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 就因本公告全部或任何部分內容而產生或因依賴該等內容而引致的任 何損失承擔任何責任。 First Service Holding Limited 第 一 服 务 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：2107） 截 至2022年12月31日 止 年 度 之 全 年 業 績 公 告 摘 要 • 截 至2022年12月31日 止 年 度 的 收 益 約 為 人 民 幣1,122.3百 萬 元，與 截 至2021年12月31日止年度的約人民幣1,119.9百萬元相比增幅約0.2%。 本 集 團 核 心 業 務 物 業 管 理 服 務 產 生 的 收 益 穩 步 增 長 至 約 人 民 幣 766.8百萬元，較截至2021年12月31日止年度的約人民幣611.1百萬元 增加約25.5%。 • 截 至2022年12月31日 止 年 度 的 溢 利 約 為 人 民 幣50.5百 萬 元，與 截 至 2021年12月31日 止 年 度 的 約 人 民 幣33.6百 萬 ...

Financial Performance - Total revenue for the first half of 2022 reached RMB 553.2 million, representing an 8.7% year-on-year increase[10]. - Property management service revenue was RMB 361.5 million, a significant increase of 49.1% compared to the previous year[10]. - The company reported a pre-tax profit of RMB 33.2 million, down from RMB 93.2 million in the same period last year, indicating a decrease of 64.4%[8]. - Net profit for the period was RMB 25.1 million, a decrease of 65.0% from RMB 71.8 million in the previous year[8]. - Revenue increased by approximately 8.7% from RMB 508.8 million in the six months ended June 30, 2021, to RMB 553.2 million in the same period of 2022[27]. - Profit decreased by approximately 65.0% from RMB 71.8 million in the six months ended June 30, 2021, to RMB 25.1 million in the same period of 2022, primarily due to the overall downturn in the Chinese real estate market[26]. - Gross profit decreased approximately 18.6% from RMB 170.8 million in the six months ended June 30, 2021, to RMB 139.1 million in the same period of 2022, with the gross margin dropping from 33.6% to 25.1%[42]. - The total comprehensive income for the period was RMB 35,899,000, compared to RMB 67,297,000 in the same period of 2021, indicating a decline of about 46.5%[127]. Assets and Liabilities - The total assets as of June 30, 2022, amounted to RMB 1,360.6 million, slightly up from RMB 1,357.9 million at the end of 2021[8]. - Total liabilities increased from RMB 684.4 million as of December 31, 2021, to RMB 711.1 million as of June 30, 2022, resulting in a debt-to-asset ratio increase from 50.4% to 52.3%[55]. - Trade and other receivables increased approximately 16.1% from RMB 425.0 million as of December 31, 2021, to RMB 493.4 million as of June 30, 2022, aligning with revenue growth[51]. - The company's total equity attributable to equity shareholders decreased to RMB 609,340 thousand from RMB 637,478 thousand, reflecting a decline of approximately 4.4%[132]. Operational Developments - The company actively engaged in community service initiatives, conducting 539 community cultural activities during the first half of the year[11]. - The company has contracted property management services in 104 cities across 25 provincial-level regions in China, with plans to actively expand into the western region[15]. - The company has launched a digital twin smart city service platform, "Blueprint," integrating urban services with digital twin technology, covering five major areas including municipal sanitation and community management[15]. - The AI intelligent operation and maintenance cloud platform has been deployed in 4 projects, achieving energy savings estimated between 10% and 30%[15]. - The company has expanded its value-added service categories to include community elderly care services, with a focus on a "full life cycle + full life scene" service model[15]. Market and Competitive Position - The company ranked sixth in the non-residential service sector in the 2022 China Property Service Listed Company Rankings[11]. - The company aims to enhance its property management business scale and brand awareness, targeting core cities and expanding market resources within a 5-kilometer radius of existing projects[18]. Shareholder and Governance Information - The final dividend for the year ended December 31, 2021, was HKD 0.0677 per share, totaling HKD 67.7 million, approved on June 21, 2022, and paid in cash on July 12, 2022[63]. - No interim dividend was recommended for the six months ended June 30, 2022[64]. - The company confirmed that there were no other disclosures required under the Listing Rules as of June 30, 2022[86]. - The company’s independent non-executive directors confirmed compliance with the standard code for securities transactions during the six months ended June 30, 2022[82]. Employee and Corporate Structure - The group employed 4,067 staff as of June 30, 2022, all based in China, with a focus on attracting and retaining qualified personnel[71]. - The employee stock fund was established to retain and attract qualified personnel for the group's ongoing operations and development[191]. Cash Flow and Investments - The company experienced a net cash outflow from operating activities of RMB 61,170 thousand for the six months ended June 30, 2022, compared to a net inflow of RMB 770 thousand in the same period of 2021[139]. - The company recorded cash inflows from investing activities of RMB 87,529 thousand, a significant improvement compared to a cash outflow of RMB 176,250 thousand in the same period of the previous year[139]. - The company reported a significant increase in cash received from the sale of financial assets at fair value, totaling RMB 256,721 thousand, compared to RMB 145,310 thousand in the prior year[139]. Compliance and Audit - The group’s financial report has been reviewed by KPMG and approved by the board on August 23, 2022, ensuring compliance with relevant accounting standards[142]. - The audit committee, consisting of three independent non-executive directors, reviewed the interim results for the six months ended June 30, 2022, and confirmed compliance with applicable accounting standards and regulations[83].

