Core Viewpoint - Jiayuan Services (01153.HK) announced that its board meeting will be held on August 29, 2025, to approve the interim results for the six months ending June 30, 2025, and to consider the distribution of an interim dividend, if any [1] Summary by Categories - **Company Announcement** - The board meeting is scheduled for August 29, 2025 [1] - The meeting will focus on approving the interim results for the six months ending June 30, 2025 [1] - The board will also consider the distribution of an interim dividend [1]

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份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。 Jiayuan Services Holdings Limited 佳源服務控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：1153） 董事會召開日期 佳源服務控股有限公司（「本公司」）董事會（「董事會」）謹此宣佈，本公司董事會 會議將於2025年8月29日（星期五）舉行，旨在（其中包括）批准本公司及其附屬公 司截至2025年6月30日止六個月之中期業績及考慮派發中期股息（如有）。 承董事會命 佳源服務控股有限公司 主席兼執行董事 李猛 香港，2025年8月18日 於本公告日期，執行董事為李猛先生（主席）及辛冰先生，非執行董事為阮紅女 士，以及獨立非執行董事為張辰先生、崔艷女士及蔡思韜先生。 ...

Core Viewpoint - Jiayuan Services (01153.HK) expects a significant increase in net profit for the six months ending June 30, 2025, compared to the same period in 2024, primarily due to the reversal of impairment provisions related to unauthorized guarantees provided to the ultimate controlling shareholder [1] Financial Performance - The company anticipates net profit attributable to shareholders to be between RMB 120 million and RMB 150 million for the six months ending June 30, 2025 [1] - For the six months ending June 30, 2024, the net profit attributable to shareholders was approximately RMB 63.2 million [1] - The increase in net profit is mainly attributed to the reversal of impairment provisions amounting to approximately RMB 109 million related to unauthorized guarantees [1]

Core Viewpoint - Jiayuan Services (01153) expects a significant increase in net profit for the six months ending June 30, 2025, compared to the same period in 2024, primarily due to the reversal of impairment provisions related to unauthorized guarantees provided to the ultimate controlling shareholder [1]. Financial Performance - The company anticipates net profit attributable to shareholders of approximately RMB 120 million to RMB 150 million for the six months ending June 30, 2025 [1]. - For the six months ending June 30, 2024, the net profit attributable to shareholders is expected to be around RMB 63.2 million [1]. - The increase in net profit is mainly attributed to the reversal of impairment provisions amounting to approximately RMB 109 million, resulting from a mediation agreement signed on May 15, 2025 [1].

Core Viewpoint - Jiayuan Services (01153) expects to record a net profit attributable to shareholders of approximately RMB 120 million to RMB 150 million for the six months ending June 30, 2025, compared to a net profit of approximately RMB 63.2 million for the six months ending June 30, 2024, indicating a significant increase in profitability driven by a recent agreement related to impairment provisions [1] Financial Performance - The anticipated net profit for the six months ending June 30, 2025, is projected to be between RMB 120 million and RMB 150 million [1] - The net profit for the six months ending June 30, 2024, was approximately RMB 63.2 million [1] - The increase in net profit is primarily attributed to the reversal of impairment provisions amounting to approximately RMB 109 million related to unauthorized guarantees provided to the then ultimate controlling shareholder [1]

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依 賴該等內容而引致的任何損失承擔任何責任。 Jiayuan Services Holdings Limited 佳源服務控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1153） 正面盈利預告 本公告乃由佳源服務控股有限公司（「本公司」，連同其附屬公司統稱為「本集團」） 根據香港聯合交易所有限公司證券上市規則（「上市規則」）第13.09條及證券及期 貨條例（香港法例第571章）第XIVA部項下的內幕消息條文（定義見上市規則）作 出。 1 股東及本公司潛在投資者於買賣本公司股份時務請審慎行事。 承董事會命 佳源服務控股有限公司 主席兼執行董事 李猛 香港，2025年8月15日 於本公告日期，執行董事為李猛先生（主席）及辛冰先生；非執行董事為阮紅女 士；及獨立非執行董事為張辰先生、崔艷女士及蔡思韜先生。 2 本公司董事（「董事」）會（「董事會」）謹此知會本公司股東（「股東」）及潛在投資 者，根據對本集團截至2025年6月30日止六個月最新 ...

