Financial Position - As of December 31, 2023, the group's prepaid and other receivables amounted to approximately RMB 422.4 million, a decrease of about RMB 34.5 million from RMB 456.9 million as of December 31, 2022, primarily due to an increase in impairment provisions[1] - The group had no borrowings or bank loans as of December 31, 2023[2] - The group has maintained a strong financial position with no debt, allowing for potential future investments and growth opportunities[2] - The total current assets reached RMB 945.4 million, a growth of 4.9% compared to RMB 901.2 million as of December 31, 2022[146] - The company’s total equity increased by RMB 28.4 million to RMB 541.7 million, reflecting a 5.5% growth from RMB 513.3 million in the previous year[146] - The capital-to-debt ratio was zero as of December 31, 2023, indicating no borrowings against total equity[155] Revenue and Growth - In 2023, the company achieved a 9.4% year-on-year increase in managed scale and a 9.2% increase in operating revenue, despite challenges in the real estate sector[61] - The company reported a total revenue of RMB 534.79 million in 2023, a significant increase from RMB 496.45 million in 2022[84] - The company achieved a revenue of approximately RMB 749.6 million for the year ended December 31, 2023, representing a year-on-year increase of about 9.2% from RMB 686.5 million in 2022[133] - The company’s basic property service revenue grew by 7.2% year-on-year, demonstrating resilience despite external pressures[61] - Revenue from charging piles increased by 31% year-on-year, while temporary parking income rose by 17%[72] - The group reported a 118% year-on-year increase in revenue from property engineering services, totaling RMB 74,631,000 in 2023[115] - Value-added services revenue reached RMB 115,852,000, with space resource management accounting for 47% and home living services for 38%[108] Operational Efficiency and Innovation - The company developed the XinMeta industry metaverse platform, which features zero-code 3D modeling technology, enhancing operational efficiency[59] - The company is focusing on data-driven operations to redefine traditional business models, transitioning from a "people find goods" to a "goods find people" approach[60] - The company plans to enhance its service experience and operational efficiency by leveraging data-driven approaches and technology integration[126] - The company has completed a digital development plan, with RMB 11.8 million invested in hardware construction, enhancing internal operations and management efficiency[174] Strategic Expansion - The company implemented a market expansion strategy that resulted in a 42% year-on-year increase in market expansion scale[58] - The company aims to expand its market presence and enhance service quality through technological advancements and strategic initiatives[44] - The company is actively seeking strategic acquisitions of quality property management service providers to expand its service offerings since 2022[172] - The company plans to further develop strategic alliances and expand its property management and engineering service scale[190] - The group’s strategic expansion includes localized deep cultivation in four major regions: Central China, South China, East China, and North China[95] Awards and Recognition - The group has received multiple awards in 2023, including being recognized as one of the top 20 property service companies in Central China and a leading enterprise in high-quality property services[44] - The group is committed to innovation and has been recognized as a leading enterprise in property service satisfaction in 2023[44] - The company received multiple accolades, including being ranked among the top 15 property service companies in China and recognized for its brand influence[72] Employee and Community Engagement - The company employed 1,741 staff as of December 31, 2023, an increase from 1,543 employees as of December 31, 2022[162] - The company has established a community governance model that includes 100% coverage of party organizations and has assisted over 8,000 elderly individuals[64] Financial Performance Metrics - The gross profit for the year was RMB 241.3 million, an increase of 5.2% from RMB 229.3 million in 2022, with a gross margin of 32.2%, down from 33.4% in the previous year[138] - Administrative expenses rose to RMB 100.2 million, a 43.3% increase from RMB 69.9 million in 2022, representing 13.4% of total revenue[139] - The company reported a net profit of RMB 28.4 million for the year, primarily due to a decrease in impairment provisions related to financial and contract assets[142] Assets and Liabilities - Trade receivables reached RMB 228.6 million as of December 31, 2023, reflecting a growth of 15.1% from RMB 198.6 million as of December 31, 2022, primarily due to increased managed area and slower settlement from certain third parties[149] - Trade payables decreased by 5.2% to RMB 106.7 million as of December 31, 2023, down from RMB 112.5 million as of December 31, 2022, mainly due to a reduction in unpaid goods[152] - Other payables and accrued expenses increased by approximately 0.8% to RMB 214.4 million as of December 31, 2023, compared to RMB 212.8 million as of December 31, 2022, attributed to business growth during the year[152] - Contract liabilities decreased by 2.7% to RMB 106.5 million as of December 31, 2023, from RMB 109.4 million as of December 31, 2022, mainly due to a slowdown in property fee prepayment activities[152] Future Plans and Investments - The company plans to utilize approximately RMB 118.3 million for property management service expansion and strategic acquisitions by September 30, 2023[172] - Approximately RMB 29.6 million is allocated for expanding value-added service lines, expected to be fully utilized by September 30, 2023[172] - The company has invested about RMB 29.6 million in upgrading and developing its own information technology and smart systems, with full utilization expected by September 30, 2023[172] - The total amount allocated for business development and upgrading smart systems is RMB 115.0 million, with expected full utilization by June 30, 2024[180]

