Investment Rating - The report assigns a "Buy" rating for the company with a target price of 2.40 CNY, indicating a potential upside from the current price of 1.90 CNY [44][54]. Core Insights - The company has shown a steady revenue growth of 3.6% in 2023, achieving a total revenue of 12.09 billion CNY, despite facing a net loss of 850 million CNY due to non-operational and one-time factors [37][44]. - The company is focusing on digital transformation, with significant increases in R&D investment, reaching 40.1 million CNY in 2023, which has enhanced operational efficiency and customer engagement [54][6]. - The asset management business has demonstrated strong performance, with revenue growth of 1.9% in 2023, and a stable rental rate of 96.4% [46][3]. Summary by Sections 1. Business Performance - The company achieved a revenue of 12.09 billion CNY in 2023, with a CAGR of 2.5% from 2018 to 2023 [37]. - The brokerage business revenue increased by 15.9% to 4.09 billion CNY in 2023, with a gross margin improvement of 3.4 percentage points to 20.2% [45]. - The asset management segment reported a revenue of 5.76 billion CNY, with a total transaction value (GTV) of approximately 169 billion CNY [46]. 2. Financial Metrics - The company’s operating cash flow was robust, amounting to 4.67 billion CNY in 2023, reflecting an 8.4% year-on-year increase [39][44]. - The asset-liability ratio stood at 70.5% by the end of 2023, indicating a stable financial condition [39][44]. - The gross margin improved to 9.5% in 2023, showing signs of recovery as the industry stabilizes [39][44]. 3. Digital Transformation - The company has significantly increased its R&D spending, which has facilitated a comprehensive upgrade in service delivery through digital solutions [54][6]. - The proportion of mobile users has risen, with online listings accounting for 14.5% of total transactions in 2023 [54][6]. 4. Market Position - The company has maintained a strong market presence, particularly in core cities, with a market share increase in Shanghai [45]. - The total number of operational stores decreased to 2,853 in 2023, with a focus on enhancing the efficiency of direct operations [61].

证券代码：000560 证券简称：我爱我家 公告编号：2024-030 号 我爱我家控股集团股份有限公司 股票交易异常波动公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、股票交易异常波动情况介绍 我爱我家控股集团股份有限公司（以下简称"本公司"或"公司"）股票（股 票简称"我爱我家"，证券代码：000560）于 2024 年 4 月 26 日、4 月 29 日、4 月 30 日连续 3 个交易日收盘价格涨幅偏离值累计超过 20%，根据《深圳证券交 易所交易规则》的相关规定，属于股票交易异常波动情形。 二、公司关注、核实情况说明 针对公司股票交易异常波动情况，公司对有关事项进行了核查，现将有关情 况说明如下： 1.公司前期所披露的信息不存在需要更正、补充之处； 2.公司未发现近期公共传媒报道了可能或已经对公司股票交易价格产生较 大影响的未公开重大信息； 3.近段时间，公司所处行业的政策环境呈现改善趋势，部分城市先后优化或 解除房屋交易限购措施。3 月 14 日，杭州市房地产市场平稳健康发展领导小组 办公室发布《关于进一步优化房地产市场调控措施的通知》， ...

Investment Rating - The investment rating for the company is upgraded to "Outperform" [2][7]. Core Views - The company is facing performance pressure but is focusing on its core business through various measures [7]. - The brokerage and rental business have shown resilience, while the new housing business has seen a decline in revenue [4][7]. - The company reported a significant increase in losses due to non-operational factors, but asset optimization efforts are expected to improve profitability [8]. Financial Performance Summary - In 2023, the company achieved revenue of 12.09 billion yuan, a year-on-year increase of 3.6%, but reported a net loss of 848 million yuan, a decline of 173.9% [7][9]. - For Q1 2024, revenue was 2.75 billion yuan, down 12.6% year-on-year, with a net profit of 30 million yuan, a decrease of 51.0% [7][9]. - The brokerage business generated revenue of 4.09 billion yuan in 2023, up 15.9% year-on-year, with a gross margin of 20.2% [4][9]. - The rental business (property management) had revenue of 5.76 billion yuan, a 1.9% increase year-on-year, with an adjusted gross margin of 13.3% [4][9]. - The new housing business saw revenue drop to 1.11 billion yuan, a decline of 12.6% year-on-year [4][9]. Future Earnings Forecast - The company’s net profit forecasts for 2024, 2025, and 2026 are 120 million yuan, 210 million yuan, and 330 million yuan respectively [7][9]. - The expected earnings per share (EPS) for the same years are 0.05 yuan, 0.09 yuan, and 0.14 yuan [7][9]. - The current price-to-earnings (P/E) ratios are projected to be 34.0, 19.2, and 12.4 for 2024, 2025, and 2026 respectively [7][9].

