Residential Property Management Services - Residential property management services under management: 1,731 projects with a total GFA of 355.3 million sq.m.[7] - Contracted residential property management projects: 1,931 projects with a total contracted GFA of 406.5 million sq.m.[7] - Residential property management services saw a 24.6% YoY growth in GFA under management, reaching 355.3 million sq.m.[11][13] - Contracted GFA for residential properties increased by 15.9% YoY to 406.5 million sq.m.[11][13] - Managed residential and other non-commercial properties increased to 1,731 projects, with a total GFA under management of 355.3 million sq.m., a YoY increase of 70.2 million sq.m.[28][29] - Contracted GFA for residential and other non-commercial properties reached 406,485 thousand sq.m., with 1,931 projects, while GFA under management was 355,339 thousand sq.m., with 1,731 projects[30] - Revenue from CR Land-managed residential properties was RMB3,731.3 million, while revenue from CR Group and third-party developers was RMB3,514.1 million, totaling RMB7,245.4 million[31] Commercial Operational Services (Shopping Malls) - Commercial operational and property management services: 184 shopping mall projects under management, including subleasing projects[7] - Opened shopping mall projects under commercial operational services: 101 projects, including subleasing projects[7] - Retail sales of shopping malls reached RMB181.2 billion, with 82 out of 101 shopping malls ranking top three in local market retail sales[8] - Commercial operational services for shopping malls experienced a 35.0% YoY growth in contracted GFA, reaching 20.4 million sq.m.[13] - Number of opened shopping malls increased to 101, with a total GFA of 11.0 million sq.m.[11] - Revenue from commercial operational and property management services for shopping malls increased by 30.5% YoY to RMB3,238.3 million, accounting for 21.9% of total revenue, with 98 opened shopping mall projects under management[34] - The Group provided commercial operational services to 98 shopping mall projects with an aggregate GFA of 10.6 million sq.m., with 81.4% of segment revenue coming from commercial operational and property management services[34] - Contracted GFA for shopping malls increased to 20,449 thousand sq.m. in 2023, up from 15,148 thousand sq.m. in 2022, representing a 35% growth[35] - Number of projects for contracted GFA in shopping malls rose to 179 in 2023, compared to 142 in 2022, a 26% increase[35] - GFA of opened projects in shopping malls reached 10,591 thousand sq.m. in 2023, up from 8,968 thousand sq.m. in 2022, an 18% growth[35] - Revenue from commercial operational services and property management services for shopping malls totaled RMB2,634.5 million in 2023, a 24% increase from RMB2,116.9 million in 2022[36] - Retail sales of shopping malls reached RMB 181.2 billion, a 43.3% year-on-year growth, with 101 shopping malls in operation[16] - The company signed 14 new commercial light asset expansion projects, all TOD projects in first and second-tier cities, with 83 shopping centers in reserve[16] - Shopping mall business achieved rental income of RMB22.0 billion, a YoY increase of 38.8%, with operating profit margin increasing by 5.0 percentage points to 64.7%[17] Commercial Operational Services (Office Buildings) - Contracted office projects under commercial operational services: 33 projects[7] - Opened office projects under commercial operational services: 26 projects[7] - Commercial operational services for offices saw a 5.2% YoY increase in contracted GFA, reaching 2.2 million sq.m.[13] - Revenue from office buildings' commercial operational and property management services grew by 11.3% to RMB1,928.0 million in 2023, accounting for 13.1% of total revenue[37][39] - Contracted GFA for office buildings' property management services increased to 18,784 thousand sq.m. in 2023, up from 15,181 thousand sq.m. in 2022, a 24% growth[40] - Number of projects for office buildings' property management services rose to 210 in 2023, compared to 170 in 2022, a 24% increase[40] - GFA under management for office buildings' property management services reached 14,820 thousand sq.m. in 2023, up from 11,996 thousand sq.m. in 2022, a 24% growth[40] - Revenue from property management services for office buildings totaled RMB1,795.8 million in 2023, a 12% increase from RMB1,605.2 million in 2022[41] - 93.1% of the segment revenue for office buildings was generated from property management services, with the remaining from commercial operational services[40] - Office business occupancy rate increased by 3.2 percentage points to 83.9% compared to the end of 2022[17] Financial Performance - Revenue grew by 22.9% to RMB 14,767 million, with gross profit increasing by 30.0% to RMB 4,694 million[14] - Net profit attributable to owners of the parent surged by 32.8% to RMB 2,929 million, with core net profit up by 31.2% to RMB 2,920 million[14] - Total assets increased by 7.5% to RMB 27,783 million, while total equity rose by 11.9% to RMB 16,036 million[14] - Gross profit margin improved by 1.7 percentage points to 31.8%, and net profit margin increased by 1.5 percentage points to 19.9%[14] - Revenue for the year ended 31 December 2023 was RMB14,767.0 million, a 22.9% increase YoY, driven by business M&A, market expansion, and growth in commercial operational and management services[52] - Cost of sales for 2023 was RMB10,072.7 million, up 19.8% YoY, primarily due to increased costs from business scale growth[53][54] - Gross profit for 2023 was RMB4,694.3 million, a 30.0% increase