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的內容概不 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的任何損失承擔任何責 任。 Times Neighborhood Holdings Limited 時 代 鄰 里 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：9928） 截至2022年12月31日止年度之業績公告 及 建議修訂組織章程大綱及細則 年度業績摘要 • 年度收入約為人民幣2,606.0百萬元，同比減幅約4.2%。 • 年度毛利約為人民幣555.9百萬元，同比減幅約25.1%。 • 年度淨虧損約為人民幣199.6百萬元。年度核心淨利潤（不包括非經常性開 支）約為人民幣162.1百萬元，同比減幅約54.6%。 • 截至2022年12月31日，物業管理服務總合約建築面積約為134.1百萬平方 ...

Financial Performance - Revenue for the six months ended June 30, 2022, was RMB 1,311,820, representing a 12.9% increase from RMB 1,162,141 in 2021[32] - Gross profit decreased by 14.9% to RMB 297,545 from RMB 349,683 in the previous year[32] - Profit attributable to owners of the parent for the period was RMB 31,222, down 79.6% from RMB 153,100 in 2021[32] - The total revenue from property management services for the first half of 2022 was approximately RMB 914.9 million, compared to RMB 730.5 million in the same period of 2021[77] - The total cost of sales increased by approximately RMB 201.8 million or 24.8% to approximately RMB 1,014.3 million for the six months ended June 30, 2022, compared to RMB 812.5 million for the same period in 2021[128] - The net profit decreased by approximately RMB 117.6 million or 70.5% to approximately RMB 49.2 million for the six months ended June 30, 2022, primarily due to decreased gross profit margins and impairment losses[155] Assets and Liabilities - Total assets as of June 30, 2022, were RMB 3,293,970, slightly up from RMB 3,268,735 at the end of 2021[32] - Total liabilities increased to RMB 1,353,585 from RMB 1,335,366 in the previous year[32] - Cash and bank balances decreased to RMB 660,821 from RMB 825,653 in 2021[32] - Total equity as of June 30, 2022, was RMB 1,940,385, compared to RMB 1,933,369 at the end of 2021[32] - Trade receivables increased by approximately RMB 165.7 million or 14.5% to approximately RMB 1,305.7 million as of June 30, 2022, consistent with income growth trends[163] - Prepayments, deposits, and other receivables increased by 11.1% to approximately RMB 300.2 million as of June 30, 2022, primarily due to business scale expansion[169] - Trade payables increased by approximately RMB 26.6 million or 4.7% to approximately RMB 596.0 million as of June 30, 2022, mainly due to business scale expansion[165] Market Presence and Expansion - The company is focusing on expanding its market presence and enhancing service offerings[31] - Times Neighborhood operates in 87 cities, enhancing its market presence and service coverage[52] - The company continues to focus on organic expansion to increase business scale and market share[54] - The company has been expanding its property management services in the Greater Bay Area for over 20 years, enhancing its competitive advantage in the region[67] - The company has diversified its property management portfolio, increasingly focusing on non-residential properties such as commercial buildings, government buildings, and hospitals[67] Revenue Streams - Revenue from residential property management for the first half of 2022 was approximately RMB 426.6 million, representing a 25.0% increase compared to RMB 341.2 million in the same period of 2021[72] - Revenue from managing properties developed by third-party developers increased by 31.2% from RMB 460.4 million in the first half of 2021 to RMB 604.1 million in the first half of 2022[81] - Community value-added services revenue rose by 12.7% to approximately RMB 200.9 million in the first half of 2022, up from RMB 178.2 million in the same period of 2021[89] - Revenue from resident services increased by 9.7% to approximately RMB 147.9 million in the first half of 2022 compared to the same period in 2021[90] - Revenue from value-added services to non-property owners decreased by 42.8% to approximately RMB 97.2 million in the first half of 2022, down from RMB 170.0 million in the same period of 2021[93] Strategic Initiatives - The company adheres to a core strategy of "4321" to strengthen its position in key urban areas and diversify its business offerings[46] - The Group aims to enhance brand effect and expand core areas through the "Starfire Plan" to improve management density in cities already entered[118] - The company is focusing