Financial Performance - The Group's trade receivables increased by approximately 67.2% from approximately RMB176.5 million as of 31 December 2022 to approximately RMB295.1 million as of 31 December 2023, primarily due to the expansion of city services[6]. - The total current assets increased by approximately 47.2% from approximately RMB589.9 million as of 31 December 2022 to approximately RMB868.0 million as of 31 December 2023, mainly due to the expansion of city services[14]. - The Group's net current assets increased by approximately 80.8% from approximately RMB197.5 million as of 31 December 2022 to approximately RMB357.1 million as of 31 December 2023[14]. - The company reported a total revenue of 1.2 billion in 2023, representing a year-over-year growth of 15%[144]. - User data indicates an increase in active users by 20% to 500,000 by the end of 2023[144]. - The company has projected a revenue growth of 10% for the next fiscal year, targeting 1.32 billion[144]. Investments and Acquisitions - The company submitted a bid for the acquisition of 100% equity interest in Sutong Kejia at a final bid price of RMB1 on August 10, 2023[28]. - The company also submitted a bid for the acquisition of 100% equity interest in Runjia, agreeing to acquire 49% for RMB2,053,500 and 51% for RMB2,137,300, totaling RMB4,190,800[28]. - The Runjia acquisition was completed on September 4, 2023, and included a services procurement framework agreement with Suzhou Water Supply Co for maintenance and sanitation services until December 31, 2025[29]. - The company plans to purchase an office building in Hong Kong for both own use and leasing, aligning with its strategy to enhance cooperation with local companies[29]. - The company did not have any other significant investments or acquisitions during the year ended December 31, 2023[31]. - The acquisition of Sutong Kejia and Runjia constituted connected transactions under Chapter 14A of the Listing Rules[28]. Financial Position and Liabilities - The Group's contract liabilities increased by approximately 34.9% from approximately RMB39.8 million as of 31 December 2022 to approximately RMB53.7 million as of 31 December 2023, primarily due to the addition of management projects[11]. - The total current liabilities increased by approximately 30.2% from approximately RMB392.3 million as of 31 December 2022 to approximately RMB510.9 million as of 31 December 2023, primarily due to the increase in trade payables related to city services expansion[14]. - The Group's borrowings totaled approximately RMB119.1 million as of 31 December 2023, a slight decrease from RMB122.5 million as of 31 December 2022[17]. - The Group recorded other liabilities of approximately RMB174.0 million as of 31 December 2023, compared to approximately RMB171.0 million as of 31 December 2022[18]. Risk Management - The Group's liquidity risk is managed by monitoring credit and liquidity risks associated with financial instruments[20]. - The Group is focused on managing and supervising financial risks related to bank loans, finance leases, and other liabilities[54]. - The Company emphasizes the importance of risk management and internal audit as part of its governance structure[91]. - The Company has a structured approach to risk management, ensuring timely and effective measures are in place[54]. Corporate Governance - The Company has established an Audit Committee to review and supervise the financial reporting process and internal control system[91]. - The Company has established a Remuneration Committee to review and provide advice on the remuneration policy for Directors and senior management, ensuring a formal and transparent procedure[95]. - The Company has a structured approach to ensure compliance with corporate governance standards, enhancing decision-making capabilities[108]. - The Board comprises at least three independent non-executive Directors, ensuring a strong element of independence for effective judgment[113]. - The Company has complied with the principles of good corporate governance as of December 31, 2023, with some deviations from code provisions B.2.2 and C.2.1[190]. Strategic Focus and Future Plans - The Group plans to utilize net proceeds of HK$ 52.9 million for acquisitions of other property management companies by 31 December 2024[65]. - Strategic investments in waste collection centers and companies providing operational services are projected to utilize HK$ 52.9 million by 31 December 2024[65]. - The establishment of the Group's own brand "Suxin Leju" is expected to require an investment of HK$ 26.4 million by 31 December 2024[65]. - The Group aims to achieve full utilization of net proceeds by the end of 2023[65]. - The company is expanding its market presence in three new cities, aiming for a 25% increase in market share[144]. - A strategic acquisition of a local competitor is anticipated to enhance service offerings and increase customer base by 30%[144]. Management and Personnel - As of 31 December 2023, the Group had a total of 1,647 full-time employees in China, an increase from 1,226 employees as of 31 December 2022[67]. - The staff cost recognized as expenses for the Group amounted to approximately RMB 174.0 million for the year ended 31 December 2023, compared to approximately RMB 161.3 million for the previous year[67]. - The company has a strong focus on project management and operations across its senior management team[133][135]. - The management team collectively brings diverse expertise from various sectors, enhancing the company's strategic capabilities[131]. Technology and Innovation - Investment in technology development has increased by 40%, focusing on enhancing customer experience and operational efficiency[144]. - The company has implemented a new customer feedback system, which is expected to improve customer satisfaction scores by 15%[144]. - The company’s investments in technologies and intelligent operations increased as a result of business expansion during the year[35]. Compliance and Training - All Directors have participated in continuous professional development to enhance their knowledge and skills during the year ended December 31, 2023[118]. - The Company emphasizes the importance of training regarding responsibilities and obligations under Listing Rules and relevant laws for all Directors[120]. - The Company has arranged training for its Directors, providing them with reading materials on relevant topics to ensure understanding of business operations[120].
苏新服务(02152) - 2023 - 年度财报