Financial Performance - The company has shown strong financial performance since its listing in 2002, with current annual revenue approaching HKD 80 billion, making it the fastest-growing in the industry with an average growth rate of 27% [1] Business Lines - The company continues to effectively manage operational costs, contributing to its robust financial growth [1] Market Data - No specific market data or key indicators were provided in the content [1] Company Strategy and Industry Competition - The company maintains a focus on controlling operational costs while pursuing growth, indicating a strategic emphasis on efficiency in a competitive industry [1] Management Comments on Operating Environment and Future Outlook - Management has not provided specific comments on the operating environment or future outlook in the content [1] Other Important Information - No additional important information was provided in the content [1] Q&A Session Summary - No questions and answers were provided in the content [1]

standing by. Welcome to Tencent Holdings Limited 2021 Fourth Quarter and Annual Results Announcement Conference Call. At this time, all participants are listening only now. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star and the number one on your telephone. And please be advised that today's conference is being recorded. If you require any further assistance, please press star zero. And now I would like to turn ...

Financial Data and Key Metrics Changes - The company reported its Q4 2021 earnings, but specific financial data and key metrics were not provided in the document [1] Business Line Data and Key Metrics Changes - No detailed information regarding changes in various business lines was available in the document [1] Market Data and Key Metrics Changes - The document did not include specific market data or key metrics changes [1] Company Strategy and Development Direction and Industry Competition - There was no information regarding the company's strategy, development direction, or industry competition in the document [1] Management's Comments on Operating Environment and Future Outlook - The management's comments on the operating environment and future outlook were not included in the document [1] Other Important Information - The conference call was recorded, and participants were in a listen-only mode during the presentation [1] Q&A Session All Questions and Answers - The document did not provide any details regarding the Q&A session, including questions and answers [1]

Financial Data and Key Metrics Changes - In 2021, the company achieved a revenue growth of 50.8%, reaching a total of 4.7 billion [14][15] - Net profit increased by 56.5%, amounting to 620 million, fulfilling the annual target set at the beginning of the year [15][14] - Operating cash flow reached 830 million, indicating a strong operational status [28] - The management expense ratio decreased to below 10% for the first time, reflecting improved efficiency [27] Business Line Data and Key Metrics Changes - The core property management service revenue grew by 51%, totaling 2.7 billion, with a new increase of over 900 million [17] - Community value-added services revenue reached 1.1 billion, maintaining a growth rate of 40% [17] - Non-owner value-added services saw a 51% increase, driven by steady growth in real estate and third-party developer collaborations [20] Market Data and Key Metrics Changes - The company expanded its operations to 124 cities, achieving a nationwide layout [4] - The signed area increased by 90 million square meters, with managed area growing by 70 million square meters [4] - The company served over 600,000 families, providing services to more than 2 million homeowners [4] Company Strategy and Development Direction - The company adheres to a four-wheel drive strategy, focusing on sustainable and healthy development [5] - It emphasizes a customer-centric approach, leveraging technology to enhance service quality and operational efficiency [10][9] - The company aims to maintain a long-term growth strategy, with a focus on strategic mergers and acquisitions to enhance its competitive edge [7][6] Management's Comments on Operating Environment and Future Outlook - The management acknowledged the challenges posed by the pandemic and real estate market fluctuations but expressed confidence in the company's resilience and growth potential [2][3] - Future strategies include a shift towards technology-driven operations and enhancing service quality to meet evolving market demands [34][36] - The management believes that the property management industry will continue to grow, with opportunities arising from market consolidation and policy support [31][32] Other Important Information - The company received an ESG rating of A, reflecting its commitment to social responsibility and sustainable practices [13] - Significant investments in technology, amounting to nearly 60 million, were made to enhance service capabilities and operational efficiency [10][4] Q&A Session Summary Question: What are the company's future growth strategies? - The company plans to focus on technology integration and enhancing service quality to adapt to market changes and customer needs [30] - It aims to maintain a long-term growth trajectory while exploring strategic partnerships and acquisitions to strengthen its market position [29] Question: How does the company view the current market environment? - The management believes that despite short-term challenges, the long-term growth potential of the property management industry remains strong, supported by government policies and market demand [31][32]

