Financial Performance - The total revenue for the year was approximately RMB 1,956.9 million, representing a year-on-year growth of about 6.8%[4] - The group's gross profit was approximately RMB 415.7 million, a decrease of about 9.0% year-on-year, resulting in a gross profit margin of 21.2%, down by approximately 3.7 percentage points[4] - The net profit for the year was approximately RMB 116.1 million, reflecting a year-on-year decrease of about 11.2%[4] - The profit attributable to the owners of the company was approximately RMB 113.8 million, a decrease of about 9.9% year-on-year[4] - Basic earnings per share for 2024 were CNY 0.30, down from CNY 0.34 in 2023, indicating a decline of 11.8%[18] - Operating profit for 2024 was CNY 148,728,821.04, a decrease of 11.9% from CNY 168,730,686.63 in 2023[16] - Other income for 2024 was CNY 4,097,949.76, down from CNY 9,775,367.72 in 2023, representing a decline of 58%[14] - The company's annual profit is expected to decline by approximately 11.2% from RMB 130.7 million for the year ending December 31, 2023, to about RMB 116.1 million for the year ending December 31, 2024, primarily due to a decrease in gross profit from RMB 456.9 million to RMB 415.7 million[83] Revenue Breakdown - Community service revenue increased by 7.8%, while business service revenue grew by 27.8%, and urban service revenue rose by 36.0%[4] - Revenue from community services for the year ended December 31, 2024, was RMB 287.1 million, with a gross margin of 20.0%, down from RMB 285.3 million and a gross margin of 21.4% in 2023[77] - Revenue from business services increased by approximately 27.8% to RMB 466.0 million for the year ended December 31, 2024, compared to RMB 365.0 million in 2023[72] - Revenue from urban services grew by approximately 36.0% to RMB 187.1 million for the year ended December 31, 2024, up from RMB 137.6 million in 2023[73] - Revenue from ancillary services decreased by approximately 12.0% to RMB 284.9 million for the year ended December 31, 2024, down from RMB 323.7 million in 2023[74] Assets and Liabilities - The total current assets as of December 31, 2024, were approximately RMB 3,777.2 million, a slight decrease from RMB 3,811.3 million in the previous year[6] - The total liabilities as of December 31, 2024, were approximately RMB 1,966.2 million, compared to RMB 2,061.1 million in the previous year[10] - The total accounts receivable at year-end amounted to RMB 2,551,398,890.86, an increase from RMB 2,419,155,699.67 at the beginning of the year, reflecting a growth of approximately 5.5%[23][24] - The provision for bad debts at year-end was RMB 435,206,782.83, which is 17.06% of the total accounts receivable, compared to 13.51% at the beginning of the year[24] - The total liabilities and equity amounted to CNY 4,174,097,355.23 as of December 31, 2024, compared to CNY 4,154,225,189.29 in 2023[12] Operational Metrics - The contracted construction area was approximately 101.3 million square meters, with an increase of about 0.3 million square meters[4] - The managed construction area was approximately 89.3 million square meters, with an increase of about 5.7 million square meters[4] - The company managed a total of 473 property management projects, covering a total construction area of approximately 89.3 million square meters across 68 cities in China as of December 31, 2024[41] - The company has signed contracts for managing 519 property management projects, with a total contracted construction area of approximately 101.3 million square meters[41] - The community property management segment managed 80,625 thousand square meters across 395 projects in 2024, compared to 76,103 thousand square meters across 370 projects in 2023, indicating a 5.5% increase in area and a 6.8% increase in project count[53] Strategic Initiatives - The company is focused on property management and related value-added services in China, with its parent company listed on the Shenzhen Stock Exchange[20] - The company is focusing on expanding its non-residential and urban operation service projects in 2024[46] - The group plans to enhance its service offerings by expanding into areas such as environmental health, medical beauty, and tourism accommodation through strategic investments and acquisitions[62] - A new wellness service brand "Lin Lin Yue Hu" will be launched, focusing on providing comprehensive care services for all age groups[62] - The company has expanded its market presence through acquisitions, including Wan Jia Smart Environment, to enhance urban management services[56] Governance and Compliance - The company has adhered to all applicable corporate governance codes during the relevant year[117] - No violations were discovered during the year regarding securities trading standards[119] - The board of directors has established an audit committee responsible for reviewing and supervising the company's financial reports, risk management, and internal control systems[121] - The external auditor has confirmed that the consolidated financial statements for the year ending December 31, 2024, are consistent with the amounts reported[123]
荣万家(02146) - 2024 - 年度业绩