Financial Performance - The company's revenue for the year ended December 31, 2024, was RMB 652.9 million, an increase of 7.2% compared to RMB 609.1 million in 2023[3] - The gross profit for the year ended December 31, 2024, was RMB 183.5 million, a decrease of 5.7% from RMB 194.7 million in 2023[3] - The net profit for the year ended December 31, 2024, was RMB 86.2 million, down 17.6% from RMB 104.6 million in 2023[3] - The total comprehensive income for the year ended December 31, 2024, was RMB 85.5 million, compared to RMB 104.1 million in 2023[5] - The gross profit for 2024 was approximately RMB 183.5 million, representing a decline of 5.7% year-over-year[28] - Net profit for 2024 was approximately RMB 86.2 million, a decrease of 17.6% from RMB 104.5 million in 2023[28] - The total tax expense for 2024 was RMB 18.1 million, a decrease from RMB 22.9 million in 2023[21] - The profit attributable to the company's owners for the year was approximately RMB 81.5 million, a decrease of about 19.9% compared to RMB 101.9 million in the same period last year[61] Revenue Sources - Revenue from property management services was RMB 579.7 million, up from RMB 519.8 million in 2023[11] - Revenue from non-owner value-added services decreased to RMB 22.4 million from RMB 43.3 million in 2023[11] - Revenue from community value-added services increased to RMB 50.9 million from RMB 46.0 million in 2023[11] - Property management services remained the largest revenue source, contributing RMB 579.7 million, which accounted for 88.8% of total revenue[55] - The revenue from residential properties was RMB 434.1 million, accounting for 74.9% of total property management service revenue[44] - Non-owner value-added services revenue decreased by 48.3% to approximately RMB 22.4 million, primarily due to declines in sales office management and pre-planning consulting services[49] - Community value-added services revenue grew by 10.6% to approximately RMB 50.9 million, driven by increases in community space management and retail services[51] Project and Management Overview - The company had 280 signed projects with a total signed construction area of 36.8 million square meters as of December 31, 2024[3] - The number of managed projects increased to 272 in 2024, with a total managed area of 31,565 thousand square meters, generating revenue of RMB 579.7 million[54] - The company has signed management services for 280 properties, with a total contracted building area of 36.8 million square meters, compared to 253 properties and 36.372 million square meters in the previous year[38] - As of December 31, 2024, the total contracted building area managed by the company is approximately 36.8 million square meters, an increase of 1.3% compared to the previous year[33] - The number of properties under management increased to 272, up 4.8% from 249 properties in the previous year[34] - The total managed building area reached approximately 31.6 million square meters, reflecting a growth of 4.8% year-over-year[34] - The company expanded its regional coverage to 33 cities, 9 provinces, 1 autonomous region, and 1 municipality[35] Dividends and Shareholder Information - The company did not recommend the payment of a final dividend for the year ended December 31, 2024, consistent with 2023[3] - The company has no dividends declared or proposed for the fiscal year ending December 31, 2024[22] - The board did not recommend the payment of a final dividend for the year ended December 31, 2024[79] - The company plans to hold its annual general meeting on May 30, 2025[86] - The share register will be closed from May 27, 2025, to May 30, 2025, to determine shareholders' eligibility to attend and vote at the annual general meeting[87] Operational Efficiency and Strategy - The company is focusing on expanding its operations in Southwest China and Xinjiang, aiming for a diversified market approach[28] - The company has implemented the "Landsea 3.0" strategy to enhance its standardized system and operational efficiency[28] - The company continues to focus on acquiring a larger market share and expanding its business layout in China[31] - The company aims to further enrich community value-added services, which typically generate higher profit margins compared to other property management services[32] Financial Position and Assets - The company's total assets less current liabilities amounted to RMB 631.8 million as of December 31, 2024, compared to RMB 550.8 million in 2023[7] - Cash and bank balances amounted to approximately RMB 712.9 million as of December 31, 2024, up from RMB 602.9 million in the previous year[66] - The current ratio remained stable at approximately 2.8 as of December 31, 2024, consistent with the previous year[67] - Trade receivables increased to RMB 180.8 million in 2024 from RMB 155.6 million in 2023, with a provision for impairment of RMB 45.2 million[25] - Trade receivables increased by approximately RMB 14.6 million or 12.0% to RMB 135.6 million as of December 31, 2024, due to revenue growth from increased managed building area[62] Governance and Compliance - The audit committee has been established in accordance with Listing Rule 3.21 and the Corporate Governance Code, consisting of three independent non-executive directors[84] - The audit committee reviewed and agreed with the management on the annual performance for the year ending December 31, 2024[84] - The group's auditor, Shinewing (HK) CPA Limited, confirmed that the figures in the consolidated income statement and other comprehensive income, consolidated financial position, and related notes are consistent with the group's financial statements for the year[85] - The board of directors includes executive and non-executive members, ensuring a diverse governance structure[90] Expenses and Costs - Administrative expenses increased by approximately 7.1% to about RMB 60.6 million from RMB 56.6 million in the same period last year, primarily due to rising labor costs[59] - The sales cost for the group was approximately RMB 469.4 million, an increase of about 13.3% compared to RMB 414.4 million in 2023[56] - Income tax expenses decreased by approximately 21.3% to about RMB 18.1 million from RMB 23.0 million in the previous year, aligning with the trend of declining profits[60] - The total employee cost for the year was approximately RMB 313.1 million, an increase from RMB 269.5 million in the previous year, with a total of 5,786 employees as of December 31, 2024[75]

