Financial Performance - For the six months ended June 30, 2020, the company achieved revenue of approximately RMB 6,271.3 million, an increase of 78.4% compared to the same period in 2019[10]. - Gross profit for the same period was approximately RMB 2,332.5 million, reflecting a year-on-year growth of 69.3%[10]. - Net profit reached approximately RMB 1,335.2 million, a 61.6% increase from the previous year[10]. - Profit attributable to shareholders rose to approximately RMB 1,314.8 million, marking a growth of 60.9% compared to RMB 816.9 million in 2019[10]. - Basic earnings per share were RMB 0.4826, an increase of 56.3% year-on-year[10]. - The property management service revenue reached approximately RMB 3,999.4 million, representing a year-on-year growth of 57.3%, with a gross margin increase of 2.4 percentage points to about 38.1%[19]. - Community value-added service revenue was approximately RMB 602.6 million, achieving a year-on-year growth of 96.2%, accounting for 9.6% of total revenue, an increase of 0.9 percentage points from the previous year[22]. - The "Move-in Ready" service generated revenue of approximately RMB 123.5 million, with a year-on-year growth of about 213.5%[22]. - Non-owner value-added service revenue was approximately RMB 674.4 million, representing about 10.8% of total revenue[23]. - The total revenue increased by approximately 78.4% to about RMB 6,271.3 million for the six months ended June 30, 2020, compared to RMB 3,515.7 million for the same period in 2019[30]. Operational Highlights - The total contracted management area reached 745.8 million square meters, with an increase of 61.1 million square meters since the end of 2019[10]. - The managed area for fee-based services was 319.5 million square meters, up by 43.4 million square meters from the end of 2019[10]. - The company manages a total of 2,769 properties, providing services to approximately 3.77 million owners and businesses domestically and internationally[19]. - The company has established a comprehensive service covering the entire property management value chain, including property management, community value-added services, non-owner value-added services, and "three supplies and one industry" business[18]. - The company is focusing on developing community value-added services, integrating community commercial resources to enhance owner experience[21]. Strategic Initiatives - The company emphasizes the importance of high-quality service, technological innovation, and brand reputation to build trust and reputation among property owners[11]. - The company is committed to technological upgrades, launching the industry's first complete AI stack solution to enhance service capabilities and digital transformation[13]. - The strategic focus on "large property management" aims to deepen service and technological capabilities, integrating AI and automation into property services[15]. - The company is deploying 5G and AI applications to reduce costs and enhance community service efficiency through intelligent solutions[15]. - The ongoing expansion into community life services reflects a shift towards comprehensive, high-quality service offerings tailored to diverse owner needs[11]. Community and Social Responsibility - The company played a significant role in community pandemic prevention efforts during the COVID-19 outbreak, enhancing the perceived value of property services[10]. - During the pandemic, the company donated 40,000 liters of disinfectant and over 400 tons of poverty alleviation agricultural products to support affected areas[13]. - The company emphasizes its commitment to social responsibility and aims to be a conscientious enterprise[16]. Financial Position and Risks - The total amount of bank deposits and cash was approximately RMB 9,950.3 million, an increase of about RMB 3,024.3 million from RMB 6,926.0 million as of December 31, 2019[53]. - The net amount of trade receivables increased to approximately RMB 2,753.0 million, up about RMB 1,179.0 million from RMB 1,574.0 million as of December 31, 2019, mainly due to significant revenue growth[50]. - The company faces industry risks related to regulatory environments affecting property management fees and contract management areas[56]. - The company is monitoring foreign exchange risks, with no significant adverse impact expected from RMB exchange rate fluctuations[58]. Acquisitions and Investments - The company has completed several significant equity acquisitions to expand its business scale and enhance synergies with existing projects[29]. - The company agreed to acquire 100% equity of Urban Compass, with a maximum consideration of RMB 511.94 million for the first phase and up to RMB 1 billion for the second phase[69]. - The company acquired identifiable net assets of approximately RMB 65,414,000 from several property management companies, including RMB 58,680,000 attributed to property management contracts and customer relationships[130]. - The company also acquired identifiable net assets of approximately RMB 66,448,000 from an insurance brokerage company, which included RMB 28,663,000 for the recognized insurance brokerage license[131]. Governance and Compliance - The company established an Environmental, Social, and Governance (ESG) Committee on August 26, 2020, to enhance governance practices[70]. - The company has established an audit committee in compliance with Listing Rule 3.21, consisting of three independent non-executive directors, with a focus on financial reporting and risk management[71]. - The company has adhered to all applicable provisions of the Corporate Governance Code during the six months ending June 30, 2020[72]. - No violations of the standard code for securities trading by directors were reported during the six months ending June 30, 2020[73].

