FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 金科智慧服務集團股份有限公司 呈交日期： 2024年12月3日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 H | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 09666 | 說明 | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | 事件 | | 已發行股份（不包括庫存股份）數 目 | 佔有關事件前的現有已發 行股份（不包括 ...

此乃要件 請即處理 閣下如對本通函任何方面或應採取之行動有任何疑問，應諮詢 閣下之持牌證券交易商或註冊證券 機構、銀行經理、律師、專業會計師或其他專業顧問。 閣下如已售出或轉讓所有名下之金科智慧服務集團股份有限公司之股份，應立即將本通函連同隨附 之代表委任表格送交買方或承讓人或經手買賣或轉讓之銀行、持牌證券交易商或註冊證券機構或其 他代理商，以便轉交買方或承讓人。 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通函之內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不就因本通函全部或任何部分內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 Jinke Smart Services Group Co., Ltd. 金科智慧服務集團股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：9666） 主要及關連交易 債務清償授權 及 2024年第三次臨時股東會通告 獨立董事委員會及獨立股東的獨立財務顧問 除文義另有所指外，本封面所用詞彙與本通函「釋義」一節所界定者具有相同涵義。 謹訂於2024年12月20日（星期五）下午三時正假座中國重慶市江北區石馬河街道盤溪路480號 ...

Company Performance and Recognition - Jinke Smart Services Group ranked in the top 10 of China's property service companies for the 9th consecutive year, achieving a position in the top 8 and leading in customer satisfaction and service quality categories [27]. - Jinke Smart Services Group received multiple accolades, including being ranked 1st in IFM service excellence and 3rd in technology empowerment among property service companies [27]. - Jinke Smart Services Group's commitment to high-quality development is reflected in its continuous recognition as a leading enterprise in the property service industry [27]. - The company has maintained a top 10 position in comprehensive strength and service scale in the property service industry for nine consecutive years, and has been awarded top 3 in customer satisfaction and service quality in 2024 [33]. Service Offerings and Innovations - The company launched a new corporate service brand "Jin Yue Future" on January 24, 2024, aimed at providing integrated service experiences for high-quality clients [22]. - Jinke Smart Services Group's new service upgrades aim to deliver a comprehensive, all-scenario service experience to clients [22]. - The company has expanded its service offerings to include specialized property management for hospitals and educational institutions, ranking highly in these sectors [27]. - The company emphasizes a "service + technology, service + ecology" development strategy, focusing on enhancing service quality and operational efficiency [32]. Community Engagement and Social Responsibility - The company initiated the "8th Year 'YI' Together" community volunteer program, engaging nearly 10,000 participants across over 100 cities in various social responsibility activities [24]. - The 2024 Jinke Community Neighborhood Sports Season attracted participation from tens of thousands of residents across multiple cities, promoting community fitness and engagement [29]. - The company held a national service competition to enhance service quality, focusing on customer experience and professional skills across various service scenarios [25]. Financial Performance - Total revenue for the six months ended June 30, 2024, was approximately RMB 2,410.2 million, a slight decrease of about 2.2% compared to the same period in 2023 [39]. - Revenue from space property services increased by approximately 0.9% to about RMB 2,048.1 million, with property management services rising to approximately RMB 2,011.0 million, a growth of about 3.4% year-on-year [40]. - Non-owner value-added services revenue significantly decreased by approximately 56.5% to about RMB 37.0 million, primarily due to the liquidity crisis in the real estate sector [40]. - The company plans to increase the dividend payout ratio to no less than 60% to enhance shareholder returns [38]. Challenges and Market Conditions - The company is transitioning from an incremental market to a stock market, facing challenges such as reduced new home sales and increased competition [30]. - The property management industry is experiencing a shift towards independent transformation, focusing on service quality rather than management area [34]. - The long-term outlook for the property management industry remains positive, with continued demand for high-quality services and a focus on value-added services [34]. Operational Efficiency and Cost Management - The company is committed to improving cash flow and operational quality while pursuing sustainable and high-quality development [34]. - The company has implemented digital upgrades to enhance property management efficiency and service effectiveness [30]. - Total service costs increased by approximately 4.9% to about RMB 2,260.6 million for the first half of 2024, up from approximately RMB 2,154.8 million in the same period of 2023 [61]. - Gross profit decreased by approximately 17.6% to about RMB 464.2 million, with a gross margin of 19.3%, down from 22.9% in the same period of 2023 [63]. Shareholder and Corporate Governance - The company has adopted and applied the corporate governance code, ensuring compliance with all applicable provisions during the reporting period [85]. - The Audit Committee was established to review and supervise the financial reporting process, internal control systems, and risk management [87]. - The company repurchased a total of 6,261,000 H-shares at a total cost of approximately HKD 54,126,007 during the six months ending June 30, 2024 [99]. - The company’s financial data for the six months ending June 30, 2024, is subject to review and compliance with relevant accounting standards [105]. Related Party Transactions - Revenue from related party transactions with Jinke Group for the six months ended June 30, 2024, was RMB 28,060 thousand, a decrease of 61.0% compared to RMB 71,934 thousand for the same period in 2023 [190]. - Interest income from loans to Jinke Group was RMB 10,128 thousand, down 83.0% from RMB 59,627 thousand year-on-year [190]. - The company continues to engage in related party transactions as part of its normal business operations, adhering to agreed terms [190].

