Core Viewpoint - Jinke Property Service Development Co., Ltd. announced the acquisition of 100% equity in Jinke Green Building Technology (Chongqing) Co., Ltd., enhancing its energy operation and maintenance services in the context of the "dual carbon" goals [1][2]. Group 1: Acquisition Details - The acquisition will integrate property services with energy operation and maintenance, improving operational efficiency and customer experience [2][3]. - Jinke Green Building Technology specializes in energy operation and maintenance for technology residential projects, which is crucial for ensuring user experience and asset value [1][3]. Group 2: Strategic Importance - This acquisition marks a deepening of strategic collaboration between Jinke Property and China Jinke, aligning with the company's five-year high-quality development goals [2][4]. - The energy operation business will serve as a "green" label, enhancing competitiveness in the technology residential sector and supporting long-term growth [2][3]. Group 3: Market Position and Growth - Jinke Property aims to expand its service coverage and enhance customer loyalty through resource integration, targeting a revenue of 2.966 billion yuan in 2024, a 9.7% increase year-on-year [3]. - The company has already conducted joint pilot projects in technology application and smart energy management, laying a foundation for deeper integration [3][4]. Group 4: Future Outlook - The acquisition is seen as a proactive response to the transformation of the property management industry in the "dual carbon" era, aiming to redefine the value core of property management [4]. - Jinke Property is exploring innovative practices in smart energy management and zero-carbon communities, enhancing its market competitiveness in high-end commercial and industrial sectors [4].

Financial Performance - The company's revenue for 2024 reached RMB 2,965,973 thousand, representing a 9.7% increase from RMB 2,704,412 thousand in 2023[30] - Gross profit decreased by 5.4% to RMB 706,407 thousand, with a gross margin of 23.8%, down from 27.6% in the previous year[30] - Net profit for the year increased by 12.0% to RMB 384,048 thousand, resulting in a net profit margin of 12.9%[30] - Total revenue for property management services was RMB 2,058.57 million, an increase from RMB 1,574.89 million in the previous year[56] - Revenue from residential properties amounted to RMB 1,432.85 million, accounting for 69.6% of total revenue, while non-residential properties generated RMB 625.72 million, making up 30.4%[56] - Revenue from non-owner value-added services decreased by approximately 35.7% year-on-year to about RMB 324.7 million, accounting for 10.9% of total revenue[65] - Community value-added services revenue decreased by approximately 6.7% year-on-year to about RMB 582.7 million, accounting for 19.7% of total revenue[67] - The total revenue for the group increased by 9.7% from RMB 2,704.4 million in 2023 to RMB 2,965.9 million in 2024[73] Assets and Liabilities - Total assets grew by 19.8% to RMB 4,330,460 thousand, while total equity increased by 12.4% to RMB 1,761,792 thousand[31] - Cash resources increased by 11.9% to RMB 1,403,692 thousand, indicating improved liquidity[31] - Trade receivables from third parties increased from approximately RMB 566.9 million as of December 31, 2023, to approximately RMB 821.7 million as of December 31, 2024, primarily due to business expansion and increased managed building area[91] - The impairment provision for trade receivables increased from approximately RMB 28.0 million as of December 31, 2023, to approximately RMB 66.1 million as of December 31, 2024, an increase of about RMB 38.1 million[91] - Total prepaid expenses, other receivables, and other assets increased from approximately RMB 821.4 million as of December 31, 2023, to approximately RMB 992.9 million as of December 31, 2024, mainly due to increased prepaid energy costs and rental payments[92] - Trade payables and notes payable rose from approximately RMB 597.3 million as of December 31, 2023, to approximately RMB 678.1 million as of December 31, 2024, driven by business expansion and increased procurement of services[93] Operational Expansion - The company signed a 100% equity acquisition agreement for Runwu Jiaye, expanding its business scope[17] - The company managed a total contracted area of approximately 134.3 million square meters across 595 properties in 71 cities[12] - Over 95% of new contracts signed in 2024 were located in first and second-tier cities, with over 60% in first-tier