Business Performance - In 2019, the company was ranked first in operational performance among the top 100 property service companies in China by the China Index Academy[5]. - The company achieved a revenue of approximately RMB 9,644.9 million for the year ended December 31, 2019, representing a 106.3% increase compared to 2018[18]. - Gross profit for the year was approximately RMB 3,052.2 million, reflecting a year-on-year growth of 73.3%[18]. - Net profit reached approximately RMB 1,718.4 million, an increase of 83.9% from the previous year[18]. - Profit attributable to shareholders rose from approximately RMB 923.2 million in 2018 to about RMB 1,670.7 million, marking an increase of approximately 81.0%[18]. - Basic earnings per share were RMB 0.6273, up by 69.9% compared to the previous year[18]. - Community value-added service revenue for the year was approximately RMB 865.2 million, representing a year-on-year growth of 107.4%, accounting for 9.0% of the company's total revenue[36]. - Non-owner value-added service revenue reached approximately RMB 1,422.1 million, reflecting a year-on-year increase of 79.8%, contributing about 14.7% to the overall revenue[37]. - The company achieved a profit before tax of RMB 2,076,112 thousand in 2019, reflecting a strong increase from RMB 1,069,387 thousand in 2018[27]. Market Expansion and Acquisitions - The acquisition of 100% equity in Hong Kong United Property Services (China) Co., Ltd. was completed on September 9, 2019, aimed at expanding the company's business scale and market influence[9]. - The company successfully acquired several high-quality property management firms to enhance service offerings and regional balance, contributing to future growth potential[21]. - The company is focused on expanding its service capabilities through a dual strategy of organic growth and strategic acquisitions[25]. - The company plans to expand its market presence through targeted acquisitions, with a goal of increasing market share by 10% over the next two years[84]. Technological Development - The introduction of AI and IoT technologies has led to the development of an AI full-stack solution product system, including cleaning robots and smart speakers[21]. - The company has established strategic partnerships with leading tech firms such as Tencent and Alibaba Cloud to enhance technological capabilities[21]. - The company aims to leverage technology to improve service quality and enhance customer experience in the property management sector[24]. - The company is committed to strategic partnerships with leading tech firms to further develop AI and smart community solutions, improving property management efficiency[44]. Community and Social Responsibility - A community empowerment initiative was launched to connect over one million homeowners with quality agricultural products from impoverished areas, supporting poverty alleviation efforts[21]. - The company made total donations of approximately RMB 443,000 during the year ended December 31, 2019, significantly higher than RMB 48,000 in 2018[162]. Corporate Governance - The company emphasizes the importance of effective leadership and transparency in operations to enhance shareholder value[97]. - The board consists of experienced professionals with diverse backgrounds in finance, project management, and strategic planning, ensuring robust governance[82]. - The company has adopted and complied with the corporate governance code principles and provisions, with some deviations explained[97]. - The company has a structured approach to risk management and dividend policy as part of its business strategy[99]. - The company emphasizes good corporate governance by maintaining active oversight through its various committees[111]. Financial Management - The company reported a final dividend of RMB 0.1514 per share for the year ended December 31, 2019, compared to RMB 0.0849 per share in 2018, representing an increase of approximately 78.5%[157]. - The total cash and bank deposits, including restricted cash, reached approximately RMB 6,926.0 million as of December 31, 2019, up by about RMB 3,051.7 million from RMB 3,874.3 million as of December 31, 2018[73]. - The company's current assets net value was approximately RMB 3,797.1 million as of December 31, 2019, compared to RMB 1,543.7 million as of December 31, 2018, with a current ratio of 1.6 times[73]. - The total employee cost