Financial Performance - For the year ended December 31, 2024, the total revenue of Colour Life Services Group was approximately RMB 1,951.3 million, representing an increase from RMB 1,523.2 million in 2023, which is a growth of about 28.2%[3] - The gross profit for the year was approximately RMB 410.0 million, down from RMB 454.2 million in 2023, indicating a decrease of about 9.7%[3] - The net profit attributable to shareholders for the year was approximately RMB 19.0 million, compared to RMB 23.0 million in 2023, reflecting a decline of about 17.4%[6] - The company reported a total comprehensive income of RMB 36.3 million for the year, compared to RMB 28.5 million in 2023, indicating an increase of about 27.0%[6] - The total revenue for property management services for the year ending December 31, 2024, is RMB 1,854,271,000, an increase from RMB 1,427,599,000 in 2023, representing a growth of approximately 30%[17] - The total revenue from value-added services for the year ending December 31, 2024, is RMB 97,050,000, compared to RMB 95,580,000 in 2023, showing a slight increase of about 1.5%[17] - The total service revenue for the year ending December 31, 2024, is RMB 1,951,321,000, up from RMB 1,523,179,000 in 2023, indicating an overall growth of approximately 28%[17] - The company reported a net profit of RMB 20,945,000 for the year ending December 31, 2024, down from RMB 29,696,000 in 2023, reflecting a decrease of about 29%[23] Assets and Liabilities - As of December 31, 2024, the group's debt-to-asset ratio was approximately 24.3%, slightly up from 23.7% in 2023[2] - The total assets as of December 31, 2024, were approximately RMB 4,362.4 million, compared to RMB 4,243.8 million in 2023, showing an increase of about 2.8%[8] - The total liabilities as of December 31, 2024, were approximately RMB 1,415.3 million, compared to RMB 1,366.1 million in 2023, which is an increase of about 3.6%[8] - The company had no interest-bearing debt as of December 31, 2024[2] - The total cash balance, including pledged bank deposits, was approximately RMB 1,049.2 million as of December 31, 2024, representing an increase of about 5.1% from RMB 998.2 million as of December 31, 2023[86] - The company had a current ratio of approximately 3.1 times as of December 31, 2024, consistent with the ratio as of December 31, 2023[86] - The company had no interest-bearing debt as of December 31, 2024, resulting in a net debt-to-equity ratio of zero[87] Employee and Operational Metrics - The total employee costs for the year ending December 31, 2024, amount to RMB 642,951,000, an increase from RMB 522,564,000 in 2023, which is an increase of approximately 23%[25] - The total number of employees decreased to approximately 10,191 as of December 31, 2024, down from 11,156 as of December 31, 2023[89] - The company employed over 24,808 on-site personnel to provide property management services as of December 31, 2024[48] Revenue Sources - Property management service revenue grew by 29.9%, reaching RMB 1,854.3 million, accounting for 95.0% of total revenue[62] - Value-added services revenue slightly increased by 1.5% to RMB 97.1 million, representing 5.0% of total revenue[62] - The company provides property management services under two models: a fixed fee model and a commission-based model, with the commission typically being around 10%[51][50] Community and Service Development - The company aims to create a community atmosphere through various activities, fostering relationships among residents and enhancing brand trust[35] - The online platform "Cai Zhi Yun" facilitates property management fee payments and complaints, increasing convenience for residents and deepening engagement with the company[36] - The company has upgraded its service platform to include AI-driven customer service features, enhancing service efficiency and quality[33] - The company is implementing smart community transformations, including remote monitoring and digital management platforms, to improve service quality and efficiency[58] Financial Governance and Compliance - The board of directors did not recommend a final dividend for the year ended December 31, 2024, consistent with the previous year[90] - The company has complied with all provisions of the Corporate Governance Code as of December 31, 2024, following the appointment of a new independent non-executive director[95] - The annual results for the year ended December 31, 2024, were reviewed by the audit committee consisting of three independent non-executive directors[99]

Financial Performance - For the first half of 2024, the company achieved a revenue of RMB 974.5 million and a net profit of approximately RMB 33.1 million, with a net profit attributable to shareholders of RMB 24.4 million[8]. - Total revenue increased by 28.5% to approximately RMB 974.5 million, up from RMB 758.3 million in the same period last year[47]. - Property management services accounted for 95.4% of total revenue, generating RMB 929.8 million, while value-added services contributed 4.6% with RMB 44.6 million[48]. - The company reported a profit of RMB 24,380,000, a decrease of 20.6% compared to RMB 30,719,000 for the same period in 2023[104]. - Basic and diluted earnings per share for the period were both RMB 1.64, down from RMB 2.07 in the previous year[83]. - The gross profit for property management services decreased by approximately 4.5% to about RMB 183.9 million, with a gross margin decline from 26.4% to 19.8%[56]. - Overall gross profit was approximately RMB 220.3 million, a slight increase of 0.8% from RMB 218.5 million in the same period of 2023[55]. - The company experienced a loss from joint ventures of RMB 31,599 thousand, compared to a profit of RMB 5,027 thousand in the previous year[82]. Operational Highlights - As of June 30, 2024, the total contracted management area reached 328 million square meters, serving 1,931 communities across 120 cities, benefiting over 7 million homeowners[8]. - The company has completed 220 quality improvement projects across 22 cities, with an investment of 92.36 million yuan planned for the year[11]. - The company organized over 600 community activities, reaching more than 5 million homeowners[16]. - The company has implemented a two-and-a-half-tier management structure to enhance market responsiveness and resource allocation[19]. - The company has formed a strategic partnership with China Everbright Retirement Health Industry Development Co., aiming to develop community home care services and smart elderly care services[15]. Strategic Initiatives - The company has focused on four core strategies: service optimization, cost control, efficiency enhancement, and technological innovation to navigate the challenging economic environment[8]. - The company emphasizes the importance of internal strength to withstand market challenges and aims to capture opportunities amid changes[8]. - The company is committed to enhancing service quality and meeting higher standards for goods and services as mandated by new regulations[8]. - The community elderly care encouragement policies and the transition to high-quality development of community value-added services indicate new growth directions for the company[8]. - The company aims to create a community service online platform, "Cai Zhi Yun," to facilitate property fee payments and enhance resident convenience[24]. Technological Advancements - The introduction of digital employees has resulted in a 75% increase in work efficiency and a 50% reduction in costs, freeing up 45% of labor resources[10]. - The "Eagle Eye" platform, utilizing cloud computing and AI analysis, has improved employee attendance management and operational efficiency[10]. - The company has processed over 2.4 million images using AI technology, significantly enhancing service capabilities[10]. - The company is focusing on enhancing service quality and efficiency through the integration of IoT, big data, and AI technologies[23]. - The company has upgraded its property management system to a digital control platform, adding smart customer service features[23]. Community Engagement - The company emphasizes a customer-centric approach, integrating customer feedback into service improvements to enhance community engagement[13]. - The introduction of various insurance products addresses community safety needs, expanding the service offerings to residents[14]. - The company has launched a community service initiative focused on helping elderly individuals in need, delivering care packages to 30 selected elderly individuals[18]. - The company has engaged in various community welfare activities, including building shelters for stray cats, benefiting over 5,000 stray cats[18]. Financial Position - Cash balance as of June 30, 2024, was approximately RMB 728.7 million, down from RMB 947.9 million as of December 31, 2023[59]. - The group's total liabilities increased to RMB 693,603 thousand as of June 30, 2024, compared to RMB 589,879 thousand as of December 31, 2023, indicating a rise of 17.6%[123]. - The company's total receivables, including trade and other receivables, amounted to RMB 2,508,089 thousand as of June 30, 2024, compared to RMB 2,112,265 thousand as of December 31, 2023, reflecting a significant increase of 18.7%[116]. - The company reported a significant increase in cash outflow related to related party loans, amounting to RMB (10,312) thousand for the six months ended June 30, 2024, compared to RMB (27,389) thousand in the same period of 2023[90]. - The company’s total equity remained stable at RMB 120,750,000 compared to December 31, 2023[127]. Governance and Compliance - The company has maintained compliance with all corporate governance code provisions as of June 30, 2024[64]. - The independent non-executive director, Yu Shan, was appointed on March 15, 2024, restoring compliance with listing rules[64]. - The company has not granted any stock options under the stock option plan for the six months ending June 30, 2024[71]. - The company has not adopted a new stock option plan as the current plan expires on June 10, 2024[71].