Financial Performance - The company reported a total income of RMB 49 million for the period ending December 31, 2022, reflecting a significant increase compared to the previous year[3]. - Total revenue for 2022 was RMB 496,450 thousand, an increase of 11.3% from RMB 446,031 thousand in 2021[166]. - The residential property management segment generated RMB 399,616 thousand in revenue, representing 80% of total revenue for 2022[169]. - The total property management service revenue increased by 11.3% year-on-year, indicating a solid growth trajectory[105]. - The revenue from community value-added services rose by 60% year-on-year, reflecting significant progress in enhancing homeowner life services[94]. - The company achieved a 32.6% year-on-year increase in basic service revenue per square meter, improving overall operational quality[93]. - The company reported a 33% increase in revenue from space resource management, totaling RMB 53,086 thousand in 2022[166]. - Third-party service revenue accounted for 16% of total revenue in 2022, down from 19% in 2021[166]. - The gross profit margin declined from approximately 34.6% in 2021 to 33.4% in 2022[185]. - The gross profit margin for value-added services was 57.0%, down approximately 11.8 percentage points from 68.8% in 2021, primarily due to a decrease in revenue from space operation services and increased labor costs from new business development[186]. - The net loss for the year ended December 31, 2022, was RMB 334.1 million, mainly due to an increase in impairment provisions for financial assets[189]. - Current assets as of December 31, 2022, amounted to RMB 901.2 million, a decrease of 21.1% from RMB 1,141.8 million as of December 31, 2021[190]. - The group's prepayments and other receivables increased by approximately RMB 114.8 million to RMB 456.9 million as of December 31, 2022, compared to RMB 342.1 million as of December 31, 2021, mainly due to an increase in amounts receivable from related parties[194]. Corporate Governance - The board of directors has established three committees to enhance corporate governance, including the nomination, remuneration, and audit committees[24]. - The company has a strong emphasis on continuous professional development for its directors to ensure informed contributions to the board[27]. - The company is committed to transparency and has provided necessary training for newly appointed directors to understand its operations and responsibilities[26]. - The company aims to enhance its operational efficiency and strategic decision-making through improved governance practices[23]. - The board has the authority to seek independent professional advice at the company's expense to ensure informed decision-making[34]. - The board's structure and composition are regularly reviewed to ensure it meets the company's strategic needs and governance standards[62]. - The board of directors has ensured compliance with the requirement that independent non-executive directors constitute at least one-third of the board members[43]. - The nomination committee is responsible for reviewing the diversity policy of the board and assessing the independence of non-executive directors[38]. - The company has implemented a code of conduct for securities trading, confirming that all directors complied with the standards throughout the year ending December 31, 2022[52]. - The company is committed to maintaining independent and compliant operations through effective governance and internal control mechanisms[122]. Leadership and Management - The management team has extensive experience, with over 20 years in senior management positions across various multinational companies[10]. - The company appointed a new Chief Financial Officer, Mr. Wang, on October 21, 2022, to oversee financial management and fundraising efforts[8]. - The company has undergone significant leadership changes, with multiple appointments and resignations in key executive positions throughout 2022[25]. - The company has established a training program for directors to keep them updated on regulatory developments and company performance[46]. - The company is focusing on enhancing operational efficiency through the integration of technology and management services, aiming for mid-to-high-speed growth in its core property management business[123]. Market Expansion and Strategy - The company is focused on expanding its market presence and developing new technologies to support its growth strategy[19]. - The company is actively seeking diversification in its business operations, focusing on sectors such as schools, hospitals, and public facilities[63]. - The company is exploring new strategies for market expansion and potential mergers and acquisitions[79]. - The company plans to expand its business in five core regions: Central China, Bohai Rim, Yangtze River Delta, Greater Bay Area, and Southwest China[154]. - The company aims to transition from resource-based development to capability-based development, focusing on both horizontal and vertical industry chain extensions[155]. - The company is expanding its brand matrix to enhance its market influence[79]. - The company is actively optimizing its project portfolio, terminating contracts for underperforming projects to enhance overall operational efficiency[105]. - The company is expanding its market presence by actively targeting the non-residential market and enhancing its service structure[131]. Service Quality and Customer Satisfaction - The company achieved a customer satisfaction score of 93.2, placing it in a leading position within the industry[77]. - The company is committed to enhancing service quality and creating more value for property owners[77]. - The company is focusing on enhancing service quality and customer satisfaction through a "high cost-performance, high satisfaction, high service experience" strategy[154]. - The company has been recognized as a "Five-Star Property Service Enterprise" in a 2021 industry evaluation[72]. - The company received multiple awards in 2022, including being recognized as one of the top 100 property service companies in China and a leading enterprise in smart property services[130]. Operational Efficiency and Technology - The company is focused on high-quality development and internal operational efficiency improvements, achieving significant results in 2022[116]. - The company has developed a comprehensive service model called "Xin Fire 6+1," integrating red property services into urban comprehensive service upgrades[121]. - The company has established the Xinwu Cloud Smart Platform to innovate smart operation management services across various sectors, including community and industrial parks[119]. - The company is leveraging its resources to enhance life services, asset operations, and renovation projects, achieving rapid breakthroughs in these areas[129]. - The company is leveraging technology to analyze data and identify new demands and scenarios for revenue generation[181].

