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佳兆业美好(02168) - 2023 - 中期财报
KAISA PROSPERKAISA PROSPER(HK:02168)2023-09-28 13:01

Company Performance - The Group's revenue for the six months ended June 30, 2023, decreased by approximately RMB 17.1 million to RMB 880.0 million, representing a decrease of approximately 1.9% compared to the same period in 2022[22]. - Gross profit for the same period increased by approximately 9.5% to approximately RMB 245.3 million from approximately RMB 224.1 million in the prior year[23]. - The consolidated net loss for the six months ended June 30, 2023, was approximately RMB 96.9 million, compared to a net profit of approximately RMB 56.2 million for the same period in 2022[24]. - Excluding the effect of impairment provision for trade receivables from related parties, the Group recorded a consolidated net profit of approximately RMB 76.8 million for the six months ended June 30, 2023[24]. - For the six months ended June 30, 2023, total revenue decreased by approximately 1.9% to approximately RMB 880.0 million from RMB 897.1 million for the same period in 2022[95]. Service Expansion and Development - Kaisa Prosperity has implemented a dual-wheel drive strategy of "organic growth + independent expansion" to enhance its competitiveness and service capability[17]. - The Group is focused on expanding its service chains and enhancing foundational services to improve customer experience and community living[29]. - The Group's property service portfolios now cover residential, commercial, and cultural tourism properties, enhancing brand value and market expansion[25]. - The Group aims to extend and broaden its value-added service chain to create a second growth curve, focusing on quality services for steady expansion[46]. - The Group launched the "K Series Living Exhibition Hall" in Guangzhou on June 30, 2023, to enhance community living services and create a 15-minute convenient urban living circle[34]. Financial Overview - Revenue from pre-delivery and consulting services for the six months ended June 30, 2023, was approximately RMB 81.1 million, representing a decrease of about 42.4% compared to RMB 140.8 million for the same period in 2022[77]. - Revenue from community value-added services increased by approximately 26.6% to approximately RMB 93.0 million, up from RMB 73.4 million in the prior year, primarily due to the lessening impact of the COVID-19 pandemic[102]. - Revenue from property management services increased by approximately 4.9% to approximately RMB 648.9 million, up from RMB 618.7 million, driven by an increase in the total GFA under management[99]. - Direct operating expenses decreased by approximately 5.7% to approximately RMB 634.7 million from RMB 673.1 million, primarily due to reduced business scale in pre-delivery and consulting services and smart solution services[104]. - The overall gross profit margin increased by approximately 2.9 percentage points from approximately 25.0% for the six months ended June 30, 2022, to approximately 27.9% for the six months ended June 30, 2023[109]. Management and Strategy - Kaisa Prosperity's management scale has reached a new level, with the Gross Floor Area (GFA) under management officially exceeding 100 million square meters, covering 68 cities across 17 provinces and managing 699 projects[17]. - The company aims to embrace future opportunities and challenges while adhering to its development vision of "Serving Beautiful China" in response to significant changes in the economic environment[18]. - The management has focused on high-quality development, actively participating in community renovation and new energy infrastructure maintenance to meet market demand[12]. - The company has established a quality approach centered on sincerity, rigor, pragmatism, and efficiency to continuously improve service quality and brand recognition[16]. - The Group's strategic focus is on transforming into a holistic management services provider, aiming for comprehensive high-quality development[46]. Market and Economic Context - The first half of 2023 saw a restorative growth in the PRC's macro-economy, with the real estate industry reaffirmed as a pillar of the economy, emphasizing housing for living rather than speculation[12]. - The Central Government's policies have supported rigid and improvement-oriented housing demand, ensuring project delivery and stability in the real estate sector[12]. - The property management industry is characterized by "rigid demand + long cycle," presenting significant development potential in the after-sales market of real estate[45]. - Jiake Intelligent has established a strong footprint in key economic regions, including the Guangdong-Hong Kong-Macau Bay Area and Yangtze River Delta, enhancing its service offerings[52]. Employee and Governance - The Group employed 12,361 employees as of June 30, 2023, an increase from 12,159 employees at the end of 2022[161]. - The Company has complied with all applicable provisions of the Corporate Governance Code during the review period[168]. - The Board resolved not to recommend any interim dividend for the six months ended June 30, 2023, consistent with the previous year[179]. Share Option Scheme - The Company has adopted a Share Option Scheme to grant options to eligible participants, aimed at enhancing contributions to the Group[184]. - No options were granted under the Share Option Scheme during the six months ended June 30, 2023[187]. - The maximum number of Shares that may be granted to any Eligible Participant under the Share Option Scheme shall not exceed 1% of the number of Shares in issue in any 12-month period[191].