Property Management Growth - As of June 30, 2024, the company managed 267 properties, an increase from 228 properties in the previous year, representing a growth of 17.1%[21] - The total managed building area reached approximately 31.68 million square meters, up 21.7% from 26.04 million square meters in the same period last year[21] - The number of contracted management properties increased to 272, compared to 257 in the previous year, marking a growth of 5.8%[21] - The total contracted building area was approximately 35.67 million square meters, a decrease of 7.8% from 38.69 million square meters in the previous year[21] - As of June 30, 2024, the company has expanded its coverage to 36 cities, 9 provinces, 1 autonomous region, and 1 municipality, managing a total of 267 projects with a total managed area of 31,680 thousand square meters[22] - The company signed contracts for 272 projects with a total signed area of 35,665 thousand square meters as of June 30, 2024, compared to 257 projects and 38,689 thousand square meters in 2023[27] Revenue Performance - The annual revenue from property management services reached RMB 276,291 thousand, representing a 10.1% increase from RMB 250,848 thousand in the same period of 2023[22] - Total revenue for the group was approximately RMB 313.3 million, an increase of about 6.3% compared to RMB 294.7 million in the same period of 2023[42] - Property management services generated revenue of approximately RMB 276.3 million, accounting for 88.2% of total revenue, driven by an increase in managed building area[44] - The company reported a 10.1% increase in total revenue from property management services compared to the previous year, reflecting strong operational performance[22] - The profit for the period was RMB 60,326 thousand, compared to RMB 58,656 thousand in the previous year, reflecting a growth of approximately 2.8%[83] Service Offerings and Strategy - The company aims to expand its market share and enhance its business layout in China, focusing on community value-added services which typically yield higher profit margins[19] - The company has diversified its service offerings across property management, non-owner value-added services, and community value-added services[17] - The company continues to strengthen its community value-added service offerings to meet resident needs and enhance financial performance[19] - The company has established a development strategy focusing on Southwest China and Xinjiang, aiming to create two growth poles[15] - The company plans to maintain its service philosophy of "Companionship and Touch" while focusing on quality and customer value creation in the second half of 2024[16] Financial Metrics - The gross profit decreased by 0.8% to approximately RMB 99.6 million, with a gross profit margin of 31.8%, down 2.3 percentage points from 34.1% in 2023[46] - Administrative expenses rose by approximately 12.1% to about RMB 27.5 million, mainly due to increased labor costs[47] - Sales costs increased by approximately 10.0% to about RMB 213.7 million, attributed to the rise in operational costs from the increased managed building area[45] - The gross profit margin for property management services was 30.2%, down from 32.7% in 2023, reflecting increased operational costs[46] - The company's profit attributable to owners for the reporting period was approximately RMB 58.0 million, an increase of about 7.6% compared to RMB 53.9 million in the same period of 2023[49] Cash Flow and Assets - As of June 30, 2024, total assets amounted to RMB 894,337 thousand, a slight decrease from RMB 894,616 thousand as of December 31, 2023, reflecting a 0.03% decline[84] - Current assets increased to RMB 850,022 thousand from RMB 792,338 thousand, representing a growth of 7.3%[84] - Cash and bank balances improved to RMB 640,001 thousand, an increase of 6.1% from RMB 602,924 thousand[84] - The company’s net current assets improved to RMB 566,691 thousand, a rise of 12.1% from RMB 505,549 thousand[84] - The total liabilities decreased slightly to RMB 284,369 thousand from RMB 287,929 thousand, showing a reduction of 1.8%[84] Shareholder Information - As of June 30, 2024, the company has a total of 285,685,000 shares issued, with significant shareholdings by major stakeholders[71] - Wang Tao and Hou Sanli each hold 100% beneficial ownership of Tianyue Capital and Linghui Capital, respectively[69] - Liu Haowei holds 213,313,000 shares, representing 74.67% of the controlled company[70] - Tianyue Holding has a beneficial ownership of 68,960,430 shares, accounting for 24.14% of the company[70] - The company’s major shareholders have agreed to act in concert regarding significant management matters and decisions[68] Future Outlook - The company provided a future outlook, projecting a revenue growth of 25% for the next fiscal year, aiming for RMB 625 million[123] - New product launches are expected to contribute an additional RMB 100 million in revenue by Q4 2024[124] - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2025[123] - Research and development expenses increased by 30%, totaling RMB 50 million, focusing on innovative technologies[124] - The company announced plans for a strategic acquisition to enhance its service offerings, with an estimated cost of RMB 200 million[123]

