Financial Performance - For the six months ended June 30, 2022, the company's total revenue was RMB 512.1 million, representing a 27.1% increase compared to the same period in 2021[13]. - The net profit attributable to equity shareholders was RMB 99.9 million, an increase of 25.5% compared to the adjusted net profit for the same period in 2021[13]. - The company recorded revenue of approximately RMB 512.1 million, representing a year-on-year increase of 27.1%[23]. - The net profit attributable to equity shareholders was RMB 99.9 million, a growth of 25.5% compared to the adjusted net profit of RMB 79.6 million from the previous year[23]. - The total managed floor area reached 22.1 million square meters, an increase of 76.4% year-on-year, while the contracted floor area was 31.0 million square meters, up 51.9%[22]. - The company achieved a management fee per square meter of RMB 3.15, maintaining a high level of property management fees[24]. - The company’s living service segment recorded revenue of approximately RMB 115.3 million, a year-on-year increase of 28.9%[23]. - The life services segment reported revenue growth of 28.9%, reaching RMB 115.3 million, which constituted 22.5% of total revenue[54]. - Revenue from lifestyle services increased to RMB 115.3 million, a rise of 29% compared to RMB 89.4 million in 2021[179]. - The company reported that revenue from non-owner value-added services was RMB 106.5 million, slightly up from RMB 101.3 million in the prior year[179]. - The company's total revenue increased by approximately RMB 109.3 million or 27.1% from RMB 402.8 million for the six months ended June 30, 2021, to RMB 512.1 million for the six months ended June 30, 2022[76]. - Gross profit increased by approximately RMB 37.3 million or 21.7% to approximately RMB 209.1 million for the six months ended June 30, 2022[83]. - The group maintained a current ratio of 2.4 times as of June 30, 2022, compared to 2.9 times as of December 31, 2021[106]. - The net profit for the group increased by approximately RMB 45.4 million or 77.1% to approximately RMB 104.3 million for the six months ended June 30, 2022[97]. Acquisitions and Expansion - The company completed its first acquisition post-IPO by acquiring 51% of Chengdu Mingyu Global Commercial Management Co., Ltd. on April 10, 2022[14]. - The company successfully completed its first acquisition post-IPO by acquiring Chengdu Mingyu, enhancing its competitiveness in commercial property management[41]. - The company acquired 51% equity in Chengdu Mingyu for RMB 180.1 million to expand its business scale and scope[111]. - The company plans to explore product supply opportunities with affiliated companies to diversify its product offerings[17]. - The company is focusing on regional development strategies, particularly in high-energy cities within the Chengdu-Chongqing economic circle and Huadu urban agglomeration[16]. - The company plans to deepen its market expansion in first-tier, new first-tier, and second-tier cities, where 89.7% of its managed floor area is located[36]. - The company plans to deepen its presence in urban clusters, particularly in the Chengdu-Chongqing area and East China, to enhance market position and brand influence[68]. - Strategic acquisitions, investments, and partnerships with third-party companies are part of the company's growth strategy moving forward[68]. Operational Efficiency and Cost Management - The management expense ratio decreased to 15.8%, down from 20.0% in the previous year, marking a reduction of 4.2%[23]. - Administrative expenses decreased by approximately RMB 20.3 million or 20.0% to approximately RMB 81.0 million, mainly due to the absence of listing expenses and management improvements[92]. - The central administrative costs decreased to RMB (87,129) thousand in 2022 from RMB (102,036) thousand in 2021, indicating improved cost management[191]. - Employee costs totaled RMB 175,552 thousand for the six months ended June 30, 2022, up from RMB 169,814 thousand in 2021, which is an increase of about 3.5%[195]. Customer Satisfaction and Service Quality - Customer satisfaction during the adjustment period reached 90 points, with a residential project renewal rate of 100%[16]. - The company aims to enhance service quality and customer experience through a systematic operation of its "Green Living Service System"[16]. - The company maintained a comprehensive project renewal rate of 86%, with a residential renewal rate of 100%[23]. - The company plans to enhance life services by focusing on community operations, online and offline retail, and catering services, leveraging partnerships with New Hope Group[69]. Market Trends and Industry Outlook - The property management industry is still in a rapid development phase, with a trend towards healthy growth, quality service, and brand operation[14]. - The company is committed to expanding its market presence while maintaining strong service capabilities to ensure sustainable growth[13]. - The company is exploring strategic partnerships in various sectors, including a collaboration with Qindao High-tech Property for new retail business trials[43]. - The company has implemented a standardized expansion guideline based on in-depth market analysis to ensure high-quality development and service delivery[42]. Financial Position and Assets - Total assets as of June 30, 2022, were RMB 1,337,849 thousand, slightly down from RMB 1,351,592 thousand at the end of 2021[155]. - The company's equity attributable to shareholders increased to RMB 994,677 thousand from RMB 952,849 thousand, reflecting a growth of 4.4%[157]. - The net cash position of the company was RMB 965,311 thousand, down from RMB 1,105,530 thousand at the end of 2021, indicating a decrease in liquidity[155]. - Trade receivables increased by approximately RMB 109.8 million or 58.0% to approximately RMB 299.1 million, driven by an increase in managed floor area and business growth[100]. - Current liabilities rose to RMB 560,838 thousand, compared to RMB 468,760 thousand at the end of 2021, indicating a 19.6% increase[155]. Governance and Compliance - The company is committed to maintaining high standards of corporate governance and has complied with all provisions of the corporate governance code as of June 30, 2022[123]. - The audit committee reviewed the unaudited interim results and found the risk management and internal control systems to be effective and adequate[142]. - The independent auditor did not find any issues that would lead to a belief that the interim financial report was not prepared in accordance with the relevant standards[146].