Financial Performance - Total revenue for the six months ended June 30, 2024, was approximately RMB 974.5 million, with a gross profit of RMB 220.3 million and a net profit of RMB 33.1 million[1] - Service revenue increased to RMB 974.488 million in the first half of 2024, up from RMB 758.332 million in the same period of 2023[2] - Net profit attributable to the company's owners was RMB 24.38 million, a decrease from RMB 30.719 million in the same period of 2023[3] - Basic earnings per share decreased to RMB 1.64 cents in the first half of 2024 from RMB 2.07 cents in the same period of 2023[3] - Total revenue for the period ending June 30, 2024, was RMB 974,488 thousand, with property management services contributing RMB 929,842 thousand and value-added services contributing RMB 44,646 thousand[10] - The company's profit for the period ending June 30, 2024, was RMB 24,380 thousand, down from RMB 30,719 thousand in the same period in 2023[17] - Total revenue increased by 28.5% from RMB 758.3 million in 2023 to RMB 974.5 million in 2024[40] - Property management services revenue grew by 27.7% to RMB 929.8 million, accounting for 95.4% of total revenue[41] - Value-added services revenue surged by 47.7% to RMB 44.6 million, representing 4.6% of total revenue[41] - Property management service revenue increased by 27.7% to RMB 929.8 million, driven by a 34.8% growth in revenue from the commission-based model, reaching RMB 906.1 million[42] - Value-added service revenue grew by 47.7% to RMB 44.6 million, with sales and leasing assistance revenue surging by 346.7% to RMB 24.6 million[43] - Overall gross profit margin decreased by 6.2 percentage points to 22.6%, with property management service gross margin dropping to 19.8% from 26.4%[45][46] - Value-added service gross profit increased by 43.3% to RMB 36.4 million, though the gross margin slightly declined to 81.5% from 83.9%[47] - Other losses decreased significantly by RMB 39.0 million to RMB 2.5 million, primarily due to reduced losses from subsidiary disposals[48] Financial Position - The company's asset-liability ratio as of June 30, 2024, was approximately 23.8%, remaining stable compared to 23.7% at the end of 2023[1] - The company had no interest-bearing debt balance as of June 30, 2024[1] - Trade receivables increased significantly to RMB 910.461 million as of June 30, 2024, compared to RMB 651.808 million at the end of 2023[4] - Bank balances and cash decreased to RMB 728.701 million as of June 30, 2024, from RMB 947.904 million at the end of 2023[4] - Total assets increased to RMB 4,512.503 million as of June 30, 2024, compared to RMB 4,483.229 million at the end of 2023[5] - Trade receivables increased to RMB 1,111,483 thousand as of June 30, 2024, compared to RMB 858,322 thousand as of December 31, 2023, with a credit loss provision of RMB 201,022 thousand and RMB 206,514 thousand respectively[18] - Trade payables increased to RMB 910,461 thousand as of June 30, 2024, compared to RMB 651,808 thousand as of December 31, 2023[18] - Trade receivables increased by 39.7% to RMB 910.5 million, reflecting higher unsettled property management fees[55] - Bank balances and cash decreased to RMB 728.7 million from RMB 947.9 million at the end of 2023[54] - Trade payables increased to approximately RMB 500.3 million as of June 30, 2024, up by RMB 121.4 million from RMB 378.9 million on December 31, 2023, mainly due to the increase in communities managed under the lump-sum system[57] - Other payables and accrued liabilities decreased to approximately RMB 193.3 million as of June 30, 2024, from RMB 211.0 million on December 31, 2023[57] - The company's total cash (including pledged bank deposits) was approximately RMB 789.3 million as of June 30, 2024, down from RMB 998.2 million on December 31, 2023[59] - The company's current ratio (current assets/current liabilities) was approximately 3.1x as of June 30, 2024, compared to 3.0x on December 31, 2023[59] - The company had no interest-bearing liabilities as of June 30, 2024, and thus no net gearing ratio was presented[60] - The company's issued share capital remained unchanged at approximately 1,487,526,000 shares as of June 30, 2024, with a share capital of approximately RMB 120.8 million[58] Revenue Breakdown - Revenue from property management services under the "包干制" model increased to RMB 906,129 thousand in 2024, up from RMB 672,135 thousand in 2023[10][11] - Revenue from value-added services, including online promotion and sales/leasing assistance, reached RMB 44,646 thousand in 2024, compared to RMB 30,229 thousand in 2023[10][11] - The company's property management services are provided under both the fixed-fee and commission-based models, with the latter retaining approximately 10% of the management fees as revenue[32] - The company offers pre-delivery services to property developers, with fees calculated based on the number and positions of deployed staff[33] - The company provides advisory services to regional property management companies, potentially generating additional revenue through value-added services[34] - The company's value-added services include online promotion, sales and leasing assistance, engineering services, and other services such as shopping assistance and energy management[35][39] - The company's online promotion services generate revenue through commissions from product and service suppliers using its "Colorful Life" platform[36] Operational Metrics - The company's contracted managed gross floor area reached 328.34 million square meters as of June 30, 2024, with 1,931 communities under management[22] - The company's revenue-generating contracted managed gross floor area reached 168.42 million square meters as of June 30, 2024[22] - The company managed a total of 1,930 communities with a combined gross floor area of approximately 328.30 million square meters as of June 30, 2024[26] - The total contracted gross floor area managed by the company reached 328.34 million square meters as of June 30, 2024[25] - The company's total managed gross floor area in South China (excluding Shenzhen) was 56,601 thousand square meters, covering 404 communities as of June 30, 2024[25] - The company's total managed gross floor area in East China was 98,487 thousand square meters, covering 642 communities as of June 30, 2024[25] - The company's total managed gross floor area in Southwest China was 54,429 thousand square meters, covering 260 communities as of June 30, 2024[25] - The company's total managed gross floor area in Northeast China was 7,953 thousand square meters, covering 50 communities as of June 30, 2024[25] - The company's total managed gross floor area in Northwest China was 12,328 thousand square meters, covering 62 communities as of June 30, 2024[25] - The company's total managed gross floor area in North China was 17,354 thousand square meters, covering 89 communities as of June 30, 2024[25] - The