截至4月25日收盘，德商产投服务（02270.HK）报1.000港元，较上个交易日下跌6.54%，当日盘中最低 价触及1.000港元，创近一年新低。 资金流向方面，当日主力流入0.000万港元，流出0.822万港元，净流出0.82万港元。 德商产投服务集团有限公司成立于2010年,秉承"创造美好福流生活"的德商愿景,"为客户创造价值,为奋 斗者谋幸福,为行业进步勇于担当"的使命,专注于房地产产业链服务和客户价值创造,业态涵盖案场、住 宅、商业、写字楼、工业园区、文旅等多种业态。德商产投服务集团有限公司是一家位於四川省成都市 的领先物业管理服务和商业运营一体化服务提供商。公司致力於为中高端住宅物业、商业物业提供物业 管理服务和商业运营服务。公司的商业运营服务包括向开发商及租户提供市场调研服务、招商服务及街 区管理服务。於2020年12月31日,公司在管建筑面积约为3.8百万平方米,其中在管住宅物业总建筑面积约 1.6百万平方米,占公司在管建筑面积的42.1%,在管非住宅物业总建筑面积约2.2百万平方米,占公司在管建 筑面积的57.9%。公司在管建筑面积由截至2018年12月31日的约0.5百万平方米增加至截至2 ...

Financial Performance - The company reported a total revenue of $1.2 billion for the fiscal year, representing a 15% increase year-over-year[3]. - The company expects revenue guidance for the next fiscal year to be between $1.4 billion and $1.5 billion, indicating a growth rate of approximately 17% to 25%[3]. - The company's total revenue for the year ended December 31, 2024, reached RMB 453.5 million, representing a 33.4% increase compared to RMB 339.9 million in 2023[22]. - Gross profit for the same period was approximately RMB 99.8 million, up 9.4% from RMB 91.2 million in 2023, with a gross margin of 22.0%, down 4.8 percentage points year-on-year[27]. - Net profit after tax decreased by 5.2% to RMB 37.9 million from RMB 40.0 million in 2023[22]. - Basic earnings per share for the year were RMB 6.51, compared to RMB 6.34 in 2023, while diluted earnings per share were RMB 6.48, up from RMB 6.31[22]. - The company reported a net profit margin of 12%, an increase from 10% in the previous year, reflecting improved operational efficiency[3]. Market Expansion and Strategy - User data showed an increase in active users to 5 million, up from 4 million in the previous year, marking a 25% growth[3]. - New product launches are anticipated to contribute an additional $200 million in revenue, with a focus on expanding the product line in the next quarter[3]. - Market expansion plans include entering three new regions, projected to increase market share by 10% over the next two years[3]. - The company has completed the acquisition of a competitor for $300 million, expected to enhance its market position significantly[3]. - A new strategic partnership has been formed with a leading tech firm, aimed at co-developing innovative solutions[3]. Operational Efficiency and Investments - The company is investing $50 million in research and development for new technologies aimed at enhancing user experience and operational efficiency[3]. - The total assets of the company have grown to $2 billion, up from $1.8 billion, indicating a solid financial position[3]. - Administrative expenses decreased by 29.5% to RMB 38.2 million from RMB 54.2 million, attributed to digital transformation initiatives[40]. - Sales costs increased by 42.2% to RMB 353.7 million, higher than the revenue growth rate, due to expanded service quality investments and diversified business operations[36]. Human Resources and Management - As of December 31, 2024, the group had 1,235 employees, an increase from 970 employees as of December 31, 2023[70]. - Employee compensation for the reporting period was RMB 100.6 million, up from RMB 92.4 million for the year ended December 31, 2023, reflecting a focus on performance and market trends[70]. - The management team includes experienced individuals with extensive backgrounds in real estate development and management[86][87]. - The company is focused on strategic planning, business expansion, and operational management, with key personnel changes aimed at enhancing management efficiency[96][97]. Governance and Compliance - The board consists of nine members, including five executive directors, one non-executive director, and three independent non-executive directors, ensuring compliance with governance regulations[115]. - The company has established three board committees: the Audit Committee, the Remuneration Committee, and the Nomination Committee to oversee specific aspects of its operations[118]. - The company has adopted a dividend policy considering factors such as profitability, cash flow, financial condition, and capital needs, aiming to provide stable returns to shareholders while maintaining business operations[169]. - The company has established a comprehensive cash management policy and treasury policy to maintain overall financial security and a strong cash position[143]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to enhancing its ESG performance across governance, environmental protection, employment practices, operational norms, and community investment[171]. - The ESG report covers activities, challenges, and measures taken from January 1, 2024, to December 31, 2024[172]. - The group has set quantifiable environmental targets in response to national carbon neutrality goals, enhancing corporate reputation[179]. - The company aims to reduce total greenhouse gas emissions intensity by 3% by December 31, 2026, based on the benchmark year of December 31, 2021[191]. - The company has implemented multiple measures to ensure compliance with applicable regulations regarding greenhouse gas emissions and waste management[192]. Legal and Regulatory Matters - Chengdu Deshang has filed a civil lawsuit against Chengdu Huashang for a contract dispute, claiming RMB 4,173,850.42, with the court ordering Chengdu Huashang to pay RMB 1,000,000[76]. - The company has not reported any significant events affecting its subsidiaries post-reporting period[84]. - The company has appointed a legal advisor to provide insights on Chinese laws and regulations, ensuring compliance with the latest legal requirements[146].

