12个中央部门、13家全国性行业协会、各地方和头部平台企业积极参与，合力推出160余项重点活动， 为全国消费者带来服务消费的饕餮盛宴。作为活动承办地，江苏和南京分别发布江苏省服务消费惠享礼 包和南京市"宁享服务"消费臻选指南，让万千市民乐享美好服务，共创美好生活。 2025年全国"服务消费季"暨"苏新服务·惠享生活"活动在宁启动 让万千市民乐享美好服务 □ 南京日报/紫金山新闻记者 黄琳燕 6月3日晚，金陵STYLE浪漫中心华灯初上，玄武湖畔的晚风裹着美食香气与欢笑声扑面而来。2025年 全国"服务消费季"暨"苏新服务·惠享生活"活动启动仪式在此拉开帷幕。 踏入市集，米其林美食摊位前香气四溢，引人垂涎欲滴。一旁的房车露营体验区，不少家长带着孩子走 进房车，感受户外自由自在的露营生活。特色运动项目体验区，年轻人在飞盘、射箭等项目中尽情挥洒 汗水，欢呼声、笑声交织在一起。 "市集依托玄武湖'城市绿心'生态优势与金陵STYLE浪漫中心融合消费场景，以全生命周期的生活化场 景展示服务消费内容，不仅是要浓厚服务消费氛围，激发服务消费潜力，也是希望通过这样的方式践行 绿色理念，倡导低碳节能生活新风尚。"市商务局相关负责人 ...

Financial Performance - The company reported a consolidated profit of $150 million for the fiscal year, representing a 20% increase compared to the previous year[128]. - The company provided a revenue guidance of $180 million for the next fiscal year, indicating a projected growth of 20%[128]. - The Group's revenue for the year ended December 31, 2024, was RMB 924,601,000, an increase from RMB 725,104,000 in 2023, representing a growth of approximately 27.5%[80]. - Revenue from city services rose by approximately 37.1% from approximately RMB453.1 million in 2023 to approximately RMB621.0 million in 2024, driven by the expansion of integrated city services[123]. - Revenue from commercial property management services increased by approximately 16.6% from approximately RMB195.2 million in 2023 to approximately RMB227.6 million in 2024, due to more value-added services provided[123]. - Revenue from residential property management services grew by approximately 2.5% from approximately RMB60.1 million in 2023 to approximately RMB61.6 million in 2024, mainly from increased parking fee revenue[123]. - The Group's gross profit increased by approximately 10.1% from approximately RMB147.0 million in 2023 to approximately RMB161.9 million in 2024, mainly due to business expansion[130]. - The Group's gross profit margin decreased from approximately 20.3% in 2023 to approximately 17.5% in 2024[132]. User Growth and Market Expansion - User data showed a growth of 15% in active users, reaching a total of 1.2 million users by the end of the year[128]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share within the next two years[128]. - In 2024, the company accelerated its market expansion across Jiangsu Province, achieving project implementation in seven cities including Changzhou, Lianyungang, Yancheng, Yangzhou, Huaian, Zhenjiang, and Taizhou[21]. - The Group plans to expand its business operations in Jiangsu Province, reaching half of the province's cities by 2024, with a goal of full provincial coverage by 2025[57]. - The Group aims to expand its business coverage to all cities in Jiangsu Province and explore projects in other provinces, enhancing its brand influence and competitive strength[103]. Product and Service Development - New product launches contributed to a 25% increase in sales, with three major products introduced during the year[128]. - Research and development expenses increased by 30%, focusing on innovative technologies to improve service efficiency[128]. - The Group initiated the full-scale development of an intelligent property management system in 2024, with Phase I completed, including core modules for operational efficiency[62]. - The Group introduced multiple autonomous sweeping vehicles in 2024, aiming to increase mechanization coverage in Gaoxin District, Suzhou[61]. Customer Satisfaction and Service Quality - Customer satisfaction ratings improved by 15%, reflecting the effectiveness of new service initiatives implemented during the year[128]. - The Yunxi Garden project achieved a 100% occupancy rate and a 99.4% resident satisfaction rate, contributing to the professional management of talent housing projects[29]. - The Group's long-term cooperation with SND Group has contributed to a high retention rate of properties under management, indicating strong client satisfaction[67]. Strategic Acquisitions and Investments - A strategic acquisition was completed, enhancing the company's service offerings and expected to add $30 million in annual revenue[128]. - The Group successfully acquired land use rights in Suzhou for RMB49.57 million, which will be developed into office buildings[196]. - The company plans to develop the Suzhou land into office buildings to meet its demand for office space[199]. Operational Efficiency and Cost Management - The company aims to reduce operational costs by 10% through efficiency improvements and process optimizations[128]. - The Group's cost of sales increased from approximately RMB578.1 million in 2023 to approximately RMB762.7 million in 2024, reflecting the increase in services provided due to new projects[124]. - Subcontracting costs rose from RMB259.0 million in 2023 to RMB354.4 million in 2024, primarily due to business expansion and optimization of operations[125]. - The Group is implementing operational efficiency optimization measures to mitigate the impact of increased costs due to regulatory changes[116]. Financial Position and Assets - The Group's trade receivables increased by approximately 48.5% from approximately RMB295.1 million as of December 31, 2023, to approximately RMB438.3 million as of December 31, 2024, primarily due to the expansion of city services[161]. - The Group's total current assets increased by approximately 9.2% from approximately RMB868.0 million as of December 31, 2023, to approximately RMB947.9 million as of December 31, 2024[175]. - The Group's net current assets decreased by approximately 1.4% from approximately RMB357.1 million as of December 31, 2023, to approximately RMB352.1 million as of December 31, 2024[175]. - The Group's gearing ratio improved to 34.1% as of December 31, 2024, compared to 36.1% as of December 31, 2023[187]. Challenges and Risks - The Group's operations are heavily reliant on the Yangtze River Delta Region, making it vulnerable to adverse government policy changes[109]. - The Group's ability to renew city service agreements with local governments may be affected by changes in government plans and budgets[113]. - The local minimum wage in Suzhou increased from RMB 2,280 to RMB 2,490 per month in 2024, impacting the Group's human resource costs[116]. - The Group's total assets may decrease in the future due to potential fair value losses on equity investments designated at fair value through other comprehensive income[159].

