Financial Performance - The group's revenue for the year ended December 31, 2023, was approximately RMB 7.01 billion, a year-on-year decrease of about 1.6%; excluding non-owner value-added services, core business revenue grew by approximately 9.2%, accounting for about 94.6% of total revenue[2] - The group's gross profit was approximately RMB 1.67 billion, a year-on-year increase of about 4.0%; excluding non-owner value-added services, core business gross profit increased by approximately 5.2%, accounting for about 97.1% of total gross profit[2] - The loss attributable to the company's owners was approximately RMB 435 million, a year-on-year decrease of about 9.7%; core net profit attributable to the company's owners was approximately RMB 793 million, a year-on-year increase of about 3.0%[2] - The net cash flow generated from operating activities was approximately RMB 862 million, compared to a net cash outflow of approximately RMB 395 million in the same period last year; available funds amounted to approximately RMB 4.44 billion[2] - The total revenue for the year ended December 31, 2023, was RMB 7,009,517,000, slightly down from RMB 7,126,161,000 in 2022, representing a decrease of approximately 1.6%[18] - The company reported a net loss attributable to owners of the company of RMB (435,068,000) for the year ended December 31, 2023, compared to a net loss of RMB (481,902,000) in 2022, indicating an improvement of about 9.7%[23] - The company's total expenses for the year were RMB 6,888,967,000, down from RMB 7,906,953,000 in 2022, reflecting a decrease of about 12.8%[20] - The net loss for the year ended December 31, 2023, was approximately RMB 393.2 million, compared to a net loss of approximately RMB 462.4 million in the previous year[57] Assets and Liabilities - Non-current assets totaled approximately RMB 2.91 billion, a decrease from RMB 3.38 billion in the previous year[8] - Total assets amounted to approximately RMB 11.64 billion, down from RMB 12.49 billion in the previous year[8] - Total liabilities increased to approximately RMB 5.41 billion from RMB 4.72 billion in the previous year[9] - The company's equity attributable to owners decreased to approximately RMB 6.04 billion from RMB 7.60 billion in the previous year[8] - The carrying amount of goodwill as of December 31, 2023, is RMB 1,214.85 million, down from RMB 1,687.54 million at the beginning of the year, reflecting a goodwill impairment of approximately RMB 472.69 million[30] - The company's intangible assets as of December 31, 2023, were approximately RMB 1,601.3 million, a decrease of about RMB 501.1 million from RMB 2,102.4 million in the previous year[58] Revenue Breakdown - Revenue from property management and operation services was approximately RMB 6,158.6 million, an increase of about RMB 645.2 million (approximately 11.7%) compared to RMB 5,513.4 million in 2022[42] - The proportion of revenue from property management and operation services increased by 10.4 percentage points to approximately 87.8% due to an increase in managed building area[41] - Community living services revenue was approximately RMB 473.8 million, a decrease of about RMB 86.9 million (approximately 15.5%) from RMB 560.7 million in 2022[45] - Revenue from non-owner value-added services decreased significantly, contributing to the overall revenue decline[41] - The revenue from third-party sources increased by 10.2% to RMB 6,439.28 million, while revenue from related parties decreased by 55.6% to RMB 570.24 million[39] Dividends - The board proposed a final dividend of RMB 0.143 per share, totaling approximately RMB 437 million, which is about 55% of the core net profit attributable to the company's owners[2] - The proposed final dividend per share for the year ending December 31, 2023, is RMB 0.143, totaling approximately RMB 437.13 million, an increase from RMB 418.79 million in 2022[25] - The total dividend paid in 2023 was approximately RMB 1,098.61 million, with a per share dividend of RMB 0.137 and HKD 0.235, compared to RMB 381.64 million in 2022 with a per share dividend of RMB 0.124[24] Operational Efficiency - The average revenue per employee increased by 47% to RMB 18,000 per person per month, despite a slight decline in overall revenue, while gross profit rose by 11% year-on-year[67] - The active user rate of the company's digital tools increased from 23% in 2022 to 44% in 2023, enhancing customer satisfaction and operational efficiency[66] - The group achieved a reduction in losses exceeding RMB 40 million through various operational initiatives, with