Financial Performance - For the year ended December 31, 2024, Poly Property Services reported revenue of approximately RMB 16,342.3 million, an increase of 8.5% compared to RMB 15,061.9 million in 2023[4]. - The property management services revenue increased by approximately 15.0% to about RMB 11,674.5 million, while non-owner value-added services revenue decreased by approximately 6.4% to about RMB 1,960.1 million[4]. - The net profit for the year was approximately RMB 1,489.4 million, reflecting a 6.6% increase from RMB 1,397.2 million in 2023, with a net profit margin of 9.1%, down by 0.2 percentage points[4]. - Basic earnings per share rose to approximately RMB 2.683, an increase of 7.1% from RMB 2.505 in 2023[4]. - Total comprehensive income for the year was approximately RMB 1,489.4 million, slightly down from RMB 1,398.3 million in 2023[8]. - The pre-tax profit for the year ended December 31, 2024, was RMB 1,473,850,000, an increase from RMB 1,380,140,000 in 2023, representing a growth of approximately 6.8%[26]. - The net profit for the year was approximately RMB 1,489.4 million, an increase of about 6.6% from RMB 1,397.2 million in 2023, with a net profit margin of 9.1%, down from 9.3% in the previous year[89]. Cash Flow and Dividends - Cash and bank balances increased by approximately RMB 855.2 million to RMB 11,866.7 million, a rise of 7.8% compared to the previous year[4]. - The operating cash flow for the year was approximately RMB 2,302.8 million, a decrease of 4.7% from RMB 2,415.9 million in 2023[4]. - The board proposed a final dividend of RMB 1.332 per share, an increase of approximately 33.5% from RMB 0.998 per share in 2023, representing 50.0% of the net profit attributable to shareholders[4]. - The company declared a dividend of RMB 1.332 per share for the year 2024, totaling RMB 737,040,089, which is an increase from RMB 0.998 per share in 2023, totaling RMB 552,226,733[28]. Assets and Liabilities - The total assets less current liabilities amounted to RMB 9,940.7 million, an increase from RMB 8,955.9 million in 2023[11]. - Trade receivables increased to RMB 2,797,326,000 in 2024 from RMB 2,340,540,000 in 2023, marking a rise of approximately 19.5%[31]. - Trade payables increased to RMB 2,754,128,000 in 2024 from RMB 2,009,076,000 in 2023, representing a significant increase of about 37.0%[35]. - The aging analysis of trade receivables shows that receivables due within one year rose to RMB 2,622,102,000 in 2024 from RMB 2,205,782,000 in 2023, an increase of about 18.9%[33]. - The total amount of prepayments and other receivables increased to RMB 802,813,000 in 2024 from RMB 767,476,000 in 2023, reflecting a growth of approximately 4.6%[34]. Employee and Operational Metrics - As of December 31, 2024, the company had 30,125 employees, down from 33,902 employees as of December 31, 2023, with total employee costs amounting to approximately RMB 3,792.0 million for the year[106]. - The total employee costs decreased to RMB 3,792,031,000 in 2024 from RMB 4,352,468,000 in 2023, reflecting a reduction of about 12.9%[26]. - Management expenses decreased by about 8.5% year-on-year, with the proportion of management expenses to revenue reduced by approximately 1.2 percentage points[55]. Market Expansion and Services - The company is focusing on high-quality development amidst challenges in the property service industry, emphasizing market expansion and core competitiveness[52]. - The company achieved a new high in third-party project contract amounts, reaching approximately RMB 3,005.2 million for the year, reflecting steady growth[53]. - The company launched a new "super fast charging" service model for commercial and office services, enhancing support for state-owned and "three new" industry clients[54]. - The company achieved a year-on-year revenue growth of approximately 51.0% in its "Poly Rental" service, focusing on second-hand housing rental and sales[56]. - The company aims to balance scale and quality in market expansion, focusing on strategic clarity and scientific project selection[57]. Governance and Compliance - The audit committee has reviewed the consolidated financial statements for the year ending December 31, 2024, ensuring compliance with accounting principles and internal controls[111]. - The company has adopted the Corporate Governance Code and has complied with all applicable provisions for the year ending December 31, 2024[113]. - The company has maintained sufficient public float as required by the Listing Rules as of December 31, 2024[117]. Future Outlook - The company plans to focus on quality and efficiency, aiming for high-quality completion of the "14th Five-Year Plan" by enhancing project density and market expansion strategies[77][78]. - The company aims to strengthen its competitive advantage by deepening customer engagement in key sectors such as large state-owned enterprises and emerging industries, providing integrated solutions to meet diverse customer needs[78]. - The company plans to enhance its operational capabilities through digital tools and streamlined management structures to improve efficiency[61].
保利物业(06049) - 2024 - 年度业绩