YoY, with a gross profit margin of 31.8%, up 1.7 percentage points[55][56] - Residential property management services gross profit margin was 17.5%, down 1.4 percentage points YoY due to a decrease in value-added service income proportion[57][58] - Commercial operational and property management services gross profit margin was 58.4%, up 7.7 percentage points YoY, driven by improved leverage and cost efficiency[59] - Marketing expenses for 2023 were RMB284.7 million, an 88.3% increase YoY, due to expanded market efforts and new commercial subleasing projects[59] - Administrative expenses for 2023 were RMB949.8 million, a 9.8% decrease YoY, due to cost control and management efficiency improvements[59] - Net profit for 2023 was RMB2,942.6 million, a 33.0% increase YoY[60] - Total bank deposits and cash as of 31 December 2023 were RMB11,646.8 million, mainly held in RMB[60] - Gearing ratio as of 31 December 2023 was 42.3%, a decrease of 2.3 percentage points YoY[60] - Net proceeds of RMB 11,600.4 million were raised, with RMB 1,185.7 million used during the year ended 31 December 2023, leaving RMB 7,191.5 million unused as of 31 December 2023[63] - 60% of the net proceeds (RMB 6,960.3 million) were allocated for strategic investments and acquisitions to expand property management and commercial operational businesses, with RMB 826.0 million used during the year and RMB 4,631.5 million remaining unused[63] - 15% of the net proceeds (RMB 1,740.1 million) were allocated for strategic investments in value-added services and supply chain, with RMB 210.0 million used during the year and RMB 1,317.6 million remaining unused[63] - 15% of the net proceeds (RMB 1,740.1 million) were allocated for investments in information technology systems and smart communities, with RMB 149.7 million used during the year and RMB 1,242.4 million remaining unused[63] - Final dividend per share increased by 54.2% to RMB0.481, with the dividend payout rate rising by 10 percentage points to 55%[21] Membership and Customer Engagement - Number of members exceeded 46 million, reflecting strong customer engagement[8] - The "MIXC Star" membership program exceeded 46.25 million members, with 12.25 million new members added in 2023[16] - The "E-MIXC" platform saw a 52% increase in monthly active users, driving in-store spending of RMB260 million[19] - Property management fee prepayment increased by nearly 200% due to the "MIXC Star" gift activity[19] - The Group aims to enhance its membership programs to attract new users, improve customer loyalty, and create cross-segment customer diversion through digital connections and enriched member benefits[45] Corporate Governance and Leadership - China Resources Land Limited holds a 72.29% stake in China Resources Mixc Lifestyle Services Limited[6] - China Resources (Holdings) Company Limited holds a 1.43% stake in China Resources Mixc Lifestyle Services Limited[6] - The company was ranked No. 1 in capital market excellence among listed property service enterprises in 2023[9] - CR Mixc Lifestyle was included in the Hang Seng Index as a constituent stock on 18 November 2022[8] - Mr. YU Linkang, aged 52, has been the President of the Company since August 2020 and has approximately 30 years of experience in real estate investment and corporate management[74] - Mr. YU Linkang was appointed as the senior vice president of CR Land and the chairman of its property management business, managing the overall operation and business of the Group[75] - Mr. GUO Ruifeng, aged 45, was appointed as an executive Director and the Chief Strategy and Operating Officer in January 2024, bringing extensive experience in property development and management[78] - Mr. Guo was appointed as the Chief Operating Officer of the Company in August 2022 and has been serving as the Vice President of the Company since December 2023[80] - Mr. Guo specialized in the commercial operational services business of the Group since November 2016 and served as the general manager of Hangzhou MIXC under the commercial real estate business division[79] - Mr. Wang Haimin was appointed as an executive Director and the Vice President of the Company in August 2020, with extensive experience in real estate and corporate management[80] - Mr. Wang Lei was appointed as an executive Director and the Vice President of the Company in January 2024, with extensive experience in property development and management, commercial property operation and management, and corporate operation and management[81] - Mr. Wang Lei joined China Resources Group in July 2002 and has served in various roles including mechanical and electrical engineer, cost engineer, and executive manager at Shenzhen Mixc City Project[81] - Mr. Wang was appointed as the General Manager of the Asset Management Department of CR Land headquarters in October 2020, responsible for the commercial property services division[82] - Mr. Nie Zhizhang was appointed as the Executive Director, Secretary to the Board, Vice President, and Chief Financial Officer of China Resources Mixc Lifestyle Services Limited in August 2023, bringing extensive experience in finance, operation, marketing, and investment[83] - Mr. Nie served as the General Manager of the Finance Department and Marketing Department of CR Land's Northeast region from June 2019 to January 2020, overseeing legal, audit, and investment management[83] - Mr. Li Xin has been the Chairman of the Board of Directors of CR Land since May 2022, with extensive experience in corporate management and real estate development[84] - Mr. Li was appointed as the Co-President