Financial Performance - For the fiscal year ending December 31, 2024, the group's total revenue was approximately RMB 924.6 million, an increase of about 27.5% compared to RMB 725.1 million for the same period in 2023[5]. - The group's gross profit for the fiscal year ending December 31, 2024, was approximately RMB 161.9 million, up about 10.1% from RMB 147.0 million in 2023, with a gross margin of 17.5%, a decrease of 2.8 percentage points year-over-year[5]. - The group's profit for the fiscal year ending December 31, 2024, was approximately RMB 66.2 million, a decrease of about 17.4% from RMB 80.1 million in 2023[5]. - Total customer contract revenue for the year ended December 31, 2024, reached RMB 910,208 thousand, an increase from RMB 708,398 thousand in 2023, representing a growth of approximately 28.5%[23]. - The group's profit before tax for 2024 is RMB 87,816,000, a decrease from RMB 104,536,000 in 2023, representing a decline of approximately 16%[30]. - The basic earnings per share attributable to ordinary equity holders for 2024 is RMB 0.645, down from RMB 0.736 in 2023, indicating a decrease of approximately 12%[33]. - Net profit decreased from approximately RMB 80.1 million for the year ended December 31, 2023, to approximately RMB 66.2 million for the year ended December 31, 2024[95]. Revenue Breakdown - Revenue from urban services amounted to RMB 621,046,000 in 2024, up 37.1% from RMB 453,111,000 in 2023[22]. - Revenue from commercial property management services was RMB 227,576,000 in 2024, representing a 16.5% increase from RMB 195,191,000 in 2023[22]. - Revenue from residential property management services increased to RMB 61,586,000 in 2024, a rise of 2.5% from RMB 60,096,000 in 2023[22]. - Rental income decreased to RMB 14,393,000 in 2024 from RMB 16,706,000 in 2023, reflecting a decline of 13.9%[22]. - Approximately RMB 208,447,000 of revenue for the year ended December 31, 2024, came from a single customer, accounting for over 10% of total revenue[21]. Assets and Liabilities - Total non-current assets increased to CNY 770,763,000 from CNY 748,592,000, representing a growth of approximately 2.9% year-over-year[7]. - Current assets rose to CNY 947,895,000, up from CNY 868,041,000, indicating an increase of about 9.2% compared to the previous year[7]. - Total liabilities decreased slightly to CNY 595,757,000 from CNY 510,929,000, reflecting a year-over-year increase of approximately 16.6%[8]. - Net assets increased to CNY 838,787,000, compared to CNY 810,894,000, showing a growth of about 3.4% year-over-year[8]. - The total liabilities for the group as of December 31, 2024, are RMB 1,228,000,000, an increase from RMB 848,000,000 in 2023, indicating a rise of approximately 45%[26]. Dividends and Shareholder Information - The board of directors proposed a final dividend of RMB 0.3602 per share (tax included) for the fiscal year ending December 31, 2024[5]. - The proposed final dividend for 2024 is RMB 0.3602 per share, compared to RMB 0.3351 per share in 2023, reflecting an increase of approximately 7%[31]. - The company proposed a final dividend of RMB 0.3602 per share for the year ending December 31, 2024, compared to RMB 0.3351 per share for the year ending December 31, 2023, reflecting an increase of approximately 20.4%[138]. Operational Highlights - The total construction area of the group as of December 31, 2024, was approximately 25.6 million square meters, an increase of about 8.9 million square meters compared to December 31, 2023[5]. - As of December 31, 2024, the company has contracted to provide project management services for 179 projects, with a total contracted building area of approximately 2.56 million square meters, a 53.3% increase from 1.67 million square meters in 2023[51]. - The company managed 62 public construction projects with a total built area of 4,501.5 thousand square meters as of December 31, 2024, compared to 45 projects and 3,421.6 thousand square meters in 2023[65]. - The company has established various municipal service agreements with local governments in Suzhou, which may be affected by changes in government relations[78]. Strategic Focus and Market Position - The company focuses on urban services and property management, establishing a strong market position in the Yangtze River Delta region, particularly in Suzhou[48]. - The company is shifting its strategic focus towards non-residential projects, reallocating resources from residential projects to capitalize on the growing demand for professional commercial property management services[53]. - The company is actively diversifying its urban services and property management portfolio, responding to policy directions in Suzhou High-tech Zone[55]. - The company aims to diversify its customer base by leveraging its increasing brand recognition and market position[60]. Compliance and Governance - The company has complied with the corporate governance code and has maintained high standards of corporate governance[134]. - The company has established an Audit Committee consisting of three members, ensuring compliance with relevant regulations and standards[139]. - The financial statements for the year ending December 31, 2024, have been reviewed by Ernst & Young according to Hong Kong accounting standards[143]. Future Outlook - The group aims to expand its service coverage to all cities in Jiangsu Province by 2025 and explore projects in other provinces[73]. - The company plans to enhance its investment in technology and smart operations to improve customer experience and operational efficiency[56]. - The company is adopting a more cautious approach in selecting acquisition targets due to the downturn in the Chinese real estate market[133].