an average price increase of over 20% across multiple projects[66] Strategic Focus - The company adjusted its business direction in early 2023, focusing on sustainable development and core cities, resulting in a year-on-year revenue decline[67] - The strategic focus will remain on core cities and large clients, with an emphasis on refining competitive strategies and improving process management[68] - The company anticipates significant growth opportunities in life services, with plans to replicate successful business models in densely populated cities[68] Governance and Compliance - The company has adopted the corporate governance code as per the listing rules and has complied with all applicable provisions for the year ending December 31, 2023[77] - The audit committee consists of three independent non-executive directors, with Mr. Yao Ning serving as the chairman, who has professional accounting qualifications[78] - The audit committee has reviewed the accounting principles and practices adopted by the company and discussed matters related to audit, internal control, and risk management systems for the year ending December 31, 2023[79] - The company's auditor, PwC, has confirmed that the financial statements for the year ending December 31, 2023, are consistent with the audited consolidated financial statements[80]

Financial Performance - For the six months ended June 30, 2023, the Group achieved revenue of approximately RMB 3.396 billion, with a gross profit of approximately RMB 848 million, reflecting a decrease compared to the same period in 2022 due to a significant reduction in related party business[7]. - The Group's net profit attributable to owners was approximately RMB 340 million, with net cash flow from operating activities of approximately RMB 6.61 million, marking a turnaround from losses in the previous year[7]. - The company recorded revenue of approximately RMB 3,396.1 million for the six months ended June 30, 2023, a decrease of about RMB 592.5 million (approximately 14.9%) compared to RMB 3,988.6 million for the same period in 2022[12]. - The gross profit for the six months ended June 30, 2023, was approximately RMB 847.5 million, a decrease of about RMB 279.1 million (approximately 24.8%) compared to the same period in 2022[25]. - The net profit for the first half of 2023 was approximately RMB 364.9 million, a turnaround from a net loss of RMB 747.0 million in the same period of 2022[32]. - The total comprehensive income for the six months ended June 30, 2023, was RMB 339,925 thousand, compared to a loss of RMB 750,795 thousand for the same period in the previous year[79]. - The company reported a profit attributable to owners of RMB 339,925 thousand for the first half of 2023, a significant improvement from a loss of RMB 750,795 thousand in the same period of 2022[125]. Revenue Breakdown - Non-related party business revenue was approximately RMB 3.204 billion, representing a year-on-year growth of approximately 13%, with property management services contributing RMB 2.924 billion, an increase of about 8% compared to the previous year[7]. - Property management services accounted for 86.1% of total revenue, an increase of 18.4 percentage points year-on-year, with revenue growth of approximately 8.1% due to an increase in managed building area[14]. - Community living services revenue for the six months ended June 30, 2023, was approximately RMB 246.2 million, a decrease of about RMB 47.8 million (approximately 16.3%) compared to the same period in 2022[18]. - Non-owner value-added services revenue decreased significantly by 76.9% to RMB 203.4 million, attributed to ongoing adjustments in response to the lack of improvement in the real estate industry[14]. - Revenue from property brokerage services for the six months ended June 30, 2023, was approximately RMB 31.9 million, a decrease of about RMB 5.1 million compared to the same period in 2022[20]. - Revenue from commercial operation management services for the six months ended June 30, 2023, was approximately RMB 22.3 million, a decrease of about RMB 87.5 million compared to the same period in 2022[23]. - Revenue from convenience services for the six months ended June 30, 2023, was approximately RMB 110.6 million, a decrease of about RMB 30.8 million compared to the same period in 2022[19]. Cost and Expenses - The sales cost for the six months ended June 30, 2023, was approximately RMB 2,548.5 million, a decrease of about RMB 313.4 million (approximately 10.9%) compared to the same period in 2022[24]. - Administrative expenses for the first