Risk Management and Internal Control - The Group conducted a comprehensive review of its risk management and internal control systems, considering changes in significant risks and the Group's ability to respond to business and external environment changes[13]. - The Audit Committee reviewed the adequacy of resources, staff qualifications, and experience in accounting, internal audit, and financial reporting functions, deeming them sufficient[17]. - The Group's risk management and internal control systems are considered effective and adequate, complying with the Corporate Governance Code[14]. - The Audit Committee reviewed the risk management and internal control systems of the Group and will continuously monitor these systems on a regular basis[32]. - The management has designed and implemented policies to ensure compliance with laws and regulations, with department heads responsible for supervising their effectiveness[9]. - The Group has established a whistleblower protection mechanism to ensure confidentiality and prevent discrimination or retaliation against whistleblowers[5]. Board and Committee Structure - The Board is responsible for establishing an appropriate internal control system to safeguard the Group's assets and shareholders' interests[3]. - The Board has established three committees, including the Audit Committee, to oversee various aspects of the Company's affairs[21]. - The Nomination Committee was established on 29 April 2020 and comprises three members, with a majority being independent non-executive Directors[36]. - The Company has adopted a Board Diversity Policy effective from 29 April 2020 to enhance the effectiveness of the Board[40]. - The Nomination Committee is responsible for reviewing the structure, size, and composition of the Board at least once a year[39]. - The Company aims to achieve Board diversity by considering various factors, including professional qualifications, cultural background, and gender[45]. - The Remuneration Committee was established on April 29, 2020, and consists of three members, including two independent non-executive Directors[48]. - The primary duties of the Remuneration Committee include making recommendations on remuneration policies and structures for Directors and senior management[51]. Financial Performance - For the year ended December 31, 2022, the Group recorded revenue of RMB3,148.1 million, representing a year-on-year decrease of 12.5% from RMB3,598.9 million in 2021[165]. - Revenue from property management and value-added services amounted to RMB2,881.2 million, a decrease of 5.3% compared to RMB3,040.8 million in 2021, primarily due to the pandemic and real estate market downturn[171]. - Revenue from property management services increased by 29.5% to RMB1,717.4 million, up from RMB1,326.2 million in 2021, driven by an increase in GFA under management from 135.9 million sq.m. to 156.7 million sq.m.[175]. - Community value-added services revenue decreased by 24.6% to RMB652.1 million, down from RMB864.5 million in 2021, mainly due to declines in turnkey and intelligent community services[180]. - The Group's lifestyle services generated revenue of RMB182.0 million, a significant decrease from RMB406.99 million in 2021, reflecting a year-on-year decline of 55.3%[168]. - Commercial property management and consultation services revenue was RMB84.9 million, down from RMB151.1 million in 2021, representing a decrease of 43.8%[168]. Shareholder Communication and Governance - The Group aims to enhance communication with shareholders through various channels, including meetings and investor forums, to improve transparency and understanding of its operations and future development[105]. - The Company emphasizes timely issuance of announcements, circulars, and reports to keep shareholders informed about its status and developments[107]. - The Board has reviewed the shareholders communication policy during the year to ensure effective communication[111]. - Shareholders holding at least one-tenth of the paid-up capital have the right to requisition an extraordinary general meeting[54]. - The extraordinary general meeting must be held within two months after the requisition is deposited[89]. - If the Directors fail to convene the extraordinary general meeting within 21 days, the Shareholder(s) may do so and be reimbursed for reasonable expenses incurred[89]. Company Operations and Market Position - As of December 31, 2022, the company is the largest property management service provider in central China by total gross floor area under management and total revenue for the year[134]. - The company's property management and value-added services cover all 18 prefecture-level cities in Henan and 100 out of 102 county-level cities, serving over 2.4 million property owners and residents across 883 properties[136]. - The company ranked 11th in the "2022 China Top 100 Property Management Companies" and was recognized as a leading company in the property management market in central China and Henan Province[141]. - The company has a diverse portfolio, managing residential properties, shopping malls, cultural tourism complexes, commercial apartments, office buildings, schools, hospitals, city services, factories, parks, and government agency properties[136]. - The company focuses on enhancing customer experience by offering a wide range of lifestyle services and has developed strong capabilities in data analytics to better understand customer needs[140]. - The company has received multiple awards for service quality, including recognition as one of the "2022 China TOP10 Listed Property Management Companies by Comprehensive Strength"[141]. Strategic Initiatives and Future Plans - The Group aims to strengthen its property development efforts to maintain its leading position in the central China region[158]. - Technology investment will be prioritized to enhance efficiency and reduce costs, focusing on intelligent properties[159]. - The overall strategy includes expanding service offerings and enhancing customer experience through a one-stop service model[160]. - The company aims to expand its business segments, which include property management, lifestyle services, and commercial property management, aligning with its core value of benefiting the people in central China[144]. - The company has established a strong brand reputation over its two decades of operation, which supports its growth and service offerings[134]. - The company is committed to continuous improvement of its service offerings through frequent customer interactions and resource consolidation[140]. User Engagement and Technology - The number of registered users on the Jianye+ platform grew from approximately 5.8 million as of December 31, 2021, to approximately 8.1 million as of December 31, 2022[188]. - A total of 212 projects were served under the "Ailaidian" franchising strategy, covering over 300,000 households and achieving a monthly active user retention rate of 70%[190]. - The "Community Upgrading" campaign was initiated to enhance property management services through technology and digitalization, focusing on improving the living environment for property owners[195]. - Central China Property Management received certification for ten enterprise standards, including ISO 9001 and ISO 14001, enhancing its standardization system[199].
建业新生活(09983) - 2022 - 年度财报