香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全部或任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責 任。 於 本 公 告 日 期，本 公 司 執 行 董 事 為 李 曉 平 先 生 及 楊 志 東 先 生；本 公 司 非 執 行 董 事 為 郭 瑩 女 士 及 王 銀 虎 先 生；及 本 公 司 獨 立 非 執 行 董 事 為 崔 海 濤 教 授、甘 志 成 先 生 及 劉 曉 蘭 女 士。 卓越商企服務集團有限公司（「本公司」）董事會（「董事會」）茲通告謹定於2025年 8月26日（星 期 二）假座香港九龍油麻地渡船街28號寶時商業中心8樓06室舉行董 事 會 會 議，以 審 議 及 批 准 本 公 司 及 其 附 屬 公 司 截 至2025年6月30日止六個月之 中 期 業 績 及 其 發 佈，並 考 慮 建 議 派 發 中 期 股 息（如 有），以 及 處 理 其 他 事 項。 承董事會命 卓越商企服務集團有限公司 董事長 李曉平 香 港，202 ...

Core Viewpoint - The recognition of 卓越商企服务 as an "ESG Governance Excellence Enterprise" highlights its achievements in corporate governance and commitment to ESG principles, positioning it as a leader in sustainable development and creating new value growth opportunities [1][3]. Group 1: Governance Structure and Practices - 卓越商企服务 has established a comprehensive governance framework that includes a clear structure with defined responsibilities across various committees, ensuring effective decision-making and risk management [4][5]. - The company emphasizes compliance and risk management, implementing strict anti-corruption measures and a robust internal control system to combat fraud and other illegal activities [5][6]. - Digital management initiatives, such as the E+FM platform, enhance operational efficiency and customer experience by integrating technology into business processes [6]. Group 2: ESG Investment Trends and Opportunities - The global ESG investment landscape is rapidly evolving, with projections indicating that the ESG investment scale will exceed $50 trillion by 2025, marking a nearly 70% increase from $30 trillion in 2022 [7]. - In the Chinese market, significant capital inflows are anticipated as foreign investors increasingly prioritize ESG factors in their investment decisions, creating opportunities for companies excelling in ESG performance [7][8]. Group 3: Future Directions and Strategic Focus - 卓越商企服务 aims to deepen the integration of its governance system with ESG principles, accelerate the application of digital technologies, and expand its community engagement initiatives to foster sustainable development [8]. - The company's long-term commitment to ESG governance is expected to drive sustained value growth and enhance its competitive position in the market [8][9].

