Financial Performance - The company achieved a revenue of approximately RMB 1,365.1 million for the year ended December 31, 2024, an increase of about RMB 51.8 million or approximately 3.9% compared to RMB 1,313.3 million in 2023[8]. - Gross profit was approximately RMB 349.6 million, up by about RMB 13.4 million or approximately 4.0% from RMB 336.2 million in the previous year[8]. - Net profit after tax decreased to approximately RMB 86.6 million, down by about RMB 27.5 million or approximately 24.1% from RMB 114.1 million in 2023[8]. - The property management service revenue reached approximately RMB 1,077.9 million, an increase of about RMB 90.4 million or approximately 9.2% from RMB 987.5 million in 2023[22]. - Community value-added service revenue rose by approximately RMB 4.5 million or 1.8% to approximately RMB 258.0 million for the year ended December 31, 2024[31]. - Non-owner value-added service revenue decreased by approximately RMB 43.1 million or 59.6% to approximately RMB 29.2 million for the year ended December 31, 2024[33]. - The gross profit from property management services increased by approximately RMB 20.4 million or about 9.3% to approximately RMB 238.8 million in 2024[46]. - The gross profit from community value-added services increased by approximately RMB 6.4 million or about 6.5% to approximately RMB 105.1 million in 2024, with the gross profit margin rising from 38.9% to 40.7%[47]. - The gross profit from non-owner value-added services decreased by approximately RMB 13.4 million or about 69.8% to approximately RMB 5.8 million in 2024, with the gross profit margin dropping from 26.5% to 19.8%[48]. Operational Growth - The total number of properties managed increased to 394, with a total managed area of approximately 62.2 million square meters, representing an increase of about 6.4 million square meters or approximately 11.5% from 2023[9]. - The total number of contracted projects rose to 422, with a total contracted area of approximately 70.2 million square meters, an increase of about 5.5 million square meters or approximately 8.5% compared to 2023[9]. - The number of managed projects increased from 335 to 394, contributing to the growth in property management service revenue[35]. - The company expanded its geographical coverage to 45 cities across 18 provinces and municipalities, enhancing its market presence significantly[25]. - The company actively pursued market expansion, adding over 80 new contracted projects during the year, showcasing strong market competitiveness and growth potential[22]. Corporate Governance - The board consists of eight members, including two executive directors, two non-executive directors, and four independent non-executive directors as of December 31, 2024[98]. - The company has adopted and complied with the Corporate Governance Code as per the Listing Rules Appendix C1 for the year ending December 31, 2024[95]. - The board has ensured that at least three independent non-executive directors are appointed, with one possessing appropriate professional qualifications or accounting expertise as required by Listing Rules 3.10(1) and 3.10(2)[101]. - The company has arranged appropriate liability insurance for directors and senior management to cover compensation liabilities arising from corporate activities for the year[97]. - The board is responsible for overseeing the company's business, strategic decisions, and performance, ensuring objective decisions in the best interest of the company[97]. Employee and Shareholder Engagement - The employee cost totaled approximately RMB 425.8 million for the year ended December 31, 2024, down from RMB 446.5 million in 2023, with a workforce of 4,951 employees[71]. - The company has established various communication channels for shareholders to directly engage with the board[153]. - All resolutions presented at the shareholders' meetings are subject to voting in accordance with listing rules, with results published promptly[154]. - Each director participated in at least 15 hours of relevant professional training to update their knowledge and skills during the year[106]. Environmental, Social, and Governance (ESG) Initiatives - The ESG report covers the company's main business in property management services in China and includes key environmental performance indicators[160]. - The company aims to expand the scope and depth of its sustainability performance monitoring in the future[160]. - The company has established a comprehensive environmental management system and obtained ISO 14001:2015 certification, ensuring compliance with environmental laws and regulations[191]. - The company has identified nine key issues for focus, including energy consumption, employee welfare, occupational health and safety, and customer data privacy, which will be highlighted in the report[190]. - The company has implemented risk mitigation measures and internal controls to manage identified environmental, social, and governance risks[179]. Sustainability and Environmental Performance - The company’s nitrogen oxide emissions decreased significantly from 203.18 kg in 2023 to 29.43 kg in 2024, representing a reduction of approximately 85.5%[196]. - Total greenhouse gas emissions (Scope 1, 2, and 3) dropped from 57,580.14 tons CO2 equivalent in 2023 to 38,676.21 tons CO2 equivalent in 2024, a decrease of about 32.8%[196]. - The company achieved a greenhouse gas reduction of 1.27 tons CO2 equivalent in 2024, up from 0.9 tons in 2023, indicating a positive trend in emissions management[196]. - The total energy consumption for the company reached 93,526.45 thousand kWh in 2024, compared to 90,536.66 thousand kWh in 2023, marking an increase of about 3.3%[200]. - The company encourages employees to use video or phone conferencing instead of business travel to reduce greenhouse gas emissions[197].

