Financial Performance - For the six months ended June 30, 2022, the group achieved revenue of approximately RMB 463.3 million, an increase of about 50.5% compared to the same period in 2021[9]. - The group's net profit after tax for the six months was approximately RMB 67.2 million, representing an increase of about 54.0% compared to the same period in 2021[12]. - Earnings per share attributable to shareholders was approximately RMB 7.92, compared to RMB 6.44 in the same period of 2021[12]. - The gross profit for the same period was approximately RMB 150.8 million, reflecting a year-on-year increase of about 36.5%, with a gross margin of approximately 32.6%, down by about 3.3 percentage points[21]. - Total revenue increased by approximately RMB 155.4 million or about 50.5% from RMB 307.9 million for the six months ended June 30, 2021, to RMB 463.3 million for the six months ended June 30, 2022[48]. - The total comprehensive income for the period was RMB 68,306 thousand, compared to RMB 44,038 thousand in the previous year, marking a growth of approximately 55.2%[120]. - The company recorded a profit of RMB 44,348 thousand for the six months ended June 30, 2022, compared to RMB 35,094 thousand for the same period in 2021, marking a growth of 26.4%[132]. Revenue Breakdown - Property management service revenue was approximately RMB 350.7 million, reflecting a year-on-year increase of about 50.2%[9]. - Community value-added service revenue reached approximately RMB 73.0 million, a significant increase of about 102.5% year-on-year[9]. - Revenue from property management services reached RMB 350.656 million, up from RMB 233.481 million in the same period last year, representing a growth of 50.1%[155]. - Community value-added services generated revenue of RMB 72.644 million, an increase of 104.4% compared to RMB 35.639 million in the previous year[155]. - Non-owner value-added services revenue was approximately RMB 39.6 million, an increase of about RMB 1.3 million or 3.3% from RMB 38.3 million in the same period of 2021, accounting for 8.5% of total revenue[42]. Operational Metrics - The total contracted building area managed by the group reached approximately 54.0 million square meters, an increase of about 53.4% from approximately 35.2 million square meters in 2021[14]. - The total area under management was approximately 43.1 million square meters, up about 59.0% from approximately 27.1 million square meters in 2021[14]. - The group managed 249 property management projects across 37 cities in China, with a total contracted building area of approximately 54.0 million square meters, an increase of about 53.4% year-on-year[21]. - Residential properties accounted for 91.9% of the total property management service revenue, generating RMB 322.17 million, while non-residential properties contributed 8.1% with RMB 28.48 million[36]. Strategic Initiatives - The group continues to enhance service quality through a refined operational management model, focusing on customer satisfaction and service differentiation[13]. - The group has implemented intelligent management tools to achieve transparent management and real-time data analysis, mitigating operational risks[13]. - The company is committed to expanding its presence across 37 cities in 16 provinces and municipalities[14]. - The group plans to implement low-carbon operations and develop low-carbon community construction solutions, aligning with China's 2030 carbon peak action plan[43]. - The company aims to enhance operational efficiency through the development of smart property management systems, integrating technology into various service scenarios[44]. - A talent development program is being established to enhance core competitiveness, focusing on training at all levels and creating an internal talent pool[47]. Financial Position - As of June 30, 2022, total assets amounted to RMB 798,870 thousand, an increase of 16.5% from RMB 685,862 thousand as of December 31, 2021[124]. - The company’s net equity attributable to shareholders increased to RMB 569,261 thousand from RMB 523,786 thousand, representing a growth of 8.7%[128]. - The total liabilities increased to RMB 612,138 thousand from RMB 560,721 thousand, reflecting a rise of 9.2%[124]. - The company maintained a net cash position with a debt-to-equity ratio of zero as of June 30, 2022[91]. - As of June 30, 2022, the group's cash and bank balances decreased by approximately RMB 156.6 million to approximately RMB 234.6 million[82]. Acquisitions and Investments - The group completed the acquisition of 68.75% equity in Zunyi Jinning for a total consideration of RMB 91.45 million on April 10, 2022[94]. - The financial impact of acquisitions made in the second half of 2021 and the first half of 2022 contributed approximately RMB 110.0 million to total revenue[48]. - Approximately RMB 62.7 million, or 94.1% of the net proceeds from the IPO, has been utilized as of June 30, 2022[103]. - The group plans to use the remaining proceeds for advanced technology investments and community smart services, with RMB 3.7 million expected to be utilized by December 31, 2022[104]. Governance and Compliance - The group has adopted the corporate governance code and complied with all applicable provisions as of June 30, 2022[98]. - There were no significant post-reporting date events from June 30, 2022, to the report date[97]. - The company did not grant or agree to grant any share options as of June 30, 2022[118]. - The company did not purchase, sell, or redeem any of its listed securities during the reporting period[108].