half of 2023 were approximately RMB 315.4 million, a decrease of RMB 63.4 million compared to RMB 378.8 million in the same period of 2022, attributed to optimized personnel structure and cost savings[28]. - Employee benefit expenses decreased to RMB 1,351,563 thousand in 2023 from RMB 1,738,201 thousand in 2022, a reduction of 22.2%[117]. Cash Flow and Liquidity - Operating cash flow for the first half of 2023 was a net inflow of approximately RMB 6.6 million, compared to a net outflow of RMB 1,008.9 million in the same period of 2022[36]. - The company’s available funds totaled approximately RMB 4,215.8 million as of June 30, 2023, a decrease of RMB 495.1 million from RMB 4,710.9 million at the end of 2022[35]. - The total cash and cash equivalents at the end of the period was RMB 3,123,176 thousand, down from RMB 3,916,103 thousand at the end of June 30, 2022[82]. - The company paid RMB (427,015) thousand in dividends to shareholders, compared to RMB (381,643) thousand in the same period last year, reflecting a 11.9% increase[82]. Market Expansion and Strategy - The Group's market expansion focused on 45 core cities, which accounted for about 80% of the managed area, with a property fee unit price reaching approximately RMB 3 per square meter per month[8]. - New annual saturated revenue from market expansion in the first half of the year was approximately RMB 200 million, with the top 5 cities accounting for 65% of the new signed contracts[8]. - The company plans to focus on 45 core cities for market expansion, emphasizing high-quality development and risk-reward balance[10]. - The company plans to allocate unutilized listing proceeds towards strategic investments and acquisitions related to property management and community operations[69]. Corporate Governance and Compliance - The company has adopted the corporate governance code as per the Stock Exchange Listing Rules and has complied with all applicable provisions as of June 30, 2023[39]. - The company emphasizes good corporate governance and regularly discusses performance and operational strategies at board meetings[39]. - The audit committee has reviewed the interim financial results for the six months ended June 30, 2023, ensuring compliance with relevant accounting standards[72]. Share Incentive Plan - The company has a share incentive plan that allows eligible participants to receive shares, with approximately 428,559,250 shares held in trust, representing about 14.02% of the issued shares as of June 30, 2023[46]. - The share incentive plan is valid for ten years from the date of the first grant, with about eight years remaining[44]. - During the six months ended June 30, 2023, 2,908,000 shares vested under the share incentive plan[54]. - The total number of shares granted to selected participants includes 2,800,000 shares for directors and 10,275,000 shares for other eligible participants[55]. Trade Receivables and Impairment - The total expected loss provision for trade and other receivables as of June 30, 2023, was RMB 1,802.68 million, up from RMB 1,777.08 million at the beginning of the year, indicating a slight increase[98]. - The expected loss provision for trade receivables (including receivables from related parties) totaled RMB 222.93 million, compared to RMB 148.22 million as of December 31, 2022, reflecting an increase of approximately 50%[93]. - The expected loss rates for third-party trade receivables as of June 30, 2023, were 4% for 1 year, 19% for 1 to 2 years, and 72% for over 5 years, indicating a significant increase in risk assessment compared to the previous year[93]. - The management believes that other receivables have low credit risk due to the strong ability of issuers to fulfill cash flow obligations[95]. Assets and Liabilities - As of June 30, 2023, total assets amounted to RMB 12,513,503 thousand, a slight increase from RMB 12,493,457 thousand as of December 31, 2022, reflecting a growth of approximately 0.16%[76]. - Total liabilities increased to RMB 4,796,291 thousand from RMB 4,724,428 thousand, marking an increase of about 1.52%[77]. - The company's equity attributable to owners decreased from RMB 7,769,029 thousand to RMB 7,717,212 thousand, a decline of approximately 0.67%[77]. - The total amount of other receivables was RMB 979,831, a decrease from RMB 1,030,203 as of December 31, 2022[139]. Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[79]. - The company expects revenue growth rates for its cash-generating units to range from 7.77% to 13.56% for the first unit and 3.65% to 18.56% for the second unit[134].