company's total managed gross floor area in Central China was 76,021 thousand square meters, covering 340 communities as of June 30, 2024[25] - The company employed over 26,075 on-site personnel (including employees and subcontractors) to provide property management services as of June 30, 2024[28] - The company had approximately 11,023 employees as of June 30, 2024, down from 11,156 employees on December 31, 2023[61] Technology and Innovation - The company has upgraded its "Beidou Seven Stars" system to a "Property Digital Control Platform," enhancing service efficiency and quality[20] - The company has developed an online community service platform, "Caiyun," to facilitate property management fee payments, notifications, and complaints[21] - The company is leveraging IoT, big data, and AI technologies to enhance service quality and efficiency, with a strong data-driven "cloud" system at its headquarters[20] - The company has been upgrading its managed projects with internet-based smart community technologies, including hardware upgrades like remote elevator monitoring and facial recognition access systems[39] - The company's engineering services are provided through subsidiaries and third-party contractors, focusing on safety, comfort, and the implementation of a "property digital control platform" strategy[38] Value-Added Services and Community Engagement - The company is exploring value-added services such as car insurance sales through its extensive owner base and parking management scenarios[23] - The company has launched an online shopping platform, "Caiyouxuan," offering a wide range of products and a light entrepreneurship platform to enhance owner engagement[23] - The company is focusing on building a "warm community" atmosphere through various community activities, improving owner satisfaction and trust[21] Dividends and Shareholder Information - No interim dividend was recommended for the six months ending June 30, 2024, consistent with the same period in 2023[16] - The board of directors did not recommend the payment of an interim dividend for the six months ended June 30, 2024[62] Regulatory and Accounting Standards - The company applied revised Hong Kong Financial Reporting Standards (HKFRS) effective from January 1, 2024, with no material impact on financial statements[8][9] Geographic Revenue Concentration - The company's revenue is primarily derived from China, with no single customer accounting for 10% or more of total revenue[12][13]

Financial Performance - The company's revenue for 2023 reached RMB 3,845,003 thousand, an increase from RMB 3,596,450 thousand in 2022, representing a growth of approximately 6.9%[17] - The gross profit for 2023 was RMB 1,355,436 thousand, compared to RMB 1,207,762 thousand in 2022, indicating a year-over-year increase of about 12.2%[17] - The profit attributable to the owners of the company for 2023 was RMB 498,570 thousand, slightly down from RMB 501,721 thousand in 2022, reflecting a decrease of approximately 0.3%[17] - The basic earnings per share for 2023 was RMB 36.48, compared to RMB 34.90 in 2022, marking an increase of about 4.5%[17] - Total assets as of 2023 amounted to RMB 9,375,943 thousand, up from RMB 10,296,437 thousand in 2022, showing a decrease of approximately 8.9%[17] - Total liabilities for 2023 were RMB 5,323,947 thousand, a slight decrease from RMB 5,742,015 thousand in 2022, indicating a reduction of about 7.3%[17] - Cash and cash equivalents at the end of 2023 stood at RMB 1,721,228 thousand, compared to RMB 2,458,579 thousand in 2022, reflecting a decrease of approximately 30%[17] - The company's available distributable reserves as of December 31, 2023, amount to RMB 1,880 million, slightly down from RMB 1,882 million in 2022, including a share premium of RMB 1,739 million and retained earnings of RMB 141 million[87] Strategic Initiatives - The company plans to expand its market presence and enhance service offerings through strategic partnerships and technology integration[23] - New product development initiatives are underway, focusing on engineering services and energy management solutions to meet market demands[23] - The management team remains committed to improving operational efficiency and exploring potential acquisition opportunities to drive growth[23] - A strategic acquisition of a local competitor is anticipated to enhance operational capabilities and increase market penetration[99] - The company is investing $10 million in research and development for new technologies aimed at improving service efficiency[99] - The company is expanding its market presence in Southeast Asia, targeting a 10% market share within the next two years[99] Shareholder Information - Major shareholder Flower Year holds a 52.44% stake in the company, with the ultimate beneficial owner being Ms. Zeng Baobao[27] - The company has a total of approximately 45,532,000 shares available for issuance under the share option plan, representing 3.06% of the total issued shares[28] - The total number of shares held by the directors and senior management is 291,150, which represents 0.00% of the total issued shares[26] - The company has not acquired any shares under the share incentive plan as of December 31, 2023[33] - The company has not granted any share awards under the share incentive plan during the fiscal year ending December 31, 2023[33] Corporate Governance - The company has adopted the Corporate Governance Code as per the listing rules, effective from December 31, 2023[128] - The board of directors consists of eight members, including two executive directors, three non-executive directors, and three independent non-executive directors, ensuring compliance with listing rules[139] - The company has maintained a high level of corporate governance to ensure management integrity and protect shareholder interests[134] - The company has adopted a "Board Diversity Policy" to ensure a balanced mix of skills, experience, and diversity perspectives on the board[196] - The board is responsible for leading and controlling the company, ensuring effective decision-making and performance oversight[159] - The company has ensured sufficient public float throughout the reporting period as per listing rules[150] Compliance and Regulatory Matters - The company’s legal advisors confirmed that the contractual arrangements do not violate any applicable Chinese laws and regulations[50] - The company’s independent auditor has confirmed that there are no issues that would lead them to believe the ongoing related transactions are not in compliance with the relevant regulations[80] - The board confirmed compliance with all regulatory requirements regarding related party transactions[100] - The company has maintained compliance with relevant laws and regulations, particularly those significantly impacting its operations, as of December 31, 2023[144] Employee and Remuneration Policies - Employee