Financial Performance - In 2021, First Service Holding Limited reported revenue of RMB 1,119,869,000, a 44.4% increase from RMB 775,367,000 in 2020[11]. - The company achieved a net profit of RMB 33,609,000 in 2021, down 66.3% from RMB 99,603,000 in 2020[11]. - Revenue increased by approximately 44.4% from RMB 775.4 million in 2020 to RMB 1,119.9 million in 2021, driven by a 172.9% increase in managed building area from 19.1 million square meters to 52.1 million square meters[74]. - Property management service revenue rose about 90.0% from RMB 321.6 million in 2020 to RMB 611.1 million in 2021, attributed to an increase in the number of managed projects from 52 to 383[76]. - The green living solutions business generated revenue of RMB 195.9 million in 2021, while value-added services achieved revenue of RMB 312.9 million, with community value-added services growing by 32.1% to RMB 159.7 million[58]. - Gross profit rose by approximately 25.4% to RMB 335.4 million for the year ended December 31, 2021[90]. - Gross margin decreased from 34.5% for the year ended December 31, 2020, to 29.9% for the same period in 2021[91]. - Sales costs increased by approximately 54.5% to RMB 784.5 million for the year ended December 31, 2021, consistent with business expansion[88]. - Expected credit losses on trade receivables and contract assets increased by approximately 1,008.8% from RMB 10.2 million for the year ended December 31, 2020, to RMB 113.1 million for the year ended December 31, 2021[96]. - The company reported a significant decrease in profit from RMB 99.6 million in 2020 to RMB 33.6 million in 2021, primarily due to credit loss provisions related to real estate clients[74]. Operational Growth - As of December 31, 2021, the company managed 451 projects covering an area of 52.06 million square meters, representing a year-on-year growth of 173%[14]. - The number of contracted projects reached 539, with a total contracted area of 74.02 million square meters, a year-on-year increase of 98%[14]. - Third-party managed area increased to 37.83 million square meters, up 426% year-on-year, while contracted area from third parties grew by 201% to 47.32 million square meters[14]. - The total number of managed properties increased to 539 with a total contracted area of 74,022 thousand square meters, representing a 100% share of the total[79]. - The number of residential properties managed rose to 245, with a contracted area of 49,087 thousand square meters, accounting for 66.3% of the total[79]. - The company expanded its service offerings to include residential, public, commercial, and other property management, with managed areas of 27.9 million square meters, 6.9 million square meters, and 17.2 million square meters respectively[57]. Strategic Initiatives - In 2021, First Service Holding Limited entered into strategic partnerships with Dalian Yahang and Qingdao Luohang, enhancing its service capacity in the Bohai Rim region[13]. - The company aims to optimize operational efficiency and revenue through the expansion of third-party business and diversification of property management types[16]. - The company plans to continue expanding its property management business and enhance brand recognition, focusing on core cities and improving project management post-acquisition[61]. - The company plans to explore the "smart city services" sector by integrating digital twin technology with urban services, aiming to provide decision-making support for city management[62]. - The company aims to enhance smart community development by integrating 5G and IoT technologies, improving service efficiency and customer experience[65]. - The company is pursuing strategic acquisitions in the property management sector, with a target of completing at least two major deals within the next 12 months[166]. Corporate Social Responsibility - The company has been committed to corporate social responsibility, engaging in charitable activities and supporting education initiatives[45]. - The company actively promoted green and low-carbon property service concepts, winning several awards for its initiatives in waste classification and environmental sustainability[35]. - The company played a significant role in pandemic prevention efforts, receiving recognition from local governments