Financial Data and Key Metrics Changes - In 2021, total revenue reached 328.3 billion RMB, up almost 34% year-over-year, and adjusted net profit reached 22 billion RMB, up almost 70% [2][4][14] - In Q4 2021, total revenue was 85.6 billion RMB, up 21.4% year-over-year, and adjusted net profit was 4.5 billion RMB, up nearly 40% year-over-year [4][12] - Gross margin for the full year 2021 increased to 17.7%, a record high, with internet services gross margin reaching 76.1% in Q4 2021 [14][12] Business Segment Data and Key Metrics Changes - Smartphone revenue for the full year reached 209 billion RMB, up more than 37% year-over-year, with shipments exceeding 190 million units, up 30% year-over-year [6][9] - IoT product revenue reached 85 billion RMB for the full year, an increase of 26.1% year-over-year, with Q4 revenue at 25.1 billion RMB, up 19.1% year-over-year [9][10] - Internet services revenue reached 28.2 billion RMB for the full year, up 18.8% year-over-year, with Q4 revenue at 7.3 billion RMB, up 17.7% year-over-year [12][14] Market Data and Key Metrics Changes - Xiaomi ranked number three globally in smartphone shipments and number one in 14 markets, with a market share of 23% in Europe and number one in Spain and India [2][8] - In mainland China, smartphone market share reached 15.2%, up from 10.5% in 2019 [5][6] - The number of connected devices on the AIoT platform reached 434 million, up 33.6% year-over-year [9][11] Company Strategy and Development Direction - The company plans to invest over 100 billion RMB in R&D over the next five years, focusing on innovation and premiumization of products [2][4] - The strategy includes strengthening both online and offline distribution channels, with over 10,200 stores in mainland China by the end of 2021 [3][6] - The company aims to enhance operational efficiency in offline retail stores and improve sales and customer service capabilities [3][6] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the smartphone market's growth potential despite geopolitical tensions and supply chain challenges, particularly in Europe and Latin America [17][18] - The supply situation is expected to improve significantly in the second half of 2022, with continued efforts to enhance market share [19][22] - Management highlighted the importance of R&D investment and premium product offerings to drive future growth [18][20] Other Important Information - The company repurchased 8.4 billion Hong Kong dollars of its own shares in 2021 and announced a new 10 billion stock buyback program for the next year [15] - Xiaomi received recognition for its ESG efforts, including an Award of Excellence in ESG and being named in Forbes' World's Best Employees list [15][16] Q&A Session Questions and Answers Question: What do you expect for smartphone shipments in 2022 given global geopolitical tensions and pandemic issues in China? - Management noted that despite external challenges, the smartphone market remains large, with significant growth potential in Europe and Latin America [17][18] Question: Should we expect a more normalized margin trend in 2022? - Management indicated that Q4's gross margin was impacted by promotional activities but expressed confidence in maintaining a healthy gross margin moving forward [19][20] Question: How should we think about the cost of the EV business in 2022? - The majority of expenditures for the EV business will be R&D related, with further disclosures expected as the year progresses [21] Question: What is the latest status on Xiaomi's smartphone component supply? - Management stated that while Q1 faces challenges, significant improvements in supply are anticipated in Q2 and beyond [22]

