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金茂服务中报再显优势,营收利润稳健增长、持续打造长期稳定的高端物业品牌

Jinmao service shows its advantages again, steady growth in revenue and profit, and continued to build a long-term and stable high-end property brand.

China Investors ·  Aug 21, 2022 21:45

On August 19th, Jinmao Service (HK:00816) released its semi-annual results report for 2022. During the reporting period, Jinmao Service achieved a cumulative operating income of 1.097 billion yuan, an increase of 59.9% over the same period last year, a profit of 171 million yuan, an increase of 94% over the same period last year, and a profit attributable to the owner of the parent company of 169 million yuan, an increase of 93.8% over the same period last year. Gross profit increased by 58.5% to 356 million yuan, with a gross profit margin of 32.5%.

In terms of management scale, as of June 30, 2022, the construction area of Jinmao service contract is about 69.6 million square meters, and the construction area under management is about 45.5 million square meters, an increase of 57.8% and 128.6% respectively over the same period last year.

The substantial growth of a number of data in the first half of the year further highlights the strategic advantage of Jinmao Service as "high, comprehensive, new and fast". Moreover, with the continuous improvement of Jinmao service in multi-format and multi-business types of management services, the income of its three major business sectors, namely, basic property management business, non-owner value-added services and community value-added services, is growing rapidly at the same time, the revenue structure is also being further optimized, accounting for 49.3%, 28.3% and 22.4%, respectively.

As a fast-growing provider of high-end property management and urban operation services in China, Jinmao Service continues to provide quality services in line with market expectations, and its business rapidly extends to full-cycle services in diversified urban spaces. With its sound operation strategy and considerable growth potential, it has become one of the most long-term valuable property service brands.

Upgrade customer experience, maintain high satisfaction, and set up a benchmark for high-end property service.

With the continuous acceleration of the integration of the property industry, people's requirements for the quality of property services are still improving. Excellent property enterprises ride the wind and waves in the rapids through their own continuous exploration. In the first half of 2022, Jinmao Service continued to open the market through fine management and high-quality service. While many core indicators such as revenue, profit and management area were outstanding, customer word-of-mouth and market recognition were fully recognized.

Focusing on user experience and service quality, Jinmao Service continues to innovate service model, enrich service content, build a solid high-end quality label, and lay a solid foundation for the industry to enter the Red Sea era. To this end, Jinmao Service creates a unique MOCO high-end feature service in the industry, builds a high-end property service pyramid, and goes deep into the subtle depths of the service. Through the VOC collection plan (Voice of the Customer, customer Voice Plan, referred to as VOC), it collects and analyzes customer demand and experience feedback data, and sets up a multi-dimensional customer experience monitoring system, including customer experience officers, customer research experience topics, etc. And then sort out the enterprise action plan to ensure that the service quality remains stable and high quality. In addition, Jinmao Service grabs the window of property brand construction, actively expands the size of the community, promotes the brand IP, strives to create a high-end property brand image, and establishes differentiated service competitiveness.

Thanks to its excellent service ability and customer insight, Jinmao Service has formed a virtuous circle of high customer satisfaction-high renewal rate-high collection rate-high pricing power-high level of service input-high satisfaction. In the first half of 2022, Jinmao service residential and office service satisfaction was both high, of which the overall score of residential project satisfaction was 91 and that of office project was 99, far exceeding the market average.

In the first half of 2022, Jinmao Service has won many industry awards, such as "China High-end property Service Leader", "China Smart City Service Leader", "2022 High-end property Service Power No. 1", "2022 property Service satisfaction leadership" and other industry awards.

The business is lengthened in depth, the financial security is stable, and the high quality basic plate is built.

With the intensification of competition in the property management industry and the increasing market demand for property enterprise services, more and more property enterprises extend their business tentacles to more dimensions of customer service.

In the first half of 2022, Jinmao Service deeply tapped the customer demand, continuously innovated the owner's value-added service products and content, and lengthened the business through four major business sectors: living services, space operation, meiju business and real estate brokerage. All-round access to customer lifecycle services to help accelerate performance growth. As of June 30, 2022, Jinmao service community value-added service revenue was about 246 million, an increase of 221% over the same period last year, accounting for 22.4% of total revenue, an increase of 11.2% over the same period last year. Gross profit of community value-added services increased by 185% to 115 million compared with the same period last year, surpassing the gross profit of 60 million for the whole of 2021.

