New Hope Services: Net profit margin attributable to the parent Company was 17.1% in 2023, annual dividend payout ratio reached 60%

New Hope Service Holdings Limited (New Hope Service or the Company, Stock Code: 3658), an integrated property management enterprise engaging in the provision of lifestyle service solutions, announced its annual results for the year ended 31 December 2023 (the Reporting Period).

In 2023, New Hope Service focused on advantageous areas, persisted in qualitative expansion, and achieved high-quality growth in core performance indicators by tapping into increased profits through commercial operational services and lifestyle services. During the Reporting Period, the Group recorded revenue of approximately RMB1,260.7 million, representing an increase of 10.7% as compared to the same period last yearï¼›Gross profit was approximately RMB440 million, and gross profit margin was 34.9%. Net profit margin attributable to the parent Company was 17.1%, remaining at mid-to-high level. Meanwhile, the Company has strengthened operations and lean management, yielding profit attributable to equity shareholders of the Company amounting to approximately RMB215 million, and basic earnings per share RMB0.26, an increase of 6% over the same period last year. The Board recommended payment of a final dividend of RMB0.091 per share, with an interim dividend of RMB0.067 per share, for a total annual dividend of RMB0.158 per share, equivalent to a dividend payout ratio of 60%. As at the end of the Reporting Period, the Company’s net cash flow from operating activities climbed by 87.1% against the same period last year to approximately RMB335 million, reflective of the healthy operation and ample cash flow of the Company.

Tap into local needs and focus on advantageous areas

New Hope Service continued to follow the development strategy of deep regional penetration. As at 31 December 2023, the Group had projects in 33 cities across China, with the area under management 32,258,000 square meters (“sq.m.”), representing an increase of 11.9% as compared to the same period last year, and the contracted area of 38,172,000 sq.m., representing an increase of 5.6% as compared to the same period last year. Among them, 95.1% of the Group’s property management projects were in first-tier, new first-tier and second-tier cities in China, while 93.8% of revenue from property management was also derived from such cities.

In addition, New Hope Service continued to step up its efforts in high-tier cities in the Southwestern China regions with Chengdu as the core, and Eastern China regions, both of which accounted for 85.3% of the total area under management, with the advantage of regional intensity continuing to emerge. Specifically, the area under management in the Southwestern China region was 16,918,000 sq.m., and the revenue from property management was RMB310 million, accounting for 47.4% of the total revenue from property management. As the national central city in the Western China region, the area under management in Chengdu was 10,642,000 sq.m., accounting for 33% of the total area under management; The area under management in the Eastern China region was 10,628,000 sq.m., and the revenue from property management was RMB250 million, accounting for 37.9% of the total revenue from property management.

Insist on quality expansion and enhance independent capability

The Company insisted on balancing “quality” and “scale”, and continued to conduct multi-channel market expansion via, among other means, bidding, establishing joint ventures and strategic partnership. In 2023, the company successfully completed the acquisition of Chengdu Jinguan Xincheng Property Management Co., Ltd., successfully expanded high-end residential projects such as Sunshine City Tan Yue and Binjiangjiuli, financial industry projects such as China Guangfa Bank Kunming Branch* and China Construction Bank Sichuan Branch Xinjin and Dayi Sub-branch, and industrial park projects such as Chantou Jiangnan Industrial Park and Vipshop Guangxi Headquarters*. Meanwhile, New Hope Service established joint venture with Chengdu Wuhou State-owned Capital Investment and Operation Group Co., Ltd., Chengdu Wuhou Development Co., Ltd., Chengdu Wuhou Capital Investment Management Group Co., Ltd, and Longquan Economic and Technological Development Zone respectively, and successfully signed contracts for projects such as Shuanghua Digital Industrial Park and Tiefo Park. During the Reporting Period, the contracted area under management by independent third-party developers accounted for approximately 40% of the total contracted area, representing an increase of 6.2% as compared to the same period last year.

Moreover, benefitted from New Hope Wuxin Industrial’s relatively strong performance capability, the Company delivered projects as scheduled in 16 cities nationwide, amounting to nearly 37,000 units in total, and brought the Company concrete support for continuous growth in terms of GFA under management.  Sticking to maintain the quality of middle-to-high-end projects, the Company recorded the average management fee per sq.m. of RMB2.95 during the Reporting Period.