Financial Performance - The total comprehensive income attributable to equity holders of the company for the year ended December 31, 2023, was RMB 28,126 thousand, compared to a loss of RMB 334,265 thousand in the previous year[1]. - Basic and diluted earnings per share for the year ended December 31, 2023, were RMB 4.96, compared to a loss of RMB 58.90 in 2022[2]. - The company reported a net profit for the year of RMB 28.4 million, significantly improving from a loss of RMB 334.3 million last year, with profit attributable to shareholders amounting to RMB 28.1 million, resulting in a basic earnings per share of RMB 4.96[194]. Assets and Liabilities - The total current assets as of December 31, 2023, amounted to RMB 945,419 thousand, an increase from RMB 901,222 thousand in 2022[4]. - The total liabilities decreased slightly to RMB 520,750 thousand in 2023 from RMB 508,728 thousand in 2022, indicating a stable financial position[4]. - As of December 31, 2023, total assets reached RMB 541.726 million, an increase from RMB 513.313 million[22]. - The total non-current assets as of December 31, 2023, were RMB 130,014 thousand, slightly down from RMB 130,481 thousand in 2022[5]. - The company’s total liabilities decreased from RMB 263,801,000 in 2022 to RMB 135,046,000 in 2023 due to repayment of bank loans[124]. Revenue and Expenses - The group achieved a revenue of approximately RMB 749.6 million for the year ended December 31, 2023, representing a year-on-year increase of about 9.2% from RMB 686.5 million in 2022[187]. - Property management services contributed RMB 534.8 million, accounting for 71.3% of total revenue, while value-added services generated RMB 115.9 million, representing 15.5% of total revenue[187]. - The gross profit for the year was RMB 241.3 million, an increase of 5.2% from RMB 229.3 million in 2022, with a gross profit margin decreasing from approximately 33.4% in 2022 to 32.2% in 2023[189]. - The total tax expense for the year was RMB 40,831,000, compared to RMB 36,912,000 in 2022[72]. - Administrative expenses for the year amounted to RMB 100.2 million, an increase of 43.3% compared to RMB 69.9 million in 2022, representing 13.4% of revenue (up from 10.2% in 2022) due to increased listing resumption fees[191]. Investments and Financial Instruments - The company’s financial assets measured at fair value through profit or loss totaled RMB 10,101,000 in 2023, down from RMB 30,992,000 in 2022, indicating a significant reduction in this investment category[116]. - The fair value loss of financial assets measured at fair value through profit or loss was approximately RMB 30,891,000 for the year ended December 31, 2023, compared to RMB 9,912,000 in 2022[119]. - The company has made a provision of approximately RMB 98,655,000 for expected credit losses as of December 31, 2023, compared to RMB 82,929,000 in 2022[90]. Operational Highlights - The group primarily engages in property management services, value-added services, pre-delivery and consulting services, and property engineering services[29]. - The managed area increased to 34.4 million square meters as of December 31, 2023, up 9.4% from 31.4 million square meters in 2022[134]. - The company expanded its property management services to 50 cities in China, managing a total area of approximately 34.3 million square meters[145]. - The group provided property management services to over 200,000 households across 50 cities in China as of December 31, 2023[134]. - The company achieved a total contracted area of approximately 55.3 million square meters by December 31, 2023, with a year-on-year increase of 42% in contracted area[138]. Employee and Operational Costs - Employee benefits expenses, excluding directors and key management personnel, rose to RMB 168,530 thousand in 2023 from RMB 143,533 thousand in 2022, an increase of approximately 17.4%[15]. - The gross margin for value-added services was 55.2%, a decrease of approximately 1.8 percentage points from 57.0% in 2022, primarily due to increased personnel costs[39]. - The gross profit margin for property management services was 29.2%, down from 29.9% in 2022, primarily due to the lower margin of newly added public construction property management services[189]. Strategic Developments - The company has been recognized as a top property service provider in China, ranking in the top 15 for customer satisfaction and overall strength[143]. - The group is diversifying its service offerings to include non-residential properties, with successful projects in various sectors such as logistics and tourism[161]. - The group aims to enhance its competitive edge by providing personalized pre-delivery and consulting services to property developers[169]. - The company is enhancing its service standards and management capabilities while optimizing its expansion model to drive growth in both existing and new markets[182].

