Company Overview - Jinmao Property Services ranked 17th among China's top 100 property service companies in 2021, according to the China Index Academy[5]. - The company manages 175 properties with a total managed area of approximately 36.4 million square meters as of December 31, 2021[8]. - The total contracted construction area reached approximately 57.6 million square meters, covering 48 cities across 22 provinces, municipalities, and autonomous regions in China[8]. - Jinmao Property Services has established strategic cooperation agreements with various entities to enhance urban operation services and industry upgrades throughout 2021[12][13][17][19]. - The company launched a new brand slogan "With Perseverance, Achieve Long-term" in September 2021, emphasizing long-term value growth[13]. - Jinmao Property Services was recognized as a leading enterprise in property technology empowerment and smart city services in China[5]. - The company aims to deepen its urban property strategy and enhance urban management efficiency through strategic partnerships[17]. Financial Performance - Total revenue for 2021 reached RMB 1,515,525 thousand, representing a 60.5% increase from 2020[22]. - Gross profit for 2021 was RMB 470,034 thousand, a 100.2% increase compared to the previous year[22]. - Net profit margin improved to 11.8% in 2021, up from 8.2% in 2020, an increase of 3.6 percentage points[22]. - The net profit for the year was approximately RMB 179.0 million, an increase of about 132.2% year-on-year[35]. - The cash flow from operating activities increased from approximately RMB 136.2 million in 2020 to approximately RMB 347.4 million in 2021[33]. - The company achieved a pre-tax profit of RMB 248,135 thousand in 2021, up from RMB 107,525 thousand in 2020, indicating strong operational performance[198]. Growth and Expansion - The company has been actively expanding its service offerings, including community value-added services and consulting for property developers[9]. - The company aims to enhance service quality and management levels while focusing on customer-centric strategies for future growth[27]. - The company plans to leverage smart technology to create intelligent communities and improve operational efficiency[29]. - The company aims to expand its urban operation services and has formed a joint venture to provide services in a 60 square kilometer economic development zone[37]. - The company aims to penetrate local markets further to expand its managed scale and increase urban density[59]. - The company plans to continue its strategic growth through customer-centric value propositions and by leveraging its strong parent company support[41]. Service Offerings - Revenue from residential properties amounted to RMB 482.54 million, accounting for 58.6% of total revenue, while non-residential properties generated RMB 340.69 million, making up 41.4%[59]. - The total revenue for property management services was RMB 823.23 million, compared to RMB 567.48 million in the previous year, indicating significant growth[59]. - Non-owner value-added services generated revenue of approximately RMB 539.3 million in 2021, representing an 83.2% increase year-over-year and accounting for about 35.6% of total revenue[73]. - The company’s revenue from consulting and other value-added services to non-owners was RMB 304,842 thousand in 2021, up from RMB 65,955 thousand in 2020, indicating a shift towards more diversified revenue streams[72]. Technology and Innovation - The company is focusing on digital transformation to enhance customer satisfaction and operational efficiency through advanced technologies such as IoT, AI, big data, and cloud computing[38]. - The company plans to enhance its technology capabilities to improve service quality and operational efficiency, including the use of big data for customer preference analysis[84]. - New product development initiatives are underway, with an investment of 50 million HKD allocated for the development of smart community technologies[110]. Corporate Governance - The company has adopted the corporate governance code as its own governance framework, focusing on enhancing internal control measures and transparency to shareholders[120]. - The board of directors is responsible for managing the overall business and overseeing the performance of professional committees, including financial and operational performance[121]. - The company has established clear operating policies and procedures, reporting levels, and delegation of authority to manage daily operations effectively[121]. - The company emphasizes the importance of risk management by reviewing reports from the risk management and audit departments to identify and manage risks[121]. Employee and Management - Employee costs for the year ended December 31, 2021, totaled approximately RMB 400 million, an increase from RMB 300 million in 2020[96]. - The company had 2,658 full-time employees as of December 31, 2021, compared to 1,897 full-time employees as of December 31, 2020[96]. - The management team emphasizes the importance of independent opinions in operational and management decisions to ensure transparency[107]. - Continuous improvement of talent training and incentive mechanisms is planned to support rapid business growth and maintain a high-quality talent pool[84]. Sustainability and Social Responsibility - The company is committed to sustainable development and social responsibility through various community engagement initiatives[30]. - The company emphasized its commitment to sustainability, aiming to reduce operational carbon emissions by 25% over the next three years[110]. - The company has implemented extensive resource recycling and energy-saving measures across its offices and branches to minimize environmental impact[169]. Market Position and Strategy - The company is focused on high-end property management and urban operation services, positioning itself as a leader in the industry[5]. - The company aims to diversify its property portfolio through various channels to achieve economies of scale, leveraging the rich land and project reserves held by the Jinmao Group[77]. - The company seeks to deepen cooperation with local governments and large corporations in areas such as space management and public resource operations to further develop new value-added services[78].
金茂服务(00816) - 2021 - 年度财报