Financial Performance - For the fiscal year ending December 31, 2024, the group's total revenue was approximately RMB 1,365.1 million, an increase of about RMB 51.8 million or approximately 3.9% compared to RMB 1,313.3 million in the same period of 2023[2] - The group's gross profit for the fiscal year ending December 31, 2024, was approximately RMB 349.6 million, an increase of about RMB 13.4 million or approximately 4.0% from RMB 336.2 million in 2023, with a gross profit margin of approximately 25.6%[2] - The group's profit after tax for the fiscal year ending December 31, 2024, was approximately RMB 86.6 million, a decrease of about RMB 27.5 million or approximately 24.1% from RMB 114.1 million in 2023, resulting in a net profit margin of approximately 6.3%[2] - Earnings per share attributable to equity shareholders for the fiscal year ending December 31, 2024, was RMB 9.71, down from RMB 13.91 in 2023[3] - The total comprehensive income for the year was RMB 86.5 million, down from RMB 118.5 million in 2023[3] Revenue Breakdown - The group's revenue from property management services for 2024 reached RMB 1,077,895 thousand, an increase of 9.1% compared to RMB 987,472 thousand in 2023[17] - Community value-added services generated revenue of RMB 241,491 thousand in 2024, a slight decrease of 0.7% from RMB 243,069 thousand in 2023[17] - Property management service revenue for the year ending December 31, 2024, is approximately RMB 1,077.9 million, an increase of about RMB 90.4 million or approximately 9.2% compared to RMB 987.5 million in the same period of 2023[70] - Community value-added service revenue reached approximately RMB 258.0 million, an increase of about RMB 4.5 million or approximately 1.8% compared to RMB 253.5 million in the same period of 2023[77] - Non-owner value-added service revenue decreased to approximately RMB 29.2 million, a reduction of about RMB 43.1 million or approximately 59.6% from RMB 72.3 million in 2023[78] Cost and Expenses - The group's administrative expenses increased to RMB 206.1 million in 2024 from RMB 186.6 million in 2023[3] - The group's finance costs rose to RMB 3.7 million in 2024 from RMB 1.4 million in 2023[3] - The sales cost increased from approximately RMB 977.1 million in 2023 to about RMB 1,015.5 million in 2024, representing an increase of approximately RMB 38.4 million or about 3.9%[85] - Total employee costs for the year amounted to approximately RMB 425.8 million, down from RMB 446.5 million in 2023, representing a decrease of about 4.8%[110] Assets and Liabilities - Total assets as of December 31, 2024, amounted to RMB 1,727,524 thousand, an increase from RMB 1,652,473 thousand in 2023, reflecting a growth of approximately 4.5%[4] - Non-current assets decreased slightly to RMB 720,143 thousand in 2024 from RMB 704,341 thousand in 2023, a decline of about 2.0%[4] - Current assets increased significantly to RMB 1,007,381 thousand in 2024, up from RMB 948,132 thousand in 2023, representing a growth of approximately 6.2%[4] - Current liabilities increased to RMB 890,924 thousand in 2024 from RMB 805,535 thousand in 2023, an increase of approximately 10.6%[4] - The company's net asset value as of December 31, 2024, was RMB 769,083 thousand, a decrease from RMB 777,306 thousand in 2023, reflecting a decline of about 1.5%[5] Operational Metrics - The total managed construction area as of December 31, 2024, was approximately 62.2 million square meters, an increase of about 6.4 million square meters or approximately 11.5% compared to 55.8 million square meters in 2023[2] - The total contracted construction area as of December 31, 2024, was approximately 70.2 million square meters, an increase of about 5.5 million square meters or approximately 8.5% from 64.7 million square meters in 2023[2] - The company managed 394 property service projects across 45 cities in 18 provinces and municipalities, with a total managed construction area of approximately 62.2 million square meters, an increase of about 6.4 million square meters or approximately 11.5% from 55.8 million square meters in 2023[59] - The total number of contracted projects reached 422, with a total contracted construction area of approximately 70.2 million square meters, an increase of about 5.5 million square meters or approximately 8.5% from 64.7 million square meters in 2023[59] Strategic Initiatives - The company has maintained its focus on property management services and related value-added services in China, indicating a strategic commitment to market expansion[6] - The company is focusing on enhancing service quality as a core competitive advantage to expand market share[62] - The company is actively exploring AI technology integration to improve service efficiency and optimize customer experience[64] - The group has implemented a national expansion strategy, leveraging its operational headquarters in Chengdu to strengthen its market position in the Southwest region[71] - The group has established a new collaborative development model by integrating internal resources with external partners for market expansion[71] Governance and Compliance - The board approved the financial statements for the year ended December 31, 2024, on March 28, 2025, ensuring compliance with international financial reporting standards[8] - The company has maintained high standards of corporate governance, adhering to all provisions of the corporate governance code as of December 31, 2024[112] - The audit committee has reviewed the annual performance and consolidated financial statements for the year ended December 31, 2024[115] Other Notable Information - The company did not declare a final dividend for the year ending December 31, 2024, consistent with the previous year[32] - The company has not engaged in any purchases, sales, or redemptions of its listed securities during the year ended December 31, 2024[114] - The company will suspend the registration of shareholders from May 27, 2025, to May 30, 2025, for the upcoming annual general meeting[118] - The annual report for the year ended December 31, 2024, will be sent to shareholders and made available on the company's website[122]

Financial Performance - For the six months ended June 30, 2024, the group reported revenue of approximately RMB 672.0 million, an increase of about 3.9% compared to the same period in 2023[3]. - Gross profit for the same period was approximately RMB 188.4 million, a decrease of about 5.4% year-on-year[3]. - Net profit after tax was approximately RMB 54.1 million, representing a decrease of about 26.2% compared to the previous year[3]. - The total comprehensive income for the period was RMB 54,078,000, compared to RMB 72,984,000 in 2023, a decrease of around 26.1%[81]. - Basic and diluted earnings per share for the company were RMB 7.06, down from RMB 9.68 in the same period last year, a decline of approximately 27.0%[81]. - The net profit decreased by approximately RMB 19.2 million or about 26.2% to approximately RMB 54.1 million, primarily due to increased maintenance costs and upfront investment costs for new property service projects[41]. - The company reported a profit attributable to equity shareholders of RMB 39,539,000, a decrease from RMB 54,211,000 for the same period in 2023, representing a decline of approximately 27.2%[107]. Property Management and Services - The group managed 367 property service projects across 46 cities in 19 provinces and municipalities, with a total managed building area of approximately 61.1 million square meters, an increase of about 9.9% year-on-year[3]. - Property management service revenue reached approximately RMB 536.6 million, an increase of about RMB 44.0 million or approximately 8.9% compared to RMB 492.6 million in the same period of 2023[10]. - The total contracted building area reached approximately 68.7 million square meters, up about 7.8% from approximately 63.7 million square meters in the same period last year[3]. - The group has expanded its property management services to 46 cities across 19 provinces and municipalities in China[12]. - The group has successfully signed over 40 new projects in the first half of the year, enhancing its market expansion capabilities[11]. - Revenue from residential properties accounted for 87.9% of total property management service revenue, amounting to RMB 471.9 million, while non-residential properties contributed 12.1% with RMB 64.7 million[19]. Service Quality and Customer Satisfaction - The group is focusing on enhancing service quality and customer satisfaction through the implementation of a 2024 quality improvement plan[5]. - The introduction of the "Warm Service" model aims to elevate service from "satisfactory" to "moving," enhancing community life quality[5]. - The group emphasizes service quality as a core foundation, implementing a "Warm Service" model to improve employee service skills and enhance customer satisfaction[11]. - The company aims to enhance community living services through innovative business models and operational strategies[21]. Operational Strategy and Market Expansion - The company is actively adjusting its operational strategy to address challenges in the property service industry, emphasizing market expansion and digital transformation[6]. - The group aims to establish external partnership mechanisms to facilitate rapid project expansion and continuous improvement in management scale[6]. - The company aims to enhance service quality and expand into new market opportunities, including commercial properties, government agencies, schools, and hospitals[24]. Financial Position and Assets - As of June 30, 2024, the group's cash and cash equivalents decreased from approximately RMB 378.2 million on December 31, 2023, to approximately RMB 166.7 million[49]. - The group's net current assets increased from approximately RMB 142.6 million on December 31, 2023, to approximately RMB 153.4 million on June 30, 2024, resulting in a current ratio of approximately 1.20 times[49]. - Trade receivables increased from approximately RMB 388.3 million to approximately RMB 477.9 million, mainly due to natural growth following business expansion[46]. - The total assets minus current liabilities amounted to RMB 874,223 thousand, an increase from RMB 846,938 thousand as of December 31, 2023, representing a growth of approximately 3.9%[82]. - The company reported a total equity of RMB 806,454 thousand as of June 30, 2024, up from RMB 777,306 thousand at the end of 2023, marking an increase of about 3.7%[83]. Challenges and Risks - Non-owner value-added services revenue decreased by 50.6% to approximately RMB 19.8 million, down from RMB 40.1 million in 2023[22]. - The company incurred finance costs of RMB 1,810,000 for the six months ended June 30, 2024, significantly higher than RMB 229,000 for the same period in 2023, marking an increase of approximately 687.0%[99]. - The company is implementing targeted improvement measures to address challenges in business development, including strengthening assessments and focusing on product categorization[21]. Governance and Compliance - The company confirmed compliance with the Standard Code for Directors' Securities Transactions as of June 30, 2024[64]. - The Audit Committee, consisting of three independent non-executive directors, reviewed the unaudited interim results for the six months ended June 30, 2024[65]. - The company’s governance practices are in line with the requirements set forth in the relevant regulations[66].