Company Overview - New Hope Service Holdings Limited was officially listed on the Hong Kong Stock Exchange on May 25, 2021, under stock code 3658.HK[11]. - The company established strategic cooperation agreements with various partners, including a collaboration with China Merchants Jinling for urban space services and a partnership with Beike to expand asset management business[12][13]. Business Expansion and Services - In 2021, the company expanded its service offerings to include canteen services, school services, and cultural tourism town services, achieving significant growth in multiple business lines[15]. - The company launched a green living service system and implemented several greening demonstration projects across the country[16]. - New Hope Service introduced new retail offerings, including customized gift boxes for various festivals, and expanded its real estate services to include residential and commercial leasing[18]. - The company implemented smart technology solutions, such as smart access control and cloud-based vehicle management, to enhance service efficiency and quality[19]. - The company expanded its operations to 23 cities, with 93.3% of the managed floor area located in tier-one, new tier-one, and tier-two cities[36]. - The company plans to deepen its market presence in urban clusters and enhance collaboration with New Hope Group to improve supply chain efficiency and service differentiation[44]. - The company plans to continue expanding its managed floor area and increasing local market penetration through new project acquisitions[76]. Financial Performance - For the fiscal year ending December 31, 2021, the company achieved a total revenue of RMB 925.0 million, representing a 57.2% increase compared to the same period in 2020[34]. - The profit attributable to equity shareholders was RMB 165.9 million, up 51.1% year-over-year, while the adjusted profit was RMB 186.6 million, reflecting a 60.6% increase[34]. - The company declared a final dividend of RMB 0.071 per share, resulting in an annual payout ratio of approximately 35.0%[34]. - Revenue from community life services amounted to RMB 253.5 million, a 116.2% increase year-over-year, contributing 27.4% to total revenue[38]. - The company achieved a revenue of approximately RMB 925.0 million in 2021, representing a year-on-year growth of 57.2%[48]. - Net profit for 2021 was RMB 165.9 million, an increase of 51.1% compared to the previous year, with an adjusted net profit of RMB 186.6 million, up 60.6%[48]. - The company maintained a high net profit margin of 17.9%, with an adjusted net profit margin of 20.2%, which is an increase of 0.4% year-over-year[48]. - The total contracted floor area reached 26.4 million square meters, a 72.2% increase year-on-year, while the managed floor area grew by 58.3% to 16.2 million square meters[47]. Operational Efficiency - The management expense ratio decreased to 16.0%, down 3.0% from the previous year, reflecting improved operational efficiency[48]. - The company plans to enhance operational efficiency through lean management practices, focusing on cost reduction and service improvement[101]. - Continued investment in technology aims to improve service quality and operational efficiency, including the development of smart community systems and customer service enhancements[100]. Employee and Management - As of December 31, 2021, the group had approximately 3,162 employees, a decrease from 3,442 employees as of December 31, 2020[148]. - Total employee costs for the reporting period amounted to approximately RMB 339.4 million, compared to RMB 256.3 million for the year ended December 31, 2020[148]. - The company plans to recruit approximately 200 to 400 personnel for various positions, including management interns and senior management, to support regional expansion by December 31, 2023[165]. Strategic Initiatives - The company plans to invest in a standardized management system to improve operational efficiency and service quality by December 31, 2023[155]. - The company aims to invest in four smart community pilot projects in the Chengyu urban agglomeration, with a budget of approximately HKD 42.6 million[160]. - The management team emphasizes the importance of strategic acquisitions and investments to support business expansion[165]. Leadership and Governance - Zhang has been appointed as the Executive Chairman and CEO of New Hope Liuhe Co., Ltd. since September 2020, overseeing overall management[183]. - The company has seen significant leadership changes, with multiple executives taking on strategic roles to guide overall development and business strategy[184]. - The management team includes individuals with extensive experience in finance, corporate governance, and investment relations, enhancing the company's strategic capabilities[193]. - New Hope Liuhe Co., Ltd. has a commitment to sustainable development and corporate governance, as highlighted by the expertise of its independent directors[193].

