Financial Performance - The company achieved a revenue of RMB 1,089.9 million for the six months ended June 30, 2022, representing a 13.8% increase from RMB 958.2 million for the same period in 2021[8]. - The profit attributable to the company's owners for the same period was RMB 210.8 million, an 18.6% increase compared to RMB 177.7 million in the previous year[8]. - Total revenue for the first half of 2022 reached RMB 1,089.9 million, a 13.7% increase from RMB 958.2 million in the same period of 2021[19]. - Net profit for the period was RMB 215.7 million, a year-on-year increase of 16.9%, with a net profit margin of 19.8%[38]. - The company reported a net profit of RMB 215,673 thousand for the six months ended June 30, 2022, compared to RMB 184,506 thousand in the previous year, reflecting a year-on-year increase of about 16.9%[59]. - The company reported a net profit of RMB 210,800,000 for the period, compared to RMB 177,691,000 in the previous year, reflecting a growth of 18.6%[65]. - Total comprehensive income for the six months ended June 30, 2022, was RMB 218,902,000, an increase of 20.5% compared to RMB 181,634,000 in the same period of 2021[61]. Project Management - The total managed projects increased to 286, with a total managed area of 43.5 million square meters, up 24.3% from 35.0 million square meters a year earlier[8]. - The total contracted projects reached 344, with a total contracted area of 62.6 million square meters, reflecting an 18.8% increase from 52.7 million square meters in the previous year[8]. - The company managed 50 commercial projects with a total managed area of 3.8 million square meters, a 26.7% increase from 3.0 million square meters in the previous year[12]. - The number of non-commercial projects under management increased from 184 to 236, with managed area growing from 32.1 million square meters to 39.8 million square meters[25]. Revenue Breakdown - Revenue from non-commercial property management and value-added services was RMB 810.5 million, representing a 19.5% year-on-year growth from RMB 678.1 million[25]. - Revenue from commercial property management and operation services slightly decreased by 0.2% to RMB 279.4 million[27]. - Community value-added services revenue increased by 32.2% to RMB 243.9 million, driven by an increase in managed area and diversified service offerings[25]. - Revenue from property management services under non-commercial property management and value-added services was RMB 394,779 thousand, an increase from RMB 297,021 thousand in the previous year[85]. Cost and Expenses - Sales costs increased by 21.0% to RMB 744.7 million, primarily due to expanded managed area and higher service quality expectations[30]. - Employee costs under sales costs rose by 22.6% to RMB 361.9 million, aligning with business development efforts[30]. - Administrative expenses rose by 14.2% from RMB 88.3 million to RMB 100.9 million during the period[33]. - Gross profit for non-commercial property management and value-added services was RMB 251.1 million, with a gross margin of 31.0%, down from 36.2% in the previous year[31]. Assets and Liabilities - Total assets as of June 30, 2022, amounted to RMB 5,597,178,000, up from RMB 5,131,448,000 at the end of 2021, representing a growth of 9.1%[62]. - Accounts receivable increased by 18.6% from RMB 517.0 million to RMB 613.4 million, attributed to higher revenue during the period[42]. - Accounts payable rose by 29.3% from RMB 166.6 million to RMB 215.4 million, reflecting ongoing business development[44]. - Non-current liabilities increased to RMB 573,452,000 from RMB 497,904,000, marking a rise of 15.2%[64]. Cash Flow - Cash and cash equivalents increased from RMB 3,803.4 million to RMB 4,149.6 million, primarily due to cash generated from operating activities[46]. - Operating cash flow for the six months ended June 30, 2022, was RMB 382,042 thousand, a decrease of 18.0% from RMB 466,073 thousand in 2021[67]. - Cash generated from operating activities was RMB 443,605 thousand, down from RMB 560,260 thousand, reflecting a decline of 20.8% year-on-year[67]. - The company did not receive any funds from shareholders during the current period, contrasting with RMB 330,000 thousand received in the previous year[67]. Strategic Plans - The company plans to enhance service quality through refined management and standardized services, aiming to improve customer satisfaction[15]. - The company aims to expand its management scale by focusing on residential, commercial, transportation, and urban services through internal growth and acquisitions[16]. - The company plans to continue expanding its services and enhancing quality to meet market demands[30]. - The company plans to further develop value-added services with an allocation of RMB 244,800 thousand (15% of total funds) by the end of 2023[49]. Governance and Compliance - The company has adhered to all provisions of the Corporate Governance Code during the reporting period[143]. - The audit committee has reviewed the group's performance in accordance with Hong Kong accounting standards[144]. - No purchases, sales, or redemptions of the company's listed securities were made during the reporting period[146].

