[0 -> 17] 大家好欢迎参加明远云集团控股有限公司2022年度业绩发布会目前所有参会者均处于静音状态下面开始播报免责声明本次会议仅服务于参会的广大投资者会以音频及文字记录的内容仅供参会者内部使用不得公开发布 [17 -> 45] 明月云为授权任何媒体转发本次会议相关内容未经允许和授权的转载转发均属侵权明月云将保留追究其法律责任的权利明月云不承担因转载转发而产生任何损失和责任市场有风险投资区谨慎提醒广大投资者谨慎做出投资决策在会议开始前我们提示各位投资者在主讲嘉宾发言结束后将留有提问时间接下来有请主持人发言谢谢 [48 -> 77] 各位投资人晚上好欢迎各位参加明远云集团控股有限公司2022年年度业绩发布会首先请允许我介绍一下今天参与业绩发布会的公司管理层他们分别是明远云董事会主席高宇先生明远云首席技术官陈小辉先生明远云首席财务官肖志淼女士 [80 -> 94] 以及我本人明云云资本市场部总经理周游首先我们有请公司董事会主席高宇先生向大家做业绩发布会的开场致辞 [98 -> 115] 好各位投资人晚上好确实刚刚过去的2022年对绝大部分企业都是非常具有挑战性的一年我想对于明源更是如此因为我们所服务的行业房 ...

Financial Performance - Total revenue for the year 2022 was approximately RMB 1,816.4 million, a year-on-year decrease of about 16.9%[2] - Adjusted net loss for 2022 reached approximately RMB 627.0 million, a year-on-year increase of about 304.1%[2] - The company reported a net loss attributable to owners of RMB 1,159,212 for 2022, compared to a loss of RMB 495,918 in 2021, indicating a significant increase in losses[26] - The net loss for the reporting period was approximately RMB 1,159.2 million, a year-on-year increase of 133.8% from RMB 495.9 million[81] - The company reported an operating loss of RMB 1,265.7 million, an increase of 101.9% year-on-year from RMB 626.8 million, influenced by macroeconomic conditions and ongoing R&D investments[76] Revenue Breakdown - Revenue from SaaS products in 2022 was approximately RMB 1,426.6 million, a year-on-year increase of about 6.6%, accounting for 78.5% of total revenue[2] - Revenue from ERP solutions in 2022 was approximately RMB 389.8 million, a year-on-year decrease of about 54.0%, accounting for 21.5% of total revenue[2] - SaaS product revenue for 2022 was RMB 1,426.6 million, a year-on-year increase of 6.6% from RMB 1,337.7 million in 2021, accounting for 78.5% of total revenue[59] - ERP solution revenue for 2022 was RMB 389.8 million, a year-on-year decrease of 54.0% from RMB 846.8 million in 2021, accounting for 21.5% of total revenue[61] Research and Development - R&D investment in 2022 reached approximately RMB 816.9 million, a year-on-year increase of about 27.2%[2] - Research and development expenses rose to RMB 816,934 in 2022, up from RMB 642,295 in 2021, highlighting continued investment in innovation[24] - Research and development expenses increased by 30% to RMB 300 million, reflecting the company's commitment to innovation[111] Customer Metrics - The annual customer account retention rate for the cloud customer solution was 82.0%, down from 88.0% in the previous year[6] - The number of real estate developers on the cloud procurement platform grew to approximately 4,400, a year-on-year increase of about 15.8%[9] - User data indicates an increase in active users to 5 million, up from 4 million in the previous year, marking a growth of 25%[112] Cost Management - The company is committed to enhancing cash flow management and reducing operational costs to improve profitability and resilience amid industry challenges[23] - The company aims to enhance operational efficiency and cost reduction, with the results expected to gradually manifest in the following year[55] - Sales and marketing expenses rose by 12.2% year-on-year to RMB 1,006.9 million, accounting for 55.4% of total revenue, up from 41.1%[68] - General and administrative expenses decreased by 32.0% year-on-year to RMB 682.3 million, representing 37.6% of total revenue, down from 45.9%[69] Strategic Initiatives - The company plans to accelerate its strategic transformation by expanding into the industrial and infrastructure non-residential real estate market, covering both incremental and stock asset management[18] - The company aims to enhance its digital technology innovation capabilities by continuously investing in the Tianji PaaS platform[18] - The company plans to selectively seek strategic investments and acquisitions, allocating 20.0% of the net proceeds (approximately HKD 1,382.06 million) for this purpose by December 31, 2023[98] Market Outlook - The company projects a revenue guidance of RMB 1.5 billion for the next fiscal year, indicating an expected growth of 25%[113] - The company plans to expand its market presence in Southeast Asia, targeting a 15% market share within the next two years[115] Awards and Recognition - The company has received multiple awards, including "Top 10 High-Value Technology Teams of 2022" and "Outstanding Low-Code Platform Product" from Hai Bi Research Institute[12] Corporate Governance - The company has adopted the principles and code provisions of the Corporate Governance Code as a basis for its corporate governance practices[99] - The company has established an audit committee consisting of three independent non-executive directors[105]

