According to Zhitong Finance App, Ming Yuanyun (00909) announced the annual results for the year ended December 31, 2023. The group obtained revenue of RMB 1.64 billion (same unit), a year-on-year decrease of 9.7%; loss attributable to company owners was 586 million yuan, a year-on-year decrease of 49.26%; loss per share was $0.32. The board of directors has recommended declaring and paying a special dividend of HK$0.1 per share from the share premium account.
The revenue of the cloud services business for the year ended December 31, 2023 was 1,339 million yuan, down 6.2% year on year, accounting for 81.6% of overall revenue (78.5% for the same period in 2022). The decline in cloud service revenue is mainly due to the fact that the domestic housing market is still in the adjustment stage, compounded by the impact of the 2023 new contract carry-over cycle. Looking at the segmented product line of cloud services, affected by the overall sales environment in the residential market, customer relationship management revenue was 946 million yuan during the reporting period, down 9.2% from the previous year. Despite facing many adverse factors in the external environment, the company has always adhered to the strategy of upgrading the target market, focusing on developing the two major real estate markets, industry and infrastructure. During the reporting period, project construction revenue was 157 million yuan, up 32.7% year on year; asset management & operating revenue was 87.4 million yuan, up 42.0% year on year. As of December 31, 2023, the amount of unfulfilled contracts for cloud services (excluding tax) was $819 million, up 5.5% from December 31, 2022.
The revenue of the localized deployment software and services business for the year ended 31 December 2023 was $301 million, a year-on-year decrease of 22.8%. Among them, revenue for the second half of 2023 was 174 million yuan, an increase of 36.6% over the first half of the year. Mainly affected by the market environment, some private housing developers are still facing financial difficulties and are cautious about digital investment. Since 2023, the company has focused more on high-quality state-owned housing developers. The digital goals of this type of customer base are clear and the IT budget is sufficient, leading to a gradual improvement in the signing of locally deployed software and services in the second half of 2023.