Financial Performance - For the six months ended June 30, 2022, the company's revenue was RMB 324.4 million, an increase of 20.1% compared to RMB 270.0 million for the same period in 2021[9]. - The profit attributable to owners of the company for the same period was RMB 40.1 million, up 5.3% from RMB 38.1 million in the previous year[9]. - Total revenue for the company reached approximately RMB 324.4 million, an increase of about 20.1% compared to RMB 270.0 million in the same period of 2021[16]. - Gross profit for the company was approximately RMB 75.5 million, an increase of 11.9% from RMB 67.5 million in 2021, with a gross margin decrease from 25.0% to 23.3%[19]. - Operating profit increased to RMB 50,360 thousand, up from RMB 48,539 thousand, reflecting a growth of 3.8%[69]. - The profit for the period was approximately RMB 40.7 million, a 4.5% increase from RMB 39.0 million in the same period of 2021[24]. - Basic and diluted earnings per share for the period were RMB 0.40, compared to RMB 0.38 in the same period last year[69]. - The company reported a total comprehensive income of RMB 40,746 thousand for the period, compared to RMB 38,988 thousand in the same period of 2021[69]. Revenue Breakdown - Revenue from property management services accounted for approximately 46.3% of total revenue, amounting to RMB 150.1 million, which is a 22.5% increase year-on-year[10]. - Non-owner value-added services contributed about 36.4% of total revenue, with income of RMB 118.2 million, reflecting a 16.2% increase from RMB 101.7 million in 2021[15]. - Community value-added services represented approximately 17.3% of total revenue, generating RMB 56.0 million, which is a 22.5% increase from RMB 45.8 million in 2021[17]. - Property management services generated revenue of RMB 150,146,000, community value-added services contributed RMB 56,047,000, and non-owner value-added services accounted for RMB 118,168,000 for the six months ended June 30, 2022[89]. Project Management - The total managed projects increased to 80, with a total managed gross floor area of 23.5 million square meters, representing a growth of 27.7% from 18.4 million square meters as of June 30, 2021[9]. - The total contracted area for projects increased to 27.2 million square meters, a growth of 24.8% from 21.8 million square meters as of June 30, 2021[9]. - The company maintained a strategic relationship with Lushang Development Group, which contributed to 46 managed properties with a total area of 12.6 million square meters, an increase of 0.5 million square meters from the previous year[11]. - The company also has 6 managed properties developed by Shandong Commercial Group, totaling 1.2 million square meters, which is an increase of 0.3 million square meters from the previous year[12]. - The company managed a total of 80 projects as of June 30, 2022, compared to 70 projects in the same period of 2021, indicating a growth of approximately 14.3%[16]. Cost and Expenses - The cost of sales increased to approximately RMB 248.8 million, up 22.9% from RMB 202.5 million in 2021, primarily due to rising labor costs and increased maintenance expenses[18]. - The total administrative expenses for the period were approximately RMB 22.2 million, an increase of about 20.4% compared to RMB 18.4 million for the six months ended June 30, 2021, due to hiring more management personnel[22]. - Employee costs, including salaries and benefits, totaled RMB 67,498,000 for the six months ended June 30, 2022, up from RMB 54,275,000 in 2021, reflecting a rise of approximately 24.3%[94]. - The cost of inventory for the six months ended June 30, 2022, was RMB 12,644,000, significantly higher than RMB 5,717,000 in the same period of 2021, marking an increase of about 121.4%[96]. Assets and Liabilities - Current assets as of June 30, 2022, were approximately RMB 648.4 million, a 14.6% increase from RMB 565.6 million as of December 31, 2021[25]. - Total assets as of June 30, 2022, were RMB 648,382 thousand, an increase from RMB 565,575 thousand at the end of 2021[73]. - Current liabilities increased to RMB 372,160 thousand, compared to RMB 331,512 thousand at the end of 2021[73]. - The company's net assets attributable to equity shareholders rose to RMB 338,163 thousand from RMB 298,877 thousand at the end of 2021[73]. - Trade receivables increased from approximately RMB 196.9 million to RMB 229.7 million, primarily due to business expansion[27]. Corporate Governance and Shareholder Information - Major shareholder Lu Shang Development holds 95,100,000 shares, representing 95.10% of the domestic shares and 71.32% of the total shares[51]. - The company has confirmed compliance with the securities trading standards since the listing date[48]. - The company will continue to review and monitor its corporate governance practices to ensure compliance with the corporate governance code[47]. - The audit committee consists of three independent non-executive directors, ensuring compliance with listing rules[61]. - The company has adopted the corporate governance code as per the listing rules since the listing date and has complied with it up to the date of this mid-term report[47]. IPO and Market Activity - The company issued a total of 33,340,000 H-shares at an issue price of HKD 5.92 per share on July 8, 2022, and was listed on the main board of the Hong Kong Stock Exchange[43]. - The net proceeds from the IPO amounted to approximately HKD 138 million, with plans to allocate about 60% for strategic partnerships and acquisitions, 15% for enhancing property management services, 15% for technology investments, and 10% for working capital[39]. - The overallotment option of 5,001,000 H-shares mentioned in the prospectus was not exercised and expired on July 30[128]. Other Financial Information - The company reported no significant issues in the interim financial report as per International Accounting Standard 34[67]. - The company has not purchased, sold, or redeemed any of its listed securities since the listing date[59]. - The group provided services amounting to RMB 108,778,000 during the first half of 2022, slightly down from RMB 108,953,000 in the same period of 2021, a decrease of about 0.16%[124]. - The group recorded interest income of RMB 1,626,000 in the first half of 2022, down from RMB 3,933,000 in the same period of 2021, a decrease of approximately 58.7%[124].
鲁商服务(02376) - 2022 - 中期财报