Financial Performance - The group's total revenue increased by approximately 3.9% from RMB 646.8 million for the six months ended June 30, 2023, to approximately RMB 672.0 million for the six months ended June 30, 2024[1]. - The group's gross profit decreased by approximately 5.4% from RMB 199.1 million for the six months ended June 30, 2023, to approximately RMB 188.4 million for the six months ended June 30, 2024[1]. - The group's profit after tax decreased by approximately 26.2% from RMB 73.3 million for the six months ended June 30, 2023, to approximately RMB 54.1 million for the six months ended June 30, 2024[1]. - The total comprehensive income for the period decreased from RMB 72.98 million for the six months ended June 30, 2023, to RMB 54.08 million for the six months ended June 30, 2024[2]. - The company's net profit attributable to equity shareholders for the six months ended June 30, 2024, was RMB 39,539,000, a decrease from RMB 54,211,000 for the same period in 2023, representing a decline of approximately 27.2%[24]. - Basic earnings per share for the six months ended June 30, 2024, was RMB 7.06, down from RMB 9.68 for the same period in 2023, reflecting a decrease of about 27.0%[24]. Revenue Sources - Revenue from property management services was RMB 536,596 thousand, up 8.9% from RMB 492,628 thousand in the previous year[9]. - The group’s rental income increased to RMB 7,949 thousand, compared to RMB 4,388 thousand for the same period last year, representing an increase of 81.5%[9]. - The property management service revenue from residential properties accounted for approximately 87.9% of total revenue, with RMB 471.9 million generated from this segment[49]. - Community value-added services revenue reached approximately RMB 115.6 million for the six months ended June 30, 2024, an increase of about RMB 1.5 million or approximately 1.3% compared to RMB 114.1 million for the same period in 2023[50]. - Non-owner value-added services revenue decreased to approximately RMB 19.8 million for the six months ended June 30, 2024, a decline of about RMB 20.3 million or approximately 50.6% from RMB 40.1 million in the same period of 2023[52]. Assets and Liabilities - Non-current assets amounted to approximately RMB 720.8 million as of June 30, 2024, compared to RMB 704.3 million as of December 31, 2023[3]. - Current assets totaled approximately RMB 936.7 million as of June 30, 2024, down from RMB 948.1 million as of December 31, 2023[3]. - The total equity attributable to equity shareholders of the company increased from RMB 696.9 million as of December 31, 2023, to RMB 736.4 million as of June 30, 2024[4]. - The total liabilities as of June 30, 2024, were RMB 431,756,000, slightly down from RMB 435,602,000 as of December 31, 2023[29]. - Trade receivables from third parties increased to RMB 484,432,000 as of June 30, 2024, from RMB 397,572,000 as of December 31, 2023, representing a growth of about 21.8%[27]. Operational Metrics - The total managed construction area increased by approximately 9.9% from 55.6 million square meters as of June 30, 2023, to approximately 61.1 million square meters as of June 30, 2024[1]. - The total contracted construction area increased by approximately 7.8% from 63.7 million square meters as of June 30, 2023, to approximately 68.7 million square meters as of June 30, 2024[1]. - The number of managed projects increased from 329 to 367 during the reporting period[54]. - The group successfully expanded and signed over 40 new projects during the first half of the year, enhancing its market competitiveness[46]. - The group operates in 46 cities across 19 provinces and municipalities, demonstrating significant geographical expansion[46]. Cost and Expenses - The group's cost of sales increased from approximately RMB 447.8 million for the six months ended June 30, 2023, to approximately RMB 483.7 million for the six months ended June 30, 2024, representing an increase of about RMB 35.9 million or approximately 8.0%[59]. - Administrative expenses increased from approximately RMB 92.9 million for the six months ended June 30, 2023, to approximately RMB 99.7 million for the six months ended June 30, 2024, an increase of about RMB 6.8 million or approximately 7.3%[66]. - The group's profit for the period decreased by approximately RMB 19.2 million or about 26.2%, from approximately RMB 73.3 million to approximately RMB 54.1 million, primarily due to increased maintenance costs and other expenses[69]. Strategic Initiatives - The company aims to enhance service quality and customer satisfaction through a 2024 quality and customer satisfaction improvement plan[39]. - The company is focusing on community value-added services as a key growth driver, particularly in housing and vehicle-related services[42]. - Future strategies include exploring new market opportunities beyond traditional residential community services, extending into commercial and institutional sectors[53]. - The company plans to leverage technology and big data analysis to better understand and meet the potential needs of property owners[53]. Other Information - The group did not adopt any new accounting standards that had a significant impact on the interim financial statements for the current period[7]. - The company did not declare an interim dividend for the six months ended June 30, 2024, consistent with the previous period[22]. - The group maintained a net cash position with a debt-to-equity ratio reflecting no significant debt as of June 30, 2024[84]. - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the six months ended June 30, 2024[87].

