截至8月19日收盘，金茂服务（00816.HK）报3.410港元，较上个交易日上涨0.59%，当日盘中最高价触 及3.460港元，创近一年新高。 作者：港股君 资金流向方面，当日主力流入NaN万港元，流出NaN万港元，净流入140.19万港元。 本文源自：金融界 金茂物业服务发展股份有限公司(以下简称"金茂服务"),2022年3月在香港联交所主板上市(股票代 码:00816.HK),背靠全球500强企业中国中化控股有限责任公司旗下城市运营平台中国金茂控股集团有限 公司,是中国增长迅速的高端物业管理及城市运营服务提供商,管理多元化的物业组合,涵盖住宅物业及非 住宅服务。依托领先的品牌声誉、深广的资源优势、丰厚的服务经验以及全面的技术能力,金茂服务持 续为不同类型的客户提供品质如一、价值致远的物业管理服务、非业主增值服务以及社区增值服务。金 茂服务积极打造"品质""智慧""共生"三大核心IP。坚持以客户为中心,金茂服务以卓越的场景设计能力和 稳定的品质输出能力,提供超出客户期望的持有资产打理服务和品质生活解决方案。通过万物互联管设 备、移动互联管服务,金茂服务深入推动企业数字化转型,以科技促进服务升级,持续提升管 ...

金茂物業服務發展股份有限公司（「本公司」及其附屬公司，「本集團」）董事會 （「董事會」）茲通告謹定於2025年8月25日舉行董事會會議，以考慮及通過本集團 截至2025年6月30日止六個月之中期業績，及建議之中期股息（如有），以及處理 其他事項。 承董事會命 金茂物業服務發展股份有限公司 主席 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。 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：816） 董事會召開日期 JINMAO PROPERTY SERVICES CO., LIMITED 宋鏐毅 香港，2025年8月11日 於本公告日期，執行董事為宋鏐毅先生（主席）、李玉龍先生及趙進龍先生；非執 行董事為喬曉潔女士及甘勇先生；及獨立非執行董事為陳杰平博士、韓踐博士及 黃誠思先生。 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年7月31日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 金茂物業服務發展股份有限公司 | | | 呈交日期: | 2025年8月6日 | | | I. 法定/註冊股本變動 不適用 | | | FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00816 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 904,189,000 | | 0 | | 904,189,000 | | 增加 / 減少 (-) | | | 0 | ...

Core Insights - Liling Intelligent Lighting and Jinmao Service have formed a strategic partnership to enhance smart community construction [1] - The collaboration aims to improve operational efficiency and reduce energy costs while creating a comfortable and safe living environment for residents [1] Group 1: Partnership Details - The agreement involves the implementation of Liling's high-efficiency lighting solutions across several benchmark projects managed by Jinmao Service [1] - The high-efficiency T8 energy-saving lamps will be utilized, which are designed for various settings including parking lots, supermarkets, offices, and homes [1] Group 2: Environmental Impact - The lighting solution is expected to achieve over 80% energy savings under equivalent illumination conditions, contributing to energy conservation and emission reduction [1] - This initiative supports the green and low-carbon development of communities [1] Group 3: Project Implementation - The solution will first be deployed in Jinmao Service's most prestigious high-end community projects, such as Shanghai Xijiao Jinmao Mansion and Huzhou Jinmao Changdong Mansion [2] - These projects exemplify Jinmao's "quality living" philosophy and represent the direction of high-end property services in China [2] Group 4: Industry Standards - Through deep practice in these benchmark projects, Liling Intelligent Lighting aims to create an industry model case of "technology empowering property" [2] - The collaboration will establish a complete cooperation paradigm that includes technical standards, service processes, and management models [2]

Core Viewpoint - Jinmao Property Service has achieved a significant upgrade in its ESG rating from BBB to AA, reflecting its systematic improvements and outstanding performance in environmental, social, and governance practices [1][3]. ESG Rating and Recognition - The ESG rating system used by Wind is authoritative in China, considering international frameworks and local market conditions, with a grading scale from AAA to CCC [3]. - Jinmao Service's upgrade to AA is a strong affirmation of its management level, risk control capabilities, and sustainable development potential [3]. Governance Practices - Jinmao Service has demonstrated high responsibility and transparency in governance, enhancing its governance structure and internal controls [4]. - The company held five board meetings in 2024 with a 97.5% attendance rate, ensuring effective decision-making [4]. - Jinmao Service actively engaged with investors, holding two earnings release meetings and publishing 47 announcements, thereby maintaining investor rights and enhancing market trust [4]. Environmental Responsibility - The company has actively responded to national "dual carbon" goals, implementing policies that guide its ESG practices and integrating green development into its operations [5]. - In 2024, Jinmao Service reported zero major environmental incidents and maintained a 100% compliance rate for waste gas and wastewater emissions [5]. Social Contributions - Jinmao Service focuses on creating social value, aiming to enhance public welfare through service innovation and community engagement [6]. - The company is committed to improving urban ecology and community vitality while advancing digital and smart construction [6]. - The upgrade to AA in the Wind ESG rating marks a significant milestone in Jinmao Service's sustainable development journey [6]. Future Commitments - Jinmao Service plans to continue aligning with national sustainable development strategies and improve its climate-related ESG disclosures to meet growing regulatory and investor demands [6]. - The company aims to further integrate ESG into its core strategy and daily operations, driving continuous improvement in ESG management [6].