on enhancing business strength and service quality to improve brand reputation and market competitiveness in response to industry challenges[109] - The Group will continue to focus on customer service and the essence of enterprise operations while fulfilling corporate responsibilities[119] Industry Trends and Challenges - The property management industry is experiencing a cooling in the mergers and acquisitions market, with a significant decrease in the number of large transactions in the first half of 2022[109] - The listing process of property companies slowed down in the first half of 2022, indicating a shift in the capital market dynamics for the industry[109] - The property management industry is expected to differentiate into various paths in terms of business models and enterprise forms, requiring a clear strategic direction for future development[117] Operational Efficiency - The overall gross profit margin decreased by 7.4 percentage points year on year to 22.7% for the six months ended June 30, 2022, primarily due to increased labor costs and changes in business structure[135] - The gross profit margin of property management services decreased by 4.0 percentage points due to increased labor costs from adjustments in employee compensation[136] - The gross profit margin of community value-added services decreased by 10.1 percentage points, attributed to strategic expansion leading to revenue growth but a decline in gross profit margin due to service portfolio adjustments[139] - The gross profit margin of value-added services to non-property owners decreased by 23.7 percentage points, primarily due to cyclical impacts on revenue and gross profit margin from China's real estate market[140] Cash Flow and Financial Position - As of June 30, 2022, the Group maintained a current ratio of 1.94 times, indicating a stable liquidity position[184] - The Group reported a net cash status with no outstanding interest-bearing borrowings as of June 30, 2022[184] - There were no significant contingent liabilities reported as of June 30, 2022[187] - The Group did not engage in any hedging activities for managing foreign exchange rate risk as of June 30, 2022[189] Corporate Governance - The Board did not recommend the payment of any interim dividend for the six months ended June 30, 2022[199] - There were no significant investments, acquisitions, or disposals of subsidiaries during the six months ended June 30, 2022[197] - The Group did not have any financial guarantees or pledged assets as of June 30, 2022[185][186] - The Group is closely monitoring RMB exchange rate fluctuations for potential hedging arrangements[189] - No significant events occurred after the six months ended June 30, 2022[198]

Business Expansion and Partnerships - Times Neighborhood launched the Neighborhood Services Pro APP, providing "one-stop" services for property owners, including property fee payment and house maintenance[8]. - Times Neighborhood opened four lease and sales centers in Foshan, marking its commitment to upgrading and deepening its market presence[14]. - The company entered into an equity cooperation with Hitachi Elevator to establish a new service ecosystem, enhancing its service quality[19]. - A cooperation agreement was signed with China Lesso Group to explore diversified property services in key urban areas[22]. - Times Neighborhood signed a partnership with Xiong Feng Group to enhance service quality through intelligent technology and value-added services[24]. - The company collaborated with Huamei International Education Group to improve school property services using digital and intelligent methods[28]. - The company partnered with GDleju Commercial Group to enhance regional business services, officially providing services for the GDleju Commercial Group Building[37]. Community Engagement and Environmental Initiatives - Times Neighborhood successfully held the first "Beauty Creation Festival," engaging over 300,000 families in community activities[31]. - The company initiated a series of low-carbon environmental activities, promoting carbon neutrality and sustainability within its communities[34]. - Times Neighborhood launched the "Carbon Reduction Convention of Times Community" to promote low-carbon initiatives across its