Non-cyclical businesses are steadily growing and commercial operations are delivering performance results

By virtue of the industrial background of the Fortune Global 500 New Hope Group and relying on the customer-access attributes of property services, the Company achieved good performance growth in the lifestyle services segment through non-cyclical businesses such as group-on meals and retail services. As at 31 December 2023, the Company had 22 group-on meal business projects in operation, of which 50% fell within the comprehensive logistics services of “property + group-on meal”, achieving a bid winning rate of 42%. In the same year, customized services for corporate customers also achieved good results, a total of 24 products developed and more than 110,000 customized gift boxes provided, with the revenue from gift boxes increasing by 56.4% as compared with the same period last year.

In terms of commercial operational services, in 2023, in order to meet the needs of business development, the Company established a commercial operation company with its organization developed around “financing, investment, management and exit”. During the Reporting Period, the GFA from operating commercial projects under management by the Group was approximately 539,000 sq.m., in cities such as Chengdu and Kunming covering consumption scenarios such as professional markets, commercial streets, industrial parks and office buildings, with an average occupancy rate of 87.8%, a gross profit margin of 60.2%.

With steady development, industry-leading service quality and customer reputation, New Hope Service has been rated as one of the “TOP 100 Property Management Companies in China” by China Index Academy (“CIA”) for four consecutive years, with the ranking of the Company rising up to the 6th (10th in 2022) in terms of the market influence in Western China. Meanwhile, the company won the honors including “Top 1 Chengdu Enterprise with Excellent Service Capacity in China Property Service Industry in 2023” and “Top 5 of the Top 50 Chengdu Property Services Enterprises in terms of Comprehensive Strength in 2023.

Going forward, the Group will continue to strengthen digital construction to empower high-quality services and the improvement of management efficiency. In terms of residential business, the Group will consolidate its position as a benchmark for high-end residential projects, and empower other projects with high service standards. In terms of non-residential business, based on the all-round planning for corporate services, the Group will continue to provide B-end customers with extensive corporate services, precisely covering the needs of various companies at different stages of development. The Group will adhere to regional cultivation, with market-oriented expansion as well as investments, mergers and acquisitions, so as to expedite the development of the Company. In the future, New Hope Service will facilitate the connection with New Hope Group, and drill down into New Hope’s brand strengths in lifestyle in order to offer the clients diversified comprehensive solutions for lifestyle services.


Topic: Press release summary

Sectors: Daily Finance

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Ventura Air Services Elevates Safety Standards with ARGUS Platinum and IS-BAO Stage Two Certification

 Ventura Air Services, a provider of private jet charter and aircraft management services since 1955, is proud to announce a significant milestone in its commitment to safety. The company has recently achieved upgraded safety ratings, having renewed their ARGUS Platinum rating for a second straight certification and has now attained IS-BAO Stage Two certification.

Ventura Air Services has consistently prioritized safety as a core tenet of its business, and these prestigious certifications underscore its unwavering dedication to excellence in aviation safety.

The ARGUS Platinum designation is reserved only for a select group of operators. This groundbreaking program revolutionizes the monitoring of operational safety performance by providing real-time visibility to significant operator changes. With this certification, Ventura Air Services demonstrates its commitment to maintaining the highest level of safety standards in the industry.

In addition, Ventura has attained the prestigious IS-BAO Stage Two certification, which validates that safety management activities are effectively targeted and managed to mitigate risks. This certification ensures that safety protocols are seamlessly integrated into the operator’s business, fostering a positive and consistent safety culture across all operations.

“Ventura Air Services is immensely proud to have achieved safety ratings of ARGUS Platinum and the upgrade to IS-BAO Stage Two,” said Sam Wolf, President at Ventura Air Services. “These achievements represent our commitment to prioritizing safety as a fundamental value in our business operations. We continuously strive to exceed industry standards and provide our clients with the utmost confidence and peace of mind when choosing Ventura for their private jet charter and management services.”

Ventura Air Services’ dedication to excellence, safety, and exceptional service solidify its position as a trusted leader in the private jet charter and aircraft management industry.

