Core Viewpoint - The company aims to become a leading property asset management operator in China, focusing on a diversified business model that includes property management, asset management, and various value-added services [2][10]. Company Overview - The company operates under the umbrella of China Merchants Group, emphasizing a development strategy characterized by "lightweight, scalable, technological, and market-oriented" principles [2]. - The main business segments include property management, asset management, and other services, with a focus on providing comprehensive solutions across various scenarios [2]. Property Management Business - The property management segment serves diverse sectors, including residential, commercial, and urban services, covering over 160 cities in China [3]. - The service offerings are categorized into basic property management, platform value-added services, and professional value-added services, with a focus on enhancing service quality through standardization and platform operations [3][4]. Asset Management Business - The asset management segment primarily involves commercial operations and leasing of owned properties, including hotels and office spaces [7][8]. - The company provides consulting services during the development and operational phases of commercial real estate projects [7]. Financial Performance - In 2024, the company achieved a revenue of 17.172 billion yuan, a year-on-year increase of 9.89%, with property management revenue at 16.487 billion yuan, up 11.72% [13]. - The net profit attributable to shareholders was 840 million yuan, reflecting a growth of 14.24% [13]. Business Development - The company managed 2,296 projects by the end of 2024, with a total managed area of 36.5 million square meters, and signed new contracts worth 4.029 billion yuan [14]. - The company has successfully expanded its market presence, particularly in non-residential sectors, achieving significant contract growth in healthcare and transportation [15][16]. Value-Added Services - The platform value-added services have seen substantial growth, with a transaction volume exceeding 1.1 billion yuan, driven by digital upgrades and high customer retention rates [17]. - The company has also expanded its professional value-added services, including real estate brokerage and smart energy solutions, enhancing its competitive edge [18]. Management and Operational Efficiency - The company has implemented a comprehensive management system aimed at optimizing resource allocation and improving operational efficiency [21]. - A focus on service quality has led to high customer satisfaction rates, with the company recognized as a top performer in the property service industry [22]. Technological Advancements - The company is advancing its digital transformation by integrating AI and smart technologies into its service offerings, enhancing operational efficiency and customer experience [23]. Brand and Cultural Development - The company has strengthened its brand value through cultural initiatives and media engagement, achieving recognition as one of the top property service enterprises in China [24].

