SCE CM Announces 2022 Interim Results
- Written by The Bulletin
GFA Under Management Increased Up to 30%
2022 Interim Results Highlights:
| | For the six months ended 30th June | | ||
| (RMB million) | 2022 | 2021 | Change | |
| Revenue | 605 | 579 | +4% | |
| Gross profit | 252 | 286 | -12% | |
| Profit attributable to owners of the parent | 134 | 151 | -11% | |
| | ||||
| Contracted projects | GFA (million sq.m) | 48.6 | 41.9 | +16% |
| Number of projects | 264 | 234 | +30 | |
| Projects under management | GFA (million sq.m) | 24.0 | 18.6 | +29% |
| Number of projects | 156 | 125 | +31 | |
HONG KONG SAR - Media OutReach - 31 August 2022 - SCE Intelligent Commercial Management Holdings Limited ("SCE CM" or the "Company", together with its subsidiaries, the "Group", HKEX Stock Code: 606), a comprehensive property management service provider in China, is pleased to announce its unaudited interim results for the six months ended 30th June 2022 (the "Period").
Benefiting from the increase in GFA under management, the Group recorded a 4% year-on-year (YoY) increase in revenue to approximately RMB605 million during the Period. Gross profit was RMB 252 million, overall gross profit margin reached approximately 41.6%. During the Period, the Group recorded a profit of RMB137 million. Profit attributable to owners of the parent was RMB134 million and the basic earnings per share was RMB6.47 cents.
As of 30th June 2022, the Group's total number of contracted commercial property projects and commercial property projects under management were 43 and 16, respectively. The corresponding contracted GFA increased by 24% YoY to approximately 6 million sq.m, while GFA under management saw a substantial YoY increase of 51% to approximately 1.6 million sq.m. The commercial property management and operational services segment contributed approximately RMB203 million to the revenue.
For the residential property management services segment, the Group recorded a revenue of approximately RMB402 million, increased by 35% YoY. Thanks to economies of scales achieved from business expansion, the gross profit margin rose from 35.7% to 39.8% as compared to the same period last year. As of 30 June 2022, the Group had a total of 221 contracted residential projects, total contracted GFA increased by 15% YoY to approximately 42.5 million sq.m. The number of residential projects under management increased by 27 to a total of 140, the corresponding GFA also recorded an increase of 27% YoY to approximately 22.4 million sq.m.
Despite the persistent impacts the COVID-19 outbreaks had on SCE CM and the industry as a whole in the first half of the year, the Group strived to promote the enhancement of experience-based commercial space and actively expanded its diversified business by focusing on multiple aspects such as joint sales and online planning, successfully offsetting the impacts of the pandemic and achieving excellent results. Mr. Wong Lun, Chairman of SCE CM, said, "Looking ahead, SCE CM will continue to promote digital application to lower the demand for human resources to further enhance the Group's profitability. The Group will also continue to drive the expansion of third parties' projects under management by increasing the number of contracted projects and projects under management, so as to further enhance the operational capabilities of the Group and its influence in the market."
Hashtag: #SCEIntelligentCommercialManagement
The issuer is solely responsible for the content of this announcement.
About SCE Intelligent Commercial Management Holdings Limited (HKEX Stock Code:606)
Established in 2003, SCE Intelligent Commercial Management Holdings Limited is a comprehensive property management service provider that mainly engages in commercial property management and operation services as well as residential property management services. The regions it serve include the West Taiwan Strait Economic Zone, Yangtze River Delta Economic Zone, the Bohai Rim Economic Zone, the Guangdong-Hong Kong-Macao Greater Bay Area, and the Central Western Region. As of 30th June 2022, SCE CM had a large contracted property management portfolio encompassing 61 cities across 18 provinces, municipalities and autonomous regions in China. In 2022, SCE CM was awarded the"2022 Top 100 Property Management Companies in China" and"2022 Top 100 Property Management Companies in China with Leading Quality" by the China Index Academy. SCE CM will continue to expand nationwide, highlighting its strength as a chain and its brand effect to strive to become the leading property management services provider in China.
For more information, please visit SCE CM's website： www.sce-icm.com