About Ventura
Since 1955, Ventura has established itself as a premier provider of private jet charter and aircraft management services, delivering exceptional travel experiences to clients around the world. With in-house aircraft maintenance and avionics departments and an expanding fleet of Citation Excels and Challenger 604s, Ventura is poised to continue building on its reputation as an industry leader. Ventura’s unique and innovative business model offers point-to-point pricing, operational excellence, and a commitment to safety and reliability that sets them apart in the industry. For more information, visit venturajet.com.

Ventura Air Services
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859-415-8035
www.venturajet.com

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Hong Kong – Correctional Services Department combats illicit activities of persons in custody

Correctional Services Department combats illicit activities of persons in custody

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     ​The Correctional Services Department (CSD) today (February 15) launched an operation at Tai Lam Correctional Institution to combat illicit activities.

     The management of Tai Lam Correctional Institution stepped up measures to combat illicit food transaction activities among persons in custody during Lunar New Year and continued to closely monitor relevant target persons in custody.

     At 8.24am today, two persons in custody were found involved in illicit food transaction activities in the dining hall of the institution. Correctional officers immediately took disciplinary action against them. During the incident, six persons in custody in the dining hall expressed support and acted collectively against the institution management, attempting to exert pressure on the institution management to withdraw all disciplinary actions. Officers at the scene immediately removed them from the dining hall for separate investigation. 

     Intelligence also revealed that there were other persons in custody intended to advocate for the persons in custody involved in the incident with the aim to worsen the situation. Following an assessment and detailed planning, the CSD deployed reinforcements to Tai Lam Correctional Institution, including members of the Regional Response Team, the Security Unit, the Dog Unit and other reinforcing members, to conduct a special searching operation on the target persons. Later, 11 other persons in custody who were suspected of involving in the aforementioned activities and possession of unauthorised articles were removed from associating with others for investigation. The CSD will continue to closely monitor the development. 

     In order to assist persons in custody to rehabilitate in a safe and orderly environment, the CSD spares no effort in combating illicit activities of all kinds in its institutions.

     Tai Lam Correctional Institution is a minimum security institution for the detention of male adult convicted persons in custody.

KLM Equipment Services bought by TCR International

KLM Equipment Services BV (KES) will become part of TCR International NV. A key reason for this move by KLM is that it will enable KES to seize growth opportunities, thereby guaranteeing long-term continuity. Under the new owner, KES will also be able to pursue the further electrification of its ground equipment. KLM will continue to cooperate closely with KES

Amstelveen – WEBWIRE

Under the agreement, KLM will become a TCR customer for the maintenance and lease of ground equipment, while KES/TCR will be responsible for investment in equipment.

KES, a wholly-owned KLM subsidiary, handles the maintenance, fleet management and refuelling/recharging of vehicles and equipment required for ground handling at Schiphol. KES is also owner of the ground power units (GPUs) used by airlines to supply aircraft with electricity on the ground at Schiphol.

KES employs around 100 people, who will retain their current terms and conditions of employment. KESs refuelling activities will be transferred to KLM Ground Services, meaning eight KES employees will transfer to KLM.

TCR International NV is a Belgium-based company, which earns annual revenue of around EUR 250 million and employs more than 1,500 people. It has a global presence in the GSE market, focusing on equipment maintenance, leasing and pooling services. TCR has a branch in the Netherlands (TCR NL), which already provides KLM with maintenance and leasing services. TCR has the means and scale to invest in the development of KES. KLM will remain a KES customer.

No further details will be released regarding the purchase price.

Photo caption:

From left to right: Patrice de Hemptinne, General Counsel TCR, Erik de Harder, Director Benelux/Nordics TCR, Erik Swelheim, CFO KLM, Roeland Pompen, Director Holdings M&A KLM, Bruno Vanpoucke, Commercial Director TCR, Tom Bellekens, CEO TCR, Andrea van Sleen, KLM Legal, John de Hollander, VP Finance KLM Ground Services

Hong Kong – Postal services to Belgium subject to delay

Postal services to Belgium subject to delay

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     ​Hongkong Post announced today (January 23) that, as advised by the postal administration of Belgium, due to heavy snowfall, mail delivery services to Belgium are subject to delay.