communities in China[35]. - Times Neighborhood's efforts in environmental protection included community-based activities to promote carbon neutrality and low-carbon living[35]. - The company actively promoted the "National Green and Low-carbon Action" initiative, engaging in various community-based environmental protection activities[79]. Financial Performance and Growth - The company achieved a revenue of approximately RMB 2,719.7 million, reflecting a year-on-year growth of about 54.7%[71]. - Gross profit amounted to approximately RMB 742.1 million, with a year-on-year increase of around 39.8%[71]. - Community value-added service revenue was approximately RMB 547.1 million, showing a significant year-on-year growth of about 193.8%[71]. - The total contracted gross floor area (GFA) reached 132.0 million square meters, with 1,038 contracted projects as of December 31, 2021[69]. - The managed area successfully surpassed 100 million square meters, representing a year-on-year increase of approximately 53.3%[71]. - The company reported a significant increase in revenue, achieving a total of $1.2 billion for the fiscal year, representing a 15% year-over-year growth[137]. - Revenue for 2021 reached RMB 2,719,747, an increase of 54.7% compared to RMB 1,758,427 in 2020[100]. Recognition and Awards - The company was included in the Hang Seng Property Service and Management Index, reflecting its leading position in the Hong Kong market[12]. - Times Neighborhood was recognized as the 12th in the Top 100 Property Management Companies in China by the China Index Academy in 2021[40]. - Times Neighborhood was awarded as one of China's Top 15 Listed Property Management Companies in 2021 by the China Property Management Institute[44]. - The company was recognized as a leading enterprise in market expansion among listed property companies in China in 2021[44]. - Times Neighborhood was named a leading brand in professional operation of property management in 2021 by the China Index Academy[44]. - The company received accolades for its innovative property management solutions, being recognized as a Company with Property Innovation in 2021[44]. Management and Governance - The establishment of an Environmental, Social and Governance (ESG) committee was announced to guide the company's ESG management policies and strategies[79]. - The company has a diverse board with members possessing extensive experience in finance, law, and corporate governance[143]. - The independent non-executive directors are responsible for providing independent opinions on the group's operations and management[145]. - The board composition reflects a commitment to strong governance and oversight within the company[149]. - The company emphasizes the importance of independent directors in ensuring transparency and accountability in its operations[144]. Strategic Focus and Future Plans - The company is focusing on core business areas and actively expanding in key urban clusters[71]. - The company plans to focus on four core urban agglomerations: Guangdong-Hong Kong-Macao Greater Bay Area, Yangtze River Delta, Chengdu-Chongqing, and Central China[95]. - The company aims to enhance community-based value-added services through the establishment of "housing groups" and "resident groups"[96]. - The company will continue to invest in technology to optimize customer experience and improve operational efficiency[96]. - The company aims to diversify its business scope while increasing its market share through strategic investments and acquisitions[167]. Market Presence and Operations - The company has established a strong presence in the Guangdong-Hong Kong-Macao Greater Bay Area, being recognized as a leading enterprise in the property management market in that region[49]. - As of December 31, 2021, the company managed property services across 87 cities, with 901 property management projects and a total managed area of approximately 105.5 million sq.m.[166]. - The company has 137 contracted property management projects yet to be handed over, with an undelivered area of approximately 26.5 million sq.m.[166]. - The company continues to benefit from the rapid growth of Times China Group's real estate development business while expanding into independent third-party markets[183].

