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Public company info - Poly Property Services Co. Ltd.-H Shares , 06049.HK
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Poly Property Services Co. Ltd.-H Shares, 06049.HK - Company Profile
Chairman Huang Hai
Share Issued (share) 153,000,000
Par Currency Renminbi
Par Value 1.0
Industry Property Management & Agency
Corporate Profile Business Summary: The Group is primarily engaged in the provision of property management services, value-added services to non-property owners and community value-added services. Performance for the year: For the year ended 31 December 2020, the total revenue of the Group amounted to approximately RMB8,037.2 million (2019: approximately RMB5,966.8 million), representing an increase of approximately 34.7% as compared to the corresponding period of 2019. For the year ended 31 December 2020, the profit for the year of the Group was approximately RMB696.1 million, representing an increase of approximately 38.3% as compared to approximately RMB503.2 million of the corresponding period of 2019. The profit attributable to owners of the Company was approximately RMB673.5 million, representing an increase of approximately 37.3% as compared to approximately RMB490.5 million of the corresponding period of 2019. The net profit margin was approximately 8.7%, representing an increase of approximately 0.3 percentage points as compared to approximately 8.4% of 2019. Business review The year of 2020 was an extraordinary year. The outbreak of COVID-19 rigorously challenged people’s lives and social and economic development. In this battle against the pandemic, all of the employees of Poly Property helped fulfill Poly Property’s responsibility as a central enterprise to safeguard the country and the people, efficiently cooperated with governments at all levels to build an gridded anti-pandemic front, determined to assume the responsibility and endure hardship in protecting the community and homes in order to ensure normal operation and production of the enterprise with The Group’s professionalism and to build up a strong fortification against the pandemic. The Group’s movements have been unanimously recognised by property owners, government and society. The year of 2020 was also a year of endeavoring. Striving to tide over challenges and proceed courageously, the employees of Poly Property will consolidate its “Comprehensive Property” strategy and work hard in multiple ways, ranging from business expansion, quality enhancement to management intensification, thereby continuing to create value for The Group’s Shareholders, customers, employees and society. Accelerating breakthroughs in market-oriented development, and the scale of “Comprehensive Property” reached a new level. As The Group adhered to The Group’s market-oriented development, the single-year contract value of projects from third parties acquired was approximately RMB1,715.2 million during the year, of which the proportion of non-residential businesses continued to rise, the number of benchmark projects increased rapidly and the overall scale reached a new level. As at 31 December 2020, The Group had expanded into 184 cities in 29 provinces, municipalities and autonomous regions across China, with contracted gross floor area (“GFA”) of approximately 567.2 million sq.m., 1,948 contracted projects, GFA under management of approximately 380.1 million sq.m. and 1,389 projects under management. For the year ended 31 December 2020, the proportion of revenue from property management services derived from projects from third parties increased by 8.3 percentage points to 26.4% as compared to the corresponding period of last year. Consolidating presence in the public service-related market and collaborating with innovations on social governance. Always echoing with and responding to national policies, Poly Property has continued to consolidate its services in the diversified businesses in cities as well as town areas, and promoted integration of property services and social governance in an innovative way under its concept of “Achieving refined governance that makes ways for good achievement and serving the people” (善治善成，服務民生). The Group continued to expand The Group’s business layout across the country for diversified businesses of public services. As at 31 December 2020, The Group expanded into 26 provinces, with GFA under management of approximately 201.3 million sq.m. and 393 projects under management, representing an increase of 127 projects under management as compared to last year. The Group further concentrated on three core businesses, namely properties in towns and scenic areas, higher education, teaching and research properties, railways and transportation properties, and achieved breakthroughs in a number of projects themed on integration of environmental sanitation. The Group successfully convened the 3rd China Social Governance and Collaborative Innovation Mayor Forum* (第三屆中國社會治理與協同創新鎮長論壇), commenced public servicerelated strategies and launched a new product series of “Towns Revitalisation” (鎮興中國), all serving for facilitating innovation of models that promote the modernization of social governance and the national implementation of the same. High-quality service experience coming from a standardised service system. As The Group have adopted a quality-oriented approach on service offering, The Group continued to upgrade The Group’s standardised service system applicable to various businesses that was established by taking customers’ perspective when experiencing different services, so that the Group could enhance its quality through refined management. During the year, The Group launched an ultra-standardised operation and service system in residential communities across the country, further improving the precision of control on projects and maintaining high satisfaction from and solicitation rates of property owners as compared with The Group’s industry peers. In the area of public services, The Group developed a standardised service system applicable to various businesses and issued a service manual on standardised urban services, in order to facilitate “refined governance” (精 細善治) in social governance through refined services and management control. Creating a diversified ecosystem of value-added services that focuses on the needs of property owners and customers. Riding on The Group’s diversified business layout, The Group were committed to providing property owners with diversified daily life-related services with premium quality by bringing together various internal and external premium resources, thereby offering consumers with more valuable professional services. As The Group’s supply chain system improved, The Group’s operation consolidated and The Group’s business model became more wellestablished, The Group gradually expanded from the four vertical businesses, namely move-in and furnishing services, community retail, community media and housekeeping services, to areas such as daily life-related services, professional services and asset management, with the aim to create a more diversified and high-quality value-added service system. Accelerating the construction of the platform for smart property management services through comprehensive digitalization. Believing that a shift to digitalization and technology empowerment will be the core driving forces to reform