costs amounted to RMB 523 million, including RMB 4 million for director remuneration and RMB 519 million for other employee salaries and allowances[126] - The remuneration policy aims to attract, retain, and motivate talent, with contributions to the Mandatory Provident Fund based on a percentage of employee salaries[146] - The remuneration committee held one meeting during the year to review and recommend the compensation packages for directors and senior management[166] Future Outlook - The company provided guidance for the next fiscal year, projecting revenue growth of 25% and aiming for $625 million[99] - New product launches are expected to contribute an additional $50 million in revenue, with a focus on enhancing user experience and engagement[99] Meetings and Attendance - The board of directors held 4 meetings and 2 shareholder meetings during the review year[175] - The audit committee conducted 2 meetings during the year ending December 31, 2023, and reviewed the effectiveness of the internal control system[178] - The Nomination Committee held one meeting for the year ending December 31, 2023, to evaluate the independence of independent non-executive directors and review the board's diversity policy[197] - The attendance records for board meetings indicate that the executive director Pan Jun attended 0 out of 4 board meetings before resigning on September 11, 2023[198] - Independent non-executive director Xu Xinmin attended 4 out of 4 board meetings and 2 out of 2 shareholder meetings before resigning on December 18, 2023[198] Audit and Financial Statements - The independent auditor for the financial statements for the year ending December 31, 2023, is BDO Limited, with a resolution to reappoint them at the upcoming annual general meeting[151] - The independent auditor's report regarding the financial statements is included on page 68 of the annual report, confirming the auditor's responsibilities[200]

Financial Performance - For the year ended December 31, 2023, the group achieved total revenue of approximately RMB 1,523.2 million, a 16.2% increase from RMB 1,311.0 million in 2022[3] - Gross profit for the year was approximately RMB 454.2 million, up from RMB 421.2 million in 2022, reflecting a gross margin improvement[3] - Net profit for the year was approximately RMB 33.0 million, a decrease from RMB 48.5 million in 2022, resulting in a net profit margin of 2.2%[3] - Basic and diluted earnings per share for the year were RMB 1.55, down from RMB 2.11 in 2022[8] - The overall gross profit margin for the year ended December 31, 2023, was approximately 29.8%, down from 32.1% in the previous year, representing a decline of 2.3 percentage points[99] - The company's net profit attributable to shareholders for the year ended December 31, 2023, was RMB 23,007,000, a decrease of 26.6% compared to RMB 31,358,000 in 2022[70] Revenue Breakdown - For the year ended December 31, 2023, the total service revenue was RMB 1,311,037 thousand, an increase from RMB 1,206,350 thousand in 2022, reflecting a growth of approximately 8.7%[33] - Property management services accounted for RMB 1,206,350 thousand of the total revenue, while value-added services contributed RMB 104,687 thousand[33] - Property management service revenue increased by 18.3% year-on-year in 2023[116] - Value-added services revenue decreased by 8.7% to approximately RMB 95.6 million, down from RMB 104.7 million in 2022[147] Assets and Liabilities - As of December 31, 2023, the group had a debt-to-asset ratio of approximately 23.7%, consistent with the 23.8% ratio reported at the end of 2022[2] - The group's total assets as of December 31, 2023, were RMB 4,243.8 million, compared to RMB 4,106.4 million in 2022[9] - The group reported no interest-bearing debt as of December 31, 2023, indicating a strong liquidity position[2] - The group's current ratio was approximately 3.1 times, compared to about 3.0 times as of December 31, 2022[162] Trade Receivables - Trade receivables increased to RMB 651.8 million in 2023 from RMB 565.3 million in 2022, indicating a growth in customer transactions[9] - The aging analysis of trade receivables shows that amounts due within 30 days increased to RMB 122,044 thousand in 2023 from RMB 90,198 thousand in 2022[55] - The trade receivables amounted to RMB 651,808 thousand in 2023, up from RMB 565,309 thousand in 2022, indicating a growth of 15.3%[42] Employee and Operational Metrics - The total employee costs for 2023 amounted to RMB 522,564 thousand, compared to RMB 389,682 thousand in 2022, reflecting a significant increase in workforce expenses[66] - The company employed over 26,887 personnel to provide property management services as of December 31, 2023[132] - The number of communities managed decreased to 1,986 from 2,105 in the previous year[104] - The company managed a total building area of approximately 355.98 million square meters across 1,986 communities as of December 31, 2023, compared to 399.89 million square meters across 2,105 communities in 2022[82] Financial Position and Cash Flow - As of December 31, 2023, the group's bank balances and cash amounted to approximately RMB 947.9 million, an increase of about 25.2% compared to RMB 757.1 million as of December 31, 2022[179] - The total cash amount of the group, including pledged bank deposits, was approximately RMB 998.2 million as of December 31, 2023, an increase of about 26.1% compared to RMB 791.9 million as of December 31, 2022[186] - The group's financing costs for the year ended December 31, 2023, were approximately RMB 1.9 million, a decrease of about 65.5% compared to RMB 5.5 million last year[176] Strategic Initiatives - The company has established a strong data-driven "cloud" system to enhance service efficiency and quality in property management[48] - The company has implemented an online platform, "Cai Zhi Yun," to facilitate property management fee payments and enhance communication with community residents[51] - The company is actively exploring value-added services in community scenarios, including customized products and services for property owners[80] - The company plans to expand its business primarily through acquiring new service contracts, including replacing previous property management companies[84] Governance and Reporting - The board does not recommend the payment of a final dividend for the year ended December 31, 2023[165] - The 2023 annual report and shareholder meeting documents will be published on the company's website and the Hong Kong Stock Exchange website[196] - The board of directors includes executive directors Liu Hongcai and Yang Lan, as well as non-executive and independent non-executive directors[197] - The announcement is dated March 28, 2024, indicating the company's ongoing commitment to transparency and shareholder communication[200]