证券代码：000560 证券简称：我爱我家 公告编号：2024-029 号 我爱我家控股集团股份有限公司 关于控股股东部分股份质押的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 我爱我家控股集团股份有限公司（以下简称"公司"）于近日接到控股股东 西藏太和先机投资管理有限公司（以下简称"太和先机"）的通知，获悉其所持 公司部分股份办理了质押，具体事项如下： | 股东名称 | 是否为控股 股东或第一 | 本次质押股份 | 占其所持 股份比例 | 占公司总 股本比例 | 是否为 | 是否为 补充质 | 质押起 | 质押到 | 质权人 | 质押 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 大股东及其 一致行动人 | 数量（股） | （%） | （%） | 限售股 | 押 | 始日 | 期日 | | 用途 | | 西藏太和先 机投资管理 | 是 | 30,100,000 | 7.32 | 1.28 | 否 | 是 | 2024 年 4 月 24 日 | 办理解 ...

关于我爱我家控股集团股份有限公司 非经营性资金占用及 其他关联资金往来情况 汇总表的专项审核报告 众环专字(2024)1600075号 目 录 起始页码 专项审核报告 1-2 汇总表 非经营性资金占用及其他关联资金往来的情况汇总表 1 关于我爱我家控股集团股份有限公司 非经营性资金占用及其他关联资金往来情况汇总表 的专项审核报告 众环专字(2024)1600075 号 我爱我家控股集团股份有限公司全体股东: 我们接受委托,在审计了我爱我家控股集团股份有限公司(以下简称"我爱我家")2023年12 月 31 日合并及公司的资产负债表,2023年度合并及公司的利润表、合并及公司的现金流量表和 合并及公司的股东权益变动表以及财务报表附注的基础上,对后附的《上市公司 2023年度非经 营性资金占用及其他关联资金往来的情况汇总表》(以下简称"汇总表")进行了专项审核。按照 中国证券监督管理委员会印发的《上市公司监管指引第 8 号 -- 上市公司资金往来、对外担保的 监管要求》的规定,编制和披露汇总表、提供真实、合法、完整的审核证据是我爱我家管理层 的责任,我们的责任是在执行审核工作的基础上对汇总表发表专项审核意见。 我 ...

董事会关于独立董事独立性自查情况的专项报告 根据中国证券监督管理委员会《上市公司独立董事管理办法》《深圳证券交 易所股票上市规则》《深圳证券交易所上市公司自律监管指引第1号——主板上 市公司规范运作》等要求，我爱我家控股集团股份有限公司（以下简称"公司"） 董事会，就公司在任独立董事陈苏勤、常明、陈立平的独立性情况进行评估并出 具如下专项意见： 经核查独立董事陈苏勤、常明、陈立平的任职经历以及签署的相关自查文件， 上述人员未在公司担任除独立董事以外的任何职务，也未在公司主要股东公司担 任任何职务，与公司以及主要股东之间不存在直接或者间接利害关系，或其他可 能影响其进行独立客观判断的关系，不存在影响独立董事独立性的情况。 公司独立董事符合《上市公司独立董事管理办法》《深圳证券交易所上市公 司自律监管指引第1号——主板上市公司规范运作》中对独立董事独立性的相关 要求。 我爱我家控股集团股份有限公司 董 事 会 2024年4月24日 我爱我家控股集团股份有限公司 1 ...