Financial Performance - In 2024, the company achieved a revenue growth of 8% year-on-year, with net profit attributable to shareholders increasing by 3%[7] - The company achieved a revenue of RMB 4,232.24 million for the year ending December 31, 2024, representing a 7.8% increase compared to RMB 3,926.81 million in the same period of 2023[53] - Total revenue for the year ended December 31, 2024, was RMB 4,232.24 million, an increase of 7.8% from RMB 3,926.81 million in 2023[55] - Property management service revenue increased by 12.4% to RMB 3,619.42 million, compared to RMB 3,221.36 million in the same period last year[55] - Value-added services revenue decreased by 15.9% to RMB 570.93 million, down from RMB 679.27 million in 2023, accounting for 13.5% of total revenue[56] - Gross profit for the period was RMB 793.46 million, a 6.3% increase from RMB 746.69 million in 2023, with a gross margin of 18.7%[59] - Net profit for the year was RMB 334.97 million, up 3.6% from RMB 323.35 million in 2023, with a net profit margin of 7.9%[71][72] Business Strategy and Operations - The company aims to turn operating cash flow positive by addressing potential liquidity pressures from related party receivables, focusing on asset-to-debt swaps and strict control measures[8] - The company is exploring structural opportunities in segmented markets, particularly enhancing value-added services for third-party owners and piloting commercial operation management at the Shanghai Wujiaochang shopping mall[8] - The company is transitioning from "digitalization" to "intelligentization," emphasizing the integration of AI technologies to enhance service models and customer satisfaction[8] - The company maintains a commitment to creating shareholder value through solid operational foundations, positive cash flow, and innovative business incubation[9] - The company is focused on optimizing its business structure and deepening digital transformation to enhance independence and sustainability[13] - The company aims to strengthen its core capabilities and adapt to market fluctuations while reducing reliance on related businesses[13] - The company is focused on a dual-driven strategy of solidifying core business and diversifying value-added services, aiming for long-term sustainable growth[42] Market Presence and Growth - The total managed area reached approximately 72.20 million square meters in 2024, representing a 12.7% increase compared to the same period in 2023, with third-party managed properties accounting for 61.7%[27] - The company signed new contracts covering an area of 15.698 million square meters in 2024, up from 13.154 million square meters in 2023, indicating a growth of approximately 19.1%[28] - The total contracted area as of the end of 2024 was approximately 83.32 million square meters, reflecting an 8.6% increase year-over-year[27] - The company has established a strong presence in first-tier and new first-tier cities, which account for 75.1% of the managed area, with the Guangdong-Hong Kong-Macau Greater Bay Area and Yangtze River Delta regions representing 64.2%[27] - Business property revenue accounted for 64.6% of the total property service revenue, while third-party property services represented 61.4% of the total property service revenue[30] Customer and Service Development - The group maintained a 100% retention rate for strategic customers, with new strategic customer contracts amounting to RMB 988.90 million[32] - Owner value-added services increased from 46% to 62.2% of total value-added services, indicating a structural transformation in the business model[35] - Revenue from owner value-added services reached RMB 355.38 million, representing a year-on-year growth of 13.8%[35] - The company has introduced innovative international service standards in residential property services, enhancing customer satisfaction and living experiences[20] - The company aims to provide customized and intelligent value-added services, transitioning from single to diversified service offerings[21] Digital Transformation and Technology - The company is focusing on digital transformation and has integrated resources to enhance decision-making efficiency and support sustainable business development[25] - The company is leveraging advanced technologies such as IoT, big data, and AI to improve operational efficiency and create maximum value for enterprise clients[16] - The group is focused on digital transformation, implementing a fully digital management platform for financial and business processes to enhance decision-making efficiency[39] - The company aims to transition from basic services to value co-creation, leveraging digital transformation and AI technology to enhance decision-making and service efficiency[49] Governance and Management - The company has appointed Yang Zhidong as the CEO and Executive Director, effective August 15, 2023[102] - The company has a strong management team with extensive experience in strategic planning and operational management[106] - The company has engaged independent directors with strong academic and professional backgrounds to enhance governance and strategic oversight[113] - The diverse expertise of the board members is expected to contribute positively to the company's future growth and market positioning[120] - The company emphasizes the importance of independent advice in its operational and management strategies through its board composition[114] Shareholder Returns and Dividends - The company is committed to providing sustainable returns to shareholders through stable and generous dividends[9] - The company reported a proposed final dividend of HKD 0.0628 per share for the fiscal year ending December 31, 2024, subject to shareholder approval at the annual general meeting on May 27, 2025[127] - The company is committed to maintaining liquidity to seize future growth opportunities while distributing dividends based on profitability and capital needs[130] Legal and Regulatory Compliance - The company is subject to various legal and regulatory factors that could impact its operations and financial performance[133] - The board is committed to adhering to the Hong Kong Stock Exchange's listing rules regarding director disclosures and remuneration practices[119] Future Outlook and Strategic Plans - The company plans to implement a "human-machine collaboration" service model in select projects to reduce operational costs and enhance service response speed[48] - By 2025, the company will enhance its sales and operations team collaboration to improve market responsiveness and operational efficiency[50] - The company will continue to explore digital transformation applications in external scenarios to drive growth and efficiency[49]

Investment Rating - The investment rating for the company is "Outperform the Market" and is maintained [2]. Core Views - The company achieved a revenue of 4,232.24 million RMB in 2024, representing a year-on-year increase of 7.8%. The net profit attributable to shareholders was 312.09 million RMB, up 3.1% year-on-year. The board proposed a total dividend of 13.94 HKD cents per share for the year, a decrease of 26.6% compared to the previous year [7]. - The company's property management service revenue reached 3,619.42 million RMB, accounting for 85.5% of total revenue, with a year-on-year increase of 12.4%. The managed area increased to approximately 72.20 million square meters, a growth of 12.7% year-on-year [7]. - The company actively reduced non-owner value-added services, resulting in a 15.9% decline in value-added service revenue to approximately 570.93 million RMB. However, owner value-added service revenue grew by 13.8% [7]. - The gross margin decreased from 19.0% in 2023 to 18.7% in 2024, primarily due to increased competition in the external market [7]. - The company is expected to have an EPS of 0.28 RMB in 2025 and 0.31 RMB in 2026, with a target valuation range of 2.24 to 2.80 RMB (2.43 to 3.03 HKD) based on a dynamic PE of 8-10X for 2025 [7]. Financial Data and Forecast - Revenue is projected to grow from 3,926.81 million RMB in 2023 to 5,836.07 million RMB in 2027, with a compound annual growth rate (CAGR) of approximately 11.3% [6]. - Net profit is expected to increase from 302.69 million RMB in 2023 to 416.29 million RMB in 2027, with a year-on-year growth rate of 9.7% in 2025 and 10.8% in 2026 [6]. - The gross margin is forecasted to decline gradually from 19.0% in 2023 to 17.3% in 2027 [6]. - The return on equity is expected to remain stable around 8.4% to 8.6% from 2024 to 2027 [6].