Company Locations and Offices - The company's registered office and headquarters are located at Room 3001, 30/F, SND International Commerce Tower, 28 Shishan Road, Gaoxin District, Suzhou, Jiangsu Province, PRC[3] - The principal place of business in Hong Kong is at 40/F, Dah Sing Financial Centre, 248 Queen's Road East, Wan Chai, Hong Kong[3] - The H Share Registrar is Computershare Hong Kong Investor Services Limited, located at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Wan Chai, Hong Kong[4] - The company's auditor is Ernst & Young, located at 27/F, One Taikoo Place, 979 King's Road, Quarry Bay, Hong Kong[4] - The compliance advisor for the company is Dongxing Securities (Hong Kong) Company Limited, located at 7503B–7504, 75/F, International Commerce Centre, 1 Austin Road West, Kowloon, Hong Kong[4] Financial and Legal Advisors - The company's principal banks include Industrial and Commercial Bank of China, Agricultural Bank of China, Hua Xia Bank, Bank of Communications (Hong Kong) Limited, and Chiyu Banking Corporation Limited[5] - The company's legal advisors include Grandall Zimmern Law Firm for Hong Kong law and Jiangsu He & Partners Law Firm for PRC law[4] Company Information and Stock Details - The company's website is www.suxinfuwu.com[5] - The stock code for the company on the Hong Kong Stock Exchange is 2152[5] - The Group's H shares were listed on the Main Board of the Stock Exchange on 24 August 2022 by way of global offering[78] Board of Directors - The company's board of directors includes executive directors Mr. Cui Xiaodong (Chairman), Mr. Zhou Jun, and Mr. Chen Mingdong (appointed with effect from 14 June 2024), and non-executive directors Ms. Li Xin, Mr. Cao Bin, and Mr. Zhang Jun[2] Company Achievements and Rankings - The Group has been recognized as one of the Top 100 Property Management Companies of China for nine consecutive years since 2016[79] - The Group was ranked 33rd among the 2024 Top 100 Property Management Companies of China by CIA in terms of overall strength[79] - The Group was honored as one of the "Leading Smart City Services Companies in China" by CIA in 2024[79] - Shishan Cultural Square, a project under management, was accredited as "China Five-Star Property Service Project in 2024"[79] - The Group was ranked 33rd among the Top 100 Property Management Companies in China in 2024[80] - The Group's Lion Mountain Cultural Plaza project was awarded the "2024 China Five-Star Property Service Project"[80] Property Management and Services - The Group's total contracted gross floor area reached 18.0 million sq.m. as of 30 June 2024, representing a 14.6% increase compared to 30 June 2023[85][86] - The Group managed 139 projects with a total GFA of over 16.5 million sq.m. as of 30 June 2024[85][86] - The Group's basic residential property management services grew significantly, with GFA under management increasing from 7,943.7 thousand sq.m. in 2023 to 9,506.6 thousand sq.m. in 2024, a 19.7% increase[90] - The Group provided municipal infrastructure services to 32 projects as of 30 June 2024[93][96] - The Group managed public facilities with a GFA of approximately 3.8 million sq.m. as of 30 June 2024[94][97] - The Group operated three waste collection centers with a maximum daily processing capacity of 1,200 tons of household waste and 50 tons of bulky waste as of 30 June 2024[99] - The Group's basic commercial property management services expanded, with GFA under management increasing from 3,453.1 thousand sq.m. in 2023 to 3,849.4 thousand sq.m. in 2024, an 11.5% increase[90] - The Group's total number of managed projects increased from 111 in 2023 to 139 in 2024, a 25.2% growth[90] - The company operates three waste treatment centers with a maximum daily processing capacity of 1,200 tons of domestic waste and 50 tons of bulky waste as of June 30, 2024[101] - The company manages 61 commercial properties with a total GFA of approximately 9.5 million sq.m. and 31 residential properties with a total GFA of approximately 3.2 million sq.m. as of June 30, 2024[103][106] Financial Performance - Group revenue increased by 28.3% from RMB348.8 million in H1 2023 to RMB447.5 million in H1 2024, driven by growth in city services and commercial property management[118][120] - City services revenue grew 39.9% to RMB288.3 million, primarily due to expansion of municipal infrastructure services and addition of public facilities like cultural and sports complexes[118][120] - Commercial property management revenue increased 27.7% to RMB119.4 million, driven by growth in managed commercial property sales offices and industrial park projects[118][120] - Residential property management revenue decreased 16.3% to RMB32.2 million, mainly due to the closure of the Haixu Lanting project[119][120] - Property leasing revenue declined 28.9% to RMB7.6 million, primarily due to lower occupancy rates at Jinlin Apartment[119][120] - Gross profit increased 18.5% to RMB88.1 million, with a gross profit margin of 19.7%, down from 21.3% in H1 2023[127][128] - Cost of sales rose to RMB359.5 million, up from RMB274.5 million in H1 2023, primarily due to new projects[124][125] - City services gross profit margin decreased to 20.3% from 22.0%, while commercial property management margin improved