Group 1 - Country Garden and its executives received public reprimands from stock exchanges for failing to timely disclose the 2024 interim report, indicating internal governance issues that may undermine investor trust in financial transparency and affect bond market financing capabilities [1] - China Overseas Development renewed a total construction agreement with China State Construction, effective from July 1, 2025, to June 30, 2028, with transaction limits set at 2.5 billion yuan for the second half of 2025, 5 billion yuan for 2026 and 2027, and 2.5 billion yuan for the first half of 2028, reflecting a trend of resource integration led by state-owned enterprises in the construction industry [2] - Jiayuan Services entered into a compulsory execution mediation agreement to resolve legal disputes, with a payment of 86 million yuan expected to be covered by internal resources, although governance issues and potential debt repayment pressures from the former controlling shareholder remain [3] Group 2 - China Evergrande Group's liquidator has been authorized to request debt proof from creditors, which may reshape corporate governance structures in the real estate sector and emphasize creditor rights protection, although market trust in similar companies may take time to restore [4] - Huaxia Happiness reported that the trust plan for debt restructuring has not completed asset delivery and transfer, with 22.348 billion yuan already executed in trust debt offset transactions, while the remaining 1.653 billion yuan is still in progress, indicating ongoing challenges in debt management and restructuring execution [5][6]

Core Viewpoint - The company has entered into a compulsory execution mediation agreement to resolve obligations related to unauthorized guarantees and connected transactions, which is expected to impact its financials significantly [1][3][4] Group 1: Mediation Agreement Details - The mediation agreement involves Shanghai Jinyuan and Shanghai Zhijin agreeing to pay a total of RMB 86 million to settle obligations under a share transfer and guarantee agreement [1] - The payment structure includes RMB 43 million through the transfer of 1,034 parking spaces and the remaining RMB 43 million in cash, with specific payment deadlines outlined [1][2] - The agreement allows for the unfreezing of bank accounts of Zhejiang Heyuan and Zhejiang Zhixiang Daceng upon receipt of the initial payment [2] Group 2: Financial Implications - The company anticipates a loss reversal of approximately RMB 109 million due to the mediation, which includes a difference between a previously recorded provision and the mediation amount [3] - The estimated value of the parking spaces to be transferred is around RMB 44.49 million as of March 31, 2025, impacting the overall financial assessment [3] - The actual financial impact will be subject to review by the company's auditors and may differ from the estimates provided [3] Group 3: Strategic Considerations - The board believes that entering into the mediation agreement is a fair and reasonable approach to resolve arbitration matters amicably, avoiding further legal costs and potential negative impacts on the company [4] - The agreement is expected to enhance the company's cash flow and improve operational liquidity by releasing frozen deposits [4] - The company has committed not to pursue claims against Zhejiang Heyuan and Zhejiang Zhixiang Daceng if they fulfill their obligations under the mediation agreement [2][4]

