目 CONTENTS 錄 | Corporate Information | 2 | | --- | --- | | 公司資料 | 2 | | Location Map of Organic Production Base | 4 | | 獎項及榮譽 | 4 | | Chairman's Statement | 5 | | 釋義 | 6 | | Management Discussion and Analysis | 7 | | 主席報告 | 10 | | Report of the Directors | 28 | | 管理層討論及分析 | 15 | | Directors and Senior Management | 44 | | 董事及高級管理層履歷 | 39 | | Corporate Governance Report | 50 | | 企業管治報告 | 45 | | Independent Auditors' Report | 57 | | 董事會報告 | 64 | | Consolidated Statement of Profit or Loss and | | | 獨立核數師報告 | 87 ...

智通财经APP获悉，中金发布研报称，维持永升服务(01995)2025年盈利预测不变(预计25年归母净利润 5.0亿元，同比增长5%)，引入2026年归母净利润预测(预计26年归母净利润5.2亿元，同比增长5%)。维 持跑赢行业评级和目标价2.5港元，对应2025年8倍目标市盈率，隐含30%上行空间，公司当前交易于6 倍2025年市盈率。 中金主要观点如下： 2024年业绩符合市场预期 公司公布2024年业绩：营收同比增长5%至68.4亿元，归母净利润同比增长10%至4.8亿元，符合市场预 期。董事会建议年末每股派息0.07港元(年度合计0.18港元)，合计派息比例62%，末期股息对应4月1日收 盘价股息收益率为3.5%(全年累计派息对应股息收益率为9.4%)。 市场拓展表现强劲，增值服务体量则有所承压。2024年末公司在管面积较2023年末净增2,923万平米至 2.51亿平米，同比增长15%，其中年内共退出项目面积2,961万平米;第三方外拓对应年合约金额约15.8亿 元(对应合约面积超8,300万平米)，同比大幅增长36%，公司持续推进战略聚焦核心区域、10个区域公司 拓展年合约金额突破亿元。增值服务收 ...

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，概不就因本公告全部或任何部分內容而產生或因依賴該等內 容而引致的任何損失承擔任何責任。 Ever Sunshine Services Group Limited 永升服務集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1995） 截 至 2024 年 12 月 31 日止年度全年業績 摘要 – 1 – 1. 2024年收入為約人民幣6,841.1百萬元，較2023年約人民幣6,537.4百萬元增 長4.6%。 2. 本集團2024年的毛利為約人民幣1,348.7百萬元，較2023年約人民幣1,253.0 百萬元增加7.6%。 3. 2024年的溢利為約人民幣591.3百萬元，較2023年約人民幣530.0百萬元增加 約11.6%。與此同時，2024年的本公司擁有人應佔溢利為約人民幣 478.0百萬 元，較2023年約人民幣434.5百萬元增加10.0%。 4. 截至2024年12月31日止年度，董事會已派付截至2024年6月30日止六個 月的中期股息每股0.0839港元（202 ...

2025 年 3 月 1 日 公司研究 2025 年初外拓积极，慷慨分红股息率具备吸引力 ——永升服务（1995.HK）跟踪报告 要点 事件：永升服务 2025 年初新拓展项目超过 50 个。 2 月 24 日永升服务公众号发布消息，2025 年初永升服务新拓项目 50 余个，公 司坚持城市深耕，实现有效规模增长，与南京肯德基、西安中国工商银行、京东 京航仓储等项目开展深度合作，拓展多元服务版图，满足客户的多元化服务需求。 点评：基础物管增长稳健，对外拓展积极，股息率具备吸引力。 1）基础物管增长稳健，地产关联业务占比降低。2024H1 公司实现收入 33.7 亿 元，同比增长 5.9%，毛利 7.2 亿元，同比增长 11.4%，归母净利润 2.65 亿元， 同比增长 10.3%。2023 年由于房地产行业下行，关联方经营承压，影响公司发 展速度，但经过业务调整，2024H1 公司业绩增速有所回暖，2024H1 基础物管/ 社区增值/非业主增值/城市服务板块分别实现收入 24.6/4.0/3.6/1.5 亿元，同比 增速分别为+12.4%/-2.6%/-4.1%/-28.5%，基础物管收入占比达到 73.1% ...