to 18.3% from 17.7%[127] - Property leasing gross profit margin dropped significantly to 62.1% from 84.1% in H1 2023[127] - Residential property management gross profit margin declined to 8.5% from 9.0%[127] - Gross profit for city services increased by 29.6% from RMB45.3 million to RMB58.7 million due to expanded integrated city services and new public facilities[130] - Gross profit for commercial property management services rose by 32.4% from RMB16.5 million to RMB21.9 million, driven by increased management of sales offices and industrial parks[130] - Gross profit for residential property management services decreased by 20.8% from RMB3.5 million to RMB2.7 million due to the closure of the Haixu Lanting project[130] - Gross profit for property leasing services dropped by 47.5% from RMB9.0 million to RMB4.7 million due to lower occupancy rates at Jinlin Apartment[130] - Other income and gains decreased by 41.5% from RMB11.5 million to RMB6.7 million, primarily due to reduced exchange differences[130] - Other expenses surged by 20.9 times from RMB0.6 million to RMB13.0 million due to fair value losses on investment properties[133] - Finance costs decreased by 13.5% from RMB7.9 million to RMB6.8 million due to lower bank loan interest rates and partial loan repayments[134] - Profit for the period decreased from RMB34.5 million to RMB32.4 million, mainly due to increased other expenses[136] Financial Position and Assets - Investment properties decreased from RMB332.7 million to RMB322.2 million due to a decline in the fair value of Jinlin Apartment[145] - Equity investments designated at fair value through other comprehensive income stood at RMB4.8 million as of 30 June 2024[146] - Trade receivables increased by 31.2% from RMB295.1 million as of 31 December 2023 to RMB387.2 million as of 30 June 2024, driven by the expansion of city services and unsettled payments for integrated city services projects[154][155] - Trade payables increased by 25.4% from RMB301.3 million as of 31 December 2023 to RMB377.8 million as of 30 June 2024, primarily due to unsettled payments for integrated city services projects[154][155] - Contract liabilities decreased by 24.3% from RMB53.7 million as of 31 December 2023 to RMB40.6 million as of 30 June 2024, mainly due to a decrease in advance receipts[156][159] - Total current assets increased by 1.6% from RMB868.0 million as of 31 December 2023 to RMB881.8 million as of 30 June 2024, driven by the expansion of city services and increased trade receivables[157][160] - Total current liabilities increased by 9.9% from RMB510.9 million as of 31 December 2023 to RMB561.6 million as of 30 June 2024, primarily due to increased trade payables[157][160] - Net current assets decreased by 10.3% from RMB357.1 million as of 31 December 2023 to RMB320.3 million as of 30 June 2024[157][160] - Cash and cash equivalents amounted to RMB313.8 million as of 30 June 2024, with RMB190.6 million denominated in RMB and HK$135.0 million (equivalent to RMB123.2 million) in Hong Kong dollars[158][161] - Interest-bearing bank loans amounted to RMB114.1 million as of 30 June 2024, all denominated in RMB and carried at fixed rates[164] - The Group's total borrowings as of 30 June 2024 were RMB114.063 million, a decrease from RMB119.063 million as of 31 December 2023[165] - Capital expenditures for the six months ended 30 June 2024 were RMB13.3 million, significantly lower than the RMB49.0 million recorded as of 31 December 2023[168] - Other liabilities as of 30 June 2024 were RMB175.6 million, slightly increased from RMB174.0 million as of 31 December 2023[170] - The Group's gearing ratio for the six months ended 30 June 2024 was 35.8%, a slight decrease from 36.1% as of 31 December 2023[171] - The Group's bank loans of approximately RMB114.1 million were secured by investment properties and buildings with a carrying value of RMB52.4 million as of 30 June 2024[171] Strategic Plans and Investments - The company plans to expand its business scale through mergers and acquisitions, equity investments, and strategic cooperation to improve project bidding rates and business growth rates[105][108] - The company aims to fully enter the Jiangsu Province market, optimizing service strategies and expanding its service range to establish a comprehensive business network[110][111] - The company will enhance service quality and customer satisfaction through regular feedback surveys, staff training, and customized property solutions[112][113] - The company will accelerate digital development by promoting integrated customer service centers and WeChat Apps, improving service quality and efficiency through smart property management systems[112][113] - The Group successfully acquired land use rights in Suzhou for RMB49.57 million, with full payment completed by the report date[184] - The company successfully acquired the land use rights for Suzhou land at a cost of RMB 49.57 million, paid in two installments of 50% each, with full payment completed by the report date[187] - The company raised net proceeds of approximately HK$176.3 million from the Global Offering, including HK$8.78 million from the partial exercise of the Over-allotment Option[189] - The company reallocated HK$52.9 million of net proceeds from "Acquisition of office building in Hong Kong for own use and leasing" to fund the "Acquisition of the land in the PRC"[190] - The company plans to utilize the net proceeds according to the plans set out in the prospectus dated 10 August 2022 and the 2024 UOP Announcement, with no other changes to the use of remaining unutilized net proceeds[191] - The company allocated HK$52.9 million for the acquisition of other property management companies and companies providing city services and property management services, with completion expected by 31 December 2024[192] - The company allocated HK$52.9 million for strategic investments in waste collection centers and companies providing operational and management services to waste collection centers, with completion expected by 31 December 2024[192] - The company allocated HK$26.4 million for the establishment of its own brand "Suxin Leju" and the launch of apartment management and operational services for housing for talents, with completion expected by 31 December 2024[193] - The company allocated HK$14.1 million for investments in companies providing elderly care, nursing, and medical services, with no specific completion date provided[193] - As of 30 June 2024, the company had unutilized net proceeds of HK$52.9 million, with expected full utilization by 31 December 2024[193] - Technological investment of HK$71 million allocated for the Group's technologies and intelligent operations, with full utilization expected by 31 December 2024[197] - HK$53 million allocated for talent training and retention, to be fully utilized by 31 December 2024[197] - HK$17.6 million allocated for working capital and other general corporate purposes, with full utilization expected by 31 December 2024[197] - Total net proceeds allocated for various purposes amounted to HK$176.30 million, with HK$108.08 million remaining unutilized as of 30 June 2024[197] - HK$17.6 million of net proceeds allocated for the establishment of the Group's own brand "Suxin Leju" and launch of apartment management services, with actual utilization delayed to 1 January 2024[198][199] - Net proceeds for the "Suxin Leju" project amounted to HK$24.11 million for the six months ended 30 June 2024[198][199] - Funds were reallocated to support the Company's acquisition of Suzhou land[198][199] Risk Management and Financial Instruments - The Group's major financial instruments include bank loans, finance leases, and other liabilities, with risks managed through credit verification and liquidity monitoring[174][175][176] - The Group does not implement any foreign currency hedging policy but closely monitors foreign exchange exposure[177] Subsequent Events and Acquisitions - No significant investments, acquisitions, or disposals of subsidiaries, associates, or joint ventures occurred during the six months ended 30 June 2024[183] - No subsequent events after 30 June 2024 have had a material impact on the Group's operating and financial performance[186]

Financial Performance - For the six months ended June 30, 2024, the total revenue of Suxin Joyful Life Services Co., Ltd. was approximately RMB 447.5 million, an increase of about 28.3% compared to RMB 348.8 million for the same period in 2023[2]. - The gross profit for the same period was approximately RMB 88.1 million, representing an increase of about 18.5% from RMB 74.3 million in 2023, with a gross margin of 19.7%[2]. - The profit for the period was approximately RMB 32.4 million, a decrease of about 6.3% from RMB 34.5 million in the same period of 2023[2]. - The net profit attributable to equity holders of the company was RMB 31.2 million, down from RMB 32.6 million in 2023[1]. - Basic earnings per share for the period were RMB 0.31, compared to RMB 0.32 in the previous year[1]. - The group's profit before tax for the six months ended June 30, 2024, was RMB 359,473,000, an increase from RMB 274,450,000 for the same period in 2023, representing a growth of approximately 30.9%[22]. - The net profit for the period decreased by approximately 6.3% from RMB 345 million to RMB 324 million, mainly due to increased other expenses[71]. Revenue Breakdown - Revenue from urban services was RMB 288,319,000, up 39.8% from RMB 206,069,000 in the previous year[20]. - Revenue from commercial property management services increased to RMB 119,416,000, representing a 27.7% rise from RMB 93,538,000[20]. - Revenue from residential property management services decreased by approximately 16.3% to about RMB 32.2 million, mainly due to the withdrawal of the Haishulan project[60]. - Revenue from property leasing services fell by approximately 28.9% to about RMB 7.6 million, primarily due to a decrease in the occupancy rate of the Jinlin Apartment[60]. Assets and Liabilities - As of June 30, 2024, total non-current assets increased to RMB 778,030,000 from RMB 748,592,000 as of December 31, 2023, representing a growth of approximately 3.5%[6]. - Current assets totaled RMB 881,833,000, up from RMB 868,041,000, indicating an increase of about 1.9%[6]. - Total current liabilities increased to RMB 561,583,000 from RMB 510,929,000, marking an increase of around 9.9%[7]. - The company's total liabilities increased, reflecting ongoing operational demands and project commitments[81]. Cash Flow