Financial Performance - For the fiscal year ending December 31, 2024, the group's total revenue was approximately RMB 924.6 million, an increase of about 27.5% compared to RMB 725.1 million for the same period in 2023[5]. - The group's gross profit for the fiscal year ending December 31, 2024, was approximately RMB 161.9 million, up about 10.1% from RMB 147.0 million in 2023, with a gross margin of 17.5%, a decrease of 2.8 percentage points year-over-year[5]. - The group's profit for the fiscal year ending December 31, 2024, was approximately RMB 66.2 million, a decrease of about 17.4% from RMB 80.1 million in 2023[5]. - Total customer contract revenue for the year ended December 31, 2024, reached RMB 910,208 thousand, an increase from RMB 708,398 thousand in 2023, representing a growth of approximately 28.5%[23]. - The group's profit before tax for 2024 is RMB 87,816,000, a decrease from RMB 104,536,000 in 2023, representing a decline of approximately 16%[30]. - The basic earnings per share attributable to ordinary equity holders for 2024 is RMB 0.645, down from RMB 0.736 in 2023, indicating a decrease of approximately 12%[33]. - Net profit decreased from approximately RMB 80.1 million for the year ended December 31, 2023, to approximately RMB 66.2 million for the year ended December 31, 2024[95]. Revenue Breakdown - Revenue from urban services amounted to RMB 621,046,000 in 2024, up 37.1% from RMB 453,111,000 in 2023[22]. - Revenue from commercial property management services was RMB 227,576,000 in 2024, representing a 16.5% increase from RMB 195,191,000 in 2023[22]. - Revenue from residential property management services increased to RMB 61,586,000 in 2024, a rise of 2.5% from RMB 60,096,000 in 2023[22]. - Rental income decreased to RMB 14,393,000 in 2024 from RMB 16,706,000 in 2023, reflecting a decline of 13.9%[22]. - Approximately RMB 208,447,000 of revenue for the year ended December 31, 2024, came from a single customer, accounting for over 10% of total revenue[21]. Assets and Liabilities - Total non-current assets increased to CNY 770,763,000 from CNY 748,592,000, representing a growth of approximately 2.9% year-over-year[7]. - Current assets rose to CNY 947,895,000, up from CNY 868,041,000, indicating an increase of about 9.2% compared to the previous year[7]. - Total liabilities decreased slightly to CNY 595,757,000 from CNY 510,929,000, reflecting a year-over-year increase of approximately 16.6%[8]. - Net assets increased to CNY 838,787,000, compared to CNY 810,894,000, showing a growth of about 3.4% year-over-year[8]. - The total liabilities for the group as of December 31, 2024, are RMB 1,228,000,000, an increase from RMB 848,000,000 in 2023, indicating a rise of approximately 45%[26]. Dividends and Shareholder Information - The board of directors proposed a final dividend of RMB 0.3602 per share (tax included) for the fiscal year ending December 31, 2024[5]. - The proposed final dividend for 2024 is RMB 0.3602 per share, compared to RMB 0.3351 per share in 2023, reflecting an increase of approximately 7%[31]. - The company proposed a final dividend of RMB 0.3602 per share for the year ending December 31, 2024, compared to RMB 0.3351 per share for the year ending December 31, 2023, reflecting an increase of approximately 20.4%[138]. Operational Highlights - The total construction area of the group as of December 31, 2024, was approximately 25.6 million square meters, an increase of about 8.9 million square meters compared to December 31, 2023[5]. - As of December 31, 2024, the company has contracted to provide project management services for 179 projects, with a total contracted building area of approximately 2.56 million square meters, a 53.3% increase from 1.67 million square meters in 2023[51]. - The company managed 62 public construction projects with a total built area of 4,501.5 thousand square meters as of December 31, 2024, compared to 45 projects and 3,421.6 thousand square meters in 2023[65]. - The company has established various municipal service agreements with local governments in Suzhou, which may be affected by changes in government relations[78]. Strategic Focus and Market Position - The company focuses on urban services and property management, establishing a strong market position in the Yangtze River Delta region, particularly in Suzhou[48]. - The company is shifting its strategic focus towards non-residential projects, reallocating resources from residential projects to capitalize on the growing demand for professional commercial property management services[53]. - The company is actively diversifying its urban services and property management portfolio, responding to policy directions in Suzhou High-tech Zone[55]. - The company aims to diversify its customer base by leveraging its increasing brand recognition and market position[60]. Compliance and Governance - The company has complied with the corporate governance code and has maintained high standards of corporate governance[134]. - The company has established an Audit Committee consisting of three members, ensuring compliance with relevant regulations and standards[139]. - The financial statements for the year ending December 31, 2024, have been reviewed by Ernst & Young according to Hong Kong accounting standards[143]. Future Outlook - The group aims to expand its service coverage to all cities in Jiangsu Province by 2025 and explore projects in other provinces[73]. - The company plans to enhance its investment in technology and smart operations to improve customer experience and operational efficiency[56]. - The company is adopting a more cautious approach in selecting acquisition targets due to the downturn in the Chinese real estate market[133].
苏新服务(02152) - 2024 - 年度业绩