Financial Performance - The company achieved a revenue of approximately RMB 766.8 million for the year ended December 31, 2021, representing an increase of about 84.4% compared to the same period in 2020[10]. - The company reported a net profit of approximately RMB 108.6 million, which is an increase of about 81.0% compared to 2020[10]. - Gross profit for the year was approximately RMB 264.2 million, an increase of about 77.4% compared to the previous year[10]. - The earnings per share for shareholders was approximately RMB 15.60, up from RMB 12.76 in 2020[10]. - Net profit after tax for 2021 was approximately RMB 108.6 million, an increase of about 48.6 million or 81.0% compared to approximately RMB 60.0 million in 2020[28]. - The company's total revenue increased by approximately RMB 350.9 million or 84.4% to about RMB 766.8 million in 2021 from approximately RMB 415.9 million in 2020[25]. - The gross profit rose by approximately RMB 115.3 million or 77.4% to about RMB 264.2 million in 2021, with a slight decrease in gross margin from 35.8% in 2020 to 34.5% in 2021[25]. - The net profit for the year increased by approximately RMB 48.6 million or 81.1% to approximately RMB 108.6 million in 2021, driven by business expansion and contributions from newly acquired subsidiaries[81]. Revenue Breakdown - Property management service revenue was approximately RMB 528.5 million, an increase of about 103.8% year-on-year[10]. - Community value-added service revenue grew by approximately RMB 61.0 million or 79.2% to about RMB 138.1 million in 2021, up from approximately RMB 77.1 million in 2020[25]. - Residential properties accounted for 90.0% of the total property management service revenue in 2021, generating RMB 475.58 million, compared to RMB 225.99 million in 2020, which was 87.1% of the total[47]. - Non-owner value-added services revenue was approximately RMB 100.2 million, up by about RMB 20.7 million or 26.1% from RMB 79.5 million in 2020, due to increased demand from property developers[51]. Market Expansion - The total contracted building area managed by the company reached approximately 46.1 million square meters, a growth of about 104.9% from approximately 22.5 million square meters in 2020[13]. - The company has expanded its market presence in 35 cities across 16 provinces and municipalities[13]. - Following the acquisition of Zunyi Jin Ning Property Management Co., Ltd. (68.75% stake), the total contracted building area is expected to reach approximately 53.7 million square meters[14]. - The company completed several significant acquisitions in 2021, including a 51% stake in Zhongshan Zhongzheng for RMB 15.4 million and a 70% stake in Guiyang Xinglong for RMB 156.8 million[36]. Employee and Training Development - As of December 31, 2021, the group had approximately 4,957 employees, a significant increase from 2,154 employees as of December 31, 2020[111]. - Total employee costs for the year ended December 31, 2021, amounted to approximately RMB 277.2 million, compared to RMB 116.5 million in 2020, reflecting a year-over-year increase of 138.5%[111]. - The group implements a comprehensive internal employee training program to enhance technical and service skills, ensuring adherence to industry quality standards[111]. - The company has developed 23 specialized training courses and organized 32 on-site training sessions to promote quality improvement experiences across regions[16]. Corporate Governance - The company has maintained high corporate governance standards, adhering to the Corporate Governance Code as of December 31, 2021[138]. - The board is committed to enhancing shareholder value and improving transparency and accountability[138]. - The company has a strong management team with extensive experience in finance and corporate governance[126][130]. - The company has a diverse board with independent non-executive directors contributing to oversight and independent judgment[126][130]. - The company emphasizes the importance of corporate governance in formulating business strategies and policies[138]. Financial Management and Strategy - The company has adopted a prudent financial management policy to ensure liquidity for daily operations and capital expenditures[108]. - The company plans to use 51.8% of the net proceeds for acquiring other property management companies, with 34.5 million RMB already utilized[97]. - The company aims to leverage economies of scale to maintain high-speed development and operational efficiency[54]. - The management team is focused on strategic planning, business development, and financial management to drive overall growth[115]. Risk Management - The company has established procedures to safeguard assets and ensure reliable financial reporting[200]. - The board is committed to risk management and internal control systems to mitigate business risks[200]. - The company has a structured approach to risk management and internal controls to safeguard shareholder interests[138].