Financial Performance - The group's revenue for the six months ended June 30, 2023, was approximately RMB 3.396 billion, a decrease of about 15% compared to the same period last year[2]. - Property management service revenue was approximately RMB 2.924 billion, an increase of about 8% year-on-year[2]. - The group's gross profit was approximately RMB 848 million, down about 25% year-on-year, while property management service gross profit increased by about 4% to RMB 726 million[2]. - The net profit attributable to the owners of the company was approximately RMB 340 million, compared to a loss of RMB 751 million in the same period last year[2]. - Total revenue for the six months ended June 30, 2023, was RMB 3,252,371 thousand, a decrease of 13.9% compared to RMB 3,777,898 thousand for the same period in 2022[13]. - Basic earnings per share for the six months ended June 30, 2023, were RMB 0.11, compared to a loss of RMB 0.24 in the same period of 2022[20]. - The company reported a profit attributable to owners of RMB 339,925 thousand for the six months ended June 30, 2023, recovering from a loss of RMB 750,795 thousand in the previous year[20]. - For the six months ended June 30, 2023, the group's net profit was approximately RMB 364.9 million, a significant improvement from a net loss of approximately RMB 747.0 million for the same period in 2022[48]. Revenue Breakdown - Revenue from property management services was approximately RMB 2,924.1 million, an increase of about RMB 220.0 million (approximately 8.1%) compared to RMB 2,704.0 million for the same period in 2022[31]. - Revenue from non-owner value-added services decreased significantly by approximately RMB 677.2 million (approximately 76.9%) to RMB 203.4 million from RMB 880.6 million in the previous year[29]. - Community service revenue for the six months ended June 30, 2023, was approximately RMB 110.6 million, a decrease of about RMB 30.8 million (approximately 21.8%) compared to the same period in 2022[35]. - Real estate brokerage service revenue was approximately RMB 31.9 million, a decrease of about RMB 5.1 million (approximately 13.8%) compared to the same period in 2022[36]. - Home service revenue was approximately RMB 29.6 million, a decrease of about RMB 13.1 million (approximately 30.5%) compared to the same period in 2022[36]. - Non-owner value-added service revenue was approximately RMB 203.4 million, a decrease of about RMB 677.2 million (approximately 76.9%) compared to the same period in 2022[37]. Cash Flow and Financial Position - The net cash flow generated from operating activities was approximately RMB 6.61 million, a significant improvement from a net cash outflow of RMB 1.009 billion in the same period last year[2]. - The group's available funds amounted to approximately RMB 4.216 billion, which includes cash and cash equivalents, restricted funds, and bank deposits maturing in over three months[2]. - The total assets of the group as of June 30, 2023, were approximately RMB 12.514 billion, compared to RMB 12.493 billion as of December 31, 2022[6]. - The total liabilities of the group were approximately RMB 4.796 billion, compared to RMB 4.724 billion as of December 31, 2022[7]. - The group's cash flow from operating activities for the six months ended June 30, 2023, was a net inflow of approximately RMB 6.6 million, a significant improvement from a net outflow of approximately RMB 1,008.9 million for the same period in 2022[52]. - The group's trade and other receivables as of June 30, 2023, amounted to approximately RMB 4.911 billion, an increase of approximately RMB 542.3 million compared to December 31, 2022[49]. - The group's trade and other payables as of June 30, 2023, were approximately RMB 2.749 billion, a slight increase of approximately RMB 7.9 million compared to December 31, 2022[50]. Cost and Expenses - Total expenses for the six months