of CR Land and Chairman of East China Region in July 2016, responsible for the business development of East China region[84] - Mr. GUO Shiqing has been a Director since December 2018 and was appointed as a non-executive Director in August 2020[85] - Mr. Guo served as the finance director of China Resources (Dalian) Co., Ltd. from September 2006 to January 2011[85] - Mr. Guo was appointed as the chief financial officer of CR Land in June 2020[85] - Mr. Guo has been serving as an executive director of CR Land since December 2020[85] - Mr. Guo was further appointed as the secretary to the board of directors of CR Land in December 2022[85] - Mr. LAU Ping Cheung Kaizer was appointed as an independent non-executive Director on 25 November 2020[87] - Mr. Lau has more than 30 years of experience in the real estate industry[87] - Mr. Lau is currently a member of the National Committee of the Chinese People's Political Consultative Conference since March 2018[87] - Mr. Lau served as a member of the HKSAR Legislative Council between October 2000 to September 2004[87] - Mr. Lau obtained a higher diploma in quantity surveying from Hong Kong Polytechnic[87] - Mr. CHEUNG Kwok Ching, aged 63, was appointed as an independent non-executive Director on 25 November 2020 and has over 30 years of experience in the real estate industry[88] - Mr. CHEUNG Kwok Ching is the founder and chairman of ACR Asset Management, founded in March 2019[88] - Mr. CHEUNG Kwok Ching served as the Greater China CEO and chairman of Asia Pacific Board of Cushman & Wakefield until April 2019[88] - Mr. CHAN Chung Yee Alan, aged 57, was appointed as an independent non-executive Director on 25 November 2020 and is currently the chief operations officer of Miramar Hotel and Investment Company, Limited[89] - Mr. CHAN Chung Yee Alan served as an independent non-executive director of Upbest Group Limited from September 2007 to August 2022 and UBA Investments Limited from September 2007 to April 2022[89] - Mr. CHAN Chung Yee Alan was the managing director of Chinalink Express Holdings Limited from 2003 to 2021[89] - Mr. CHAN Chung Yee Alan has been appointed as a member of the Chief Executive's Policy Unit Expert Group on 30 May 2023[89] - Ms. LO Wing Sze, aged 52, was appointed as an independent non-executive Director with effect from 1 July 2023 and is a member of audit committee, nomination committee, and sustainability committee of the Company[90] - Ms. Lo was appointed as a Justice of the Peace in 2017 and awarded the Bronze Bauhinia Star in 2020 by the HKSAR Government[91] - Ms. Lo holds a Bachelor of Economics Degree from the University of Sydney and a Master of Commerce in Finance Degree from the University of New South Wales[91] - Ms. Lo is a member of the Hong Kong Institute of Certified Public Accountants and a fellow member of CPA Australia[91] - Mr. Lou Kewei was appointed as the chief human resources officer of the Company in April 2022[92] - Mr. Lou has experience in human resources administration and party-mass work[92] - Mr. Lou joined CR Land in May 2009 and has held various positions including recruitment specialist, senior human resources executive, and assistant general manager[92] - Mr. Lou served as the assistant general manager of the human resources department of CR Land from March 2021[92] - Mr. Xu Fan, aged 43, was appointed as Vice President of the Company in March 2024, bringing extensive experience in real estate development and company operation management[93] - Mr. Xu has held various leadership roles at CR Land since 2007, including General Manager of Guangzhou Company in South China Region since November 2021[93] - The Company has integrated its corporate culture of integrity, results orientation, and people orientation into employee training and talent development[96] - The Company complied with all applicable code provisions of the Corporate Governance Code in 2023, except for Code Provision F.2.2 regarding the Chairman's attendance at the AGM[96] - The Company has adopted the Model Code for Securities Transactions by Directors to regulate all dealings of the Company's securities by Directors[96] - The Board of Directors currently comprises five executive Directors, two non-executive Directors, and four independent non-executive Directors[97] - The Board held eight meetings during the financial year ended 31 December 2023, with active participation from the majority of Directors[98] - Mr. LI Xin, the Chairman, attended 6 out of 8 Board meetings, while Mr. GUO Shiqing attended all 8 meetings during the financial year[99] - Mr. YU Linkang, the President, attended all 8 Board meetings, and Mr. WANG Haimin also attended all 8 meetings[99] - Ms. WEI Xiaohua, who retired on 15 January 2024, attended 7 out of 8 Board meetings[99] - Ms. YANG Hongxia, who resigned on 17 August 2023, attended 5 out of 5 Board meetings before her resignation[99] - Mr. NIE Zhizhang, appointed on 17 August 2023, attended 3 out of 3 Board meetings after his appointment[99] - Independent non-executive Directors Mr. LAU Ping Cheung Kaizer, Mr. CHEUNG Kwok Ching, and Mr. CHAN Chung Yee Alan attended all 8 Board meetings[99] - Ms. QIN Hong, who resigned on 1 July 2023, attended 3 out of 4 Board meetings before her resignation[99] - Ms. LO Wing Sze, appointed on 1 July 2023, attended all 4 Board meetings after her appointment[99] - The Board has complied with the Listing Rules by appointing at least three independent non-executive Directors, with one-third of the Board being independent non-executive Directors[100] - Seven Directors
华润万象生活(01209) - 2023 - 年度财报