Financial Performance - As of June 30, 2021, the company achieved a revenue of approximately RMB 307.9 million, representing a year-on-year growth of about 91.9%[13] - The gross profit was approximately RMB 110.5 million, with a year-on-year increase of about 102.1%, resulting in a gross margin of approximately 35.9%, up by about 1.8 percentage points compared to the previous year[13] - The net profit after tax for the six months ended June 30, 2021, was approximately RMB 43.6 million, a growth of about 100.9% compared to RMB 21.7 million in the same period of 2020[13] - The group's total revenue increased by approximately RMB 147.5 million or about 91.9% to approximately RMB 307.9 million for the six months ended June 30, 2021, compared to approximately RMB 160.4 million for the same period in 2020[37] - The gross profit for the same period was RMB 110,531 thousand, compared to RMB 54,686 thousand in 2020, reflecting a growth of 102.5%[108] - The net profit for the period was RMB 43,633 thousand, up from RMB 21,724 thousand in the previous year, indicating an increase of 100.0%[108] - The total comprehensive income for the period was RMB 44,038 thousand, compared to RMB 21,724 thousand in 2020, marking a growth of 102.0%[108] Market Expansion - The total contracted area managed reached approximately 35.2 million square meters, an increase of 141.1% from approximately 14.6 million square meters in the same period of 2020[13] - The total area under management was approximately 27.1 million square meters, up about 131.6% from approximately 11.7 million square meters in the same period of 2020[13] - The company expanded its market presence significantly, with the area managed from other property developers (including newly acquired entities) increasing to approximately 19.7 million square meters, a growth of about 337.8% from approximately 4.5 million square meters as of June 30, 2020[13] - The group expanded its market presence by acquiring four major subsidiaries, enhancing its market scale and expected to generate high and sustainable revenue in the future[18] - The group aims to enhance service quality through systematic market expansion and effective management, ensuring strong profitability and risk mitigation[23] Acquisitions and Subsidiaries - The group successfully acquired three subsidiaries in the second half of 2020, contributing substantial revenue and profit to the group[17] - The group acquired 70% equity of Guiyang Xinglong for RMB 156.8 million, enhancing its management scale in the Southwest region with a total contracted area of no less than 10.1 million square meters[33] - The company completed the acquisition of Zhongshan Zhongzheng Property Management Co., Beijing Hongteng Real Estate Investment Consulting Co., and Sichuan Wansheng Property Service Co., with capital commitments of RMB 7,700,000, RMB 100,000, and RMB 42,900,000 respectively[193] - The company expects the acquisitions to enhance its property management service portfolio and generate synergies with existing operations[195] Revenue Breakdown - The group's property management service revenue for the first half of 2021 was RMB 233.481 million, a significant increase from RMB 120.673 million in the same period of 2020, representing a growth of approximately 93.5%[18] - Community value-added service revenue reached approximately RMB 36.0 million, an increase of about RMB 11.8 million or approximately 48.7% compared to RMB 24.2 million in the same period of 2020[26] - Non-owner value-added service revenue was approximately RMB 38.3 million, up by about RMB 22.8 million or approximately 147.3% from RMB 15.5 million in the same period of 2020[27] - The North China region accounted for 34.1% of the total property management service revenue, with RMB 79.571 million generated from 5,642 thousand square meters managed area[18] - The group achieved a significant increase in revenue from other property developers, which accounted for 52.5% of total revenue, amounting to RMB 122.488 million[23] Profitability and Costs - Total sales costs increased by approximately RMB 91.6 million or 86.7% to approximately RMB 197.3 million for the six months ended June 30, 2021, compared to approximately RMB 105.7 million for the same period in 2020[48] - Overall gross profit increased by approximately RMB 55.8 million or 102.1% to approximately RMB 110.5 million for the six months ended June 30, 2021, compared to approximately RMB 54.7 million for the same period in 2020[52] - Gross profit from property management services increased by approximately RMB 40.5 million or 104.5% to approximately RMB 79.2 million for the six months ended June 30, 2021[55] - Gross profit from community value-added services rose by approximately RMB 6.0 million or 44.5% to approximately RMB 19.5 million for the six months ended June 30, 2021[56] - Gross profit from non-owner value-added services surged by approximately RMB 9.4 million or 385.6% to approximately RMB 11.8 million for the six months ended June 30, 2021[57] Assets and Liabilities - The company's total assets as of June 30, 2021, were RMB 609,551 thousand, an increase from RMB 470,675 thousand as of December 31, 