ended June 30, 2023, were RMB 2,940,310 thousand, down 42.5% from RMB 5,120,416 thousand in the same period of 2022[17]. - Employee benefit expenses decreased to RMB 1,351,563 thousand from RMB 1,738,201 thousand, reflecting a reduction of 22.2%[17]. - Administrative expenses for the six months ended June 30, 2023, were approximately RMB 315.4 million, a decrease of about RMB 63.4 million compared to RMB 378.8 million for the same period in 2022[44]. - Sales and marketing expenses for the six months ended June 30, 2023, were approximately RMB 38.0 million, a decrease of about RMB 8.3 million compared to RMB 46.3 million for the same period in 2022[45]. - Total sales cost for the six months ended June 30, 2023, was approximately RMB 2,548.5 million, a decrease of about RMB 313.4 million (approximately 10.9%) compared to the same period in 2022[40]. - Gross profit for the six months ended June 30, 2023, was approximately RMB 847.5 million, a decrease of about RMB 279.1 million (approximately 24.8%) compared to the same period in 2022[41]. - Gross margin for the six months ended June 30, 2023, was approximately 25.0%, a decrease of about 3.2 percentage points compared to 28.2% for the same period in 2022[41]. Business Operations and Strategy - The area under management as of June 30, 2023, was approximately 263 million square meters, with residential properties accounting for 82%[31]. - The company plans to continue adjusting its non-owner value-added services in response to the lack of significant improvement in the real estate industry[30]. - The market expansion focused on 45 core cities, which accounted for approximately 80% of the group's managed construction area, with property fees in these cities reaching about RMB 3 per square meter per month[56]. - In the first half of the year, the group achieved a new annual saturated income of approximately RMB 200 million from market expansion, with the top 5 cities contributing 65% of the new signed contracts[56]. - The overall penetration rate of community convenience services in core cities increased by about 1.1 percentage points, and the total value of core resources rose by approximately 124% year-on-year[57]. - The average monthly employee efficiency in real estate brokerage improved by about 60% compared to 2022, while the share of existing home business revenue increased to approximately 48%[57]. - The group emphasized digital transformation, focusing on smart services and management, with significant investments in remote monitoring systems and management dashboards[57]. - For the second half of 2023, the group plans to continue focusing on high-quality development in the 45 core cities and strengthen resource integration and public relations governance[58]. - The group will maintain a sustainable business development goal, focusing on core quality cities and optimizing the main linkage mechanism to leverage property advantages[58]. Governance and Compliance - The company has adopted the corporate governance code and has complied with all applicable provisions during the reporting period[60]. - The Audit Committee consists of three independent non-executive directors, chaired by Mr. Yao Ning, who is a qualified accountant[61]. - The Audit Committee reviewed the company's accounting principles and practices, discussing matters related to audit, internal control, and risk management systems for the six months ending June 30, 2023[61]. - The independent auditor, PwC, conducted a review of the interim financial results for the six months ending June 30, 2023, in accordance with the relevant standards[61]. - The interim report for the six months ending June 30, 2023, will be sent to shareholders and published on the company's website at an appropriate time[62]. - The board of directors includes Mr. Wang Mengde as the chairman and other executive and non-executive directors[63].