Management and Community Services - As of June 30, 2023, the total contracted management area reached 384.65 million square meters, corresponding to 2,030 communities[24] - The revenue-generating contracted management area as of June 30, 2023, was 201.24 million square meters[24] - The company is actively enhancing its community service platform to provide high-quality property management services and explore consumption scenarios[12] - The company focuses on community engagement through various activities to strengthen relationships among residents and enhance community culture[9] - The company aims to achieve rapid expansion across the country by leveraging its excellent property management experience and external development capabilities[21] - The company emphasizes the importance of basic services (cleaning, greening, security, and maintenance) to ensure residents' quality of life[20] - The company is committed to creating a warm community atmosphere, which enhances trust and facilitates further expansion of community consumption scenarios[9] - The company is implementing a tiered service model based on different pricing standards to meet diverse customer needs[21] - The group has established a comprehensive online and offline service system over 19 years of community management experience[38] - The online platform "Cai Zhi Yun" enhances community residents' convenience by facilitating property management fee payments and communication[43] - The group aims to expand its competitive advantage by integrating online and offline services to better understand and meet community owners' needs[43] - The group actively explores value-added services tailored to community needs, including car insurance product sales through partnerships with insurance companies[45] Financial Performance - Total revenue increased by 19.4% to approximately RMB 758.3 million from RMB 635.3 million in the same period of 2022[65] - Property management service revenue rose by approximately RMB 142.1 million, a 24.3% increase from RMB 586.0 million in 2022 to RMB 728.1 million[77] - The revenue from value-added services decreased by 33.3%, from approximately RMB 43.1 million in 2022 to about RMB 28.8 million[89] - Revenue from engineering services decreased by approximately RMB 4.8 million, a decline of 76.6%[82] - The revenue from installation services decreased by approximately RMB 1.0 million due to the impact of the real estate industry's downturn[82] - The company reported a profit attributable to owners of RMB 2,338,360 thousand for the six months ended June 30, 2023, compared to RMB 2,296,786 thousand for the same period in 2022, marking an increase of about 1.81%[97] - The group’s net profit for the period was RMB 33.6 million, compared to RMB 23.1 million in the same period of 2022, representing a growth of approximately 45.3%[117] - The group’s total comprehensive income for the period was RMB 30.2 million, an increase from RMB 22.2 million in the same period of 2022[117] - Basic and diluted earnings per share were both RMB 2.07, compared to RMB 1.13 in the same period of 2022, reflecting a significant increase[117] Assets and Liabilities - As of June 30, 2023, total assets amounted to RMB 4,260,016 thousand, an increase from RMB 4,106,445 thousand as of December 31, 2022, representing a growth of approximately 3.74%[91] - Trade receivables increased significantly to RMB 731,509 thousand from RMB 565,309 thousand, reflecting a growth of approximately 29.36%[91] - Current liabilities rose to RMB 1,442,594 thousand from RMB 1,375,061 thousand, indicating an increase of about 4.91%[93] - The net asset value as of June 30, 2023, was RMB 4,465,844 thousand, compared to RMB 4,440,882 thousand at the end of 2022, showing a slight increase of approximately 0.56%[93] - The company’s cash and cash equivalents stood at RMB 734,804 thousand, down from RMB 757,116 thousand, a decrease of approximately 2.94%[91] - The company’s goodwill decreased slightly to RMB 885,977 thousand from RMB 890,870 thousand, a decline of about 0.33%[91] - The company’s contract liabilities increased to RMB 232,404 thousand from RMB 182,678 thousand, reflecting a growth of approximately 27.25%[93] - The company’s equity attributable to owners increased to RMB 4,280,750 thousand from RMB 4,253,386 thousand, an increase of about 0.65%[93] - The company’s deferred tax assets rose to RMB 122,821 thousand from RMB 120,327 thousand, indicating a growth of approximately 2.07%[91] Employee and Corporate Governance - The group employs over 26,931 on-site personnel to provide property management services[33] - As of June 30, 2023, the group had approximately 11,011 employees, an increase from 10,465 employees as of December 31, 2022, indicating a growth of 5.2%[155] - The group has maintained compliance with all corporate governance codes as of June 30, 2023[160] - The group continues to focus on maintaining high levels of corporate governance to ensure transparency and accountability to shareholders[133] - The company is committed to corporate governance and has adopted relevant codes and procedures since June 2014[183] Shareholder Information - The company reported a total of 50,676,716 shares outstanding as of June 30, 2023, with a net balance of 49,784,249 shares after cancellations[166] - Major shareholder Ms. Zeng Baobao holds 1,013,643,318 shares, representing 68.14% of the issued share capital[200] - Fantasy Pearl holds 1,011,340,522 shares, accounting for 67.99% of the issued share capital[200] - The company’s major shareholder, Huayang Nian Holdings, holds 780,104,676 shares, which is 52.44% of the issued share capital[200] - Ice Apex Limited, a major shareholder, also holds 1,013,643,318 shares, equivalent to 68.14% of the issued share capital[200] Strategic Initiatives - The company has upgraded its "Beidou Seven Stars" system to a "Property Digital Control Platform," adding smart customer service features[8] - The company has implemented smart community renovations using internet technology, enhancing service quality and efficiency[60] - The company is focusing on value-added services, including online promotion and leasing assistance, to enhance revenue streams[53] - The company continues to develop new technologies and services to improve community management and operational efficiency[60] - The company aims to promote an intelligent community model through regular maintenance to reduce the likelihood of major repairs[63] - The company is committed to providing automated equipment installation services to improve management efficiency and reduce property management service costs[62]

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。 COLOUR LIFE SERVICES GROUP CO., LIMITED 彩 生 活 服 務 集 團 有 限 公司 （於開曼群島註冊成立的有限公司） 1778 （股份代號： ） 2023 6 30 截至 年 月 日止六個月 未經審核中期業績公告 摘要 2023 6 30 截至 年 月 日止六個月： 758.3 218.5 － 本集團實現總收入約為人民幣 百萬元，毛利約為人民幣 百萬元，淨 33.6 30.7 利潤約為人民幣 百萬元，本公司股東應佔淨利潤約為人民幣 百萬元。 2023 6 30 24.7% 2022 12 31 － 於 年 月 日，本集團的資產負債率約為 ，與本集團於 年 月 23.8% 日之資產負債率約 持平。 ...

