Sales and Revenue Performance - Times Neighborhood's sales exceeded RMB100 million within two years of establishing the Neighborhood Renovation strategy[6]. - The Group's revenue for the year ended December 31, 2022, was approximately RMB 2,606.0 million, with a gross profit of approximately RMB 555.9 million[64]. - In 2022, the Group's revenue decreased by 4.2% to RMB 2,606,042,000 compared to RMB 2,719,747,000 in 2021[93]. - Revenue from community value-added services reached RMB 378.6 million during the reporting period[75]. - Revenue from property management services for the year ended December 31, 2022, was approximately RMB1,860.3 million, representing an increase of approximately 18.0% compared to RMB1,576.7 million in 2021[192]. - Revenue from residential property management was approximately RMB939.3 million, accounting for 50.5% of total property management revenue, and increased by approximately 20.8% from RMB777.7 million in 2021[192]. - Revenue from managing properties developed by third-party developers increased from RMB1,007.9 million in 2021 to RMB1,220.6 million in 2022, reflecting a growth driven by active business cooperation[200]. Company Recognition and Awards - Times Neighborhood ranked 11th in the Top 100 Property Management Companies in China, improving its ranking by one place[19]. - The brand value of Times Neighborhood reached a record high of RMB7.6 billion, reflecting its strong service capability and brand strength[23]. - The company was awarded three honors at the China Real Estate Brand Value Research Conference, showcasing its excellence in property service satisfaction[23]. - The company was awarded as a leading enterprise in growth among the Top 100 Property Management Companies in China in April 2022[44]. - Times Neighborhood was recognized as a leading enterprise in intelligent city services in China in April 2022[44]. - Times Neighborhood was awarded as a leading enterprise in ESG sustainability among property listed companies in May 2022[46]. - The company was recognized as a leading brand in professional operation of property management in September 2022[46]. - Times Neighborhood was ranked 7th in market expansion capability among property management listed companies in China in May 2022[46]. - The company was recognized as the 11th in the 2022 Top 100 Property Management Companies in China by CIA, highlighting its comprehensive strength in the industry[166]. Corporate Culture and Employee Engagement - Times Neighborhood held a corporate culture conference and published its first corporate culture e-book to strengthen team cohesiveness[10]. - The company launched a photography competition to capture beautiful moments, engaging both property owners and employees[27]. - The second festival for Creating a Better Life was successfully held, featuring seven community engagement events[25]. - The second Modern Service Creator Contest attracted over 300 employees and garnered attention from more than 100,000 people, promoting cultural discussion within the company[33]. - Times Neighborhood's corporate culture initiative aims to enhance employees' sense of identity and execution abilities, boosting long-term sustainable development[10]. Business Expansion and Market Presence - The Group's property management scale achieved steady growth, with a total contracted GFA of 134.1 million square meters and 1,064 contracted projects[61]. - The management scale in first- and second-tier cities accounted for 75.0% of the total managed GFA[70]. - The Group established six new partnerships with major clients in the industrial park sector during the year[70]. - The company has been deeply rooted in the Greater Bay Area for over 20 years, continuously expanding its property management scope in the region[181]. - The company aims to expand its customer base and property management portfolio through effective independent expansion strategies[194]. - The company increased its business scale and market share primarily through organic expansion in 2022[171]. Financial Performance and Challenges - The loss attributable to owners of the Company amounted to approximately RMB 213.6 million, while the core net profit was approximately RMB 162.1 million[68]. - The Group reported a loss attributable to owners of the parent of RMB 213,627,000, a significant decline from a profit of RMB 308,000,000 in 2021[93]. - Core net profit attributable to owners of the parent, excluding non-recurring expenses, decreased by 56.6% to RMB 143,305,000 from RMB 330,500,000[93]. - The overall economic environment and the real estate industry's downward cycle posed significant challenges to the Group[67]. - The Group improved its net operating cash flow through various measures to accelerate payment collections[68]. Management and Governance - The Group's management team has extensive experience in property management and related fields, with members holding various leadership positions in the industry[110][114]. - The company has a strong leadership team with extensive experience in property management and financial operations, enhancing its operational efficiency[118]. - The company emphasizes the importance of independent directors in ensuring corporate governance and accountability[137]. - The financial management center has been led by Ms. Zhou since August 2019, ensuring robust financial oversight[124]. - The company aims to enhance its operations and management through independent advice from its board members[149]. Community and Social Responsibility - Times Neighborhood actively participated in epidemic prevention efforts in 2022, providing logistical support and forming an "anti-epidemic vanguard" to assist in various regions[37]. - Times Neighborhood published its ESG report, detailing its development in six dimensions including responsible governance and quality service[21]. - The Group became the first property company in China to obtain the S&P ESG rating[85]. Property Management and Operations - The total managed gross floor area (GFA) increased to 118.7 million sq.m. from 105.5 million sq.m. in the previous year[93]. - The GFA under management from third-party property developers was approximately 88.5 million sq.m., accounting for 74.6% of the total GFA under management, down from 76.4% in 2021[197]. - The company has achieved rapid growth in GFA from third-party markets, leveraging its high-quality services and professional reputation[195]. - The company terminated certain property management contracts to reallocate resources to more profitable engagements, optimizing its service portfolio[177].
时代邻里(09928) - 2022 - 年度财报