The further optimized revenue structure and the management service capabilities of full-format, full-cycle and full-field demonstrate the strong development resilience and future potential of Jinmao service.

In terms of financial management, although market uncertainties have increased in 2022, Jinmao Service still has a sound performance and solid fundamentals. In the first half of the year, the total assets of Jinmao Service reached 2.606 billion yuan, an increase of 91.7% over 2021. Of this total, cash and cash equivalents were 1.044 billion yuan, an increase of 88.5% over 2021. Business security continues to enhance, stable and abundant cash and cash equivalents provide a reliable foundation for the long-term development of Jinmao service, and provide strong support for future business expansion and service innovation.

Strong outward expansion ability, rich business format management, showing toughness and potential

Under the general trend that resources and markets are gradually concentrated to the head enterprises, "scale improvement" has become the key factor for property enterprises to win. In addition to a large number of high-quality assets from Jinmao in China, Jinmao service independent extension also continues to make efforts. In the first half of 2022, Jinmao Service signed three new city operation projects: Aojiang City Service in Pingyang, Chuangcheng in Ganjiang Department of traditional Chinese Medicine, and Jinhua City Service in Zhejiang Province, and acquired first-time properties to enrich new growth sectors and create a "second curve" of income growth. lock in more certainty in the future.

In particular, the successful acquisition of first-home property has added a lot of high-quality assets to Jinmao service. The business layout characteristics and rich format combination of first Home property accurately match the strategic positioning and M & A criteria of Jinmao Service, and the huge synergy behind this acquisition will also help Jinmao Service to rapidly expand its scale. enhance brand competitiveness in the field of commercial property services.

In terms of industrial layout, Jinmao service has been steady and advanced in depth. As of June 30, 2022, Jinmao service has 238 operating projects, 142 residential projects and 96 non-residential businesses nationwide. Business covers 56 cities in 22 provinces, municipalities directly under the Central Government and autonomous regions, including the core areas with high economic vitality in the Yangtze River Delta, Beijing-Tianjin-Hebei, Pearl River Delta and Chengdu-Chongqing Economic Zone. Further consolidate the market foundation of Jinmao service focusing on high-end property.

As of June 30, 2022, the ratio of Jinmao service contract to the area under management is 1.53, showing a strong potential for scale growth. Third parties accounted for 39.3% of the tube area, an increase of 27.2% over the same period last year.

Consolidate social responsibility, enhance intelligent service, and create a future enterprise with efficient operation

On May 30th, 2022, Jinmao Service officially released the 2021 ESG report of Jinmao property Service Development Co., Ltd., which is the first ESG report released after its listing, fully revealing the company's annual responsibility concept, practice and effectiveness. Jinmao Service always adheres to green operation, uses energy through green science and technology, and holds a number of environmental protection public welfare activities to integrate the concept of sustainable development into all-round management. In the first half of the year, in the face of a sudden epidemic situation, we launched an emergency plan for epidemic prevention and worked together with medical staff to achieve effective epidemic prevention results.

In terms of enterprise management, Jinmao Service is also seeking benefits from management through scientific management methods. In the first half of 2022, Jinmao Service completed the phased construction of seven systems according to the information construction plan, of which three systems, including project management platform, operation cockpit and investment auxiliary platform, were successfully put into use, and home & Jin Maohui completed the integration. Housing rental and sale, Yue Neighbourhood Meiju, Jin Xiaomao completed the construction, through data online, visualization, effectively improve the company's operational efficiency. In addition, Jinmao Service also complies with the trend of industry development and digital transformation, organizes the construction of industry-financial integration, significantly improves operational efficiency, and promotes the expected future expense rate to show a downward trend. In the first half of 2022, the expenses of management, sales and finance of Jinmao service decreased significantly compared with the same period last year.

For more than 20 years, Jinmao Service has rapidly grown into a high-end property service benchmark enterprise with excellent quality, and continues to provide high-quality and intelligent services for residential, industrial parks, urban operation services and other diversified industries. Adhering to the brand tenet of "adhering to long-term doctrine and promoting long-term value growth", Jinmao Service will continue to embrace the community and urban future with scientific and technological innovation, and link users with better life with high-quality service. we will continue to build long-term, stable, dynamic and innovative enterprises in the future.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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