重点业态市占率稳步提升 具体来看，2024年，卓越商企服务保持商务物业领域领先地位，超八成的基础物业服务收入来自商务、 工业及公共物业板块。在规模方面，合约面积首次突破八千万平方米，同比增长8.6%，其中，在一 线、新一线城市，在管面积持续保持在75%以上的高位水平，长三角地区增长势头较好，在整体结构上 占比首次达到30%。 从增长的动因来看，公司非住物业第三方的在管面积占比保持在60%以上，第三方业务仍然是核心引 擎。 在业绩会上，卓越商企服务执行董事、首席执行官杨志东表示，2024年公司全年新签的第三方合同总额 首次突破18.8亿元，创下历史新高。在高端制造、算力和数据中心等重点业态的市场占有率稳步提升， 与战略客户的合作持续深化。 "2024年是卓越商企服务的交付大年，我们不仅实现存量战略业务100%合同保有，全年还有超过700万 平方米的战略客户新拓园区实现高标准交付，涵盖超大型互联网总部园区、研发办公园区、高端制造园 区等核心业态，"杨志东表示，这些成绩进一步印证"以服务促续约、以品质拓增量"的长期发展策略正 在取得实际效果。 本报记者陈潇 "未来房地产行业会从高周转的增量发展模式转向精细化的存量运 ...

卓越商企服务2024年度业绩发布会现场 华夏时报（www.chinatimes.net.cn）记者 梁宝欣 深圳报道 3月27日，卓越商企服务（06989.HK）召开2024年度业绩发布会。财报数据显示，2024年，卓越商企服务收入约 42.32亿元，同比增长7.8%；毛利约7.93亿元，同比增长6.3%；基础物业管理服务的毛利率为17.8%，较去年同期 下降0.6个百分点。 《华夏时报》记者关注到，第三方业务快速增长，是卓越商企服务2024年业绩亮点。卓越商企服务主营业务涵盖 基础物业管理服务、增值服务、其他服务。2024年，在基础物业服务板块，来自卓越集团以外第三方独立客户的 收入达22.2亿元，同比增16%，占基础物业收入比例提升2个百分点；第三方业主增值服务收入3.6亿元，同比增 14%，占增值收入比例提升16个百分点。 从业务来源来看，卓越商企服务2024年基础物业服务收入同比增长约4亿元，增长的部分中有超过七成是来自第三 方客户，第三方客户同比增速维持在16%的水平。若按物业业态划分，其超八成的基础物业服务收入是来自商 务、工业及公共物业。 数据显示，2024年，卓越商企服务合约面积约8332万平 ...

（文/孙梅欣 编辑/张广凯） 卓越商企服务的业绩显示，去年第三方业务的拓展是给公司带来增长的主要方式。面对今年的预 期，"回收欠款"将是公司的重要工作。 和一些头部物业企业类似，卓越商企服务也在降低和地产关联企业的依赖度。去年公司将和关联交易收 入降到10%以下，关连交易收入下降至4.2亿元，同比下降30%。不过，公司通过提高第三方合作比例提 高营收。 杨志东透露，去年公司新签的第三方合同金额达到18.8亿元，创下历史新高。同时，第三方业主增值服 务也随之带来快速增长，全年收入达到3.5元，同比增长13.8%，三年复合增长率达到52.1%。 而在对未来业务的展望上，公司管理层表达了对第三方物管线将继续重点发展的表态，并表示这条业务 线在未来仍会保持两位数以上的增长。 降低关联企业交易从现阶段的行情来看，能够避免被下行的地产业务拖累，但公司营收增速的放缓，也 主要来自于对关联交易的压降，净利率的下滑，也是业务结构更独立的代价。 对于公司的未来发展方向，卓越商企服务目前仍将"聚焦增长"作为主要方向，通过主航道业务和多元化 增值业务带来业绩增长。 卓越商企服务公布的业绩显示，公司去年营收42.32亿元，同比上升7. ...

