Financial Performance - For the year ended December 31, 2022, the group's revenue was approximately RMB 11,809.2 million, with a gross profit of approximately RMB 2,719.1 million and a net profit of approximately RMB 1,478.6 million[2]. - The group reported earnings attributable to shareholders of approximately RMB 1,422.7 million, with basic earnings per share of approximately RMB 0.13[3]. - The group's net profit for the year 2022 was approximately RMB 1,478.6 million, with profit attributable to the company's owners amounting to approximately RMB 1,422.7 million[73]. - Total revenue for the group decreased from RMB 13,193,464,000 in 2021 to RMB 11,809,176,000 in 2022, a decline of approximately 10.5%[16]. - The gross profit for the year was approximately RMB 2,719.1 million, with a gross margin of 23.0%, down from 27.8% in 2021[68]. Revenue Breakdown - Revenue for property management services was RMB 9,440,560,000 in 2022, an increase from RMB 9,101,820,000 in 2021, representing a growth of approximately 3.7%[16]. - Community value-added services revenue was RMB 2,280,523,000 in 2022, slightly down from RMB 2,288,944,000 in 2021[16]. - Revenue from non-owner value-added services plummeted by 95.1% to RMB 88.1 million due to the liquidity crisis of related parties[65]. - Revenue from community value-added services was RMB 2,280.5 million, representing a slight decline of 0.4% year-on-year[64]. Assets and Liabilities - The group's total assets as of December 31, 2022, amounted to RMB 7,147.8 million, compared to RMB 6,602.1 million in 2021[6]. - Total liabilities decreased from RMB 10,104.7 million in 2021 to RMB 8,660.5 million in 2022[6]. - As of December 31, 2022, the group's net current liabilities and net liabilities were RMB 3,321,357,000 and RMB 1,512,765,000 respectively[10]. - The total liabilities as of December 31, 2022, included net current liabilities of approximately RMB 3,321,357,000 and net debt of RMB 1,512,765,000[52]. Cash Flow and Expenses - The group’s cash and cash equivalents increased from RMB 1,130.2 million in 2021 to RMB 1,568.0 million in 2022[5]. - Total expenses for the year decreased to RMB 9,867,451 thousand in 2022 from RMB 10,509,584 thousand in 2021, a decrease of 6.1%[25]. - Employee benefit expenses decreased to RMB 5,329,374 thousand in 2022 from RMB 5,767,308 thousand in 2021, a reduction of 7.6%[25]. - The current tax expense for 2022 was RMB 428,098 thousand, up from RMB 256,371 thousand in 2021, an increase of 67%[26]. Operational Developments - The total contracted area as of December 31, 2022, was approximately 819 million square meters, with a managed area of approximately 500 million square meters, maintaining a leading position in the industry[2]. - The company expanded its third-party project management area to approximately 148 million square meters, accounting for about 30% of the total managed area, with new third-party management area representing about 37% of the total new management area[55]. - The customer complaint rate decreased by 13.5% year-on-year, indicating an improvement in property service satisfaction[54]. - The company aims to enhance its market expansion capabilities and service quality, focusing on becoming a benchmark in the property service industry in China[56]. Debt and Repayment Plans - The group is actively discussing repayment plans with China Evergrande Group regarding RMB 13.4 billion of occupied funds to protect its interests[2]. - The group is negotiating a repayment plan with China Evergrande for approximately RMB 13,400,000,000 in secured notes, which is expected to have no significant impact on future cash flows[10]. - The group has reached agreements with several creditors to extend repayment periods from one to four years, with further extensions possible if necessary[10]. Governance and Compliance - The audit committee, consisting of three independent non-executive directors, reviewed the financial statements for the year ending December 31, 2022[88]. - The company's auditor confirmed that the financial data in the performance announcement aligns with the audited financial statements for the year ending December 31, 2022[89]. - The company has adopted the Corporate Governance Code as per the Hong Kong Stock Exchange rules and complied with all applicable provisions for the year ending December 31, 2022[86]. Future Outlook - The company intends to shift its third-party project expansion from "scale" to "efficiency and scale," optimizing project layout and enhancing operational competitiveness[57]. - The company will maintain a prudent operational approach in 2023, focusing on high-quality service capabilities and community value-added business potential[57]. - The company plans to develop a comprehensive service portal focusing on property services and lifestyle services, enhancing customer convenience and satisfaction[56].

