On March 27, GLONGHUI | Rongxin Services (02207.HK) announced that for the year ended December 31, 2023, the Group's total revenue was approximately RMB 901 million, up about 2.8% from the same period last year; gross profit reached approximately RMB 172 million, a decrease of about 0.3% over the same period last year; the Group's gross margin was 19.1%, down 0.6 percentage points from 19.7% in the same period in 2022; and profit attributable to company owners reached approximately RMB 10.7 million during the reporting period, a decrease of about 31.4% from the same period last year. The capital-to-debt ratio decreased by 0.1 percentage points from 0.8% on December 31, 2022 to 0.7% on December 31, 2023.
The Group's revenue mainly comes from three major business lines: property management services, value-added services for non-owners, and value-added community services. During the reporting period: (i) revenue from property management services was approximately RMB 713 million, accounting for about 79.1% of total revenue, up about 17.3% year on year; (ii) revenue from value-added services for non-owners was approximately RMB 126 million, accounting for about 14.0% of total revenue, a year-on-year decrease of about 43.2%; and (iii) revenue from community value-added services was approximately RMB 62.6 million, accounting for 6.9% of overall revenue, up about 31.7% year on year.