Financial Performance - The group's net profit for the year was approximately RMB 114.1 million, an increase of about 10.1% compared to the same period in 2022[25]. - Shareholders' profit attributable to the company was approximately RMB 77.9 million, representing a 13.4% increase year-on-year[25]. - For the year ended December 31, 2023, the group reported total revenue of approximately RMB 1,313.3 million, an increase of about 26.1% compared to the same period in 2022[36]. - The gross profit for the same period was approximately RMB 336.2 million, reflecting a year-on-year increase of about 13.9%[45]. - Basic earnings per share were approximately RMB 0.1391[25]. - The group reported a total revenue of RMB 1,313.3 million for the year, up 26.1% from RMB 1,041.2 million in 2022[88]. - Total revenue increased by approximately RMB 272.1 million or 26.1% from about RMB 1,041.2 million in 2022 to approximately RMB 1,313.3 million in 2023, driven by acquisitions and market expansion efforts[101]. - Overall gross profit increased by approximately RMB 40.9 million or 13.9% from about RMB 295.3 million in 2022 to approximately RMB 336.2 million in 2023, although the gross profit margin decreased from about 28.4% to 25.6%[107]. - The group's net profit for the year increased by approximately RMB 10.5 million or about 10.1% from approximately RMB 103.6 million in 2022 to approximately RMB 114.1 million in 2023[128]. Revenue Breakdown - Property management service revenue reached approximately RMB 987.5 million, up about 26.7% from RMB 779.4 million in 2022, accounting for approximately 75.2% of total revenue[38]. - Community value-added service revenue was approximately RMB 253.5 million, representing a year-on-year increase of about 43.7%[45]. - Revenue from property management services accounted for 75.2% of total revenue in 2023, reflecting the core business focus[88]. - Community value-added service revenue reached RMB 253.5 million, a significant increase of 43.7% from RMB 176.4 million in 2022[90]. - Property management service revenue rose by approximately RMB 208.1 million or 26.7% from about RMB 779.4 million in 2022 to approximately RMB 987.5 million in 2023, attributed to increased project acquisition and the impact of subsidiary acquisitions[103]. Project Management and Expansion - The total number of projects under management reached 335, with a total managed construction area of approximately 55.8 million square meters, an increase of about 8.6% from approximately 51.4 million square meters in 2022[27]. - The number of contracted projects was 359, with a total contracted construction area of approximately 64.7 million square meters, up about 3.7% from approximately 62.4 million square meters in 2022[27]. - As of December 31, 2023, the group provided property management services across 42 cities in 17 provinces and municipalities in China, with a total contracted project count of 359 and a total contracted building area of approximately 64.7 million square meters, up from 62.4 million square meters in 2022[54]. - The southwestern region accounted for approximately 53.0% of the total managed construction area, with about 29.6 million square meters[27]. - The group established its operational headquarters in Chengdu at the end of 2023 to enhance market development in the Southwest region, resulting in over 60 new contracted projects and additional revenue of approximately RMB 200 million[74]. Cost and Expenses - Sales costs rose by approximately RMB 231.2 million or 31.0% from about RMB 745.9 million in 2022 to approximately RMB 977.1 million in 2023, primarily due to increased employee costs and maintenance expenses[106]. - Administrative expenses increased by approximately RMB 40.8 million or 28.0% from about RMB 145.8 million in 2022 to approximately RMB 186.6 million in 2023, mainly due to business expansion and acquisitions[112]. - The total employee cost for the year ended December 31, 2023, was approximately RMB 446.5 million, an increase from RMB 383.4 million in 2022, with a total of 4,849 employees as of December 31, 2023[155]. Strategic Initiatives - The company aims to enhance market share, improve scale efficiency, and optimize regional layout to strengthen regional service capabilities and market competitiveness[24]. - The company is committed to a three-year development plan, maintaining service quality, and adhering to the principle of shared benefits[24]. - The group is focused on enhancing service quality and expanding community value-added services to meet owner needs[51]. - The company aims to strengthen its market expansion efforts and steadily increase business scale[51]. - The group plans to increase technology investments to enhance smart property management and improve operational efficiency[87]. - The management team emphasized the importance of sustainability initiatives, aiming to reduce operational costs by 5% through eco-friendly practices[185]. Corporate Governance and Compliance - The board of directors is committed to maintaining strong corporate governance practices, ensuring transparency and accountability in all operations[185]. - The company has adopted and complied with the corporate governance principles and rules as outlined in the Listing Rules Appendix C1[195]. - The company has implemented the Standard Code for securities trading by directors and employees as per Listing Rules Appendix C3[196]. Community Engagement - A total of 2,943 community cultural activities were organized, enhancing connections among residents[199].