"未来房地产行业会从高周转的增量发展模式转向精细化的存量运营模式。在这样的背景下，以非住为 主的商业物业管理企业，存在机会和挑战。"3月27日，在卓越商企服务集团有限公司(以下简称"卓越商 企服务")业绩说明会上，董事会主席兼执行董事李晓平表示。 同日，卓越商企服务发布的2024年"成绩单"显示，在市场压力下，公司维持稳健表现，2024年实现营收 42.3亿元，较去年同期增长8%，归母净利润达到3.12亿元，同比实现3%的增长，呈现筑底企稳态势。 从增长的动因来看，公司非住物业第三方的在管面积占比保持在60%以上，第三方业务仍然是核心引 擎。 在业绩说明会上，卓越商企服务执行董事、首席执行官杨志东表示，2024年公司全年新签的第三方合同 总额首次突破18.8亿元，创下历史新高。在高端制造、算力和数据中心等重点业态的市场占有率稳步提 升，与战略客户的合作持续深化。 卓越商企首席财务官兼联席公司秘书贾杰在业绩说明会上表示，在经历2023年去地产化的较大调整后， 公司2024年的业绩已企稳回升，毛利润和归母净利均取得增长，关联交易收入占比进一步降低，第三方 业务快速增长，独立性进一步增强。 "成绩来之不易，但这充分 ...

3月27日，卓越商企服务管理层在业绩会上对包括《中国经营报》在内的媒体记者表示，目前房地产行 业仍处于深度调整期，短期来看，以前走高周转、高杠杆模式的企业在不断加速出清，稍优质一点的企 业在重组优化自身的资产负债表，预计2025年到2026年风险集中释放，未来房地产行业会从高周转的增 量发展模式转向精细化的存量运营模式。"在这样的背景下，我们这种以非住宅为主的商业物业服务管 理企业，是存在机会和挑战的。" 基础物业服务仍是收入主力 3月26日晚间，卓越商企服务（6989.HK）发布2024年业绩公告。报告期内，卓越商企服务收入约42.32 亿元，同比增长7.8%；净利润约3.35亿元，同比增长3.6%；净利润率为7.9%，较2023年下降0.3个百分 点。 卓越商企服务是一家商务不动产服务运营商，专注于为客户提供涵盖资产全生命周期的维护服务及全链 条的解决方案，公司主营业务包括基础物业管理服务、增值服务及其他相关业务。 公告显示，2024年，卓越商企服务来自商务物业的收入占比55.2%，来自公共及工业物业的收入占比 14%，来自住宅物业的收入占比16.3%。报告期内，公司合约面积约8332万平方米，同比增长8 ...

每经记者 陈荣浩 每经编辑 陈梦妤 3月26日晚间，卓越商企服务（HK06989，股价1.38港元，市值16.84亿港元）披露2024年业绩报告。 2024年，公司收入约42.32亿元，同比增长7.8%；毛利约7.93亿元，同比增长6.3%；基础物业管理服务的毛利率为17.8%， 较去年同期下降0.6个百分点。 今日（3月27日），卓越商企服务召开2024年度业绩发布会，董事会主席兼执行董事李晓平，执行董事、总经理杨志东，首 席财务官兼联席公司秘书贾杰出席。 "目前房地产行业仍处于深度调整期。短期来看，高周转、高杠杆企业正在加速出清，较为优质的企业在重组优化自身的资 产负债表。未来的房地产行业会从一个高周转增量发展模式转向一个精细化存量运营模式。"李晓平表示。 李晓平提到，当下物管行业出现了一些变化，这是挑战，也是机会。"首先，因为房价的调整，越来越多以住宅开发为主的 企业也开始进入物管行业，使得整个行业竞争加剧，内卷越来越严重。但另一方面，竞争加剧，行业不断迭代，对那些具 备专业服务能力、较强独立运营的企业来说，反而是较大的机会。" 卓越商企服务业绩发布会现场 图源：企业供图 "物管企业独立运营是大势所趋" ...