About THING ON ENT Company

We are engaged in property investment business in Hong Kong, mainly focusing on office, retail and industrial property leasing and property management business. Our investment property portfolio covers Grade A office buildings in core commercial districts, retail stores in prime urban locations, and industrial plants in developed urban areas. At the last practical date, we had an investment portfolio of 36 properties with a total saleable area of approximately 92,136 square feet, and the total value as assessed by property valuers as at April 30, 2017 was approximately HK$1613.5 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 and use our own operating system to manage the rental business. For the years ended December 31, 2014, 2015 and 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% were office rents, while approximately 13.2%, 16.4% and 18.4%, respectively, came from rent from retail properties, and approximately 14.5%, 14.3% and 18.2%, respectively, from industrial properties. For the years ended December 31, 2014, 2015 and 2016, rental income accounted for approximately 90.1%, 89.6% and 89.8% of our total revenue. Since January 2016, we have extended our 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 finding tenants, advising clients on property management policies, formulating, preparing and implementing management strategies for clients, and monitoring rental receipts. For the years ended December 31, 2014, 2015 and 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 ended December 31, 2014, 2015 and 2016, property management fee revenue accounted for approximately 9.9%, 10.4% and 10.2% of the Group's total revenue, respectively.