Project Management and Resource Allocation - The company terminated contracts with 6 projects (Zhanjiang Xinghe COCO City, Nanchang Boneng Xinghe iCO, Nanchang Shanglian Xinghe COCO Park, Shanghai Bowan Lanyun Xinghe COCO City, Putian Xinghe COCO Park, Ningxiang Xinghe COCO City) to focus resources on high-quality projects, enhancing sustainable development[1] - The company successfully signed commercial operation service contracts for 5 third-party projects in 2022, including Maoming Xinyi Xinghe COCO City, Jining Xinghe COCO City, Jining Xinghe iCO, Shanshui Outlets · Lu'an Xinghe COCO City, and Zhuhai Lailai Xinghe COCO City[30] - In 2022, the company successfully opened four new projects: Enshi COCO City, Jiaxing COCO City, Guannan Hengji COCO City, and Guangzhou Dachong COCO Garden[51] - The company plans to complete the grand opening of 5-7 projects in 2023, supported by a "Guaranteed Opening Task Force" mechanism[112] - The company transitioned the operation model of 4 projects (Shenzhen Galaxy WORLD COCO Park Phase II, Shenzhen Guangming Galaxy COCO City, Nanjing Galaxy COCO City, Jiangyin Galaxy COCO City) from "entrusted management services" to "whole leasing services" with a pure revenue-sharing rental model (no fixed rent)[101] Business Performance and Financials - The company achieved a profit attributable to shareholders of RMB 15.15 per share in 2022[50] - The company declared a final dividend of HKD 0.07 per share, with a full-year dividend payout ratio of approximately 62%[50] - Revenue for the year ended December 31, 2022, was approximately RMB 561.9 million, a decrease of 1.8% year-on-year[166] - Revenue from entrusted management services was approximately RMB 381.7 million, an increase of 8.5% year-on-year, accounting for 67.9% of total revenue[167] - Gross profit margin for entrusted management services increased to 53.9% in 2022 from 49.1% in 2021[170] - Gross profit margin for brand and management output services remained relatively stable compared to 2021[171] - Other income for the year ended December 31, 2022, was approximately RMB 40.0 million, an increase of 28.5% year-on-year, mainly due to increased bank interest income[172] - Sales expenses for the year ended December 31, 2022, were approximately RMB 12.0 million, an increase of 41.4% year-on-year, primarily due to increased marketing expenses for the Jiaxing Xinghe COCO City project[173] - Total contracted building area as of December 31, 2022, was 3,700 thousand square meters, with a total revenue of RMB 561.854 million[119] - The Greater Bay Area accounted for 81.4% of the total revenue, generating RMB 457.541 million from 39 properties[119] - The Yangtze River Delta region contributed 9.8% of the total revenue, with RMB 55.186 million from 9 properties[119] Operational Strategies and Innovations - The company plans to deepen consumer demand research, enhance product competitiveness, and achieve breakthrough product innovation in 2023, while balancing innovative design and cost control[4] - The company will prioritize efficiency and promote collaboration between headquarters, regions, and projects, ensuring project design novelty and layout rationality through "one store, one strategy" to achieve accurate project positioning and high-quality openings[9] - The company aims to use data to drive consumer and brand demand alignment, leveraging intelligent empowerment for more precise marketing and decision-making[33] - The company is committed to building a digital platform to become a data-driven, open, and asset-light operation platform[54] - The company will use digital operation systems to monitor sales and foot traffic data in real-time, enabling refined operation and timely assistance for tenants[55] - The company plans to construct a smart business operation system, digitizing on-site customers and building a full-scenario data chain to improve operational efficiency[55] - The company aims to achieve a rental rate of no less than 95% in 2023 by deepening strategic joint development opportunities and introducing first-entry brands and innovative formats[109] - The company will focus on