Financial Performance - Revenue for the six months ended June 30, 2021, was RMB 1,162,141,000, representing a 65.5% increase from RMB 701,952,000 in 2020[38]. - Gross profit for the same period was RMB 349,683,000, up 75.6% from RMB 199,099,000 in 2020[38]. - Profit attributable to owners of the Company for the period was RMB 153,100,000, an increase of 81.8% compared to RMB 84,174,000 in 2020[38]. - The Company reported a significant increase in profit for the period, which was RMB 166,760,000, reflecting a 98.1% increase from RMB 84,246,000 in 2020[38]. - Total revenue for the first half of 2021 was approximately RMB169.99 million, a decrease from RMB185.37 million in the same period of 2020[95]. - The Group's net profit for the six months ended June 30, 2021, was approximately RMB166.8 million, an increase of approximately RMB82.6 million or 98.1% compared to RMB84.2 million for the same period in 2020[164][169]. Assets and Liabilities - Total assets as of June 30, 2021, amounted to RMB 2,969,411,000, compared to RMB 2,648,951,000 as of December 31, 2020[38]. - Total liabilities increased to RMB 1,183,698,000 as of June 30, 2021, from RMB 887,254,000 at the end of 2020[38]. - Cash and bank balances were RMB 931,340,000 as of June 30, 2021, down from RMB 1,172,703,000 at the end of 2020[38]. - Total equity attributable to owners of the Company was RMB 1,785,713,000 as of June 30, 2021, compared to RMB 1,670,400,000 at the end of 2020[38]. - Trade receivables as of June 30, 2021, amounted to approximately RMB756.9 million, representing an increase of approximately RMB182.8 million or 31.8% from RMB574.1 million as of December 31, 2020[172][178]. - Trade payables as of June 30, 2021, were approximately RMB364.4 million, an increase of approximately RMB88.9 million or 32.3% from RMB275.5 million as of December 31, 2020, mainly due to business expansion[174][180]. - Other payables and accruals increased by approximately 21.2% to approximately RMB448.5 million as of June 30, 2021, from RMB370.1 million as of December 31, 2020, primarily due to the expansion of the Company's business scale[175][181]. Growth and Expansion - The Company continues to focus on market expansion and enhancing service offerings to drive future growth[37]. - New product development initiatives are underway to strengthen the Company's competitive position in the market[37]. - As of June 30, 2021, the total contracted GFA of property management projects was approximately 124.4 million sq.m., an increase of approximately 65.3% compared to the same period in 2020[47]. - The number of property management projects under management reached 814, covering a total GFA of approximately 97.9 million sq.m.[47]. - Times Neighborhood expanded its property management services to 75 cities, with 154 contracted property management projects yet to be handed over, covering an area of approximately 26.4 million sq.m.[51]. - The company achieved a significant increase in market share through organic expansion and strategic acquisitions in the first half of 2021[55]. Revenue Streams - Revenue from community value-added services for the six months ended June 30, 2021, was approximately RMB178.2 million, representing a year-on-year increase of approximately 249.4%[52]. - Revenue from property management services rose from RMB424.6 million in the first half of 2020 to RMB730.5 million in the first half of 2021, an increase of 72.0%[86]. - Revenue from managing properties developed by third-party property developers increased from RMB197.8 million in the first half of 2020 to RMB460.4 million in the first half of 2021, a growth of 132.5%[90]. - Revenue from resident services increased by 459.3% to approximately RMB134.8 million compared to the same period in 2020[109]. - Revenue from community value-added services increased by 249.4% to approximately RMB178.19 million compared to RMB50.96 million in the first half of 2020[105]. Strategic Initiatives - The Company aims to create a "Technology + Service" core platform for the entire life cycle, adhering to its "4321" core strategy[47]. - The company introduced approximately 100 brand partners to enhance its online and offline community economic ecosystem[52]. - The company aims to further increase value-added service revenue through the expansion of residential property management[81]. - The company aims to maintain strategic direction and pursue diversified development to ensure long-term stable growth amid increasing competition in the property management sector[116]. - The company recognizes the importance of adapting to changing political, economic, and social landscapes, which will significantly alter the property management industry[125]. Industry Trends and Challenges - The property management industry is experiencing increased consolidation, with acquisition amounts surpassing the previous year's total in the first half of 2021[116]. - The property management industry is expected to face increasing competition as more companies go public and industry concentration rises, necessitating differentiated development strategies[134]. - The government has introduced favorable policies for the property management industry, emphasizing the integration of property services into grassroots governance and the promotion of a "property service + life service" model[120]. - The government’s focus on urban governance and community-level management is expected to enhance the role of property management companies in contributing to new urbanization efforts[133].

