Investment Rating - The report maintains a "Buy" recommendation for the company [2][5] Core Views - The company achieved a revenue of 5.42 billion RMB in 2023, representing a year-on-year growth of 4.7%, and a net profit of 0.45 billion RMB, up 5.1% year-on-year [3][4] - The property management service revenue reached 3.56 billion RMB, growing by 17.5% year-on-year, while community value-added services generated 1.31 billion RMB, increasing by 2.3% year-on-year [3][4] - The company’s gross profit margin improved slightly to 26.5%, with community value-added services showing a significant increase in gross margin to 35.7% [3][4] Financial Performance Summary - The company reported a total managed area of 220 million square meters by the end of 2023, with a net increase of 25.43 million square meters from the previous year [3][4] - Non-cyclical community value-added services generated 1.05 billion RMB in revenue, marking a 12.8% increase year-on-year, accounting for 80% of community value-added service revenue [3][4] - The company’s EPS for 2024-2025 has been revised down to 0.53 RMB and 0.55 RMB respectively, with a new EPS forecast for 2026 set at 0.57 RMB [3][4]

证券研究报告·海外公司点评·地产(HS) 新城悦服务（01755.HK） 2023 年业绩公告点评：核心业务稳健增长， 2024年 03月 29日 关联方影响持续降低 证券分析师 房诚琦 买入（维持） 执业证书：S0600522100002 fangcq@dwzq.com.cn [Table_EPS] 盈利预测与估值 2022A 2023A 2024E 2025E 2026E 证券分析师 肖畅 营业总收入（百万元） 5,180 5,424 6,088 6,781 7,505 执业证书：S0600523020003 同比 19.05% 4.72% 12.24% 11.38% 10.68% xiaoc@dwzq.com.cn 归母净利润（百万元） 423.48 445.05 492.61 540.64 590.97 证券分析师 白学松 同比 -19.41% 5.09% 10.69% 9.75% 9.31% 执业证书：S0600523050001 baixs@dwzq.com.cn EPS-最新摊薄（元/股） 0.49 0.51 0.57 0.62 0.68 P/E（现价&最新摊薄） 4.20 4.00 3.61 ...

Financial Performance - Total revenue for the year ended December 31, 2023, was RMB 5,424,284, representing a 4.7% increase from RMB 5,179,553 in 2022[2] - Gross profit for the year was RMB 1,438,478, up 7.5% from RMB 1,338,140 in 2022, with a gross margin of 26.5%[2][4] - Net profit attributable to owners of the company was RMB 445,045, a 5.1% increase from RMB 423,476 in 2022[5] - Basic and diluted earnings per share were both RMB 0.52, compared to RMB 0.50 in the previous year, reflecting a 4.0% increase[5] - The company reported a decrease in developer value-added services revenue by 36.2% to RMB 554,870 from RMB 870,070 in 2022[2] - The net financial income for the year was RMB 21,939 thousand, down from RMB 25,447 thousand in 2022, representing a decrease of approximately 13.5%[19] - The income tax expense for the year was RMB 137,727 thousand, compared to RMB 152,237 thousand in 2022, reflecting a decrease of about 9.5%[20] - The company reported a goodwill impairment of RMB 55,219 thousand, significantly higher than RMB 5,404 thousand in the previous year[18] - The total cost of sales and services for the year was RMB 4,631,528 thousand, an increase from RMB 4,414,502 thousand in 2022, representing a rise of approximately 4.9%[18] - The net profit for the year was approximately RMB 507.9 million, an increase of about 7.0% from RMB 474.7 million in 2022, with a net profit margin of approximately 9.4%, up 0.2 percentage points year-on-year[60] Revenue Breakdown - Property management services revenue increased by 17.5% to RMB 3,555,106 from RMB 3,024,934 in the previous year[2] - Value-added services revenue, including community and developer services, totaled RMB 1,519,334 thousand, compared to RMB 1,691,919 thousand in the previous year, indicating a decline of approximately 10.2%[17] - Community value-added service revenue amounted to approximately RMB 1.31 billion, with a year-on-year increase of about 2.3%[41] - Developer value-added service revenue was approximately RMB 550 million, showing a