Financial Data and Key Indicators Changes - In 2021, the company's revenue reached 9.25 billion RMB, representing a growth of 57.2% compared to 2020 [15][16] - The net profit, after deducting listing expenses, was 1.87 billion RMB, with a growth rate of 60.6% [16][17] - The overall gross margin decreased slightly from 42.1% in 2020 to 40.7% in 2021, primarily due to changes in revenue structure [27][28] Business Line Data and Key Indicators Changes - Property management services grew by 67.2%, while life services saw a significant increase of 116% [15][16] - The independent third-party property management area increased to 28.7%, a year-on-year growth of 312% [4][21] - Life services accounted for 27.4% of total revenue, up from 19.9% in 2020 [16][22] Market Data and Key Indicators Changes - The company achieved a 50% market share in the Southwest region and 35% in the East China region, with over 80% of projects located in first-tier and new first-tier cities [5][6] - The growth rate in the East China region exceeded 80% [5][6] Company Strategy and Development Direction - The company aims to enhance service capabilities, improve cost management, and leverage technology to boost operational efficiency [11][12] - Future strategies include focusing on high-paying customers, expanding service offerings, and maintaining a strong emphasis on community service [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving a revenue and profit growth of approximately 30% to 40% in 2022, driven by continued expansion in property management and life services [20][21] - The company is optimistic about the supportive policies for the service industry and aims to enhance its market competitiveness [11][12] Other Important Information - The company plans to maintain a dividend payout ratio of 35% and aims to reward shareholders while ensuring sustainable growth [29][30] - The cash reserves are robust, with 1.1 billion RMB available for future investments and acquisitions [18][30] Q&A Session Summary Question: What are the revenue and profit growth targets for 2022? - The company anticipates a revenue and profit growth of approximately 30% to 40% in 2022, with property management and life services as key drivers [20] Question: How does the company view the sustainability of revenue contributions from the parent company? - The company has reduced its reliance on the parent company, with third-party contributions exceeding those from the parent for the first time [21][22] Question: What are the main reasons for the rapid growth in the life services segment? - Growth is attributed to an increase in customer scale and the introduction of diverse services that meet community needs [23][24] Question: What is the company's approach to maintaining its gross margin? - The company expects gross margins to remain in the range of 38% to 40% in the short term, with a focus on cost management and efficiency improvements [27][28] Question: What are the company's plans for future investments? - The company will pursue both market expansion and strategic acquisitions, focusing on complementary businesses in property management and life services [30][31]

Financial Performance - For the six months ended June 30, 2021, the company achieved revenue of approximately RMB 402.8 million, representing a year-on-year increase of about 75.7%[30]. - Gross profit for the same period was approximately RMB 171.8 million, up approximately 72.9% compared to the previous year[30]. - Net profit, excluding listing expenses, was approximately RMB 79.6 million, reflecting an increase of about 82.8% year-on-year[30]. - The company's total revenue increased by RMB 173.5 million or 75.7% from RMB 229.3 million for the six months ended June 30, 2020, to RMB 402.8 million for the six months ended June 30, 2021[85]. - The company reported a profit of RMB 58,897 thousand for the six months ended June 30, 2021, compared to RMB 43,548 thousand for the same period in 2020, reflecting a growth of 35.3%[179]. - The company reported a basic and diluted earnings per share of RMB 0.09, compared to RMB 0.08 for the same period last year[167]. - The total comprehensive income for the six months ended June 30, 2021, was RMB 58,874 thousand, compared to RMB 43,548 thousand for the same period in 2020, indicating a year-over-year increase of 35.1%[179]. Revenue Breakdown - Revenue from property management services reached RMB 145,939.6 thousand for the six months ended June 30, 2021, a significant increase