Financial Performance - For the year ended December 31, 2021, the group's revenue was approximately RMB 13,193.5 million, with a gross profit of approximately RMB 3,663.9 million, and a net loss of approximately RMB 388.8 million[2]. - The company's total revenue for the year ended December 31, 2021, was approximately RMB 13,193.5 million, representing a year-on-year growth of about 22.4%[81]. - Property management services generated revenue of approximately RMB 9,101.8 million, accounting for 69.0% of total revenue, with a year-on-year increase of 44.0%[82]. - Community value-added services revenue reached approximately RMB 2,288.9 million, representing 17.3% of total revenue, and grew by 48.9% year-on-year[84]. - The overall gross profit for the company was approximately RMB 3,663.9 million, reflecting a year-on-year decrease of 8.8%[87]. - The company reported a net loss of RMB 388.8 million for the year, a shift from a net profit of RMB 2,646.5 million in the previous year, largely due to full impairment provisions for receivables from related parties[93]. Assets and Liabilities - The group's total assets as of December 31, 2021, amounted to RMB 6,602.1 million, a significant decrease from RMB 17,108.5 million as of December 31, 2020[4]. - The total liabilities of the group increased to RMB 10,104.7 million as of December 31, 2021, compared to RMB 7,251.9 million as of December 31, 2020[5]. - As of December 31, 2021, the group's net current liabilities and net debt were RMB 5,450,169,000 and RMB 3,502,530,000, respectively[9]. - The group’s non-current assets increased to RMB 2,681.6 million as of December 31, 2021, from RMB 287.9 million as of December 31, 2020[4]. - The company recognized a goodwill impairment of RMB 593,946 thousand as of December 31, 2021, compared to zero in 2020[38]. Cash Flow and Financial Position - The group's cash and cash equivalents decreased significantly to RMB 1,130.2 million from RMB 10,605.4 million in the previous year[4]. - Cash and cash equivalents totaled RMB 1,166.8 million, a decrease of approximately RMB 11,443.8 million from RMB 12,610.6 million, primarily due to pledged deposits for financing third-party companies[99]. - The company reported significant losses due to liquidity crises related to affiliated parties and a RMB 13.4 billion deposit pledge event, impacting its ability to continue as a going concern[104]. Dividends and Share Capital - The board of directors did not recommend the payment of any final dividend for the year ended December 31, 2021[2]. - The company did not declare or pay any dividends for the years ended December 31, 2021, and 2020[36]. - The company's issued share capital increased to RMB 10,810,811,000 as of December 31, 2021, from RMB 7,060,000,000 in 2020, reflecting a growth of 53.9%[45]. Employee and Operational Metrics - As of December 31, 2021, the company had 73,381 employees, with total employee costs amounting to approximately RMB 5,767.3 million for the year[105]. - Employee benefits expenses increased to RMB 5,767,308 thousand in 2021 from RMB 3,873,885 thousand in 2020, representing a growth of 48.7%[32]. Business Acquisitions and Investments - The company agreed to acquire 100% equity of Evergrande Insurance Brokerage for approximately RMB 39,198,000[14]. - The total acquisition cost for seven property management companies was RMB 2,167,981,000, with identified property management contracts and customer relationships valued at RMB 1,133,376,000 recognized as intangible assets[56]. - The net cash outflow from acquisitions for the year ended December 31, 2021, was RMB 1,101,795,000 after accounting for cash and cash equivalents acquired[59]. Debt and Restructuring Efforts - The group is actively discussing repayment plans with China Evergrande Group regarding RMB 13.4 billion of occupied funds to protect its interests[2]. - The group is negotiating a repayment plan with China Evergrande Group involving approximately RMB 13,400,000,000 in secured notes[9]. - Several creditors have agreed to extend repayment terms from one to four years, which may be further extended if necessary[10]. - The group has entered into restructuring support agreements with creditor groups to facilitate the proposed debt restructuring[70]. Compliance and Governance - The company has appointed new compliance and internal control advisors to ensure adherence to listing rules[116][115]. - An independent investigation committee was established to investigate the deposit pledge event, with findings indicating that approximately RMB 13.4 billion in deposits were enforced by banks due to the triggering of pledge realization conditions[113]. - The audit committee has reviewed the group’s accounting principles and practices, including the audited financial statements for the year ended December 31, 2021[121].

