Financial Performance - Revenue for the year reached RMB 18,527.8 million, a year-on-year increase of 6.5% compared to RMB 17,393.3 million in 2023[5]. - Gross profit reached RMB 3,196.7 million, an increase of 9.7% from RMB 2,913.4 million in 2023, with a gross margin of 17.3%[7]. - Core operating profit was RMB 1,587.5 million, reflecting a 22.5% increase from RMB 1,296.0 million in 2023[7]. - Profit attributable to equity shareholders was RMB 785.1 million, up 29.7% from RMB 605.4 million in 2023[7]. - Total revenue for 2024 reached RMB 17,893,473, an increase of 6.4% compared to RMB 16,812,038 in 2023[8]. - Gross profit for 2024 was RMB 3,011,363, representing a gross margin of approximately 16.8%, up from RMB 2,759,497 in 2023[8]. - Operating profit for 2024 increased to RMB 1,014,264, compared to RMB 780,856 in 2023, reflecting a growth of 29.9%[8]. - Net profit from continuing operations for 2024 was RMB 751,725, a rise of 7.1% from RMB 701,661 in 2023[8]. - Total comprehensive income for the year was RMB 932,220, compared to RMB 777,443 in 2023, indicating a growth of 19.9%[9]. - The company reported a net loss of RMB 119,655 thousand for 2024, compared to a net loss of RMB 191,442 thousand in 2023, indicating an improvement of approximately 37.4% year-over-year[51]. Revenue Breakdown - Property services revenue amounted to RMB 12,401.3 million, accounting for 66.9% of total revenue, with a year-on-year growth of 11.7%[5]. - The company’s revenue from consulting services was RMB 2,412.0 million, a year-on-year increase of 5.1%[5]. - Technology services revenue decreased to RMB 341.2 million, down 20.3% from RMB 428.0 million in 2023[5]. - Community services revenue was RMB 3,373.2 million, making up 18.2% of total revenue, showing a decline of 5.5% from RMB 3,568.6 million in 2023[107]. - Revenue from park services decreased to RMB 2,692,013,000 in 2024 from RMB 2,940,646,000 in 2023, reflecting a decline of approximately 8.4%[28]. Cash and Liquidity - Cash and cash equivalents stood at RMB 4,853.9 million, a 7.1% increase from RMB 4,530.8 million in 2023[7]. - The company reported a significant increase in fixed deposits, reaching RMB 1,118.2 million, a 199.5% increase compared to RMB 373.4 million in 2023[7]. - The net cash flow from operating activities for 2024 was RMB 1,474,721 thousand, compared to RMB 1,436,072 thousand in 2023, indicating a year-over-year increase of about 2.7%[15]. - The cash paid for income taxes in 2024 was RMB 225,901 thousand, up from RMB 205,340 thousand in 2023, indicating an increase of about 10%[15]. - The company reported a cash inflow from the sale of subsidiaries amounting to RMB 62,721 thousand in 2024, compared to a cash outflow of RMB 15,128 thousand in 2023[15]. Dividends and Shareholder Returns - The board proposed a final dividend of HKD 0.13 per share and a special dividend of HKD 0.07 per share[7]. - Proposed final dividend for 2024 is RMB 585,932,000, with a per share amount of HKD 0.13, compared to HKD 0.15 in 2023[81]. - The company paid dividends to equity shareholders amounting to RMB (433,447) thousand, compared to RMB (285,115) thousand previously, representing an increase of approximately 52%[16]. Assets and Liabilities - The company’s total assets amounted to RMB 12,649,296,000, compared to RMB 12,111,712,000 in the previous year, reflecting an increase of about 4.4%[12]. - The company’s total liabilities were reported at RMB 5,044,528,000, compared to RMB 5,969,957,000, showing a decrease of about 15.5%[12]. - Total liabilities for 2024 amounted to RMB 53,804,882, down from RMB 54,843,046 in 2023, showing a reduction of about 1.9%[41]. Operational Efficiency - The company’s administrative expenses decreased slightly to RMB 1,158,022 in 2024 from RMB 1,192,599 in 2023[8]. - Selling and marketing expenses rose to RMB 352.9 million, a 3.0% increase from RMB 342.6 million in 2023, with a selling expense ratio of 1.9%, down 0.1 percentage points[113]. - Administrative expenses decreased by 1.5% to RMB 1,256.3 million from RMB 1,274.8 million in 2023, with an administrative expense ratio of 6.8%, down 0.5 percentage points[114]. Employee and Operational Costs - Employee costs increased to RMB 5,787,253 thousand in 2024, up from RMB 5,460,129 thousand in 2023, representing a rise of approximately 6%[55]. - Total employee cost was RMB 6,150.5 million, an increase of 5.7% from RMB 5,816.9 million in 2023, primarily due to new project deliveries and rising labor costs[158]. Strategic Initiatives - The company aims to reduce management expense ratio by 0.5 percentage points through digital empowerment and precise operations in 2024[98]. - The company plans to enhance its service depth and industry breadth by focusing on high-quality development and urban service integration by 2025[104]. - The company is leveraging technology to improve service efficiency and has initiated collaborations with Ant Group and DingTalk for smart property services[99]. Market Position and Growth - The company achieved an annual operating revenue of approximately RMB 18.53 billion, maintaining steady growth despite a high base[95]. - The area managed reached 5.09 million square meters, reflecting double-digit growth compared to 2023[96]. - The company continues to optimize service offerings and enhance operational capabilities, focusing on core ecosystems such as community retail and home living services[141]. Compliance and Governance - The company has adhered to all applicable corporate governance codes and adopted most of the recommended best practices[174]. - The Audit Committee reviewed the consolidated financial statements for the year ending December 31, 2024, confirming alignment with the data provided by the auditors[178].
绿城服务(02869) - 2024 - 年度业绩