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected price increase of over 15% in the next 6-12 months [2][10]. Core Views - The company reported a revenue of 2.41 billion yuan for the first half of 2024, a year-on-year decrease of 2.22%. It also recorded a net loss attributable to shareholders of 194 million yuan, compared to a net profit of 189 million yuan in the same period of 2023 [2][3]. - The decline in revenue is attributed to a significant drop in various service revenues, including a 56.5% decrease in non-owner value-added services and a 43.9% decrease in smart technology services [3]. - The company is focusing on improving operational efficiency and optimizing its property management portfolio, resulting in a 6.69% decrease in managed area and a 9.92% decrease in contracted area year-on-year [3]. - The company has been actively repurchasing shares, spending 180 million HKD to buy back 25.96 million H shares, which represents 4.1% of the total share capital at the beginning of the period [3]. Financial Performance - The company expects to turn a profit in the full year 2024, with projected net profits of 540 million yuan, 580 million yuan, and 620 million yuan for 2024-2026, reflecting year-on-year growth rates of 7.5% and 6.6% for 2025 and 2026, respectively [4]. - The price-to-earnings (P/E) ratios for 2024-2026 are projected to be 7.7x, 7.2x, and 6.7x, respectively, indicating a potentially undervalued stock [4]. Key Financial Metrics - The company reported a revenue of 4.98 billion yuan in 2023, with a slight decline from 5.00 billion yuan in 2022. The expected revenue for 2024 is 5.29 billion yuan, with a growth rate of 6.27% [5]. - The net profit attributable to shareholders is projected to recover from a loss of 951 million yuan in 2023 to a profit of 537 million yuan in 2024 [5]. - The diluted earnings per share (EPS) is expected to improve from -1.54 yuan in 2023 to 0.87 yuan in 2024 [5].

Financial Performance - The total revenue for the six months ended June 30, 2024, was approximately RMB 2,410.2 million, a decrease of about 2.2% compared to RMB 2,464.8 million for the same period in 2023[2]. - Revenue from property management services was approximately RMB 2,011.0 million, an increase of about 3.4% from RMB 1,944.7 million in the same period of 2023[2]. - The gross profit for the period was approximately RMB 464.2 million, down about 17.6% from RMB 563.5 million in the same period of 2023, resulting in a gross margin of 19.3%[2]. - The company reported a loss of approximately RMB 190.3 million for the period, with a loss attributable to owners of the company of approximately RMB 194.4 million[2]. - The company’s basic and diluted loss per share was RMB 0.32 for the period, compared to a profit of RMB 0.29 for the same period in 2023[4]. - The company reported a net loss attributable to owners of the company of RMB (194,430) thousand for the six months ended June 30, 2024, compared to a profit of RMB 189,479 thousand in the same period of 2023[26]. - Basic loss per share for the six months ended June 30, 2024, was RMB (0.32), compared to RMB 0.29 earnings per share in the same period of 2023[26]. Revenue Breakdown - Revenue from space property services was RMB 2,048,071 thousand, compared to RMB 2,029,877 thousand in the previous year, reflecting an increase of 0.9%[16]. - The contribution from Jinke Group to the total revenue was 1% for the six months ended June 30, 2024, down from 3% in the same period of 2023[17]. - Revenue from smart technology services decreased to RMB 15,967 thousand from RMB 27,590 thousand year-over-year, a decline of 42.2%[16]. - The company reported a decrease in revenue from non-owner value-added services by approximately 56.5% to about RMB 37.0 million, primarily due to reduced service provision to real estate developers amid liquidity crises[48][49]. - Revenue from local life services declined by approximately 11.6% to about RMB 214.2 million, attributed to a weak consumption environment and increased competition[49]. - Revenue from community value-added services fell by approximately 19.1% to about RMB 129.5 million, driven by a shift from