Group 1 - The article provides a list of companies listed on the Hong Kong stock market along with their dividend distribution dates and shareholder meeting dates [1][4][5] - Notable companies mentioned include China Railway, Green Town China, and Budweiser APAC, which are scheduled for dividend payments [4][5] - The document outlines various companies' actions regarding capital increases and dividend distributions, indicating ongoing corporate activities in the market [4][5]

Core Points - The article discusses the upcoming 2025 TrendBank (Yinchuan) Long-term Energy Storage Industry Conference scheduled for July 2-3, 2025, in Yinchuan, China, which is open for free registration to the industry [2][13][25] - The conference will feature various speakers, including industry leaders and experts, discussing advancements in energy storage technologies [4][9][12] Group 1: Conference Details - The conference will be held at the Yinchuan Lida Deep Hang International Hotel, with an expected attendance of over 300 participants [13][14] - The event is organized by TrendBank in collaboration with Shanghai Electric Energy Storage Technology Co., Ltd. and supported by the Yinchuan government and other industry associations [15][14] - A blue paper on the development of long-term energy storage will be released during the conference [2][20] Group 2: Key Speakers and Topics - Notable speakers include Guo Shaofeng, the Market Director of China Storage National Energy Technology Co., who will present on advanced compressed air energy storage technology [4][9] - The agenda includes sessions on various energy storage technologies such as compressed air, molten salt, and liquid flow batteries, with discussions on their applications and market potential [16][22] Group 3: Industry Context - The conference aims to promote knowledge sharing and collaboration within the long-term energy storage sector, aligning with national strategies for energy transition and sustainability [17][18] - The Su-Yin Industrial Park, where the conference is held, focuses on developing new energy materials and technologies, contributing to the growth of the energy storage industry [17][18]

Investment Rating - The report maintains a "Positive" investment rating for the property management industry [13]. Core Insights - The property management sector is experiencing stable growth in management scale, with a focus on improving quality and efficiency, leading to a recovery in profitability. High-quality property management companies are expected to achieve long-term stable performance and even maintain certain growth rates [4][11]. - The transition from "profitable revenue" to "cash flow profit" is underway, with many companies demonstrating strong cash flow performance due to effective receivables management [9][60]. - There is an increasing emphasis on shareholder returns, with a rising proportion of dividends and share buybacks, resulting in an average total return rate exceeding 6% for mainstream property management companies [10][11]. Summary by Sections Profit Stability of Property Management Companies - The stability of profits is fundamental to exploring the dividend value of property management companies. After over three years of adjustments, companies are increasingly focusing on core operations, with many achieving stable or even growing profits [8][24]. - The management scale remains stable, with many companies emphasizing market expansion capabilities. Some have begun to recover gross and net profit margins through quality improvements [25][38]. Transition from Profit to Cash Flow - Most property management companies maintain a cash flow coverage ratio of over 1X against net profit, indicating a smooth transition to cash flow profits. However, some companies face challenges due to receivables and impairment issues [9][60]. - The differentiation in receivables and cash collection capabilities is a key factor affecting the cash profit ratio among companies [9][60]. Dividend Potential and Excess Cash - Property management companies are increasingly focusing on higher dividend payouts to reward shareholders, with an average dividend payout ratio of over 50% expected in 2024. The average dividend yield for mainstream companies is projected to reach 5.5% [10][11]. - Many companies have significant cash reserves, with some exceeding 10 billion yuan, indicating potential for higher future dividends [10][11]. Industry and Company Valuation - The report suggests that the dividend value is just the starting point for investment in high-quality state-owned and private property management companies. The potential for cash distribution and value-added services is seen as hidden options for future growth [11][12]. - The report recommends focusing on three main lines: companies expected to maintain high growth rates, those with superior growth and static dividend returns, and undervalued state-owned enterprises with excess cash [11].

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]