Financial Performance - The Group's revenue for the year ended December 31, 2020, was approximately RMB 1,758.4 million, representing a year-on-year increase of approximately 62.6%[52]. - Gross profit for the same period was approximately RMB 531.0 million, with a year-on-year increase of approximately 73.9%, resulting in a gross profit margin of approximately 30.2%, up by 2.0 percentage points[55]. - Core net profit attributable to owners of the parent was approximately RMB 232.6 million, reflecting a year-on-year increase of approximately 93.7%[55]. - Total assets reached RMB 2,648,951,000, a significant increase from RMB 1,500,942,000 in the previous year[85]. - Total equity attributable to owners of the Company grew to RMB 1,720,333,000, compared to RMB 895,992,000 in 2019[85]. - Revenue increased by 62.6% to RMB 1,758,427,000 compared to RMB 1,081,341,000 in the previous year[85]. - Gross profit rose by 73.9% to RMB 531,048,000 from RMB 305,297,000 year-on-year[85]. - Core net profit attributable to owners of the Company surged by 141.5% to RMB 232,606,000, up from RMB 96,313,000[85]. - Net profit margin increased to 13.5%, compared to 8.8% in the previous year[85]. - Basic and diluted earnings per share rose to 25 RMB cents, up from 13 RMB cents year-on-year[85]. Market Expansion and Acquisitions - The company acquired 51% equity interest in Shanghai Kejian Property Services Co., Ltd., entering the industrial logistics real estate property management sector[7]. - The company signed an equity transfer agreement to acquire 49% of Chengdu Holytech Technology Co., Ltd., expanding its market share in Southwest China[10]. - The Group successfully acquired Guangzhou Haoqing Property Management Co., Ltd. and Guangzhou Yaocheng Property Management Co., Ltd., and entered the electricity property management sector by acquiring 51% of Shanghai Kejian Property Services Co., Ltd.[60]. - The company expanded into cities including Suzhou, Chongqing, Wuhan, Chengdu, Nanjing, Zhengzhou, Ningbo, Shenyang, Wuxi, Huzhou, Langfang, and Nanning in 2020[165]. - The company is expanding into independent third-party markets, achieving rapid growth in GFA obtained from this expansion[191]. Recognition and Awards - Times Neighborhood Holdings Limited was recognized as one of the Top 100 Property Management Companies in China for 2020[13]. - The company was awarded for its quality service and investment value in the property management sector in 2020[14]. - Times Neighborhood Holdings Limited ranked 12th in the Top 100 Property Management Companies in China in 2020[16]. - The company was recognized as one of the Top 5 Leading Enterprises in Urban Property Management in China by CIA[16]. - Times Neighborhood Holdings Limited was listed among the Top 10 Listed Property Management Companies in Terms of Overall Strength in China[16]. - The Group was recognized as the 12th among China's top 100 property service companies by China Index Academy, reflecting its comprehensive strength in the industry[63]. - The Group was recognized as one of the Top 5 Excellent Listed Property Management Enterprises with Investment Value in China[16]. - The company was acknowledged in the Top 100 Property Management Companies in Terms of Brand Value in 2020[21]. - The company was recognized as a leading enterprise in terms of quality property management in 2020[21]. Strategic Initiatives - The company established a "5G + Future Community Joint Laboratory" with Alibaba and China Mobile, aiming to develop future community solutions[8]. - Times Neighborhood Holdings Limited reached strategic cooperation with Nehe City and Fufeng County, marking a transition to comprehensive city management services[10]. - The Group aims to expand its management scale horizontally and enhance value-added services vertically under the "4321" core strategy[66]. - The Group plans to deepen its presence in four core urban agglomerations: the Greater Bay Area, Yangtze River Delta, Chengyu region, and Central China[67]. - A core platform of "Technology + Service" will be established to digitize and standardize business processes, enhancing customer experience[73]. - The Group anticipates steady growth in the property service management industry, driven by increasing service demand and digital transformation[79]. - The Group's first Three-year Plan will focus on high-quality and sustainable growth, aiming to provide better services across China[80]. Property Management and Services - The total number of projects under management reached 527, with a total contracted GFA of 111.6 million sq.m., an increase of 92.4% compared to the previous year[59]. - The total GFA under management was 98.7 million sq.m., including 518 property management service projects with a total GFA exceeding 68.8 million sq.m.