2025 年 3 月 1 日 公司研究 2025 年初外拓积极，慷慨分红股息率具备吸引力 ——永升服务（1995.HK）跟踪报告 要点 事件：永升服务 2025 年初新拓展项目超过 50 个。 2 月 24 日永升服务公众号发布消息，2025 年初永升服务新拓项目 50 余个，公 司坚持城市深耕，实现有效规模增长，与南京肯德基、西安中国工商银行、京东 京航仓储等项目开展深度合作，拓展多元服务版图，满足客户的多元化服务需求。 点评：基础物管增长稳健，对外拓展积极，股息率具备吸引力。 1）基础物管增长稳健，地产关联业务占比降低。2024H1 公司实现收入 33.7 亿 元，同比增长 5.9%，毛利 7.2 亿元，同比增长 11.4%，归母净利润 2.65 亿元， 同比增长 10.3%。2023 年由于房地产行业下行，关联方经营承压，影响公司发 展速度，但经过业务调整，2024H1 公司业绩增速有所回暖，2024H1 基础物管/ 社区增值/非业主增值/城市服务板块分别实现收入 24.6/4.0/3.6/1.5 亿元，同比 增速分别为+12.4%/-2.6%/-4.1%/-28.5%，基础物管收入占比达到 73.1% ...

Financial Performance - Ever Sunshine Services Group Limited reported a revenue increase of 15% year-over-year for the first half of 2024, reaching HKD 1.2 billion[1]. - The company achieved a net profit margin of 12%, translating to a net profit of HKD 144 million for the same period[1]. - In the first half of 2024, the company achieved a revenue growth of approximately 5.9% year-on-year, reaching RMB 3,371.0 million[15]. - The gross profit rose by 11.4% to RMB 716.8 million, with net profit attributable to shareholders increasing by 10.3% to RMB 265.1 million[15]. - The company recorded revenue of approximately RMB 3,371.0 million for the reporting period, representing an increase of about 5.9% compared to RMB 3,183.7 million in the same period of 2023[50]. - Revenue from property management services for the first half of 2024 was approximately RMB 2,462.5 million, a growth from RMB 2,190.1 million in the same period of 2023[25]. - The company reported a total of 2,279 thousand RMB in revenue from the fee-based model, accounting for 0.1% of total revenue, while the contract-based model accounted for 99.9%[36]. - The company reported a significant increase in cash and cash equivalents at the end of the period, totaling RMB 2,256,561 thousand, compared to RMB 1,750,105 thousand at the end of the previous year[141]. User Growth and Market Expansion - User data indicates a growth in service subscriptions by 20%, with a total of 500,000 active users as of June 30, 2024[1]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share by the end of 2025[1]. - The company plans to shift property management services from public domains to household levels to meet expanding customer needs[17]. - The company aims to enhance customer experience through community value-added services, including home living services and parking management[21]. Strategic Initiatives - New product launches in smart city services are expected to contribute an additional HKD 200 million in revenue by the end of 2024[1]. - Strategic acquisitions are being considered to enhance service capabilities, with a budget of HKD 300 million allocated for potential mergers[1]. - Future strategies include expanding community value-added services and increasing investment in technology research and development[17]. - The company emphasizes a "platform + ecosystem" development strategy, leveraging technological innovation for diversified growth[23]. Operational Efficiency - Ever Sunshine Services Group Limited aims to improve operational efficiency by implementing new digital solutions, targeting a 15% reduction in operational costs by 2025[1]. - The company is committed to optimizing its property management portfolio by reallocating resources to more profitable contracts[24]. - The company plans to enhance its property management capabilities by increasing the number of managed properties and optimizing its marketing team to secure more property management contracts[45]. - The company will continue to invest in technology and smart operations to improve service quality and operational efficiency, including upgrading internal management systems and establishing a big data information sharing platform[49]. Challenges and Adaptations - The company is focusing on enhancing service quality and customer experience amid challenges in the real estate sector[16]. - The company continues to adapt its strategies to mitigate the negative impacts of the challenging real estate market environment in China[28]. - The company has strategically exited low-margin and less sustainable community value-added services to focus on higher-quality customer needs[37]. Shareholder and Governance Information - The company has adopted a corporate governance code to enhance accountability and shareholder value[94]. - The company is focused on maintaining strong governance and transparency in its operations and shareholding structure[98]. - The company has established a family trust structure involving multiple entities, ensuring control over significant shareholdings[100]. - The company has a significant concentration of ownership, with major shareholders controlling approximately 84.94% of the issued shares[105]. Acquisitions and Investments - In January 2023, the company completed the acquisition of 90% of Beijing Hangteng Property Management Co., aiming to expand its operational scale and market share[164]. - The cash consideration paid for the acquisition of Beijing Hangteng was RMB 58,124,000[165]. - The identifiable net assets acquired from Beijing Hangteng amounted to RMB 27,342,000, resulting in goodwill of RMB 33,516,000[167]. - Revenue from the newly acquired business of Beijing Hangteng was RMB 35,003,000 for the current year, contributing RMB 2,050,000 to profit[168]. Financial Position and Cash Flow - The net cash inflow from operating activities was RMB 101.6 million, maintaining positive cash flow[15]. - The company's borrowings amounted to approximately RMB 383 million, a decrease from RMB 450 million as of December 31, 2023[78]. - The company reported a net cash outflow from financing activities of RMB 204,801 thousand, compared to RMB 28,621 thousand in the previous year, indicating increased financial strain[141]. - The company’s total liabilities decreased from RMB 103,903 thousand as of December 31, 2023, to RMB 83,367 thousand as of June 30, 2024, a decrease of approximately 19.83%[131]. Employee and Talent Development - The company welcomed hundreds of university graduates in June, emphasizing the importance of nurturing young talent for future growth[18]. - The company is committed to talent acquisition and organizational upgrades to foster a passionate and capable team aligned with its development goals[48]. Dividend and Share Repurchase - The company announced an interim dividend of HKD 0.0839 per share and a special dividend of HKD 0.0336 per share, totaling approximately HKD 145.0 million and HKD 58.1 million respectively[96]. - The company repurchased 15,024,000 of its own ordinary shares at a total cost of RMB 20,180 thousand during the six months ended June 30, 2024[133].