Financial Performance - For the six months ended June 30, 2023, the company reported a profit before tax of RMB 62,750,000, a decrease of 30.5% compared to RMB 90,046,000 for the same period in 2022[2] - The company's gross profit for the same period was RMB 126,291,000, down from RMB 136,095,000, reflecting a decline of approximately 7.3%[5] - Earnings attributable to equity holders of the company were RMB 40,725,000, down 37.3% from RMB 64,880,000 in the same period last year[6] - The company’s diluted earnings per share decreased to RMB 7.18, compared to RMB 11.43 for the same period in 2022, a decline of 37.3%[7] - Total revenue for the six months ended June 30, 2023, decreased by approximately 6.0% to approximately RMB 334.8 million from RMB 356.3 million for the same period in 2022[1] - The total comprehensive income for the period was RMB 41.9 million, down from RMB 65.3 million in the previous year[30] - The net profit for the six months ending June 30, 2023, is approximately RMB 41.9 million, a decrease of 35.8% compared to RMB 65.3 million for the same period in 2022[135] Revenue Breakdown - Revenue from property management services was RMB 252.1 million, a slight decrease from RMB 256.4 million in the same period last year[50] - Revenue from pre-delivery and consulting services significantly decreased to RMB 11.0 million from RMB 36.3 million in the same period last year[50] - The group reported recognized revenue of RMB 106,251 thousand for the six months ended June 30, 2023, compared to RMB 105,008 thousand for the same period in 2022, reflecting a slight increase[77] - In the first half of 2023, the overall revenue from the real estate sector was RMB 10,980,000, a decrease of 69.8% year-on-year[153] - The engineering construction business saw a revenue increase of 83.1% year-on-year in the first half of 2023[154] Expenses and Liabilities - Administrative expenses increased to RMB 42,331,000, compared to RMB 27,753,000 in the previous year, marking a rise of 52.7%[5] - The company recorded other income and gains of RMB 3,202,000, significantly lower than RMB 10,022,000 in the prior period, indicating a decrease of 68.0%[5] - Total non-current liabilities increased to RMB 12,440,000 as of June 30, 2023, compared to RMB 9,662,000 at the end of 2022, reflecting a rise of 28.3%[10] - Non-current liabilities increased, with lease liabilities rising to RMB 3.1 million from RMB 2.1 million[33] Strategic Initiatives - The company is focused on expanding its property management services and enhancing value-added services as part of its strategic initiatives[13] - The company has established an independent investigation committee to address internal control issues and ensure compliance with regulatory requirements[14] - The company is focusing on strategic upgrades and organizational enhancements, emphasizing management services, scenario services, and scenario technology[135] - The company has implemented a comprehensive strategy to deepen its presence in Central China, the Yangtze River Delta, Southwest China, the Pearl River Delta, and the Bohai Rim[135] Operational Metrics - The company added a contracted area of 2.56 million square meters and an area under management of 1.36 million square meters in the first half of 2023[108] - As of June 30, 2023, the company provided property management services in 50 cities across China, serving over 200,000 households with a contracted building area of 52.8 million square meters and an area under management of 32.6 million square meters[108] - The total construction area under management is 32,558 thousand square meters with 201 projects, a decrease from 38,795 thousand square meters and 207 projects in the previous year[115] - The number of managed projects decreased to 201 from 207 year-on-year, while the managed area also declined to 32,558 thousand square meters from 38,795 thousand square meters[166] Shareholder Returns - The board recommended a special dividend of 3.8 HK cents per share for the six months ended June 30, 2023[4] Market Position and Recognition - The company received recognition as one of the "Top 100 Property Service Satisfaction Enterprises" in China for 2023, enhancing its brand influence[111] - The company has extended its cooperation period with the ultimate holding company until December 31, 2023[120] Innovation and Technology - The company launched new business models such as "Car Space Treasure" and "Pure Water Delivery," transitioning from resource-based to joint operation and self-operated models[150] - The company’s internal HR system was optimized to reduce management risks, and its ERP system was upgraded to improve operational efficiency[137] - The company is transitioning from traditional business models to data-driven approaches, particularly in community service and asset management[158] Financial Health - The net asset value increased to RMB 555.2 million from RMB 513.3 million[34] - As of June 30, 2023, total equity increased to RMB 555.2 million, an increase of RMB 41.9 million or 8.2% from RMB 513.3 million as of December 31, 2022[194] - Trade receivables and notes receivable increased to RMB 240.4 million, up RMB 41.8 million or 21.0% from RMB 198.6 million as of December 31, 2022, mainly due to reduced impairment provisions[196]