Financial Performance - Total revenue for the six months ended June 30, 2022, reached RMB 881.2 million, a year-on-year decrease of 9.5%[6] - Adjusted net loss for the same period was RMB 342.7 million, a year-on-year increase of 277.1%[8] - The company reported a net loss of approximately RMB 563.8 million for the period, a decrease of 400.7% compared to a net profit of RMB 187.5 million in the same period of 2021[48] - The company reported a net loss of RMB 124.4 million in other gains/losses, a 453.4% decline year-over-year, primarily due to increased foreign exchange losses[44] - The company reported a pre-tax loss of RMB 567.4 million for the six months ended June 30, 2022, a decrease of 403.6% compared to a pre-tax profit of RMB 186.9 million in the same period of 2021[48] Revenue Breakdown - Revenue from SaaS products amounted to RMB 669.4 million, representing a year-on-year growth of 21.3% and accounting for 76.0% of total revenue[8] - Revenue from ERP solutions was RMB 211.8 million, a year-on-year decline of 49.8%, making up 24.0% of total revenue[8] - The revenue contribution from the "Other" category surged to RMB 84.2 million, a significant increase of 3,305.7% year-on-year from RMB 2.5 million[27] - SaaS product revenue reached RMB 669.4 million, growing by 21.3% and accounting for 76.0% of total revenue[24] - ERP solution revenue was RMB 211.8 million, down 49.8%, representing 24.0% of total revenue[24] Operational Challenges - The company faced significant industry challenges, with a 22.2% year-on-year decline in commodity housing sales area in the first half of 2022[9] - The company has observed a cautious investment approach from end customers in ERP solutions, leading to a decline in sales revenue for this segment during the reporting period[60] - The digitalization penetration rate in the real estate sector remains low, indicating substantial future growth potential[9] - The company implemented various measures to mitigate the impact of industry downturns and optimize operations[10] Cost and Expenses - Sales and marketing expenses rose to RMB 501.2 million, a 30.1% increase from RMB 385.3 million in the previous year, driven by higher distributor commissions and increased employee benefits for the sales team[38] - General and administrative expenses increased to RMB 302.9 million, a 274.0% year-over-year increase, primarily due to increased share-based compensation expenses[39] - Research and development expenses rose to RMB 392.9 million, reflecting a 54.2% year-over-year increase, driven by higher employee welfare costs for R&D staff, which numbered 2,049, up 16.5% year-over-year[40] Cash Flow and Liquidity - As of June 30, 2022, the company had cash and cash equivalents totaling approximately RMB 4,348.3 million, down from RMB 5,450.2 million as of December 31, 2021[53] - The company maintained a net cash position as of June 30, 2022, indicating a strong capital structure[121] - Operating cash flow for the six months ended June 30, 2022, was a net outflow of RMB 406,879 thousand, compared to a net inflow of RMB 13,826 thousand for the same period in 2021[109] Shareholder Information - The company did not declare any interim dividend for the six months ended June 30, 2022, consistent with the previous year[62] - A total of 22,157,000 shares were repurchased during the six months ended June 30, 2022, at a total cost of HKD 231,969,717.60[63] - The company has not made any significant acquisitions, disposals, or investments during the six months ending June 30, 2022[58] Employee and Compensation - The company reported a significant increase in share-based compensation expenses to RMB 221,043 from RMB 6,026 in the previous year, indicating a strategic shift in employee