[59]. - Revenue from community value-added services was approximately RMB 186.2 million, representing a year-on-year increase of approximately 135.1%[61]. - The company’s main business includes property management services, value-added services to non-property owners, community value-added services, and other professional services, covering the entire property management value chain[163]. - The company provided property management services and value-added services for 17 urban redevelopment projects as of December 31, 2020[200]. - Revenue from urban redevelopment project services increased from RMB 7,922 thousand in 2019 to RMB 35,145 thousand in 2020, a growth of 344.5%[199]. Leadership and Management - The company has a strong leadership team with extensive experience in property management and financial oversight, enhancing operational efficiency[118]. - The financial management team has a robust background in auditing and financial reporting, ensuring compliance and accuracy in financial statements[121]. - The leadership team is focused on integrating strategic business resources to drive overall development and project management[124]. - Ms. Xie Rao has been recognized as one of "China's Top 100 Property Managers in 2020" and "China's Top 50 Property Managers in Greater Bay Area in 2020" by Leju Finance[115]. - Ms. Zhou Rui has been serving as the general manager of the financial management center since August 2019, overseeing financial management and internal control[120]. - Mr. Bai Xihong has been with Times China Group since May 2001, currently serving as the chairman of the strategic and resources management committee[124]. Stock Market Performance - Times Neighborhood Holdings Limited was admitted as a constituent stock of the MSCI China Small Cap Index[7]. - The company was included in the Hang Seng Composite Index and Hang Seng Stock Connect Hong Kong Index Series[9]. - The Group's stock was included in the Hang Seng Composite Index and MSCI China Small Cap Index, indicating strong performance in the capital market[63]. - The Group's shares were also included in the Hang Seng Stock Connect Hong Kong Index and other related indices, indicating a broader market presence[93]. Growth in Non-Residential Properties - Non-residential properties accounted for 67.6% of the total GFA under management in 2020, with revenue from these properties rising to 50.5% of total revenue[188]. - The GFA of non-residential properties under management increased from approximately 24.1 million sq.m. in 2019 to approximately 46.5 million sq.m. in 2020[188]. - The proportion of revenue generated from managing non-residential properties increased from 39.1% in 2019 to 50.5% in 2020[189]. - Revenue from managing properties developed by third-party property developers increased from approximately RMB 296.1 million in 2019 to approximately RMB 517.5 million in 2020, a growth of 74.6%[194].

Financial Performance - Revenue for the six months ended June 30, 2020, was RMB 701,952,000, representing a 54.0% increase from RMB 455,719,000 in 2019[22] - Gross profit for the same period was RMB 199,099,000, a 62.4% increase compared to RMB 122,554,000 in 2019[22] - Profit attributable to owners of the Company for the period was RMB 84,174,000, up 99.4% from RMB 42,214,000 in 2019[22] - Core net profit attributable to owners of the Company (excluding listing expenses) was RMB 84,174,000, reflecting a 76.2% increase from RMB 47,778,000 in 2019[22] - Revenue from property management services reached RMB 424,631 thousand in the first half of 2020, compared to RMB 295,828 thousand in the first half of 2019, representing a significant growth[68] - Revenue from value-added services to non-property owners surged by 63.8% to approximately RMB 191,589 thousand in the first half of 2020, up from RMB 116,985 thousand in the same period of 2019[74] - Revenue from managing non-residential properties increased from RMB 111,812 thousand in the first half of 2019 to RMB 187,407 thousand in the first half of 2020, accounting for 44.1% of total revenue[68] - Revenue from community value-added services increased by 41.5% to approximately RMB 44.7 million in the first half of 2020, compared to RMB 31.6 million in the same period of 2019[84] - Revenue from other professional services reached RMB 40.99 million in the first half of 2020, a