Financial Performance - The total revenue for the year ended December 31, 2024, increased by 33.4% to RMB 453.5 million from RMB 339.9 million for the year ended December 31, 2023[3]. - The profit attributable to equity holders for the year ended December 31, 2024, was RMB 37.9 million, a decrease of 5.2% compared to RMB 40.0 million for the year ended December 31, 2023[3]. - Basic earnings per share attributable to equity holders for the year ended December 31, 2024, was RMB 6.51 cents, up from RMB 6.34 cents in 2023[5]. - The gross profit for the year ended December 31, 2024, was RMB 99.8 million, compared to RMB 91.2 million in 2023, reflecting an increase in gross margin[5]. - The company's contract revenue for 2024 reached RMB 421,759,000, a significant increase of 37.6% compared to RMB 306,415,000 in 2023[31]. - The property services segment generated revenue of RMB 287,129,000 in 2024, up from RMB 220,188,000 in 2023, reflecting a growth of 30.4%[31]. - The asset operation services segment reported a revenue increase to RMB 141,486,000 in 2024, compared to RMB 82,124,000 in 2023, marking a growth of 72.2%[31]. - The investment and development segment's revenue decreased to RMB 24,897,000 in 2024 from RMB 37,625,000 in 2023, a decline of 33.9%[31]. - Total other income for 2024 was RMB 11,862,000, an increase from RMB 9,550,000 in 2023, representing a growth of 24.2%[32]. - The company's financial costs rose to RMB 15,190,000 in 2024, compared to RMB 9,472,000 in 2023, indicating an increase of 60.5%[33]. - The company's profit before tax for 2024 was impacted by a cost of services amounting to RMB 343,681,000, which increased from RMB 243,265,000 in 2023, reflecting a rise of 41.4%[34]. - The income tax expense for 2024 was RMB 6,377,000, an increase of 7.2% from RMB 5,947,000 in 2023[38]. - The company's effective tax rate for 2024 was influenced by a statutory tax rate of 25% and various tax incentives, resulting in a tax expense of RMB 11,071,000 before adjustments[38]. - The basic earnings per share for 2024 was RMB 37,014,000, down from RMB 39,205,000 in 2023, reflecting a decrease of 5.6%[40]. - The weighted average number of ordinary shares used for basic earnings per share calculation decreased from 618,626,805 in 2023 to 568,709,356 in 2024[41]. - The gross profit margin for the year ended December 31, 2024, was 22.0%, down from 26.8% in 2023[56]. - Net profit for the year ended December 31, 2024, decreased by 5.2% to RMB 37.9 million compared to RMB 40.0 million in 2023[57]. - The company did not declare any dividends for the year ending December 31, 2024, consistent with the previous year[39]. Assets and Liabilities - Total current assets as of December 31, 2024, were RMB 439.98 million, slightly down from RMB 442.06 million in 2023[6]. - Total non-current assets as of December 31, 2024, decreased to RMB 394.85 million from RMB 403.22 million in 2023[6]. - The net asset value decreased to RMB 143.58 million as of December 31, 2024, from RMB 182.74 million in 2023[7]. - The total liabilities as of December 31, 2024, were RMB 264.33 million, down from RMB 273.36 million in 2023[7]. - Trade receivables increased to RMB 203,292,000 in 2024, up 15.4% from RMB 176,152,000 in 2023, with a provision for impairment of RMB 13,646,000[42]. - Inventory as of December 31, 2024, was RMB 23,981,000, a significant increase from RMB 18,541,000 in 2023[12]. - The company reported a total of RMB 65,231,000 in current prepayments and other receivables for 2024, compared to RMB 55,041,000 in 2023, marking a rise of 18.5%[46]. - Trade payables at the end of 2024 amounted to RMB 55.5 million, an increase from RMB 44.6 million in 2023[49]. - Other payables and accrued expenses totaled RMB 185.3 million at the end of 2024, compared to RMB 163.3 million in 2023[50]. - The impairment loss provision at the end of 2024 was RMB 7.964 million, up from RMB 7.441 million at the end of 2023[48]. - The deferred tax liabilities decreased from RMB 693,000 in 2023 to RMB 481,000 in 2024, indicating a reduction in deferred tax obligations[38]. - Cash and bank balances decreased by RMB 41.0 million to RMB 169.1 million as of December 31, 2024, with a current ratio of approximately 1.5 times[93]. - As of December 31, 2024, the debt-to-equity ratio was 3.28%, slightly up from 3.20% on December 31, 2023[100]. - The company had no pledged assets as of December 31, 2024, consistent with the previous year[97]. Operational Highlights - The company continues to focus on property management and related services, with a significant portion of its operations in China[9]. - The company has established multiple subsidiaries in China, focusing on property management and commercial management, with ownership percentages ranging from 31% to 100%[12][13][14]. - The registered capital for the subsidiaries varies, with the largest being RMB 20,400,000 for Chengdu Shudu Wanze Property Management Co., Ltd.[13]. - The company has a significant presence in the commercial leasing sector, with several subsidiaries holding 51% ownership stakes[12][13]. - The total area under management expanded to 10.656 million square meters, a growth of 20.5% compared to 2023[66]. - The company plans to continue diversifying its development strategy, focusing on property services, asset operation services, and investment and development[70]. - The asset operation services segment showed strong performance with over 90% occupancy in the "Deshang Xinhongdao" office leasing brand by the end of 2024[68]. - The investment and development segment is currently in an adjustment phase and has not yet made a significant contribution to overall performance[69]. - The company is focusing on business diversification and refined management to enhance overall risk resilience and operational efficiency[108]. - The company aims to improve service quality and talent development to adapt to a complex and changing market environment[108]. - The company faces intense competition in acquiring quality property management companies in China, which may impact its strategic acquisition plans[108]. Governance and Compliance - The financial statements are prepared in accordance with International Financial Reporting Standards and the Hong Kong Companies Ordinance[16]. - The group has adopted revised International Financial Reporting Standards effective from January 1, 2024, with no significant impact on past performance or financial