Financial Performance - In 2022, the company's revenue was RMB 1,311,037 thousand, a significant decrease of 58.7% compared to RMB 3,123,274 thousand in 2021[14] - The gross profit for 2022 was RMB 421,222 thousand, down 49.9% from RMB 839,330 thousand in 2021[14] - The profit attributable to the owners of the company was RMB 31,358 thousand, a decline of 82.5% from RMB 17,656 thousand in 2021[14] - Basic earnings per share for 2022 were 2.11 RMB cents, compared to 1.19 RMB cents in 2021, reflecting a 77.3% decrease[14] - Total revenue for the year ended December 31, 2022, decreased by 58.0% to approximately RMB 1,311.0 million from about RMB 3,123.3 million in the previous year[93] - The decline in revenue was primarily due to the sale of a major subsidiary in 2021, which led to reduced income from property management services, value-added services, and engineering services[94] - Overall gross profit decreased by approximately RMB 418.1 million or 49.8%, from approximately RMB 839.3 million in 2021 to approximately RMB 421.2 million in 2022[104] - The overall gross margin increased by 5.2 percentage points to approximately 32.1% in 2022, compared to 26.9% in 2021[106] - Property management service revenue decreased by 58.2% from approximately RMB 2,885.8 million in 2021 to approximately RMB 1,206.4 million in 2022[95] - Value-added services revenue fell by 57.1% from approximately RMB 204.9 million in 2021 to approximately RMB 88.0 million in 2022[98] - Engineering services revenue decreased by 48.8% from approximately RMB 32.6 million in 2021 to approximately RMB 16.7 million in 2022[102] Assets and Liabilities - Total assets amounted to RMB 5,825,269 thousand in 2022, a slight increase from RMB 5,744,889 thousand in 2021[14] - Total liabilities were RMB 1,384,387 thousand in 2022, compared to RMB 1,335,290 thousand in 2021, indicating a rise of 3.7%[14] - The company maintained a cash balance of RMB 757,116 thousand in 2022, up from RMB 600,079 thousand in 2021[14] - As of December 31, 2022, the group's bank balances and cash amounted to approximately RMB 757.1 million, an increase of 26.2% from RMB 600.1 million as of December 31, 2021[121] - Trade receivables, net of credit loss provisions, were approximately RMB 565.3 million as of December 31, 2022, an increase of about RMB 67.4 million from RMB 497.9 million as of December 31, 2021[122] - The group's total cash as of December 31, 2022, was approximately RMB 791.9 million, an increase of about 19.2% from RMB 664.4 million as of December 31, 2021[129] Awards and Recognition - The company received multiple awards in 2022, including "Best Property Company" and "Top 10 Community Value-Added Service Providers" in China[16][19] - The company was recognized as a leading brand in property service marketization and standardization in 2022[26] - The company has been recognized as an exemplary enterprise in ESG practices at the 2022 Blue Chip Property Summit[30] - The company received multiple awards at the Guangdong International Property Expo, including the "Digital Technology Navigation Award" and recognition for its contributions to social responsibility and employment[50] Community Engagement and Services - The total managed contract area reached 400 million square meters, serving 2,107 communities across 117 cities, benefiting over 8 million homeowners[37] - The company organized over 2,000 community events, reaching more than 1 million community owners in the first half of the year, as part of its 20th anniversary celebrations[49] - The company launched various insurance products such as home insurance, gas insurance, and electric bicycle insurance to address potential risks in daily life scenarios for community owners[45] - The company emphasizes community engagement through various activities to strengthen relationships among residents and property personnel[59] - The company is involved in providing community services through its electronic platforms, enhancing user engagement and service offerings[190] Digital Transformation and Innovation - The company has developed a digital employee system, with 6 digital employees currently operational, reducing work hours by 90% in certain scenarios and achieving a data accuracy of 99.99%[41] - The company is focusing on digital transformation in property management, aligning with national policies to promote community service digitization[38] - The company has established a unified tenant management platform (SCRM) to improve customer service efficiency and satisfaction[41] - The company has upgraded its property management system to a digital control platform, enhancing customer service capabilities across five basic service areas[58] - The company is exploring consumption scenarios and product innovations to enhance community service offerings[62] Strategic Goals and Management - The company is committed to maintaining a flexible and innovative organizational structure to adapt to market changes[57] - The company aims to achieve cost control while ensuring customer satisfaction through automated and standardized management systems[58] - The company plans to create 38 benchmark projects across 23 cities, with an investment of over RMB 50 million to enhance service quality and project management[42] - The company is focused on high-quality growth and enhancing service efficiency through the integration of IoT, big data, and AI technologies[58] - The company aims to expand its business primarily through acquiring new service appointments[68] Shareholder and Governance Structure - The company reported a total issued share capital of 1,487,525,754 shares as of December 31, 2022[155] - Major shareholder Ms. Zeng Baobao holds 1,013,643,318 shares, representing approximately 68.14% of the total issued capital[158] - The company has a significant ownership structure, with Ice Apex Limited and Fantasy Pearl International Limited holding 52.60% and 52.44% respectively[158] - The company's governance structure includes compliance with the Securities and Futures Ordinance, ensuring transparency in shareholding[158] - The independent non-executive directors confirmed their independence according to the listing rules[181] Future Investments and Market Expansion - The company plans to make significant investments based on strategic goals and business requirements in the future[174] - The company is exploring opportunities for market expansion and new strategies in the telecommunications sector[199] - The company aims to enjoy all economic benefits generated from Shenzhen Caiyun Network's online community leasing, sales, and other service businesses[199]

Financial Performance - The company achieved a total revenue of RMB 635.3 million for the main business, with a net profit attributable to shareholders of RMB 16.8 million as of June 30, 2022[18]. - Total revenue for the group decreased by 64.6% from approximately RMB 1,792.2 million in 2021 to about RMB 635.3 million in 2022[103]. - Service revenue for the six months ended June 30, 2022, was RMB 635,323,000, a decrease of 64.6% compared to RMB 1,792,202,000 for the same period in 2021[191]. - The net profit for the six months ended June 30, 2022, was RMB 23,143,000, a significant decline of 90.9% compared to RMB 253,473,000 in the previous year[193]. - Basic earnings per share for the period was RMB 1.13, down from RMB 17.20 in the same period last year[193]. - Overall gross profit for the period was approximately RMB 187.3 million, down about 67.9% from RMB 583.9 million in the same period of 2021[108]. - Gross profit from property management services was approximately RMB 147.6 million, a decrease of about 67.1% from RMB 448.1 million in the same period of 2021[128]. - Gross profit from value-added services was approximately RMB 36.7 million, down about 71.1% from RMB 127.1 million in the same period of 2021[129]. - Financing costs for the period were approximately RMB 4.0 million, a significant decrease of about 95.9% from RMB 96.4 million in the same period of 2021[132]. - The income tax expense decreased significantly from approximately RMB 93.1 million in the same period last year