Financial Performance - For the year ended December 31, 2021, the company achieved revenue of approximately RMB 7,903.67 million, representing a year-on-year growth of approximately 70.9%[8] - The profit attributable to the owners of the company was approximately RMB 1,276.33 million, reflecting a year-on-year increase of 113.9%[8] - The gross profit margin improved by 3.9 percentage points to approximately 31.5%, while the net profit margin increased by 3.8 percentage points to approximately 17.2%[10] - The group's total revenue for the year ended December 31, 2021, was approximately RMB 7,903.7 million, an increase of about RMB 3,278.5 million (approximately 70.9%) compared to RMB 4,625.2 million for the year ended December 31, 2020[16] - The gross profit for the year ended December 31, 2021, was approximately RMB 2,491.0 million, an increase of about RMB 1,215.3 million (approximately 95.3%) from RMB 1,275.7 million in 2020, with a gross margin of 31.5%[28] - The net profit for the year ended December 31, 2021, was approximately RMB 1,358.5 million, with a net profit margin of 17.2%, an increase of about 118.5% compared to RMB 621.6 million in 2020[35] - Basic earnings per share for the year were RMB 0.41, compared to RMB 0.25 in the previous year, reflecting a 64% increase[151] Revenue Growth and Segmentation - Property management service revenue reached approximately RMB 4,538.5 million, an increase of about RMB 1,765.0 million (approximately 63.6%) year-on-year, driven by an increase in managed building area[18] - Community living service revenue grew by approximately 187.9%, with its revenue contribution rising to 6.4% of total revenue, and a gross margin of approximately 45.6%[12] - Non-owner value-added services revenue reached approximately RMB 2,681.7 million in 2021, up by about RMB 1,009.0 million (approximately 60.3%) from RMB 1,672.7 million in 2020[21] - Community living services revenue increased to approximately RMB 507.4 million, representing a growth of about RMB 331.1 million (approximately 187.9%) compared to RMB 176.2 million in 2020[23] Operational Expansion - As of December 31, 2021, the total managed building area was approximately 215 million square meters, a growth of approximately 58.9% compared to December 31, 2020[10] - The contracted building area reached approximately 358 million square meters, an increase of approximately 35.9% year-on-year[10] - The area acquired through market expansion grew by approximately 210.8% to 36.12 million square meters, surpassing the area acquired from the parent company for the first time[10] - The company is actively expanding into non-residential sectors, achieving rapid replication in commercial, public construction, venues, and schools[10] Strategic Acquisitions - The group acquired Rongle Times Group in 2021, significantly increasing its commercial operation management service revenue due to the integration of high-quality commercial management projects[16] - The company completed the acquisition of 80% of Zhangtai Service Group for RMB 730 million, enhancing its business scale and competitiveness in Guangxi Zhuang Autonomous Region[84] - The company acquired 100% equity of Rongle Times (Hainan) Commercial Management Co., Ltd. for RMB 1.8 billion, with a profit commitment of no less than RMB 140 million for 2022[86] Financial Position and Assets - As of December 31, 2021, the total bank deposits and cash of the group amounted to approximately RMB 5,378.4 million, a decrease of about RMB 4,000.2 million compared to RMB 9,378.6 million on December 31, 2020[39] - The total assets increased to RMB 13,468,266 thousand in 2021, up from RMB 12,959,461 thousand in 2020, representing a growth of approximately 3.93%[152] - The company's equity attributable to owners decreased to RMB 8,501,525 thousand in 2021 from RMB 9,679,874 thousand in 2020, a decline of about 12.09%[152] - The company's goodwill amounted to RMB 1,687.54 million, representing approximately 12.5% of total assets[143] Governance and Compliance - The company has adopted the corporate governance code as per the listing rules, ensuring compliance with all applicable provisions[54] - The board consists of nine members, including three executive directors, three non-executive directors, and three independent non-executive directors, responsible for overseeing the company's strategic development and financial performance[57] - The company emphasizes the importance of good corporate governance and has implemented regular discussions on performance and operational strategies among board members[54] - The company has established a compliance manual and code of conduct applicable to employees and directors to ensure adherence to governance standards[54] Risk Management - The company has established a clear risk management structure with defined responsibilities and functions[75] - The company has adopted a risk management program to identify, assess, and address major business risks, ensuring effective control of risk matters through regular audits and training[78] - The board of directors conducted an annual review of the risk management and internal control systems, finding them effective and sufficient for the fiscal year ending December 31, 2021[79] Shareholder Engagement and Dividends - The board proposed a final dividend of RMB 0.124 per share, totaling approximately RMB 381.7 million, subject to shareholder approval at the annual general meeting[92] - The company emphasizes effective communication with shareholders, maintaining ongoing dialogue through annual general meetings and other forums[81] - Shareholders holding at least 10% of the paid-up capital have the right to request the board to convene a special general meeting within two months[82] Employee and Community Engagement - As of December 31, 2021, the group had 38,146 employees, an increase from 27,909 employees in 2020, with total employee costs amounting to approximately RMB 3.22 billion[135] - The group made charitable donations totaling approximately RMB 533,000 for the year ended December 31, 2021, compared to zero in 2020[135] Future Outlook - The company has set a future outlook with a revenue guidance of $1.5 billion for the next fiscal year, indicating a growth target of 25%[46] - The company plans to expand its market presence by entering three new regions in the upcoming year, aiming for a 10% market share in these areas[46] - The management team emphasized the importance of cost management, targeting a reduction in operational costs by 5% over the next year[46]
融创服务(01516) - 2021 - 年度财报