Revenue Performance - Property management services revenue reached RMB 496.45 million, accounting for 72.3% of total revenue, an increase from RMB 446.03 million in 2021[3] - Value-added services revenue was RMB 107.55 million, representing 15.7% of total revenue, down from RMB 148.39 million in 2021[3] - Pre-delivery and consulting services revenue decreased to RMB 82.50 million, making up 12.0% of total revenue, compared to RMB 175.75 million in 2021[3] - Total revenue for the year ended December 31, 2022, was RMB 686.50 million, a decline from RMB 770.18 million in 2021[3] - Total revenue for the year ended December 31, 2022, decreased by approximately 10.9% to approximately RMB 686.5 million from RMB 770.2 million for the year ended December 31, 2021[60] - The company's revenue for the year ended December 31, 2022, was RMB 686,498,000, a decrease of 10.9% from RMB 770,176,000 in 2021[81] Profitability and Loss - Gross profit for the year ended December 31, 2022, decreased by approximately 13.9% to approximately RMB 229.3 million, with a gross margin of approximately 33.4%, down 1.2 percentage points from 34.6% in the previous year[60] - The profit attributable to equity holders of the company for the year ended December 31, 2022, declined to approximately RMB -334.3 million from RMB 122.6 million for the year ended December 31, 2021[60] - The net loss for the year was RMB 334,131,000, compared to a profit of RMB 124,070,000 in 2021, indicating a significant downturn[81] - The company reported a loss attributable to equity holders of RMB 334,265,000 for the year, compared to a profit of RMB 119,100,000 in the previous year[103] Assets and Liabilities - Current assets as of December 31, 2022, amounted to RMB 901.2 million, a decrease of 21.1% from RMB 1,141.8 million as of December 31, 2021[8] - The total current liabilities decreased to RMB 508.7 million from RMB 567.1 million in the previous year[67] - The net asset value as of December 31, 2022, was RMB 513.3 million, down from RMB 914.9 million in 2021[70] - Total non-current assets decreased to RMB 130,481,000 from RMB 350,983,000, a reduction of 62.9%[82] - The company’s cash and cash equivalents were approximately RMB 258,233,000 as of December 31, 2022, down from RMB 321,719,000 in 2021, indicating a decrease of 19.7%[171] Impairment and Provisions - The impairment provision for third-party trade receivables amounted to RMB 28,657,000, while the impairment provision for contract assets was RMB 8,025,000[31] - The company reported a significant increase in impairment provisions for financial assets, with RMB 39,685,000 for non-related parties compared to RMB 1,966,000 in 2021[81] - The company recorded a provision for impairment losses of approximately RMB 200.6 million related to collateralized items as of December 31, 2022[52] - The company recognized an expected credit loss provision of approximately RMB 200,565,000 related to receivables with unauthorized pledges for the year ended December 31, 2022[157] Strategic Plans and Investments - The company plans to strategically acquire or invest in quality property management service providers to expand its business and enhance shareholder returns[19] - The company plans to enhance its service capabilities and organizational structure as part of its strategic upgrade in 2022, focusing on three main dimensions: property management, industrial services, and technology[174] Market and Operations - The group primarily operates in China, with all revenue generated from this market during the year[40] - The group has a single operating segment focused on providing property management services, value-added services, and pre-delivery consulting services in China[39] - As of December 31, 2022, the company provided property management services for 48 cities in China, with a contracted building area of approximately 50.71 million square meters and 249 projects under management[180] Financial Instruments and Deposits - The company’s financial instruments included non-listed fund-linked notes with a face value of USD 6,305,000 (approximately RMB 41,453,000) purchased from a financial institution[167] - The company’s total bank deposits as of December 31, 2022, were RMB 135,050,000, with a significant reduction in pledged deposits compared to previous years[170] - The bank earns interest based on daily bank deposit rates according to floating interest rates[200] Other Financial Metrics - Interest income for the year 2022 was RMB 13.4 million, down from RMB 19.8 million in 2021[46] - Government subsidies received amounted to RMB 4.7 million in 2022, slightly up from RMB 4.4 million in 2021[46] - The company did not recommend the payment of any final dividend for the year ended December 31, 2022[60] - The company did not declare a dividend for the year ended December 31, 2022[141] Investigations and Compliance - The company has suspended trading of its shares since November 16, 2022, due to issues related to bank deposits being pledged[74] - The company is currently under investigation regarding unauthorized financial guarantees related to certain transactions[93] - The company established an independent investigation committee to address certain issues, with Deloitte appointed as the independent advisor[109]

智通财经APP讯，鑫苑服务(01895)发布公告，根据复牌指引，公司应： (a)对未经授权的抵押事项展开独立法证调查工作、评估对公司业务运营和财务状况的影响、公布调查结果、并采取适当的补救措施; (b)证明并无有关管理层诚信及╱或任何对公司管理及经营有重大影响的人士的合理监管问题，乃可能为投资者带来风险及损害市场信心; (c)进行独立内部监控审查，证明公司已有适当内部监控及程序以遵守上市规则的规定; (d)向市场告知所有重要资料，以供公司股东及投资者评估公司的状况; (e)刊发所有尚未公佈的财务业绩及处理任何审核修订; (f)证明其遵守上市规则第13.24条;及 (g)重新遵守上市规则第13.92条。 于本公告日期，公司继续就达成复牌指引回应联交所的意见，惟尚未全面达成复牌指引列载的所有条件。 就复牌指引(a)及(b)项而言，公司已指示独立顾问扩大独立调查的范围，以回应联交所提出的若干事项。公司正与独立顾问合作，加速推进扩大调查，并将遵照上市规则发布公告，以进一步提供有关扩大调查进展的最新情况。 另外，作为公司所采取补救措施的一环，公司一直在积极寻求执行仲裁裁决。于2023年10月31日，鑫苑地产控股的若干附 ...