Strategic Development - The company reported a strategic shift towards high-quality development in the property industry, focusing on core business and operational efficiency[13]. - The introduction of a new service quality control system aims to enhance user experience and satisfaction, which is expected to drive brand recognition and operational cost reduction[16]. - The company plans to implement a regional hub strategy to enhance project collaboration and service delivery, targeting high-end user groups to increase brand premium[16]. - Investment in product and service innovation will be increased to create differentiated competitive advantages, aiming for higher quality solutions for property owners[16]. - The company emphasizes a "customer first" approach, integrating altruistic thinking into its service system to enhance community member satisfaction[14]. - The management aims to achieve the "Four Satisfactions" and "Three Goals" through refined and high-quality management practices[16]. - The company anticipates that the property service value assessment system will be restructured, driven by government initiatives for better housing[13]. - The focus on technology empowerment is expected to transform property services from a cost center to a profit center[13]. - The company is committed to creating a service ecosystem centered on user experience and value creation[14]. - The management is optimistic about the upcoming year, viewing it as a critical period for transformation and upgrade in the property industry[13]. Financial Performance - As of December 31, 2024, the group managed 269 property management projects with a contracted area of approximately 54.6 million square meters, a decrease of about 6.9% and 5.5% respectively compared to the same period in 2023[20]. - The group's revenue for the year ended December 31, 2024, was approximately RMB 858.8 million, a decrease of about 1.1% from RMB 868.2 million in 2023[20][23]. - The gross profit for the year ended December 31, 2024, was approximately RMB 240.9 million, a decrease of about 0.5% from RMB 242.1 million in 2023, with a gross margin of 28.1%, up from 27.9% in the previous year[20][30]. - Property management service revenue increased by approximately 3.1% to RMB 785.9 million for the year ended December 31, 2024, primarily due to an increase in average property management fees[21][25]. - Revenue from property developer value-added services decreased by approximately 63.1% to RMB 11.3 million, attributed to a reduction in the number of service projects and newly delivered projects[21][26]. - Community value-added service revenue decreased by approximately 18.4% to RMB 61.6 million, mainly due to a reduction in service projects and a decline in the average spending per resident[22][28]. - The cost of services and sales decreased by approximately 1.3% to RMB 617.8 million, primarily due to a reduction in employee compensation[29]. - Administrative expenses increased by approximately 24.8% to RMB 80.8 million, mainly due to non-recurring expenses such as resumption, legal litigation, and board changes[38]. - The income tax expense for the year ended December 31, 2024, was approximately RMB 19.1 million, a decrease from RMB 20.4 million in 2023, consistent with the reduction in pre-tax profit[41]. - The group reported a profit of approximately RMB 13.3 million for the year ended December 31, 2024, compared to a loss of approximately RMB 77.4 million in 2023[20]. - The company's profit shifted from a loss of approximately RMB 77.4 million for the year ending December 31, 2023, to a profit of approximately RMB 13.3 million for the year ending December 31, 2024[42]. - The total profit attributable to the owners of the company improved from a loss of approximately RMB 80.9 million to a profit of approximately RMB 8.2 million over the same period[42]. Assets and Liabilities - Property and equipment decreased by approximately 12%, from about RMB 25.8 million to about RMB 22.7 million, primarily due to annual depreciation[43]. - Intangible assets decreased by approximately 7.8%, from about RMB 120.8 million to about RMB 111.3 million, mainly due to annual amortization[44]. - Trade receivables increased by approximately 11.8%, from about RMB 313.8 million to about RMB 350.9 million, attributed to a slight decline in cash collection[45]. - Other receivables rose by approximately 2.5%, from about RMB 55.2 million to about RMB 56.6 million, mainly due to increased performance guarantees for new project bids[45]. - Trade payables increased by approximately 5.4%, from about RMB 74.1 million to about RMB 78.1 million, due to higher payments to subcontractors for services[46]. - Cash and cash equivalents increased by approximately 23.4%, from RMB 48.0 million to RMB 60.8 million[48]. - The current ratio improved slightly from approximately 0.60 to 0.61, indicating a stable liquidity position[49]. Operational Challenges - As of December 31, 2024, the group recognized a provision for losses related to unauthorized pledged shares amounting to approximately RMB 46,862,000[56]. - The group has incurred losses of approximately RMB 152,340,000 due to unauthorized guarantees as of December 31, 2024[65]. - The group has pledged all shares of its subsidiary Shanghai Jiayuan Baoji Property Service Co., Ltd. as collateral for bank loans[63]. - The group is facing significant uncertainties regarding its ability to continue as a going concern, as highlighted by its auditor[66]. - The group’s operations are significantly influenced by the regulatory environment of the property management industry in China, which may affect its business and financial performance[68]. - The group has sought legal advice regarding the potential financial impact of the arbitration mediation and enforcement order[61]. - The group’s management believes that sufficient provisions have been made regarding the arbitration mediation despite ongoing legal proceedings[61]. Human Resources and Training - As of December 31, 2024, the group had 5,841 full-time employees, a decrease from 5,891 employees in 2023, with total employee costs approximately RMB 386.8 million, down from RMB 406.0 million in 2023[75]. - The group conducted 5 training sessions for project management leaders, attracting 286 participants, and 6 on-site teaching activities benefiting a