cities[46] - The managed building area was approximately 100.9 million square meters, reflecting a growth of about 19.8% year-over-year[56] - The company has established partnerships with governments in 10 cities, providing urban operation services over an area of approximately 117.1 square kilometers[60] - The company aims to continue expanding its managed scale and enhancing local urban density through strategic market penetration[58] Strategic Initiatives - The company plans to enhance its community value-added services, including real estate brokerage and community life services[12] - The company aims to maintain its industry-leading position by focusing on service quality, differentiated service products, and effective corporate governance[49] - The company plans to continue its "1245" strategy to navigate economic fluctuations and enhance service capabilities[49] - The company has implemented 9 major digital core strategic projects to enhance operational efficiency and customer service responsiveness[47] - The company is actively expanding its client base, successfully signing contracts with major clients such as CapitaLand and Yili Group[46] Human Resources and Talent Development - Employee costs totaled approximately RMB 550 million for the year ended December 31, 2024, compared to RMB 530 million in 2023, reflecting a year-on-year increase[105] - The company employed 2,670 full-time employees as of December 31, 2024, up from 2,098 full-time employees as of December 31, 2023[104] - The company has implemented a differentiated incentive plan based on employee performance and contribution, aiming to stimulate employee engagement[105] - The company is committed to continuous talent pipeline development, ensuring stable talent supply and supporting rapid employee growth[106] - The company has established a comprehensive training system to enhance employee capabilities across various business areas and development stages[105] Corporate Governance - The board consists of eight members, including three executive directors, two non-executive directors, and three independent non-executive directors, with a diverse age range from 38 to 71 years[148] - The company has achieved its gender diversity target on the board, with two female directors and six male directors, and continues to promote gender diversity at all levels[149] - The board has established a mechanism to ensure independent opinions and information are available to all directors, with the company covering the costs of independent professional advice when needed[154] - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange's listing rules, focusing on effective internal controls and transparency to enhance shareholder confidence[141] - The board is responsible for the overall strategy, internal controls, and risk management systems of the group, ensuring effective financial management and operational oversight[145] Sustainability and ESG - In 2024, the company received 5 awards in the ESG field, highlighting its commitment to sustainable development[39] - The management team emphasized the importance of sustainability initiatives, aiming for a 30% reduction in carbon footprint by 2026[140] - ESG management is a key component of the company's long-term strategy, focusing on sustainable value creation for customers, shareholders, and society[71] - The Strategic and ESG Committee is responsible for formulating the company's development strategy and regularly reviewing its ESG vision, goals, strategies, and policies[180] Future Outlook - The company provided guidance for the next fiscal year, projecting a revenue growth of 10% to 12%[140] - New product launches are expected to contribute an additional HKD 200 million in revenue, with a focus on enhancing user experience[140] - The company is expanding its market presence in Southeast Asia, targeting a 25% market share in the region by 2025[140] - A strategic acquisition of a local competitor is anticipated to enhance operational efficiency and increase market penetration[140]

大家早上好,欢迎参加民生证券经贸服务2024年夜期会后交流,然后今天我们也是非常荣幸请到了经贸服务的CFO赵总,然后投资者关系负责人海玲总和IR团队,然后跟我们分享一下这个公司目前的一个最新情况,然后上面要不我们先请公司讲讲这个2024年夜期的情况,然后我们再进入问答环节。 好的感谢各位投资者和分析师的参与现在首先由我们的工作同事给介绍一下去年24年经贸服务的业绩情况 各位投资人以及名声正确的各位老师大家上午好我们因为也是刚刚发了这个24年的成年业绩嘛然后想跟大家更新一下公司的这个业绩情况然后随后QA的话我们的这个赵总和这个凯琳总会跟大家做一个深入的交流那我们公司的话24年业绩其实还是比较出现这个平稳增长的趋势的那公司的领导在开会的时候也提出了三个业绩亮点就是说这个新业绩是稳定增长规模上我们强调的是聚焦生根康石基础 那在这个管理上其实是经济管理结构优化那针对这三个一些亮点我们也会进一步跟大家去做一个分享首先在一级增长上我们24年收入29.7亿元同比增长9.7%那尤其是其中基础物管业务其实是收入端增长了30.7%保持了一个比较高速的增长那在盈利侧公司的24年经济利润3.84亿元同比增长12%保持了双位数的经济利 ...