year-on-year decline of about 36.2%[41] - Property management service revenue reached approximately RMB 3.56 billion in 2023, representing a year-on-year growth of about 17.5%[41] Assets and Equity - The total assets increased to RMB 6,682,643 as of December 31, 2023, compared to RMB 6,150,647 in 2022[6][9] - Current assets totaled RMB 5,552,281, up from RMB 4,699,011 in the previous year[6] - The company’s total equity increased to RMB 3,291,208 from RMB 2,908,523 in 2022[8] - Trade receivables as of December 31, 2023, amounted to RMB 2,076,436,000, an increase from RMB 1,428,629,000 in 2022, with significant contributions from both related parties and third parties[26] - Cash and cash equivalents as of December 31, 2023, totaled RMB 1,927,283,000, a slight decrease from RMB 1,973,696,000 in 2022[30] Dividends and Shareholder Information - The company declared a total dividend of RMB 139.41 million for the year, compared to RMB 134.94 million in 2022[36] - The board proposed a final dividend of RMB 0.205 per share for the year ended December 31, 2023, subject to shareholder approval[65] - The total issued and paid-up ordinary shares as of December 31, 2023, were 871,331,000 shares, with a nominal value of RMB 0.01 per share[33] Corporate Governance and Compliance - The company has adopted the Corporate Governance Code as per the Listing Rules and has complied with all applicable provisions for the year ending December 31, 2023[68] - The company has established an Audit Committee to oversee financial reporting, risk management, and internal controls[73] - The roles of the Chairman and CEO are currently held by the same individual, which the board believes provides strong and consistent leadership[68] - The company will continue to review its corporate governance practices to ensure compliance with the Corporate Governance Code[68] Future Outlook and Strategy - The company anticipates continued challenges in the economic environment but remains focused on cautious development and risk avoidance[42] - The company aims to enhance cost management and operational efficiency, with measures already implemented in the second half of 2023[43] - Community charging pile operation management services were initiated in 2023, with expectations for better revenue contributions in 2024[43] - The company will focus on optimizing existing projects and evaluating potential for further improvements in both newly acquired and previously managed properties[43]

Company Overview - As of June 30, 2023, the company signed property management service agreements covering 195 cities across 31 provinces, with a total contracted gross floor area of 322.8 million square meters[6]. - The total gross floor area under management reached 208.5 million square meters across 163 cities as of June 30, 2023[6]. - The company has been providing property management services for over 27 years, establishing a strong market presence[6]. - The company manages a diverse portfolio of properties, including residential and non-residential assets[8]. - The company ranked 11th in the top 100 Chinese property management services enterprises in 2023, up from 34th in 2010[6]. Revenue and Profitability - Revenue for the six months ended June 30, 2023, was RMB 2,681,101,000, representing an 8.7% increase compared to the same period in 2022[20]. - Net profit attributable to equity shareholders for the six months ended June 30, 2023, was RMB 293,789,000, reflecting a 30.1% increase year-over-year[20]. - Gross profit for the same period was RMB 717,574,000, with a gross margin of 26.8%, down from 29.0% in the previous year[20]. - The company reported a net profit margin of 12.4% for the six months ended June 30, 2023[20]. - The Group