Financial Performance - For the fiscal year ending December 31, 2023, the company reported total revenue of RMB 1,313,283 thousand, an increase of 26.1% from RMB 1,041,221 thousand in 2022[1]. - Gross profit for the year was RMB 336,216 thousand, up from RMB 295,308 thousand in the previous year, reflecting a gross margin improvement[1]. - The net profit for the year was RMB 114,134 thousand, representing a 10.5% increase compared to RMB 103,564 thousand in 2022[1]. - Basic and diluted earnings per share increased to RMB 13.91 from RMB 12.27, indicating improved profitability on a per-share basis[1]. - The total profit attributable to equity shareholders for 2023 is RMB 77,899,000, compared to RMB 68,718,000 in 2022, reflecting a growth of 13.5%[63]. - The company's net profit for the year was approximately RMB 114.1 million, representing an increase of about 10.1% compared to the same period in 2022[133]. - The gross profit from property management services increased by approximately RMB 30.7 million or about 16.4% to approximately RMB 218.4 million[121]. - Overall gross profit increased by approximately RMB 40.9 million or about 13.9% to approximately RMB 336.2 million in 2023 from approximately RMB 295.3 million in 2022[182]. Revenue Breakdown - The group's revenue from property management services increased to RMB 987,472,000 in 2023, up from RMB 779,422,000 in 2022, representing a growth of approximately 26.7%[30]. - Community value-added services revenue rose to RMB 243,069,000 in 2023, compared to RMB 172,569,000 in 2022, marking an increase of about 40.9%[30]. - Community value-added services revenue reached approximately RMB 253.5 million, up approximately 43.7% year-on-year[140]. - Revenue from non-owner value-added services decreased by 15.4% to RMB 72.275 million, down from RMB 85.392 million in the previous year[172]. Assets and Liabilities - The company's total assets as of December 31, 2023, were RMB 948,132 thousand, slightly up from RMB 928,537 thousand in 2022[2]. - Current liabilities decreased to RMB 805,535 thousand from RMB 867,682 thousand in the previous year, indicating improved liquidity[2]. - The company's cash and cash equivalents increased significantly to RMB 378,205 thousand from RMB 275,922 thousand in 2022, enhancing financial stability[2]. - Trade receivables from third parties increased to RMB 397,572,000 in 2023 from RMB 382,025,000 in 2022, showing a rise of 4.1%[68]. - The expected credit loss provision for trade receivables rose to RMB 86,364,000 in 2023 from RMB 67,766,000 in 2022, an increase of 27.4%[72]. - The group's borrowings increased to approximately RMB 55.0 million as of December 31, 2023, up from approximately RMB 9.0 million in 2022[198]. IFRS and Accounting Standards - The group has adopted new and revised International Financial Reporting Standards (IFRS) effective from January 1, 2023, including IFRS 17 on insurance contracts[14]. - IFRS 17 introduces a consistent accounting treatment for insurance contracts, replacing IFRS 4, which allowed diverse accounting practices[15]. - The group assessed the impact of IFRS 17 and concluded that it does not affect the annual consolidated financial statements[15]. - The revisions to IFRS 1 and IFRS 8 provide further guidance on the distinction between changes in accounting policies and changes in accounting estimates, with no significant impact on the consolidated financial statements[17]. Strategic Focus and Market Expansion - The company plans to continue expanding its property management services and exploring new value-added services in the Chinese market[7]. - The company has established operational headquarters in Chengdu and adopted a dual-headquarters operational model in Beijing and Chengdu to enhance market competitiveness[132]. - The company aims to enhance service quality and expand market share in the southwestern region of China[132]. - The company plans to strengthen its market expansion efforts, particularly in the southwestern region, where it established an operational headquarters in Chengdu[152]. Acquisitions and Investments - The group acquired two subsidiaries, Zunyi Jinning Property Management and Chongqing Xinlongxin Property Management, for a total cash consideration of RMB 191.45 million, contributing significantly to revenue growth[114]. - The company acquired a subsidiary for RMB 2,327,000 in 2023, while it sold a subsidiary for RMB 6,506,000[65]. - The group’s net identifiable assets acquired from subsidiaries amounted to RMB 19,285,000, indicating strategic acquisitions during the year[59]. Expenses and Financial Costs - The total administrative expenses for 2023 were RMB 16,273,000, compared to RMB 13,569,000 in 2022, reflecting an increase of 19.9%[65]. - The group reported a total income tax expense of RMB 28,336,000 in 2023, compared to RMB 14,713,000 in 2022, reflecting an increase of approximately 92.5%[48]. - The group’s financial costs, including interest expenses on lease liabilities and bank borrowings, rose to RMB 1,380,000 in 2023 from RMB 465,000 in 2022[44]. Operational Metrics - The total number of managed projects increased to 335, with a total managed construction area of approximately 55.8 million square meters, an increase of about 8.6% from approximately 51.4 million square meters in 2022[141]. - The total managed building area increased by approximately 8.6% from about 51.4 million square meters in 2022 to approximately 55.8 million square meters in 2023, with the number of managed projects rising from 291 to 335[117].

Financial Performance - For the six months ended June 30, 2023, the company achieved revenue of approximately RMB 646.8 million, an increase of about 39.6% compared to the same period in 2022[43]. - Gross profit for the same period was approximately RMB 199.1 million, reflecting a growth of about 32.0% year-on-year[43]. - The net profit after tax was approximately RMB 73.3 million, which is an increase of about 9.1% compared to the previous year[43]. - Earnings per share attributable to shareholders was approximately RMB 0.0968, up from approximately RMB 0.0792 in the same period last year, indicating improved profitability[43]. - Total revenue increased by approximately RMB 183.5 million or 39.6% to approximately RMB 646.8 million for the six months ended June 30, 2023, compared to RMB 463.3 million for the same period in 2022[100]. - Gross profit increased by approximately RMB 48.3 million or 32.0% to approximately RMB 199.1 million, while the overall gross profit margin decreased from about 32.6% to 30.8%[110]. - The net profit attributable to equity shareholders for the six months ended June 30, 2023, was RMB 54,211 thousand, an increase from RMB 44,348 thousand in the prior year, marking a growth of approximately 22.5%[189]. Revenue Breakdown - Property management service revenue for the six months ended June 30, 2023, was approximately RMB 492.6 million, an increase of about RMB 141.9 million or approximately 40.5% compared to RMB 350.7 million in the same period of 2022[88]. - Community value-added service revenue was approximately RMB 114.1 million, an increase of about RMB 41.1 million or approximately 56.2% compared to RMB 73.0 million in the same period of 2022, representing about 17.6% of total revenue[98]. - Non-owner value-added service revenue was approximately RMB 40.1 million, a slight increase of about RMB 0.5 million or approximately 1.4% compared to RMB 39.6 million in the same period of 2022, accounting for about 6.2% of total revenue[75]. Employee and Operational Metrics - The group has approximately 5,110 employees as of June 30, 2023, compared to 4,936 employees a year earlier[30]. - Total employee costs for the six months ended June 30, 2023, amounted to approximately RMB 204.1 million[30]. - The number of property management projects increased from 249 to 329, contributing to higher maintenance and employee costs[131]. Debt and Financial Position - As of June 30, 2023, the group's outstanding bank borrowings amounted to approximately RMB 15.5 million, with fixed annual interest rates ranging from 3.95% to 4.75%[1]. - The group's debt-to-equity ratio maintained a net cash position as of June 30, 2023, and December 31, 2022[10]. - The group has approximately RMB 12.5 million of investment properties pledged as collateral for a loan of RMB 4.5 million[9]. - Cash and cash equivalents decreased from approximately RMB 275.9 million as of December 31, 2022, to approximately RMB 256.6 million as of June 30, 2023, a decrease of approximately RMB 19.3 million[160]. Strategic Initiatives and Future Plans - The company plans to allocate 51.8% of the net proceeds for acquiring other property management companies, which amounts to RMB 34.5 million[20]. - 23.1% of the net proceeds, equivalent to RMB 15.4 million, is designated for investment in advanced technology and smart community projects[20]. - The company plans to continue expanding its market presence by entering new cities such as Suzhou, Jiaxing, Wenchang, and Zhumadian[90]. - The company aims to enhance customer satisfaction and service quality to retain existing clients and gain the trust of more property owners[90]. Governance and Compliance - The company has adopted the corporate governance code and has complied with all applicable provisions as of June 30, 2023[15]. - The management has implemented a prudent treasury policy to ensure liquidity for daily operations and capital expenditures[28]. Market Expansion and Recognition - The group continues to enhance market expansion efforts, acquiring nearly 40 new projects from industry committees or third parties in the first half of the year[46]. - The group ranked 29th in the "2023 China Property Service Top 100 Enterprises," improving from 85th in 2015, and received multiple honors including "Top 2 in Growth Speed of Listed Property Companies" in 2023[58]. - The group operates in 41 cities across 17 provinces and municipalities in China, demonstrating significant geographical expansion[69]. Asset Management and Investments - The total contracted projects reached 361, with a total contracted building area of approximately 63.7 million square meters, an increase of about 18.0% from approximately 54.0 million square meters in the same period of 2022[61]. - The total managed projects numbered 329, with a total managed building area of approximately 55.6 million square meters, up about 29.0% from approximately 43.1 million square meters in the same period of 2022[61]. - The company plans to expand its service offerings, including real estate brokerage and home renovation services, to provide a one-stop asset management solution for property owners[123].