for the year was approximately RMB 4,041.6 million, with the number of employees increasing to 54,085 as of December 31, 2019, from 33,609 as of December 31, 2018[78]. Risk Management - In 2019, the company established a risk management committee to oversee the design, implementation, and maintenance of the risk management system[128]. - The company updated its risk assessment standards based on changes in the internal and external environment, considering financial, operational, regulatory, and reputational risks[132]. - The risk management process includes identification, assessment, response, monitoring, and reporting, ensuring continuous monitoring and management of risks[134]. - The audit committee conducted a comprehensive review of the risk management and internal control systems, confirming their effectiveness and adequacy for the fiscal year ending December 31, 2019[138]. Operational Efficiency - The company reported a significant increase in procurement efficiency, with a 20% reduction in costs attributed to strategic sourcing initiatives[84]. - The company is investing in technology development, with a budget allocation of $50 million for R&D in new product lines[84]. - The company has established a new property information management system and an online-offline community business service system during the tenure of its vice president[93]. Related Party Transactions - The agreements with Country Garden Holdings are classified as continuing connected transactions under the listing rules, requiring compliance with disclosure and annual review regulations[184][185][188]. - Independent non-executive directors confirmed that the ongoing related transactions were conducted in the ordinary course of business and on normal commercial terms[195]. - The external auditor reviewed the ongoing related transactions and found no issues regarding compliance with the company's pricing policy and annual caps[196].

Financial Performance - For the six months ended June 30, 2019, the company achieved revenue of approximately RMB 3,515.7 million, an increase of 74.4% compared to the same period in 2018[8]. - Gross profit for the same period was approximately RMB 1,377.9 million, reflecting a year-on-year growth of 75.3%[8]. - Net profit reached approximately RMB 826.2 million, marking a 72.3% increase from the previous year[8]. - Profit attributable to shareholders rose from approximately RMB 471.1 million in 2018 to about RMB 816.9 million, an increase of 73.4%[8]. - The basic earnings per share were RMB 30.87, representing a growth of 63.9%[8]. - Total revenue increased by approximately 74.4% to about RMB 3,515.7 million for the six months ended June 30, 2019, compared to RMB 2,015.8 million for the same period in 2018[26]. - Operating profit for the first half of 2019 reached RMB 928,516 thousand, compared to RMB 502,994 thousand in the prior year, reflecting a year-over-year increase of about 84.5%[73]. - Net profit for the period was approximately RMB 826.2 million, a 72.3% increase from RMB 479.6 million for the six months ended June 30, 2018[41]. - The total comprehensive income for the six months ended June 30, 2019, was RMB 826,260 thousand, compared to RMB 479,639 thousand for the same period in 2018, representing an increase of approximately 72%[77]. Revenue Breakdown - Revenue from property management services was RMB 2,586,199 thousand, community value-added services RMB 307,240 thousand, and non-owner value-added services RMB 595,664 thousand for the six months ended June 30, 2019[95]. - Community value-added services generated revenue of approximately RMB 307.2 million, representing a year-on-year growth of 79.4% and accounting for 8.7% of total revenue[19]. - Non-owner value-added services revenue was approximately RMB 595.7 million, which accounted for about 16.9% of total revenue, an increase of approximately 3.2 percentage points compared to the same period in 2018[20]. - Property management service revenue rose by approximately 65.4% to about RMB 2,586.2 million, accounting for approximately 73.6% of total revenue[27]. Operational Expansion - As of June 30, 2019, the company managed a contracted area of 584.2 million square meters, a 15.7% increase from the end of 2018 and a 51.3% increase year-on-year[8]. - The area under paid management was 216.8 million square meters, up 19.4% from the end of 2018 and 58.5% year-on-year[8]. - The company