refining and solidifying operational highlights, creating benchmark merchants such as "Million-Yuan Stores" and "Ten Million-Yuan Stores" to enhance performance[111] - The company will enhance the value of the membership management system, which will serve as a "ballast stone" for shopping center performance[111] - The company plans to focus on quality and efficiency improvements in 2023, aiming for high-quality development[124] - The company's core strategy for 2023 includes prioritizing efficiency, cooperation, and high-quality expansion[127][128] Brand and Market Position - The company ranked 10th in the "2022 China Commercial Real Estate Top 100 Enterprises" and was awarded the "2022 China Commercial Real Estate Operation Top 10 Enterprises" and "2022 China Commercial Real Estate Operation Excellent Brand" by the China Index Research Institute[21] - The company's COCO Park brand was recognized as one of the "2022 China Commercial Real Estate Project Brand Value Top 10"[21] - The company's Shenzhen Futian Xinghe COCO Park was awarded the "Annual Night Economy Landmark Project" at the China Commercial Real Estate Golden Tripod Awards[21] - The company's brand system includes urban shopping centers "COCO Park," regional shopping centers "COCO City" and "iCO," community shopping centers "COCO Garden," and high-end home furnishing shopping centers "Third Space"[40] - The company's core brands include "COCO Park," "COCO City," "iCO," and "COCO Garden," reflecting its commitment to urban development and quality of life[57] Geographic and Operational Coverage - As of December 31, 2022, the company provided services to 65 commercial property projects (including 13 consulting service projects) across 24 cities in China, with a total contracted building area of approximately 3.7 million square meters, 60.0% of which were developed or owned by independent third parties[13] - The company provided services to 65 commercial property projects across 24 cities in China as of December 31, 2022, with 26 projects in operation and 39 projects not yet operational[60] - The total contracted building area reached approximately 3.7 million square meters, excluding 13 consulting service projects[79] - In 2022, the company signed commercial operation service agreements for 5 third-party projects, adding a contracted area of 408,000 square meters[98] - The Greater Bay Area accounted for 39 projects, while the Yangtze River Delta region had 9 projects[59][84] - The company operates the largest number of shopping centers in Shenzhen and has a scale advantage in core cities of the Greater Bay Area[36] Revenue and Operational Models - The company's revenue sources include fixed fees for market positioning, design, and tenant recruitment, as well as a predetermined percentage of income or profit from operational management services[89][93] - The company's operational models include entrusted management, brand and management output, and leasing services, with varying levels of involvement and cost structures[87][90][94][96] - The company's consulting service projects serve as a foundation for future sustainable operations and stable growth[79] - In 2022, the company's related parties contributed an additional contracted area of 32,000 square meters[98] - The company's operational management services include strategy formulation, marketing activities, tenant management, property management, and rent collection[62] - Rental income from the company's daily operations is recognized as revenue[134] Financial and Accounting Policies - Government grants are recognized in the income statement on a systematic basis, offsetting related costs[139] - Deferred tax assets and liabilities are recognized based on temporary differences between the book value and tax base of assets and liabilities[144] - The company's financial assets are measured at fair value, with changes recognized in profit or loss unless they meet specific criteria for amortized cost or other comprehensive income[180] - The company recognizes expected credit losses for trade receivables and lease receivables, with individual assessments for each