DJ Diversified Business Development Model has Achieved Initial Results, Landsea Green Life's Interim Revenue in 2023 Increased by 15.6% Year-on-Year
EQS Newswire / 28/08/2023 / 12:32 UTC+8
LANDSEA GREEN LIFE SERVICE COMPANY LIMITED
(Incorporated in the Cayman Islands with limited liability)
(Stock code: 1965)
Diversified Business Development Model has Achieved Initial Results,
Landsea Green Life's Interim Revenue in 2023 Increased by 15.6% Year-on-Year
(28 August 2023, Hong Kong) Landsea Green Life Service Company Limited (the "Company" or "Landsea Green Life",
together with its subsidiaries, the "Group") (stock code: 1965) is pleased to announce the interim results for the
six months ended 30 June 2023 ("the Period").
During the period under review, the Group's revenue reached approximately RMB483 million, representing an increase of
approximately 15.6% as compared with approximately RMB418 million for the corresponding period in 2022. By specific
business line, the revenue from property management services was approximately RMB360 million, accounting for
approximately 74.5% of the total revenue and representing an increase of approximately 30.0% as compared with
approximately RMB277 million for the corresponding period in 2022; the revenue from community value-added services was
approximately RMB40 million, accounting for approximately 8.3% of the total revenue and representing an increase of
approximately 21.2% as compared with RMB33 million for the corresponding period in 2022; the revenue from value-added
services to non-property owners was approximately RMB70 million, accounting for approximately 14.5% of the total
revenue; the revenue from apartment operation and management services, a new business segment this year, was
approximately RMB13 million, accounting for approximately 2.7% of total revenue. During the period, the Group's
recorded gross profit was approximately RMB87 million, and gross profit margin was approximately 18.0%. The Group's
recorded profit for the reporting period was approximately RMB14 million during the period.
The Scale of Management Continues to Expand, And the Performance of Non-residential Businesses is Outstanding
The Group keeps operation sustainability in mind as its strategic adjustment goes, takes the in-depth cooperation with
strategic customers as a long-term fulcrum, and adheres to the expansion of all business types. As of 30 June 2023,
contracted gross floor area ("GFA") of The Group was approximately 38.69 million sq.m.. The new contracted GFA in the
first half of 2023 amounted to approximately 2.27 million sq.m., of which, the new contracted GFA from independent
third parties accounting for approximately 92.5% of the total new contracted GFA in the first half of 2023. GFA under
management was approximately 30.64 million sq.m., representing a net increase of approximately 5.0% as compared to that
of 31 December 2022. During the period, we successfully acquired 16 new projects, with a management scale of 1.93
million sq.m., while proactively withdrawing from projects with operational efficiency that did not meet expectations.
At present, the Group with a total of 205 properties under management, including 170 residential properties, 25
commercial and office buildings and 10 urban services projects, serving over 250,000 households.
After experiencing a long period of brutal market competition, the Group is deeply learning from experience, quickly
reviewing and updating the competitive strategy, so as to achieve outstanding performance in the non-residential sector
in 2023. As of 30 June 2023, the number of non-residential projects bid in the market accounted for approximately 58.3%
of the total market expansion in the first half of 2023. Among them, the public infrastructure track set benchmarks for
projects such as Suzhou Yangtze River Delta Robotics and Artificial Intelligence Research Institute* (????????
???????? ) , Jingdong Kunshan Huaqiao Industrial Park (Phase II)* (?????????(??)), opening up the
highlight of non-residential growth. In the GFA under management of commercial and office buildings competition,
further increase in project scale. As of 30 June 2023, the new contracted GFA from our commercial and office buildings
projects were approximately 250,000 sq.m., the GFA under management was approximately 1.39 million sq.m., and the
revenue increased by approximately 15.6% as compared to the corresponding period in 2022.
Urban services represent a new breakthrough in the property industry, the Group also focuses on business expansion in
the urban service sector. Especially, In the first half of 2023, the Company successfully won the bid for the Siwei
Energy Industrial Park Project* (?????????), Guoyang Yangguang Power Industrial Park Project* (???????
????), a key breakthrough for the Group in the field of urban services, which contributes to the construction of
urban life service concept of the Group and to the further enrichment of our business portfolio. For the first half of
2023, the total revenue from urban service projects under management amounted to approximately RMB10.26 million.
Actively Build a Diversified Business System and Create a New Source of Profit Increase
The Group offers a wide range of community value-added services in its residential properties under management to meet
the changing needs of its customers and improve their quality of life. With the increasingly diversified types of
community living services provided, the profitability and operation level of the Group have been greatly improved. In
the first half of 2023, the revenue from community value-added services was approximately RMB40 million, increased by
approximately 21.2% as compared to the corresponding period in 2022. Especially in the online retail business, we
recorded an aggregate 52,900 sales orders, representing a year-on-year increase of 54.3% as compared to that of 2022,
and the transaction amount amounted to approximately RMB3.30 million during the period. While continuing to improve our
operational level, we strive to provide customers with a more convenient service experience.