compensation[145] - Employee benefit expenses rose to RMB 682,137, a 27.9% increase from RMB 533,595 in the previous year[145] - The expected retention rate for the granted restricted share units was estimated at 96% as of June 30, 2022, indicating strong employee retention expectations[193] Financial Position - Non-current assets totaled RMB 1,043.1 million as of June 30, 2022, compared to RMB 659.1 million as of December 31, 2021[7] - Total assets decreased to RMB 6,525.7 million from RMB 6,972.8 million over the same period[7] - The total equity attributable to owners decreased to RMB 5,489,744 thousand, down from RMB 5,930,176 thousand[107] Market and Growth Strategy - The company is focusing on four core product lines: Customer Relationship Management (CRM), Engineering Construction, Asset Management, and Supply Chain Management (SCM) to support SaaS growth[22] - The company plans to accelerate the transition from OP to SaaS in the residential development sector, optimizing its business model[19] - The company aims to strengthen cash flow management and reduce operational costs amid industry uncertainties[22] Investment and Acquisitions - The company plans to utilize approximately HKD 6,910.3 million from its global offering, with 28.9% already utilized by June 30, 2022[66] - 20% of the net proceeds is designated for strategic investments and acquisitions, with HKD 570.72 million utilized by June 30, 2022[68] - The company has not held any significant investments as of June 30, 2022[58] Governance and Compliance - The audit committee has reviewed the company's accounting principles and internal controls, confirming compliance with applicable standards[62] - The company adheres to good corporate governance standards to protect shareholder interests and enhance corporate value[61]

Financial Performance - Revenue for the year 2021 reached RMB 2,184.5 million, representing a year-on-year growth of 28.1%[12] - Adjusted net profit for 2021 was RMB 307.2 million, a decrease of 19.7% compared to the previous year[12] - The company reported an operating loss of RMB 626.8 million for 2021, compared to an operating profit of RMB 326.5 million in 2020[10] - The net loss for the year was approximately RMB 495.9 million, a decrease of 25.8% from RMB 668.2 million in the previous year[83] - The adjusted EBITDA for the year 2021 was RMB 233.06 million, a decrease of 44.8% compared to RMB 422.28 million in 2020[87] - The total cash and cash equivalents, along with time deposits, amounted to approximately RMB 5,450.2 million as of December 31, 2021, down from RMB 6,572.1 million in 2020[92] - The current ratio as of December 31, 2021, was approximately 6.66, a decrease from 8.55 as of December 31, 2020[93] - The company maintained a net cash position as of December 31, 2021, with no significant contingent liabilities reported[95] Revenue Breakdown - SaaS product revenue reached RMB 1,337.7 million in 2021, with a year-on-year growth of 53.5%, accounting for 61.2% of total revenue[13] - ERP solution revenue was RMB 846.8 million in 2021, showing a modest growth of 1.5%, making up 38.8% of total revenue[13] - The cloud marketing solution "Yunke" generated RMB 1,025.2 million in revenue, representing 76.6% of SaaS product revenue, with a growth of 53.3% year-on-year[54] - The "Yunlian" solution contributed RMB 189.2 million, accounting for 14.1% of SaaS product revenue, with a growth of 37.6%[54] Research and Development - Research and development expenditure for 2021 amounted to RMB 642.3 million, an increase of 80.5% year-on-year[13] - The number of R&D employees reached 2,123 in 2021, a growth of 64.8%, constituting 50.0% of the total workforce[13] - R&D investment grew by over 80% year-on-year, with investment in the Tianji PaaS platform increasing by over 140%[17] - The Tianji PaaS platform achieved significant breakthroughs in five product suites, including over 40 connectors for the iPaaS suite and a fully localized BI and big data computing platform[34] Operational Metrics - The number of domestic sales offices equipped with the cloud customer service system reached approximately 16,600, an increase of about 11% year-on-year[26] - The cloud supply