Company Overview - As of June 30, 2022, the company managed properties covering 18 prefecture-level cities in Henan and 101 out of 102 county-level cities, serving over 2.4 million property owners and residents across 803 properties[13]. - The company ranked 11th among the Top 100 Property Management Companies in China for both 2021 and 2022[15]. - The total gross floor area (GFA) under management positioned the company as the largest property management service provider in central China as of December 31, 2021[12]. - The company has a diversified portfolio including residential properties, shopping malls, cultural tourism complexes, commercial apartments, office buildings, schools, hospitals, and governmental properties[13]. - The company was listed on the Main Board of The Stock Exchange of Hong Kong Limited on May 15, 2020, and included in the Hang Seng Composite Index on September 7, 2020[11]. - The company aims to enhance living quality and lifestyle experiences for residents in Henan, leveraging its established brand and operational history[12]. - The company has expanded its services beyond Henan to include provinces such as Shaanxi, Shanxi, Hebei, Anhui, Hubei, Xinjiang, and Hainan[13]. - The company reported significant growth in its business operations over more than two decades[12]. Financial Performance - The Group achieved revenue of RMB1,565.3 million for the six months ended June 30, 2022, representing a slight increase of approximately 0.1% from RMB1,563.8 million in 2021[20]. - Net profit for the same period amounted to RMB301.5 million, reflecting an increase of 11.3% compared to RMB270.8 million in 2021[20]. - The gross profit margin decreased to 31.8% from 32.1% year-on-year, while the net profit margin improved to 19.3% from 17.3%[53]. - The total cash, including cash equivalents and restricted bank deposits, decreased by 13.0% to RMB 1,971.5 million from RMB 2,266.3 million at the end of 2021[55]. - The Group's total assets increased slightly by 0.1% to RMB 5,043.4 million as of June 30, 2022, compared to RMB 5,037.0 million at the end of 2021[55]. - The Group recorded a revenue of RMB1,565.3 million for the period, representing a slight increase of 0.1% compared to RMB1,563.8 million in the corresponding period of 2021[73]. Property Management Metrics - As of June 30, 2022, the Group managed 803 projects with a total Gross Floor Area (GFA) of 142.13 million square meters, a year-on-year increase of 23.6%[27]. - The contracted GFA reached 254.74 million square meters, representing a year-on-year increase of 22.1%[27]. - The area under management from third parties was 77 million square meters, accounting for 54.2% of the total managed area[27]. - The total managed area of the Group's property management projects reached 142.13 million square meters, a year-on-year increase of 23.6%, with third-party managed area accounting for 54.2%[30]. - The total contracted area of the Group was 254.74 million square meters, up 22.1% year-on-year, with third-party contracted area making up 62.8%[30]. Market Position and Challenges - The Group ranked 16th in the "China Top 50 Property Management Service Companies for New Contracted GFA" for the first half of 2022[28]. - It also ranked 15th in the "China TOP 50 Property Management Service Companies for Third-party Market Expansion" during the same period[28]. - The property management industry faced challenges due to the liquidity crisis of real estate companies, but the Group is expected to benefit from market policies and growing demand[21]. - The Group's competitive advantages are strengthened through market-oriented expansion and brand building[21]. - The management scale continues to improve, with a focus on high-quality growth in the property management sector[26]. Community Engagement and Services - In the first half of 2022, the Group conducted 2,591 community activities, attracting 345,479 participants, which enhanced owner satisfaction[34]. - The Group received 1,257 pennants, 742 thank-you letters, and 5,030 commendation calls from owners in the first half of 2022, indicating strong owner appreciation[34]. - The "Unique Henan, Land of Dramas" cultural tourism project attracted nearly 500 million exposures through marketing activities in the first half of 2022[41]. Digital Transformation and Innovation - As of June 30, 2022, Jianye+ platform has accumulated 6.89 million registered users, with 1.054 million new users added in the first half of 2022[29]. - The gross merchandise value (GMV) of the Jianye+ platform reached RMB 654 million in the first half of 2022, with an average monthly user reach of 24.29 million[29]. - The Jianye+ platform collaborates with over 1,019 suppliers, including well-known brands listed on NASDAQ or the Stock Exchange, enhancing service offerings[62]. - The company plans to enhance the Jianye+ platform to optimize user experience, allocating 15% of total proceeds (RMB 313.3 million) for this purpose[129]. Employee and Organizational Development - As of June 30, 2022, the company had 6,576 full-time employees, primarily located in Henan province[138]. - The company is undergoing organizational changes to create a flatter management structure and is focusing on recruiting young talent[139]. - The overall remuneration system will be adjusted to optimize the existing system and ensure competitiveness and equity in employee remuneration[141]. - The company emphasizes employee training and career development to retain key talent and enhance organizational capabilities[142]. Shareholder Information - Mr. Wang Jun holds 45,398,000 shares, representing approximately 3.58% of the company's issued share capital[145]. - Ms. Wu Lam Li has a significant interest, holding 848,092,944 shares, which is about 66.82% of the company's issued share capital[145]. - The total number of shares issued by the company as of June 30, 2022, is 1,269,206,000[146]. - The company granted post-IPO share options for a total of 11,738,000 shares, with 92,381,000 shares (approximately 7.28% of the issued share capital) remaining unexercised as of June 30, 2022[178]. Corporate Governance - The audit committee of the company is exclusively composed of independent non-executive directors, ensuring direct access to external auditors when necessary[195]. - The company confirmed that all directors complied with the Model Code for Securities Transactions during the period[196]. - Following the appointment of Mr. Shi Shushan as the chief executive officer on February 14, 2022, the company complied with code provision C.2.1 of the Corporate Governance Code[194].
建业新生活(09983) - 2022 - 中期财报