Financial Performance - Total revenue increased by 39.6% to approximately RMB 646.8 million for the six months ended June 30, 2023, compared to approximately RMB 463.3 million for the same period in 2022[2]. - Gross profit rose by 32.0% to approximately RMB 199.1 million, while the gross margin decreased from 32.6% to 30.8%[2]. - Net profit after tax increased by approximately RMB 6.1 million or 9.1% to approximately RMB 73.3 million, with a net profit margin declining from about 14.5% to 11.3%[2]. - Earnings per share attributable to equity shareholders rose from approximately RMB 7.92 to RMB 9.68[4]. - For the six months ended June 30, 2023, the group reported a profit attributable to equity shareholders of approximately RMB 54.2 million, an increase of about RMB 9.9 million or approximately 22.3% compared to RMB 44.3 million for the same period in 2022[102]. - The net profit after tax for the six months ended June 30, 2023, was approximately RMB 73.3 million, reflecting an increase of about 9.1% compared to the same period in 2022[121]. Revenue Breakdown - Property management services revenue rose by approximately RMB 141.9 million or 40.5%, while community value-added services increased by approximately RMB 41.1 million or 56.2%[82]. - Property management service revenue reached RMB 492.6 million, accounting for 76.2% of total revenue, with a year-on-year increase of 40.5%[139]. - Community value-added services revenue increased to approximately RMB 114.1 million for the six months ended June 30, 2023, up by approximately RMB 41.1 million or about 56.2% from approximately RMB 73.0 million for the same period in 2022[100]. - The group's community value-added services revenue increased to approximately RMB 114.1 million for the six months ended June 30, 2023, up by approximately RMB 41.1 million or about 56.2% from approximately RMB 73.0 million for the same period in 2022[156]. Asset and Liability Management - As of June 30, 2023, the total assets amounted to RMB 974,360 thousand, an increase from RMB 928,537 thousand as of December 31, 2022, representing a growth of approximately 4.9%[44]. - Current liabilities slightly decreased from RMB 867,682 thousand to RMB 864,698 thousand, indicating a reduction of approximately 0.3%[44]. - The total equity attributable to equity shareholders increased to RMB 668,580,000 as of June 30, 2023, from RMB 614,659,000 as of December 31, 2022[32]. - The company had restricted cash of RMB 6,794,000 frozen by a Chinese court, which was released as of June 30, 2023[28]. Trade Receivables and Payables - The aging analysis of trade receivables (net of expected credit loss provisions) as of June 30, 2023, shows a total of RMB 489,617,000, an increase from RMB 421,104,000 as of December 31, 2022[23]. - Trade payables to third parties as of June 30, 2023, were RMB 122,910,000, slightly decreased from RMB 123,448,000 as of December 31, 2022[26]. - The expected credit loss provision for trade receivables was RMB 23,024,000 for the period ending June 30, 2023, down from RMB 48,243,000 as of December 31, 2022[23]. Operational Expansion - The number of properties managed increased from 249 to 329, with total managed area growing by approximately 29.0% to about 55.6 million square meters[82]. - The total contracted construction area increased by approximately 18.0% to about 63.7 million square meters, while total managed construction area grew by approximately 29.0% to about 55.6 million square meters[2]. - The group operates 329 property management projects across 41 cities in 17 provinces and municipalities[111]. - The company successfully expanded its market presence by entering new cities, including Suzhou, Jiaxing, Wenchang, and Zhumadian, enhancing its business footprint[149]. Cost Management - Sales costs rose by approximately RMB 135.4 million or about 43.3%, from approximately RMB 312.4 million for the six months ended June 30, 2022, to approximately RMB 447.8 million for the six months ended June 30, 2023[189]. - Administrative expenses increased by approximately RMB 26.5 million or about 39.9%, from approximately RMB 66.4 million for the six months ended June 30, 2022, to approximately RMB 92.9 million for the six months ended June 30, 2023[195]. Strategic Initiatives - The group has established a three-year development plan from 2023 to 2025, focusing on high-quality development in property services[111]. - The company aims to enhance owner satisfaction and brand influence through quality control management strategies and standardized systems[185]. - The company continues to leverage technology to enhance service quality and operational efficiency, utilizing digital tools and IoT platforms[148].