and Investments - The total value of cash and cash equivalents decreased to RMB 313,757,000 from RMB 397,318,000, a decline of about 21.1%[6]. - The company successfully acquired land use rights in Suzhou for RMB 49.57 million, with payments structured in two installments[93]. - The net proceeds from the global fundraising amounted to approximately HKD 176.3 million, with specific allocations for strategic investments and service enhancements[95]. Employee and Operational Metrics - The total employee benefits expenses for the six months ended June 30, 2024, amounted to RMB 92,647,000, compared to RMB 85,762,000 for the same period in 2023, reflecting an increase of about 8.2%[22]. - The company has a total of 1,639 full-time employees as of June 30, 2024, a slight decrease from 1,647 employees as of December 31, 2023[98]. - The company is actively hiring qualified personnel with property management experience to support ongoing business growth[98]. Corporate Governance and Compliance - The company has maintained high standards of corporate governance, ensuring shareholder interests are protected[99]. - The audit committee has reviewed the unaudited condensed consolidated financial statements for the six months ending June 30, 2024, and found them to be properly prepared according to applicable listing rules[103]. - The company has adhered to the standards for directors and supervisors conducting securities transactions as of June 30, 2024[100]. Market Position and Recognition - The company has maintained a strong market position in the Yangtze River Delta region, particularly in Suzhou, contributing to business growth[46]. - The company has been recognized as one of the top 100 property service enterprises in China for nine consecutive years since 2016[46]. - The company ranked 33rd in the 2024 China Property Service Top 100 Enterprises list[46]. Future Outlook and Strategy - The company plans to expand its business scale through mergers and acquisitions and equity investments, focusing on project completion and bidding processes[57]. - The company aims to comprehensively enter the Jiangsu market, optimizing service strategies to ensure continuous business growth[58]. - The company is focused on expanding its market presence through the provision of integrated urban services and property management[49].

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].

Financial Performance - For the year ended December 31, 2023, the total revenue of the group was approximately RMB 725.1 million, an increase of about 35.7% compared to RMB 534.2 million for the same period in 2022[1]. - The gross profit for the year ended December 31, 2023, was approximately RMB 147.0 million, up about 18.9% from RMB 123.6 million in 2022, with a gross profit margin of 20.3%, a decrease of 2.8 percentage points from the same period in 2022[1]. - The profit for the year ended December 31, 2023, was approximately RMB 80.1 million, an increase of about 23.1% compared to RMB 65.1 million for the same period in 2022[1]. - Revenue from urban services and rental income amounted to approximately RMB 160.1 million for the year ended December 31, 2023, compared to RMB 116.6 million in 2022, representing a significant contribution to total revenue[11]. - The total revenue from customer contract income for 2023 was RMB 708.4 million, compared to RMB 510.6 million in 2022, indicating strong growth in service demand[12]. - Other income and gains for the year ended December 31, 2023, were RMB 45.9 million, compared to RMB 17.8 million in 2022, reflecting improved operational efficiency[2]. - The total tax expense for 2023 was RMB 24,414,000, an increase of 7.0% from RMB 22,802,000 in 2022[18]. - The company reported a net asset value of approximately RMB 35,710,000 as of December 31, 2023, down from RMB 37,152,000 in 2022[22]. - The net profit increased from approximately RMB 65.1 million for the year ended December 31, 2022, to approximately RMB 80.1 million for the year ended December 31, 2023[95]. Asset and Liability Management - The net value of current assets as of December 31, 2023, was RMB 357.1 million, an increase from RMB 197.5 million in 2022, indicating better liquidity management[4]. - The total assets minus current liabilities amounted to RMB 1,105.7 million as of December 31, 2023, compared to RMB 1,054.4 million in 2022, showing a stable financial position[4]. - Trade receivables increased from RMB 176.5 million in 2022 to RMB 295.1 million in 2023, indicating a significant growth in receivables[54]. - The group's total liabilities increased by approximately 30.2% to RMB 510.9 million as of December 31, 2023, from RMB 392.3 million as of December 31, 2022, mainly due to the increase in trade payables from urban service expansion[152]. - The group's cash and cash equivalents amounted to approximately RMB 397.3 million as of December 31, 2023, compared to RMB 355.9 million as of December 31, 2022[153]. - The group's interest-bearing bank loans were approximately RMB 119.1 million as of December 31, 2023, a slight decrease from RMB 122.5 million as of December 31, 2022[154]. - The group's other payables and accrued liabilities increased by approximately 13.7% to RMB 110.2 million as of December 31, 2023, from RMB 96.9 million