Financial Performance - The group's revenue reached RMB 17,393.3 million, representing a year-on-year increase of 17.1% compared to RMB 14,856.3 million in 2022[2]. - Gross profit amounted to RMB 2,913.4 million, up 21.3% from RMB 2,402.0 million in 2022, with a gross margin of 16.8%, an increase of 0.6 percentage points[3]. - Core operating profit was RMB 1,296.0 million, reflecting a growth of 32.1% compared to the previous year[3]. - Profit attributable to equity shareholders was RMB 605.4 million, a 10.6% increase from RMB 547.5 million in 2022[3]. - The overall comprehensive income for the year was RMB 777.4 million, slightly down from RMB 782.2 million in 2022[6]. - The company's net income after tax increased significantly to RMB 1,641,412 thousand in 2023 from RMB 896,863 thousand in 2022, representing an increase of approximately 83.0%[9]. - The company's profit before tax for 2023 was RMB 972,226,000, an increase from RMB 863,941,000 in 2022, representing a growth of approximately 12.6%[36]. - The net profit for the year was RMB 716.1 million, up 13.4% from RMB 631.4 million in 2022[74]. Revenue Breakdown - Property services generated RMB 11,101.5 million in revenue, accounting for 63.8% of the total revenue, an increase from the previous year's contribution[2]. - The group's revenue from community services rose to RMB 3,521,880 thousand, a 24.8% increase from RMB 2,820,751 thousand in the prior year[15]. - Consulting services revenue increased to RMB 2,295,256 thousand, representing a growth of 11.1% compared to RMB 2,066,796 thousand in 2022[16]. - Technology services revenue decreased to RMB 427,954 thousand, down 12.5% from RMB 489,390 thousand in 2022[15]. - Revenue from property management services was RMB 253,132 thousand, up 70.7% from RMB 148,343 thousand in the previous year[16]. Cash and Liquidity - As of December 31, 2023, cash and cash equivalents were RMB 4,530.8 million, an increase of 8.3% from RMB 4,183.4 million in 2022[3]. - Net cash from operating activities increased to RMB 1,436,072 thousand in 2023, up from RMB 695,276 thousand in 2022, reflecting a growth of approximately 106.5%[9]. - The company reported a net cash outflow from investing activities of RMB 377,530 thousand in 2023, compared to RMB 140,769 thousand in 2022, indicating a significant increase in investment expenditures[9]. - The net cash used in financing activities was (717,246) thousand RMB in 2023, slightly lower than (720,423) thousand RMB in 2022[10]. - Cash and cash equivalents increased by 341,296 thousand RMB in 2023, contrasting with a decrease of (165,916) thousand RMB in 2022[10]. Assets and Liabilities - Total assets decreased to RMB 9,524,144 thousand in 2023 from RMB 9,466,218 thousand in 2022, representing a decline of approximately 0.61%[7]. - Current liabilities rose to RMB 8,557,525 thousand in 2023, compared to RMB 7,387,474 thousand in 2022, indicating an increase of approximately 15.8%[8]. - The company's total liabilities decreased to RMB 1,298,940 thousand in 2023 from RMB 1,590,075 thousand in 2022, a reduction of approximately 18.3%[8]. - The company's equity attributable to shareholders increased to RMB 7,405,535 thousand in 2023 from RMB 7,120,989 thousand in 2022, marking an increase of about 4.0%[8]. Expenses and Costs - Selling and marketing expenses increased by 28.7% to RMB 342.6 million, primarily due to costs associated with community services[65]. - Administrative expenses grew by 10.4% to RMB 1,274.8 million, which was lower than the revenue growth rate, indicating effective cost management[66]. - The total cost of goods sold increased to RMB 1,134,658,000 in 2023 from RMB 771,689,000 in 2022, marking an increase of around 47%[34]. - The total employee costs rose to RMB 5,816,872,000 in 2023, up from RMB 5,064,528,000 in 2022, reflecting an increase of about 15%[31]. Dividends and Shareholder Returns - The board proposed a final dividend of HKD 0.150 per share for 2023[3]. - The proposed final dividend per ordinary share for 2023 is HKD 0.150, representing an increase of 50% compared to HKD 0.100 for 2022, with total dividends payable amounting to RMB 434,185 thousand[45]. - The company approved and paid a final dividend of HKD 0.100 per share for the previous fiscal year, totaling RMB 285,115 thousand, down 47.5% from RMB 542,837 thousand in 2022[46]. Strategic Initiatives and Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[24]. - The company aims to enhance its service capabilities by integrating various service sectors, including community management and urban services[60]. - The company is committed to digital transformation to improve operational efficiency and management effectiveness[57]. - The company will continue to explore innovative service models to enhance customer experience and market share[59]. Governance and Compliance - The company confirmed compliance with all applicable corporate governance codes during the year ending December 31, 2023[110]. - Changes in the board included the resignation of several directors and the appointment of new independent non-executive directors[111]. - The company established an Audit Committee consisting of four independent non-executive directors to oversee financial reporting and risk management[113].
绿城服务(02869) - 2023 - 年度业绩