Financial Performance - The company's operating revenue for 2024 reached ¥17,172,299,022.77, representing a 9.89% increase compared to ¥15,626,679,038.60 in 2023[6]. - Net profit attributable to shareholders for 2024 was ¥840,498,776.86, a 14.24% increase from ¥735,729,811.25 in 2023[6]. - The net profit after deducting non-recurring gains and losses was ¥798,836,393.11, up 21.12% from ¥659,540,078.25 in 2023[6]. - The net cash flow from operating activities for 2024 was ¥1,836,403,235.25, a slight increase of 1.10% from ¥1,816,416,285.48 in 2023[6]. - Basic earnings per share for 2024 were ¥0.7927, reflecting a 14.24% increase from ¥0.6939 in 2023[6]. - Total assets at the end of 2024 amounted to ¥19,066,728,233.48, a 2.49% increase from ¥18,604,057,638.04 at the end of 2023[6]. - Net assets attributable to shareholders increased by 6.76% to ¥10,418,968,857.12 at the end of 2024, compared to ¥9,759,358,937.12 at the end of 2023[6]. - The company reported a quarterly revenue of ¥5,012,222,552.42 in Q4 2024, contributing to a total annual revenue growth[6]. - The company achieved a new annual contract value of 3.693 billion yuan for third-party contracts in 2024, with innovative market expansion strategies contributing 560 million yuan to this total[48]. - The company reported a total revenue of 1.2 billion CNY for 2023, representing a year-on-year increase of 15%[171]. Dividend Distribution - The company plans to distribute a cash dividend of 2.40 RMB per 10 shares to all shareholders, based on a total share capital of 1,059,350,260 shares as of March 13, 2025[5]. - The cash dividend distribution plan was approved at the shareholders' meeting held on June 25, 2024[179]. - The company’s total distributable profit at the end of 2024 was RMB 3,271,399,733.38[183]. Business Strategy and Market Position - The company focuses on property management and asset management as its core business areas, following a strategic shift from diversified operations to a concentration on real estate development[21]. - The company aims to become a leading property asset management operator in China, following the acquisition of 100% equity in China Merchants Property Management[21]. - The company is actively pursuing market expansion strategies, including the development of new service offerings and technology enhancements in property management[16]. - The company has established a systematic mechanism for cost reduction and efficiency improvement to enhance resource allocation effectiveness[124]. - The company plans to enhance its operational capabilities by focusing on three core areas: improving profitability, optimizing business structure, and implementing precise cost control measures[124]. - The company aims to build a diversified community service ecosystem to increase non-core property service revenue[124]. - The company anticipates that the demand for community care services will grow due to an aging population, expanding the boundaries of property value-added services[123]. Risk Management - The company has identified potential risks in its future development plans and has outlined corresponding mitigation measures in its management discussion[4]. - The company emphasizes the importance of risk awareness among investors regarding its future plans and forecasts[4]. - The company faces risks including increased market uncertainty, intensified industry competition, and challenges in innovating new business models[120]. - The property management industry is transitioning from growth to a competitive environment, with a slowdown in industry growth and heightened competition[122]. Operational Efficiency and Digital Transformation - The company is focusing on digital transformation and has completed the establishment of a financial data exchange center to improve financial management and operational efficiency[102]. - The company aims to enhance operational efficiency through the implementation of a multi-tenant platform, which has already integrated three business systems and 15 business segments[101]. - The company has completed digital transformation across 10 major business scenarios, enhancing operational management through data integration[82]. - The company is committed to digital transformation to enhance operational efficiency and create a smart property ecosystem[124]. Corporate Governance and Management Changes - The company has experienced changes in its board of directors and senior management during the reporting period, as detailed in the report[142]. - 聂黎明 resigned as Chairman of the Board on April 30, 2024, due to work relocation[143]. - Lu Bin was elected as the new Chairman of the Board on May 6, 2024[143]. - The company plans to enhance its operational efficiency through strategic management adjustments and leadership changes[148]. - The company is focusing on expanding its market presence and improving governance through the appointment of experienced board members[149]. Environmental and Social Responsibility - The company actively promotes low-carbon transformation and sustainable development, aligning with the "dual carbon" strategic goals[197]. - The company has implemented energy management platforms for real-time monitoring and analysis, contributing to reduced energy consumption and carbon emissions[198]. - The company has established a comprehensive environmental governance system, ensuring compliance with national environmental laws and regulations[197]. - The company has launched the "Green Rattan Action" brand campaign to raise environmental awareness and promote low-carbon living among the public[199]. Employee Development and Human Resources - The total number of employees at the end of the reporting period was 41,531, with 38,782 in production roles[176]. - The company implemented a training program aimed at developing over 800 young leaders and key backup talents in 2024[177]. - The company has established a multi-level salary system to attract and retain core talent, focusing on performance and value creation[176]. - The company has no retired employees requiring pension expenses, indicating a focus on a younger workforce[176]. Internal Control and Compliance - The company reported no significant internal control deficiencies in financial reporting as of December 31, 2024[188]. - The company maintains effective internal controls in all significant aspects according to the internal control evaluation report[188]. - The company has not reported any significant deficiencies in the management control of subsidiaries during the reporting period[189]. - The board's decisions have been made with a focus on protecting the legal rights of the company and all shareholders[168].

Core Viewpoint - The company reported a revenue of 17.17 billion yuan for the year 2024, reflecting a year-on-year increase of 9.89% [1] - The net profit reached 841 million yuan, showing a year-on-year growth of 14.24% [1] - The basic earnings per share were 0.7927 yuan, with a proposed cash dividend of 2.40 yuan per 10 shares (tax included) for all shareholders [1] Financial Performance - Revenue: 17.17 billion yuan, up 9.89% year-on-year [1] - Net Profit: 841 million yuan, up 14.24% year-on-year [1] - Basic Earnings per Share: 0.7927 yuan [1] Dividend Announcement - Proposed Cash Dividend: 2.40 yuan per 10 shares (tax included) [1]