position[20][21]. - The functional currency for the consolidated financial statements is Renminbi, reflecting the primary economic environment of the main subsidiaries[18]. - The company has no significant non-controlling interests in its subsidiaries, indicating full control over the majority of its operations[14]. - The subsidiaries listed are expected to have a major impact on the group's performance and constitute a significant portion of the group's net assets[14]. - The company plans to apply new and revised International Financial Reporting Standards upon their effective date, although the impact on accounting policies is currently uncertain[22]. - The group has not disclosed any major changes in its financial reporting structure that would significantly affect its financial results[22]. - The company has adopted the corporate governance code principles and complied with the applicable provisions during the reporting period, except for the deviation regarding the roles of the chairman and CEO[122]. - The audit committee reviewed the annual performance and consolidated financial statements for the year ending December 31, 2024[125]. - The financial information disclosed does not constitute audited accounts but is extracted from the consolidated financial statements audited by the company's auditor[128]. Strategic Initiatives - Approximately 20% of the net proceeds will be allocated for strategic investments and acquisitions to expand the company's business scope and scale[102]. - About 30% of the net proceeds will be used for strategic investments to promote business expansion and development[102]. - The company has implemented a talent strategy to attract and cultivate outstanding personnel, enhancing its core competitiveness[95]. - The company has entered into a property service framework agreement with its ultimate controlling shareholders, providing property management services for a period of three years from January 1, 2024, to December 31, 2026[109]. - The company has agreed to acquire 1,512 parking spaces for a total consideration of RMB 51,640,000, which will offset receivables owed to the company[110]. - A civil lawsuit resulted in a court ruling requiring the defendant to pay RMB 1,000,000 to the company, with no significant adverse impact on the company's operations or financial status[111]. - The company has adopted a revised share incentive plan, increasing the plan limit from 8% to 12% of the issued share capital[112]. - The company has entered into a share transfer agreement to acquire 100% of a target company for RMB 258,238.62, aiming to diversify its business and enhance operational efficiency[113]. - A construction and value-added services framework agreement has been established, with a transaction cap of RMB 16,900,000 for the period from July 19, 2024, to December 31, 2024[114]. - A new construction and value-added services framework agreement has been signed, with an annual cap of RMB 50,000,000 for the years ending December 31, 2025, and December 31, 2026[115]. - The company has no significant investments or capital asset acquisition plans as of the announcement date[99]. - There are no outstanding guarantees or significant contingent liabilities as of December 31, 2024[101]. - The company maintains a strong cash position and healthy debt status, with a commitment to effective risk management practices[103].

Financial Performance - The company reported a revenue of HKD 500 million for the first half of 2024, representing a 15% increase compared to the same period last year[1]. - The company expects a revenue guidance of HKD 1 billion for the full year 2024, reflecting a projected growth of 10%[1]. - The company recorded revenue of approximately RMB 203.1 million for the six months ended June 30, 2024, representing a 36.5% increase compared to RMB 148.8 million in the same period of 2023[9]. - Gross profit for the same period was approximately RMB 62.4 million, up 38.1% year-on-year, with a gross margin of 30.7%, an increase of 0.3 percentage points from the previous year[9]. - The company achieved a net profit of approximately RMB 23.6 million, a 29.7% increase from RMB 18.2 million in the same period of 2023[9]. - The company reported a profit and total comprehensive income of RMB 21,410,000 for the six months ended June 30, 2024, compared to RMB 17,860,000 for the same period in 2023, indicating an increase of approximately 19.1%[60]. - The group reported a net interest expense of RMB 6,406,000 for lease liabilities and RMB 2,185,000 for bank and related party loans for the six months ended June 30, 2024[78]. - The total tax expense for the period was RMB 3,901,000, compared to RMB 3,381,000 in the previous year, indicating an increase of approximately 15%[80]. Client and Market Growth - User data indicates a growth in active clients by 20%, reaching a total of 10,000 clients as of June 30, 2024[1]. - New product launches contributed to a 25% increase in service offerings, enhancing the overall value proposition for clients[1]. - The company is expanding its market presence in Southeast Asia, targeting a 30% increase in market share by the end of 2025[1]. - The company plans to enhance its customer support services, with a target of reducing response times by 30% by the end of 2024[1]. Strategic Initiatives - A strategic acquisition of a local competitor is anticipated to close by Q3 2024, expected to add approximately HKD 200 million in annual revenue[1]. - Investment in technology development has increased by 40%, focusing on enhancing digital service platforms[1]. - The company has initiated a new marketing strategy aimed at increasing brand awareness, with a budget allocation of HKD 50 million for 2024[1]. - The company plans to continue its diversified development strategy, focusing on real estate investment and operation, asset management, and large property services to enhance its competitive strength[31]. Segment Performance - The property services segment generated revenue of RMB 124.7 million, accounting for 61.4% of total revenue, reflecting a 19.6% growth compared to RMB 104.3 million in the prior year[12]. - The commercial operation management segment saw a significant increase of 48.4%, with revenue reaching RMB 24.9 million, compared to RMB 16.8 million in the same period last year[9]. - The office and industrial park operation management segment experienced a remarkable growth of 234.1%, with revenue increasing