from RMB 81,108.8 thousand in the same period last year, marking an increase of 80%[56]. - Revenue from non-owner value-added services increased to RMB 101,319,000, a rise of 58.5% from RMB 63,996,000[191]. - Revenue from commercial operation services was RMB 66,177,000, up 29.2% from RMB 51,226,000[191]. - Life services revenue grew from RMB 33.0 million to RMB 89.4 million, representing 22.2% of total revenue, reflecting the expansion of service offerings[86]. - The company’s customer base is diversified, with no single customer contributing 10% or more of total revenue during the reporting period[191]. Operational Expansion - The managed building area increased by 79.7% year-on-year to 12.5 million square meters, while the contracted area rose by 51.4% to 20.4 million square meters[32]. - The company expanded its presence in key cities, increasing the number of managed projects to 82 and the number of cities to 18[32]. - The number of managed properties increased by 67.3% to 82, while the number of contracted properties rose by 51.9% to 123[46]. - The company plans to continue expanding in first-tier, new first-tier, and second-tier cities in the Chengdu-Chongqing economic circle and East China region[75]. - The company aims to diversify its managed property portfolio by increasing management of non-residential properties such as school projects and public construction projects[75]. Cost and Profitability - Total sales costs rose to approximately RMB 231.0 million for the six months ended June 30, 2021, an increase of approximately RMB 101.0 million or 77.8% compared to approximately RMB 130.0 million for the same period in 2020[91]. - Gross profit increased by RMB 72.4 million or 72.9% to RMB 171.8 million for the six months ended June 30, 2021, compared to RMB 99.4 million for the same period in 2020[92]. - The overall gross margin decreased by 0.6 percentage points to 42.7% for the six months ended June 30, 2021, compared to 43.3% for the same period in 2020[94]. - The company achieved a net profit margin of 19.8% (excluding one-time listing expenses) as of June 30, 2021[41]. Strategic Initiatives - The company plans to strengthen cooperation with New Hope Real Estate Group to explore more possibilities in community micro-ecosystems[34]. - The company aims to enhance service quality and operational efficiency through increased technology investment[38]. - The company is positioned as a "民生服务运营商" (livelihood service operator) to drive sustainable and steady growth through quality service and scale expansion[38]. - The company plans to actively seek opportunities through strategic acquisitions and investments to manage properties developed by independent third-party developers[75]. - The company is focused on enhancing its market position through strategic acquisitions and investments in service providers[138]. Corporate Governance and Compliance - The board confirmed compliance with corporate governance codes since the listing date on May 25, 2021[127]. - The company has maintained effective risk management and internal control systems, ensuring compliance with relevant regulations[161]. - The financial report is unaudited but has been reviewed by KPMG in accordance with the relevant standards[187]. Employee and Operational Efficiency - The total employee cost for the period was approximately RMB 21.3 million, an increase from RMB 12.8 million for the same period in 2020[125]. - The company plans to recruit 200 to 400 personnel across various positions to support business expansion, including management interns and senior management roles[151]. - The company aims to improve customer service quality and operational efficiency through increased technology investment, focusing on customer service, technology empowerment, and lean management[82]. - The company plans to enhance its financial reporting and management systems to improve data generation and analysis for key performance indicators, including costs and profits[146]. Cash Flow and Liquidity - Cash and cash equivalents increased to RMB 1,073,837,000 from RMB 112,614,000, indicating improved liquidity[170]. - The group maintained a net cash position with no interest-bearing borrowings as of June 30, 2021, compared to net cash as of December 31, 2020[113]. - The net cash generated from operating activities for the six months ended June 30, 2021, was RMB 160,008 thousand, compared to RMB 89,977 thousand for the same period in 2020, representing an increase of 77.5%[184].