Financial Performance - The company achieved a revenue of approximately RMB 1,365.1 million for the year ended December 31, 2024, an increase of about RMB 51.8 million or approximately 3.9% compared to RMB 1,313.3 million in 2023[8]. - Gross profit was approximately RMB 349.6 million, up by about RMB 13.4 million or approximately 4.0% from RMB 336.2 million in the previous year[8]. - Net profit after tax decreased to approximately RMB 86.6 million, down by about RMB 27.5 million or approximately 24.1% from RMB 114.1 million in 2023[8]. - The property management service revenue reached approximately RMB 1,077.9 million, an increase of about RMB 90.4 million or approximately 9.2% from RMB 987.5 million in 2023[22]. - Community value-added service revenue rose by approximately RMB 4.5 million or 1.8% to approximately RMB 258.0 million for the year ended December 31, 2024[31]. - Non-owner value-added service revenue decreased by approximately RMB 43.1 million or 59.6% to approximately RMB 29.2 million for the year ended December 31, 2024[33]. - The gross profit from property management services increased by approximately RMB 20.4 million or about 9.3% to approximately RMB 238.8 million in 2024[46]. - The gross profit from community value-added services increased by approximately RMB 6.4 million or about 6.5% to approximately RMB 105.1 million in 2024, with the gross profit margin rising from 38.9% to 40.7%[47]. - The gross profit from non-owner value-added services decreased by approximately RMB 13.4 million or about 69.8% to approximately RMB 5.8 million in 2024, with the gross profit margin dropping from 26.5% to 19.8%[48]. Operational Growth - The total number of properties managed increased to 394, with a total managed area of approximately 62.2 million square meters, representing an increase of about 6.4 million square meters or approximately 11.5% from 2023[9]. - The total number of contracted projects rose to 422, with a total contracted area of approximately 70.2 million square meters, an increase of about 5.5 million square meters or approximately 8.5% compared to 2023[9]. - The number of managed projects increased from 335 to 394, contributing to the growth in property management service revenue[35]. - The company expanded its geographical coverage to 45 cities across 18 provinces and municipalities, enhancing its market presence significantly[25]. - The company actively pursued market expansion, adding over 80 new contracted projects during the year, showcasing strong market competitiveness and growth potential[22]. Corporate Governance - The board consists of eight members, including two executive directors, two non-executive directors, and four independent non-executive directors as of December 31, 2024[98]. - The company has adopted and complied with the Corporate Governance Code as per the Listing Rules Appendix C1 for the year ending December 31, 2024[95]. - The board has ensured that at least three independent non-executive directors are appointed, with one possessing appropriate professional qualifications or accounting expertise as required by Listing Rules 3.10(1) and 3.10(2)[101]. - The company has arranged appropriate liability insurance for directors and senior management to cover compensation liabilities arising from corporate activities for the year[97]. - The board is responsible for overseeing the company's business, strategic decisions, and performance, ensuring objective decisions in the best interest of the company[97]. Employee and Shareholder Engagement - The employee cost totaled approximately RMB 425.8 million for the year ended December 31, 2024, down from RMB 446.5 million in 2023, with a workforce of 4,951 employees[71]. - The company has established various communication channels for shareholders to directly engage with the board[153]. - All resolutions presented at the shareholders' meetings are subject to voting in accordance with listing rules, with results published promptly[154]. - Each director participated in at least 15 hours of relevant professional training to update their knowledge and skills during the year[106]. Environmental, Social, and Governance (ESG) Initiatives - The ESG report covers the company's main business in property management services in China and includes key environmental performance indicators[160]. - The company aims to expand the scope and depth of its sustainability performance monitoring in the future[160]. - The company has established a comprehensive environmental management system and obtained ISO 14001:2015 certification, ensuring compliance with environmental laws and regulations[191]. - The company has identified nine key issues for focus, including energy consumption, employee welfare, occupational health and safety, and customer data privacy, which will be highlighted in the report[190]. - The company has implemented risk mitigation measures and internal controls to manage identified environmental, social, and governance risks[179]. Sustainability and Environmental Performance - The company’s nitrogen oxide emissions decreased significantly from 203.18 kg in 2023 to 29.43 kg in 2024, representing a reduction of approximately 85.5%[196]. - Total greenhouse gas emissions (Scope 1, 2, and 3) dropped from 57,580.14 tons CO2 equivalent in 2023 to 38,676.21 tons CO2 equivalent in 2024, a decrease of about 32.8%[196]. - The company achieved a greenhouse gas reduction of 1.27 tons CO2 equivalent in 2024, up from 0.9 tons in 2023, indicating a positive trend in emissions management[196]. - The total energy consumption for the company reached 93,526.45 thousand kWh in 2024, compared to 90,536.66 thousand kWh in 2023, marking an increase of about 3.3%[200]. - The company encourages employees to use video or phone conferencing instead of business travel to reduce greenhouse gas emissions[197].
和泓服务(06093) - 2024 - 年度财报