the industry, The Group carried out a comprehensive digitalization plan in four major areas, namely internal control system, project management, smart community and value-added services. During the year, The Group focused on internal control systems in relation to areas such as costing and budgeting in order to further improve The Group’s control and efficiency of management. The Group upgraded The Group’s unmanned surveillance system for car parks and launched “Heyuan Youpin” (和院優品) online shop, thereby bringing a more enjoyable living and consumption experience to property owners and further exploring the profit potential of The Group’s projects. The Group believed that a platform for smart property management services would improve The Group’s competitiveness as this would enhance customer experience, improve management efficiency and facilitate The Group’s innovation on business models, and consequently conducive to realisation of The Group’s “Comprehensive Property” strategy. Intensifying establishment of corporate culture and focusing on building up a team of talents and organizational innovation. During the year, The Group continue to develop The Group’s “Spark Culture” (星火文化) system and reached a consensus on The Group’s vision, mission, core values and strategies, and worked in solidarity among peers in the Company to achieve the shared goal of “achieving refined governance that makes ways for good achievement and serving the people” (善治善成，服務民生), which in turn facilitated The Group’s progress towards strategic and operational goals. The Group stepped up The Group’s efforts in building up The Group’s team of talents, and brought in more managerial and professional talents as well as new recruits from schools during the year. By enhancing The Group’s talent training across different levels as well as assessment and incentive system, a team that is competitive, diligent, pragmatic, aggressive and positive-minded could be built, which would give a stronger impetus to The Group’s development. Prospects: The year of 2020 marked the end of the 13th Five-Year Plan. The period of 13th Five-Year Plan represents the five years of hard work and dedication made by all Poly Property employees. In the past five years, The Group have capitalised on the rapid growth of the industry and achieved excellent results in the expansion of The Group’s strategic scope and diversification of businesses, thus establishing The Group’s competitive position as a pioneer in the era of Comprehensive Property. In these past five years, The Group also have been following The Group’s original philosophy on services and continued to offer high quality services, which have been well received by property owners, the government and society, and in turn significantly enhanced The Group’s brand reputation. Likewise, in these past five years, The Group have established an informatised and institutionalised system on corporate management and successfully listed on the Main Board of the Stock Exchange, included in indices including the Hang Seng Composite Index and the MSCI China Index, suggesting that The Group are highly recognised by the capital market. The year 2020 was also a year for the Group to conclude the past and devise for the future in terms of its strategic development. Looking ahead, the property management industry is facing a period that witnesses the speeding up of the process of industrial regulation and market-oriented development, the expansion of service scope, industrialisation of value-added services and digitalization in which The Group could seek any strategic opportunities. The industry has become more quality-oriented, regulated and market-oriented. The multiple policy documents issued in the last year have provided clear guidance for the longterm and healthy development of the industry. It is believed that by improving the operational mechanism of the industry and strengthening the regulation and supervision of the industry, the overall service level and marketability of the industry will be enhanced. Property management enterprises with good reputation and reliable service quality can further capitalise on their competitive advantages and enjoy better development opportunities. Optimistic about the extensive advantages brought by the expansion of service scope. As the property management industry further integrates into the basic social governance institution, the areas in which The Group’s services are available will expand from private communities to urban public spaces, and The Group’s service scope will also gradually expand from basic property services to professional ones such as municipal environmental sanitation services as well as facilities management services. By leveraging its professionalism and centralised management capabilities, the property management industry is expected to provide integrated solutions for public services offered by the government, thereby sharing the industry opportunities from serving people in areas such as market-oriented development of logistic services, the refined urban management and the renovation and maintenance of existing properties. Value-added services gradually entering into the phase of industrialisation. In the past few years, in general, the property management industry enjoyed a rapid increase in revenue by developing around the concept of community retailing or the offering of turnkey furnishing and move-in services. In the future, value-added services will break through the kick-off period and grow into a systemic industry. The Group may further satisfy diversified service needs of The Group’s property owners and various customers by keeping enhancing The Group’s products and services and producing a competitive and widely applicable business model that fits various circumstances, while truly integrating into daily consumption and service scenarios. Digitalization as the next impetus propelling development of the industry. New technologies such as the Internet, Internet of Things and big data will fundamentally reshape the traditional property management enterprises by improving management efficiency, revamping service models, offering high-quality and differentiated products, and speeding up the development of an industry chain. As the industry enters into a phase of scaling and focusing on quality and witnesses more horizontal extension of the industry chain, digitalization is inevitable for the industry to develop from a labour-intensive industry to be more of intelligent operation. Digitalization is also necessary for property management enterprises to enhance their market competitiveness and ability to expand. In the first year of the 14th Five-Year Plan, The Group will echo with and respond to national policies and capitalise on any strategic opportunities in the prime time for the development of the industry, while proactively realizing The Group’s corporate mission of “achieving refined governance that makes ways for good achievement and serving the people” (善治善成，服務民生) and realizing The Group’s development goal of becoming the leading provider of the Comprehensive Property ecosystem, by optimizing The Group’s scale and quality, introducing more innovative business models, continuing to improve The Group’s customer experience and speeding up technological empowerment and organisational innovation.

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