According to the Zhitong Finance App, Times Neighborhood (09928) announced the results for the year ended December 31, 2023. The group achieved revenue of 2,471 billion yuan (RMB, same below) during the period, a year-on-year decrease of 5.17%; loss attributable to shareholders of 202 million yuan, a year-on-year narrowing of 5.55%; a basic loss per share of 21 points; and the proposed final dividend of 2.4 points per share.

According to the announcement, the decrease in revenue was mainly due to a decrease in revenue from community value-added services and value-added services for non-landlords. The property management services sector remains the Group's largest source of revenue. In 2023, the Group's property management service revenue reached about 1,886 billion yuan, accounting for about 76.3% of the Group's total revenue. The relevant revenue growth was due to continued cooperation between the Group and Times China Group and the strategic adjustment of the managed property portfolio. The decline in community value-added service revenue is mainly due to a decrease in income from lifestyle services. The decline in value-added service revenue for non-landlords is mainly due to a decline in overall service revenue. The decline in revenue from other professional services was mainly due to the decline in revenue from Zhilian Technology Services and elevator services.

In 2023, the Group's contract project management area was about 120 million square meters, and the project area under management was about 110 million square meters, of which the project contract area distributed in the four core urban agglomerations of the Guangdong-Hong Kong-Macao Greater Bay Area, Yangtze River Delta, Cheng-Chongqing and Central China was about 2.5 percentage points higher than last year. The project contract area distributed in Tier 1 and 2 cities was about 88.53 million square meters, an increase of about 2.4 percentage points over last year.

The Group insists on high-quality scale expansion, continues to actively expand high-quality projects, and actively eliminate some poor comprehensive quality projects to build a solid scale foundation for long-term healthy business development. In 2023, the Group achieved a breakthrough in expanding the stock market. In terms of industrial logistics parks, the Group has obtained key projects including Xi'an Cainiao Industrial Park and Hangzhou Ali Industrial Park, and has maintained a continuous leading position in the field of industrial logistics park services. In terms of urban public service, the Group has obtained benchmark projects such as Hainan's Lingshui Sanitation Integration and helped Hainan's Lingshui County maintain a high-quality urban environment with quality services, making it maintain the first county-level sanitation ranking for a long time. The implementation of public service projects in key cities has laid a good reputation foundation for the Group to build a second curve of scale growth.