total of 1,300 employees[77]. - The group organized 5 systematic financial auditing training sessions with over 30 employees participating, and tailored training for new employees attracted 27 new members[77]. - A total of 123 employees participated in external industry certification training, enhancing their professional capabilities[77]. - The group maintains a comprehensive training plan for different employment levels, utilizing a four-tier training model to promote employee growth and development[80]. - The training evaluation system collects data on employee satisfaction and performance improvement to continuously optimize training programs[80]. - The group aims to build a robust training system to support employee growth and drive continuous corporate development[80]. Corporate Governance - The management team includes experienced professionals with backgrounds in finance, project management, and corporate governance, enhancing the group's strategic direction[81][82][83][84][85]. - The company has adopted a stable dividend policy to ensure sustainable returns for shareholders, but no final dividend is recommended for the year ending December 31, 2024, due to profit and cash flow considerations[96]. - The main business of the group remains property management services, value-added services, and community enhancement services in China, with no significant changes in nature during the year[94]. - The management discussion and analysis section provides insights into the group's performance, financial condition, and important factors for future development, detailed on pages 6 to 18 of the annual report[97]. - The group emphasizes its commitment to environmental, social, and governance (ESG) reporting, which will be published on both the company and stock exchange websites[98]. - The management team has extensive experience, with key members holding over 16 to 30 years in relevant industries, enhancing the group's operational capabilities[88][89]. - The company is focused on compliance and risk management, with dedicated roles for investment development and financial auditing to ensure robust governance[89][90]. - The group aims to expand its market presence and enhance service offerings through strategic initiatives and potential acquisitions[92]. - The board of directors has presented its report along with the audited consolidated financial statements for the year[93]. - The company has complied with relevant laws and regulations, with no significant non-compliance issues reported as of December 31, 2024[99]. Shareholder and Market Relations - The company has not made any significant acquisitions or disposals of subsidiaries, associates, or joint ventures for the year ending December 31, 2024[74]. - The company has not established any stock-linked agreements that could lead to the issuance of shares as of December 31, 2024[109]. - The company has not received any tax exemptions for shareholders holding its shares[106]. - The top five suppliers accounted for less than 30% of total procurement, and the top five customers accounted for less than 30% of total revenue as of December 31, 2024[113]. - The company has maintained sufficient public float as required by the listing rules as of the report date[137]. - The company has not held any treasury shares as of December 31, 2024[140]. - The company allows shareholders holding at least 10% of the paid-up capital to request a special general meeting to address specified matters[197]. Board and Director Management - The board of directors has undergone changes, with several appointments and resignations noted as of December 31, 2024[114]. - The previous chairman and CEO, Mr. Zhu, resigned on July 26, 2024, and Mr. Li was appointed as chairman on December 10, 2024[159]. - The company has maintained good corporate governance practices, emphasizing transparency, accountability, and independence[152]. - The independent non-executive directors have confirmed their independence, meeting the requirements of the listing rules[160]. - The company has established a code of conduct for securities trading to ensure compliance with insider trading regulations[154]. - The board will review its structure and composition periodically to maintain high standards of corporate governance[152]. - All directors are required to retire at least once every three years, ensuring regular re-election and accountability[161]. - The board of directors held a total of 10 meetings during the fiscal year ending December 31, 2024, exceeding the minimum requirement of four meetings per year[168]. - The board is responsible for significant matters including policy, strategy, budget, internal controls, and risk management, ensuring effective governance[165]. - The company encourages directors to seek independent professional advice when necessary to fulfill their duties[162]. Risk Management and Compliance - The company has established a risk management and internal control system to ensure effective operations, reliable financial reporting, and compliance with applicable laws and regulations[184]. - The independent auditor's fees for the year ending December 31, 2024, include RMB 2,300,000 for audit services[192]. - The company has implemented a whistleblowing policy to guide employees and third parties in reporting suspicious misconduct, ensuring confidentiality of the whistleblower's identity[193]. - The board is responsible for continuously monitoring and managing risks related to the company's ESG performance, reviewing the effectiveness of the risk management system at least annually[187]. - The company has a clear internal control authorization system to define the scope and limits of authority for risk-related decisions[188]. - The company has a robust anti-corruption policy that mandates employees to resist fraud and report any suspected fraudulent activities[195]. - The internal audit department serves as the third line of defense in risk management, independently supervising and evaluating the company's operational management[185]. - The company has established a reporting system for internal controls, detailing the responsibilities and processes for reporting and handling internal control issues[188]. - The board of directors is aware of their responsibilities in preparing the financial statements for the year ending December 31, 2024[189].