as of December 31, 2022[149]. Business Operations and Strategy - The group managed 126 public construction projects in 2023, covering a total area of 15,159.2 thousand square meters, compared to 87 projects and 6,997.7 thousand square meters in 2022[29]. - The company provided urban services and property management services, focusing on enhancing customer satisfaction and loyalty through diversified service offerings[27]. - The group aims to strictly control accounts receivable and minimize credit risk through regular reviews of overdue balances and customer credit limits[23]. - The company aims to expand its business scale through mergers and acquisitions and equity investments, focusing on key projects and market demand research to enhance project standards and growth rates[35]. - The company is committed to improving service quality and customer satisfaction through regular feedback surveys and staff training[36]. - The company has been recognized as one of the top 100 property service enterprises in China for eight consecutive years since 2016, ranking 41st in 2023[57]. - The group has been actively expanding its market presence in the Yangtze River Delta region, particularly in Suzhou[26]. Revenue Breakdown - Urban services revenue increased by approximately 76.5% from RMB 256.8 million for the year ended December 31, 2022, to RMB 453.1 million for the year ended December 31, 2023, due to the expansion of integrated urban service projects and new public construction projects[39]. - Property leasing service revenue decreased by approximately 29.3% from RMB 23.6 million for the year ended December 31, 2022, to RMB 16.7 million for the year ended December 31, 2023, primarily due to lower-than-expected construction rates of surrounding enterprises affecting demand for collective dormitories[39]. - Revenue from residential property management services decreased by approximately 8.4% from RMB 65.6 million in the year ended December 31, 2022, to RMB 60.1 million in the year ended December 31, 2023[71]. - The gross profit for urban services was RMB 95.0 million with a gross profit margin of 21.0% for the year ended December 31, 2023, compared to RMB 63.2 million and a margin of 24.6% for the previous year[72]. - The gross profit for commercial property management services increased by approximately 6.0% from RMB 34.4 million to RMB 36.5 million for the year ended December 31, 2023, due to an increase in the number of managed commercial properties[73]. Employee and Operational Costs - As of December 31, 2023, the company employed 1,647 full-time employees in China, an increase from 1,226 employees as of December 31, 2022[177]. - Employee costs for the group were approximately RMB 174.0 million as of December 31, 2023, compared to RMB 161.3 million as of December 31, 2022[177]. - Administrative expenses increased by approximately 40.8% from RMB 35.5 million for the year ended December 31, 2022, to RMB 49.9 million for the year ended December 31, 2023, due to increased employee numbers and adjustments in employee compensation structure[44]. - The company's sales costs increased from approximately RMB 410.6 million for the year ended December 31, 2022, to approximately RMB 578.1 million for the year ended December 31, 2023, primarily due to the addition of integrated urban service projects and public construction projects[71]. Investments and Acquisitions - The acquisition of 100% equity in Suzhou Su Tong Ke Jia Engineering Co., Ltd. was completed for a nominal price of RMB 1, with an estimated net liability of approximately RMB 14 million[109]. - The group has proposed to sell a 49% stake in Suzhou Gaoxin Yiyang for a final bid price of RMB 5,808,100, completed on June 7, 2023[163]. - The group has submitted a proposal to acquire 100% of Suzhou Su Tong Ke Jia for a final bid price of RMB 1, and this transaction is classified as a related party transaction[166]. - The group agreed to acquire 49% of Run Jia for RMB 2,053,500 and 51% for RMB 2,137,300, totaling RMB 4,190,800, also classified as a related party transaction[167]. Future Outlook - The company plans to acquire an office building in Hong Kong, part of which will be used for self-use and part for leasing, to strengthen collaboration with Hong Kong companies[170]. - The company has set aside HKD 26.4 million for establishing its own brand "Su Xin Le Ju" and launching talent apartment management services, with the expected completion date also by December 31, 2024[174]. - The company has increased its investment in technology and smart operations due to rapid business expansion, leading to higher operational funding needs[176]. - The company has no significant future investment or capital asset increase plans as of December 31, 2023[200].

蘇新美好生活服務股份有限公司 SUXIN JOYFUL LIFE SERVICES CO., LTD. STOCK CODE 股份代號 : 2152 Contents 目錄 | --- | --- | |-------------------------------------------------------------------------|------------------------------| | | | | Definitions | 釋義 | | Management Discussion and Analysis | 管理層討論及分析 | | Corporate Governance and Other Information | 企業管治及其他資料 | | Report on Review of Interim Condensed Consolidated Financial Statements | 中期簡明綜合財務報表審閱報告 | | Interim Condensed Consolidated Statement of Profit or Loss | 中期簡明綜合損益表 | ...

