAS 8 Amendments to HKFRS 3 Definition of a Business Amendments to HKFRS 9, Interest Rate Benchmark Reform HKAS 39 and HKFRS 7 The application of the Amendments to References to the Conceptual Framework in HKFRS Standards and the amendments to HKFRSs in the current year had no material impact on the Group’s financial positions and performance for the current and prior years and/or on the disclosures set out in these consolidated financial statements. 6 New and amendments to HKFRSs in issue but not yet effective The Group has not early applied the following new and amendments to HKFRSs that have been issued but are not yet effective: HKFRS 17 Insurance Contracts and the related Amendments1 Amendment to HKFRS 16 Covid-19-Related Rent Concessions4 Amendments to HKFRS 3 Reference to the Conceptual Framework2 Amendments to HKFRS 9, Interest Rate Benchmark Reform – Phase 25 HKAS 39, HKFRS 7, HKFRS 4 and HKFRS 16 Amendments to HKFRS 10 Sale or Contribution of Assets between an Investor and its and HKAS 28 Associate or Joint Venture3 Amendments to HKAS 1 Classification of Liabilities as Current or Non-current and related amendments to Hong Kong Interpretation 5 (2020)1 Amendments to HKAS 16 Property, Plant and Equipment – Proceeds before Intended Use2 Amendments to HKAS 37 Onerous Contracts – Cost of Fulfilling a Contract2 Amendments to HKFRSs Annual Improvements to HKFRSs 2018-20202 1 Effective for annual periods beginning on or after 1 January 2023. 2 Effective for annual periods beginning on or after 1 January 2022. 3 Effective for annual periods beginning on or after a date to be determined. 4 Effective for annual periods beginning on or after 1 June 2020. 5 Effective for annual periods beginning on or after 1 January 2021.
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