Financial Reporting - Jinmao Property Services reported financial data for the fiscal years ending December 31, 2023, and December 31, 2024[3]. - The company has submitted its statutory annual consolidated financial statements for the year ending December 31, 2023, to the Companies Registry[3]. - The company will timely submit the statutory annual consolidated financial statements for the year ending December 31, 2024[3]. Auditor's Report - The auditor's report for both fiscal years was unqualified, with no emphasis of matter or statements made under sections 406(2), 407(2) or (3) of the Companies Ordinance[3]. Supplementary Information - The announcement serves as a supplementary report to the annual performance announcement and should be read in conjunction with it[4].

Financial Performance - For the year ended December 31, 2024, the total revenue of Jinmao Property Services was approximately RMB 2,966.0 million, an increase of about RMB 261.6 million or 9.7% compared to RMB 2,704.4 million for the year ended December 31, 2023[4] - The gross profit for the year ended December 31, 2024, was approximately RMB 706.4 million, a decrease of about 5.4% from RMB 746.5 million for the year ended December 31, 2023[4] - The profit for the year ended December 31, 2024, was approximately RMB 384.0 million, an increase of about 12.0% compared to RMB 342.9 million for the year ended December 31, 2023[4] - The basic and diluted earnings per share attributable to ordinary equity holders of the parent for the year ended December 31, 2024, was RMB 0.41, up from RMB 0.37 for the year ended December 31, 2023[4] - The total comprehensive income for the year ended December 31, 2024, was RMB 377.5 million, compared to RMB 340.9 million for the year ended December 31, 2023[7] - Total revenue for 2024 reached RMB 2,965,973,000, an increase of 9.6% from RMB 2,704,412,000 in 2023[20] - Customer contract revenue grew to RMB 2,935,342,000, up 9.1% from RMB 2,690,744,000 in the previous year[20] - Property management services revenue increased significantly to RMB 2,058,567,000, a rise of 30.6% compared to RMB 1,574,891,000 in 2023[20] - Other income and gains totaled RMB 65,078,000, compared to RMB 30,032,000 in 2023, marking a 116.5% increase[20] - The pre-tax profit for 2024 was RMB 372,456,000, up from RMB 337,315,000 in 2023, reflecting a growth of 10.4%[26] Assets and Liabilities - The total non-current assets as of December 31, 2024, amounted to RMB 941.7 million, an increase from RMB 615.6 million as of December 31, 2023[10] - The total current assets as of December 31, 2024, were RMB 3,388.7 million, compared to RMB 2,998.2 million as of December 31, 2023[9] - The net asset value attributable to equity holders of the parent as of December 31, 2024, was RMB 1,704.8 million, up from RMB 1,541.8 million as of December 31, 2023[10] - Trade receivables amounted to RMB 1,048,773,000, an increase from RMB 928,279,000 in 2023, with a net value of RMB 982,682,000 after provisions[27] - Trade receivables from third parties increased from approximately RMB 566.9 million as of December 31, 2023, to approximately RMB 821.7 million as of December 31, 2024, mainly due to business expansion and increased managed building area[53] - Trade payables and notes payable increased from approximately RMB 597.3 million as of December 31, 2023, to approximately RMB 678.1 million as of December 31, 2024, primarily due to business expansion leading to increased procurement of services and maintenance[57] - As of December 31, 2024, the company's other payables and accrued expenses amounted to approximately RMB 926.7 million, an increase from approximately RMB 756.5 million as of December 31, 2023, representing a growth of about 22.5%[58] - The company's cash and cash equivalents as of December 31, 2024, were approximately RMB 1,399.5 million, up from RMB 1,252.0 million as of December 31, 2023, indicating an increase of about 11.8%[63] - The current ratio as of December 31, 2024, was approximately 1.43, a decrease from 1.57 as of December 31, 2023[64] - The company had no outstanding borrowings as of December 31, 2024, consistent with the previous year[63] Dividends - The board proposed a final dividend of HKD 0.096 per share for the year ended December 31, 2024[4] - The company plans to distribute a mid-term dividend of HKD 0.084 per share, totaling RMB 69,136,000, and a proposed final dividend of HKD 0.096 per share, totaling RMB 80,144,000[24] - The board proposed a final dividend of HKD 0.096 per share for the year ending December 31, 2024, subject to shareholder approval at the 2024 annual general meeting[69] Operational Highlights - The total contracted construction area as of December 31, 2024, was approximately 134.3 million square meters, and the managed