Financial Performance - The company achieved a revenue of approximately RMB 766.8 million for the year ended December 31, 2021, representing an increase of about 84.4% compared to the same period in 2020[10]. - The company reported a net profit of approximately RMB 108.6 million, which is an increase of about 81.0% compared to 2020[10]. - Gross profit for the year was approximately RMB 264.2 million, an increase of about 77.4% compared to the previous year[10]. - The earnings per share for shareholders was approximately RMB 15.60, up from RMB 12.76 in 2020[10]. - Net profit after tax for 2021 was approximately RMB 108.6 million, an increase of about 48.6 million or 81.0% compared to approximately RMB 60.0 million in 2020[28]. - The company's total revenue increased by approximately RMB 350.9 million or 84.4% to about RMB 766.8 million in 2021 from approximately RMB 415.9 million in 2020[25]. - The gross profit rose by approximately RMB 115.3 million or 77.4% to about RMB 264.2 million in 2021, with a slight decrease in gross margin from 35.8% in 2020 to 34.5% in 2021[25]. - The net profit for the year increased by approximately RMB 48.6 million or 81.1% to approximately RMB 108.6 million in 2021, driven by business expansion and contributions from newly acquired subsidiaries[81]. Revenue Breakdown - Property management service revenue was approximately RMB 528.5 million, an increase of about 103.8% year-on-year[10]. - Community value-added service revenue grew by approximately RMB 61.0 million or 79.2% to about RMB 138.1 million in 2021, up from approximately RMB 77.1 million in 2020[25]. - Residential properties accounted for 90.0% of the total property management service revenue in 2021, generating RMB 475.58 million, compared to RMB 225.99 million in 2020, which was 87.1% of the total[47]. - Non-owner value-added services revenue was approximately RMB 100.2 million, up by about RMB 20.7 million or 26.1% from RMB 79.5 million in 2020, due to increased demand from property developers[51]. Market Expansion - The total contracted building area managed by the company reached approximately 46.1 million square meters, a growth of about 104.9% from approximately 22.5 million square meters in 2020[13]. - The company has expanded its market presence in 35 cities across 16 provinces and municipalities[13]. - Following the acquisition of Zunyi Jin Ning Property Management Co., Ltd. (68.75% stake), the total contracted building area is expected to reach approximately 53.7 million square meters[14]. - The company completed several significant acquisitions in 2021, including a 51% stake in Zhongshan Zhongzheng for RMB 15.4 million and a 70% stake in Guiyang Xinglong for RMB 156.8 million[36]. Employee and Training Development - As of December 31, 2021, the group had approximately 4,957 employees, a significant increase from 2,154 employees as of December 31, 2020[111]. - Total employee costs for the year ended December 31, 2021, amounted to approximately RMB 277.2 million, compared to RMB 116.5 million in 2020, reflecting a year-over-year increase of 138.5%[111]. - The group implements a comprehensive internal employee training program to enhance technical and service skills, ensuring adherence to industry quality standards[111]. - The company has developed 23 specialized training courses and organized 32 on-site training sessions to promote quality improvement experiences across regions[16]. Corporate Governance - The company has maintained high corporate governance standards, adhering to the Corporate Governance Code as of December 31, 2021[138]. - The board is committed to enhancing shareholder value and improving transparency and accountability[138]. - The company has a strong management team with extensive experience in finance and corporate governance[126][130]. - The company has a diverse board with independent non-executive directors contributing to oversight and independent judgment[126][130]. - The company emphasizes the importance of corporate governance in formulating business strategies and policies[138]. Financial Management and Strategy - The company has adopted a prudent financial management policy to ensure liquidity for daily operations and capital expenditures[108]. - The company plans to use 51.8% of the net proceeds for acquiring other property management companies, with 34.5 million RMB already utilized[97]. - The company aims to leverage economies of scale to maintain high-speed development and operational efficiency[54]. - The management team is focused on strategic planning, business development, and financial management to drive overall growth[115]. Risk Management - The company has established procedures to safeguard assets and ensure reliable financial reporting[200]. - The board is committed to risk management and internal control systems to mitigate business risks[200]. - The company has a structured approach to risk management and internal controls to safeguard shareholder interests[138].
和泓服务(06093) - 2021 - 年度财报