Business Operations - As of December 31, 2021, the company provided services to 84 commercial property projects, covering 25 cities in China, with a total contracted gross floor area of approximately 3.9 million square meters[4]. - The occupancy rate of the company's properties maintained a healthy level of 94% in 2021, with same-store sales increasing by approximately 21% compared to 2020[19]. - The number of cooperative merchants exceeded 4,300, achieving a positive cycle of brand leasing, operational enhancement, and sales growth[19]. - The company has established a comprehensive and widely recognized brand system, including various shopping center formats such as "COCO Park" and "COCO City" targeting different consumer demographics[4]. - The company has successfully navigated challenges during its first year of listing, establishing a solid foundation for long-term development[19]. - The company is committed to enhancing its organizational structure, market expansion, and operational capabilities to support future growth[19]. - The company aims to create exceptional value for consumers, partners, and shareholders by focusing on competitive products and services[5]. - The company has a strategic focus on new consumption, new services, and new technologies as key drivers for future growth[19]. - The company aims to develop benchmark projects in various regions, such as Guangzhou Health Port COCO Park and Xiamen COCO Park, to meet high-quality living and shopping demands[25]. - The company conducted over 100 live broadcasts during the pandemic, accumulating over 3 million online followers, enhancing its operational capabilities[27]. Financial Performance - In 2021, the company achieved revenue of approximately RMB 572.2 million, representing a year-on-year growth of about 29.5%[21]. - The profit attributable to shareholders was approximately RMB 184.9 million, reflecting a year-on-year increase of approximately 45.8%[21]. - The total revenue from continuing operations for the year ended December 31, 2021, was RMB 572.2 million, representing a significant increase compared to RMB 442.0 million in 2020[70]. - The company's gross profit for the fiscal year was approximately RMB 330.4 million, reflecting a year-on-year growth of about 32.9%[103]. - The gross profit margin increased to 57.7%, up approximately 1.4 percentage points from 56.3% in the previous year[104]. - Other income increased by approximately 168.9% to about RMB 31.1 million, primarily due to increased bank interest income[105]. - The company's net profit for the fiscal year was approximately RMB 183.9 million, a year-on-year increase of about 44.2%[115]. - Revenue from entrusted management services was approximately RMB 351.7 million, accounting for about 61.5% of total revenue, with a year-on-year increase of approximately 13.9%[96]. - Revenue from brand and management output services was approximately RMB 198.5 million, accounting for about 34.7% of total revenue, with a year-on-year increase of approximately 74.2%[97]. Market Expansion and Strategy - The company has a strategic focus on regional expansion, particularly in the Greater Bay Area, with 57 projects in that region alone[36]. - The Greater Bay Area accounted for 86.5% of the total revenue, with a total contracted area of 1.6 million square meters[70]. - The company aims to achieve a target of no less than 700,000 square meters of contracted area in 2022, focusing on first and second-tier cities for expansion[84]. - A total of 8 projects are planned for grand openings in 2022, with a dedicated team established to ensure timely launches[85]. - The company targets a rental rate of no less than 95% in 2022 through a tiered leasing mechanism and strategic partnerships[88]. - The company plans to enhance sales growth by improving member operations and developing sales support plans for merchants[88]. - The company will focus on creating 1-2 unique features for each project to enhance quality and attractiveness[89]. - Marketing campaigns will be strategically planned to meet the increasingly personalized consumer demands, aiming to boost both foot traffic and sales[89]. Corporate Governance - The company was listed on the Hong Kong Stock Exchange on January 26, 2021, issuing 250 million new shares at an offer price of HKD 3.86 per share[176]. - The company has adopted the corporate governance code and has complied with all applicable provisions since its listing date[178]. - The company emphasizes the importance of good corporate governance to enhance investor confidence and accountability[177]. - The company has arranged appropriate liability insurance for its directors and senior management, which is reviewed annually[189]. - The company’s management structure separates the roles of the chairman and the CEO, with Mr. Huang Delin as chairman and Mr. Tao Muming as CEO[188]. - All independent non-executive directors confirmed their independence in accordance with Listing Rule 3.13, and the company considers them to be independent individuals[197]. - Each executive director has entered into a service contract with the company for an initial period of 3 years from the date of listing[198]. - Non-executive directors and independent non-executive directors have signed appointment letters with the company for an initial period of 3 years from the date of listing[199]. - The company held two general meetings during the year ended December 31, 2021[195]. Innovation and Future Outlook - The company plans to explore innovative community business models and various cooperation modes in 2022 to enhance operational efficiency and profitability[90]. - The company aims to develop a series of benchmark projects with regional and urban influence, focusing on new consumption trends and opportunities for long-term growth[91]. - The company is investing in R&D for new technologies, allocating $D million towards innovation initiatives[156]. - Market expansion plans include entering E new regions, aiming for a market share increase of F% in those areas[156]. - The company is considering strategic acquisitions to enhance its market position, with potential targets identified[156]. - A new marketing strategy is being implemented, expected to increase brand awareness by G% over the next year[156]. - The management team emphasized the importance of sustainability initiatives, with a budget of $I million allocated for green technology development[156].
星盛商业(06668) - 2021 - 年度财报