Energy Consumption and Efficiency - Total energy consumption in 2022 was 74,348.71 thousand kWh, an increase from 56,605.30 thousand kWh in 2021[6] - Energy consumption intensity decreased to 2,769.02 thousand kWh per million square meters in 2022 from 2,841.10 thousand kWh per million square meters in 2021[6] - The company implemented energy-saving measures, including zoning control for public lighting systems and purchasing energy-efficient equipment[75] - The company has implemented measures to reduce greenhouse gas emissions, including regional control of public lighting systems and promoting energy-saving awareness among employees[86] - Energy-saving measures include encouraging employees to turn off lights, air conditioning, and office equipment when not in use, and reducing unnecessary lighting in office areas[86] Property Management Services - Property management service revenue in the Southwest region increased to RMB 388,502 thousand in 2022, accounting for 49.8% of total revenue, up from 34.2% in 2021[23] - The company acquired 100% equity of Chongqing Xinlongxin Property Management Co., Ltd. in September 2022, strengthening its strategic layout in the Southwest region[16] - The company expanded its management scale by integrating Zunyi Jinning Property Management Co., Ltd. in April 2022, establishing a leading brand in the Guizhou region[16] - The company's property management service revenue in the Northeast region increased to RMB 42,534 thousand in 2022, accounting for 5.5% of total revenue, up from 6.1% in 2021[23] - The company's total property management service revenue increased to RMB 779,422 thousand in 2022 from RMB 528,510 thousand in 2021[23] - The company expanded its property management services to 39 cities in China as of December 31, 2022[24] - Total contracted projects reached 326, with a contracted gross floor area of approximately 62.4 million square meters, a significant increase from 46.1 million square meters in 2021[30] - Total managed projects stood at 291, with a managed gross floor area of approximately 51.4 million square meters, up from 34.0 million square meters in 2021[30] - Property management service revenue reached RMB 779.422 million in 2022, with 74.8% coming from other property developers and 25.2% from Hehong Real Estate Group[47] - The total managed building area expanded by 51.2% to 51.4 million square meters in 2022, up from 34.0 million square meters in 2021[130] - The number of property management projects increased from 195 in 2021 to 291 in 2022[130] - Gross profit from property management services increased by RMB 34.9 million or 22.8% from RMB 152.8 million in 2021 to RMB 187.7 million in 2022, driven by an increase in the number of property management projects, though the gross profit margin decreased from 28.9% to 24.1% due to higher wages and lower margins from newly acquired subsidiaries[137] - Gross profit from property management services increased by RMB 34.9 million or 22.8% to RMB 187.7 million, with a gross margin of 24.1%[191] Environmental Management and Sustainability - The company identified climate-related risks, including physical risks from extreme weather events, and implemented measures such as regular inspections and emergency response plans[4] - The company achieved ISO 14001:2015 environmental management system certification and implemented comprehensive environmental management systems[9] - The company's non-hazardous waste intensity decreased to 3.60 tons per million square meters in 2022, down from 2.42 tons per million square meters in 2021[40] - The company planted over 1,000,000 square meters of greenery in 2022, including more than 1,400,000 plants[69] - The company identified 21 environmental, social, and governance (ESG) issues relevant to its operations and stakeholders[61] - The company's total hazardous waste decreased to 0.50 tons in 2022, down from 1.40 tons in 2021[40] - Waste management initiatives include classified collection of waste such as old computers, monitors, and ink cartridges, and centralized recycling of office waste[86] - Water-saving measures include the adoption of drip irrigation systems in property management projects and promoting water conservation awareness in office areas[86] - The company has set internal policies to select suppliers who prioritize low-carbon building materials and encourages projects to adopt energy-saving measures such as using LED lights and energy-efficient equipment[95] Financial Performance - Total revenue increased by 35.8% to RMB 1,041.2 million in 2022, compared to RMB 766.8 million in 2021[129] - Property management service revenue grew by 47.5% to RMB 779.4 million in 2022, driven by natural growth and acquisitions[130] - Community value-added service revenue increased by 27.7% to RMB 176.4 million in 2022, with home services contributing RMB 85.8 million[131] - Non-owner value-added service revenue decreased by 14.8% to RMB 85.4 million in 2022[129] - Sales costs increased by RMB 243.3 million or 48.4% from RMB 502.6 million in 2021 to RMB 745.9 million in 2022, driven by higher employee costs, increased maintenance expenses, and utility costs due to business expansion and the acquisition of subsidiaries[133] - Total revenue increased by RMB 274.4 million or 35.8% from RMB 766.8 million in 2021 to RMB 1,041.2 million in 2022, primarily due to the acquisition of two major subsidiaries contributing RMB 131.6 million and increased revenue from community value-added services[147] - Gross profit from community value-added services increased by RMB 7.1 million or 9.7% from RMB 72.6 million in 2021 to RMB 79.7 million in 2022, though the gross profit margin decreased from 52.6% to 45.2% due to lower margins from newly acquired subsidiaries[156] - Income tax expenses decreased by RMB 15.6 million or 51.5% from RMB 30.3 million in 2021 to RMB 14.7 million in 2022, mainly due to tax-exempt income and the utilization of previously unrecognized tax losses[158] - Net profit decreased by RMB 5.0 million or 4.6% from RMB 108.6 million in 2021 to RMB 103.6 million in 2022, primarily due to an increase in expected credit loss provisions for trade and other receivables, offset by profit growth from business expansion and newly acquired subsidiaries[158] - Intangible assets increased from RMB 85.2 million in 2021 to RMB 127.5 million in 2022, mainly due to the acquisition of two subsidiaries adding RMB 54.8 million in intangible assets and the addition of computer software worth RMB 1.2 million, partially offset by amortization and depreciation of RMB 13.6 million[162] - Goodwill increased from RMB 292.7 million as of December 31, 2021, to RMB 481.5 million as of December 31, 2022, due to the acquisitions of Zunyi Jinning and Chongqing Xinlongxin[163] - Investment properties increased from RMB 28.8 million in 2021 to RMB 40.5 million in 2022, primarily due to the acquisition of subsidiaries worth RMB 12.8 million, offset by depreciation of RMB 1.1 million[168] - Trade receivables increased from RMB 217.4 million as of December 31, 2021, to RMB 421.1 million as of December 31, 2022, driven by RMB 129.3 million from newly acquired subsidiaries and natural growth from business expansion[171] - Contract liabilities increased from RMB 182.7 million as of December 31, 2021, to RMB 295.7 million as of December 31, 2022, due to increased property management projects and RMB 76.5 million from newly acquired subsidiaries[172] - Gross profit increased by RMB 31.1 million (11.8%) from RMB 264.2 million in 2021 to RMB 295.3 million in 2022, while the gross profit margin decreased from 34.5% to 28.4% due to higher employee costs and lower margins from newly acquired subsidiaries[178] - Non-property owner value-added services gross profit decreased by RMB 10.9 million (28.0%) from RMB 38.8 million in 2021 to RMB 27.9 million in 2022, with the gross margin dropping from 38.7% to 32.7% due to increased material costs and reduced