2020, representing a growth of 29.5%[112] - The company's cash and cash equivalents increased to RMB 365,645 thousand from RMB 291,507 thousand, reflecting a growth of 25.4%[112] - The company's equity attributable to shareholders increased to RMB 474,073 thousand from RMB 307,170 thousand, representing a growth of 54.3%[115] - Trade receivables increased from approximately RMB 104.3 million as of December 31, 2020, to approximately RMB 153.5 million as of June 30, 2021, mainly due to the inclusion of trade receivables from newly acquired subsidiaries[68] - Total liabilities, including trade and other payables, amounted to RMB 225,671,000 as of June 30, 2021, up from RMB 178,070,000 as of December 31, 2020, reflecting an increase of 27%[176] Corporate Governance - The company has a commitment to high standards of corporate governance, having adhered to all applicable corporate governance codes as of June 30, 2021[81] - The audit committee consists of three independent non-executive directors, providing independent opinions on financial reporting and risk management[86] - The company has confirmed compliance with the standards for directors' securities transactions as of June 30, 2021[82] - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period[92] Future Plans - The company plans to use 51.8% of the net proceeds for acquiring other property management companies by December 31, 2022[88] - The company has allocated 23.1% of the net proceeds for investment in advanced technology and smart community initiatives, expected to be utilized by December 31, 2022[88] - The company plans to continue expanding its market presence and enhancing its service offerings in the property management sector[130]

Financial Performance - For the year ended December 31, 2020, Hevol Services Group achieved revenue of RMB 415.9 million, an increase of 67.5% compared to the same period in 2019[10]. - Gross profit for 2020 was RMB 148.9 million, reflecting a 77.0% increase year-over-year[10]. - Net profit reached RMB 60.0 million, a significant increase of 334.8% compared to 2019[10]. - The company's earnings per share for 2020 was RMB 12.76, up from RMB 3.97 in 2019[10]. - The group's total revenue increased by approximately RMB 167.6 million or 67.5% to about RMB 415.9 million in 2020 from RMB 248.3 million in 2019[23]. - Property management service revenue rose by approximately RMB 90.9 million or 54.0% to about RMB 259.3 million in 2020 from RMB 168.4 million in 2019[23]. - Non-owner value-added service revenue surged by approximately RMB 53.7 million or 208.2% to about RMB 79.5 million in 2020 from RMB 25.8 million in 2019[23]. - The net profit for 2020 was approximately RMB 60.0 million, an increase of about RMB 46.2 million or 334.8% compared to RMB 13.8 million in 2019[25]. - The earnings per share for the year was RMB 12.76, up from RMB 3.97 in 2019, representing a growth of 221.4%[26]. Growth and Expansion - The total contracted management area increased to 33.4 million square meters, a growth of approximately 307.3% from the beginning of 2020[12]. - The number of property management projects rose from 36 at the beginning of the year to 121 by December 31, 2020[12]. - The company completed acquisitions of equity in 5 property enterprises, adding 8.0 million square meters to its contracted management area[12]. - The proportion of contracted building area from third-party real estate developers increased to 57.5% by the end of 2020[12]. - The total managed building area reached approximately 17.9 million square meters in 2020, up from approximately 8.2 million square meters in 2019[32]. - The group managed 121 property management projects across 23 cities in China as of December 31, 2020[31]. - The group aims to enhance market share and brand influence through strategic acquisitions in key regions such as the Yangtze River Delta and Greater Bay Area[34]. - The company plans to increase its managed area from approximately 17.9 million square meters as of December 31, 2020, to approximately 25.3 million square meters through acquisitions completed by March 2021[54]. Service Quality and Operational Efficiency - The group aims to optimize and expand its value-added service system, focusing on property management adjustments and enhancing community retail services[17]. - The group has established a three-level quality inspection supervision system to further enhance service quality and customer satisfaction[18]. - The group is leveraging technology to improve operational efficiency and reduce costs through the development of a smart management platform[18]. - The company is committed to improving operational efficiency and cost control through standardized and intelligent management processes[53]. - Community value-added services contributed to enhancing customer satisfaction and loyalty, with a focus on home services, parking space leasing, and public facility rentals[48]. Financial Management and Position - As of December 31, 2020, the group had no interest-bearing borrowings, maintaining a healthy financial position[106]. - The group has adopted a prudent financial management policy to ensure liquidity for daily operations