Financial Performance - For the six months ended June 30, 2024, the total revenue of Suxin Joyful Life Services Co., Ltd. was approximately RMB 447.5 million, an increase of about 28.3% compared to RMB 348.8 million for the same period in 2023[2]. - The gross profit for the same period was approximately RMB 88.1 million, representing an increase of about 18.5% from RMB 74.3 million in 2023, with a gross margin of 19.7%[2]. - The profit for the period was approximately RMB 32.4 million, a decrease of about 6.3% from RMB 34.5 million in the same period of 2023[2]. - The net profit attributable to equity holders of the company was RMB 31.2 million, down from RMB 32.6 million in 2023[1]. - Basic earnings per share for the period were RMB 0.31, compared to RMB 0.32 in the previous year[1]. - The group's profit before tax for the six months ended June 30, 2024, was RMB 359,473,000, an increase from RMB 274,450,000 for the same period in 2023, representing a growth of approximately 30.9%[22]. - The net profit for the period decreased by approximately 6.3% from RMB 345 million to RMB 324 million, mainly due to increased other expenses[71]. Revenue Breakdown - Revenue from urban services was RMB 288,319,000, up 39.8% from RMB 206,069,000 in the previous year[20]. - Revenue from commercial property management services increased to RMB 119,416,000, representing a 27.7% rise from RMB 93,538,000[20]. - Revenue from residential property management services decreased by approximately 16.3% to about RMB 32.2 million, mainly due to the withdrawal of the Haishulan project[60]. - Revenue from property leasing services fell by approximately 28.9% to about RMB 7.6 million, primarily due to a decrease in the occupancy rate of the Jinlin Apartment[60]. Assets and Liabilities - As of June 30, 2024, total non-current assets increased to RMB 778,030,000 from RMB 748,592,000 as of December 31, 2023, representing a growth of approximately 3.5%[6]. - Current assets totaled RMB 881,833,000, up from RMB 868,041,000, indicating an increase of about 1.9%[6]. - Total current liabilities increased to RMB 561,583,000 from RMB 510,929,000, marking an increase of around 9.9%[7]. - The company's total liabilities increased, reflecting ongoing operational demands and project commitments[81]. Cash Flow and Investments - The total value of cash and cash equivalents decreased to RMB 313,757,000 from RMB 397,318,000, a decline of about 21.1%[6]. - The company successfully acquired land use rights in Suzhou for RMB 49.57 million, with payments structured in two installments[93]. - The net proceeds from the global fundraising amounted to approximately HKD 176.3 million, with specific allocations for strategic investments and service enhancements[95]. Employee and Operational Metrics - The total employee benefits expenses for the six months ended June 30, 2024, amounted to RMB 92,647,000, compared to RMB 85,762,000 for the same period in 2023, reflecting an increase of about 8.2%[22]. - The company has a total of 1,639 full-time employees as of June 30, 2024, a slight decrease from 1,647 employees as of December 31, 2023[98]. - The company is actively hiring qualified personnel with property management experience to support ongoing business growth[98]. Corporate Governance and Compliance - The company has maintained high standards of corporate governance, ensuring shareholder interests are protected[99]. - The audit committee has reviewed the unaudited condensed consolidated financial statements for the six months ending June 30, 2024, and found them to be properly prepared according to applicable listing rules[103]. - The company has adhered to the standards for directors and supervisors conducting securities transactions as of June 30, 2024[100]. Market Position and Recognition - The company has maintained a strong market position in the Yangtze River Delta region, particularly in Suzhou, contributing to business growth[46]. - The company has been recognized as one of the top 100 property service enterprises in China for nine consecutive years since 2016[46]. - The company ranked 33rd in the 2024 China Property Service Top 100 Enterprises list[46]. Future Outlook and Strategy - The company plans to expand its business scale through mergers and acquisitions and equity investments, focusing on project completion and bidding processes[57]. - The company aims to comprehensively enter the Jiangsu market, optimizing service strategies to ensure continuous business growth[58]. - The company is focused on expanding its market presence through the provision of integrated urban services and property management[49].
苏新服务(02152) - 2024 - 中期业绩