Financial Performance - For the six months ended June 30, 2024, the revenue was RMB 313.3 million, an increase of 6.3% compared to RMB 294.7 million in the same period of 2023[1]. - The gross profit for the same period was RMB 99.6 million, a decrease of 0.8% from RMB 100.4 million in 2023[2]. - The net profit for the six months ended June 30, 2024, was RMB 60.3 million, reflecting a growth of 2.8% from RMB 58.7 million in 2023[2]. - The basic and diluted earnings per share for the period were RMB 0.20, compared to RMB 0.19 in the same period of 2023[2]. - Total revenue for the six months ended June 30, 2024, was RMB 313,294 thousand, an increase from RMB 294,658 thousand for the same period in 2023, representing a growth of approximately 6.0%[13]. - The group reported a decrease in other income and gains to RMB 3.3 million from RMB 4.2 million in the previous year[2]. - The administrative expenses increased to RMB 27.5 million from RMB 24.5 million in the same period of 2023[2]. - The group reported a pre-tax profit after accounting for various costs, including a goodwill impairment of RMB 4,302 thousand in the prior year, which was not present in the current period[16]. - The income tax expense decreased by approximately 14.8% to RMB 11.2 million, primarily due to contributions from companies benefiting from preferential tax rates[51]. - The profit attributable to the owners of the company was approximately RMB 58.0 million, an increase of about 7.6% compared to RMB 53.9 million in the same period of 2023[52]. Project Management and Operations - As of June 30, 2024, the group had 272 signed projects with a total signed construction area of 35.7 million square meters, and 267 projects under management with a total managed area of 31.7 million square meters[1]. - The total number of properties under management was 267, an increase from 228 properties in the same period of 2023, reflecting a growth of 17.1%[27]. - The total contracted gross floor area managed by the company as of June 30, 2024, was approximately 31.68 million square meters, which is a 21.7% increase from 26.03 million square meters in the same period of 2023[27]. - The total contracted management projects increased to 272 as of June 30, 2024, compared to 257 in the same period of 2023, marking a growth of 5.8%[27]. - The company signed 272 new projects in 2024, covering a construction area of 35,665 thousand square meters, with 3,985 thousand square meters remaining uncompleted as of June 30, 2024[37]. - The company managed a total of 267 projects with a construction area of 31,680 thousand square meters, generating revenue of RMB 276,291 thousand for the six months ending June 2024, representing a 10.1% increase from RMB 250,848 thousand in the same period of 2023[36]. - Revenue from projects managed for Landsea Holdings accounted for 66.4% of total revenue, with 94 projects and a construction area of 16,431 thousand square meters[36]. Revenue Breakdown - Property management service revenue reached RMB 276,291 thousand for the six months ended June 30, 2024, compared to RMB 250,848 thousand in the prior year, reflecting an increase of about 10.1%[14]. - Non-owner value-added services revenue decreased to RMB 9,910 thousand from RMB 20,603 thousand, a decline of approximately 51.9%[13]. - Community value-added services revenue increased to RMB 27,093 thousand from RMB 23,207 thousand, marking a growth of around 16.4%[13]. - Property management services generated revenue of approximately RMB 276.3 million, accounting for 88.2% of total revenue, driven by an increase in managed building area[46]. - The company's revenue from joint ventures with Landsea Holdings Group was RMB 14,722 thousand, accounting for 5.3% of total revenue[36]. - The company's revenue from property management services in Guangdong Province was RMB 13,325 thousand, representing 4.8% of total revenue[29]. Assets and Liabilities - Total assets less current liabilities amounted to RMB 611.0 million as of June 30, 2024, compared to RMB 550.8 million as of December 31, 2023[5]. - The total equity as of June 30, 2024, was RMB 609.9 million, an increase from RMB 549.7 million as of December 31, 2023[5]. - The company's trade receivables as of June 30, 2024, amounted to RMB 154,456,000, up from RMB 121,032,000 as of December 31, 2023, indicating a significant increase of 27.5%[21]. - The total trade payables as of June 30, 2024, were RMB 28,564,000, a decrease from RMB 31,404,000 as of December 31, 2023, reflecting a reduction of 9.3%[22]. - As of June 30, 2024, the company's prepaid expenses, deposits, and other receivables amounted to RMB 416 million, a decrease of approximately 14.4% from RMB 486 million as of December 31, 2023[54]. - As of June 30, 2024, the company's trade payables were approximately RMB 286 million, down about 9% from RMB 314 million as of December 31, 2023, primarily due to a reduction in outsourced expenditures[55]. - The company had no interest-bearing borrowings as of June 30, 2024, resulting in an asset-to-liability ratio of zero, indicating no significant debt[59]. Strategic Focus and Future Plans - The company plans to continue expanding its service boundaries and focus on customer value creation in the second half of 2024, amidst industry opportunities and challenges[24]. - The company aims to enhance its community value-added services, which typically yield higher profit margins compared to other property management services[25]. - The company has expanded its regional coverage to 36 cities, 9 provinces, 1 autonomous region, and 1 municipality as of June 30, 2024[28]. Other Information - The company did not declare any interim dividend for the six months ended June 30, 2024, consistent with the previous year[19]. - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the reporting period[59]. - The company has not engaged in any foreign currency hedging activities and has no foreign currency-denominated cash as of June 30, 2024[58]. - The company is committed to prudent financial management and closely monitors its liquidity to meet future funding needs[56]. - There were no significant post-reporting events affecting the company from June 30, 2024, to the announcement date[61]. - The company has adopted a compensation policy similar to industry peers, with performance bonuses awarded based on employee contributions[60].