asset[159] - The company's investment properties are measured at cost less accumulated depreciation and impairment losses[175] - The company's financial assets are measured at amortized cost, and interest income is recognized using the effective interest method, unless the financial asset subsequently becomes credit-impaired[182] - The company assesses whether there has been a significant increase in credit risk since initial recognition by comparing the risk of default at the reporting date with the risk of default at initial recognition[185] - The company considers both quantitative and qualitative information, including historical experience and forward-looking information, when assessing credit risk[185] Organizational Structure and Leadership - The company's board of directors consists of three executive directors, two non-executive directors, and three independent non-executive directors as of the annual report date[194] - Huang Delin, the Chairman and Executive Director, is responsible for overall business development and the formulation and implementation of the company's business strategies[195] - Tao Muming, the Executive Director and President, oversees business development, strategy implementation, and daily operations of the company[196] - Wen Yi, the Executive Director and General Manager of the Financial Management Center, is responsible for the company's overall financial management, IT systems, legal affairs, and contract management[200] Employee and Workforce Management - The company's total number of employees increased significantly to 826 in 2022, up from 436 in 2021, primarily due to increased self-managed property services and project preparations[190] Strategic and Market Analysis - The company optimized its city strategy, identifying 4 "breakthrough cities," 23 "deep cultivation cities," and 8 "reserve cities" based on commercial attractiveness and strategic layout[164] - The company aims to deepen emotional connections with consumers and explore co-creation of product content, targeting the "Z Generation" as the future main consumer group[53] Operational Metrics and Performance - Total contracted construction area decreased from 3,900 thousand square meters in 2021 to 3,700 thousand square meters in 2022, with the number of properties decreasing from 84 to 65[101] - The total operating retail commercial properties as of December 31, 2022, had a combined shopping center area of 1,451,866 square meters and a parking area of 456,614 square meters, totaling 1,908,480 square meters[108] - Ordos Galaxy COCO City Phase I suspended operations due to an accident, reducing the operating construction area by 48,000 square meters[108] - The average occupancy rate for COCO Park was 96.0% in 2022, down from 98.3% in 2021[121] - The total operating shopping center area as of December 31, 2022, was 1,452 thousand square meters, excluding parking areas[121] Investments and Acquisitions - The company did not have any significant investments, acquisitions, or disposals of subsidiaries, associates, or joint ventures during the year ended December 31, 2022[191]

会议即将开始请稍候下面有请主持人开场尊敬的各位投资者分析师朋友上午好欢迎参加新盛商业管理股份有限公司2022年度业绩发布会出席本次会议的管理层嘉宾是新盛商业执行董事董事会主席黄德林先生大家好执行董事总裁陶牧民先生 各位大家好本次会议我们也特别邀请到关联方新和控股集团财务管理中心副总经理欧群平女士出席 本次发布会分为两个环节第一个环节将先由管理层介绍公司2022年业绩以及未来工作计划第二个环节是问答环节下面首先有请陶总进行分享尊敬的投资者和分析师朋友大家上午好首先由我来向各位介绍公司在2022年的业绩概要及业务回顾 2022年面对疫情的反复以及行业和经济环境的变化我们依然取得了一定的经营业绩各项关键性指标表现的较为平稳我们的营业收入同比微跌1.8%达到5.62亿元毛利润同比下降了 5.3%达到3.13亿元毛利率为55.7%依然保持在行业的较高水平剔除租赁准则对整租项目的影响经调整后的核心规模净利润为1.99亿元同比增长6个百分点核心规模净利润率达到35.4% 同比上升了2.6个百分点截止到2022年底的在首现金为12.7亿元进限比为1.05以此同时2022年我们新签约6个项目新增合约面积共计44万平方米 截止1 ...

(2) 包括上海、南京、常州、無錫、嘉興、連雲港及六安。 下表載列截至2022年12月31日運營中的零售商業物業平均出租率及已開業建築面 積。 運 營 中 項 目 2. 6. 10. 14. 复建築 停車場 中心 (平方米) 汕尾 15. 139,800 深圳能崗星河iCO - 品牌及管理輸出服務 17. - 18_ 8,557 品牌及管理輸出服務 2020年11月 品牌及管理輸出服務 東莞星河COCO Garden 20. 恩施星河COCO City 品牌及管理輸出服務 2022年10月 灌 南恆基星河COCO City 品牌及管理輸出服務 2022年11月 常州武達剃塘星河COCO City 25. ak 整自服務 獨立第三方物樂發展商 星河控股及其哪累人 星河控股及其哪累人 獨立第三方物業開發商 1,451,867 2023年工作計劃 1、 多舉措穩商助商，提高項目出租率：2023年本集團將深挖戰略聯發機遇， 加強品牌「一帶多」能力，為籌開項目提供品牌儲備及支持，同時將大力 推進首進品牌和創新業態的引入，達到出租率不低於95%的目標。 二、 效 率 優 先，合 作 共 贏，做 好「有 質 量 開 業」。 ...