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份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。 Ever Sunshine Services Group Limited 永升服務集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1995） 截 至 2024 年 6 月 30 日止六個月 中期業績 | --- | --- | |-------|-----------------------------------------------------------------------------| | | | | 摘要 | | | 1. | 截至 2024 年 6 月 30 日止六個月收入約為人民幣 3,371.0 百萬元，較 2023 年同 | | | 期約人民幣 3,183.7 百萬元增長約 5.9% 。 | | 2. | 本集團截至 2024 年 6 月 30 日止六個月毛利約為人民幣 716.8 百萬元，較 2023 | | | 年同期約人民幣 643.3 百萬元增長約 11.4% ...

目 錄 公司資料 2 獎項及榮譽 4 釋義 6 主席報告 10 管理層討論及分析 13 董事及高級管理層履歷 37 企業管治報告 43 董事會報告 59 獨立核數師報告 81 綜合損益及其他全面收益表 87 綜合財務狀況表 88 綜合權益變動表 90 綜合現金流量表 92 綜合財務報表附註 94 財務概要 188 公司資料 董事會 薪酬委員會 執行董事 俞鐵成先生（主席） 林中先生 林中先生（主席） ...

本人謹代表董事會，對我們的客戶、供應商及股東一直以來對本集團的支持由衷致 謝，亦感謝全體管理人員及員工於年內一直辛勤工作與付出貢獻。 | --- | --- | --- | --- | --- | |-------|-------|-------|-------|--------------------------| | | | | | 承董事會命 | | | | | | 旭輝永升服務集團有限公司 | | | | | | 主席 | | | | | | 林中 | | | | | | | | | | | | | 香港，2024年3月27日 於本公告日期，執行董事為林中先生、周洪斌先生及周迪先生；非執行董事為崔曉青女士；及獨立 非執行董事為馬永義先生、俞鐵成先生及張偉聰先生。 – 61 – 本公司股東名冊將於下列期間關閉： (i) 於2024年6月3日至2024年6月6日（首尾兩日包括在內），於此期間不會進行 股份過戶登記手續，以釐定股東出席股東週年大會並於會上投票的權利。為符 合資格出席股東週年大會並在會上投票，所有轉讓文件連同相關股票必須不遲 於2024年5月31日下午四時三十分送呈本公司的香港股份過戶登記處香 ...

公司研究 事件：旭辉永升服务持续回购股份。 ——旭辉永升服务（1995.HK）跟踪报告 | --- | --- | --- | --- | --- | --- | |----------------------|-------|--------|--------|-------|-------| | 营业收入（百万元） | 4,703 | 6,276 | 6,126 | 6,388 | 6,876 | | 营业收入增长率 | 50.8% | 33.5% | -2.4% | 4.3% | 7.6% | | 归母净利润（百万元） | 617 | 480 | 289 | 374 | 457.5 | | 归母净利润增长率 | 58.1% | -22.2% | -39.8% | 29.4% | 22.4% | | EPS （元） | 0.35 | 0.27 | 0.17 | 0.21 | 0.26 | | ROE （归母，摊薄） | 13.2% | 9.9% | 5.8% | 7.1% | 8.3% | | P/E | 3.7 | 4.7 | 7.8 | 6.0 | 4.9 | | P/B | 0.5 | 0.5 | ...