内部控制审计报告 毕马威华振审字第 2501087 号 关于招商局积余产业运营服务股份有限公司 内部控制审计报告 2024 年 12 月 31 日 KPMG Huazhen LLP 8th Floor, KPMG Tower Oriental Plaza 1 East Chang An Avenue Beijing 100738 China Telephone +86 (10) 8508 5000 Fax +86 (10) 8518 5111 Internet kpmg.com/cn 毕马威华振会计师事务所 (特殊普通合伙) 中国北京 东长安街 1 号 东方广场毕马威大楼 8 层 邮政编码:100738 电话 +86 (10) 8508 5000 传真 +86 (10) 8518 5111 网址 kpmg.com/cn 内部控制审计报告（续） 招商局积余产业运营服务股份有限公司全体股东： 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求，我们审 计了招商局积余产业运营服务股份有限公司（以下简称"贵公司"）2024 年 12 月 31 日 的财务报告内部控制的有效性。 一、 企业对内部控制的责任 ...

关于招商局积余产业运营服务股份有限公司 2024 年度非经营性资金占用及其他关联资金往来情况的专项说明 2024 年 12 月 31 日 KPMG Huazhen LLP 8th Floor, KPMG Tower Oriental Plaza 1 East Chang An Avenue Beijing 100738 China Telephone +86 (10) 8508 5000 Fax +86 (10) 8518 5111 Internet kpmg.com/cn 毕马威华振会计师事务所 (特殊普通合伙) 中国北京 东长安街 1 号 东方广场毕马威大楼 8 层 邮政编码:100738 电话 +86 (10) 8508 5000 传真 +86 (10) 8518 5111 网址 kpmg.com/cn 我们接受委托，按照中国注册会计师审计准则审计了招商局积余产业运营服务股份有限公 司（以下简称"招商积余"）2024 年度的财务报表，包括 2024 年 12 月 31 日的合并及母公司资 产负债表，2024 年度的合并及母公司利润表、合并及母公司现金流量表、合并及母公司股东 权益变动表以及相关财务报表附 ...

招商局积余产业运营服务股份有限公司 财务报表及审计报告 2024 年 12 月 31 日止年度 招商局积余产业运营服务股份有限公司 2024 年 12 月 31 日 | 内容 | 页码 | | | --- | --- | --- | | 审计报告 | 1 - | 5 | | 合并资产负债表 | 1 - | 3 | | 母公司资产负债表 | 4 - | 6 | | 合并利润表 | 7 - | 8 | | 母公司利润表 | 9 - | 10 | | 合并现金流量表 | 11 - | 12 | | 母公司现金流量表 | 13 - | 14 | | 合并股东权益变动表 | 15 - | 16 | | 母公司股东权益变动表 | 17 - | 18 | | 财务报表附注 | 19 - | 192 | KPMG Huazhen LLP 8th Floor, KPMG Tower Oriental Plaza 1 East Chang An Avenue Beijing 100738 China Telephone +86 (10) 8508 5000 Fax +86 (10) 8518 5111 Internet kpmg ...

关于招商局积余产业运营服务股份有限公司 2024 年度涉及财务公司关联交易的存款、贷款等金融业务汇总表的专项说明 关于招商局积余产业运营服务股份有限公司 毕马威华振专字第 2500825 号 招商局积余产业运营服务股份有限公司董事会： 我们接受委托，按照中国注册会计师审计准则审计了招商局积余产业运营服务股份有限公 司（以下简称"招商积余"）2024 年度的财务报表，包括 2024 年 12 月 31 日的合并及母公司 资产负债表，2024 年度的合并及母公司利润表、合并及母公司现金流量表、合并及母公司股 东权益变动表以及相关财务报表附注，并于 2025 年 3 月 13 日签发了标准无保留意见的审计报 告。 2024 年度涉及财务公司关联交易的存款、贷款等金融业务汇总表的专项说明 2024 年 12 月 31 日 KPMG Huazhen LLP 8th Floor, KPMG Tower Oriental Plaza 1 East Chang An Avenue Beijing 100738 China Telephone +86 (10) 8508 5000 Fax +86 (10) 8518 5111 ...

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