to RMB 42.0 million from RMB 12.6 million[9]. - The home furnishing services segment generated revenue of RMB 11.5 million, representing 5.6% of total revenue, a decrease of 24.3% from RMB 15.1 million in the same period of 2023[14]. Financial Position and Liabilities - The company’s asset-liability ratio as of June 30, 2024, was approximately 3.58%, compared to 3.20% as of December 31, 2023[28]. - Trade receivables decreased from approximately RMB 164.8 million as of December 31, 2023, to approximately RMB 162.3 million as of June 30, 2024, due to proactive collection policies[23]. - Contract liabilities increased from approximately RMB 47.6 million as of December 31, 2023, to approximately RMB 55.4 million as of June 30, 2024, primarily due to an increase in property management service prepayments[25]. - The company reported a total of 620,259,200 shares issued and fully paid as of June 30, 2024, an increase from 616,793,600 shares as of January 1, 2023[97]. Governance and Management - The board of directors does not recommend the payment of any interim dividend for the six months ending June 30, 2024[40]. - The company has adopted the corporate governance code and has complied with the relevant provisions, except for the deviation regarding the roles of the chairman and CEO[40]. - The company confirmed that all directors complied with the standard code for securities trading during the reporting period[40]. - The company has granted 2,481,037 restricted shares to Ms. Wan Hong, which will vest over a three-year period[44]. Cash Flow and Investments - Cash and bank balances decreased from approximately RMB 2,101 million as of December 31, 2023, to approximately RMB 1,321 million as of June 30, 2024, mainly due to share buybacks[28]. - The company has a remaining unutilized net proceeds balance of HKD 140.7 million as of June 30, 2024[51]. - The company plans to allocate approximately 60% of the net proceeds (HKD 105.7 million) for strategic investments and acquisitions to expand property management and commercial operations[51]. - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period, except for shares acquired under the share award scheme totaling approximately HKD 73.6 million[48].

Financial Performance - The group recorded revenue of approximately RMB 203.1 million for the six months ended June 30, 2024, representing a growth of approximately 36.5% compared to 2023[1] - Gross profit for the same period was approximately RMB 62.4 million, an increase of about 38.1% year-on-year, with a gross margin of approximately 30.7%, up by 0.3 percentage points from 2023[1] - The group's net profit after tax for the six months ended June 30, 2024, was approximately RMB 23.6 million, a growth of about 29.7% compared to RMB 18.2 million in 2023[1] - Total revenue for the six months ended June 30, 2024, was RMB 203,117,000, representing a 36.5% increase from RMB 148,750,000 for the same period in 2023[17] - The total profit before tax for the six months ended June 30, 2024, was RMB 27,480,000, compared to RMB 21,600,000 for the same period in 2023, indicating a growth of 27.0%[20] - The company's net profit for the reporting period rose by approximately 29.7% to RMB 23.6 million, while the net profit margin decreased to approximately 11.6% from 12.2%[57] Revenue Breakdown - Contract revenue from customers increased to RMB 174,572,000 for the six months ended June 30, 2024, up from RMB 139,247,000 in the prior year, reflecting a growth of 25.4%[18] - The property services segment generated revenue of RMB 124,745,000, a 19.7% increase compared to RMB 104,280,000 in the previous year[18] - The commercial operations management segment saw revenue rise to RMB 24,872,000, up 48.5% from RMB 16,758,000 year-over-year[18] - The office and industrial park management segment reported significant growth, with revenue increasing to RMB 42,042,000 from RMB 12,584,000, marking a 234.5% increase[12] - The property services segment generated revenue of RMB 124.7 million, accounting for 61.4% of total revenue, with a 19.6% growth from RMB 104.3 million year-on-year[44] - The commercial operation management segment saw revenue rise to RMB 24.9 million, which is 12.3% of total revenue, marking a 48.4% increase from RMB 16.8 million in the previous year[45] - The office and industrial park management segment reported revenue of RMB 42.0 million, representing 20.7% of total revenue, with a significant increase of 234.1% from RMB 12.6 million year-on-year[48] Assets and Liabilities - The group reported total assets of RMB 805.9 million as of June 30, 2024, compared to RMB 845.3 million as of December 31, 2023[3] - Current assets totaled RMB 412.4 million as of June 30, 2024, down from RMB 442.1 million at the end of 2023[3] - The group’s cash and cash equivalents decreased to RMB 132.1 million from RMB 210.1 million as of December 31, 2023[3] - Trade receivables of RMB 175,096,000 as of June 30, 2024, compared to RMB 176,152,000 as of December 31, 2023, showing a slight decrease of about 0.6%[26] - Trade payables as of June 30, 2024, amounted to RMB 38.096 million, a decrease from RMB 44.630 million as of December 31, 2023[32] - The company’s current liabilities included amounts payable to related parties of RMB 1.026 million, down from RMB 2.234 million as of December 31, 2023[34] Cash Flow and Investments - The company’s cash and cash equivalents as of June 30, 2024, amounted to RMB 132,105,000, a decrease from RMB 210,086,000 as of December 31, 2023, representing a decline of about 37.1%[30] - Cash and bank balances decreased from approximately RMB 210.1 million as of December 31, 2023, to approximately RMB 132.1 million as of June 30, 2024, primarily due to share buybacks[69] - The company had no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the reporting period[69] - As of June 30, 2024, the company had no major investments or plans for significant capital asset acquisitions[70] Corporate Governance and Strategy - The company has adopted the corporate governance code and has complied with the relevant principles, except for the separation of the roles of chairman and CEO[84][85] - The company is focusing on user-driven organizational structures and optimizing operations based on user feedback to drive product innovation[41] - The company is actively seeking new technologies, such as AI, for innovative applications in business scenarios to enhance decision-making