Financial Performance - The company reported a revenue of HKD 1.2 billion for the fiscal year 2023, representing a year-on-year increase of 15%[2]. - The company achieved revenue of approximately RMB 609.1 million in 2023, an increase of 5.4% compared to the same period in 2022[18]. - The company's total revenue for the year 2023 was approximately RMB 609.1 million, an increase of about 5.4% compared to RMB 577.7 million in 2022[57]. - Revenue for the fiscal year 2023 reached $500 million, representing a 15% increase compared to the previous year[87]. - Revenue from property management services reached RMB 519,833 thousand in 2023, up from RMB 473,389 thousand in 2022, reflecting an increase of 9.8%[36]. - Property management services generated revenue of approximately RMB 519.8 million, accounting for 85.3% of total revenue, up from 81.9% in 2022[58]. - Non-owner value-added services revenue decreased by 38.2% to approximately RMB 43.3 million, representing 7.2% of total revenue[52]. - Community value-added services revenue increased by 34.0% to approximately RMB 46.0 million, accounting for 7.5% of total revenue[54]. Profitability - Gross profit for the year was approximately RMB 194.7 million, representing a year-on-year growth of 16.5%[18]. - Gross profit for the year increased by approximately 16.5% to about RMB 194.7 million, with a gross profit margin of 32.0%, up from 28.9% in 2022[61]. - Net profit reached approximately RMB 104.6 million, a significant increase of 30.4% compared to 2022[18]. - The profit attributable to the owners of the company for the year was approximately RMB 101.4 million, an increase of about 32.3% from RMB 76.6 million in 2022[64]. User Growth and Market Expansion - User data showed an increase in active users by 20%, reaching a total of 500,000 users by the end of 2023[2]. - The company reported a significant increase in user data, with a year-over-year growth of 25% in active users[87]. - The company is considering strategic acquisitions to enhance its service offerings, with a budget of HKD 300 million allocated for potential deals[2]. - Market expansion plans include entering two new provinces in China, aiming for a 5% market share in these regions by 2025[2]. - The company is planning to expand its market presence in Southeast Asia, targeting a 10% market share by 2025[87]. Future Outlook - The company provided a positive outlook for 2024, projecting a revenue growth of 10% to 12%[2]. - 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%[87]. - New product launches are expected to contribute an additional HKD 200 million in revenue in 2024[2]. - New product launches are expected to contribute an additional $50 million in revenue, with a focus on innovative technology solutions[87]. Research and Development - The company is investing HKD 50 million in research and development for new technologies in the upcoming year[2]. - The company has invested $10 million in research and development for new technologies aimed at improving operational efficiency[87]. Operational Efficiency - The company aims to improve operational efficiency, targeting a reduction in costs by 8% through process optimization[2]. - The company is enhancing its digital management capabilities through the development of a smart property management platform[22]. - The management team emphasized the importance of sustainable practices, aiming for a 30% reduction in carbon footprint by 2025[87]. Corporate Governance - The company emphasizes the importance of good corporate governance in its management structure and internal control procedures[100]. - The company has adopted the corporate governance code and has complied with all applicable principles and provisions as of December 31, 2023[103]. - The board consists of seven members, including two executive directors, two non-executive directors, and three independent non-executive directors[106]. - The company received annual confirmations of independence from its independent non-executive directors, affirming their status[110]. - The board has established a mechanism for independent directors to provide independent views and opinions, ensuring effective governance[136]. Employee and Management Structure - The total employee cost for the year ended December 31, 2023, was approximately RMB 269.5 million, compared to RMB 257.4 million for the same period in 2022[79]. - The group had 5,644 employees as of December 31, 2023, an increase from 4,405 employees as of December 31, 2022[79]. - The board currently consists of seven members, including six female directors, indicating a gender diversity that requires improvement[131]. - The nomination committee is actively seeking suitable male candidates to join the board to enhance gender diversity[134]. Risk Management - The group faces significant operational risks, including changes in China's political and economic conditions and regulatory environment[144]. - The risk management strategy has been approved by the board and is implemented by the legal audit department to enhance operational policies and procedures[144]. - The internal control measures are led by the board, with management assisting in identifying and assessing business system risks[145]. - The risk management and internal control systems were reviewed and deemed effective and sufficient as of December 31, 2023[146]. Financial Position - As of December 31, 2023, the group's cash and bank balances were approximately RMB 602.9 million, up from RMB 361.0 million as of December 31, 2022[69]. - The current ratio as of December 31, 2023, was approximately 2.8, compared to 2.6 as of December 31, 2022[70]. - The group had no interest-bearing borrowings as of December 31, 2023, resulting in an asset-to-liability ratio that is not meaningful[70]. - The group has not engaged in any hedging activities to manage foreign exchange rate risks, as it does not anticipate significant foreign exchange risks[71].