has successfully expanded its service scope, acquiring multiple quality property management companies and diversifying its service types to include industrial parks, commercial properties, and office buildings, achieving balanced coverage across first to fourth-tier cities[10]. - The company launched the "City Symbiosis Plan" and is gradually taking over property management and heating services within the year, indicating a proactive approach to urban service expansion[10]. - The company manages a total of 1,055 property projects and provides services to approximately 2.3 million homeowners[17]. Technological Advancements - The company has partnered with Hikvision to launch the first AI+IoT full-stack solution in the property management industry, enhancing service efficiency and reducing costs through deep integration of AI and property services[11]. - The company is deepening its core technological capabilities by deploying community robots and establishing an enterprise-level AI application and training platform[14]. - The company is leveraging cloud computing, big data, and AI technologies to create a data-driven platform for operational management, supporting scalable expansion[14]. - The company launched the first AI+IoT full-stack solution in the industry, enhancing community safety and operational efficiency[24]. - The company plans to establish a strategic partnership with telecom service providers to develop 5G smart communities[24]. Community Engagement and Social Responsibility - The company is actively engaged in community cultural construction and poverty alleviation efforts, implementing four major poverty alleviation models across various communities[12]. - The company emphasizes the importance of community-centric service, aiming to meet owners' needs and improve customer satisfaction through high-quality service delivery[9]. - The company is expanding its community value-added services, integrating various services such as home services, venue operations, and community media to enhance customer engagement and profitability[9]. Financial Position and Assets - As of June 30, 2019, the company's total bank deposits and cash amounted to approximately RMB 5,179.8 million, an increase of about RMB 1,305.5 million from RMB 3,874.3 million as of December 31, 2018[49]. - The company's current assets net value was approximately RMB 3,557.5 million as of June 30, 2019, compared to RMB 1,543.7 million as of December 31, 2018, with a current ratio of 1.9 times[49]. - The company's total assets as of June 30, 2019, amounted to RMB 8,627,330 thousand, significantly higher than RMB 5,521,894 thousand at the end of 2018, representing an increase of approximately 56.5%[74]. - The total equity attributable to shareholders rose to RMB 4,472,420 thousand from RMB 2,260,787 thousand, indicating an increase of approximately 97.5%[75]. - The net trade receivables as of June 30, 2019, were approximately RMB 1,000.3 million, an increase of about RMB 432.8 million from RMB 567.5 million as of December 31, 2018, driven by significant revenue growth[44]. Employee and Management - The total employee cost for the period was RMB 1,676.4 million, with approximately 39,551 employees as of June 30, 2019, up from 33,609 employees as of December 31, 2018[53]. - The company organized various training programs during the period, with approximately 150,000 participants and thousands of training hours, enhancing management levels and employee capabilities[54]. - Key management personnel compensation increased to RMB 18,674,000 from RMB 13,438,000, reflecting a growth of about 39.5%[137]. Shareholder Information - The company raised approximately HKD 1,943.1 million from a placement of 168,761,000 shares at a price of HKD 11.61 per share, with a net price of HKD 11.49 per share after expenses[55]. - 70% of the net proceeds from the placement will be used for regional expansion and M&A related to core business, while 30% will be allocated for technology investments and new business development[55]. - The company changed its name to Country Garden Smart Property Service Group Co., Ltd. to reflect its vision of becoming a leading technology-driven service group[56]. - The company has complied with all applicable corporate governance code provisions during the reporting period[59]. - The board decided not to declare any interim dividend for the six months ended June 30, 2019[58].

