Financial Performance - For the six months ended June 30, 2021, the company reported revenue of RMB 5,153.1 million, a 43.0% increase from RMB 3,600.9 million in the same period of 2020[10]. - Gross profit for the same period was RMB 1,031.5 million, with a gross margin of 20.0%, slightly down from 20.4% in 2020[10]. - The net profit attributable to shareholders was RMB 490.8 million, representing a 22.8% increase from RMB 399.6 million in the prior year[10]. - Total revenue for the group reached approximately RMB 5,153.1 million, representing a 43.1% increase compared to RMB 3,600.9 million in the same period of 2020[39]. - The net profit for the period was approximately RMB 505.1 million, a 23.0% increase from approximately RMB 410.7 million in the same period of 2020, with a net profit margin of 9.8%[47]. - Basic and diluted earnings per share increased to RMB 0.89 from RMB 0.72, reflecting a 23.6% growth[83]. Revenue Breakdown - Revenue from property management services accounted for approximately 61.0% of total revenue, amounting to RMB 3,143.4 million, a 37.5% increase year-on-year[17]. - The total revenue from property management services for the first half of 2021 was approximately RMB 3,143.4 million, a significant increase from RMB 2,285.9 million in the same period of 2020, representing a growth of approximately 37.5%[21]. - Revenue from third-party property management services reached approximately RMB 1,047.3 million, a substantial increase of about 89.9% year-on-year, accounting for approximately 33.3% of total property management service revenue[22]. - Non-residential property management service revenue recorded approximately RMB 1,121.5 million, a growth of 71.2% compared to the same period in 2020, contributing to about 35.7% of total property management service revenue[23]. - Property management service revenue from residential communities for the six months ended June 30, 2021, was approximately RMB 2,022.0 million, an increase of about 24.0% compared to the same period in 2020, representing approximately 64.3% of the total property management service revenue[25]. - Community value-added services achieved revenue of RMB 1,202.9 million, making up 23.3% of total revenue, with a significant growth rate of 58.0% year-on-year[40]. Assets and Liabilities - The total assets of the company as of June 30, 2021, were RMB 10,366.2 million, up from RMB 9,444.2 million at the end of 2020[11]. - Current assets as of June 30, 2021, were approximately RMB 9,126.6 million, a 2.6% increase from approximately RMB 8,898.7 million as of December 31, 2020[48]. - Trade receivables increased to approximately RMB 1,298.6 million, up approximately RMB 410.5 million from RMB 888.1 million as of December 31, 2020, due to business expansion[52]. - Trade payables increased to approximately RMB 574.7 million, a 44.7% increase from approximately RMB 397.1 million as of December 31, 2020[53]. - Accrued expenses and other payables were approximately RMB 1,706.0 million, a 36.8% increase from approximately RMB 1,246.8 million as of December 31, 2020[54]. Strategic Initiatives - The company is actively pursuing a "big property" strategy, which includes various business models and market expansion through acquisitions and partnerships[17]. - The company aims to enhance its service quality and brand influence while expanding into commercial and office properties, public and other properties, particularly in urban scenic areas[23]. - The company is focusing on deepening core industries and enhancing diversified, high-quality, and professional value-added service capabilities[36]. - The company plans to accelerate digital transformation and increase investment in information technology and smart solutions[38]. - The company aims to enhance operational management efficiency through organizational restructuring and talent development[37]. Corporate Governance - The company has adopted the Corporate Governance Code as per the Listing Rules and complied with all applicable provisions during the reporting period[71]. - The audit committee reviewed the consolidated financial statements for the six months ended June 30, 2021, and discussed accounting principles and internal controls with management[70]. - The audit committee consists of non-executive directors and independent non-executive directors, with a focus on financial reporting and risk management[70]. Shareholder Information - As of June 30, 2021, the total number of issued shares of the company was 553,333,400, consisting of 400,000,000 domestic shares and 153,333,400 H shares[79]. - The company reported a significant shareholder structure, with Poly Group holding 100% of the domestic shares and Poly Development Holdings holding 95% of the shares[79]. - GIC Private Limited holds 9,169,400 H shares, representing 5.98% of the total H shares issued[78]. - The company declared dividends amounting to RMB 237,933 thousand during the period, reflecting a commitment to returning value to shareholders[86]. Cash Flow and Investments - Operating cash flow for the six months ended June 30, 2021, was RMB 626,457,000, a significant increase of 510% compared to RMB 102,721,000 for the same period in 2020[89]. - The net cash used in investing activities was RMB 853,864,000 for the six months ended June 30, 2021, compared to a net cash inflow of RMB 36,218,000 in the same period of 2020[89]. - The group reported a decrease in cash and cash equivalents of RMB 320,656,000 for the six months ended June 30, 2021, compared to an increase of RMB 682,077,000 in the same period of 2020[90]. Employee and Talent Management - The total employee cost for the six months ending June 30, 2021, was approximately RMB 2,087.7 million, with a workforce of 44,102 employees[68]. - The company has implemented a recruitment initiative named "Fire Action" to attract high-quality management and professional talent[69]. - The company is advancing its corporate culture construction and exploring effective practices to enhance the organizational atmosphere[69].
保利物业(06049) - 2021 - 中期财报