revenue[180] - Administrative expenses increased by RMB 11.3 million (8.4%) from RMB 134.5 million in 2021 to RMB 145.8 million in 2022, driven by higher employee costs, expenses from newly acquired subsidiaries, and increased amortization and depreciation[181] - Trade and other receivables' expected credit loss provision increased by approximately RMB 41.2 million or 710.3% from RMB 5.8 million in 2021 to RMB 47.0 million in 2022, driven by increased trade receivables and adjustments based on historical credit loss experience and macroeconomic factors[182] - Trade payables increased from RMB 53.5 million in 2021 to RMB 123.4 million in 2022, primarily due to business expansion and the inclusion of RMB 51.3 million from newly acquired subsidiaries[185] - Other payables increased from RMB 279.1 million in 2021 to RMB 430.6 million in 2022, mainly due to increased accrued expenses from property management projects and higher employee costs[185] - Bank balances and cash decreased by RMB 115.3 million from RMB 391.2 million in 2021 to RMB 275.9 million in 2022, primarily due to cash outflows for subsidiary acquisitions and deposits paid for property management contracts[186] - Net current assets decreased from RMB 125.1 million in 2021 to RMB 60.9 million in 2022, with the current ratio dropping from 1.22x to 1.07x due to increased goodwill and intangible assets from acquisitions[186] - Community value-added services (including rental income) generated a gross profit of RMB 79.7 million, with a gross margin of 45.2%[191] - Non-owner value-added services saw a decrease in gross profit by RMB 10.9 million or 28.0% to RMB 27.9 million, with a gross margin of 32.7%[191] - Total gross profit increased by RMB 31.1 million or 11.8% to RMB 295.3 million, with an overall gross margin of 28.4%[191] - Net proceeds from the IPO were allocated as follows: 51.8% for acquiring other property management companies, 23.1% for investing in advanced technology and smart communities, and 14.4% for expanding value-added services[199] Employee Management and Workplace Safety - The company employs a total of 5,146 full-time employees as of December 31, 2022[99] - Employee turnover rates by region: North China (20.00%), Southwest China (28.97%), East China (19.67%), South China (34.65%), Northeast China (29.26%)[105] - Employee turnover rates by age group: under 30 (48.15%), 31-40 (23.47%), 41-50 (19.15%)[105] - The company has a labor protection management system and promotes diversity and equality, with a zero-tolerance policy for workplace discrimination[100] - The company recruits talent through various channels including online recruitment, media recruitment, internal employee competitions, job fairs, and campus recruitment[100] - The company recorded 17 minor workplace injury incidents during the reporting period[127] - The company has obtained ISO45001:2018 certification for occupational health and safety management[112] - The company provides comprehensive employee benefits, including health checks, insurance, and housing provident fund contributions[108] Community Value-Added Services - The company's community value-added services include home life services, real estate brokerage, and community group buying, enhancing customer experience and loyalty[19] - The company focuses on expanding community value-added services, including home services, parking space leasing, and public facility leasing[131] - Revenue from non-property owner value-added services decreased by RMB 14.8 million or 14.8% from RMB 100.2 million in 2021 to RMB 85.4 million in 2022, primarily due to reduced income from property management support services provided to Hehong Real Estate Group and other property developers[132] Corporate Governance and Strategic Initiatives - The company ranked 32nd in the 2022 China Index Academy's Top 100 Property Service Enterprises, up 6 places from 2021[30] - The company raised approximately HKD 100.9 million (equivalent to RMB 91.9 million) from the first share placement in 2020, with 95.4% (RMB 87.7 million) used for acquiring property management companies and 4.6% (RMB 4.2 million) for general working capital[164]

Financial Performance - The group's total revenue increased by 35.8% from approximately RMB 766.8 million for the year ended December 31, 2021, to approximately RMB 1,041.2 million for the year ended December 31, 2022[2]. - Gross profit rose by 11.8% from approximately RMB 264.2 million in 2021 to approximately RMB 295.3 million in 2022, with a gross profit margin decreasing from 34.5% to 28.4%[2]. - Profit attributable to equity shareholders decreased by approximately RMB 5.0 million or 4.6% to approximately RMB 103.6 million for the year ended December 31, 2022, resulting in a net profit margin decline from 14.2% to 10.0%[2]. - Earnings per share attributable to equity shareholders was RMB 12.27 for the year ended December 31, 2022, down from RMB 15.60 in 2021[2]. - Total comprehensive income for the year was RMB 125.7 million, compared to RMB 107.7 million in the previous year[4]. Asset and Equity Changes - Non-current assets increased from RMB 488.4 million in 2021 to RMB 704.7 million in 2022, driven by increases in intangible assets and goodwill[5]. - Current assets rose from RMB 685.9 million in 2021 to RMB 928.5 million in 2022, with trade and other receivables significantly increasing from RMB 284.2 million to RMB 643.7 million[5]. - Total equity increased from RMB 588.0 million in 2021 to RMB 711.5 million in 2022, reflecting a strong capital position[11]. Revenue Sources - The group's revenue from property management services in 2022 was RMB 779,422,000, an increase of 47.4% from RMB 528,510,000 in 2021[23]. - Community value-added services generated revenue of RMB 172,569,000 in 2022, up 26.7% from RMB 136,220,000 in 2021[23]. - Total rental income for 2022 was RMB 1,037,383,000, compared to RMB 764,923,000 in 2021, reflecting a growth of 35.6%[23]. Liabilities and Provisions - Contract liabilities increased to RMB 295,689,000 in 2022 from RMB 182,714,000 in 2021, indicating business growth and higher advance payments from owners[26]. - The provision for expected credit losses on trade receivables rose to RMB 67,766,000 in 2022 from RMB 19,523,000 in 2021, an increase of 246.5%[56]. - The total liabilities, including trade and other payables, rose to RMB 430,640,000 in 2022 compared to RMB 279,134,000 in 2021, indicating a growth of 54.3%[79]. Acquisitions and Growth Strategy - The company acquired two subsidiaries from independent third parties during the year ended December 31, 2022, with cash consideration of RMB 191,450,000[92][100]. - The company aims to expand its property management services through these acquisitions, enhancing synergy with existing operations[104]. - The company has identified a strategic focus on understanding the operational logic of the property management market to leverage its strengths for future growth[115]. Market Position and Future Outlook - The company ranked 32nd in the China Index Research Institute's Top 100 Property Service Enterprises in 2022, improving by 6 positions from 2021[129]. - The company anticipates that the economic recovery will continue to gain momentum in the post-pandemic era, with a high probability of economic growth[114]. - The company plans to continue its three-year development strategy, emphasizing key indicators such as scale, revenue, and profit[118]. Operational Metrics - As of December 31, 2022, the company provided property management services in 39 cities across China, with a total of 326 contracted projects covering approximately 62.4 million square meters[129]. - The total managed projects amounted to 291, with a total managed building area of approximately 51.4 million square meters, showing significant growth compared to 34.0 million square meters in 2021[129]. - The number of property management projects increased from 195 in 2021 to 291 in 2022, contributing to revenue growth[180].