chain business saw approximately 3,800 real estate developers and 89,000 suppliers join the platform, representing year-on-year growth of about 36% and 25%, respectively[29] - The cloud chain business expanded to approximately 7,500 construction sites, a year-on-year increase of about 83%[27] - The annual customer account retention rate for the cloud chain's quality inspection, customer service, and risk control products was 90%[27] - The annual customer account retention rate for the company in 2021 was 78%, slightly up from 77% in 2020[30] Strategic Initiatives - The company initiated a transformation of its ERP system to a subscription model to lower the barriers for digital transformation[25] - The company plans to continue expanding its presence in the digitalization of the industry development/operation/service market, which has significant growth potential[19] - The company aims to launch a SaaS version of its ERP system to enable more small and medium-sized developers to achieve digital upgrades at a lower cost[19] - The company plans to enhance its SaaS offerings by launching new products and transitioning its ERP solutions to a subscription model, targeting small to medium-sized developers initially[43] Expenses and Costs - Sales and marketing expenses increased to RMB 897.2 million, a year-on-year increase of 52.0% from RMB 590.4 million in 2020, accounting for 41.1% of total revenue[67] - General and administrative expenses rose to RMB 1,002.8 million, a year-on-year increase of 382.8% from RMB 207.7 million in 2020, accounting for 45.9% of total revenue[68] - Research and development expenses increased to RMB 642.3 million, a year-on-year increase of 80.5% from RMB 355.9 million in 2020, with R&D staff increasing by 64.8% to 2,123 employees[69] - The cost of goods sold for SaaS products was RMB 123.9 million, a year-on-year increase of 9.9% from RMB 112.8 million in 2020[61] - The cost of goods sold for ERP solutions was RMB 309.5 million, a year-on-year increase of 22.4% from RMB 252.8 million in 2020[64] Shareholder Information - The board of directors has approved a dividend payout of $0.50 per share, reflecting a commitment to returning value to shareholders[112] - The company reported a final dividend of RMB 0.055 per share for the year ended December 31, 2021, equivalent to HKD 0.068 per share, subject to shareholder approval[118] - As of December 31, 2021, the company's available reserves for distribution amounted to approximately RMB 6,144.7 million[122] - The company has no bank loans or other borrowings as of December 31, 2021[123] Employee Metrics - The company had a total of 4,247 employees as of December 31, 2021, an increase from 3,170 employees in the previous year[105] - The total employee cost for the group was approximately RMB 2,058,077,000, which includes salaries, bonuses, pension costs, and other employee benefits[190] - The company continues to provide competitive salaries and benefits to attract and retain qualified personnel[105] - The company has implemented various employee social security plans in accordance with local regulations, including housing, pension, medical, and unemployment benefits[105] Acquisitions and Investments - On August 3, 2021, the company acquired a 29.906541% stake in Shenzhen Mingyuan Cloud E-commerce Co., Ltd. for a total consideration of RMB 598,130,841.17[105] - The company plans to enhance existing SaaS products with an investment of HKD 1,243.86 million, representing 18.0% of total net proceeds, to be utilized by December 31, 2023[127] - Strategic investments and acquisitions are targeted at HKD 1,382.06 million, which is 20.0% of total net proceeds, with expected utilization by December 31, 2023[128] Compliance and Governance - The board of directors includes a mix of executive and independent non-executive members, ensuring governance and oversight[143] - The independent non-executive directors have confirmed their independence as of December 31, 2021[143] - The company has confirmed compliance with non-competition agreements by its major shareholders[158] - The company is subject to the Cayman Islands Companies Law regarding the appointment and re-election of directors[140]