construction area was approximately 100.9 million square meters, representing increases of about 26.2% and 19.8%, respectively, compared to December 31, 2023[4] - The company is recognized as a leading provider in the high-end property management sector in China, ranking among the top 15 in various industry assessments[28] - Property management service revenue increased by approximately 30.7% from RMB 1,574.891 million in 2023 to RMB 2,058.567 million in 2024, driven by an increase in managed building area from approximately 84.2 million square meters to 100.9 million square meters[37] - Non-owner value-added service revenue decreased by approximately 35.7% from RMB 504.636 million in 2023 to RMB 324.670 million in 2024, primarily due to a reduction in the number of new business projects acquired[37] - Community value-added service revenue declined by approximately 6.7% from RMB 624.885 million in 2023 to RMB 582.736 million in 2024, influenced by renovation commencement rates and consumer spending power[37] Cost Management - Sales costs increased by approximately 15.4% from RMB 1,957.9 million in 2023 to RMB 2,259.6 million in 2024, aligning with revenue growth trends[38] - Gross profit decreased by approximately 5.4% from RMB 746.542 million in 2023 to RMB 706.407 million in 2024, with a gross margin decline from 27.6% to 23.8%[39] - The gross margin for property management services was approximately 15.1% in 2024, down from 15.8% in 2023, due to increased investments in quality improvement[40] - Selling and distribution expenses decreased by approximately 37.8% from approximately RMB 56.1 million for the year ended December 31, 2023, to approximately RMB 34.9 million for the year ending December 31, 2024, mainly due to a reduction in labor costs and advertising expenses[43] - Administrative expenses decreased by approximately 26.8% from approximately RMB 253.4 million for the year ended December 31, 2023, to approximately RMB 185.4 million for the year ending December 31, 2024, primarily due to organizational optimization and improved efficiency[44] - Financing costs increased by approximately 151.1% from approximately RMB 4.5 million for the year ended December 31, 2023, to approximately RMB 11.3 million for the year ended December 31, 2024, mainly due to an increase in lease liabilities[45] Strategic Initiatives - The company plans to focus on high-tier cities and enhance service quality, operational efficiency, and marketing capabilities as part of its 2025 strategic goals[32] - The company aims to implement a "1245" strategy to prioritize customer needs and drive product and service upgrades for high-quality development[32] - ESG management is a key long-term strategy for the company, emphasizing sustainable value creation for stakeholders[34] - The company plans to upgrade its smart management service system and develop smart community and city solutions, with an allocation of approximately HKD 72.0 million, representing 9.2% of the net proceeds[67] Employee and Governance - As of December 31, 2024, the group had 2,670 full-time employees, an increase from 2,098 employees as of December 31, 2023, with a female employee ratio of 37.0%[75] - Total employee costs for the year were approximately RMB 550 million, compared to RMB 530 million in 2023[75] - The board confirmed compliance with the corporate governance code throughout the year ending December 31, 2024[85] - The company has adopted the "Standard Code" for securities trading by directors as per Appendix C3 of the Listing Rules[86] - All directors have confirmed compliance with the Standard Code for the fiscal year ending December 31, 2024[86] Acquisitions - The company completed the acquisition of Runwu Jiaye for a total cash consideration of RMB 323.8 million on January 18, 2024, enhancing its property management capabilities[80] - The acquired company primarily operates in property management and hotel operations, aligning with the group's strategic positioning in high-end projects[81] - The acquisition is expected to strengthen the company's non-cyclical business, with a high proportion of revenue from property management services[81] - The company has not made any other significant investments or acquisitions as of the announcement date[83]

Think Far 以恒心 Grow Further 2024 中期報告 INTERIM REPORT (Incorporated in Hong Kong with limited liability) (在香港註冊成立之有限公司) Stock Code 股份代號: 00816 2024 中期報告 Interim Report ianaly would mps and in the minute with and the may be and the seems of the seems of the seems of the and summission in mmmmm o (o) (o) x 目 錄 | --- | --- | --- | --- | --- | --- | --- | |--------------------------|-------|-------|-------|-------|-------|-------| | | | | | | | | | 公司概覽 | | | | | | 2 | | 公司資料 | | | | | | 3 | | 財務摘要 | | | | | | 4 ...