Financial Performance - Total revenue for 2021 reached RMB 1,918 million, a 64% increase from RMB 1,168 million in 2020[8] - Gross profit for 2021 was RMB 671 million, with a gross margin of 35.0%, compared to 34.5% in 2020[8] - Net profit for 2021 was RMB 370 million, resulting in a net profit margin of 19.3%, up from 17.4% in 2020[8] - The company achieved a revenue of RMB 1,918.4 million for the year ended December 31, 2021, representing a growth of 64.2% compared to the previous year[43] - The gross profit margin for the year was 35.0%, an increase of 0.5 percentage points from the previous year[43] - The net profit attributable to shareholders was RMB 359.5 million, reflecting an 80.6% year-on-year increase[43] - The profit attributable to the company's owners for the year was RMB 359.5 million, an increase of 80.6% compared to RMB 199.1 million in the previous year[59] - The net profit for the year was RMB 369.7 million, representing an 81.5% year-on-year growth, with a net profit margin of 19.3%[93] Assets and Equity - The company’s total assets increased to RMB 5,131 million in 2021, compared to RMB 2,411 million in 2020[8] - The total equity attributable to owners of the company rose to RMB 2,932 million in 2021, significantly up from RMB 615 million in 2020[8] - Net current assets improved significantly from RMB 319.9 million as of December 31, 2020, to RMB 3,098.0 million as of December 31, 2021[101] - Cash and cash equivalents rose to RMB 3,803.4 million as of December 31, 2021, up from RMB 994.6 million as of December 31, 2020, primarily due to proceeds from the IPO and investments[101] Business Expansion - The company expanded its contracted area to 58,384 thousand square meters in 2021, up from 49,909 thousand square meters in 2020[10] - The company signed 71 new projects in 2021, adding a total contracted area of 10.2 million square meters[46] - As of December 31, 2021, the company managed 251 projects with a total managed area of 38.9 million square meters[46] - The company has expanded its project coverage to 26 cities in China and Hong Kong, indicating a strategic market expansion[62] - The company aims to expand its business into new cities and sectors, including schools and highway service areas[46] Service Quality and Customer Satisfaction - Customer satisfaction for residential properties scored 88.2 points according to third-party research, showing a stable increase[44] - The company launched a "Strong Service" initiative to enhance property service quality across over 100 projects nationwide[27] - The company plans to enhance service quality by upgrading service standards and modernizing service tools[49] - The company plans to expand its service offerings by developing personalized and diversified value-added service products to enhance community service revenue[50] Revenue Sources - Revenue from non-commercial property management and value-added services was RMB 1,425.1 million, up 75.7% from RMB 811.2 million in the previous year[77] - The revenue from commercial property management and operational services was RMB 493.2 million, a year-on-year increase of 38.2% from RMB 356.9 million[79] - Revenue from community value-added services surged by 228.8%, increasing from RMB 134.4 million to RMB 442.0 million[77] - Revenue from market positioning consulting and tenant recruitment services rose by 106.3%, from RMB 53.6 million to RMB 110.6 million[81] Governance and Management - The company has adopted the Corporate Governance Code and complied with all mandatory disclosure requirements during the reporting period[119] - The board consists of three executive directors, three non-executive directors, and three independent non-executive directors, ensuring a balance of skills and experience[121] - The company has appointed three independent non-executive directors, meeting the requirement of one-third representation on the board[125] - The board has established five committees, including the newly formed ESG Committee, to oversee specific aspects of the company's affairs[129] - The company is committed to board diversity, considering various factors such as professional experience, gender, and age to enhance performance[154] Sustainability and ESG - The company is focusing on sustainable development management and enhancing its governance structure in environmental, social, and governance matters[52] - The company has established an effective sustainability management mechanism and strengthened its oversight of ESG matters[117] - The ESG Committee was formed in March 2022, chaired by the board chairman, with the CEO and independent non-executive directors as members[117] - The main responsibilities of the ESG Committee include reviewing and approving the group's vision, goals, strategies, and management policies related to environmental, social, and governance matters[160] IPO and Financial Strategy - The company successfully listed on the Hong Kong Stock Exchange on June 28, 2021[32] - The net proceeds from the IPO amounted to RMB 1,632.0 million, with 60% allocated for strategic acquisitions and investments[104] - The company plans to utilize the unallocated IPO proceeds for strategic acquisitions, development of value-added services, and IT system upgrades by the end of 2023[104][105][106] Employee and Management Changes - Employee costs totaled RMB 698.3 million for the year, with a workforce of 11,212 full-time employees as of December 31, 2021[115] - The CEO resigned on February 23, 2022, and Zhang Jianguo was appointed as the new CEO on the same day[124] - Zhang Jianguo appointed as Executive Director and CEO, responsible for overall management and business strategy, including acquisition plans[172] - Mao Liangmin appointed as Executive Director and Executive Vice President, overseeing overall management and property management business[174] - Yao Xiaosheng appointed as Non-Executive Director, providing guidance on overall development and business strategy[179] - Yang Zhaoxuan appointed as Non-Executive Director, responsible for strategic planning and financial management[180] - Xu Lijun appointed as Independent Non-Executive Director, providing independent opinions and judgments to the board[183]