Financial Performance - The company's revenue for the year ended December 31, 2023, was RMB 609.1 million, an increase of 5.4% compared to RMB 577.7 million in 2022[4]. - Gross profit for the year ended December 31, 2023, was RMB 194.7 million, reflecting a growth of 16.5% from RMB 167.1 million in the previous year[4]. - Net profit for the year ended December 31, 2023, reached RMB 104.6 million, marking a 30.4% increase from RMB 80.3 million in 2022[4]. - The company's basic and diluted earnings per share for the year ended December 31, 2023, were RMB 0.36, compared to RMB 0.27 in 2022[5]. - The group’s pre-tax profit for 2023 was RMB 127,576,000, an increase of 33% compared to RMB 95,935,000 in 2022[41]. - Total income tax expense for the year was RMB 22,955,000, up from RMB 15,678,000 in 2022, reflecting a 46% increase[41]. - The group's gross profit increased by approximately 16.5% to about RMB 194.7 million from RMB 167.1 million in the same period of 2022[105]. - The profit attributable to the company's owners rose by approximately 32.3% to about RMB 101.4 million, compared to RMB 76.6 million in the same period of 2022[110]. Revenue Breakdown - Property management service revenue was RMB 519,833 thousand in 2023, up from RMB 473,389 thousand in 2022, indicating a growth of about 9.8%[26]. - Non-owner value-added services revenue decreased to RMB 43,285 thousand in 2023 from RMB 70,002 thousand in 2022, reflecting a decline of approximately 38.2%[26]. - Community value-added services revenue increased to RMB 45,979 thousand in 2023 from RMB 34,311 thousand in 2022, showing a growth of around 34.1%[26]. - The revenue from the major customer, Landsea Holdings Group, accounted for 11.3% of total revenue in 2023, down from 19.3% in 2022[24]. - The total revenue from property management services reached RMB 519.83 million, an increase from RMB 473.39 million in the previous year, reflecting a growth of approximately 9.8%[78]. - Revenue from residential properties management was RMB 374.2 million, representing 72.0% of total property management revenue[89]. Assets and Liabilities - The company's cash and bank balances increased to RMB 602.9 million as of December 31, 2023, up from RMB 361.0 million in 2022[9]. - Total assets less current liabilities amounted to RMB 550.8 million, compared to RMB 454.9 million in the previous year[11]. - Trade receivables increased to RMB 155,586,000 in 2023 from RMB 133,812,000 in 2022, representing a growth of 16%[46]. - The impairment loss on trade receivables rose to RMB 34,554,000 in 2023, compared to RMB 18,447,000 in 2022, indicating an increase of 87%[49]. - The group reported a total of RMB 55,381,000 in prepayments and other receivables for 2023, up from RMB 30,881,000 in 2022, marking an increase of 79%[53]. - Trade payables decreased from RMB 48.3 million in 2022 to RMB 31.4 million in 2023[56]. - Other payables and accrued expenses totaled RMB 120.3 million in 2023, up from RMB 90.4 million in 2022[58]. Project Management - As of December 31, 2023, the company had 253 signed projects with a total signed construction area of 36.4 million square meters[4]. - The total signed area as of December 31, 2023, was approximately 36.4 million square meters, a decrease of about 3.9% compared to the previous year[64]. - The managed building area increased by approximately 27.7% to about 30.1 million square meters as of December 31, 2023[64]. - The number of properties under management increased to 249, representing a growth of 27.7% year-on-year, with a total managed area of approximately 30.1 million square meters[75]. - The number of signed projects reached 253, with a signed building area of 36,372 thousand square meters, indicating growth in project acquisition[87]. - In Sichuan province, the company managed 213 projects with a total area of 22.81 million square meters, contributing 81% of the total revenue[78]. Dividends and Governance - The company did not recommend the payment of a final dividend for the year ended December 31, 2023, consistent with the previous year[4]. - The group did not recommend a final dividend for the year ending December 31, 2023, consistent with 2022[42]. - The audit committee has been established in accordance with Listing Rule 3.21 and the Corporate Governance Code, consisting of three independent non-executive directors[137]. - The audit committee reviewed and agreed with the management on the annual performance for the year ending December 31, 2023[137]. - The group's auditor, Ernst & Young, confirmed that the figures in the consolidated income statement and other comprehensive income, as well as the consolidated financial position, are consistent with the group's financial statements for the year[139]. Future Outlook - The company is focusing on building an innovative value-added service ecosystem, targeting both property and lifestyle services[67]. - The company aims to expand its market share and enhance its business layout in China, focusing on community value-added services which typically yield higher profit margins[73]. - The company continues to enhance its community value-added service offerings, which are expected to drive financial performance further[73]. - The estimated delivery and revenue generation time for uncompleted projects ranges from September 2024 to August 2031[76]. - The company is committed to a long-term strategy focused on high-quality development and customer value creation[72].