self-operated to platform models and reduced consumer demand[49]. - Revenue from digital technology services decreased by approximately 43.9% to about RMB 184 million in the first half of 2024, down from approximately RMB 328 million in the same period of 2023[69]. Expenses and Costs - Employee benefits expenses increased to RMB 985,754 thousand for the six months ended June 30, 2024, up from RMB 894,309 thousand in the same period of 2023, representing an increase of approximately 10.2%[19]. - Total service costs, sales and marketing expenses, and administrative expenses amounted to RMB 2,260,576 thousand for the six months ended June 30, 2024, compared to RMB 2,154,788 thousand in the same period of 2023, reflecting a rise of about 4.9%[19]. - Administrative expenses increased by approximately 20.6% to about RMB 304.3 million, driven by an increase in high-level employee numbers and travel expenses[76]. - The service cost increased by approximately 4.9% to about RMB 2,260.6 million for the six months ended June 30, 2024, compared to approximately RMB 2,154.8 million for the same period in 2023[70]. Assets and Liabilities - As of June 30, 2024, the company had cash and cash equivalents totaling RMB 2,952.9 million[2]. - The total assets as of June 30, 2024, were RMB 7,096.2 million, a decrease from RMB 7,657.3 million as of December 31, 2023[5]. - The total liabilities as of June 30, 2024, were RMB 3,228.5 million, down from RMB 3,560.1 million as of December 31, 2023[6]. - The company had a total of RMB 303,553 thousand in loans to related parties at the end of the reporting period, down from RMB 372,200 thousand at the beginning of the period[27]. - The company incurred a loss provision of RMB (79,383) thousand on loans to related parties for the six months ended June 30, 2024, compared to RMB (1,132,765) thousand in the same period of 2023[27]. - The total trade receivables, including related parties, amounted to RMB 3,043,352,000 as of June 30, 2024, with an impairment provision of RMB 1,535,098,000[30]. Strategic Focus and Market Position - The company maintained its position as a leading third-party integrated service provider in China, ranking in the top 10 for comprehensive strength and service scale for nine consecutive years[41]. - The property management industry is facing challenges such as shrinking incremental markets and intensified competition, but the company remains confident in the long-term prospects of the industry[42]. - The company plans to focus on enhancing service quality and regional density while improving brand image to capture opportunities in the existing market[43]. - The company emphasizes a strategy of "profitable revenue and cash flow" to ensure sustainable development amidst industry changes[41]. - The company is focusing on mergers and acquisitions in the property service sector, with a strong cash position to pursue opportunities in high-quality independent third-party properties[51]. Shareholder and Governance - The company declared no interim dividend for the six months ended June 30, 2024, consistent with the previous year[40]. - The company plans to increase the dividend payout ratio to no less than 60% to enhance shareholder returns[46]. - The company has completed a national strategic layout across 30 provinces and cities, managing a total of 918 residential projects and 361 non-residential projects[50]. - The company has not declared any interim dividends for the period, consistent with the previous year[96]. - The audit committee has been established to oversee financial reporting and internal control systems, ensuring compliance with corporate governance codes[97]. Future Outlook - The company plans to implement a "community grid" expansion strategy to target quality existing communities, aiming for effective scale growth through short-term investments[43]. - The group aims to strategically develop upstream and downstream services, with an investment of HKD 1,196.9 million planned by December 2024[89]. - The company will continue to explore share repurchase options based on market conditions, believing the current share price undervalues its intrinsic value[46].