and capital expenditures[108]. - The group plans to use the proceeds for potential future acquisitions and general working capital[99]. - The net current assets increased from approximately RMB 103.3 million to about RMB 197.2 million as of December 31, 2020[93]. - The group's current ratio was approximately 1.72 times as of December 31, 2020, compared to 1.76 times as of December 31, 2019[93]. Corporate Governance - The company has a strong management team with diverse backgrounds in finance, law, and management, enhancing its governance structure[135]. - The company emphasizes the importance of independent directors in providing oversight and enhancing corporate governance practices[126][127]. - The board includes members with significant academic and professional qualifications, ensuring informed decision-making[132][134]. - The company maintained high corporate governance standards, adhering to the Corporate Governance Code as of December 31, 2020[142]. - The company has established a governance policy to ensure compliance with laws and regulations[170]. Board Composition and Diversity - The board consists of eight directors, including two executive directors, two non-executive directors, and four independent non-executive directors as of December 31, 2020[147]. - The company emphasizes the importance of diversity in its board appointments, considering factors such as gender, age, ethnicity, language, cultural background, education, and industry experience[197]. - The board diversity policy aims to ensure an appropriate balance of skills, experience, and perspectives among board members to enhance effective functioning and maintain high corporate governance standards[195]. - The company views increasing board diversity as a key factor supporting its strategic goals and sustainable development[198]. Committees and Oversight - The company has established various committees, including the remuneration committee, audit committee, and nomination committee, to enhance corporate governance[178]. - The audit committee reviews the company's financial reports and compliance procedures, ensuring adherence to risk management and internal control systems[180]. - The remuneration committee ensures that no director participates in determining their own remuneration, maintaining a balance of power[187]. - The Nomination Committee is responsible for identifying qualified candidates for the board and making recommendations based on merit and the contributions candidates can bring[196].

Financial Performance - For the six months ended June 30, 2020, the group achieved revenue of RMB 160.4 million, an increase of 32.5% compared to the same period in 2019[11]. - Gross profit for the same period was RMB 54.7 million, reflecting a 43.6% increase year-on-year[11]. - Profit for the period surged by 623.3% to RMB 21.7 million, up from RMB 3.0 million in the prior year[11]. - Total revenue for the six months ended June 30, 2020, was approximately RMB 160.4 million, an increase of RMB 39.4 million or 32.5% from RMB 121.1 million for the same period in 2019[45]. - Property management service revenue accounted for RMB 120.7 million, representing 93.5% of total revenue, with residential properties contributing RMB 112.8 million[34]. - The group reported a profit attributable to equity holders of RMB 21,020,000 for the six months ended June 30, 2020, significantly higher than RMB 3,006,000 for the same period in 2019, marking a growth of 600.5%[181]. - Basic earnings per share increased to RMB 5.21 for the six months ended June 30, 2020, compared to RMB 1.00 for the same period in 2019, reflecting a substantial rise of 421%[181]. Operational Expansion - The total contracted building area reached 14.6 million square meters, a 78.0% increase compared to the same period in 2019[10]. - The number of property management projects increased from 36 at the beginning of the year to 87[10]. - The group expanded its presence from 11 cities to 21 cities during the reporting period[10]. - The proportion of contracted building area from third-party real estate developers increased to 35.3%[10]. - The company is focusing on expanding its management scale, particularly in the Yangtze River Delta, Pearl River Delta, and Central China regions[15]. - The company plans to continue expanding its property management services and related value-added services in the People's Republic of China[134]. Acquisitions and Investments - The group completed the acquisition of 70% equity in Shanghai Tongjin Property Services Co., contributing to the revenue growth[11]. - The company acquired 70% of Shanghai Tongjin Property Service Co., Ltd. for RMB 29.6 million, and 60% of Shanghai Tongjia Property Service Co., Ltd. for RMB 3.8 million, increasing its total property management projects to 61 and total managed area to 9.4 million square meters[26]. - The company has allocated 51.8% of the net proceeds for acquiring other property management companies, with an expected completion date by December 31, 2022[92]. Revenue Streams - Community value-added services generated revenue of approximately RMB 24.2 million, accounting for 15.1% of total revenue for the six