Company Growth and Expansion - As of June 30, 2023, the total contracted building area managed by the company reached approximately 38.7 million square meters, an increase of 1.9% compared to the same period last year[12]. - The number of properties under management increased to 228, up 12.9% from 2022, while the managed building area grew by 18.2% to approximately 26.0 million square meters[13]. - The company expanded its regional coverage to 36 cities, 9 provinces, 1 autonomous region, and 1 municipality as of June 30, 2023[16]. - The number of contracted management properties increased to 257, up from 250 in the previous year[13]. - The total number of signed projects increased to 257 with a signed building area of 38,689 thousand square meters as of June 30, 2023, compared to 250 projects and 37,969 thousand square meters in 2022, representing a growth of 2.8% in project count and 1.9% in building area[20]. - The company has signed property management service contracts for properties in various regions, including Chengdu, Urumqi, and Foshan, expanding its service coverage[21]. - The company reported a significant increase in the number of signed projects in Xinjiang, with 19 projects and a signed building area of 4,868 thousand square meters, compared to 24 projects in the previous year[20]. - The company is actively pursuing new property management contracts in various cities, including Zhangjiajie and Xuzhou, to enhance its market presence[21]. Revenue and Financial Performance - For the six months ended June 30, 2023, the total revenue of the company was approximately RMB 294.7 million, an increase of about 4.0% compared to RMB 283.3 million for the same period in 2022[40]. - Property management services remained the largest revenue source, contributing approximately RMB 250.8 million, accounting for 85.1% of total revenue, driven by an increase in managed building area[44]. - Community value-added services revenue grew by approximately RMB 6.6 million, or 39.7%, to about RMB 23.2 million, primarily due to increased income from renovation and move-in services[36]. - The management service revenue from projects developed by Landsea Holdings Group accounted for 67.1% of total revenue, amounting to RMB 168.3 million, up from RMB 150.3 million in the previous year[23]. - Non-owner value-added service revenue decreased by 51.8% year-on-year to approximately RMB 20.6 million, primarily due to a decline in sales office management and security service revenues, representing 7.0% of total revenue[34]. - Revenue for the six months ended June 30, 2023, was RMB 294,658,000, an increase of 4.6% compared to RMB 283,348,000 for the same period in 2022[90]. - Gross profit increased by 18.1% to approximately RMB 100.4 million, with a gross profit margin rising from 30.0% in 2022 to 34.1% in 2023[46]. - The company reported a profit attributable to owners of approximately RMB 53.9 million, an increase of about 17.1% compared to RMB 46.1 million in the same period of 2022[51]. Cost Management and Expenses - Administrative expenses decreased by approximately 13.3% to about RMB 24.5 million, mainly due to reduced professional intermediary fees and labor costs[48]. - Trade receivables increased by approximately RMB 17.8 million, or 15.5%, to about RMB 133.2 million, attributed to the expansion of the company's business scale[52]. - The company reported a decrease in financing cash flow net amount to RMB (245,000) for the six months ended June 30, 2023, compared to RMB (300,000) in the same period of 2022[105]. - The group’s management personnel compensation totaled RMB 302 thousand for the six months ended June 30, 2023, down from RMB 478 thousand in the same period of 2022, reflecting a decrease of approximately 36.8%[138]. Employee and Corporate Governance - As of June 30, 2023, the group had 4,731 employees, an increase from 4,405 employees as of December 31, 2022[66]. - The group plans to enhance its employee training programs, focusing on key operational areas and providing ongoing training for employees at various levels[66]. - The group has adopted a compensation policy similar to its peers, with performance bonuses awarded based on employee contributions[66]. - The company has complied with all applicable corporate governance codes during the reporting period[68]. - The group emphasizes integrity, accountability, transparency, independence, responsibility, and fairness in its corporate governance practices[68]. Strategic Plans and Investments - The net proceeds from the IPO amount to approximately HKD 278.0 million, with 70% allocated for strategic acquisitions and investments[80]. - The strategic acquisition and investment plan includes acquiring and investing in other property management companies, with a budget of HKD 194.6 million[81]. - The upgrade of the smart property management platform is budgeted at HKD 27.8 million, with HKD 27.1 million already allocated[81]. - The company is considering strategic acquisitions to enhance its market position, with a budget of RMB 200 million allocated for potential deals[149]. Market Outlook and Future Projections - The company provided a positive outlook, projecting a revenue growth of 25% for the next fiscal year[149]. - New product launches are expected to contribute an additional RMB 100 million in revenue by the end of 2023[149]. - Market expansion plans include entering two new regions, which are projected to increase user base by 30%[149]. - The company is investing in new technology development, allocating RMB 50 million for R&D in the upcoming year[149]. Financial Position and Assets - Total assets as of June 30, 2023, were RMB 1,274,903,000, compared to RMB 1,107,765,000 as of December 31, 2022[94]. - Cash and bank balances increased to RMB 386,370,000 from RMB 360,987,000 at the end of 2022[94]. - The company’s total equity as of June 30, 2023, was RMB 424,991,000, an increase from RMB 375,749,000 as of June 30, 2022, reflecting a growth of approximately 13.1%[101]. - The company’s cash and cash equivalents increased to RMB 386,270,000 as of June 30, 2023, up from RMB 306,985,000 at the end of June 2022, marking a growth of about 25.8%[105]. Compliance and Risk Management - The audit committee has reviewed the interim results and confirmed compliance with accounting principles and risk management practices[88]. - The company has confirmed that there are no significant changes to the planned use of proceeds as of the report date[83]. - The company has not reported any significant impact from the OECD's Pillar Two model rules, as it does not fall within the scope of these regulations[114].

