Financial Performance - The company's revenue for the year ended December 31, 2023, was RMB 609.1 million, an increase of 5.4% compared to RMB 577.7 million in 2022[4]. - Gross profit for the year ended December 31, 2023, was RMB 194.7 million, reflecting a growth of 16.5% from RMB 167.1 million in the previous year[4]. - Net profit for the year ended December 31, 2023, reached RMB 104.6 million, marking a 30.4% increase from RMB 80.3 million in 2022[4]. - The company's basic and diluted earnings per share for the year ended December 31, 2023, were RMB 0.36, compared to RMB 0.27 in 2022[5]. - The group’s pre-tax profit for 2023 was RMB 127,576,000, an increase of 33% compared to RMB 95,935,000 in 2022[41]. - Total income tax expense for the year was RMB 22,955,000, up from RMB 15,678,000 in 2022, reflecting a 46% increase[41]. - The group's gross profit increased by approximately 16.5% to about RMB 194.7 million from RMB 167.1 million in the same period of 2022[105]. - The profit attributable to the company's owners rose by approximately 32.3% to about RMB 101.4 million, compared to RMB 76.6 million in the same period of 2022[110]. Revenue Breakdown - Property management service revenue was RMB 519,833 thousand in 2023, up from RMB 473,389 thousand in 2022, indicating a growth of about 9.8%[26]. - Non-owner value-added services revenue decreased to RMB 43,285 thousand in 2023 from RMB 70,002 thousand in 2022, reflecting a decline of approximately 38.2%[26]. - Community value-added services revenue increased to RMB 45,979 thousand in 2023 from RMB 34,311 thousand in 2022, showing a growth of around 34.1%[26]. - The revenue from the major customer, Landsea Holdings Group, accounted for 11.3% of total revenue in 2023, down from 19.3% in 2022[24]. - The total revenue from property management services reached RMB 519.83 million, an increase from RMB 473.39 million in the previous year, reflecting a growth of approximately 9.8%[78]. - Revenue from residential properties management was RMB 374.2 million, representing 72.0% of total property management revenue[89]. Assets and Liabilities - The company's cash and bank balances increased to RMB 602.9 million as of December 31, 2023, up from RMB 361.0 million in 2022[9]. - Total assets less current liabilities amounted to RMB 550.8 million, compared to RMB 454.9 million in the previous year[11]. - Trade receivables increased to RMB 155,586,000 in 2023 from RMB 133,812,000 in 2022, representing a growth of 16%[46]. - The impairment loss on trade receivables rose to RMB 34,554,000 in 2023, compared to RMB 18,447,000 in 2022, indicating an increase of 87%[49]. - The group reported a total of RMB 55,381,000 in prepayments and other receivables for 2023, up from RMB 30,881,000 in 2022, marking an increase of 79%[53]. - Trade payables decreased from RMB 48.3 million in 2022 to RMB 31.4 million in 2023[56]. - Other payables and accrued expenses totaled RMB 120.3 million in 2023, up from RMB 90.4 million in 2022[58]. Project Management - As of December 31, 2023, the company had 253 signed projects with a total signed construction area of 36.4 million square meters[4]. - The total signed area as of December 31, 2023, was approximately 36.4 million square meters, a decrease of about 3.9% compared to the previous year[64]. - The managed building area increased by approximately 27.7% to about 30.1 million square meters as of December 31, 2023[64]. - The number of properties under management increased to 249, representing a growth of 27.7% year-on-year, with a total managed area of approximately 30.1 million square meters[75]. - The number of signed projects reached 253, with a signed building area of 36,372 thousand square meters, indicating growth in project acquisition[87]. - In Sichuan province, the company managed 213 projects with a total area of 22.81 million square meters, contributing 81% of the total revenue[78]. Dividends and Governance - The company did not recommend the payment of a final dividend for the year ended December 31, 2023, consistent with the previous year[4]. - The group did not recommend a final dividend for the year ending December 31, 2023, consistent with 2022[42]. - The audit committee has been established in accordance with Listing Rule 3.21 and the Corporate Governance Code, consisting of three independent non-executive directors[137]. - The audit committee reviewed and agreed with the management on the annual performance for the year ending December 31, 2023[137]. - The group's auditor, Ernst & Young, confirmed that the figures in the consolidated income statement and other comprehensive income, as well as the consolidated financial position, are consistent with the group's financial statements for the year[139]. Future Outlook - The company is focusing on building an innovative value-added service ecosystem, targeting both property and lifestyle services[67]. - The company aims to expand its market share and enhance its business layout in China, focusing on community value-added services which typically yield higher profit margins[73]. - The company continues to enhance its community value-added service offerings, which are expected to drive financial performance further[73]. - The estimated delivery and revenue generation time for uncompleted projects ranges from September 2024 to August 2031[76]. - The company is committed to a long-term strategy focused on high-quality development and customer value creation[72].
领悦服务集团(02165) - 2023 - 年度业绩