support[41] - The company is integrating urban resource operations to build a systematic solution platform, enhancing its operational capabilities[41] - The diversified development strategy includes real estate investment and operation, asset management, and large property services, aiming to create a comprehensive urban asset management ecosystem[75] Taxation and Expenses - The company's income tax expense for the six months ended June 30, 2024, was RMB 3,901,000, compared to RMB 3,381,000 for the same period in 2023, representing an increase of approximately 15.4%[21] - The company’s deferred tax expense for the six months ended June 30, 2024, was RMB (2,493,000), compared to RMB (561,000) for the same period in 2023, indicating a significant increase in deferred tax liabilities[21] - Administrative expenses increased by approximately 36.3% to RMB 30.4 million from RMB 22.3 million in the previous year, primarily due to business expansion[53] Shareholder Information - The company did not have any customer transactions exceeding 10% of total revenue for the six months ended June 30, 2024[15] - The company has not recommended any interim dividend for the six months ended June 30, 2024, consistent with the previous period[24] - The board does not recommend any interim dividend for the six months ending June 30, 2024[87] - During the reporting period, the company purchased a total of 56,133,429 shares at an approximate total cost of HKD 73,616,000 (equivalent to about RMB 66,901,000)[88] Acquisitions and Agreements - A property service framework agreement was established with the ultimate controlling shareholders, providing property management services for three years starting from January 1, 2024, with an annual cap[76] - A debt settlement agreement was signed for the acquisition of 1,512 parking spaces for a total price of RMB 51,640,000, offsetting receivables owed to the company[77] - A share transfer agreement was signed for the acquisition of 100% equity in a target company for RMB 258,238.62, expected to enhance the company's competitive position and long-term growth[80] - A framework agreement for construction and value-added services was established with the ultimate controlling shareholders, with an annual cap of RMB 16,900,000 for related services[81] - The company participated in a restructuring project for Kington Real Estate Group, paying a total deposit of RMB 10 million, with RMB 5 million contributed by Chengdu Fengzhi[83]

Business Strategy and Growth - The company will continue to grow by focusing on urban asset operation services through a "light investment + platform + operation" model[2] - The company aims to enhance service product diversification and differentiation, expand geographical distribution, and achieve economies of scale[2] - The company is committed to becoming a leading provider of systematic solutions for urban asset operations, focusing on resource integration and platform development[57] - The company has upgraded its organizational structure and team to enhance service capabilities and customer experience[52] - The company has gained operational service rights for multiple projects through joint ventures and entrusted operations in various business areas[51] Financial Performance - For the fiscal year ending December 31, 2023, the company's revenue was approximately RMB 339.9 million, an increase of 27.2% compared to RMB 267.3 million for the fiscal year ending December 31, 2022[61] - The company's net profit after tax for the fiscal year ending December 31, 2023, was approximately RMB 40.0 million, representing a growth of 19.2% from RMB 33.6 million in the previous year[56] - The gross profit for the fiscal year ending December 31, 2023, was approximately RMB 91.2 million, a decrease of 3.6% from RMB 94.7 million in 2022, with a gross profit margin of 26.8%, down 8.6 percentage points from the previous year[70] - The company's total revenue for the year ended December 31, 2023, was RMB 339.9 million, representing a year-on-year increase of 27.2% compared to RMB 267.3 million for the year ended December 31, 2022[72] - Property services generated RMB 220.2 million, accounting for 64.8% of total revenue, with a year-on-year growth of 5.3% from RMB 209.2 million[73] Operational Challenges - The company is facing significant competition in acquiring quality property management companies in China[1] - The cost of sales increased to RMB 248.7 million, a rise of 44.1% from RMB 172.6 million in the previous year, outpacing revenue growth due to enhanced service quality and expansion in home services[74] - Trade receivables increased to approximately RMB 164.8 million from RMB 113.9 million, attributed to slower payment collection in the domestic real estate sector[88] Employee and Talent Management - The group employed around 970 employees as of December 31, 2023, an increase from 912 employees in the previous year, with total employee compensation rising to RMB 924 million from RMB 861 million[29] - The company adopted a share incentive plan on December 22, 2023, aimed at recognizing contributions from eligible participants and retaining talent for further development[31] - The company has established various training programs for employees to improve skills relevant to business operations[29] - The company has established a training academy to enhance employee service awareness and capabilities[52] Corporate Governance and Risk Management - The company is committed to risk management practices to mitigate operational and financial risks[1] - The group plans to enhance its corporate governance structure through the share incentive plan, aligning the interests of shareholders and management[31] - The company aims to maintain high corporate governance standards, as detailed in the corporate governance report[160] - The company is committed to ensuring that the consolidated financial statements are free from material misstatement due to fraud or error[145] Investments and Acquisitions - The company agreed to acquire 1,512 parking spaces for a total consideration of RMB 51,640,000, which will offset receivables owed to the company[4] - The company did not engage in any significant investments or acquisitions during the reporting period ending December 31, 2023[102] - Approximately 60% of the funds raised will be allocated for strategic investments and acquisitions to expand the group's property management and commercial