months ended June 30, 2020[39]. - Non-owner value-added services revenue increased by RMB 3.9 million or 33.6% to approximately RMB 15.5 million, attributed to more properties reaching the sales stage requiring sales assistance[49]. - The group’s revenue from community value-added services (non-owner value-added services) was RMB 24,247,000 for the six months ended June 30, 2020, down from RMB 26,595,000 in the same period of 2019, a decrease of 8.8%[161]. Cost Management and Efficiency - The company is committed to maintaining operational efficiency and cost control through standardized and intelligent management processes, which will enhance customer satisfaction and loyalty[27]. - Sales costs increased by RMB 22.7 million or 27.3% to approximately RMB 105.7 million, primarily due to higher subcontracting costs and increased employee costs related to business expansion[52]. - Administrative expenses increased by approximately RMB 9.3 million or 50.3% to about RMB 27.8 million for the six months ended June 30, 2020, mainly due to increased employee costs and professional fees related to the company's expansion and acquisition of Shanghai Tongjin[61]. Financial Position - Cash and bank balances increased by approximately RMB 97.6 million to about RMB 297.4 million as of June 30, 2020, mainly due to the issuance of 80 million shares at HKD 1.28 per share[74]. - The current ratio improved to 2.01 times as of June 30, 2020, compared to 1.76 times as of December 31, 2019, indicating a stronger liquidity position[74]. - The company has no borrowings as of June 30, 2020, maintaining a stable financial condition[74]. - Total assets as of June 30, 2020, were RMB 422,245,000, an increase from RMB 238,690,000 as of December 31, 2019[117]. Employee and Operational Metrics - As of June 30, 2020, the group had approximately 1,407 employees, an increase from 996 employees as of December 31, 2019[78]. - Total employee costs for the six months ended June 30, 2020, amounted to approximately RMB 45.2 million[78]. - The number of managed properties increased from 34 to 61, and the managed area grew by 49.2% from approximately 6.3 million square meters to 9.4 million square meters[46]. Future Outlook - The company aims to leverage new technologies such as cloud computing, big data, and IoT to enhance traditional property management services and improve service quality[21]. - The company plans to develop community value-added services, including after-school care and training programs, to meet the growing demand for high-quality property services in the 5G era[19]. - The group plans to deliver more new property management projects in the second half of 2020 compared to the same period in 2019[41].

Financial Performance - For the year ended December 31, 2019, Hevol Services Group reported revenue of RMB 248.3 million, an increase of 10.6% compared to the same period in 2018[8]. - Gross profit for the same period was RMB 84.1 million, reflecting a 4.5% increase year-on-year[8]. - Net profit after tax decreased by 18.3% to RMB 13.8 million, primarily due to one-off listing expenses and increased professional fees post-listing[8]. - Adjusted net profit (excluding listing-related expenses) was RMB 31.5 million, up RMB 2.9 million or 10.1% from 2018[8]. - The group's total revenue increased by 10.6% from approximately RMB 224.5 million in the year ended December 31, 2018, to approximately RMB 248.3 million in the year ended December 31, 2019[15]. - Gross profit rose by 4.5% from approximately RMB 80.5 million in 2018 to approximately RMB 84.1 million in 2019, with a gross margin decrease from 35.9% to 33.9%[15]. - Net profit after tax decreased by 18.3% from approximately RMB 16.9 million in 2018 to approximately RMB 13.8 million in 2019[15]. - Adjusted net profit (excluding listing expenses) increased by 10.2% from approximately RMB 28.6 million in 2018 to approximately RMB 31.5 million in 2019[15]. Property Management and Expansion - The total contracted gross floor area exceeded 8.2 million square meters, with total fee-based managed area at 6.6 million square meters as of December 31, 2019[9]. - The company acquired 70% equity of Shanghai Tongjin Property Services Co., Ltd. for RMB 29.6 million, increasing the total number of property management projects to 70[10]. - The acquisition expanded the company's geographical coverage to 16 cities in China, enhancing its service offerings and market presence[10]. - The company managed 36 property management projects across 11 cities in China, with a total contracted gross floor area exceeding 8.2 million square meters and a total chargeable management area of 6.6 million square meters as of December 31, 2019[20]. - The acquisition of 70% equity in Shanghai Tongjin for RMB 29.6 million increased the total number of property management projects to 70 and expanded the total managed gross floor area to approximately 11.9 million square meters[21]. Revenue Sources and Growth - Property management service revenue rose by RMB 13.1 million, or 8.4%, from approximately RMB 155.3 million in 2018 to about RMB 168.4 million in 2019[48]. - Community value-added services generated revenue of RMB 54.1 