recorded revenue of approximately RMB 2,681.1 million in the first half of 2023, representing a year-on-year increase of approximately 8.7%[30]. Revenue Breakdown - The majority of revenue for the six months ended June 30, 2023, was derived from property management services[8]. - Revenue from property management services for the six months ended June 30, 2023, was RMB 1,694,125,000, with a year-over-year growth of 21.7%[21]. - Revenue from value-added services for the same period was RMB 986,976,000, showing a decline of 8.0% compared to the previous year[21]. - Revenue from community-related value-added services was RMB 708,091,000, with a year-over-year growth of 13.4%[21]. - Revenue from developer-related value-added services was RMB 158,908,000, a significant decline of 42.1% year-over-year[21]. Cost and Expenses - The cost of sales and services increased to approximately RMB 1,963.5 million, reflecting a 12.2% increase from RMB 1,749.8 million in the previous year[50]. - Total employee benefit expenses for the six months ended June 30, 2023, were approximately RMB 989.8 million, covering wages, pension costs, and other employee benefits[65][68]. - Selling and marketing expenses rose to RMB 41,836, up from RMB 29,168 in the same period of 2022, reflecting an increase of about 43.5%[151]. - Administrative expenses increased by approximately 3.1% to RMB 215.3 million, primarily due to the stable growth of the Group's scale and talent reserves for rapid business development[54]. Assets and Liabilities - Total assets as of June 30, 2023, reached RMB 6,712,349,000, an increase from RMB 6,150,647,000, marking a 9% growth[156]. - Total liabilities increased to RMB 3,596,833,000 from RMB 3,242,124,000, reflecting a growth of 11%[159]. - Current assets totaled RMB 5,197,662,000, up from RMB 4,699,011,000, indicating an increase of 11%[156]. - Cash and cash equivalents amounted to RMB 2,015,485,000, compared to RMB 1,973,696,000, reflecting a growth of 2%[156]. Corporate Governance - The company has complied with all applicable code provisions of the Corporate Governance Code during the six months ended June 30, 2023[84]. - The roles of chairman and chief executive officer are currently held by the same individual, which the Board believes provides strong leadership[84]. - The company aims to enhance corporate governance practices to ensure compliance with the Corporate Governance Code[84]. Shareholder Information - The company does not recommend payment of any interim dividend for the six months ended June 30, 2023, consistent with the previous year[84]. - As of June 30, 2023, the directors and chief executive hold a total of 6,605,022 shares, representing approximately 0.76% of the company's ordinary shares[97]. - Mr. Wang holds a long position of 600,000,000 shares, representing approximately 68.86% of the total shareholding[104]. Risk Management - The Group's overall risk management program focuses on minimizing potential adverse effects on financial performance due to market unpredictability[174]. - The Group's financial risk factors include market risk, credit risk, and liquidity risk[174]. - The significant judgements made by management in applying the Group's accounting policies were consistent with those applied to the 2022 Financial Statements[174]. Future Outlook - The Group's management believes that its sustainable growth strategy will positively impact long-term performance and shareholder returns[33][35]. - The company plans to acquire property management companies, with a budget allocation of 60% of the proceeds, amounting to HK$518.6 million[91]. - The company expects to complete the acquisition of complementary downstream companies on or before December 31, 2023[91].

Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 2,681,101 thousand, representing an 8.7% increase from RMB 2,465,961 thousand in the same period of 2022[2] - Net profit for the period was RMB 333,525 thousand, a 29.4% increase compared to RMB 257,699 thousand in the same period last year[3] - Basic and diluted earnings per share increased by 30.8% to RMB 0.34 from RMB 0.26[3] - The company reported a profit attributable to shareholders of approximately RMB 293.8 million, a year-on-year increase of about 30.1%[38] - Profit for the reporting period is approximately RMB 333.5 million, a year-on-year increase of 29.4%, with a net profit margin of approximately 12.4%, up 1.9 percentage points from 2022[58] Revenue Breakdown - Property management services revenue increased by 21.7% to RMB 1,694,125 thousand, while community value-added services revenue rose by 13.4% to RMB 708,091 thousand[2] - Revenue from property management services reached RMB 1,694,125 thousand for the six months ended June 30, 2023, up 21.7% from RMB 1,392,613 thousand in the same period of 2022[17] - Community value-added service revenue was approximately RMB 708.1 million, growing by about 13.4%, with a gross profit of approximately RMB 240.3 million, contributing about 33.5% to the overall gross profit[38] - The company reported a decrease in smart park services revenue by 31.2% to RMB 119,977 thousand, and a decline in developer value-added services by 42.1% to RMB 158,908 thousand[2] - Developer value-added service revenue fell by approximately 42.1% year-on-year to RMB 158.9 million, accounting for about 5.9% of total revenue[51] Cost and Expenses - The gross profit margin decreased to 26.8%, down 2.2 percentage points from 29.0% in the previous year[2] - Employee benefits expenses rose to RMB 989,774 thousand, a 23.2% increase from RMB 803,337 thousand in the previous year[19] - The group's sales and service costs increased by approximately 12.2% year-on-year to RMB 1,963.5 million, driven by overall business growth[52] - The total financial costs, including lease liabilities interest expenses, for the six months ended June 30, 2023, were RMB (708,000), compared to RMB (403,000) in the same period of 2022, an increase of 75.8%[22] Assets and Liabilities - The total assets as of June 30, 2023, amounted to RMB 6,712,349 thousand, up from RMB 6,150,647 thousand at the end of 2022[7] - As of June 30, 2023, total liabilities amounted to RMB 3,596,833 thousand, an increase of 10.9% from RMB 3,242,124 thousand as of December 31, 2022[9] - The total current liabilities increased to RMB 3,339,027 thousand as of June 30, 2023, compared to RMB 3,009,339 thousand at the end of 2022, marking a rise of 10.9%[9] - The company’s non-current liabilities totaled RMB 257,806 thousand as of June 30, 2023, up from RMB 232,785 thousand as of December 31, 2022[9] - The total equity increased to RMB 3,115,516 thousand from RMB 2,908,523 thousand at the end of 2022[8] Cash Flow and Financial Position - The company held cash balances of RMB 2,015,485 thousand as of June 30, 2023, an increase from RMB 1,973,696 thousand as of December 31, 2022[62] - The company’s cash and cash equivalents as of June 30, 2023, were not explicitly stated but are critical for assessing liquidity and operational flexibility[32] - The capital-to-debt ratio as of June 30, 2023, is 0.3%, compared to 0.1% as of December 31, 2022[59] Shareholder Information - The company declared dividends totaling RMB 139,413 thousand for the six months ended June 30, 2023, compared to RMB 134,944 thousand for the previous year, reflecting an increase of approximately 3%[35] - The company did not recommend any interim dividend for the six months ended June 30, 2023[66] - The company’s total issued and paid-up ordinary shares increased to 871,331,000 shares as of June 30, 2023, from 870,604,000 shares at the end of the previous year, reflecting a growth of approximately 0.08%[34] Corporate Governance and Compliance - The company continues to adhere to high standards of corporate governance and has complied with all applicable code provisions during the reporting period[66] - The audit committee, consisting of one non-executive director and two independent non-executive directors, is responsible for reviewing the company's financial reporting system and risk management[72] Future Outlook and Strategy - The company aims for sustainable growth, gradually reducing reliance on the real estate sector, which is expected to positively impact long-term performance and shareholder returns[39] - The company plans to utilize RMB 59.6 million of the net proceeds for acquiring downstream companies related to community value-added services by December 31, 2023[65]

S-Enjoy Service Group Co., Limited 新城悅服務集團有限公司 (Incorporated under the laws of the Cayman Islands with limited liability) Stock Code 股份代號 : 1755 獎項及榮譽 Awards and Honors 2 公司簡介 Corporate Profile 4 公司資料 Corporate Information 6 財務摘要 Financial Summary 9 主席報告 Chairman's Statement 12 管理層討論與分析 Management Discussion and Analysis 16 董事及高級管理層 Directors and Senior Management 27 董事會報告 Report of the Directors 34 企業管治報告 Corporate Governance Report 73 獨立核數師報告 Independent Auditor's Report 97 綜合全面收入表 Consolidated Statement ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 S-Enjoy Service Group Co., Limited 新城悅服務集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1755） 截至2022年12月31日止年度之業績公告 | --- | |------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | 年度業績摘要 | | ...

