Times Neighborhood: No longer set the target of acquisition and acquisition. The target of expansion area in 2022 is 25 million square meters

2022-05-28 0 By

This article is transferred from: China Business Network reporter Chen Ting Tong Haihua reported in Shenzhen, “2021 is the end of the first ‘three-year plan’ of Times Neighborhood.Under the fierce competition in the industry, Times Neighbor successfully completed the established ‘three-year plan’ goals, especially in the scale of value-added business breakthroughs, laying a good foundation for future development.”Bai Sik Hong, chairman of the board and non-executive director of Time Neighborhood Holdings Limited (9928.HK), said at the full-year 2021 results presentation on April 1.According to the performance announcement, in 2021, time Neighborhood realized revenue of 2.72 billion yuan, a year-on-year increase of 55%;Gross profit increased by 40% year-on-year to 740 million yuan;Core net profit attributable to shareholders was RMB330 million, up 42% year-on-year;Gross margin of 27.3%, shareholders attributable core net margin of 12.2%.As at December 31, 2021, Times Neighbourhood’s total contracted area was 132 million square metres and total in-pipe area was 106 million square metres, increasing the contracted in-pipe ratio to 1.25 square metres.Guo Bocheng, chief financial officer of Times Neighborhood, said that in 2022, times Neighborhood’s third party expansion target is 25 million square meters (excluding acquisition and acquisition), and the company will no longer set a target for the volume of acquisition and acquisition, and the area growth brought by acquisition and acquisition will become an additional increment.At the performance meeting of pipe area exceeding 100 million square meters, Bai Xihong introduced that by the end of 2021, the total pipe area of times Neighborhood has exceeded 100 million square meters, a five-fold increase compared with the beginning of 2019.From 2019 to 2021, the company’s revenue grew at a compound rate of 55%;The three-year compound growth rate of net profit of the mother reached 42%.The announcement shows that in the past year, times Neighborhood’s newly expanded independent outer area increased by 128% year-on-year to 20.16 million square meters, with a compound growth rate of 87% from 2019 to 2021.Among them, through acquisition and acquisition, the contracted area of the company’s residential business increased from 42% in 2019 to 56% in 2021.In 2021, the property management service revenue of Times Neighborhood reached 1.577 billion yuan, up 56.2% year on year, accounting for 58% of the company’s total revenue, up 0.6 percentage points compared with 2020.By the end of 2021, the company is in charge of 901 property management projects (excluding 27 urban public service projects), a total of 137 contract property management projects have not been handed over to the company, the undelivered floor area of 26.5 million square meters.In 2021, times Neighborhood’s contract area and in-pipe area will increase by 62% and 53% year-on-year respectively.Among them, the contract area and in-pipeline area of residential buildings increased by 113% and 118% respectively year-on-year, with a compound growth rate of 79% and 84% respectively in three years.By the end of 2021, the company’s residential contract area, in the area of pipe accounted for 74% and 49% respectively.Regionally, by December 31, 2021, the contracted area of Times Neighborhood in the Greater Bay Area is 59.685 million square meters, and the total in-pipe area is 49.397 million square meters, with year-on-year growth of 15.58% and 8.6% respectively.It is worth noting that in addition to the Greater Bay Area, the growth rate of contracted area of times Neighborhood in the Yangtze River Delta urban agglomeration, Chengdu-Chongqing urban agglomeration and Central China urban agglomeration will exceed 50% annually in 2021.Among them, chengdu-Chongqing urban agglomeration contract area growth rate is the highest, reaching 1596%.As of December 31, 2021, the contract area of the four core urban agglomerations accounted for 70% of the total contract area of the parent company.In terms of residential management fees, times Neighborhood will charge 2.7 yuan/square meter, 2.7 yuan/square meter, 2 yuan/square meter and 2.2 yuan/square meter in the Greater Bay Area, Yangtze River Delta city cluster, Chengdu-Chongqing City cluster and Central China city cluster respectively in 2021.In addition to the housing business, the property management service business of Times Neighborhood also includes industrial park and public construction, which are the core business of the company.In 2021, the contracted area of the three formats increased 73% year-on-year to 110 million square meters, rising from 79% to 84%.Guo Bocheng said that times neighborhood in the residential business strategy is to do density, deep cultivation of the area to improve management efficiency;We should deepen industrial forms and promote national expansion through in-depth cooperation.In the public construction industry to do breadth, to create a platform to achieve regional leading.Community value-added service income accounted for 20% Bai Xihong said that times neighborhood adhere to the long-term principle, while paying attention to property quality, attaches importance to community operation.In 2021, the company’s revenue from community value-added services reached 550 million yuan, a nine-fold increase in three years (2019-2021).According to the announcement, the community value-added services of Times Neighborhood include two major categories of services, one is public space rental and parking space management, and the other is life services.Among them, the living services mainly include carrying bags to move in, house renovation, asset management, community group purchase and housekeeping services.In 2021, time Neighborhood’s share of community value-added service revenue will rise to 20% from 11% in 2020.The company noted that the increase in community value-added service revenue was mainly due to the increase in the area under management, the diversification of service business types and the rapid growth of service users.In terms of specific business segments, in 2021, the space operation point of times Neighborhood increased by 21% year on year, realizing revenue of 103 million yuan, up 50% year on year;Mercure business contract merchants increased 151%, revenue of 242 million yuan, an increase of nearly 9 times;Asset services accelerated transformation, realizing revenue of 30 million yuan, up 18% year on year;Community group purchase revenue 77 million yuan, up 235% year on year;The revenue of community life-support services reached 93 million yuan, up 121 percent year on year.In addition, times Neighborhood will realize online comprehensive property services, community transactions and project management in 2021.Among them, the owner certification rate of Neighborhood Bang APP is over 80%, and the users covered by online mall increase by 46% year on year. The mutual drainage of service and operation and the interconnection of online and offline traffic promote business development.Mention the future, kuo po-cheng, said the company adhere to the “4321” core strategy, which focuses on four core urban agglomeration (large bay area, Yangtze river delta, chengdu-chongqing expressway, and central China), the layout of the three core formats (residential, industrial and public), realize the two core growth (tube services and value-added services to the community), a full life cycle of “technology + services” platform.”In 2022, is a company under a” three-year plan “the beginning of the year, we will be adhering to the socialism for a long time, continue to adhere to the core of the ‘4321’ strategic layout, focus on the four urban agglomeration and city circle of high-speed growth, focused on the three major forms of the housing industrial park and the public, through the platform construction of” science and technology + services “, the revenue of multiple growth.We will continue to focus on scale and platform, strengthen our operational capabilities, product capabilities, organizational capabilities and service capabilities, and strive to achieve the planned goals for the next three years.”Bai Sihong said.For the scale, Guo Bocheng revealed that the medium and long term goal of times Neighborhood is to achieve management scale of more than 200 million square meters by 2024.As at December 31, 2021, Time Neighborhood had cash and cash equivalents of $814 million and net assets of $1.933 billion.