About THING ON ENT Company

We are engaged in property investment business in Hong Kong, focusing mainly on office, retail and industrial property leasing and property management businesses. Our investment property portfolio includes Grade A office buildings in core commercial areas, retail stores in prime urban locations, and industrial plants in developed urban areas. As of the last practical date, we have an investment property portfolio of 36 properties with a total usable area of approximately 92,136 square feet, while the total value assessed by property valuers on April 30, 2017 was approximately HK$1,613.5 million. We rent out investment properties to earn recurring rental income. We also provide relevant value-added property management services to tenants. We have a dedicated property department that uses our own operating system to manage the leasing business. For the years ending December 31, 2014 and December 31, 2016, the Group recorded rental income of approximately HK$33.1 million, HK$33.6 million and HK$37.1 million respectively, of which approximately 72.3%, 69.3% and 63.4% came from office property rents, while approximately 13.2%, 16.4% and 18.4% came from the rent of retail properties, respectively, and approximately 14.5%, 14.3% and 18.2% respectively came from rent from industrial properties. Rental income accounted for approximately 90.1%, 89.6% and 89.8% of our total revenue for the years ending December 31, 2014 and December 31, 2016. Starting in January 2016, we have expanded the service coverage of property management services to other property owners belonging to independent third parties. The property department is responsible for the operation of the property management business. Our services include identifying tenants, advising clients on property management policies, formulating, preparing and implementing management strategies for clients, and monitoring rent collection. For the years ending December 31, 2014 and December 31, 2016, the Group recorded property management fee revenue of approximately HK$3.6 million, HK$3.9 million and HK$4.2 million respectively. For the years ending 2014, 2015 and December 31, 2016, property management fee revenue accounted for about 9.9%, 10.4% and 10.2% of the Group's total revenue, respectively.