Revenue increased by nearly 30%, Yuexiu Services deeply engaged in value-added services to promote high-quality growth

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High-quality development has become the core keyword of the property industry in 2023. Property companies no longer blindly pursue growth in scale, but pay more attention to quality expansion. From the operating performance of listed logistics companies that have disclosed their 2023 annual reports, we can see that logistics companies that adhere to high-quality services are more likely to achieve healthy development, such as Yuexiu Services (stock code: 06626.HK), which disclosed its annual report on March 18. In 2023, Yuexiu Services’ revenue and profits attributable to shareholders have both achieved steady growth, and each business segment has shown steady and high-quality growth, delivering an outstanding report card.

  Do a good job, be precise and thorough, and continue to optimize and improve diversified businesses

The real estate industry is currently in a period of adjustment, and listed property companies are sparing no effort to develop community value-added services and expand multi-format services and profit channels. Against such a background, Yuexiu Service adheres to long-termism and sustainable service quality, provides services and products that are both refined and thorough, and provides customers with more satisfactory services. With the support of high-quality products and services, Yuexiu Services will achieve operating income of 3.224 billion yuan in 2023, a year-on-year increase of 29.7%, and its performance growth rate ranks among the top in the industry.

On March 18, Yuexiu Services announced its full-year results for 2023. During the reporting period, the company achieved continued business structure optimization and revenue improvement. The annual report shows that Yuexiu Service’s revenue in 2023 includes basic property management services revenue of RMB 1.029 billion, accounting for 31.9% of total revenue; community value-added service revenue of RMB 932 million, accounting for 28.9% of total revenue; non-owner value-added services Revenue was RMB 669 million, accounting for 20.8% of total revenue. In addition, revenue from commercial property management and operation services was RMB 594 million, accounting for 18.4% of total revenue.

It is worth mentioning that in 2023, Yuexiu Services will focus on improving service quality, continue to tap the value-added service potential of projects, integrate online and offline service resources, cover all aspects of clothing, food, housing and transportation, and provide new retail, home services, commercial facilities, rental and sales intermediaries, Value-added services such as Mercure have increased their business scale and revenue, and the service penetration rate has increased strongly.

  Consolidate basic property management business,Deep cultivationValue-added service business

The quality of basic property services is the foundation for the establishment and development of property companies. The basic performance of Yuexiu Service’s property services has always been stable, and its basic property service capabilities have been continuously improved. The annual report shows that in 2023, Yuexiu Services’ basic property management services achieved high-quality development, with operating income increasing by 26.7% year-on-year to RMB 1.029 billion. In addition to revenue growth, customer satisfaction has reached the 95th percentile in the industry for two consecutive years, and service professionalism continues to improve.

It is understood that Yuexiu Services has continued to increase investment in the construction and quality improvement of basic service quality capabilities in recent years. Based on customer needs in different regions, different levels, and different dimensions, it has created differentiated services from multiple dimensions such as service price, service content, and service scenarios. The three major residential property management product lines of “Zhenyue, Platinum and Xiangyue” provide professional, refined and personalized services. During the reporting period, the first Zhenyue series projects were launched in Panyu and Yuefu.

At the same time, Yuexiu Services continues to strengthen the “service consumption” attribute. Based on its own resource endowment and corporate advantages, it focuses on deeply cultivating community value-added service products, continuously develops products and services that are close to the real needs of customers, and creates new retail, brokerage, and beauty services. It has five major business platforms: residential, community commerce and intelligence. During the reporting period, Yuexiu Service Community’s value-added services achieved revenue of RMB 932 million, a year-on-year increase of 43.3%, and its performance was outstanding.

  Strengthen services and strengthen business strategies, and continue to tap the potential of the existing market

Facing the background of real estate industry adjustment, competition in the stock market of the property industry has become increasingly fierce. CRIC analysis pointed out that due to the shrinkage of the overall housing scale and the concentration of incremental demand in third-tier and lower cities, the expansion of the incremental market of logistics companies has been limited. The stock market has become the focus of logistics companies, and the competition in the stock market has become fierce. . Industry insiders believe that only by firm strategy, quality control, hard work, and impressing customers with professional and differentiated services can we stand out in the fiercely competitive market.

As a leading enterprise in comprehensive property management in the Greater Bay Area, Yuexiu Services has more than 30 years of experience in urban operations. It has achieved a diversified layout in four major business formats: residential, commercial, transportation and urban services. The project types include residential, subway properties, office buildings, Various business formats such as commercial complexes, professional markets, large exhibition halls, government affairs centers, industrial parks and other urban service facilities have formed a national network with the Greater Bay Area as the core and East China, Central China, North and West China as important supports. Business layout. In terms of market expansion, Yuexiu Services has shown strong resilience. The market expansion area in 2023 will reach 10.64 million square meters, a year-on-year increase of 26.2%, and it has harvested multiple high-quality projects including the BASF (Guangdong) one-stop base project. .

In the past two years, the management scale of Yuexiu Services has maintained a double-digit growth rate. As of December 31, 2023, Yuexiu’s service contract area was 83.45 million square meters, a year-on-year increase of 18.2%; the area under management was 65.21 million square meters, a year-on-year increase of 26.2%; there were 476 contracted projects, 408 projects under management, and services There are 280,000 owners. During the reporting period, the newly added contract area reached 15.42 million square meters.

Yuexiu Service stated in its annual report that the company will implement strong service and strong business strategies in the future, build core products with customers as the center, and create professional property management services in the four major business segments of residential, TOD, commercial, urban and public construction. service, providing customers with high-quality services. In terms of ESG strategy, in the future, we will continue to focus on six major directions: good governance, quality services, green properties, caring for employees, win-win cooperation, and social welfare to create core competitiveness for sustainable development. At the same time, we will integrate ESG into business operations, develop photovoltaic power generation, and create Low carbon demonstration project.

Mr. Lin Feng, non-executive director and chairman of the board of directors of Yuexiu Service, said that looking back on the past year, high-quality development and a return to service attributes have become the main tone of the property management industry. As a service-oriented and operational business, property management is asset-light and has stable cash flow. In the long run, it has huge development potential. In 2024, Yuexiu Service will take “intensive service to improve quality, lean management to create benefits” as its annual theme to build a better reputation, enhance market competitiveness, and strive for greater development space.

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