million, accounting for 21.8% of total revenue, a slight decrease of 2.1% from the previous year[43]. - Non-owner value-added services revenue surged by 85.9% to RMB 25.8 million, representing 10.4% of total revenue[43]. - Residential properties accounted for 90.8% of property management service revenue, totaling RMB 152.8 million[32]. - The company aims to expand its non-owner value-added services to diversify revenue sources and enhance its understanding of property developers' needs[36]. Cost and Expense Management - Total sales costs rose from approximately RMB 144.0 million in 2018 to about RMB 164.1 million in 2019, an increase of RMB 20.1 million or 14.0%[52]. - Administrative expenses increased from approximately RMB 40.0 million in 2018 to about RMB 52.4 million in 2019, an increase of RMB 12.4 million or 31.0%[64]. - The gross profit margin decreased from approximately 35.9% in 2018 to about 33.9% in 2019[56]. Financial Position and Cash Flow - Cash and bank balances increased from approximately RMB 134.4 million as of December 31, 2018, to approximately RMB 199.8 million as of December 31, 2019, primarily due to improved collection of trade receivables and proceeds from the IPO[76]. - The net proceeds from the IPO amounted to approximately HKD 75.8 million (approximately RMB 66.6 million), with 1.5 million HKD or 2.0% utilized by December 31, 2019[77]. - As of December 31, 2019, the group had no interest-bearing borrowings, maintaining a stable financial position[84]. - The group had no contingent liabilities as of December 31, 2019, indicating a strong risk management profile[85]. Corporate Governance - The company has adopted and complied with the Corporate Governance Code since its listing date on July 12, 2019[120]. - The company has arranged appropriate directors' and senior management liability insurance to cover compensation liabilities arising from corporate activities[124]. - The board includes members with significant experience in legal and financial sectors, contributing to robust decision-making processes[103]. - The company has maintained high corporate governance standards to enhance shareholder interests and corporate value[120]. - The board regularly reviews the contributions of directors in fulfilling their responsibilities[122]. Shareholder Communication and Rights - The company emphasizes effective communication with shareholders to strengthen investor relations and ensure informed investment decisions[196]. - The company provides opportunities for shareholders to communicate directly with directors during the annual general meeting[196]. - The company has established multiple communication channels with shareholders, including annual and interim results, annual reports, and announcements[200]. - Shareholders holding at least 10% of the company's shares have the right to request a special general meeting[198]. - All resolutions presented at the shareholders' meeting must be voted on according to listing rules[200].

Financial Performance - For the six months ended June 30, 2019, the company reported revenue of RMB 121.1 million, an increase of 21.8% compared to the same period in 2018[9]. - Gross profit for the same period was RMB 38.1 million, reflecting a 23.2% increase year-on-year[9]. - Adjusted net profit after tax, excluding listing-related expenses, was RMB 18.4 million, an increase of RMB 8.2 million or 80.7% compared to the previous year[9]. - Total revenue increased by approximately RMB 21.6 million, or about 21.8%, from approximately RMB 99.4 million for the six months ended June 30, 2018, to approximately RMB 121.1 million for the six months ended June 30, 2019[41]. - Property management services revenue rose by approximately RMB 15.7 million, or about 23.4%, from approximately RMB 67.2 million to approximately RMB 82.9 million, accounting for 68.5% of total revenue for the six months ended June 30, 2019[44]. - Community-related services revenue slightly increased by approximately RMB 0.4 million, or about 1.7%, from approximately RMB 26.2 million to approximately RMB 26.6 million, representing 22.0% of total revenue[47]. - Revenue from property developer-related services surged by approximately RMB 5.5 million, or about 89.7%, from approximately RMB 6.1 million to approximately RMB 11.6 million, making up 9.6% of total revenue[49]. - Other income for the six months ended June 30, 2019, was approximately RMB 5.7 million, an increase of about RMB 4.7 million, or 492.1%, compared to approximately RMB 1.0 million for the same period in 2018[58]. - The net profit attributable to equity holders for the six months ended June 30, 2019, was RMB 3,006 thousand, down from RMB 10,193 thousand in 2018, indicating a decline of 70.5%[103]. - Basic and diluted earnings per share were RMB 1.00 for the period, compared to RMB 3.40 in the previous year, showing a decrease of 70.6%[103]. Revenue Breakdown - Revenue from the North China region accounted for 42.5% of total revenue, amounting to RMB 35.2 million[19]. - The Southwest region contributed 36.6% of total revenue, with reported income of RMB 30.3 million[19]. - The South China region generated revenue of RMB 11.1 