Property Management Services - As of June 30, 2022, S-Enjoy Service Group has signed property management service agreements covering 187 cities across 31 provinces, with a total contracted gross floor area of 297.0 million square meters[5]. - The total gross floor area under management is 172.2 million square meters, covering 150 cities[5]. - For the six months ended June 30, 2022, the majority of revenue was derived from property management services, with value-added services comprising three categories: developer-related, community-related, and smart community services[6][10]. - The company has been recognized as one of the top property services enterprises in China, moving from 34th place in 2010 to 11th in 2021 according to the China Index Academy[5]. - The company has developed a one-stop information services platform called Orange APP, enhancing service accessibility for residents and customers[5]. - S-Enjoy Service Group has been providing property management services for over 26 years, establishing a brand focused on quality and customer satisfaction[5]. - The company manages a diverse portfolio of properties, including residential and non-residential assets such as office buildings and industrial parks[7]. - The revenue model is primarily based on two business lines: property management services and value-added services, indicating a strategic focus on service diversification[6]. - The company offers extensive property management services, including maintenance, security, cleaning, and horticulture services[7]. - S-Enjoy Service Group aims to enhance its market reputation and service quality through continuous improvement and innovation in property management[5]. Financial Performance - Revenue for the six months ended June 30, 2022, was RMB 2,465,961, representing a 31.4% annual growth[19]. - Gross profit for the same period was RMB 716,129, with a gross margin of 29.0%[19]. - Net profit attributable to equity shareholders for the six months ended June 30, 2022, was RMB 225,816, reflecting a decrease of 21.2% year-on-year[19]. - Revenue from property management services reached RMB 1,392,613, showing a 51.4% annual growth[20]. - Revenue from value-added services was RMB 1,073,348, with a 12.1% annual growth[20]. - Revenue from developer-related value-added services decreased by 29.8% to RMB 274,345[20]. - Revenue from community-related value-added services increased by 113.2% to RMB 624,577[20]. - Revenue from smart community services was RMB 174,426, reflecting a 36.3% decrease[20]. - The gross profit margin for property management services was 55.5% for the six months ended June 30, 2022[22]. - The company reported a gross profit from value-added services of RMB 319,133, with a gross margin of 45.5%[22]. Assets and Liabilities - Cash and cash equivalents increased from RMB 633,456,000 in 2017 to RMB 1,831,154,000 as of June 30, 2022, reflecting a growth of approximately 189.5%[23]. - Total assets grew from RMB 813,573,000 in 2017 to RMB 5,590,401,000 as of June 30, 2022, representing an increase of about 586.5%[23]. - The liquidity ratio as of June 30, 2022, was 162.0%, indicating a strong short-term financial position[23]. - Total liabilities amounted to RMB 2,946,513,000, up from RMB 2,885,013,000, indicating an increase of around 2.09%[158]. - Total equity increased to RMB 2,643,888,000 from RMB 2,524,632,000, representing a growth of approximately 4.73%[158]. Cash Flow and Investments - The net cash generated from operating activities for the first half of 2022 was a negative RMB 381,631,000, compared to a positive RMB 41,273,000 in the same period of 2021[24]. - Cash generated from operations for the six months ended June 30, 2022, was RMB (274,175,000), a decline from RMB 103,487,000 in the same period of 2021[163]. - Net cash used in investing activities for the six months ended June 30, 2022, was RMB (295,360,000), compared to RMB (142,936,000) in the same period of 2021, indicating an increase in cash outflow[163]. - The company incurred a net cash outflow of RMB 132,389,000 for the acquisition of subsidiaries during the six months ended June 30, 2022[163]. Shareholder Information - The company completed a placing of 50,000,000 shares at a price of HK$20.80 per share, raising approximately HK$1,032 million (around RMB864.3 million) net proceeds[105]. - As of June 30, 2022, the interests of directors in the company's shares included Mr. Qi