Financial Performance - The total revenue for the six months ended June 30, 2021, reached RMB 973.7 million, representing a year-on-year growth of 45.2% compared to RMB 670.7 million for the same period in 2020[12]. - Adjusted net profit for the same period was RMB 193.5 million, an increase of 32.7% from RMB 145.8 million in the previous year[12]. - The company's gross profit for the first half of 2021 was RMB 773.7 million, compared to RMB 529.4 million in the same period of 2020[6]. - Operating profit for the first half of 2021 was RMB 126.1 million, slightly down from RMB 132.7 million in the previous year[6]. - Profit for the six months ended June 30, 2021, was approximately RMB 187.5 million, a growth rate of approximately 119.7% compared to RMB 85.3 million for the same period in 2020[59]. - The pre-tax profit for the six months ended June 30, 2021, was RMB 186.9 million, compared to RMB 94.0 million for the same period in 2020[57]. - The net profit before income tax for the period was RMB 186.9 million, significantly higher than RMB 94.0 million in the previous year[175]. - Basic earnings per share increased to RMB 0.09 from RMB 0.05, reflecting a 80% growth year-on-year[121]. Revenue Breakdown - Revenue from SaaS products amounted to RMB 551.8 million, showing a significant growth of 65.5%, accounting for 56.7% of total revenue[10]. - Revenue from ERP solutions reached RMB 421.9 million, with a stable growth of 25.1%, making up 43.3% of total revenue[10]. - The revenue from the cloud customer management product (Yunke) surged by 82.1% to RMB 428.0 million in the first half of 2021[17]. - The revenue from ERP solutions grew by 25.1% to RMB 421.9 million in the first half of 2021[22]. - Revenue from ERP solutions included RMB 150.3 million from value-added services, RMB 140.3 million from software licenses, and RMB 87.5 million from product support services, showing significant growth compared to the previous year[166]. Cost and Expenses - The cost of sales increased by 41.5% from RMB 141.3 million to RMB 200.0 million for the same periods[36]. - The cost of sales for SaaS products increased by 78.6% from RMB 31.9 million in the six months ended June 30, 2020, to RMB 57.0 million in the six months ended June 30, 2021[38]. - The total cost of sales for ERP solutions increased by 30.7% from RMB 109.4 million in the six months ended June 30, 2020, to RMB 143.0 million in the six months ended June 30, 2021[40]. - Sales and marketing expenses rose by 67.7% from RMB 229.7 million in the six months ended June 30, 2020, to RMB 385.3 million in the six months ended June 30, 2021[43]. - Research and development expenses increased by 71.9% from RMB 148.2 million in the six months ended June 30, 2020, to RMB 254.8 million in the six months ended June 30, 2021, with R&D staff increasing by 65.8%[45]. Assets and Liabilities - The total assets as of June 30, 2021, were RMB 7,459.5 million, compared to RMB 7,472.2 million as of December 31, 2020[8]. - The total equity attributable to equity holders was RMB 6,509.6 million, a slight decrease from RMB 6,538.8 million in the previous period[7]. - Total liabilities decreased to RMB 895,436 thousand as of June 30, 2021, from RMB 902,630 thousand as of December 31, 2020, representing a reduction of approximately 0.2%[124]. - Current liabilities remained stable at RMB 846,604 thousand, slightly increasing from RMB 843,354 thousand, reflecting a marginal increase of 0.3%[124]. - The company's contract liabilities rose to RMB 632,707 thousand, up from RMB 548,938 thousand, marking an increase of approximately 15.2%[124]. Strategic Initiatives - The company recognizes the strategic value of digital transformation, leading to increased investments in digital upgrades across the industry[13]. - The company plans to continue investing in new products and technologies, including mobile platforms and data analysis platforms[24]. - The company aims to strengthen cooperation with top 100 real estate companies through the Tianji platform and digital operations[27]. - The company is focused on continuous investment in SaaS business to cover more scenarios and participants in the real estate ecosystem[27]. - The company