Financial Performance - Total revenue for the year ended December 31, 2023, was RMB 4,979.7 million, a slight decrease from RMB 5,005.1 million in 2022[11]. - Gross profit for 2023 was RMB 928.2 million, with a gross margin of 18.6%, compared to RMB 943.2 million and 18.8% in 2022[11]. - The net loss for 2023 was RMB 981.7 million, improving from a net loss of RMB 1,839.9 million in 2022, resulting in a net loss margin of (19.7%) compared to (36.8%) in the previous year[11]. - Basic loss per share for 2023 was RMB (1.49), an improvement from RMB (2.80) in 2022[11]. - Total revenue for 2023 remained stable at approximately RMB 4,979.7 million, a slight decrease of 0.5% compared to RMB 5,005.1 million in 2022[46]. - Revenue from property management services increased by approximately 7.1% to RMB 3,936.7 million, driven by the addition of approximately 48.8 million square meters of managed area, totaling about 267.6 million square meters[46][50]. - Revenue from non-owner value-added services decreased by approximately 63.5% to RMB 155.4 million, primarily due to a significant reduction in service projects provided to real estate developers amid liquidity crises in the industry[46]. - Local living services revenue grew by approximately 5.3% to RMB 513.9 million, with meal service revenue increasing by approximately 73.8% to RMB 344.4 million[46]. - Community value-added services revenue decreased by approximately 4.7% to RMB 317.1 million, influenced by a shift to sustainable and cash flow-secured business models[48]. - Smart technology services revenue declined by approximately 31.6% to RMB 56.8 million, as the company reduced services provided to certain developers[48]. Assets and Equity - Total assets as of December 31, 2023, were RMB 7,657.3 million, down from RMB 8,356.8 million in 2022[12]. - Cash and cash equivalents at the end of 2023 were RMB 2,905.5 million, compared to RMB 3,069.8 million in 2022[12]. - Total equity decreased to RMB 4,097.2 million in 2023 from RMB 5,400.4 million in 2022[12]. Strategic Initiatives - The company aims to enhance its market expansion strategies and product development in the upcoming fiscal year[4]. - Future guidance indicates a focus on reducing net losses and improving profitability metrics[4]. - The company aims to transition to a "service + technology, service + ecology" development strategy, emphasizing high-quality and sustainable growth amidst industry challenges[39]. - The company plans to expand its service offerings by integrating hotel, catering, and tourism services to enhance consumer engagement and project acquisition[39]. - The company is committed to enhancing management efficiency and reducing costs through digital upgrades and intelligent automation[38]. Community and Social Responsibility - Jin Ke Service ranked in the top 10 of the "2023 China Property Service Hundred Enterprises" for the eighth consecutive year, also achieving second place in both "Satisfaction Leading Enterprises" and "Service Quality Leading" categories[21]. - The company provided comprehensive services for the 31st Summer Universiade in Chengdu, involving 500 employees over 137 days[28]. - In 2023, the company hosted nearly 10,000 community events, enhancing community harmony and engagement[38]. Human Resources - The company has approximately 12,955 employees as of December 31, 2023, an increase from 12,227 employees in the previous year[102]. - Employee costs recognized for the year amount to approximately RMB 1,938.2 million, compared to RMB 2,038.3 million for the previous year[102]. Governance and Compliance - The company has established an audit committee, a remuneration committee, a nomination committee, and an environmental, social, and governance committee to assist the board in fulfilling its duties[125]. - The company has adopted a code of conduct for securities trading, confirming compliance by all directors and relevant employees for the year ending December 31, 2023[117]. - The company recognizes the importance of good corporate governance elements in its management structure and internal control procedures to achieve effective accountability[118]. - The board consists of nine members, including one executive director, five non-executive directors, and three independent non-executive directors[123]. Risk Management - The group has implemented various risk management policies to identify, assess, manage, and monitor risks associated with its operations[163]. - The board reviews the effectiveness of the risk management and internal control systems at least annually, including financial, operational, and compliance controls[165]. - The company ensures strict accountability for individual employees to foster a strong compliance culture[163]. Shareholder Information - The company plans to distribute no cash dividends for the fiscal year 2023 due to negative distributable profits[180]. - The company held three shareholder meetings during the fiscal year, with all directors present either in person or via electronic means[175]. - The company’s articles of association were amended and approved by shareholders on October 13, 2023, reflecting compliance with new regulations[174].