Xiaoming with 4,960,000 shares (0.57%) and Mr. Gao Xinli with 1,770,000 shares (0.20%)[110]. - The company aims to broaden its shareholder base and capital base to facilitate future development through the proceeds from the placing[107]. - As of June 30, 2022, Wang Zhenhua holds a long position of 600,000,000 shares, representing approximately 68.92% of the company's ordinary shares[118]. Risk Management and Compliance - The Group's financial risk exposure includes market risk, credit risk, and liquidity risk, which are actively managed to minimize adverse effects on financial performance[177]. - The Group has adopted new accounting standards effective from January 1, 2022, but these did not significantly impact the financial results for the six months ended June 30, 2022[173]. - The Group's interim financial information for the six months ended June 30, 2022, has been prepared in accordance with Hong Kong Accounting Standard ("HKAS") 34, indicating compliance with local accounting regulations[171]. - The Group's financial performance is subject to estimates and assumptions that may differ from actual results, highlighting the inherent uncertainties in financial reporting[179]. Employee Compensation and Share Options - Total employee benefit expenses for the six months ended June 30, 2022, were approximately RMB803.3 million, covering wages, pensions, and other benefits[77]. - The company granted a total of 5,030,000 award shares to employees under the Share Award Scheme during the six months ended June 30, 2022[139]. - The company aims to incentivize employees through the Share Award Scheme to enhance long-term growth contributions[138]. - The total number of shares that may be issued under the Share Option Scheme is capped at 80,000,000 shares, which is 10% of the shares in issue on the Listing Date[124].

Financial Performance - Revenue for 2021 reached RMB 4,350,735, representing a 51.8% annual growth compared to 2020[28]. - Gross profit for 2021 was RMB 1,341,547, with a gross margin of 30.8%[28]. - Net profit attributable to equity shareholders for 2021 was RMB 525,455, reflecting a 16.2% annual growth[28]. - Revenue from property management services in 2021 was RMB 2,100,212, with a significant annual growth of 67.3%[29]. - Revenue from value-added services reached RMB 2,250,523, showing a 39.7% annual growth[29]. - The company achieved a net profit margin of 12.8% in 2021, a decrease of 4.3% from the previous year[28]. - The gross profit from property management services in 2021 was RMB 631,870, with a gross profit margin of 47.1%[29]. - The Group's revenue for 2021 was approximately RMB 4,350.7 million, representing a 51.8% increase from approximately RMB 2,866.4 million in 2020[49]. - Profit for the year was approximately RMB 558.7 million, a 14.2% increase from RMB 489.1 million in 2020, with a net profit margin of approximately 12.8%, down 4.3 percentage points year-on-year[74]. Revenue Breakdown - Revenue from community-related value-added services increased to RMB 915,603, marking an 84.0% annual growth[29]. - Revenue from smart community services was RMB 519,663, with a 33.6% annual growth[29]. - Revenue from developer-related value-added services reached approximately RMB 815.3 million, representing a year-on-year increase of approximately 12.5%[50]. - Revenue from facility management services was approximately RMB 157.3 million, representing a year-on-year increase of approximately 112.0%[66]. - Revenue from community life services was approximately RMB 195.0 million, reflecting a year-on-year increase of approximately 206.2%[66]. Market Presence and Expansion - As of December 31, 2021, the property management services agreements covered 185 cities across 31 provinces, with a total contracted gross floor area of 278.8 million square meters[15]. - The projects under management spanned 145 cities, managing a total gross floor area of 153.5 million square meters[15]. - The company aims to expand its market presence and enhance service offerings through strategic initiatives and technology empowerment[15]. - The Group successfully expanded third-party projects by over 52.1 million sq.m. in 2021, demonstrating significant growth in this segment[60]. - The Group acquired a total of six property management companies in 2021, with five of the acquisition targets located in Shandong, Jiangsu, and Zhejiang, areas with high project density for the