Company Overview - As of December 31, 2018, the total contracted management area reached approximately 505.0 million square meters, with a fee-based management area of about 181.5 million square meters, managing 840 property projects across over 280 cities in China and Malaysia[4]. - The company was recognized as the top community service provider in China by E-House and ranked first in operational performance among the top 100 property service companies by the China Index Academy in 2018[4]. - In June 2018, the company was officially listed on the Hong Kong Stock Exchange, marking its entry into the international capital market[5]. Financial Performance - The company achieved a revenue of approximately RMB 4,675.3 million for the year ended December 31, 2018, representing a 49.8% increase compared to 2017[17]. - Gross profit for the year was approximately RMB 1,761.6 million, reflecting a year-on-year growth of 70.1%[17]. - Net profit reached approximately RMB 934.2 million, an increase of 112.1% compared to the previous year[17]. - The profit attributable to shareholders rose from approximately RMB 401.7 million in 2017 to about RMB 923.2 million, marking a growth of approximately 129.8%[17]. - Community value-added service revenue was approximately RMB 417.2 million, showing a significant year-on-year increase of 72.5%[19]. - The company reported a total revenue of RMB 4,675,287 thousand for 2018, representing a significant increase from RMB 3,121,852 thousand in 2017, marking a growth of approximately 49.8%[25]. - The pre-tax profit for 2018 was RMB 1,069,387 thousand, up from RMB 608,197 thousand in 2017, indicating a growth of about 75.8%[25]. Service Expansion and Strategy - The company aims to become a comprehensive community life service operator, offering a wide range of community value-added services tailored to the lifecycle of community development and property value[4]. - The company has expanded its service offerings to include urban public facility operations and maintenance, smart city operations, and new market opportunities in property management[4]. - The company maintained a steady expansion strategy, acquiring multiple quality property management companies and entering the urban service sector[19]. - The company is actively investing in technology and smart solutions, implementing an "AI+" community strategy to enhance management efficiency and customer satisfaction[19]. - The company is focusing on "service + technology" and "service + ecology" strategies to enhance property management and community services, respectively[23]. Community Engagement - The company provided emergency rescue training covering 28 provinces and 240 cities, benefiting approximately 1 million households in 2018[9]. - The company organized over 1,000 events under the "Dare to Love Family Festival" initiative, benefiting 1 million households across 215 communities in 43 regions in June 2018[9]. - The company is focusing on personalized community environments to enhance customer experience and value creation capabilities[41]. Governance and Management - The company has a strong board with members holding advanced degrees in management and finance, enhancing its governance and strategic decision-making capabilities[89]. - The company emphasizes independent oversight with multiple independent directors on its board, ensuring transparency and accountability in its operations[88]. - The company has established a robust risk management and internal control system to safeguard assets and shareholder interests, with the board overseeing its effectiveness[141]. - The company has implemented procedures for handling and disclosing insider information, ensuring compliance with relevant regulations[156]. Human Resources and Talent Development - The company has introduced a talent recruitment initiative, the "Rocket Army Plan," attracting nearly 100 master's degree graduates to strengthen its management team[20]. - The total employee cost for the year was approximately RMB 2,433.8 million, with the number of employees increasing to 33,609 as of December 31, 2018, from 23,961 as of December 31, 2017[74]. - The company organized various training programs with approximately 280,000 participants, enhancing management levels and employee capabilities[75]. Future Outlook - The company anticipates a revenue growth of 25% for the next fiscal year, driven by new product launches and market expansion strategies[95]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[98]. - A strategic acquisition of a local logistics firm is expected to enhance service capabilities and increase market penetration by 15%[92]. Compliance and Shareholder Engagement - The company has maintained compliance with the standard code of conduct for securities trading since its listing date until December 31, 2018, with no violations reported[100]. - The company has established various communication channels with shareholders, including annual and interim results announcements and updates on its website[169]. - The company has arranged appropriate liability insurance for directors and senior management, which is reviewed annually[105].