operations[157] Cash and Asset Management - The company maintains a strong cash position and healthy debt status, ensuring robust repayment capability[27] - As of December 31, 2023, the group had approximately RMB 1,058 million in cash and bank deposits, primarily in RMB, with no significant foreign exchange risk identified for the year[28] - Cash and bank balances decreased from approximately RMB 2,482 million on December 31, 2022, to approximately RMB 2,101 million on December 31, 2023, a reduction of approximately RMB 382 million, primarily due to the purchase of financial products[97] Shareholder Information - The company was listed on December 17, 2021, with the stock code 2270[46] - The total number of stock options granted before the IPO is 19,253,000, with 8,086,400 options granted in the year and 3,465,600 options exercised[114] - The exercise price for the stock options is set at RMB 0.420, with various vesting dates from December 2021 to December 2027[114]

Financial Performance - The total revenue for the year ended December 31, 2023, increased by 27.2% to approximately RMB 339.9 million, up from approximately RMB 267.3 million for the year ended December 31, 2022[3]. - The profit after tax for the year ended December 31, 2023, was approximately RMB 40.0 million, representing a growth of 19.2% compared to RMB 33.6 million for the year ended December 31, 2022[3]. - Basic earnings per share attributable to equity holders for the year ended December 31, 2023, was RMB 6.34, compared to RMB 5.47 for 2022[3]. - Contract revenue with customers for 2023 reached RMB 306,415 thousand, an increase of 14.6% from RMB 267,270 thousand in 2022[30]. - Total rental income from investment properties for 2023 was RMB 33,522 thousand, with no income reported in 2022[30]. - Revenue recognized over time amounted to RMB 268,639 thousand in 2023, up from RMB 221,545 thousand in 2022, reflecting a growth of 21.2%[31]. - Total other income for 2023 was RMB 9,550,000, compared to RMB 5,952,000 in 2022, representing an increase of approximately 60.5%[39]. - The company's pre-tax profit for 2023 was RMB 45,952,000, up from RMB 37,008,000 in 2022, reflecting a growth of approximately 24.4%[49]. - The total tax expense for the year was RMB 5,947,000, compared to RMB 3,453,000 in 2022, indicating an increase of about 72.3%[46]. - The company did not recommend a final dividend for 2023, compared to a dividend of RMB 0.0483 per share in 2022, which totaled RMB 30,000,000[50]. - The gross profit for the year ended December 31, 2023, was approximately RMB 91.2 million, a decrease of 3.6% from RMB 94.7 million in 2022, with a gross margin of 26.8%[113]. - Net profit for the year ended December 31, 2023, was approximately RMB 40.0 million, an increase of 19.2% from RMB 33.6 million in 2022[113]. Assets and Liabilities - The total non-current assets increased significantly to RMB 403.2 million in 2023 from RMB 44.8 million in 2022[6]. - Trade receivables rose to RMB 164.8 million in 2023, up from RMB 113.9 million in 2022, indicating a growth of 44.8%[6]. - Current liabilities increased to RMB 259.3 million in 2023 from RMB 144.7 million in 2022, reflecting a rise of 79.4%[6]. - The net asset value attributable to equity holders increased to RMB 312.6 million in 2023 from RMB 298.6 million in 2022[7]. - The carrying amount of investment properties as of December 31, 2023, was RMB 250,726,000, significantly up from RMB 2,830,000 in 2022[52]. - Total inventory increased to RMB 19,551,000 in 2023, compared to RMB 16,840,000 in 2022, representing a growth of 10.1%[75]. - The total accounts payable as of December 31, 2023, was RMB 163,330 thousand, compared to RMB 84,692 thousand in 2022, indicating a significant increase in liabilities[91]. - The company's debt-to-equity ratio as of December 31, 2023, was 170.4%, a significant increase from approximately 50.7% as of December 31, 2022[149]. Investments and Subsidiaries - The company has expanded its investment in non-controlling interests, with a 31% stake in Sichuan Yilianhua Wo Commercial Management Co., Ltd. established in May 2023[12]. - The company operates four reportable segments, including commercial operations management and office and industrial park management[27]. - The company has established multiple subsidiaries in China, primarily focused on property management, with a total registered capital of RMB 10 million for Chengdu Zhongneng Property Management Co., Ltd. and RMB 500,000 for Chengdu Deshang Yongrun Commercial Management Co., Ltd.[196]. - The company has entered into an investment cooperation agreement to establish Sichuan Derui Fengtu Technology Co., Ltd., with a total investment of RMB 100 million, where 60% will be contributed by Chengdu Fengzhi Technology Co., Ltd.[145]. - The company has recognized a significant increase in credit risk for certain deposits, leading to additional impairment provisions totaling RMB 2,957 thousand[85]. Revenue Sources and Growth Strategies - Revenue from property services accounted for 64.8% of total revenue in 2023, while revenue from home services increased by 50.8% year-on-year[114]. - The company plans to focus on embedded services, particularly in community management, to enhance urban renewal and improve living conditions[101]. - The company has initiated a rental service expansion in collaboration with Chengdu Xinhongdao, aiming to enhance long-term revenue streams[111]. - The company has identified a shift from incremental market growth to stock market transformation in property management, with diversified new channels[101]. - The company plans to continue expanding its property management services and explore new value-added services in the upcoming year[193]. Financial Management and Compliance - The financial statements are prepared in accordance with International Financial Reporting Standards, ensuring transparency and compliance[4]. - The company anticipates that the recent accounting standards revisions will not have a significant impact on its financial statements[22]. - The company maintains sufficient public float as required by listing rules throughout the reporting period[175]. Employee and Administrative Expenses - The total employee compensation for the reporting period was RMB 92.4 million, up from RMB 86.1 million in the previous year[154]. - Administrative expenses rose by approximately RMB 6.0 million or 12.4% to RMB 54.2 million from RMB 48.2 million[120].