and communities for its contributions[40]. - The company was awarded the title of "Advanced Unit in Pandemic Prevention and Control" by various local authorities[41]. Governance and Management - The company has established a strong governance structure with experienced directors overseeing its strategic initiatives[147]. - The board consists of 4 executive directors, 2 non-executive directors, and 3 independent non-executive directors, ensuring compliance with listing rules regarding board composition[177]. - The company has a focus on strategic planning and operational management, with Long Han responsible for leading overall development strategies since 2020[152]. - The management team includes independent non-executive directors with extensive experience in finance and property management, enhancing corporate governance[155][156]. - Continuous professional development is encouraged for all directors, with regular updates on company performance and regulatory changes provided[184]. Future Outlook - Future outlook indicates a projected revenue growth of 15% for the upcoming fiscal year, driven by new product launches and market expansion strategies[163]. - The company plans to expand its market presence by entering three new cities in China by the end of 2023, aiming for a 25% increase in market share[166]. - The company has established a new partnership with a leading technology firm to enhance its service offerings, expected to generate an additional $5 million in revenue annually[167]. - The company has set a goal to reduce operational costs by 10% through improved resource management and technology integration[168].

Financial Performance - First Service Holding Limited reported a strong performance with a revenue increase of 23% year-over-year for the first half of 2021[29]. - Total revenue for the six months ended June 30, 2021, was approximately RMB 508.8 million, representing an increase of about 53.7% compared to RMB 330.9 million for the same period in 2020[31]. - Profit before tax for the same period was RMB 93.2 million, up approximately 100.0% from RMB 46.3 million in 2020[31]. - Net profit for the six months ended June 30, 2021, was approximately RMB 71.8 million, reflecting a growth of about 109.9% compared to RMB 34.2 million in 2020[40]. - The company achieved a net profit margin of 14.1%, an increase of approximately 0.7 percentage points compared to the same period in 2020[40]. - Revenue increased by approximately 53.8% from RMB 330.9 million in the six months ended June 30, 2020, to RMB 508.8 million in the same period of 2021[48]. - Property management service revenue rose by about 74.2% from RMB 139.2 million to RMB 242.4 million, driven by a 245.3% increase in managed building area from 15.4 million square meters to 53.2 million square meters[49]. - The company recorded total assets of RMB 1,405.0 million as of June 30, 2021, compared to RMB 1,213.8 million as of December 31, 2020[31]. - The company’s equity attributable to owners was approximately RMB 673.7 million, an increase from RMB 652.9 million in the previous year[31]. - The company reported a significant increase in cash and cash equivalents, totaling RMB 548,468 thousand, compared to RMB 734,040 thousand at the end of 2020[142]. Operational Expansion - The company expanded its operational footprint to cover 103 cities across 25 provinces, establishing 10 regional companies by June 30, 2021[30]. - The company managed a total contracted area of approximately 73.0 million square meters and a total area under management of about 53.2 million square meters as of June 30, 2021[37]. - The company expanded its property management services to 103 cities across 25 provinces, municipalities, and autonomous regions in China[37]. - The number of managed properties surged from 30 to 369 due to acquisitions, enhancing the diversity of property types managed[49]. - The total number of contracted property management projects increased to 555, with a total contracted building area of 72,994 thousand square meters[51]. - The total number of managed properties increased to 457 with a managed building area of 53,202 thousand square meters, representing a 21.4% increase from 2020[53]. - The number of contract projects rose to 555, with a total contract building area of 72,994 