Financial Performance - Total revenue for 2022 was RMB 7,126,161, a decrease from RMB 7,903,674 in 2021, representing a decline of approximately 9.8%[7] - Gross profit for 2022 was RMB 1,604,439, down from RMB 2,490,970 in 2021, indicating a decrease of about 35.6%[7] - The company reported a net loss of RMB (462,396) for 2022, compared to a profit of RMB 1,358,494 in 2021, marking a significant turnaround[7] - Basic loss per share for 2022 was RMB (0.16), compared to earnings of RMB 0.41 per share in 2021[7] - The gross profit margin decreased from approximately 31.5% to about 22.5%, a decline of about 9.0 percentage points[26] - The company's net loss for the year ended December 31, 2022, was approximately RMB 462.4 million, compared to a net profit of approximately RMB 1,358.5 million for the year ended December 31, 2021, indicating a significant decline in profitability[34] - Core net profit attributable to the company's owners for the year ended December 31, 2022, was approximately RMB 762.8 million, down from RMB 1,401.8 million in the previous year, primarily due to a reduction in non-owner value-added services[34] Assets and Liabilities - Total assets as of December 31, 2022, were RMB 12,493,457, down from RMB 13,468,266 in 2021, reflecting a decrease of approximately 7.2%[8] - Total equity decreased to RMB 7,769,029 in 2022 from RMB 8,672,987 in 2021, a decline of about 10.4%[8] - Total liabilities were RMB 4,724,428 in 2022, slightly down from RMB 4,795,279 in 2021, showing a decrease of around 1.5%[8] - The total trade receivables increased from approximately RMB 4,037.1 million as of December 31, 2021, to approximately RMB 5,050.0 million as of December 31, 2022, reflecting a rise of approximately RMB 1,012.9 million[35] - The group's cash and bank deposits totaled approximately RMB 3,990.1 million as of December 31, 2022, down by approximately RMB 1,388.3 million from RMB 5,378.4 million as of December 31, 2021, mainly due to dividend payments and share repurchases[38] Revenue Streams - The company achieved revenue of approximately RMB 7.126 billion and a gross profit of about RMB 1.604 billion for the year ended December 31, 2022, with a loss attributable to shareholders of approximately RMB 0.482 billion[9] - Property management service revenue increased to approximately RMB 5,365.3 million, an increase of about RMB 826.8 million (approximately 18.2%) from RMB 4,538.5 million in the previous year, driven by an increase in managed area[16] - Non-owner value-added service revenue significantly decreased to approximately RMB 1,052.1 million, down by about RMB 1,629.6 million (approximately 60.8%) from RMB 2,681.7 million in the previous year, due to ongoing challenges in the real estate industry[19] - Community living service revenue increased to approximately RMB 560.7 million, reflecting a growth of about RMB 53.3 million (approximately 10.5%) compared to RMB 507.4 million in the previous year[21] Strategic Focus and Future Plans - The company continues to focus on high-quality property services and aims to strengthen its market position in mid-to-high-end properties[2] - Future strategies include expanding property management and comprehensive commercial operational services to enhance overall service quality[2] - The company plans to focus on high-quality development strategies in 2023, emphasizing quality service and operational capabilities in core cities[13] - The company aims to enhance its core product coverage in key cities while avoiding a scattergun approach to business expansion[13] Corporate Governance - The company has maintained compliance with the Hong Kong Stock Exchange regulations, with no new disclosures required since the interim report as of June 30, 2022[48] - The board consists of eight directors, including two executive directors, three non-executive directors, and three independent non-executive directors[52] - The company emphasizes the importance of good corporate governance and has established internal reporting systems to monitor operations and business development[51] - The board has established mechanisms to encourage independent opinions and constructive questioning during meetings[52] Shareholder Information - The company declared a dividend of RMB 0.137 per share for 2022, an increase from RMB 0.124 in 2021[7] - The board proposed a final dividend of RMB 0.137 per share, totaling approximately RMB 419 million, subject to shareholder approval at the annual general meeting[91] - The largest customer, Sunac Group, accounted for approximately 18.0% of total revenue for the year ended December 31, 2022, while the top five customers contributed 18.8%[93] Employee and Community Engagement - A total of over 1,600 training sessions were conducted in 2022, benefiting more than 20,000 employees through various activities[12] - Charitable donations made by the group for the year ended December 31, 2022, were approximately RMB 1,428,500, compared to RMB 533,000 in 2021[143] Risk Management and Compliance - The company has established risk assessment standards to identify and evaluate major risks that could impact business objectives, including environmental, social, and governance risks[77] - The board reviews the effectiveness of the risk management and internal control systems annually, with a focus on resource adequacy and the quality of internal audit functions[78] - The company has achieved ISO 37001 certification for its anti-bribery management system, reinforcing its commitment to ethical business practices[79] Financial Management - The net cash used in operating activities for the year ended December 31, 2022, was RMB 394,808,000, compared to RMB 386,849,000 in 2021, indicating a slight increase in cash outflow[165] - The company paid dividends to shareholders amounting to RMB 381,643,000 in 2022, an increase from RMB 180,003,000 in 2021[166] - The company reported a total comprehensive loss of RMB 462,396,000 for the year ended December 31, 2022[164]