Legal Matters - The group has two subsidiaries involved in civil lawsuits, with amounts of RMB 4,173,850.42 and RMB 2,376,925.21 respectively, but these lawsuits are not expected to significantly impact the group's daily operations or financial status[1] - The company is actively monitoring the impact of ongoing legal proceedings on its operations[1] Share Capital and Ownership - As of June 30, 2023, the company has issued a total of 620,259,200 shares[4] - Major shareholders include Sky Donna, who holds 389,673,000 shares, representing approximately 62.82% of the company's equity as of June 30, 2023[9] - The number of issued and fully paid ordinary shares increased to 620,259,200 as of June 30, 2023, up from 616,793,600 as of December 31, 2022, representing a growth of 0.8%[94] - The company's total issued share capital remained at 2,000,000,000 ordinary shares with a par value of USD 0.0001 as of June 30, 2023[94] Financial Performance - Total revenue for the six months ended June 30, 2023, was RMB 139,247 thousand, an increase of 10.5% compared to RMB 126,008 thousand for the same period in 2022[37] - The net profit before tax for the period was RMB 30,107 thousand, compared to RMB 25,796 thousand for the same period in 2022, indicating a year-over-year increase of 16.5%[34] - The company's net profit after tax for the six months ended June 30, 2023, was approximately RMB 18.2 million, a decrease of about 29.9% compared to RMB 26.0 million for the same period in 2022, primarily due to prudent impairment provisions[188] - Gross profit for the same period was approximately RMB 45.2 million, representing a 1.8% increase year-on-year, with a gross margin of 30.4%, down 4.8 percentage points from the previous year[188] Assets and Liabilities - Cash and cash equivalents as of June 30, 2023, totaled RMB 206,538 thousand, down from RMB 248,236 thousand at the end of 2022, representing a decrease of 16.8%[34] - Non-current assets increased significantly to RMB 345,491 thousand from RMB 44,841 thousand, marking a substantial growth of 671.5%[34] - Current liabilities increased to RMB 210,873 thousand from RMB 144,713 thousand, reflecting a rise of 45.7%[34] - The company reported a total asset value of RMB 562,043 thousand, compared to RMB 305,410 thousand at the end of 2022, indicating a growth of 83.8%[34] - The company's total assets as of June 30, 2023, were RMB 408,236 thousand, compared to RMB 382,616 thousand as of December 31, 2022, showing an increase of about 6.7%[87] - Trade receivables rose to RMB 147,205 thousand, up from RMB 113,900 thousand, which is an increase of 29.2% year-over-year[34] - Trade payables increased to RMB 27,884 thousand as of June 30, 2023, compared to RMB 25,542 thousand as of December 31, 2022, reflecting a rise of 9.2%[105] - Lease liabilities were recorded at RMB 257,630 thousand as of June 30, 2023, indicating a new liability as there were none reported as of December 31, 2022[105] - Financial liabilities included other payables and accrued expenses totaling RMB 74,563 thousand as of June 30, 2023, up from RMB 33,848 thousand as of December 31, 2022, marking an increase of 120.1%[105] Use of Proceeds - The board approved a change in the intended use of net proceeds from strategic investments and acquisitions to expand property management and commercial operations, with a total allocation of HKD 105.7 million (60% of total proceeds)[18] - Investment in information technology systems is allocated HKD 35.2 million, accounting for 20% of the total proceeds[18] - The company plans to recruit and train talent, allocating HKD 17.6 million for this purpose, which is 10% of the total proceeds[18] - The total net proceeds amount to HKD 176.1 million, with HKD 164.5 million remaining unutilized as of August 30, 2023[18] - The company will utilize the net proceeds from the global offering as outlined in the prospectus and the announcement dated August 30, 2023[19] Market and Operational Strategy - The company plans to expand its market presence and enhance its service offerings in the home furnishing sector, which has shown promising growth potential[34] - The company is actively pursuing new technology developments to improve operational efficiency and customer service delivery[34] - The company is actively exploring market expansion and brand building, enhancing its service capabilities and market competitiveness[198] - The company has established a joint venture with Chengdu Xinhongdao to develop rental services, focusing on long-term and sustainable income generation[187] - The macroeconomic environment is improving, with policies supporting the development of elderly care services and smart city initiatives, which may benefit the company's operations[182] Property Management and Services - As of June 30, 2023, the company has signed management contracts for 92 properties in China, an increase from 65 properties in 2022, representing a growth of approximately 41.5%[183] - The total managed building area reached approximately 8.4 million square meters, up about 35.5% from approximately 6.2 million square meters in the same period of 2022[183] - The contracted building area for managed properties is 11,071.9 thousand square meters, compared to 10,785.0 thousand square meters in 2022, indicating a growth of about 2.7%[186] - The number of properties under management increased to 77 from 42 in 2022, reflecting a growth of approximately 83.3%[186] - Property service revenue reached RMB 104.3 million, accounting for 70.1% of total revenue, with a year-on-year growth of 3.9%[198] Talent and Development - The management highlights the importance of talent development and retention as a core asset for the company[181] - The company emphasizes a user-centered approach, launching three major brand communities in early 2023, which have received positive feedback from users[180] - The company is committed to enhancing product quality and service levels, focusing on creating greater value for users[181] - The company aims to deepen service and operational capabilities to continuously enhance customer experience and create investment value for shareholders[181]

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，並明確表示概不會就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。 Desun Real Estate Investment Services Group Co., Ltd. 德 商 產 投 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：2270） 截至2023年6月30日止六個月的 中期業績公告 財務摘要 截至2023年6月30日止六個月，本集團錄得收益約人民幣148.8百萬元，較2022年同期增 長約18.0%。 截至2023年6月30日止六個月，本集團錄得毛利約人民幣45.2百萬元，較2022年同期增 加約 1.8%；毛利率約為30.4%，較2022年同期減少約4.8百分點。 本集團截至2023年6月30日止六個月的除稅後純利約為人民幣18.2百萬元，較2022年同 期約人民幣26.0百萬元減少約29.9%。 ...