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之內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或 因倚賴該等內容而引致之任何損失承擔任何責任。 Ling Yue Services Group Limited 領悅服務集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2165） 截至2023年6月30日止六個月 之中期業績公告 中期業績及營運概要 財務摘要 ‧ 截至2023年6月30日止六個月的收益為人民幣294.7百萬元，較2022年同期 增長4.0%。 ‧ 截至2023年6月30日止六個月的毛利為人民幣100.4百萬元，較2022年同期 增長18.1%。 ‧ 截至2023年6月30日止六個月的淨利潤為人民幣58.7百萬元，較2022年同 期增長19.3%。 ‧ 於2023年6月30日，本集團簽約項目257個、簽約建築面積38.7百萬平方 米，在管項目228個、在管建築面積26.0百萬平方米。 ...

Financial Performance - The company reported a revenue of HKD 1.2 billion for the fiscal year ending December 31, 2022, representing a year-over-year increase of 15%[5]. - The company reported a net profit of HKD 200 million, reflecting a 10% increase compared to the previous fiscal year[5]. - Cash flow from operations increased by 20%, totaling HKD 300 million, providing a strong liquidity position for future investments[5]. - The company's total revenue for the year ended December 31, 2022, was approximately RMB 577.7 million, an increase of about 6.7% compared to RMB 541.2 million in 2021[58]. - Property management services generated revenue of approximately RMB 473.4 million, accounting for 81.9% of total revenue, with a growth attributed to an increase in managed building area[59]. - The company's gross profit increased by approximately 7.8% to about RMB 167.1 million, with a gross profit margin of 28.9%, up from 28.7% in 2021[62]. - Revenue from projects developed by Landsea Holdings Group accounted for 65.0% of total revenue, amounting to RMB 307,948 thousand, up from 68.1% in 2021[44]. - The revenue from non-Landsea Holdings Group projects was RMB 140,374 thousand, making up 29.7% of total revenue[44]. User Growth and Market Expansion - User data showed a growth in active users by 25%, reaching a total of 500,000 users by the end of 2022[5]. - The company provided a positive outlook for 2023, projecting a revenue growth of 20% based on new service offerings and market expansion strategies[5]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[5]. - The company has expanded its service coverage to 35 cities across 8 provinces, 1 autonomous region, and 1 municipality as of December 31, 2022[30]. Investment and Development - Investment in new product development increased by 30%, focusing on technology enhancements and customer experience improvements[5]. - A strategic acquisition of a local competitor is expected to be finalized in Q3 2023, which will enhance the company's service portfolio[5]. - The estimated delivery and revenue generation timeline for the undelivered building area of approximately 14.2 million square meters is between January 2023 and September 2024[28]. Corporate Governance - The company emphasizes the importance of good corporate governance elements in its management structure and internal control procedures[102]. - The company is committed to operating with high ethical standards, believing that integrity and transparency will maximize long-term returns for shareholders[103]. - The board consists of seven directors, including two executive directors, two non-executive directors, and three independent non-executive directors, ensuring a balanced composition for effective independent judgment[108]. - The audit committee held two meetings during the year ended December 31, 2022, to review the group's financial reporting processes and internal control systems[117]. - The company has adopted the principles and provisions of the corporate governance code and has complied with all applicable principles and provisions as of December 31, 2022[105]. Risk Management - The company has established a risk management framework to address operational risks, including changes in China's political and economic conditions[146]. - The risk management strategies are reviewed and approved by the board and supervisory committee to ensure effective implementation[146]. - The board is responsible for maintaining effective risk management and internal control systems, which are reviewed annually[145]. Employee and Talent Development - The total employee cost for the year ended December 31, 2022, was approximately RMB 257.4 million, compared to RMB 252.3 million for the same period in 2021[81]. - The group employed 4,405 staff as of December 31, 2022, an increase from 4,121 staff as of December 31, 2021[81]. - The company has implemented five specialized talent development programs to enhance internal talent incubation and support regional business growth[20]. Social Responsibility - The company is committed to social responsibility through various public welfare initiatives, including "Urban Care" and "Nature Protection Campaign"[20]. Shareholder Communication - The company encourages shareholders to actively participate in its affairs and has established multiple communication channels for effective dialogue[159]. - The annual general meeting serves as a primary platform for communication between the company and its shareholders[164]. - Shareholders can request a special general meeting if they hold at least 10% of the paid-up capital, and the meeting must be held within two months of the request[154].