million, representing 13.4% of total revenue[19]. - Property management service revenue for residential properties reached RMB 76,296 thousand, accounting for 92.1% of total revenue[25]. - Total property management service revenue increased to RMB 82,884 thousand, up from RMB 67,159 thousand in the previous year, representing a growth of 23.5%[25]. - The group’s revenue from value-added services, including community-related services and property developer-related services, totaled RMB 38,179,000 for the six months ended June 30, 2019, compared to RMB 32,259,000 in the same period of 2018, reflecting an increase of 18.5%[172]. Operational Efficiency and Strategy - The company aims to enhance operational efficiency and implement smart management systems to meet rising customer service demands[8]. - The company plans to expand its property management business by acquiring new high-end residential community projects from its parent company, aiming to enhance market influence in existing cities[31]. - The company aims to diversify its non-residential property management portfolio, including offices and retail spaces, to improve operational efficiency[33]. - The company intends to enhance customer experience by upgrading residential community information systems and improving overall management system efficiency[35]. - The company plans to standardize and implement improved standards across all property management projects to enhance operational efficiency and cost control[37]. - The existing intelligent management system includes smart parking and surveillance systems, with plans for further upgrades to reduce service costs and improve service standards[38]. - The company aims to optimize human resource management by providing competitive compensation and enhancing internal promotion opportunities[39]. - The company plans to continue fostering an entrepreneurial work atmosphere to enhance employee responsibility and improve corporate culture[39]. - The company is focused on expanding its business operations and increasing the number of properties under management[50]. Financial Health and Assets - Total assets as of June 30, 2019, were RMB 199,743 thousand, a decrease from RMB 219,557 thousand as of December 31, 2018, representing a decline of 9.0%[107]. - The company's cash and cash equivalents increased to RMB 137,570 thousand from RMB 134,417 thousand, reflecting a growth of 1.6%[107]. - Current liabilities were RMB 175,205 thousand, marginally down from RMB 175,508 thousand, indicating a decrease of 0.2%[107]. - Trade and other receivables decreased by approximately RMB 21.8 million to about RMB 44.4 million as of June 30, 2019, mainly due to repayments from the property developer group[64]. - Trade payables increased by approximately RMB 5.0 million to about RMB 12.7 million as of June 30, 2019, due to increased procurement costs from more property management projects[66]. - Contract liabilities decreased by approximately RMB 14.4 million to about RMB 58.7 million as of June 30, 2019, mainly due to a reduction in advance payments received from customers[67]. - Cash and bank deposits totaled approximately RMB 137.6 million as of June 30, 2019, an increase of about RMB 3.2 million from RMB 134.4 million as of December 31, 2018[68]. - The current ratio was 1.14 times as of June 30, 2019, down from 1.25 times as of December 31, 2018, indicating a decrease in liquidity[68]. Corporate Governance and Compliance - The company has complied with all applicable corporate governance codes since its listing date[78]. - The audit committee consists of three independent non-executive directors who reviewed the unaudited interim results for the six months ended June 30, 2019[82]. - The financial data for the six months ended June 30, 2019, was prepared in accordance with International Financial Reporting Standards, ensuring compliance and transparency in financial reporting[143]. - The company was listed on the Hong Kong Stock Exchange on July 12, 2019, marking a significant milestone in its corporate development[140]. Employee and Training - As of June 30, 2019, the group had approximately 956 employees, a decrease from 1,013 employees as of December 31, 2018[72]. - Total employee costs for the six months ended June 30, 2019, amounted to approximately RMB 36.3 million[72]. - The company has adopted a comprehensive internal employee training program to enhance technical and service skills[72]. Tax and Expenses - Income tax expenses rose by approximately RMB 2.5 million, or 56.2%, to about RMB 6.9 million for the six months ended June 30, 2019, due to increased taxable income[60]. - Administrative expenses increased by approximately RMB 1.2 million, or 7.0%, to RMB 18.5 million for the six months ended June 30, 2019, accounting for 15.3% of total revenue[59]. - Total tax expenses for the six months ended June 30, 2019, amounted to RMB 6,870,000, an increase from RMB 4,397,000 in the same period of 2018, representing a rise of 56.3%[178]. - The group recognized a deferred tax expense of RMB 2,656,000 for the six months ended June 30, 2019, compared to RMB 939,000 in the same period of 2018, indicating an increase of 183.5%[178].