Financial Performance - Total revenue for the six months ended June 30, 2022, increased by 5.6% to approximately RMB 356.3 million compared to RMB 337.5 million for the same period in 2021[8]. - Net profit for the same period was approximately RMB 65.3 million, reflecting a 1.4% increase from RMB 64.4 million in the prior year[8]. - The overall gross profit for the six months ended June 30, 2022, was approximately RMB 136.1 million, up 12.9% from RMB 120.6 million in the same period of 2021, with a gross profit margin increase from 35.7% to 38.2%[70]. - Property management services accounted for 72.0% of total revenue, generating RMB 256.4 million, an increase of 24.0% from RMB 206.8 million in the previous year[65]. - The company reported a revenue of approximately RMB 356.3 million for the six months ended June 30, 2022, representing an increase of about 5.6% compared to RMB 337.5 million for the same period in 2021[63]. - The net profit attributable to equity holders of the parent company was RMB 64,880,000, representing a slight increase from RMB 64,166,000 in the previous year[171]. - The company reported a profit of RMB 64,166,000 for the six months ended June 30, 2022, which is consistent with the profit of RMB 64,880,000 reported for the same period in 2021, showing stability in earnings[182]. Business Strategy and Development - The company is focused on becoming a leading smart property management operator, emphasizing "strategic upgrade, service upgrade, and organizational upgrade" as key development dimensions[9]. - The company aims to expand its business model through a "1+4+N" strategy, achieving breakthroughs in both business types and regions[9]. - The company has established Xinzhi Technology Co., Ltd. to enhance its external service capabilities and gradually industrialize its technology business[9]. - The company is committed to optimizing its "property + industry + technology" model to drive growth[9]. - The company aims to innovate its business model around three strategic directions: "Xin Property," "Xin Industry," and "Xin Technology" to optimize its property + industry + technology driving model[52]. - The company is actively expanding its service offerings beyond residential properties, targeting office buildings, industrial parks, and schools to diversify its revenue streams[31]. - The company aims to implement a multi-pronged market expansion strategy, focusing on high-quality acquisitions and partnerships to ensure stable and rapid growth[34]. Operational Efficiency and Service Enhancement - The company is enhancing its service offerings, focusing on life services, housekeeping, professional home services, and property maintenance[9]. - The implementation of smart systems led to a 66.7% reduction in inspection costs and a 13.7% increase in parking revenue year-on-year[16]. - The company achieved a 10% year-on-year improvement in per capita management efficiency through organizational upgrades[19]. - The company plans to enhance service quality and operational efficiency through the implementation of smart tools and information systems, focusing on cost control and management efficiency[56]. - The company is enhancing its technology capabilities to support internal and external growth, aiming for digital transformation and improved operational efficiency[61]. Market Expansion and Coverage - The geographical coverage expanded to 53 cities across China, enhancing regional development and service capabilities[23]. - The company is deepening its layout in areas such as community life scenarios and renovation of existing projects[9]. - The company’s non-residential property management accounted for 27% of the signed area in the first half of 2022, indicating a strategic shift towards diversified service offerings[19]. Revenue and Growth in Services - Community value-added income from owner services increased by 46% year-on-year, driven by new service models and community initiatives[15]. - Revenue from home improvement and maintenance services increased by 46% year-on-year, indicating strong demand for community value-added services[38]. - The value-added services segment achieved a revenue of RMB 53,367,000 in the first half of 2022, reflecting a growth from RMB 51,011,000 in the same period of 2021[41]. - In the value-added services segment, revenue increased by 4.6% to RMB 53.4 million, maintaining a stable contribution to overall revenue[65]. Financial Position and Assets - Total non-current assets as of June 30, 2022, amounted to RMB 378,640,000, an increase from RMB 350,983,000 as of December 31, 2021[173]. - Total current assets decreased to RMB 1,055,767,000 from RMB 1,141,792,000 at the end of 2021[173]. - The company's cash and cash equivalents decreased to RMB 642,156,000 from RMB 719,049,000[173]. - The total assets less current liabilities stood at RMB 924,833,000, slightly down from RMB 925,690,000[173]. - The company’s total liabilities and equity as of June 30, 2022, were RMB 913,471,000, reflecting a stable capital structure[178]. Shareholder Information and Corporate Governance - As of June 30, 2022, the total number of issued shares was 567,500,000[130]. - The major shareholder, Xinyuan Real Estate Co., Ltd., holds 300,000,000 shares, representing approximately 52.86% of the equity[143]. - The board of directors did not recommend the payment of an interim dividend for the six months ended June 30, 2022, compared to zero for the same period in 2021[148]. - The company adhered to all provisions of the corporate governance code from January 1, 2022, to June 30, 2022[162]. Cash Flow and Financial Management - The net cash flow from operating activities for the six months ended June 30, 2022, was a negative RMB 14,102,000, compared to a negative RMB 85,095,000 for the same period in 2021, indicating an improvement in cash flow management[183]. - The company’s financial assets and contract assets impairment loss for the six months ended June 30, 2022, was RMB 27,643,000, significantly higher than RMB 4,649,000 for the same period in 2021, indicating increased risk in asset management[183]. - The company’s investment activities generated a net cash inflow of RMB 2,552,000 for the six months ended June 30, 2022, a significant decrease from RMB 151,945,000 in the same period of 2021, indicating a shift in investment strategy[185].

