Elegant Life Services (03319) announced annual results. Profit attributable to shareholders of 461 million yuan decreased by 74.95% year-on-year, and the management area reached 591 million square meters

Zhitongcaijing · 03/25 11:09

According to the Zhitong Finance App, Ya Life Service (03319) announced its annual results for the year ended December 31, 2023. The group achieved revenue of 15.443 billion yuan (RMB, same below) during the period, an increase of 0.42%; profit attributable to shareholders was 461 million yuan, a year-on-year decrease of 74.95%; basic profit per share was 0.32 yuan; and a final dividend of 0.06 yuan per share was proposed.

According to the announcement, for the year ended December 31, 2023, the total revenue from property management services, value-added services for owners and urban services was 14.529 billion yuan, an increase of 6.3% over the previous year, accounting for 94.1% of the Group's total revenue.

Among them, property management services include security, cleaning, greening, gardening, maintenance, etc., and are the Group's main source of revenue. During the year, revenue from property management services reached 10.807 billion yuan (2022:10.029 billion yuan), an increase of 7.8% over last year. Among them, revenue from residential property projects was 4,544 billion yuan (2022:4.172 billion yuan), an increase of 8.9% over last year. Revenue from non-residential property projects was $6.263 billion (2022: $5.857 billion), an increase of 6.9% over last year.

As of December 31, 2023, the Group's managed area and contract area reached 591 million square meters and 767 million square meters respectively. Among them, third-party projects account for about 83.3% of the area under management, and third-party projects have become the Group's main source of area.

The Group has established a first-mover advantage in business segments such as housing, public buildings and commercial offices, forming a balanced layout across all business categories. As of December 31, 2023, the residential sector accounted for 42.4% of the Group's management area (43.6% as of December 31, 2022), and the non-residential sector accounted for 57.6% (56.4% as of December 31, 2022) (public buildings accounted for 46.0%, commercial and others 11.6%).

Furthermore, the Group continues to receive recognition from society and industry, ranking in the “2023 China Top 100 Property Service Companies TOP2” in the comprehensive industry rankings selected by the China Index Institute, increasing its brand value to more than 20 billion yuan, and winning awards such as “2023 China's Leading Brand Enterprise with Specialized Property Service Operation”, “2023 Top 2 Comprehensive Strength of Listed Chinese Property Service Companies”, and “2023 Excellent ESG Practice Enterprise for China Property Service Listed Companies”.