Soundy Service Management Co., Ltd. (hereinafter referred to as "Songdu Service", stock code: 09608.HK) was established in 1995 and successfully listed on the Hong Kong Stock Exchange in January 2021. On April 30,Sundy Services officially released its annual report for 2020, handing over its first annual report report since going public. During the reporting period, the service performance of Sundyl increased steadily, the scale accelerated expansion, and the marketization ability improved significantly.

With the concept of "expanding the scale, basing on the main business and entering the market", sundy service is committed to providing quality property management services for owners and residents. In 2020, the service management scale of Sundy Service reached 8.152 million square meters, with a year-on-year growth of 37.1%. The number of management projects increased from 29 to 46, with a rapid growth rate of 58.6%.

Aggressive expansion on the map, Sundy service, continuously broaden the radius of the business management, during the reporting period of new Shanghai, shaoxing, kunshan, your port, taizhou and liuzhou six branches, and jilin and ningbo in the new set up subsidiaries, to further improve management radius, and actively expand extension on the formats, hotels, education park management and project agreement, Continuously rich diversified property sector income. In the property management service of Sundy Service in 2020, the non-residential property income accounted for 33.6%, an increase of 7.5 percentage points year on year, showing significant growth.

At the same time, the improvement effect of service extension ability of Sundy Service was remarkable. Among the 17 new projects in the reporting period, 7 were independent third-party developers' extension projects, and the number of new extension projects accounted for 41.2%. The revenue of external expansion increased to 38.26 million yuan, with a year-on-year increase of 378.8%. With the continuous improvement of marketization operation ability, the scale of property management service of Sundy Service is expected to achieve accelerated leap growth in the future.

In 2020, Sundy Service adheres to the business philosophy of steady development and continuous improvement in its business capacity. In 2020, its revenue reaches 256 million yuan, an increase of 15.4% compared with 2019. The solid growth of performance was mainly due to the property management service as the core business of Song Capital Services, with a revenue of 128 million yuan, accounting for 49.9% of the total revenue, and continued the rapid growth momentum before, with a year-on-year growth of 34.0%.

On the other hand, Sundy services in the focus on the core business scale growth at the same time, maintain strong profitability. In 2020, the gross profit of the service of Sundy reached 77.858 million yuan, an increase of 20.0% compared with that of 2019, and the growth rate was higher than that of the revenue. At the same time, the gross profit rate increased continuously in recent years, breaking the 30% mark in the reporting period, reaching 30.3%. After excluding listing fees, the net profit was about 47.1 million yuan, and the adjusted net interest rate exceeded 18% for two consecutive years, far exceeding the general level of the industry.

Since Zhejiang Provincial Government proposed "Future Communities" in 2019, Sundy Service has actively cooperated with the government and become one of the first 24 urban service providers of future communities in China. In the field of intelligent community, Sundy Services has established comprehensive cooperation with global AI+IoT platform Tuo Intelligence to jointly promote the implementation of community projects such as "community + intelligence" and "property + intelligence", jointly excavate the market value of intelligent community, and improve community service level and management efficiency.

At the same time, Sundy Services, together with the government, sound the first clarket of "urban services for old communities", and actively participate in the future community pilot program of Jianggan District, Hangzhou, managing 36 old communities in Caihe Street, which has been highly recognized by the government and the industry. In order to better focus on the old community property service market, Sundy Service established a wholly-owned subsidiary "Herui Life", launched the "Gold Management" large property service mode, positioning the old community urban service comprehensive platform, around the five main body to carry out four businesses to improve the old community "bottom, scattered, small" situation. Based on the work orientation of "no increase in fees, improved standards and upgraded services", and on the basis of meeting the primary property services such as cleaning, ordering and greening of old residential areas, the government service functions such as garbage sorting, anti-violation and co-management of five rivers are integrated. On the summary of the management mode and experience of the old community, Sundy Service wrote the White Paper on Urban Services of the Old Community, which provides benchmarking guidance for the management and operation of the old community, and also provides a reference perspective for the future development of community management services.

【 conclusion 】

Looking forward to the future, sundy services will continue to expand business scale through various channels, increase market share and geographical distribution, and strive to become the top property service provider brand in the Yangtze River Delta region. At the same time, Sundy Service will adhere to the corporate mission of "Refresh with service and beautiful life", continue to innovate basic property services, empower smart communities with technology, continue to innovate in the urban services of old communities, dig deep property service industry chain, and commit to the comprehensive construction of future communities.

(Reprinted from China Property Research Institute)