is committed to building an industry cooperation ecosystem through co-creation, investment, and mergers and acquisitions[27]. Shareholder Information - As of June 30, 2021, the total number of issued shares was 1,927,149,990[6][90]. - HengXinYuan Investment Limited held 296,644,800 shares, representing approximately 15.39% of total shares[4][88]. - The company has a stock incentive plan aimed at rewarding and retaining key personnel, enhancing performance and collaboration[91][92]. - The major shareholders include GHTongRui Investment Limited, HengXinYuan Investment Limited, and LINGFAN Investment Limited, among others[1][88]. - The company did not declare any interim dividends for the six months ended June 30, 2021[74]. Cash Flow and Financing - Cash and cash equivalents as of June 30, 2021, amounted to RMB 2,567.8 million, with no bank financing[66]. - The company maintained a capital debt ratio of zero as of June 30, 2021, due to the absence of long-term borrowings[67]. - The net cash flow from operating activities was RMB 13,826 thousand for the six months ended June 30, 2021, compared to RMB 44,689 thousand in the same period of 2020, a decrease of about 69.0%[128]. - The company reported a foreign exchange gain of RMB 28.5 million, compared to a gain of RMB 1.5 million in the same period last year[173]. Market Environment - The real estate industry in China saw a sales revenue of RMB 9.3 trillion in the first half of 2021, growing by 38.9% year-on-year, indicating a favorable market environment for digital upgrades[13]. - The company plans to enter 100 new cities throughout the year as part of its strategy to penetrate lower-tier markets[27].

Financial Performance - Revenue for the year 2020 reached RMB 1,705.3 million, representing a year-on-year growth of 34.9%[9] - Adjusted EBITDA for 2020 was RMB 422.3 million, an increase of 52.6% compared to the previous year[9] - Adjusted net profit for 2020 amounted to RMB 382.7 million, reflecting a year-on-year growth of 62.2%[9] - Total revenue increased by 34.9% from RMB 1,264.0 million in 2019 to RMB 1,705.3 million in 2020, driven by business expansion and improved reputation among existing and potential customers[42] - The company reported an operating profit of RMB 326.5 million for 2020, up from RMB 244.1 million in 2019[7] - The gross profit for the year ended December 31, 2020, was RMB 1,339.7 million, an increase of 34.7% compared to RMB 994.6 million for the year ended December 31, 2019[56] - The gross profit from SaaS products increased by 63.1% to RMB 758.4 million, while the gross profit from ERP solutions rose by 9.7% to RMB 581.3 million[56] SaaS and ERP Business Growth - SaaS product revenue reached RMB 871.2 million in 2020, a year-on-year increase of 70.9%, accounting for 51.1% of total revenue[9] - The company's SaaS business revenue increased by 70.9% year-on-year to RMB 871.2 million, accounting for 51.1% of total revenue, achieving profitability for the first time[15] - The ERP business maintained a year-on-year growth of 10.6%, reaching RMB 834.1 million despite the adverse effects of the pandemic[15] - The company's ERP solution revenue increased by 10.6% from RMB 754.1 million in 2019 to RMB 834.1 million in 2020, with 89 of the top 100 real estate developers as clients[26] Customer and Market Expansion - The company served approximately 15,200 sales offices in 2020, with a year-on-year growth of over 70%[9] - The number of developers served increased to about 2,000 in 2020, showing a year-on-year growth of 12.4%[9] - The number of cities covered by the company's marketing and service network expanded from 42 to 70 during the reporting period, enhancing localized professional services[15] - The average cooperation amount with the top 100 real estate developers increased significantly from RMB 4.7 million in 2019 to RMB 6 million in 2020, reflecting strong trust in the company's products and services[15] Financial Position and Assets - Total assets as of December 31, 2020, were RMB 7,472.2 million, compared to RMB 1,234.7 million in 2019[8] - Total liabilities were RMB 902.6 million in 2020, down from RMB 963.7 million in 2019[8] - The company's equity attributable to