thousand square meters, marking a 25.7% increase compared to the previous year[54]. Strategic Initiatives - Future outlook includes continued investment in green technology and digital integration to enhance customer living experiences[29]. - The company is focused on expanding its service offerings in residential, villa, office, hospital, university, and industrial park sectors[30]. - First Service Holding Limited aims to leverage its comprehensive management capabilities and green technology brand advantages for market growth[30]. - The company is committed to providing green and healthy living experiences through its technology-driven services[29]. - First Service Holding Limited's strategic initiatives include enhancing community operation services and building technology consulting capabilities[29]. - The company plans to further penetrate the market by developing new products and technologies to meet evolving customer needs[29]. - The company plans to strategically acquire or invest in small to medium-sized property management companies, focusing on regions such as Beijing-Tianjin-Hebei and the Yangtze River Delta[42]. - The company aims to develop smart communities and enhance its IT systems to improve management efficiency and user experience[42]. - The company is committed to continuous research and commercialization of green technology, aligning with national dual carbon strategies[43]. Corporate Governance - The company is committed to maintaining high standards of corporate governance and has complied with all applicable code provisions[100]. - The company has established an audit committee to review the integrity and accuracy of financial information[103]. - The board of directors did not recommend any interim dividend for the six months ended June 30, 2021[102]. - The company has no record of purchasing, selling, or redeeming any of its listed securities during the reporting period[105]. - The company has no changes in the board of directors that require disclosure under the listing rules[104]. - The company has no additional disclosures regarding the interests of directors and senior management in shares or related securities as of June 30, 2021[116]. Employee and Talent Management - As of June 30, 2021, the company had a total of 3,502 employees, all located in China[93]. - The company is focused on attracting and nurturing talent to ensure long-term sustainable growth[44]. - The company aims to attract and cultivate talent, with plans to expand recruitment activities for its talent programs[95]. Cash Flow and Investments - The company experienced a net cash outflow from investing activities of RMB 176,250,000, compared to a cash inflow of RMB 120,484,000 in the previous year[152]. - The company raised RMB 22,076,000 from bank borrowings during the reporting period[154]. - The company incurred a net cash outflow of RMB 5,400,000 from financing activities, a decrease from RMB 129,108,000 in the previous year[154]. - The company’s cash and cash equivalents decreased by approximately 25.3% from RMB 734.0 million as of December 31, 2020, to RMB 548.5 million as of June 30, 2021, mainly due to cash used for acquisitions[79]. Shareholder Information - Major shareholder Zhang Lei owns 395,559,000 shares (39.56%) and his spouse, Yu Jinmei, holds the same amount[118]. - The total shares held by the family group, including Zhang Peng and Zhang Lei, account for approximately 57.46% of the company's issued shares as of June 30, 2021[113]. - The interests of major shareholders in shares and related securities have been disclosed, with significant holdings from entities controlled by Zhang Lei and other related parties[119]. Compliance and Reporting - The company’s financial report for the six months ending June 30, 2021, complies with the International Accounting Standard 34 for interim financial reporting[135]. - The review of the interim financial report was conducted in accordance with the Hong Kong Institute of Certified Public Accountants' standards, confirming no significant issues were found[135]. - The group has applied several revised international financial reporting standards during the current accounting period, but these revisions did not have a significant impact on the group's performance or financial position[159].