2024年4月26日 公司研究 减值计提较为充分，现金流进一步改善 ——金科服务（9666.HK）跟踪报告 要点 增持（维持） 事件：公司在二级市场积极回购股份，2023年度归母净利润同比减亏。 当 前价：9.09港元 2023年，公司累计在资本市场回购2882.62万股股份，回购金额约2.66亿元； 截至4月25日，公司在2024年内合计回购54.5万股，回购金额约449万元。 作者 2023年公司实现收入49.8亿元，同比持平；毛利9.3亿元，同比减少 1.6%， 分析师：何缅南 毛利率18.6%，同比下降0.2pct；归母净利润为亏损9.5亿元，同比减亏。 执业证书编号：S0930518060006 021-52523801 点评：聚焦核心业务，优化在管项目组合，现金流改善，静待盈利企稳。 hemiannan@ebscn.com 1)聚焦核心业务，提升发展质量。经历外部经济环境变化、关联地产业务冲击和 股权结构调整，公司从过去高速增长转向高质量发展，聚焦核心业务。2023年， 联系人：韦勇强 021-52523810 物业管理/非业主增值/本地生活/社区增值/数智科技分别实现收入 weiyongqian ...

2024 年 3月 27日，公司发布 2023 年业绩：实现营收49.8 亿元， 同比-0.51%；实现归母净亏损 9.51 亿元，而 2022 年同期为归母 净亏损18.19 亿元。 23年业绩不及预期，24年卸下包袱轻装上阵。公司2023年营收 略低于预期，主要由于公司退出部分低效项目，在管面积增速下 降，导致物管服务收入增速放缓。归母净利润仍处于亏损状态， 主要由于公司考虑金科集团最新经营情况，再次对其未偿的应收 账款计提减值拨备。截至 2023 年末，金融资产减值亏损净额约 14.71 亿元。本次计提后，公司应收款项主要为第三方小业主的物 业费，因此2024 年公司业绩有望轻装上阵。 港币(元) 成交金额(百万元) 物业管理服务提质增效，收缴率提升。截至2023 年末，公司在管 14.00 70 面积2.68亿方，同比+5.14%；合约面积 3.51亿方，同比-2.49%。 13.00 60 12.00 50 2023 年公司为提升经营效率，优化物业组合，终止在管面积0.36 11.00 40 亿方，终止合约面积0.43 亿方，均较2022 年有所提升。2023 年 10.00 30 9.00 20 ...

Financial Performance - The total revenue for 2023 was approximately RMB 4,979.7 million, remaining stable compared to RMB 5,005.1 million in 2022[1] - The annual gross profit was approximately RMB 928.2 million, a slight decrease of about 1.6% from RMB 943.2 million in 2022, maintaining a gross margin of 18.6%[1] - The annual loss was approximately RMB 981.7 million, with a loss attributable to owners of approximately RMB 951.0 million[1] - The company reported a basic and diluted loss per share of RMB 1.49, compared to RMB 2.80 in 2022[2] - For the year ended December 31, 2023, total revenue reached RMB 4,979,741,000, a slight decrease from RMB 5,005,059,000 in 2022, representing a year-over-year decline of approximately 0.51%[16] - The company reported a loss attributable to owners of RMB 951,038,000 for the year ended December 31, 2023, compared to a loss of RMB 1,818,545,000 for the previous year, representing a 47.7% improvement[30] - Basic and diluted loss per share for the year ended December 31, 2023, was RMB 1.49, an improvement from RMB 2.80 in 2022, indicating a 46.8% reduction in losses per share[30] Revenue Breakdown - Revenue from property management services was approximately RMB 4,092.0 million, slightly down from RMB 4,101.2 million in 2022, with core property management services revenue increasing by about 7.1% to RMB 3,936.7 million[1] - Revenue from space property services was RMB 4,092,028,000, showing a marginal increase from RMB 4,088,782,000 in the previous year[16] - Local life services revenue increased significantly to RMB 64,879,000 from RMB 30,191,000, marking a growth of approximately 115.5%[16] - Community value-added services revenue rose to RMB 253,540,000, up from RMB 160,842,000, reflecting an increase of about 57.4%[16] - Revenue from local life services rose by approximately 5.3% to about RMB 513.9 million, primarily due to a 73.8% increase in meal service revenue to about RMB 344.4 million, while external meal supply chain services decreased by approximately 86.2% to about RMB 20.6 million[60] - Revenue from community value-added services decreased by approximately 4.7% to about RMB 317.1 million, attributed to a focus on sustainable and cash flow-secured businesses, leading to a decline in certain self-operated services[60] - Revenue from smart technology services decreased to RMB 44,980,000 from RMB 52,782,000, a decline of approximately 14.8%[16] Cash and Liquidity - As of December 31, 2023, the company had cash and cash equivalents of approximately RMB 2,905.5 million, with a net cash inflow from operating activities of approximately RMB 451.1 million during the year[1] - Cash and cash equivalents decreased to RMB 2,905,545,000 as of December 31, 2023, from RMB 3,069,784,000 in 2022, representing a decline of 5.3%[40] - The company had no borrowings as of December 31, 2023, maintaining a capital debt ratio of zero[97] Assets and Liabilities - The total assets decreased from RMB 8,356.8 million in 2022 to RMB 7,657.3 million in 2023[5] - The total liabilities increased from RMB 2,956.4 million in 2022 to RMB 3,560.1 million in 2023[7] - Trade receivables from third parties increased to RMB 2,235,628,000 as of December 31, 2023, up from RMB 1,916,515,000 in 2022, reflecting a growth of 16.7%[33] - The company recognized an impairment provision of RMB 1,369,516,000 against trade receivables as of December 31, 2023, compared to RMB 1,029,509,000 in 2022, marking a 33.1% increase in