Financial Performance - For the six months ended June 30, 2021, the company's revenue was RMB 958.2 million, an increase of 108.2% compared to RMB 460.3 million for the same period in 2020[8]. - The profit attributable to the company's owners for the same period was RMB 177.7 million, representing a growth of 134.0% from RMB 75.9 million in the prior year[8]. - The company's revenue for the period was RMB 958.2 million, representing a 108.2% increase compared to RMB 460.3 million in the same period last year[18]. - Revenue from non-commercial property management and value-added services was RMB 678.1 million, up 113.1% from RMB 318.2 million year-on-year[25]. - Revenue from commercial property management and operation services reached RMB 280.1 million, a 97.1% increase from RMB 142.1 million in the previous year[28]. - The group reported a net profit of RMB 184,506 thousand for the period, compared to RMB 77,222 thousand in the previous year, marking an increase of 139.5%[76]. - Basic and diluted earnings per share for the company’s ordinary shareholders was RMB 0.16, compared to RMB 0.07 in the previous year, marking a growth of 128.6%[57]. - The overall gross profit increased from RMB 148.2 million to RMB 342.6 million, with the gross profit margin rising from 32.2% to 35.8%[32]. - The net profit for the period was RMB 184.5 million, a 138.9% increase compared to RMB 77.2 million in the same period last year, resulting in a net profit margin of 19.3%[40]. Project Management and Expansion - As of June 30, 2021, the total managed projects reached 226, with a total managed area of 35.0 million square meters, an increase of 44.6% from 24.2 million square meters a year earlier[8]. - The total contracted projects increased to 276, with a total contracted area of 52.7 million square meters, up 33.9% from 39.4 million square meters as of June 30, 2020[8]. - The company managed 42 commercial projects with a total managed area of 3.0 million square meters, reflecting an 11.3% increase from 2.7 million square meters in the previous year[16]. - The company has focused on non-commercial property management and value-added services, managing 184 non-commercial projects with a managed area of 32.1 million square meters, a growth of 48.7% from 21.6 million square meters[13]. - The company operates in 20 cities across 11 provinces in China, including Hong Kong, enhancing its market presence[11]. - The company plans to expand its market presence in first-tier, new first-tier, and second-tier cities across East, Central, North, and Southwest China[17]. Financial Position and Assets - Total assets as of June 30, 2021, amounted to RMB 4,436,404 thousand, a substantial increase from RMB 2,410,707 thousand as of December 31, 2020[58]. - Cash and cash equivalents increased to RMB 3,191.3 million as of June 30, 2021, from RMB 994.6 million as of December 31, 2020, mainly due to proceeds from the IPO and a capital injection of RMB 330 million[48]. - The total equity increased to RMB 2,731,312 thousand from RMB 760,680 thousand, representing a growth of 258.5%[59]. - The company reported a total reserve of RMB 208,426,000 as of June 30, 2021, compared to RMB 33,607,000 at the beginning of the year, reflecting retained earnings growth[114]. - The company’s total current assets as of June 30, 2021, were RMB 88,061,000, a decrease from RMB 109,252,000 as of December 31, 2020[96]. Costs and Expenses - The cost of sales for the period was RMB 615.6 million, up 97.3% from RMB 312.1 million in the previous year, aligning with the group's business expansion efforts[31]. - Administrative expenses rose to RMB 88.3 million, a 78.9% increase from RMB 49.4 million, primarily due to listing expenses and increased management costs[35]. - Other income decreased by 79.5% to RMB 6.6 million, down from RMB 32.3 million, mainly due to the absence of interest income from loans to related parties[36]. - The group’s tax expenses increased by 188.2% to RMB 80.9 million, reflecting the growth in pre-tax profits due to ongoing business expansion[39]. Cash Flow and Financing - Operating cash flow for the six months ended June 30, 2021, was RMB 560,260,000, a significant increase from RMB 135,078,000 in the same period of 2020, representing a growth of 315%[61]. - Net cash generated from operating activities reached RMB 466,073,000, compared to RMB 109,454,000 in the previous year, indicating a 326% increase[61]. - Financing activities generated a net cash inflow of RMB 1,579,567,000, a turnaround from a net outflow of RMB 1,204,798,000 in the same period last year[61]. - The net proceeds from the global offering amounted to RMB 1,632.0 million, which will be allocated for strategic acquisitions (RMB 979.2 million), development of value-added services (RMB 244.8 million), IT systems and smart community development (RMB 244.8 million), and working capital (RMB 163.2 million)[48]. Risk Management - The group faces various financial risks, including market risk, credit risk, and liquidity risk, with no changes to risk management policies since year-end[70]. - The group’s overall risk management plan aims to minimize potential adverse effects on financial performance due to unpredictable financial markets[70]. Corporate Governance - The company has adhered to all provisions of the Corporate Governance Code since its listing date until June 30, 2021[144]. - The interim results for the six months ending June 30, 2021, were reviewed by the Board's Audit Committee and the company's auditors[145]. - There have been no changes in the directors' biographies that require disclosure since the company's prospectus date[146].