owners was RMB 6,538.8 million in 2020, compared to RMB 266.5 million in 2019[8] - Cash and cash equivalents, along with time deposits, totaled approximately RMB 6,572.1 million as of December 31, 2020, a significant increase from RMB 732.2 million in 2019[80] - The current ratio improved to 8.55 as of December 31, 2020, compared to 1.08 at the end of 2019, indicating a strong liquidity position[81] Operational Efficiency and Cost Management - The cost of sales for SaaS products surged by 151.0% from RMB 44.9 million in 2019 to RMB 112.8 million in 2020, primarily due to increased hardware costs and employee benefits[51] - The total cost of sales for ERP solutions increased by 12.6% to RMB 252.8 million, driven by rising employee and outsourcing costs[53] - Sales and marketing expenses increased by 33.8% to RMB 590.4 million, accounting for 34.6% of total revenue, slightly down from 34.9% in the previous year[57] - General and administrative expenses rose by 91.6% to RMB 207.7 million, with the proportion of total revenue increasing from 8.6% to 12.2%[58] - Research and development expenses increased by 24.3% to RMB 355.9 million, driven by an increase in the number of R&D staff and their compensation levels[59] Strategic Initiatives and Future Plans - The company aims to accelerate the digital upgrade of the real estate ecosystem in 2021, focusing on expanding its SaaS business and enhancing the Tianji Open Platform infrastructure[31] - The company plans to maintain its leading position in ERP solutions among real estate developers through its extensive regional channel partner network[31] - The company plans to enhance existing SaaS products with an investment of HKD 1,243.86 million, representing 18.0% of total net proceeds, to be completed by December 31, 2023[110] - The company aims to develop new SaaS products with an investment of HKD 414.62 million, also 6.0% of total net proceeds, to be finalized by December 31, 2023[110] Governance and Management - The company’s board of directors includes four executive directors and three independent non-executive directors[121] - The board has confirmed that the transactions conducted during the reporting period under the contract arrangements were established according to the relevant terms and were fair and reasonable[154] - The independent non-executive directors have confirmed their independence in accordance with the listing rules[188] - The company has arranged appropriate liability insurance for directors and senior officers to protect against legal actions arising from corporate activities[192] Social Responsibility and Community Engagement - The company has committed to social responsibility and environmental protection, including a donation of RMB 1 million for COVID-19 relief efforts[116] - The company emphasizes the importance of maintaining a strong relationship with stakeholders, including employees and customers, to ensure sustainable development[113]

Financial Performance - Total revenue reached RMB 670.7 million, representing a 37.3% increase compared to RMB 488.3 million in the same period last year[7]. - Net profit amounted to RMB 85.3 million, with adjusted net profit reaching RMB 145.8 million[7]. - Adjusted EBITDA was RMB 170.8 million, reflecting strong operational performance[7]. - Gross profit rose to RMB 529.4 million, up from RMB 377.0 million, indicating a strong growth trajectory[9]. - The company reported a profit of approximately RMB 85.3 million for the six months ended June 30, 2020, an increase of about RMB 24.9 million or 41.3% compared to RMB 60.4 million for the same period in 2019[56]. - Operating profit increased from RMB 62.8 million for the six months ended June 30, 2019, to RMB 132.7 million for the six months ended June 30, 2020[49]. - The company reported a total comprehensive income of RMB 77,112,000 for the period, compared to RMB 60,810,000 in 2019[114]. - The company reported a basic earnings per share for the period was RMB 0.05, compared to RMB 0.04 in the same period last year[114]. Revenue Breakdown - SaaS product revenue grew by 64.9% to RMB 333.4 million, driven by increased market acceptance and demand during the COVID-19 pandemic[8]. - ERP solution