to about RMB 8.8 million in the current period[154]. Revenue Breakdown - Property management service revenue decreased significantly by approximately 63.7% from about RMB 1,612.9 million in the same period of 2021 to approximately RMB 586.0 million[88]. - Value-added services revenue dropped by 70.3% from approximately RMB 145.2 million in 2021 to about RMB 43.1 million in 2022[93]. - Engineering service revenue decreased by 81.6% to RMB 6.3 million, primarily due to the sale of a major subsidiary in the second half of 2021[8][9]. - Revenue from equipment installation services decreased by approximately RMB 17.0 million, primarily due to the impact of the real estate industry leading to a corresponding reduction in smart improvement services[153]. - The revenue from online promotion services decreased by RMB 12.8 million, while sales and leasing assistance revenue fell by RMB 75.2 million[93]. Operational Highlights - The total contracted management area reached 415 million square meters, serving 2,186 communities across 121 cities, benefiting over 8 million homeowners[18]. - The company processed 2,359 valid complaints during an 8-day customer service initiative, averaging 5 minutes per complaint[25]. - The company has established a robust data-driven "cloud" system at its headquarters to enhance service efficiency and reduce reliance on traditional management functions[30]. - The company introduced 15 management regulations and a total of 475 detailed rules to improve service standards and risk management[21]. - The company is actively exploring value-added services in community scenarios, integrating property management with market and owner needs, and developing customized products and services[33]. - The company has launched a digital employee system, with 6 digital employees achieving a 90% reduction in work hours and 99.99% data accuracy compared to regular employees[45]. - The company aims to explore new profit models to create long-term value for shareholders and provide quality products and services to customers[29]. - The company aims for rapid expansion across the country by leveraging targeted service experiences to meet diverse client needs[75]. Community Engagement and Governance - The company established 44 party branches nationwide and conducted 49 party-building activities to enhance community governance and improve residents' quality of life[27]. - The company is focusing on enhancing community interaction and owner engagement through an online shopping platform, improving service recognition among owners[33]. - The company has maintained a high level of corporate governance to ensure management integrity and protect shareholder interests[166]. - The group continues to review and enhance its corporate governance practices to ensure compliance with the corporate governance code[144]. - The company has established a remuneration committee to comply with corporate governance codes[171]. Employee and Resource Management - The company employed over 28,121 personnel to provide property management services as of June 30, 2022[66]. - The group employed approximately 10,853 employees as of June 30, 2022, an increase from 10,568 employees as of December 31, 2021[141]. - Administrative expenses decreased by about 50.4% to approximately RMB 93.5 million from RMB 188.5 million in the same period of 2021, mainly due to the sale of a major subsidiary in the second half of 2021[112]. Financial Position - As of June 30, 2022, the total cash balance of the group was approximately RMB 541.0 million, down from RMB 664.4 million as of December 31, 2021[139]. - Trade payables amounted to approximately RMB 350.6 million as of June 30, 2022, compared to RMB 190.2 million as of December 31, 2021[137]. - The total amount of cash and restricted bank deposits was RMB 541.0 million, exceeding the total interest-bearing liabilities of RMB 100.0 million as of June 30, 2022[162]. - The company had bank and other borrowings of approximately RMB 100.0 million, down from RMB 184.8 million as of December 31, 2021[161]. - The total issued shares of the company as of June 30, 2022, were approximately 1,487,526,000 shares, unchanged from December 31, 2021[158].

Financial Performance - Engineering services revenue for the year ended December 31, 2021, was approximately RMB 32.6 million, a decrease of RMB 23.0 million or 41.4% compared to the previous year[1]. - The overall gross profit for the year ended December 31, 2021, decreased by RMB 368.5 million or 30.5% to approximately RMB 839.3 million, with a gross profit margin of 26.9%, down from 33.6% the previous year[2][4]. - Property management services gross profit was approximately RMB 669.6 million, a decrease of RMB 263.5 million from RMB 933.1 million, with a gross profit margin dropping from 28.4% to 23.2%[5]. - Value-added services gross profit decreased by RMB 81.0 million to RMB 162.4 million, with a gross profit margin declining from 95.0% to 79.2%[6]. - Engineering services gross profit was approximately RMB 7.3 million, down RMB 23.9 million from RMB 31.2 million, with a gross profit margin falling from 56.2% to 22.6%[7]. - The total revenue for the year ended December 31, 2021, was RMB 3,123,274,000, a decrease from RMB 3,845,003,000 in 2020, representing a decline of approximately 18.7%[116]. - The gross profit for the same period was RMB 839,330,000, down from RMB 1,207,762,000 in 2020, indicating a decrease of about 30.6%[116]. - The profit attributable to the owners of the company was RMB 17,656,000, significantly lower than RMB 501,721,000 in 2020, reflecting a decline of approximately 96.5%[116]. - The total assets as of December 31, 2021, amounted to RMB 5,744,889,000, compared to RMB 10,296,437,000 in 2020, a decrease of about 44.7%[116]. - The total liabilities were RMB 1,335,290,000, a reduction from RMB 5,742,015,000 in 2020, indicating a decrease of approximately 76.7%[116]. - The basic earnings per share for the year were 1.19 RMB, down from 34.90 RMB in 2020, representing a decline of about 96.6%[116]. - The company had a bank balance and cash of RMB 600,079,000 as of December 31, 2021, compared to RMB 2,458,579,000 in 2020, a decrease of approximately 75.6%[116]. Cost and Expenses - Total service costs for the year were approximately RMB 2,283.9 million, a decrease of RMB 104.8 million or 4.4% from RMB 2,388.7 million[2]. - Financing costs increased by RMB 71.3 million or 33.9% to approximately RMB 281.7 million compared to RMB 210.4 million the previous year[10]. - Other income for the year was approximately RMB 60.8 million, a decrease of RMB 8.9 million from RMB 69.7 million, primarily due to reduced VAT exemptions and government subsidies[8]. - Sales and distribution expenses increased by 52.7% to approximately RMB 25.8 million, up from RMB 16.9 million, mainly due to business expansion[10]. Assets and Liabilities - As of December 31, 2021, the group's bank balances and cash amounted to approximately RMB 600.1 million, down from approximately RMB 2,458.6 million as of December 31, 2020[25]. - Trade receivables, net of credit loss provisions, decreased to approximately RMB 497.9 million as of December 31, 2021, from approximately RMB 547.0 million as of December 31, 2020, a decline of approximately RMB 49.1 million[27]. - Goodwill decreased from approximately RMB 2,317.3 million as of December 31, 2020, to approximately RMB 886.3 million as of December 31, 2021, a reduction of approximately RMB 1,431.0 million, mainly due to the sale of a major subsidiary[29]. - Other receivables and prepayments increased to approximately RMB 1,599.7 million as of December 31, 2021, from approximately RMB 756.1 million as of December 31, 2020, an increase of approximately RMB 843.6 million[42]. - Trade payables decreased to approximately RMB 190.2 million as of December 31, 2021, from approximately RMB 405.6 million as of December 31, 2020, a decrease of approximately RMB 215.4 million[43]. - The company accelerated the payment of trade payables and other payables in the second half of 2021, contributing to the significant reductions in these liabilities[43]. - As of