Sino-ocean Service Holding Ltd. · HKEX:6677
Sino-ocean Service — FY2021 Earnings Presentation
25 slides from Sino-ocean Service's earnings presentation, 2022
Slide 1: Sino-Ocean Service Annual Results 2021
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Slide 2: Highlights
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Slide 3: Highlights
Highlights New stage contracted GFA reaching 100m㎡ Ongoing revenue & profit growth Third-party expansion in full swing Contracted GFA 105.9m ㎡ 49% Total revenue 2,966m 47% New contracted GFA 25.0m ㎡ 174% from third parties GFA under 62% Gross profit 61% % of third-party 18pct. 73.5m ㎡ 825m contracte
Slide 4: Overviews
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Slide 5: Revenue mix further optimized
Revenue mix further optimized Substantial growth in both revenue and profit, as revenue and core net profit rose by 46.6% and 79.2%, respectively, YoY Our revenue and profit mix continued to optimize as percentage share of Community VAS rose substantially to 26.6%, while Commercial Operational a
Slide 6: New stage: contracted GFA exceeded 100m ㎡
New stage: contracted GFA exceeded 100m ㎡ As at 31 December 2021, contracted GFA reached 106 m ㎡ and GFA under management was 73.5 m ㎡ Out of the new contracted GFA for the year, third parties projects reached 32.6 m ㎡ or 87.0% Boosted by strong third-party expansion efforts, third parties pro
Slide 7: Third-party expansion in full swing with notable results
Third-party expansion in full swing with notable results Third-party expansion grew in volume and quality as third-party GFA rose substantially to 25.0m ㎡, underpinning a CAGR of 427.0% in third-party GFA for 2019-2021 Commercial projects accounted for 25% of new external projects in 2021 New GF
Slide 8: Diversified GFA source supporting stable growth in scale
Diversified GFA source supporting stable growth in scale Persistent M&A of high quality and boutique companies in the region adding GFA of 7.662 m ㎡ M&A focused mainly on residential properties, which accounts for 58.3% of contracted GFA Parentco completed acquisition of Redstar to lock in Red
Slide 9: Intensive development of high-value region to achieve high-quality growth
Intensive development of high-value region to achieve high-quality growth Focused on regions and cities where we are already operating; strengthening development in Beijing and Dalian, forming regional economies of scale First- and second-tier cities accounting for 91.7% of contracted GFA as ave
Slide 10: Commercial segment as new profit engine
Commercial segment as new profit engine Commercial segment comprises commercial operational services and commercial property management services Revenue from commercial operational and PM services amounted to RMB460 m for a 28% YoY growth; gross profit grew 100% YoY to RMB160 m Including prope
Slide 11: Growing high-end commercial operations scale
Growing high-end commercial operations scale From Sino-Ocean Taikoo Li / INDIGO to Citylane / Grand Canal Place, our commercial operational service has solidly established itself in the highly competitive commercial property sector 3 product lines - “Lane”, “Grand Canal Place” and “We-life” – ha
Slide 12: Full-cycle integration of property management and asset management
Full-cycle integration of property management and asset management Focused on corporate customers in office property management as we added 9 new third-party projects throughout the year Office asset management aimed at increasing asset value PM fee 15.7RMB / month / ㎡ YoY growth of rental 22% m
Slide 13: Leaping growth in community VAS
Leaping growth in community VAS Revenue from Community VAS was 788.8 m, increasing 149.5% YoY. Revenue from Community VAS YoY growth in revenue from four business segments （RMB m） （RMB m） 149.5% Property brokerage services Community asset VAS 788.8 533.0% 33.2% 205.6 326.5 256.7 32.5 245.2 316.2 2
Slide 14: Focusing on property maintenance and appreciation
Focusing on property maintenance and appreciation Property brokerage services Community asset VAS • Emphasizing our capacity as exclusive asset manager for owners • Ongoing exploration of space resources to enrich community space • Enhanced coverage of service stores Numbers of new resources increas
Slide 15: Community living services catered to owners' needs
Community living services catered to owners’ needs Retail commodity sales Home decoration services • Focusing on owners’ daily needs for grocery and services • Establishing business process with a special focus on quality 4,922 SKUs, 834 on shelf Establishing 4 major nodes and 19 mini nodes in opera
Slide 16: Vigorous exploration of community senior living services
Vigorous exploration of community senior living services As pilot community senior living services of MOHURD and Beijing Municipal Civil Affairs Bureau, we have created business platform to provide community senior living service, cooperated with Senior Living L’Amore and Clinic Haiyihui. Replicat
Slide 17: Technical expertise highlighted in VAS to non-property owners
Technical expertise highlighted in VAS to non-property owners Revenue from VAS to non-property owners was 588.3 m, including 247.8 m from property engineering services, increasing 122.0% YoY Revenue from VAS to non-property owners Revenue from property engineering services （RMB m） 247.8 42.1% 122.
Slide 18: Joint venture Yingwei Technology
Joint venture Yingwei Technology Setting up Yingwei Technology with Beijing Intelligent Building Technology to establish presence in the smart maintenance market and facilitate digitalization and intelligentization Implementation scenarios and teams Technological advantage • Comprehensive regional
Slide 19: Green philosophy underpinning sustainable development
Green philosophy underpinning sustainable development Long-term stable development of Sino-Ocean Group the Sino-Ocean Service in vigorous pursuit of sustainable parentco development Investment ratings Sustainable property management Baa3 Tower C, Ocean Office Park BOMA China Building Management BBB-
Slide 20: Financial Highlights
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Slide 21: Rapid growth in revenue
Rapid growth in revenue Revenue for 2021 amounted to RMB2,965.6 m, up 46.6% YoY; revenue from property management and commercial operational services, community VAS and VAS to non-property owners accounted for 53.6%, 26.6% and 19.8%, respectively Revenue Revenue from PM services （RMB m） （RMB m） 18
Slide 22: Significant improvement in profitability
Significant improvement in profitability Gross profit margin increased by 2.5 pts, with gross profit margin of property management and commercial operational services increasing by 5.9 pts, community VAS decreased by 22.3 pts and VAS to non-property owners increased by 2.0 pts. （RMB m） Gross profi
Slide 23: Profit attributable to owners of the company and basic earnings per share
Profit attributable to Owners of the company and basic earnings per share Profit attributable to owners of the company grew by 70.4% YoY, while core profit grew by 79.2% YoY Basic earnings per share was RMB0.37, up 27.9% YoY Profit Basic earnings per share （RMB m） （RMB） 15.1% 14.8% 0.37 12.7% 43
Slide 24: Other financial indicators
Other financial indicators Strong cash flow from operating activities, highlighted by 41% YoY growth Cash and cash equivalent was RMB 2,526.5 m, up 16.2% YoY Net cash generated from operating activities Cash and cash equivalents （RMB m） （RMB m） 509.7 2,526.5 2,175.0 361.4 41.1% 16.2% 206.6 423.4
Slide 25: Disclaimer
Disclaimer These materials have been prepared by Sino-Ocean Service Holding Limited (the “Company”) solely for informational use during its presentation to prospective and existing investors for introduction of the Company and to provide an update on the business performance and development of the C
Sino-Ocean Service Holding — FY2021 Earnings Presentation on 6ix