Financial Performance - The company reported a significant increase in revenue, achieving a total of RMB 1.2 billion, representing a year-over-year growth of 25%[41] - The company reported a significant increase in revenue, achieving RMB 1.2 billion in 2022, representing a year-on-year growth of 15%[55] - The company has outlined a future outlook aiming for a revenue target of RMB 1.5 billion for 2023, reflecting a growth projection of 25%[55] - The Group's revenue increased by approximately 13.0% from approximately RMB462.0 million for the year ended 31 December 2021 to approximately RMB522.0 million for the year ended 31 December 2022[179] - Revenue from city services rose by approximately 46.5% from approximately RMB169.4 million in 2021 to approximately RMB248.2 million in 2022, driven by the expansion of integrated city services and public facility management[178] User Growth and Engagement - User data showed an increase in active users, reaching 5 million, which is a 15% increase compared to the previous year[41] - User data indicated a growth in active users, reaching 1.5 million, which is a 20% increase compared to the previous year[55] - New product development includes the launch of a digital service platform expected to enhance user engagement and operational efficiency[55] - The company plans to implement new marketing strategies, which are expected to increase customer engagement by 25%[41] Strategic Initiatives - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 20% to RMB 1.44 billion[41] - New product launches are expected to contribute an additional RMB 300 million in revenue, with a focus on health management services[41] - The company is expanding its market presence, targeting an increase in service locations by 30% over the next year[41] - The company is exploring market expansion opportunities in other provinces, targeting a 30% increase in market share by 2024[55] - A strategic acquisition of a local competitor is anticipated to enhance market share by 10%[41] - Suxin Joyful Life Services is considering strategic acquisitions to bolster its service offerings and enhance competitive positioning in the market[55] Cost Management and Profitability - The gross profit margin improved to 40%, up from 35% in the previous year, indicating better cost management[41] - The company aims to reduce operational costs by 15% through efficiency improvements and automation[41] - Cost of sales increased from approximately RMB 355.8 million for the year ended December 31, 2021, to approximately RMB 400.6 million for the year ended December 31, 2022, mainly due to increased subcontracting costs and utilities expenses[105] - Gross profit increased by approximately 14.2% from RMB 106.2 million for the year ended December 31, 2021, to RMB 121.3 million for the year ended December 31, 2022, primarily due to business expansion[107] - The Group's gross profit margin remained stable, with gross profit for city services increasing by approximately 52.1% from approximately RMB40.4 million in 2021 to approximately RMB61.5 million in 2022[136] Corporate Governance and Compliance - The management emphasized a commitment to corporate governance and compliance with the Corporate Governance Code[55] - The company plans to hold its 2022 Annual General Meeting on June 15, 2023, to discuss future strategies and performance[54] Listing and Market Presence - Suxin Joyful Life Services Co., Ltd. was listed on the Hong Kong Stock Exchange on August 24, 2022, under stock code 2152[52] - The company successfully listed on the main board of the Hong Kong Stock Exchange, enhancing its market presence[130] - Suxin Services was successfully listed on the Main Board of the Stock Exchange in August 2022, becoming the first county-level state-owned listed company in the property sector in Jiangsu Province[150] Technology and Innovation - Investment in technology development is set at RMB 50 million, aimed at improving service efficiency and user experience[41] - The company has invested RMB 50 million in research and development for new technologies aimed at improving service delivery[55] - The Group is advancing smart city sanitation service systems and enhancing digital collaboration to improve service levels through integrated customer service centers and smart property service systems[181] - Suxin Services has accelerated digital collaboration and implemented smart service upgrades, integrating its customer service center with its smart property service system[157] Revenue Breakdown - Revenue from commercial property management services decreased by approximately 9.7% from approximately RMB204.4 million for the year ended 31 December 2021 to approximately RMB184.6 million for the year ended 31 December 2022[99] - Revenue from residential property management services increased by approximately 8.3% from approximately RMB60.6 million for the year ended 31 December 2021 to approximately RMB65.6 million for the year ended 31 December 2022[99] - Revenue from property leasing services decreased by approximately 14.8% from RMB 27.7 million for the year ended December 31, 2021, to RMB 23.6 million for the year ended December 31, 2022, primarily due to compliance with local government's rent relief policy in response to COVID-19[103]

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。 Suxin Joyful Life Services Co., Ltd. 蘇 新 美 好 生 活 服 務 股 份 有 限 公 司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2152） 截 至2022年12月31日 止 年 度 的 年 度 業 績 公 告 財務概要 截至12月31日止年度 2022年 2021年 人民幣千元 人民幣千元 收益 521,965 461,981 毛利 121,347 106,225 毛利率 23.2% 23.0% 年內利潤 65,722 56,517 淨利率 12.6% 12.2% ...