December 31, 2021, the total cash amount of the group decreased by approximately 74.6% from about RMB 2,612.7 million to approximately RMB 664.4 million[51]. - The current ratio of the group as of December 31, 2021, was approximately 3.0 times, compared to about 1.2 times on December 31, 2020[52]. - The group had bank and other borrowings of approximately RMB 184.8 million as of December 31, 2021, down from about RMB 956.7 million a year earlier[52]. - The group had no net debt ratio as of December 31, 2021, as cash and restricted bank deposits exceeded total debt[52]. - The group’s bank deposits of approximately RMB 64.3 million as of December 31, 2021, were subject to pledges or restrictions[51]. - The group’s borrowings included approximately RMB 144.8 million secured by bank deposits and equity interests of subsidiaries[52]. Employee and Management - The group employed approximately 10,568 employees as of December 31, 2021, a decrease from about 14,459 employees on December 31, 2020[53]. - The group’s employee benefits include mandatory provident fund contributions and discretionary bonus plans[53]. - The company has a total of 16 employees with salaries ranging from zero to over HKD 4 million, with the highest number (7) earning between HKD 1 million and HKD 2 million[91]. - The management team includes experienced professionals with backgrounds in property management and administration, contributing to the company's operational efficiency and strategic direction[73][74][81]. Strategic Focus and Future Plans - The company is focusing on promoting smart community models and enhancing hardware infrastructure for property digital management[13]. - The company plans to focus on community services and technology empowerment in property management as part of its future strategy[120]. - The company aims to enhance community services and expand its operational management in various regions[54]. - The company is focusing on enhancing community service platforms and exploring value-added services to improve community engagement and satisfaction[149]. - The company aims to align with national policies promoting property management and community services, emphasizing quality and digitalization[155]. - The company plans to expand its service offerings into areas such as elderly care, childcare, and health services, in line with government initiatives[155]. - The company is committed to improving safety and service quality through standardized management and enhanced security measures[157]. - The company is focused on increasing operational efficiency and service fee collection rates through improved management tools[157]. - The company is dedicated to fostering harmonious communities by promoting neighborly relations and cultural activities[149]. - The company is actively exploring value-added services, including car insurance products, which have a gross margin higher than industry standards[176]. - The company has established a digital "cloud" system to enhance service efficiency and reduce reliance on traditional management functions[186]. - The online platform "Cai Zhi Yun" facilitates property management fee payments and enhances community engagement[187]. - The company aims to improve community service quality through timely tracking of customer satisfaction by dedicated customer managers[187]. - The company is committed to building a warm community atmosphere through various community activities, enhancing trust among residents[179]. - The company is leveraging emerging technologies such as IoT and big data to advance smart community construction[186]. - The company focuses on organic growth through word-of-mouth and brand reputation for new contract expansions[180]. - The company is dedicated to providing customized products and services based on market and owner needs[181]. Community Engagement and Activities - The company organized over ten national community activities, with each event attracting more than 2 million participants, demonstrating strong community engagement[163]. - In 2021, the company completed seven major system certifications, including compliance management and energy management, enhancing service quality standards[160]. - The company achieved a standardized service process across different project types, handling a total of 1.6 million standardized service orders throughout the year[160]. - The company maintained a high customer satisfaction score in the 2021 China Index Research Institute survey, significantly exceeding industry standards[173]. - The company has been recognized as a top performer in various industry rankings, including being named one of the top 10 property service companies in China[126][130]. - The company has been recognized as the seventh among the "Top 100 Property Service Enterprises" in China, reflecting its strong market position[173]. - The company actively promotes community governance through party-building initiatives, enhancing its role in local social management[174]. Management Areas and Contracts - The total contracted management area reached 423 million square meters, serving 2,220 communities across 125 cities, benefiting over 8 million homeowners[154]. - The total contracted management area reached 423.49 million square meters as of December 31, 2021, covering 2,220 communities[180]. - The revenue-generating contracted management area was 230.22 million square meters as of December 31, 2021[180]. - The total managed building area by the group reached approximately 414.6 million square meters across 2,189 communities[192]. - The group entered into consultancy service agreements for a total building area of approximately 8.9 million square meters with 31 communities[193]. - The total building area managed by the group decreased by 144,359 thousand square meters due to terminations, affecting 665 communities[193]. - The group achieved new appointments totaling 6,305 thousand square meters, covering 42 communities during the reporting period[193]. - The total building area managed in the South China region (excluding Shenzhen) was 72,252 thousand square meters across 471 communities[192]. - The group’s total building area in East China was 94,741 thousand square meters, managing 717 communities[192]. - The group’s total building area in the Central China region was 114,921 thousand square meters, managing 393 communities[192]. - The group’s total building area in the Northeast region was 12,476 thousand square meters, managing 64 communities[192]. - The group’s total building area in the Northwest region was 12,775 thousand square meters, managing 66 communities[192]. Property Management Models - The property management services include: (i) providing services on a fixed fee basis; (ii) providing services on a commission basis; (iii) pre-delivery services for property developers; and (iv) consulting services to regional property management companies[198]. - Under the fixed fee model, the group recognizes all property management fees charged to owners as revenue, with related costs recognized as the group's cost of sales[199]. - Under the commission model, the group acts essentially as an agent for the owners, retaining a percentage (generally 10%) of the property management fees as revenue, while the remaining fees are used for operational funding[200]. - In Shenzhen, the property management fees range from RMB 0.4 to 11.4 per square meter per month under the fixed fee model[197]. - In South China (excluding Shenzhen), the fees range from RMB 0.5 to 6 per square meter per month under the fixed fee model[197]. - In East China, the fees range from RMB 0.4 to 17.0 per square meter per month under the fixed fee model[197]. - In Southwest China, the fees range from RMB 0.5 to 6.1 per square meter per month under the fixed fee model[197]. - In Northeast China, the fees range from RMB 0.4 to 3.3 per square meter per month under the fixed fee model[197]. - In Northwest China, the fees range from RMB 0.5 to 4.0 per square meter per month under the fixed fee model[197]. - In North China, the fees range from RMB 0.7 to 5.5 per square meter per month under the fixed fee model[197].