证券代码：000560 证券简称：我爱我家 公告编号：2024-023 号 我爱我家控股集团股份有限公司 关于使用部分自有资金进行证券及理财产品投资的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 我爱我家控股集团股份有限公司（以下简称"本公司"或"公司"）及下属 子公司目前可用于进行证券及理财产品投资的自有闲置资金投资总额度为 330,000 万元，投资期限自公司 2022 年年度股东大会审议通过该投资额度之日 起 12 个月内有效。 在上述 330,000 万元证券及理财产品投资额度到期后，公司及下属子公司拟 继续使用自有闲置资金进行证券及理财产品投资，投资总额度为不超过 330,000 万元，投资期限自公司 2023 年年度股东大会审议通过该投资额度之日起 12 个月 内有效，公司及子公司在该额度及期限范围内可循环滚动使用。具体情况如下： 一、证券及理财产品投资情况概述 1.投资目的 结合公司业务发展及自有资金使用的具体情况，为提升公司及下属子公司的 自有闲置资金的使用效率，合理利用自有闲置资金，增加资金收益，为公司及股 东谋求更多投资回报，根据《 ...

我爱我家控股集团股份有限公司 审 计 报 告 众环审字(2024)1600133号 目 录 | | 起始页码 | | --- | --- | | 审计报告 | 1-5 | | 财务报表 | | | 合并资产负债表 | 1-2 | | 合并利润表 | 3 | | 合并现金流量表 | 4 | | 合并股东权益变动表 | 5-6 | | 资产负债表 | 7-8 | | 利润表 | 9 | | 现金流量表 | 10 | | 股东权益变动表 | 11-12 | | 财务报表附注 | 13-112 | No 166 Zhongbei Road Wuhan 43007 审计报告 众环审字(2024)1600133 号 我爱我家控股集团股份有限公司全体股东: 一、审计意见 我们审计了我爱我家控股集团股份有限公司(以下简称"我爱我家")财务报表,包括 2023年 12 月 31 日的合并及公司资产负债表,2023年度的合并及公司利润表、合并及公司现金流量表、合 并及公司股东权益变动表以及相关财务报表附注。 二、形成审计意见的基础 我们按照中国注册会计师审计准则的规定执行了审计工作。审计报告的"注册会计师对财务 报表审计的责任" ...