Financial Performance - Total revenue for the year ended December 31, 2024, was RMB 858.78 million, a decrease of 1.5% from RMB 868.21 million in 2023[4] - Gross profit for the same period was RMB 240.95 million, slightly down from RMB 242.08 million, resulting in a gross margin of approximately 28.1%[4] - The company reported a net profit of RMB 13.29 million for 2024, a significant recovery from a net loss of RMB 77.39 million in 2023[4] - Basic and diluted earnings per share for the year were RMB 0.01, compared to a loss per share of RMB 0.13 in the previous year[4] - The net profit attributable to the company's owners improved to RMB 8,157,000 in 2024, compared to a loss of RMB 80,914,000 in 2023, marking a turnaround in profitability[33] - The total income from the sale of subsidiaries increased significantly from RMB 250,000 in 2023 to RMB 3,150,000 in 2024, a rise of 1,200%[25] Assets and Liabilities - Total assets increased to RMB 685.03 million in 2024, up from RMB 626.81 million in 2023, reflecting a growth of approximately 9.3%[6] - Total liabilities rose to RMB 793.10 million, compared to RMB 738.62 million in 2023, indicating an increase of about 7.4%[8] - As of December 31, 2024, the group has net current liabilities of approximately RMB 305,228,000, equity deficit of approximately RMB 108,068,000, and accumulated losses of approximately RMB 539,108,000[14] - The group's current liabilities net amount was approximately RMB 305.2 million as of December 31, 2024, compared to RMB 289.1 million as of December 31, 2023[75] - The debt-to-asset ratio was 115.8% as of December 31, 2024, down from 117.8% in 2023[75] Cash Flow and Financial Management - Cash and cash equivalents increased to RMB 60.76 million from RMB 48.04 million, representing a growth of approximately 26.5%[6] - The group anticipates recognizing contract liabilities of approximately RMB 121,664,000 as revenue in the next year[14] - The board is actively exploring various alternatives for equity or other financing to improve the group's financial position[15] - The group has existing bank financing available to support its operations[14] - The management has prepared cash flow forecasts covering a period of twelve months from the reporting date, which will be continuously assessed[14] Revenue Breakdown - The total revenue for the year ended December 31, 2024, was RMB 858,780,000, a slight decrease from RMB 868,211,000 in 2023, with property management services contributing RMB 785,918,000[23] - Property management service revenue increased by approximately 3.1% to RMB 785.9 million, primarily due to an increase in average property management fees[48] - Revenue from property developer value-added services decreased by approximately 63.1% to RMB 11.3 million, attributed to a reduction in the number of service projects and new deliveries[48] - Community value-added service revenue fell by approximately 18.4% to RMB 61.6 million, mainly due to a decrease in service projects and a decline in the average spending per resident[49] Expenses and Costs - Administrative expenses increased to RMB 80.82 million from RMB 64.75 million, reflecting a rise of approximately 24.8%[4] - The total financing costs decreased from RMB 1,682,000 in 2023 to RMB 1,190,000 in 2024, a reduction of about 29.2%[26] - The company's total employee compensation decreased from RMB 406,044,000 in 2023 to RMB 386,836,000 in 2024, a decline of approximately 4.7%[28] - The current tax expense rose sharply from RMB 16,653,000 in 2023 to RMB 40,072,000 in 2024, an increase of about 140.5%[30] Operational Insights - The number of property management projects decreased by approximately 6.9% to 269 projects, with a contracted area of about 54.6 million square meters, down 5.5% from 57.8 million square meters in 2023[47] - The group aims to enhance service quality and user experience, focusing on a "customer-first" strategy to improve community satisfaction and operational efficiency[44] - The group plans to optimize its business structure and enhance its competitive edge through innovation and differentiated services[45] - The group plans to optimize project structure by eliminating low-profit and high-management difficulty projects while focusing on high-quality property acquisitions[78] Governance and Compliance - The company is committed to maintaining good corporate governance, emphasizing transparency, accountability, and independence[106] - The audit committee, consisting of three independent non-executive directors, has reviewed the accounting principles and practices adopted by the group and discussed financial reporting matters, including the annual results for the year ending December 31, 2024[111] - The company has complied with relevant laws and regulations affecting its operations, with no significant non-compliance issues reported as of December 31, 2024[99] Future Outlook - The overall market outlook for the property industry is optimistic, with expectations for high-quality development despite ongoing challenges in the capital market[46] - The company is facing industry risks related to regulatory changes in property management fees imposed by the Chinese government, which could impact its financial performance[89] Shareholder Communication - The annual general meeting is scheduled for June 7, 2025, with a suspension of share transfer registration from June 3 to June 7, 2025[102] - The company will disclose all required information on the Hong Kong Stock Exchange and its own website[112] - The report will be accessible on both the Hong Kong Stock Exchange and the company's website[112]