Investment Rating - The report upgrades the investment rating of the company from Hold to Buy, with a target price set at HKD 4.91, reflecting a 10x P/E ratio for 2024 [2][3][4]. Core Insights - The company achieved a net profit growth of 18.9% year-on-year in the first half of 2024, supported by effective cost control and a strong performance in property management services [2][6]. - The management maintains a net profit growth target of over 20% for 2024, driven by the integration of acquired companies and a lower base in the second half of the year [2][3]. - The company's independence has significantly improved, with the proportion of third-party managed saleable area increasing from 33% in 2022 to 50.5% in 2024 [3][4]. Financial Performance - For the first half of 2024, the company reported a revenue increase of 10.2% to RMB 1.5 billion, with property management (PM) revenue growing by 34.6% to RMB 1 billion [2][6]. - The gross profit margin (GPM) for basic PM improved by 1.3 percentage points to 24.6%, while the GPM for community value-added services (VAS) increased by 3.6 percentage points to 42.3% [2][6]. - The company expects to manage an additional 8 million square meters of building area from the acquisition of RUNWU JIAYE, contributing approximately 27% to the annual total [2][3]. Revenue and Profit Forecast - Revenue is projected to grow from RMB 2.7 billion in 2023 to RMB 3.1 billion in 2024, with a compound annual growth rate (CAGR) of 14.4% [5][9]. - Net profit is expected to rise from RMB 337.3 million in 2023 to RMB 399.6 million in 2024, reflecting an 18.5% increase [5][9]. - The earnings per share (EPS) is forecasted to increase from RMB 0.37 in 2023 to RMB 0.44 in 2024 [5][9]. Valuation Metrics - The company is currently trading at a P/E ratio of 5.3x for 2024, which is below the industry average, indicating potential undervaluation [5][12]. - The price-to-book (P/B) ratio is projected to decline from 1.4 in 2023 to 1.2 in 2024, suggesting a more attractive valuation [5][12]. - The dividend yield is expected to increase from 6.6% in 2023 to 7.5% in 2024, enhancing the attractiveness for income-focused investors [5][12].

4 Sep 2024 CMB International Global Markets | Equity Research | Company Update Jinmao Property Services (816 HK) | --- | --- | --- | --- | --- | |-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 JINMAO��浚服务 JINMAO PROPERTY SERVICES CO., LIMITED 金茂物業服務發展股份有限公司 （於香港註冊成立之有限公司） （股份代號：00816） 截至2024年6月30日止六個月 中期業績公告 | --- | --- | |-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | 摘要 | | | • | 截至 2024 年 6 月 30 日止六個月，本集團總收入約為人民幣 1,491.4 百萬元， 較截至 2023 年 6 月 30 日止六個月的約人民 ...

4月18日下午，金茂服务发布2023年环境、社会及管治报告，这是其发布的第三份《环境、社会及管治报告》。 报告显示，在公司治理方面，2023年累计梳理出廉洁风险点46个，累计签署廉洁承诺书300余份，中国中化《八项禁令》承诺书3,800余份。开展反腐倡廉相关培训76次，董事参与反贪污培训4位，员工参与反贪污培训4,491人次，员工参与反贪污培训总时长47356小时，组织开展针对员工及董事的廉洁提醒谈话8次。 在环境方面，2023年开展节能改造工程213项，节约能耗支出约454.14万元；开展节能知识培训9次，超过720人次参加。 在社会方面，金茂服务注重员工培训赋能。2023年员工受训总人次为12172人次，全年各类培训投入总金额118.34万元，员工培训复盖率100%，员工受训总时长33069小时，平均受训时长14.86小时。 此外，2023年向阳计划青年人才培养项目培训复盖2021-2023届「向阳生」，青年员工年度晋升率达41%。2023年向困难员工发放慰问金15000元。 在社会公益方面，2023年向甘肃省古浪县西靖感恩社区幼儿园和西靖春蕾小学捐赠进行校舍维修及购置教育教学设备配备，共计捐款15万元； ...