significant increase from RMB 11.34 million in the same period of 2019[88] - The company reported a net profit margin of 12%, up from 10% in the previous year, indicating improved operational efficiency[200] Assets and Liabilities - Total assets as of June 30, 2020, were RMB 1,694,680,000, compared to RMB 1,500,942,000 as of December 31, 2019[22] - Total liabilities as of June 30, 2020, were RMB 733,119,000, an increase from RMB 601,711,000 as of December 31, 2019[22] - Cash and bank balances as of June 30, 2020, were RMB 979,487,000, slightly up from RMB 974,747,000 as of December 31, 2019[22] - Trade receivables amounted to approximately RMB351.8 million as at 30 June 2020, representing an increase of approximately RMB138.3 million or 64.8% compared to approximately RMB213.5 million as at 31 December 2019[158] - Trade payables increased by approximately RMB63.8 million or 52.3% to approximately RMB185.9 million as at 30 June 2020 compared to approximately RMB122.1 million as at 31 December 2019[160] - Other payables and accruals increased by 26.1% from RMB242.9 million as of 31 December 2019 to RMB306.3 million as of 30 June 2020[161] - The Group's current ratio was 1.99 times as at 30 June 2020, down from 2.15 times as at 31 December 2019[173] Business Expansion and Acquisitions - The Group successfully acquired Guangzhou Haoqing Property Management Co., Ltd. and Guangzhou Yaocheng Property Management Co., Ltd., and entered into an agreement to acquire 51% of Shanghai Kejian Property Services Co., Ltd.[34] - The company acquired businesses through the acquisition of Guangzhou Haoqing and Guangzhou Yaocheng, and signed an equity transfer agreement for a 51% stake in Shanghai Kejian in the first half of 2020[47]. - The company is exploring potential acquisitions to strengthen its market position, with a budget of $100 million allocated for this purpose[200] - The company aims to further expand its portfolio of properties under management and grow its customer base through strategic acquisitions and business cooperation[71] Market Presence and Strategy - Times Neighborhood Holdings Limited was recognized as the 12th in the Top 100 Property Management Companies in China in terms of overall strength by China Index Academy in the first half of 2020[29] - The Group's strategic development focuses on expanding its presence in the Greater Bay Area and other regions such as Suzhou, Chongqing, and Wuhan[32] - The Greater Bay Area accounted for approximately 40.8 million sq.m. of the GFA under management, which is 84.3% of the total GFA under management[57] - The company has been deeply rooted in the Greater Bay Area for over 20 years, continuously expanding its property management scope in the region[57] - The company plans to accelerate management scale expansion and enhance regional management density, particularly in high-growth areas such as East China and the Greater Bay Area[101] Operational Efficiency and Technology - The focus will be on improving service quality through technology to reduce costs and enhance efficiency, which remains a core objective for property management enterprises[103] - The company aims to establish differentiated business lines and service systems in both residential and non-residential sectors to enhance brand recognition and owner satisfaction[110] - The company aims to enhance service quality and efficiency through the establishment of a "5G+Future Joint Lab for the Community" in collaboration with Alibaba and Guangdong Mobile[37] - The gross profit margin for property management services increased by 2.2 percentage points, attributed to successful cost-control measures and the adoption of technology[135] Employee and Workforce - The group had 8,949 employees as of June 30, 2020, an increase from 7,890 employees on June 30, 2019[198] Future Outlook - The company provided a future outlook with a revenue guidance of $1.2 billion for the full year, reflecting an expected growth of 20%[200] - Overall, the company remains optimistic about achieving its strategic goals amidst market challenges[200]

Times Neighborhood Holdings Limited 時代鄰里控股有限公司 ANNUAL REPORT 2019 年年報 TIMES NEIGHBORHOOD HOLDINGS LIMITED 時 代 鄰 里 控 股 有 限 公 司 (Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立的有限公司） Stock Code 股份代號：9928 ANNUAL REPORT 2019 年年報 LET MORE PEOPLE ENJOY A BETTER LIFE 讓更多人享受美好生活 目 錄 Contents 公司大事紀要2 Corporate Milestones 獨立核數師報告 139 Independent Auditor's Report 所獲獎項3 Awards Won 綜合損益表 147 Consolidated Statement of Profit or Loss 公司資料7 Corporate Information 綜合全面收入表 148 Consolidated Statement of C ...