The Group, as always, adheres to the service concept of "creating a warm community", continues to build the customer
community brand of Landsea Friends (????). As of 30 June 2023, we held 14 internal training sessions for more than
1,500 participants for continuous penetration of the core culture of "warm community" and establishment of a
standardized system for community building to front-line employees. In order to better gather the strength of
communities and connecting customers with the same interests, goals and values, the online Landsea Friends APP was
officially launched with 27,845 registered users and 274,106 cumulative visits. Besides, 220 interest groups were
established and in operation across the country to stimulate the community life. 325 activities were held successfully,
of which 84 were organized by residents on their own, gaining a total of 26,000 customers participating in various
community cultural activities with nearly 380,000 customers visits, and therefore realizing the goal of building a
community with online 3-in-1 tool for the "headquarters, property management services providers and customers".
In addition, in order to achieve quality scale expansion, the Group increased its deployment of potential long-term
rental business during the period and further expanded its business system. In March 2023, the Group successfully
acquired the asset-light business of Landsea Apartment (???), and managed more than 10,000 asset-light entrusted
management apartments, covering 13 first-and second-tier cities. In the field of longterm leasing, the Company will
accelerate the layout of integrated living platforms such as properties, rental and sales and long-term rental
apartments, deepen the development of the Yangtze River Delta region, and improve the regional concentration. During
the period , the Group realised revenue of approximately RMB12.84 million from apartment operation and management
services.
Persist in Exploring the Path of Sustainable Development and Continuously Improve Customer Experience and Operational
Efficiency
The Group is committed to continuously investing the research results of green operation into community environmental
governance, so that the residents of Landsea's community can enjoy a higher quality, healthier and sustainable
environment living experience. In the first half of 2023, we continued to conduct in-depth research on the construction
of green and low-carbon communities. During the period, we cooperated with the Institute of Ecology and Environment of
Nanjing University (Lishui) to carry out research on the topic of "carbon reduction and green operation and maintenance
in communities", and built a new system for carbon reduction and green operation and maintenance in communities from
various aspects including carbon emission management, energy management, water resource management and waste
management.
Meanwhile, the Group continues to promote the digital establishment of project service and internal operation and
management to further improve customer service experience and corporate operational efficiency. On the one hand, the
Group's intelligent inspection of internal equipment and facilities covers all projects under management, realising
platform-based management from maintenance and repair to warehousing and settlement, and simultaneously upgraded the
intelligent management system for community visitors and parking, in which the visitor management system has achieved
full project coverage, and the intelligent car parking management system was further promoted, covering more than 90%
of its own projects. On the other hand, the Group continued to optimise the operating spot management system, community
group purchase management system, housing rental and sales management system, home delivery service system and vehicle
charging system, in order to facilitate the development of value-added services business. Regarding internal operation
and management, in addition to continuously promoting the construction and optimisation of human resources and
financial sharing system and platform, the Group also initiated the construction of income and expenditure management
platform and taxation management platform in the first half of 2023 to further improve management efficiency and help
achieve refined management.
Looking to the future, the Group will continue to adhere to the corporate motto of "down-to-earth and longterm
ambition", serve customers with dedication and sincerely give back to the society. We will continue to build a "warm
community", be a trustworthy life partner and a trustworthy social citizen. We will embrace unpretentiousness, stay
steadfast, and achieve long-lasting success.
=-- END ---
About Landsea Green Life Service Company Limited
Landsea Green Life Service Company Limited (Stock code: 1965.HK) is a growing property management service provider
well-established in the Yangtze River Delta. Landsea Green Life provides diversified, high quality and featured
property management services and value-added services and ranked the 23rd among the "2022 Top 100 Property Management
Companies in the PRC". Landsea Green Life is also an established property management service provider in providing
property management services for green buildings. In terms of the GFA under management ratio of green buildings with an
accreditation of two stars or above, Landsea Green Life ranked third among the Top 100 Property Management Companies in
the PRC in 2021.
File: Diversified Business Development Model has Achieved Initial Results, Landsea Green Life's Interim Revenue in 2023
Increased by 15.6% Year-on-Year
28/08/2023 Dissemination of a Financial Press Release, transmitted by EQS News.
The issuer is solely responsible for the content of this announcement.
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(END) Dow Jones Newswires
August 28, 2023 00:32 ET (04:32 GMT)
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