Financial Performance - In 2021, the company achieved a revenue growth of 17.8%, reaching RMB 770 million[26] - The profit for 2021 amounted to RMB 124 million[26] - The company's revenue from property management services in Central China was 437.8 million yuan, accounting for 56.9% of total revenue, while total revenue reached 770.2 million yuan, up from 653.7 million yuan in 2020[52] - Property management service revenue for 2021 reached RMB 446.0 million, a 17.5% increase from RMB 379.9 million in 2020[68] - The gross profit for the year was RMB 266.2 million, a 3.3% increase from RMB 257.7 million in 2020, with a gross margin decline from 39.4% to 34.6%[95] - Net profit for the year was RMB 124.1 million, a decrease of 5.9% from RMB 131.9 million in the previous year, with a net profit margin of 16.1%[104] Business Expansion and Strategy - The company aims to leverage its internal and external resource advantages to expand its asset agency and external engineering construction businesses[26] - The company expanded its business model, with non-residential properties accounting for 51% of new contracted area in 2021[28] - The company is pursuing a diversified cooperation model and seeking acquisition opportunities in the high-quality project market to drive growth[85] - The company plans to focus on five core areas: scale acceleration, service upgrade, business optimization, industry extension, and technology empowerment over the next three to five years[82] - The company aims to enhance its market presence in key regions such as Central China, Bohai Rim, Yangtze River Delta, Pearl River Delta, and Southwest China[83] Operational Efficiency and Internal Control - The company has optimized its internal control mechanisms in response to challenges faced during the year[25] - The company conducted a comprehensive review and optimization of its internal control management with independent auditors and compliance consultants[25] - The company has adopted a model for existing project expansion that focuses on service quality improvement and value enhancement, leading to increased owner satisfaction and fee collection rates[60] - The company completed the upgrade of its service system to "Xin Service 4.0," enhancing its service capabilities across multiple dimensions[33] Customer Satisfaction and Service Offerings - Customer satisfaction for property services improved to 92.4%, an increase of 2.2 percentage points year-on-year[28] - The company has diversified its service offerings to include non-residential properties, with successful expansions in educational and industrial park sectors[65] - The company is expanding its service capabilities across the entire property lifecycle, focusing on community services such as childcare, elderly care, and family services[86] Governance and Management - The company has been actively involved in the appointment of independent directors to enhance governance and oversight[173] - The company emphasizes the importance of experienced leadership in its strategic direction and operational management[176] - The board consists of six members, including one executive director, two non-executive directors, and three independent non-executive directors, ensuring compliance with the requirement that independent directors constitute at least one-third of the board[195] - The company has established three board committees: the Nomination Committee, the Remuneration Committee, and the Audit Committee to oversee specific aspects of its affairs[193] Future Plans and Investments - The company plans to fully utilize the funds for expanding property management services and seeking strategic acquisitions by September 30, 2023[132] - Approximately RMB 96.1 million from the unutilized listing proceeds is allocated for expanding property management services and seeking strategic acquisitions and investment opportunities[137] - The company plans to complete the internal ERP upgrade and other core system constructions in 2022 to improve operational efficiency[135] Awards and Recognition - The company has been recognized with 15 industry awards, including being ranked among the top 15 property service companies in China[32]

Financial Performance - Total revenue for the six months ended June 30, 2021, increased by 29.4% to approximately RMB 337.5 million from RMB 260.8 million for the same period in 2020[11]. - Net profit for the six months ended June 30, 2021, was approximately RMB 64.4 million, a growth of 15.6% compared to RMB 55.7 million for the same period in 2020[11]. - Total revenue for the property management services reached RMB 206,772 thousand, a 22.4% increase from RMB 169,045 thousand in the same period last year[37]. - Gross profit for the same period was RMB 120,587,000, up 16.4% from RMB 103,576,000 year-on-year[159]. - Profit before tax increased to RMB 89,497,000, a rise of 14.4% compared to RMB 78,146,000 in the previous year[160]. - The overall gross profit for the group was approximately RMB 120.6 million, a growth of 16.4% from RMB 103.6 million in the same period last year, with a gross profit margin decreasing from 39.7% to 35.7%[65]. - The company reported a total comprehensive income of RMB 55,299,000 for the six months ended June 30, 2020, compared to RMB 64,166,000 for the same period in 2021, indicating a decline of about 14%[176]. Business Operations - As of June 30, 2021, the company provided property management services in 49 cities in China, with a contracted gross floor area of approximately 57.0 million square meters and an area under management of approximately 36.2 million square meters[12]. - The company aims to become a leading smart property operator, focusing on three development directions: property services, industrial services, and technology[13]. - The company achieved a breakthrough in asset operation and sales, with cumulative sales of RMB 29.2 million and a premium of RMB 15.3 million[15]. - The company has established a market expansion layout focusing on five key regions, including Shandong, Hebei, Anhui, Jiangsu, and Chongqing[15]. - The company is implementing a service upgrade strategy centered on high cost-performance, high satisfaction, and high service experience[13]. - The company has developed a comprehensive service system called "Xinyuan Service 4.0" to enhance service precision and customer satisfaction[13]. - The company is expanding its business into non-residential sectors, including offices, industrial parks, and schools, while maintaining a focus on residential property management[32]. Strategic Initiatives - The company is implementing a market expansion strategy based on a "1+4+N" model, focusing on regional leadership and strategic opportunities[34]. - The company aims to diversify its service offerings while optimizing its business structure to enhance customer satisfaction and service experience[36]. - The