Financial Performance - In 2024, First Service Holding Limited achieved total revenue of RMB 1,327.0 million, representing a year-on-year growth of approximately 9.6%[20] - The gross profit for 2024 was RMB 309.7 million, reflecting a year-on-year increase of about 1.6%[20] - The company reported a net loss of RMB 6.3 million for the year, but core profit, excluding impairment losses, was RMB 141.9 million[20] - Revenue increased from RMB 1,210.9 million for the year ended December 31, 2023, to RMB 1,327.0 million for the year ended December 31, 2024, marking an increase of approximately 9.6%[31] - Property management service revenue rose from RMB 869.5 million to RMB 956.4 million, an increase of approximately 10.0% due to the growth in managed building area[32] - Revenue from value-added services increased by approximately 14.7% to RMB 235.8 million for the year ended December 31, 2024, compared to RMB 205.5 million for the previous year[39] - The net profit for the year turned into a loss of RMB 6.3 million for the year ending December 31, 2024, compared to a profit of RMB 70.1 million for the year ending December 31, 2023, representing a decrease of approximately 108.9%[54] Asset and Liability Management - Non-current assets increased to RMB 374.9 million in 2024 from RMB 305.5 million in 2023, marking a significant growth[9] - Current assets rose to RMB 1,309.5 million in 2024, up from RMB 1,166.4 million in 2023[9] - Total assets reached RMB 1,684.4 million in 2024, compared to RMB 1,471.9 million in 2023, indicating a robust asset growth[9] - Total liabilities increased from RMB 758.1 million to RMB 1,013.1 million, resulting in an increase in the debt-to-asset ratio from 51.5% to 60.1%[60] - Trade and other receivables decreased by approximately 3.0% from RMB 571.2 million as of December 31, 2023, to RMB 554.3 million as of December 31, 2024, due to increased impairment provisions[55] - Trade and other payables increased by approximately 13.3% from RMB 404.6 million as of December 31, 2023, to RMB 458.3 million as of December 31, 2024, mainly due to business expansion[56] Strategic Goals and Initiatives - The company aims to enhance service quality and customer experience through standardized and intelligent management practices[21] - First Service Holding Limited is focusing on expanding its "green technology" capabilities and service standards to improve customer living experiences[20] - The strategic goal for 2024 includes "building quality, expanding scale, and creating operations" to ensure stable overall business performance[20] - The company aims to enhance service quality and efficiency, targeting improved customer satisfaction and establishing industry service benchmarks[28] - The company plans to continue innovating service models and expanding community value-added services to drive community life circle construction[28] Operational Growth - The total contracted building area of the group reached approximately 86.9 million square meters as of December 31, 2024, representing a year-on-year growth of about 11.6%[24] - The total managed building area increased to approximately 74.1 million square meters, reflecting a year-on-year growth of about 17.3%[24] - Non-residential property managed area increased by approximately 25.1% year-on-year, adding about 5.6 million square meters[24] - The company completed 100 third-party expansion projects in 2024, with a total contract value of approximately RMB 170 million, laying a solid foundation for sustainable development[24] Corporate Governance - The company is committed to high standards of corporate governance to protect shareholder interests and enhance corporate value[116] - The board consists of 3 executive directors, 3 non-executive directors, and 3 independent non-executive directors, ensuring compliance with listing rules[122] - The company aims to maintain at least 20% female representation on the board, currently meeting this target with one female executive director and one female independent non-executive director[125] - The company has adopted a board diversity policy to enhance governance and efficiency, considering factors such as gender, skills, and professional experience in board member selection[124] - The board consists of nine members, with two female directors, resulting in a female representation of approximately 22%, meeting the policy requirement of at least 20%[126] Talent Development and Employee Engagement - As of December 31, 2024, the company had 3,827 employees, all based in China, with a focus on attracting and retaining qualified personnel[83] - The company has implemented various talent development programs, including the "Craftsman Talent" recruitment plan and the "Star Training Program" for internal employee promotion[84] - The company has implemented various talent development programs, including a recruitment plan for fresh graduates and a training program for internal employees[195] Financial Management and Internal Controls - The company has a structured internal control system with clear responsibilities and regular reviews to ensure effectiveness in financial, operational, and compliance monitoring[170] - The board is responsible for maintaining effective internal controls and risk management systems to protect shareholder interests[170] - The audit committee is responsible for monitoring compliance with legal and regulatory requirements[144] - The company has established a whistleblowing policy and hotline to report actual or suspected fraud cases, ensuring confidentiality and avoidance of conflicts of interest[171] Shareholder Communication and Dividends - The company aims to provide stable and sustainable returns to shareholders, with dividend declarations subject to board discretion and shareholder approval[180] - The company proposed a final dividend of HKD 0.034 per share, totaling HKD 43.0 million for the year ending December 31, 2024, compared to HKD 41.7 million for the previous year[67] - A final dividend of HKD 0.034 per share is proposed for the year ended December 31, 2024[200]
第一服务控股(02107) - 2024 - 年度财报