Xincheng Yue Service Group Co., Ltd. (the “Company” or “we”, together with its subsidiaries the “Group”) is a rapidly developing property management service provider in China. We have been providing property management services in China for over 26 years. According to statistics from the China Index Research Institute (“China Index Institute”), we have been the leading growth enterprise of property management service companies in China for many years in a row. Furthermore, according to China's Top 100 Property Service Companies published by the China Index Institute, our ranking rose from 34th in 2010 to 11th in 2022. On December 31, 2022, we signed property management service agreements covering 192 cities in 31 provinces, with a total contracted construction area (“building area”) of 312.7 million square meters, and the projects under management have covered 156 cities, with a total construction area of 198.3 million square meters under management. We provide a wide range of property management services and value-added services to property developers and residents and tenants of the communities we manage. We have also developed the New Orange Club App, a one-stop information service platform. Our residents and customers can enjoy our services through their mobile devices. Through our quality services and increased market awareness, we have established a property management brand oriented to quality and customers. Our business model For the year ended 31 December 2022, our revenue came mainly from two lines of business: property management services and value-added services. Our value-added services include three business categories, namely developer value-added services, community value-added services, and smart park services. Property management services We provide a wide range of property management services to residents and tenants, including property and equipment maintenance, security services, cleaning services, gardening services, public area maintenance and other property management related services. We manage a diverse portfolio of properties, including residential and non-residential properties, including office buildings, multi-use complexes, factories to parks and technology industrial parks. For the year ended 31 December 2022, the majority of our revenue came from providing property management services. Value-added services Our value-added services include three types of services: value-added services for developers, value-added services for communities, and smart park services. Value-added services for developers: We provide relevant services to developers in the property development process. Value-added community services: We provide value-added services to residents and customers under management projects, including public resource management services, community engineering services, extensive renovation services, asset management services, catering services, facilities and equipment management, and various other home life services. Smart Park Service: We create one-stop smart solutions for communities and various business projects.
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