Financial Performance - The group's revenue for the year ended December 31, 2022, was approximately RMB 7.126 billion, a decrease of about 9.8% year-on-year[2]. - The group's gross profit was approximately RMB 1.604 billion, down approximately 35.6% year-on-year; excluding non-owner value-added services, the gross profit of core business remained stable year-on-year, with the gross profit margin of core business increasing to about 95.9%[2]. - The loss attributable to the company's owners was approximately RMB 482 million, while the core net profit attributable to the company's owners was approximately RMB 763 million, a year-on-year decrease of about 45.6%[2]. - Total revenue for the year ended December 31, 2022, was RMB 7,126,161,000, a decrease from RMB 7,903,674,000 in 2021, representing a decline of approximately 9.8%[16]. - Revenue from property management services was RMB 983,792,000 for 2022, down from RMB 4,538,512,000 in 2021, indicating a significant decrease of approximately 78.3%[16]. - Revenue from non-owner value-added services decreased to RMB 233,924,000 in 2022 from RMB 2,255,073,000 in 2021, a decline of about 89.6%[16]. - The company reported a net loss of RMB 178,657,000 for the year ended December 31, 2022, compared to a profit of RMB 426,481,000 in 2021[20]. - The company reported a net loss of approximately RMB 462.4 million for the year ended December 31, 2022, compared to a net profit of approximately RMB 1,358.5 million for the year ended December 31, 2021[51]. Dividends and Shareholder Returns - The board proposed a final dividend of RMB 0.137 per share, totaling approximately RMB 419 million, which is about 55% of the core net profit attributable to the company's owners[2]. - The proposed final dividend per share for the year ended December 31, 2022, is RMB 0.137, totaling approximately RMB 418.79 million, compared to RMB 0.124 per share in 2021, totaling RMB 381.73 million[24]. - The company plans to present the dividend proposal at the upcoming annual general meeting, reflecting the number of shares approved in the consolidated financial statements[23]. - The final dividend payment is expected to be made in cash around June 15, 2023, based on the exchange rate published by the People's Bank of China[63]. Operational Metrics - As of December 31, 2022, the group's contracted construction area was approximately 393 million square meters, with the managed construction area being approximately 244 million square meters, of which the managed area from third parties accounted for about 37%[2]. - The total managed building area as of December 31, 2022, was approximately 244 million square meters, representing a growth of about 13.4% from approximately 215 million square meters in 2021[31]. - The company signed new contracts totaling approximately RMB 1.08 billion in 2022, with projects over RMB 10 million accounting for about 32% of the total, an increase of approximately 12 percentage points from 2021[59]. - Community service revenue grew approximately 11% year-on-year, focusing on three core categories: daily cleaning, appliance cleaning, and home maintenance[59]. Cost and Expenses - Employee benefit expenses totaled RMB 3,132,944,000 in 2022, a decrease from RMB 3,223,597,000 in 2021, reflecting a reduction of approximately 2.8%[19]. - Sales costs for the year ended December 31, 2022, were approximately RMB 5,521.7 million, an increase of about RMB 109.0 million (approximately 2.0%) from RMB 5,412.7 million in 2021[41]. - Administrative expenses decreased from approximately RMB 749.2 million for the year ended December 31, 2021, to approximately RMB 743.7 million for the year ended December 31, 2022, a reduction of about RMB 5.5 million[46]. - Sales and marketing expenses increased by approximately RMB 30.8 million (approximately 44.8%) to about RMB 99.5 million for the year ended December 31, 2022, compared to approximately RMB 68.7 million for the year ended December 31, 2021[47]. Asset and Liability Management - Trade receivables as of December 31, 2022, amounted to RMB 5,050.0 million, an increase from RMB 4,037.1 million in 2021[26]. - Trade payables increased from approximately RMB 712.9 million as of December 31, 2021, to approximately RMB 967.5 million as of December 31, 2022, an increase of about RMB 254.6 million[53]. - Total cash and bank deposits decreased from approximately RMB 5,378.4 million as of December 31, 2021, to approximately RMB 3,990.1 million as of December 31, 2022, a decrease of about RMB 1,388.3 million[54]. - The company's current ratio was approximately 2.0 times as of December 31, 2022, compared to approximately 2.2 times as of December 31, 2021[54]. Governance and Compliance - The company has adopted the corporate governance code and has complied with all applicable provisions as of December 31, 2022[69]. - The audit committee, consisting of three independent non-executive directors, reviewed the financial reporting procedures and internal controls for the year ended December 31, 2022[70]. - The group's auditor, PwC, confirmed that the financial figures in the announcement are consistent with the audited financial statements for the year ended December 31, 2022[71]. Future Outlook and Strategy - The company plans to enhance service quality and operational capabilities in 2023, focusing on high-end residential service quality and professional operational capabilities in non-residential sectors[61]. - The company aims to deepen its focus on core cities for market expansion while ensuring quality control and maintaining a steady growth rate[61]. - The company emphasizes high-quality development as its core strategy in 2023, aligning with industry policies and standards for continuous improvement[61]. - The company has implemented digital tools in community services to enhance operational efficiency and customer experience[57]. Employee Development - The company has established a comprehensive internal training program for employees to enhance their professional skills and service standards[67]. - The company has implemented ISO 45001:2018 occupational health and safety management system to improve workplace safety awareness among employees[67].