Financial Data and Key Indicators Changes - In 2021, the company's revenue reached 9.25 billion RMB, representing a growth of 57.2% compared to 2020 [15][16] - The net profit, after deducting listing expenses, was 1.87 billion RMB, with a growth rate of 60.6% [16][17] - The overall gross margin decreased slightly from 42.1% in 2020 to 40.7% in 2021, primarily due to changes in revenue structure [27][28] Business Line Data and Key Indicators Changes - Property management services grew by 67.2%, while life services saw a significant increase of 116% [15][16] - The independent third-party property management area increased to 28.7%, a year-on-year growth of 312% [4][21] - Life services accounted for 27.4% of total revenue, up from 19.9% in 2020 [16][22] Market Data and Key Indicators Changes - The company achieved a 50% market share in the Southwest region and 35% in the East China region, with over 80% of projects located in first-tier and new first-tier cities [5][6] - The growth rate in the East China region exceeded 80% [5][6] Company Strategy and Development Direction - The company aims to enhance service capabilities, improve cost management, and leverage technology to boost operational efficiency [11][12] - Future strategies include focusing on high-paying customers, expanding service offerings, and maintaining a strong emphasis on community service [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving a revenue and profit growth of approximately 30% to 40% in 2022, driven by continued expansion in property management and life services [20][21] - The company is optimistic about the supportive policies for the service industry and aims to enhance its market competitiveness [11][12] Other Important Information - The company plans to maintain a dividend payout ratio of 35% and aims to reward shareholders while ensuring sustainable growth [29][30] - The cash reserves are robust, with 1.1 billion RMB available for future investments and acquisitions [18][30] Q&A Session Summary Question: What are the revenue and profit growth targets for 2022? - The company anticipates a revenue and profit growth of approximately 30% to 40% in 2022, with property management and life services as key drivers [20] Question: How does the company view the sustainability of revenue contributions from the parent company? - The company has reduced its reliance on the parent company, with third-party contributions exceeding those from the parent for the first time [21][22] Question: What are the main reasons for the rapid growth in the life services segment? - Growth is attributed to an increase in customer scale and the introduction of diverse services that meet community needs [23][24] Question: What is the company's approach to maintaining its gross margin? - The company expects gross margins to remain in the range of 38% to 40% in the short term, with a focus on cost management and efficiency improvements [27][28] Question: What are the company's plans for future investments? - The company will pursue both market expansion and strategic acquisitions, focusing on complementary businesses in property management and life services [30][31]

Financial Data and Key Metrics Changes - The company achieved total revenue of RMB 2.966 billion, a year-on-year increase of 46.6% [12] - Core net profit reached RMB 448 million, up 79% year-on-year, with a core net profit margin of 15.1%, an increase of 2.8 percentage points [14] - Total gross profit was RMB 825 million, reflecting a 61.3% increase year-on-year, with an overall gross margin of 27.8%, up 2.5 percentage points [12][14] Business Line Data and Key Metrics Changes - The company’s contracted area reached 1.06 billion square meters, a 49% increase year-on-year, with managed area at 73.48 million square meters, up 62% [2][4] - Community value-added services revenue surged to RMB 789 million, a 149% increase year-on-year, with economic business revenue growing by 533% to RMB 206 million [3][12] - The commercial management segment generated revenue of RMB 462 million, a 28% increase year-on-year, with gross profit doubling to RMB 156 million [3][7] Market Data and Key Metrics Changes - The company’s third-party contract area accounted for 50.6% of total contracts, an increase of 18 percentage points year-on-year [4][5] - The total area of external contracts reached 24.96 million square meters, a 174% increase year-on-year [2][5] - The company’s focus on high-value regions resulted in 92% of managed area located in first- and second-tier cities [6] Company Strategy and Development Direction - The company aims to become a leading brand in the mid-to-high-end comprehensive service sector, focusing on property management and community value-added services [15][16] - The strategic goal for 2025 includes exceeding RMB 10 billion in revenue, with a compound annual growth rate of over 40% [19] - The company emphasizes sustainable development and enhancing service quality while maintaining a focus on core business areas [18][19] Management's Comments on Operating Environment and Future Outlook - Management highlighted the importance of focusing on service quality and operational efficiency to navigate the competitive landscape [16][18] - The company plans to leverage its strengths in community services and explore opportunities in the elderly care market [10][22] - Future growth is expected to be driven by a combination of organic growth and strategic acquisitions [20][21] Other Important Information - The company has established a comprehensive asset management system, with a focus on integrating property management and commercial operations [7][8] - The company is actively exploring community-based elderly care services, having been selected as a pilot unit for community elderly care by government authorities [10][22] - The company’s commitment to sustainability is reflected in its initiatives to reduce carbon emissions and improve energy efficiency [12][13] Q&A Session Summary Question: What is the company's positioning and development direction for the next 3-5 years? - Management stated that the company aims to become a reputable mid-to-high-end comprehensive service provider, focusing on service quality and operational excellence [15][16] Question: Will the company consider more aggressive acquisitions for scale expansion? - Management indicated that acquisitions are one method for expansion, with a focus on high-quality targets that complement existing operations [20][21] Question: What are the plans for community elderly care services? - Management shared that the company is actively involved in pilot projects for community elderly care and aims to integrate various resources to enhance service offerings [22] Question: How is the commercial business performing? - Management reported that the commercial segment is expected to see continued growth, with a focus on enhancing operational efficiency and customer satisfaction [33][34]