Financial Performance - In 2020, First Service Holding Limited achieved revenue of RMB 771.8 million, a 23.6% increase from RMB 624.7 million in 2019[26]. - The company reported a profit before tax of RMB 123.9 million, up 15.9% from RMB 106.9 million in the previous year[26]. - The company recorded revenue of approximately RMB 771.8 million for the year ended December 31, 2020, representing a growth of about 23.5% compared to 2019[57]. - Gross profit was approximately RMB 267.3 million, an increase of about 22.9% year-over-year[57]. - Profit for the year reached approximately RMB 101.9 million, reflecting a growth of about 21.5% from the previous year[57]. - The company recorded a profit of approximately RMB 119.7 million in 2020, representing an increase of about 41.5% compared to 2019, with a net profit margin rising by two percentage points to approximately 15.5%[67]. - Net profit rose by 21.5% from RMB 83.9 million in 2019 to RMB 101.9 million in 2020, driven by an increase in managed gross floor area from 13.7 million square meters to 19.1 million square meters[82]. - Property management services generated revenue of approximately RMB 321.6 million, a 17.9% increase compared to the previous year[84]. - Green living solutions revenue reached RMB 193.5 million, up from RMB 154.6 million in 2019, with energy operation services contributing RMB 101.9 million[90]. - Value-added services revenue totaled RMB 256.7 million, an increase from RMB 197.3 million in 2019, with agency services accounting for RMB 135.2 million[94]. Customer and Market Growth - Total customer households reached 79,560, representing a 13.8% growth compared to the previous year[32]. - The total number of managed projects increased from 94 in 2019 to 131 in 2020, with the managed gross floor area growing from 13.69 million square meters to 19.08 million square meters[85]. - The company signed 105 new projects in 2020, with a total contract value of RMB 240 million, covering various project types[32]. - The third-party signed area increased by 61.9% year-on-year, reaching 15.7 million square meters, accounting for 42.2% of the total signed area[32]. - The company secured a total contracted gross floor area of approximately 37.3 million square meters from 232 contracted projects as of December 31, 2020[88]. - The number of contracts from third-party developers increased significantly, contributing to the overall growth in managed area[88]. Strategic Initiatives and Future Plans - The company aims to leverage its strong technical research and application capabilities in green technology and smart community platforms to enhance its market position[61]. - The company plans to expand its market presence by enhancing its service offerings and leveraging its multi-industry platform capabilities[61]. - The company plans to continue expanding its property management business and aims to strengthen relationships with IoT service providers and engage in more marketing activities targeting third-party developers[69]. - The company aims to enhance its digital technology systems and develop smart communities to improve customer experience and operational performance[73]. - The company is committed to ongoing research and commercialization of green technology systems, including energy systems related to geothermal heat pump technology[74]. - Future outlook includes further market expansion and potential acquisitions to enhance service capabilities and market presence[89]. Corporate Governance and Management - The company has a strong management team with over 20 years of experience in financial matters, including independent non-executive director Sun Jing, who has a background in internet information and technology services[154]. - The management team includes professionals with extensive experience in property management and engineering, such as Long Han and Pan Fengwei, who have over 11 years and 15 years of experience respectively[152][161]. - The company has established a strong presence in the real estate sector, with directors having significant experience in property management and urban development[157]. - The board consists of 4 executive directors, 2 non-executive directors, and 3 independent non-executive directors, ensuring compliance with listing rules regarding independent directors[173]. - The company has adopted a board diversity policy aiming for at least 20% female representation on the board, currently having one female executive director and two female independent non-executive directors[178]. - The company has implemented appropriate liability insurance for directors against legal actions[172]. - The board of directors confirmed that corporate governance is a shared responsibility among directors, including reviewing compliance with laws and regulations[195]. Financial Position and Assets - As of December 31, 2020, total assets amounted to RMB 1.21 billion, with total liabilities of RMB 537.7 million[27]. - Total assets grew from RMB 720.2 million in 2019 to RMB 1,212.0 million in 2020, while total liabilities increased from RMB 443.5 million to RMB 537.7 million[115]. - Current ratio improved from 1.51 in 2019 to 2.16 in 2020, indicating better liquidity[116]. - Cash and cash equivalents increased by 181.3% from RMB 260.1 million in 2019 to RMB 731.7 million in 2020, primarily due to proceeds from global offerings[117]. - Trade and other receivables increased by RMB 123.8 million or 67.3% to RMB 307.8 million as of December 31, 2020, due to business expansion[113]. Recognition and Awards - The company was awarded the title of "Top 100 Property Service Companies in China" and "Leading Company in Property Service Quality" in May 2020[45]. - The company was recognized as "Advanced Collective in Fighting COVID-19" in Beijing, highlighting its commitment to community health and safety during the pandemic[58]. - The company was recognized as an advanced collective in the fight against COVID-19 in Beijing[30]. Listing and Shareholder Information - First Service Holding Limited was successfully listed on the Hong Kong Stock Exchange on October 22, 2020, under stock code 2107[21]. - The board proposed a final dividend of HKD 0.0397 per share, totaling HKD 39.7 million, subject to shareholder approval[122]. - The net proceeds from the global offering amounted to approximately HKD 571.2 million, with specific allocations for strategic acquisitions and investments in property management companies[131]. - 50% of the net proceeds (approximately HKD 285.6 million) is allocated for strategic acquisitions or investments in property management companies, expected to be utilized by the end of 2023[133].