provisions[37] - The total current portion of trade receivables and other receivables was RMB 2,093,827,000 as of December 31, 2023, down from RMB 2,388,742,000 in 2022, reflecting a decrease of 12.3%[34] Shareholder Information - The board is unable to declare any final dividend for the year ended December 31, 2023, but aims to stabilize cash dividends in the future[2] - The company did not declare any dividends for the year ending December 31, 2023[52] - The company emphasizes the importance of shareholder returns and aims to balance performance with shareholder satisfaction[57] Strategic Focus and Future Outlook - The company aims to focus on high-quality development and sustainable growth amidst challenges in the real estate market, emphasizing a strategy of "service + ecology, service + technology"[54] - The company plans to enhance its business collection capabilities and aims for sustainable and healthy development in the property management sector[54] - The company is transitioning to an independent professional service provider, focusing on core business areas and high-quality service delivery[53] - The forecasted revenue growth rate for the company’s services is projected at 0.2% for the upcoming period, with a long-term growth rate of 2.2%[49] - The company plans to seek selective strategic investments and acquisitions, with approximately 56.3% of the net proceeds allocated for this purpose[101] Operational Efficiency - The company aims to enhance operational efficiency and reduce costs through digital technology and AI integration[57] - The company is exploring new growth models in community services and asset management to enhance customer engagement[56] - The company has shifted to a development model focusing on independent third-party growth, supplemented by Kincai Group, in response to market changes[65] Employee Information - The company has approximately 12,955 employees as of December 31, 2023, an increase from 12,227 employees in the previous year[105] - The total employee costs recognized for the year amount to approximately RMB 1,938.2 million, compared to RMB 2,038.3 million in the previous year[105]

Business Strategy and Development - The company emphasizes a customer satisfaction-oriented strategy, focusing on the "Service + Technology, Service + Ecology" development approach to enhance quality and scale [25]. - The company has established a differentiated product matrix covering high-end catering and large-scale mid-to-high-end group meals, enhancing synergy between property services and integrated facility management [25]. - The company is actively exploring scaled operations in branded dining, having launched the "Yuqian Dou Dou" hotpot brand, which has received multiple top ratings on various platforms [25]. - The company aims to strengthen resource and business collaboration across its core residential and enterprise services, accelerating the development of asset management, hotel catering, facility maintenance, and energy management products [25]. - The company aims to enhance its local life service capabilities, focusing on catering services, hotel management, and food supply chain services [31]. - The company plans to strengthen its community value-added service ecosystem, targeting high-profit and cash flow business models [31]. - The company will continue to implement a "street community grid" expansion strategy to enhance market development channels [29]. - The company emphasizes the integration of property services with catering and smart technology to provide comprehensive solutions [31]. - The company is focused on improving its operational efficiency through intelligent management systems to reduce costs and increase profitability [31]. - The company aims to consolidate its leading position in core markets along the Yangtze River and southwestern regions [29]. Market Position and Recognition - The company has been recognized as a leading enterprise in the Chinese property service industry, ranking in the top 10 for comprehensive strength and market expansion capabilities [21][23]. - The company has been recognized as a top 10 property service provider in China for eight consecutive years and maintains the leading market share in the western region for seven years [27]. - In 2023, the company was awarded the Top 5 in comprehensive strength and growth potential among listed property service companies in China [27]. Financial Performance - Total revenue for the six months ended June 30, 2023, was