revenue increased by 17.9% to RMB 337.3 million, supported by enhanced customer service capabilities[8]. - SaaS product revenue reached RMB 179.5 million, RMB 329.3 million, RMB 509.8 million, and RMB 333.4 million for the years 2017, 2018, 2019, and the first half of 2020, respectively[18]. - The company achieved revenue from ERP solutions of RMB 400.1 million, RMB 583.5 million, RMB 754.1 million, and RMB 337.3 million for the years 2017, 2018, 2019, and the first half of 2020, respectively[16]. Cost and Expenses - Sales and marketing expenses increased by 30.5% from RMB 176.0 million for the six months ended June 30, 2019, to RMB 229.7 million for the six months ended June 30, 2020, primarily due to increased commission expenses from SaaS product revenue and higher employee benefits for the sales team[39]. - General and administrative expenses rose from RMB 44.6 million for the six months ended June 30, 2019, to RMB 73.6 million for the six months ended June 30, 2020, mainly due to increased listing expenses and share-based compensation[41]. - Research and development expenses increased from RMB 129.9 million for the six months ended June 30, 2019, to RMB 148.2 million for the six months ended June 30, 2020, attributed to a rise in the number of R&D staff and their compensation levels[42]. Market Position and Strategy - The company holds an 18.5% market share as the leading software solution provider for real estate developers in China, according to Frost & Sullivan data[12]. - The strong performance is attributed to ongoing business expansion and improved reputation among existing and potential clients[7]. - The company aims to expand its SaaS business and enhance product and technology innovation to diversify its customer base among regional real estate developers[23]. - The company is focused on integrating industry resources to deepen partnerships with leading real estate developers[23]. User and Customer Metrics - The company reported a significant increase in user data, with a total of 1 million active users, representing a growth of 25% year-over-year[74]. - The management highlighted a 30% increase in customer retention rates, attributed to improved service offerings[74]. Cash and Liquidity - As of June 30, 2020, the company had cash and cash equivalents of RMB 269.9 million, with no bank financing[64]. - The company reported a net cash position as of June 30, 2020, reflecting a strong capital management strategy aimed at sustainable growth[133]. - Cash and cash equivalents decreased significantly to RMB 269,946 thousand from RMB 732,207 thousand, a decline of 63.1%[115]. Corporate Governance and Compliance - The audit committee, composed of three independent non-executive directors, reviewed the accounting principles and policies adopted by the company[87]. - The company confirmed compliance with the corporate governance code from the listing date to the report date[82]. - The independent auditor conducted a review of the interim financial information in accordance with International Standard on Review Engagements[87]. Future Outlook - The management team provided a positive outlook for the next quarter, projecting a revenue increase of 15% to 20% based on current market trends[75]. - The company plans to continue expanding its SaaS and ERP solutions to enhance market presence and customer engagement[27]. - The company is focusing on new product development, with plans to launch three innovative software solutions by the end of Q3 2020[76]. Shareholder Information - Mr. Gao holds 395,523,600 shares, representing 21.14% of the total shares[90]. - Mr. Chen holds 296,644,800 shares, representing 15.86% of the total shares[90]. - Mr. Jiang holds 186,826,600 shares, representing 9.99% of the total shares[90]. - TMF (Cayman) Ltd. is the trustee for four trusts, holding a total of 927,316,000 shares, which is 49.56% of the total shares[96]. Investment and Acquisitions - The company has completed two strategic acquisitions in the past year, enhancing its technological capabilities and market reach[76]. - The company reported a total acquisition of RMB 1,561,830,000 and a total sale of RMB (1,087,427,000) during the reporting period[142].