Financial Performance - For the six months ended June 30, 2021, the company achieved revenue of approximately RMB 7,873 million, representing a year-on-year growth of about 68.3%[13] - Gross profit for the same period was approximately RMB 2,939 million, with a year-on-year increase of about 68.7%[13] - Net profit reached approximately RMB 1,934 million, reflecting a year-on-year growth of about 68.6%[13] - Property management service revenue for the period was approximately RMB 4,757.3 million, representing a year-on-year growth of about 68.4%, accounting for approximately 60.4% of total revenue[33] - Community value-added service revenue was approximately RMB 1,138.6 million, a year-on-year increase of about 83.1%, contributing approximately 14.5% to total revenue[34] - Non-owner value-added service revenue was approximately RMB 1,977.5 million, reflecting a year-on-year growth of about 60.6%, accounting for approximately 25.1% of total revenue[37] - The total revenue for the first half of 2021 reached approximately RMB 7,873.4 million, representing a growth of about 68.3% compared to the same period in 2020[57] - The company reported a profit of RMB 1,935,257 thousand for the first half of 2021, a substantial increase from the previous year's profit[141] - The company's profit attributable to owners for the six months ended June 30, 2021, was RMB 1,935,257,000, an increase of 68.6% compared to RMB 1,148,176,000 for the same period in 2020[192] Operational Expansion - The total contracted area managed by the company was approximately 810 million square meters, an increase of about 245 million square meters compared to the end of 2020[13] - The area under management was approximately 450 million square meters, with an increase of about 150 million square meters from the end of 2020[13] - The total managed area as of June 30, 2021, reached 450,236 thousand square meters, representing a 77.2% increase from 254,019 thousand square meters in the previous year[28] - Residential properties accounted for 80.0% of the managed area, with a total of 360,182 thousand square meters, an increase of 43.3% from 251,355 thousand square meters[28] - Non-residential properties saw a dramatic increase of 3,280.4%, growing to 90,054 thousand square meters from 2,664 thousand square meters[28] - The total area managed by third-party developers increased by 128 million square meters compared to the end of 2020, totaling approximately 138 million square meters[32] - As of June 30, 2021, the total contracted area reached approximately 810 million square meters, with a managed area of about 450 million square meters, covering 317 cities across 22 provinces, 5 autonomous regions, and 4 municipalities, including Hong Kong[32] Strategic Initiatives - The company aims to enhance service quality and diversify its offerings to improve customer experience and drive high-quality development[16] - The company is focusing on brand building and optimizing its operations to leverage its market advantages and internal demand potential[16] - The company aims to enhance service quality and innovation to meet diverse customer needs, focusing on a "people-oriented" service approach[17] - The company is committed to a "technology leadership" strategy, leveraging AI, cloud computing, big data, and IoT to enhance property management services[19] - Future plans include a cloud transformation to create a comprehensive smart property management platform, enhancing operational efficiency and customer experience[19] - The company emphasizes a "service-oriented" strategy, focusing on quality improvement and refined services to enhance customer satisfaction[19] - The company is expanding its service offerings to include community group buying, real estate services, home decoration, insurance brokerage, and housekeeping services[22] - The company is focused on diversifying its operations and enhancing its standardized operational system to solidify its leading position in the industry[22] - The company aims to enhance its core competitiveness in the intelligent sector and become a cloud platform provider, focusing on technology-driven property management solutions[50] - The company plans to deepen its community value-added services, targeting areas such as community group buying, real estate services, and home decoration, to improve service penetration rates[54] - The company is committed to expanding its market presence through a diversified layout and enhancing project management density to achieve high growth rates[46] Awards and Recognition - The company received multiple awards, including being ranked as one of the top 2 property service companies in China for 2021[10] - The company has received multiple awards, including being ranked among the top 10 property service companies in China for comprehensive strength and investment value[25] Financial Position - The group's total bank deposits and cash amounted to approximately RMB 14,028.0 million as of June 30, 2021, an increase of approximately RMB 1,417.4 million from RMB 12,610.6 million as of December 31, 2020, driven by significant performance growth and timely collections from customers[90] - As of June 30, 2021, the group's current assets net value was approximately RMB 9,829.4 million, with a current ratio of approximately 1.99 times, down from 2.34 times as of December 31, 2020[90] - The company’s total liabilities as of June 30, 2021, were RMB 4,196,305,000, indicating a growth in financial obligations compared to the previous reporting period[198] - The company’s cash and cash equivalents as of June 30, 2021, were RMB 1,200,000,000, reflecting a strong liquidity position[198] Employee Development - As of June 30, 2021, the group had approximately 81,136 employees, with a focus on enhancing employee skills through various training programs, totaling over 44,000 sessions and 61,000 hours, involving 568,000 participants[110][111] - The company has committed to enhancing employee training and development, with a focus on corporate culture and operational efficiency[115] - The group has established a three-tier training mechanism to improve employee capabilities and align training with business development needs[110] Acquisitions - The group completed the acquisition of 65% equity in Taiyuan Blue Clean Property for RMB 12.35 million on March 8, 2021[101] - The group acquired 100% equity in Ningbo Yatai Hotel Property for RMB 1,500 million, completed on February 23, 2021[102] - The acquisition of Shenzhen Futian Property for approximately RMB 371.39 million was completed on April 19, 2021[103] - The group signed an agreement to acquire 70% equity in Nanchang Tianxiang Property for RMB 29.54 million, completed on March 12, 2021[104] - The acquisition of 70% equity in Wuhan Jiebaili Property for RMB 306.6 million was completed on March 25, 2021[105] - The company acquired several property management companies post-listing, enhancing its service offerings in China[179] - The company acquired seven property management companies for a total cash consideration of RMB 2,413,077,000, with identifiable property management contracts and customer relationships valued at RMB 1,051,169,000 recognized as intangible assets[195] Market Outlook - The property management industry is entering a "golden era" of development, driven by favorable policies and market demand[16] - The management believes that the property service industry will continue to attract significant market attention due to its high growth and certainty[16] - The company aims to become the largest and strongest technology-based urban comprehensive service operator globally, leveraging its market advantages and internal demand potential[55]