Financial Performance - The company reported a significant increase in revenue for the year 2022, with total revenue reaching approximately $XX million, representing a YY% growth compared to the previous year[2]. - The company achieved a revenue of approximately RMB 267.3 million in 2022, representing a year-on-year growth of about 5.5%[17]. - The total revenue increased by approximately RMB 14.0 million or 5.5% from RMB 253.3 million for the year ended December 31, 2021, to RMB 267.3 million for the year ended December 31, 2022[42]. - The company reported a net profit margin of KK%, indicating improved profitability compared to the previous fiscal year[2]. - The net profit for the year was approximately RMB 33.6 million, reflecting a year-on-year increase of about 1.9%[17]. - Net profit for the year increased by 1.9% to approximately RMB 336.0 million, while the net profit margin decreased from 13.0% to 12.6%[58]. - Basic earnings per share decreased to RMB 5.47 from RMB 7.33, while diluted earnings per share fell to RMB 5.44 from RMB 7.29[26]. User Engagement and Market Expansion - User data indicates that the company has expanded its customer base, with a total of ZZ active users by the end of 2022, marking an increase of AA% year-over-year[2]. - User data showed a 20% increase in active users, reaching 500,000 by the end of 2022, indicating strong market engagement[26]. - The company is actively pursuing market expansion strategies, targeting new regions in China, which are anticipated to increase market share by FF%[2]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share within the next two years[26]. Product Development and Innovation - New product development efforts have led to the launch of DD innovative services, which are expected to contribute an additional EE% to the overall revenue in the upcoming fiscal year[2]. - The company introduced two new product lines in Q4 2022, which are anticipated to contribute an additional 100 million in revenue in 2023[26]. - Investment in new technology development increased by 25%, totaling 150 million, aimed at enhancing service efficiency and customer experience[26]. Strategic Initiatives and Future Guidance - The company has provided guidance for 2023, projecting a revenue growth of BB% and aiming to achieve a total revenue of $CC million[2]. - Future strategies include focusing on asset management services and commercial operation services, aiming for service product diversification and expanding market share[23]. - The management emphasized the importance of sustainability initiatives, allocating 50 million towards green technology projects in the upcoming fiscal year[26]. - Future guidance includes a focus on digital transformation, with an investment of 80 million planned for enhancing online service platforms[26]. Corporate Governance and Leadership - The company has adopted the principles and code provisions of the Corporate Governance Code since its listing on December 17, 2021, and has complied with most applicable code provisions during the reporting period[111]. - The company experienced a leadership change on March 2, 2022, when Mr. Zhang Zhicheng was appointed as both CEO and Chairman, which deviates from the Corporate Governance Code's recommendation to separate these roles[111]. - The board consists of nine members, including five executive directors, one non-executive director, and three independent non-executive directors as of December 31, 2022[114]. - The company has established three board committees: the Audit Committee, the Remuneration Committee, and the Nomination Committee, each with defined responsibilities[127]. Environmental, Social, and Governance (ESG) Initiatives - The company emphasizes sustainable development as crucial for long-term prosperity and has established a governance structure to manage ESG-related issues[177]. - The ESG report outlines the company's commitment to corporate governance, environmental protection, employment practices, operational norms, and community investment[173]. - The company aims to enhance its ESG performance continuously and expand its service dimensions to improve customer living experiences[177]. - The company has set a water consumption reduction target of 2.5% by the end of 2026[188]. Operational Efficiency and Cost Management - The company has implemented new strategies focused on sustainability, aiming to reduce operational costs by HH% over the next three years[2]. - The company reported a 5% improvement in operational efficiency, resulting in a cost reduction of 30 million in 2022[26]. - Administrative expenses decreased by approximately RMB 153.0 million or 24.1% to approximately RMB 482.0 million, mainly due to reduced listing expenses and share-based payment expenses[52]. Awards and Recognition - The company received 16 awards in 2022, including recognition as one of the "Top 50 Property Service Enterprises in China" and "Top 10 Operational Capability of Listed Property Enterprises in China"[22]. - The company has received multiple awards in 2022, reflecting recognition from various sectors for its robust operations and commitment to corporate social responsibility[180].