approximately RMB 2,464.8 million, a decrease of about 3.9% compared to RMB 2,565.3 million in the same period of 2022 [34]. - Revenue from space property services increased slightly by 0.2% to approximately RMB 2,029.9 million, driven by property management services which grew by approximately 10.8% to RMB 1,944.7 million [35]. - Non-owner value-added services revenue decreased significantly by approximately 68.6% to RMB 85.2 million, primarily due to the real estate industry's liquidity crisis [35]. - Revenue from local life services grew by approximately 10.5% to RMB 242.1 million, largely due to a significant increase in food service revenue, which surged by approximately 287.8% to RMB 159.4 million [37]. - Community value-added services revenue decreased by approximately 43.9% to RMB 160.0 million, impacted by a shift to high-growth, high-repayment-rate businesses [37]. - Revenue from digital technology services slightly decreased by approximately 5.9% to RMB 32.8 million, with non-related party revenue accounting for about 56.4% [37]. - The company's gross profit decreased by approximately 17.0% to about RMB 563.5 million, with the gross profit margin declining by 3.6 percentage points to approximately 22.9% [63]. - The gross profit from community value-added services dropped from approximately RMB 196.3 million to about RMB 92.4 million, with the gross profit margin decreasing from approximately 68.8% to about 57.7% [65]. - The company reported a significant decline in non-owner value-added service income, which fell to RMB 85.2 million in 2023 from RMB 271.4 million in 2022, a decrease of approximately 68.6% [52]. - The company reported a profit of RMB 189,479 thousand for the six months ended June 30, 2023, compared to a profit of RMB 357,233 thousand for the same period in 2022, representing a decline of 47.0% [122]. Operational Efficiency and Cost Management - The company is focusing on enhancing technological empowerment and cost reduction through smart equipment upgrades and digital transformation initiatives [33]. - The company aims to improve internal control systems and employee incentive mechanisms to promote sustainable development [33]. - The company continues to adapt to industry changes by reducing the number of projects provided to developers facing liquidity crises, focusing instead on cash flow and guaranteed returns [52]. - The company actively reduced low-margin external catering supply chain services, leading to a decrease in revenue from this segment to RMB 7.3 million, down from RMB 112.8 million in the previous year [56]. Acquisitions and Investments - The company completed the acquisition of Chengdu Shuchuan Property Service Co., enhancing management density in core regions [41]. - The company launched a "Residential Development Plan" targeting the stock market, acquiring 18 high-quality third-party residential projects in 2023 [39]. - The company has identified HKD 2,032.0 million (30.5%) for investments or acquisitions in property management companies that meet its quality standards by December 2025 [87]. - The company completed the acquisition of 51% of Sichuan Services and has a forward contract to purchase an additional 49% by January 2024, reflecting 100% economic interest in Sichuan Services [189]. - The total purchase consideration for acquiring 100% of Sichuan Services and New Oriental Services amounted to RMB 159,272,000, with identifiable net assets valued at RMB 77,469,000 [190]. Shareholder and Corporate Governance - The company is committed to enhancing its corporate governance practices and has adopted a corporate governance code [94]. - The audit committee has been established according to the corporate governance code, consisting of four members, including Mr. Liang Zhongtai and Ms. Yuan Lin [96]. - The company will issue further announcements regarding the appointment of independent non-executive directors as necessary [96]. - The company has confidence in its business outlook, as reflected in its share repurchase strategy [112]. - The company declared no interim dividend for the six months ended June 30, 2023, consistent with the previous year [188]. Market Challenges - The real estate market in China is facing significant challenges, with new home sales and development investments continuing to decline in the first half of 2023 [27]. - The company continues to monitor trade receivables and enhance risk control measures due to tight cash flow from major clients in the real estate sector [71].