company has signed a strategic cooperation agreement with Hikvision to enhance digital transformation in property management[19]. - The company is committed to becoming a leading smart property operation service provider, focusing on quality operations and technological empowerment[47]. - The company plans to innovate its expansion methods through full commission, mergers and acquisitions, and cooperation with state-owned enterprises[53]. Financial Position - Current assets net reached approximately RMB 789.9 million, a 14.2% increase from RMB 691.9 million as of December 31, 2020[73]. - The total equity of the group increased by approximately RMB 100.2 million to RMB 898.1 million, reflecting a growth of 12.6% due to increased economic returns[73]. - The company had no borrowings or bank loans as of June 30, 2021, resulting in a debt-to-equity ratio of zero[84][85]. - The company’s cash flow from investing activities showed a net inflow of RMB 151,945,000 for the six months ended June 30, 2021, compared to a net outflow of RMB 540,011,000 in the previous year[182]. - The cash and cash equivalents at the end of June 30, 2021, amounted to RMB 407,058,000, up from RMB 174,967,000 at the end of June 30, 2020, indicating a significant increase of about 132.5%[182]. Shareholder Information - The ultimate holding company indirectly holds 52.86% of the issued shares of the company, making it the controlling shareholder[119]. - Major shareholder Xinyuan Real Estate Limited holds 300,000,000 shares, representing 52.86% of the total equity[135]. - The company did not recommend any interim dividend for the six months ending June 30, 2021[140]. - A total of 56,250,000 shares were granted under the pre-IPO share incentive plan, representing 9.91% of the issued shares as of June 30, 2021[144][145]. Employee and Management - The company employed approximately 1,562 staff as of June 30, 2021, an increase from approximately 1,392 staff as of December 31, 2020[92]. - The company has adopted a share option scheme post-IPO to incentivize selected participants, effective for 10 years from the adoption date[149]. Compliance and Governance - The company must comply with disclosure and approval requirements for related party transactions due to the applicable percentage rates exceeding 5%[120][122]. - The company’s management discussion highlights the importance of compliance with the Listing Rules regarding related party transactions[122].

Financial Performance - The company achieved operating revenue of RMB 653.7 million in 2020, an increase of approximately 22.4% compared to RMB 534.0 million in 2019[19]. - Net profit for the year was RMB 131.9 million, representing a growth of about 61.1% from RMB 81.9 million in 2019[19]. - The gross profit for the year was RMB 257.7 million, a 27.7% increase from RMB 201.8 million in 2019, with a gross margin improvement from 37.8% to 39.4%[95]. - The net profit for the year was RMB 131.9 million, a 61.1% increase from RMB 81.9 million in the previous year, with a net profit margin of 20.2%[101]. - The revenue contribution by region shows Central China leading with 60.1% (RMB 392,759,000), followed by East China at 25.7% (RMB 167,983,000) and West China at 3.7% (RMB 24,532,000) for 2020[54]. - Property management services contributed RMB 379.9 million, accounting for 58.1% of total revenue, while value-added services and pre-delivery and consulting services contributed RMB 132.0 million (20.2%) and RMB 141.9 million (21.7%) respectively[92]. Growth and Expansion - The total area under property management contracts reached approximately 53.0 million square meters, a growth of about 43.2% from 37.0 million square meters at the end of 2019[19]. - Managed area increased to approximately 34.7 million square meters, up 72.8% from 20.1 million square meters in 2019[19]. - The company managed 176 projects across 45 cities, providing services to over 220,000 households[19]. - The number of contracted projects increased to 237, reflecting a year-on-year growth of 35.4%[40]. - The company expanded its third-party market presence, signing 3.6 million square meters of new commission contracts and acquiring 10.6 million square meters through the acquisition of Chongqing Hongqi Property[22]. - The company plans to expand its business model into industrial parks, schools, and hospitals, optimizing its operational structure[38]. Strategic Initiatives - The company aims to become a leading smart property operator, focusing on scale expansion, operational efficiency, and value-added services[29]. - The company has formed a comprehensive asset operation system, integrating planning, marketing, renovation, sales, and management for existing assets[25]. - The company is focusing on digital transformation to enhance operational efficiency and customer service experience, transitioning from ERP to EBC systems[90]. - The company has established a service system categorized into four types: residential community services, industrial park services, government public services, and urban public services[38]. - The company is actively exploring new cooperation models and expanding into new areas such as urban renovation projects[84]. Corporate Governance - The company has adhered to the corporate governance code as per the Hong Kong Stock Exchange listing rules throughout 2020, with exceptions noted for attendance at the annual general meeting[171]. - The company emphasizes high standards of corporate governance as essential for sustainable growth and protecting shareholder interests[170]. - The board consists of seven members, including two executive directors, two non-executive directors, and three independent non-executive directors[175]. - The company has established three board committees: the Nomination Committee, the Remuneration Committee, and the Audit Committee to oversee specific aspects of governance[172]. - The company has a commitment to maintaining a balance of power by separating the roles of the Chairman and the CEO[172]. Social Responsibility and Sustainability - The company emphasized its role in social responsibility during the pandemic, enhancing its professional value in property management[18]. - The management team emphasized the importance of sustainability initiatives, aiming for a 50% reduction in carbon footprint by 2025[1]. - The company is committed to ethical conduct and compliance with applicable laws and regulations in all its operations[173]. Future Outlook - The company has set a future outlook with a revenue guidance of $600 million for the next fiscal year, indicating a projected growth of 20%[1]. - New product launches are expected to contribute an additional $50 million in revenue, with a focus on innovative technology solutions[1]. - The company plans to invest $20 million in research and development for new technologies aimed at improving service efficiency[1].