Financial Performance - For the year ended December 31, 2021, the company achieved revenue of approximately RMB 7,903.67 million, representing a year-on-year growth of approximately 70.9%[8] - The profit attributable to the owners of the company was approximately RMB 1,276.33 million, reflecting a year-on-year increase of 113.9%[8] - The gross profit margin improved by 3.9 percentage points to approximately 31.5%, while the net profit margin increased by 3.8 percentage points to approximately 17.2%[10] - The group's total revenue for the year ended December 31, 2021, was approximately RMB 7,903.7 million, an increase of about RMB 3,278.5 million (approximately 70.9%) compared to RMB 4,625.2 million for the year ended December 31, 2020[16] - The gross profit for the year ended December 31, 2021, was approximately RMB 2,491.0 million, an increase of about RMB 1,215.3 million (approximately 95.3%) from RMB 1,275.7 million in 2020, with a gross margin of 31.5%[28] - The net profit for the year ended December 31, 2021, was approximately RMB 1,358.5 million, with a net profit margin of 17.2%, an increase of about 118.5% compared to RMB 621.6 million in 2020[35] - Basic earnings per share for the year were RMB 0.41, compared to RMB 0.25 in the previous year, reflecting a 64% increase[151] Revenue Growth and Segmentation - Property management service revenue reached approximately RMB 4,538.5 million, an increase of about RMB 1,765.0 million (approximately 63.6%) year-on-year, driven by an increase in managed building area[18] - Community living service revenue grew by approximately 187.9%, with its revenue contribution rising to 6.4% of total revenue, and a gross margin of approximately 45.6%[12] - Non-owner value-added services revenue reached approximately RMB 2,681.7 million in 2021, up by about RMB 1,009.0 million (approximately 60.3%) from RMB 1,672.7 million in 2020[21] - Community living services revenue increased to approximately RMB 507.4 million, representing a growth of about RMB 331.1 million (approximately 187.9%) compared to RMB 176.2 million in 2020[23] Operational Expansion - As of December 31, 2021, the total managed building area was approximately 215 million square meters, a growth of approximately 58.9% compared to December 31, 2020[10] - The contracted building area reached approximately 358 million square meters, an increase of approximately 35.9% year-on-year[10] - The area acquired through market expansion grew by approximately 210.8% to 36.12 million square meters, surpassing the area acquired from the parent company for the first time[10] - The company is actively expanding into non-residential sectors, achieving rapid replication in commercial, public construction, venues, and schools[10] Strategic Acquisitions - The group acquired Rongle Times Group in 2021, significantly increasing its commercial operation management service revenue due to the integration of high-quality commercial management projects[16] - The company completed the acquisition of 80% of Zhangtai Service Group for RMB 730 million, enhancing its business scale and competitiveness in Guangxi Zhuang Autonomous Region[84] - The company acquired 100% equity of Rongle Times (Hainan) Commercial Management Co., Ltd. for RMB 1.8 billion, with a profit commitment of no less than RMB 140 million for 2022[86] Financial Position and Assets - As of December 31, 2021, the total bank deposits and cash of the group amounted to approximately RMB 5,378.4 million, a decrease of about RMB 4,000.2 million compared to RMB 9,378.6 million on December 31, 2020[39] - The total assets increased to RMB 13,468,266 thousand in 2021, up from RMB 12,959,461 thousand in 2020, representing a growth of approximately 3.93%[152] - The company's equity attributable to owners decreased to RMB 8,501,525 thousand in 2021 from RMB 9,679,874 thousand in 2020, a decline of about 12.09%[152] - The company's goodwill amounted to RMB 1,687.54 million, representing approximately 12.5% of total assets[143] Governance and Compliance - The company has adopted the corporate governance code as per the listing rules, ensuring compliance with all applicable provisions[54] - The board consists of nine members, including three executive directors, three non-executive directors, and three independent non-executive directors, responsible for overseeing the company's strategic development and financial performance[57] - The company emphasizes the importance of good corporate governance and has implemented regular discussions on performance and operational strategies among board members[54] - The company has established a compliance manual and code of conduct applicable to employees and directors to ensure adherence to governance standards[54] Risk Management - The company has established a clear risk management structure with defined responsibilities and functions[75] - The company has adopted a risk management program to identify, assess, and address major business risks, ensuring effective control of risk matters through regular audits and training[78] - The board of directors conducted an annual review of the risk management and internal control systems, finding them effective and sufficient for the fiscal year ending December 31, 2021[79] Shareholder Engagement and Dividends - The board proposed a final dividend of RMB 0.124 per share, totaling approximately RMB 381.7 million, subject to shareholder approval at the annual general meeting[92] - The company emphasizes effective communication with shareholders, maintaining ongoing dialogue through annual general meetings and other forums[81] - Shareholders holding at least 10% of the paid-up capital have the right to request the board to convene a special general meeting within two months[82] Employee and Community Engagement - As of December 31, 2021, the group had 38,146 employees, an increase from 27,909 employees in 2020, with total employee costs amounting to approximately RMB 3.22 billion[135] - The group made charitable donations totaling approximately RMB 533,000 for the year ended December 31, 2021, compared to zero in 2020[135] Future Outlook - The company has set a future outlook with a revenue guidance of $1.5 billion for the next fiscal year, indicating a growth target of 25%[46] - The company plans to expand its market presence by entering three new regions in the upcoming year, aiming for a 10% market share in these areas[46] - The management team emphasized the importance of cost management, targeting a reduction in operational costs by 5% over the next year[46]