Group[45]. Strategic Initiatives - The company has developed a one-stop information services platform called Orange APP for residents and customers to access services via mobile devices[15]. - The Group completed the expansion of property services across various sectors through acquisitions, enhancing its service capabilities in office buildings, shopping malls, and more[43]. - The Group aims to enhance collaboration with non-residential sectors to expand its service capabilities in various fields such as office buildings and shopping malls[46]. - The company is exploring potential acquisitions to strengthen its market position, with a budget of 150 million allocated for this purpose in 2022[95]. - A new strategic partnership has been established, expected to generate an additional 100 million in revenue over the next two years[94]. Assets and Financial Position - Total assets grew to RMB 5,409,645,000 by the end of 2021, up from RMB 3,314,052,000 in 2020[31]. - Cash and cash equivalents increased to RMB 2,504,102,000 in 2021, compared to RMB 1,882,136,000 in 2020[31]. - The total equity rose to RMB 2,524,632,000 in 2021, up from RMB 1,409,589,000 in 2020[31]. - Current assets as of December 31, 2021, were RMB 4,336.3 million, a 45.3% increase from RMB 2,985.4 million at the end of 2020[74]. - The Group's financial assets at fair value through profit or loss and other comprehensive income amounted to approximately RMB 450.9 million and RMB 52.4 million respectively, accounting for about 9.3% of total assets as of December 31, 2021[77][78]. Governance and Management - The Company has confirmed the independence of all independent non-executive Directors for the year ended December 31, 2021, in accordance with Rule 3.13 of the Listing Rules[137]. - Each executive Director has a service contract with a term of three years, with a notice period of at least three months for termination[138]. - The Company’s Directors are subject to retirement by rotation at least once every three years, with specific Directors up for re-election at the upcoming AGM[134]. - The Company maintains a competitive remuneration system to attract, motivate, and retain core staff, which includes wages, performance-based pay, allowances, and social insurance[145]. - The management team emphasized the importance of sustainable practices, aiming for a 15% reduction in operational costs through green initiatives[98]. Shareholder Information - The Group's final dividend for the year ended December 31, 2021, is recommended at RMB0.155 per share, subject to shareholder approval at the AGM on June 28, 2022[105]. - The top five customers accounted for 35.5% of the total revenue for the year ended December 31, 2021, down from 43.7% in 2020[126]. - The gearing ratio remained at 0% as of December 31, 2020, and December 31, 2021, indicating no borrowings[128]. - The Company aims to broaden its shareholder base and capital base to facilitate future development through the proceeds from the placing[118]. Employee and Workforce Development - As of December 31, 2021, the Group had a total of 21,073 full-time employees in the PRC, with total employee benefit expenses amounting to approximately RMB 1,357.7 million for the year ended December 31, 2021[145]. - The company aims to increase its workforce by 20% to support growth and expansion plans in the upcoming year[98]. - The remuneration committee reviews the Group's remuneration policy and structure based on operating results and individual performance of Directors and senior management[145]. Technology and Innovation - Investment in technology development has increased by 30%, focusing on enhancing service efficiency and user experience[96]. - The management team emphasized the importance of digital transformation, with a focus on integrating AI technologies into service delivery[100]. - The company plans to invest 100 million RMB in technology development to improve service efficiency and customer experience[98].

S-Enjoy Service Group Co., Limited 新城悅服務集團有限公司 (Incorporated under the laws of the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司) | --- | --- | --- | --- | --- | --- | --- | |----------------------------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | Stock Code 股份代號 : 1755 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ● | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 0 0 o | | | | | | | | | | | | | | | ..... numming in | | | | ...