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the fiscal year 2023, representing a year-over-year increase of 15%[16]. - The company's operating revenue for 2023 was approximately ¥12.09 billion, representing a 3.58% increase compared to ¥11.67 billion in 2022[24]. - The net profit attributable to shareholders was a loss of approximately ¥848.29 million, a decline of 173.91% from a loss of ¥305.98 million in 2022[24]. - The net profit after deducting non-recurring gains and losses was approximately ¥752.12 million, a decrease of 133.80% compared to a loss of ¥317.98 million in 2022[24]. - The net cash flow from operating activities increased by 8.40% to approximately ¥4.67 billion, up from ¥4.31 billion in 2022[24]. - The total assets of the company reached RMB 5 billion, reflecting a 12% increase compared to the previous year[16]. - The total assets at the end of 2023 were approximately ¥32.38 billion, a decrease of 0.50% from ¥32.64 billion at the end of 2022[26]. - The net assets attributable to shareholders decreased by 7.97% to approximately ¥9.47 billion, down from ¥10.30 billion at the end of 2022[26]. - The company reported a basic earnings per share of -¥0.3601 for 2023, compared to -¥0.1299 in 2022, reflecting a decline of 173.84%[24]. - The company reported a net profit margin of 12%, up from 10% in the previous year, indicating improved operational efficiency[186]. User Growth and Market Expansion - User data indicates a growth in active users to 5 million, up from 4 million in the previous year, marking a 25% increase[16]. - The company has set a revenue guidance for 2024, projecting a growth rate of 10% to 15%[16]. - New product launches are expected to contribute an additional RMB 200 million in revenue in 2024[16]. - The company plans to expand its market presence in three new cities by the end of 2024, aiming for a 20% increase in market share[16]. - The company is considering strategic acquisitions to enhance its service offerings, with a target of identifying two potential companies by Q2 2024[186]. Research and Development - Research and development expenses increased by 30% to RMB 150 million, focusing on technology enhancements and new service offerings[16]. - The company is investing heavily in technology development, with a budget allocation of 50 million for R&D in 2024[186]. - R&D investment increased by 75.26% to ¥166,560,388.06, representing 1.38% of operating revenue[96]. Risks and Challenges - The management highlighted potential risks including market competition and regulatory changes, with strategies in place to mitigate these risks[6]. - The company has indicated uncertainty regarding its ability to continue as a going concern, as reflected in the audit report for the last year[27]. - The company faces market risks due to unstable economic recovery and potential policy risks affecting the second-hand housing market[121]. Real Estate Market Insights - The real estate investment in China decreased by 9.6% year-on-year in 2023, with the sales area of commercial housing also declining by 8.5%[38]. - The average sales price index of second-hand residential properties in 70 large and medium-sized cities dropped by 4.1% in December 2023 compared to the same period in 2022[41]. - The transaction volume of second-hand housing in major cities increased significantly, with Beijing, Shanghai, Guangzhou, and Shenzhen seeing year-on-year growth rates of 9.3%, 13.4%, 31.9%, and 58.3% respectively[41]. - The company anticipates that the second-hand housing market will shift from "increased volume and decreased price" in 2023 to "increased volume and stable price" in 2024[43]. - The total transaction scale of the domestic second-hand housing market in 2023 is expected to be around 7 trillion, with projections to exceed 10 trillion by 2030[43]. Corporate Governance and Management - The company has improved its corporate governance and internal control systems, revising several key regulations to support high-quality development[139]. - The board of directors consists of 9 members, including 3 independent directors, and has established 4 specialized committees to enhance decision-making[143]. - The company has established a robust information disclosure system, ensuring timely and fair access to information for all investors[149]. - The company has engaged in over 200 investor interactions, maintaining a 100% response rate to investor inquiries through various communication channels[130]. - The company is committed to enhancing its corporate governance structure and protecting the rights of all shareholders, especially minority shareholders[198]. Digital Transformation and Innovation - The company has expanded its digital capabilities, enhancing service standardization and efficiency through various platforms, including AI and big data[60]. - The company is actively pursuing digital transformation strategies to enhance operational efficiency and customer engagement[135]. - The company plans to continue investing in digital infrastructure to support its long-term growth objectives[131]. - The company is focusing on upgrading its brand strategy to enhance competitiveness within the industry[131]. Financial Management and Remuneration - The total remuneration for all directors, supervisors, and senior management during the reporting period amounts to 1,042.08 million CNY[190]. - The company has established a remuneration and assessment committee to manage the remuneration levels of the board and senior management[188]. - The remuneration for internal non-independent directors and senior management is based on a fixed monthly salary, with quarterly and annual performance bonuses calculated after performance assessments[188]. - The company plans to use part of its own funds for investments in securities and financial products[198].

我爱我家控股集团股份有限公司 董事会审计委员会对会计师事务所 2023 年度履职情况评估 及履行监督职责情况的报告 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司治理 准则》《国有企业、上市公司选聘会计师事务所管理办法》《深圳证券交易所上 市公司自律监管指引第1号——主板上市公司规范运作》和我爱我家控股集团股 份有限公司（以下简称"公司"）的《公司章程》《董事会专门委员会议事规则》 等规定和要求，董事会审计委员会本着勤勉尽责的原则，恪尽职守，认真履职。 现将董事会审计委员会对会计师事务所2023年度履职评估及履行监督职责的情 况汇报如下： 一、2023年年审会计师事务所基本情况 （一）会计师事务所基本情况 1.机构名称：中审众环会计师事务所（特殊普通合伙） 2.成立日期：中审众环会计师事务所（特殊普通合伙）（以下简称"中审众 环"）始创于1987年，是全国首批取得国家批准具有从事证券、期货相关业务资 格及金融业务审计资格的大型会计师事务所之一。根据财政部、证监会发布的从 事证券服务业务会计师事务所备案名单，中审众环具备股份有限公司发行股份、 债券审计机构的资格。2013年11月，按照国家财政部 ...