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之內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或 因倚賴該等內容而引致之任何損失承擔任何責任。 Ling Yue Services Group Limited 領悅服務集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2165） 截至2022年12月31日止年度的 年度業績公告 年度業績及營運概要 財務摘要 ‧ 本集團截至2022年12月31日止年度的收益為人民幣577.7百萬元，較2021 年相應期間增長6.7%。 ‧ 本集團截至2022年12月31日止年度的毛利為人民幣167.1百萬元，較2021 年相應期間增長7.8%。 ‧ 截至2022年12月31日止年度的純利為人民幣80.3百萬元，較2021年相應期 間增長6.8%。 ‧ 於2022年12月31日，本集團簽約項目249個、簽約建築面積37.8百萬平方 米，在管項目211個、在管建築面積23.6百萬平方米。 ‧ 截至2022年12月31日止年度，董事會不建議派付末期股息（2021年：無）。 ...

Business Operations - As of June 30, 2022, the company provided property management services to 250 projects across 35 cities in China, with a total contracted area of approximately 38 million square meters, representing a growth of about 0.8% compared to June 30, 2021[11]. - The area under management increased by approximately 5.7% to about 22 million square meters as of June 30, 2022[11]. - The group managed a total of 202 properties, with a total managed building area of approximately 22.0 million square meters, which is a 5.7% increase compared to the same period last year[24]. - The number of properties under management increased from 175 in 2021 to 202 in 2022, reflecting a growth of 15.4%[24]. - The total contracted building area as of June 30, 2022, was 37.969 million square meters, slightly up from 37.649 million square meters in 2021[51]. - The group expanded its regional coverage to 35 cities across 8 provinces, 1 autonomous region, and 1 municipality as of June 30, 2022[27]. - The group signed contracts for property management services covering 250 projects, with a total contracted building area of 37.969 million square meters as of June 30, 2022[51]. - The uncompleted building area for the signed projects was 15.947 million square meters, down from 16.815 million square meters in 2021[51]. Financial Performance - For the six months ended June 30, 2022, total revenue was approximately RMB 223.95 million, a significant increase from RMB 175.58 million in the same period of 2021, representing a growth of 27.5%[61]. - The group's revenue for the reporting period was approximately RMB 283.3 million, an increase of about 11.1% compared to RMB 255.0 million in the same period of 2021[86]. - Property management services remained the largest revenue source, contributing approximately RMB 224.0 million, accounting for 79.0% of total revenue[90]. - The profit attributable to the company's owners was approximately RMB 46.1 million, an increase of about 30.7% compared to RMB 35.2 million in the same period of 2021[98]. - The net profit for the period was RMB 49,169,000, compared to RMB 38,335,000 in the previous year, reflecting a significant increase of 28.3%[177]. - Gross profit increased by approximately 6.8% to about RMB 85.0 million, while the gross profit margin decreased by 1.2 percentage points to 30.0%[92]. Revenue Breakdown - Non-owner value-added service revenue decreased by 35.9% to approximately RMB 42.8 million, accounting for 15.1% of total revenue, primarily due to declines in sales management and security support services[79]. - Community value-added service revenue grew by 30.4% to approximately RMB 16.6 million, driven by increased demand for renovation and move-in services, representing 5.9% of total revenue[82]. - The revenue from residential properties managed increased to RMB 139.12 million, which is 62.1% of total revenue, compared to RMB 106.57 million or 60.7% in the previous year[74]. - The company managed 8 commercial properties, generating revenue of RMB 44.75 million, which accounted for 20.0% of total revenue, compared to 25.1% in the previous year[74]. Employee and Training Initiatives - The company emphasizes employee development through various training programs to support long-term growth and talent acquisition[19]. - The group is enhancing its employee training programs, focusing on key operational areas and providing continuous training for employees at different levels[112]. - Employee costs totaled approximately RMB 131.9 million for the reporting period, compared to RMB 113.3 million in the same period of 2021, reflecting an increase of 16.4%[112]. Corporate Governance - The group is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value[117]. - The company has complied with all applicable corporate governance codes as of June 30, 2022[117]. - The audit committee has been established in accordance with the listing rules to oversee financial reporting and risk management[163]. - The company’s financial statements were reviewed by the audit committee and external auditors, ensuring compliance with international accounting standards[164]. Strategic Focus and Future Plans - The company aims to deepen its market presence in Sichuan and Xinjiang as part of its growth strategy[11]. - The company is focusing on enhancing service quality and has initiated the "Orange Storm" quality improvement plan to strengthen its quality management system[12]. - The company is expanding its service offerings by integrating property services with lifestyle services, aiming to create a comprehensive community service brand[18]. - The company aims to upgrade its smart property management platform with a budget of HKD 27.8 million, representing 10.0% of the IPO proceeds[155]. Shareholder Information - As of June 30, 2022, the company had issued a total of 285,685,000 shares, with major shareholders holding 74.67% of the shares[124][125]. - Tianyue Holding, controlled by Mr. Liu Haowei, holds 213,298,000 shares, representing approximately 74.6% of the company's equity[135]. - The board of directors decided not to declare any interim dividend for the six months ending June 30, 2022[143].