E-STAR COMMERCIAL MANAGEMENT COMPANY LIMITED 星盛商業管理股份有限公司 （於開曼群島註冊成立的有限公司） 股份代號：6668 中 期 報 告 2022 目 錄 | --- | --- | |------------------------------|-------| | | | | 公司資料 | 2 | | 管理層討論與分析 | 3 | | 企業管治及其他資料 | 20 | | 簡明綜合財務報表審閱報告 | 24 | | 簡明綜合損益及其他全面收益表 | 25 | | 簡明綜合財務狀況表 | 26 | | 簡明綜合權益變動表 | 27 | | 簡明綜合現金流量表 | 28 | | 簡明綜合財務報表附註 | 29 | 公司資料 | --- | --- | |-----------------------------------------------------------------|---------------------------------------------------| | 董事會 | 香港營業地點 | | 執行董事 | 香港 | | 黃德林先生 ...

E-STAR COMMERCIAL MANAGEMENT COMPANY LIMITED 星盛商業管理股份有限公司 （於開曼群島註冊成立的有限公司） 股份代號：6668 年 報 t C 目 錄 | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------------|-------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | 集團簡介 | | | | | | | 2 | | 公司資料 | | | | | | | 3 | | 獎項 | | | | | | | 4 | | 主席報告 | | | | | | | 6 | | 業務概覽 | | | | | | | 9 | | 管理層討論與分析 | | | | | | | 10 | | 董事及高級管理層 | | | | | | | 26 | | 企業管治報告 | | | | | | | 32 | | 董事會報告 | | | | | | | 42 | | 獨立核數師報告 | | | | | | | ...

E-STAR COMMERCIAL MANAGEMENT COMPANY LIMITED 星盛商業管理股份有限公司 （於開曼群島註冊成立的有限公司） 股份代號：6668 中 期 報 告 目 錄 | --- | --- | |------------------------------|-------| | | | | 公司資料 | 2 | | 管理層討論與分析 | 3 | | 企業管治及其他資料 | 16 | | 簡明綜合損益及其他全面收益表 | 19 | | 簡明綜合財務狀況表 | 20 | | 簡明綜合權益變動表 | 21 | | 簡明綜合現金流量表 | 22 | | 簡明綜合財務報表附註 | 23 | 公司資料 董事會 執行董事 黃德林先生（主席） 陶慕明先生（首席執行官） 牛林先生 文藝女士 非執行董事 郭立民先生 黃德安先生 獨立非執行董事 張禮卿先生 郭增利先生 謝日康先生 委員會 審核委員會 謝日康先生（主席） 郭立民先生 郭增利先生 薪酬委員會 郭增利先生（主席） 郭立民先生 謝日康先生 提名委員會 黃德林先生（主席） 郭增利先生 張禮卿先生 授權代表 文藝女士 黃繼興先生 公司秘書 黃繼興先 ...

E-STAR COMMERCIAL MANAGEMENT COMPANY LIMITED 星盛商業管理股份有限公司 （於開曼群島註冊成立的有限公司） 股份代號：6668 目 錄 | 集團簡介 | 2 | | --- | --- | | 公司資料 | 3 | | 獎項 | 4 | | 主席報告 | 6 | | 業務概覽 | 8 | | 管理層討論與分析 | 9 | | 董事及高級管理層 | 21 | | 企業管治報告 | 27 | | 董事會報告 | 37 | | 獨立核數師報告 | 50 | | 綜合損益及其他全面收益表 | 54 | | 綜合財務狀況表 | 55 | | 綜合權益變動表 | 57 | | 綜合現金流量表 | 59 | | 綜合財務報表附註 | 61 | | 四年財務摘要 | 124 | 集團簡介 星盛商業管理股份有限公司（「星盛商業」或「本公司」）連同其附屬公司（「本集團」）是大灣區領先的商用物業運營服務供應商，並 具有全國佈局。截至2020年12月31日，本集團訂立合約以向53個商用物業項目提供服務，覆蓋中國20個城市，總合約建築面 積（「建築面積」）約3.28百萬平方米，當中61.6%由 ...