Dow Jones received a payment from EQS/DGAP to publish this press release.
EQS-News / 28/03/2019 / 17:42 UTC+8
Press Release 28 March 2019
*Financial and operation highlights:*
*- Outstanding results accomplished with strong financial position*
*- *Revenue rose by 121.9% year on year to RMB 3,613.7 million; profit
attributable to owners of the Company grew to RMB 485.0 million,
representing a year on year growth rate of 51.3% respectively, and the net
cash flow from operating activities reached RMB 525.9 million.
- As at 31 December 2018, bank balance and cash remained abundant at RMB
2,666.9 million. Net gearing ratio was reasonably controlled at 19.1% and
the overall financial condition was stable.
- The Board proposed the payment of a final dividend of HK 18 cents per
share, representing about 42.2% dividend payout ratio, for the year ended 31
December 2018.
- *Driving growth from user scale and active rate with strategic progress
achieved in ecosystem construction*
*- *As at 31 December 2018, the number of registered users in ecosystem
exceeded 26.4 million, including 14.0 million active users, representing an
active rate of 53.0%.
- The gross merchandise value("GMV") of the platform increased by 24.1% to
RMB 9,448.0 million, and the accumulated sales of products of "Colour Life
Parking Lots" amounted to 4,150 sets, jointly driving the revenue from
value-added services increased to RMB 408.4 million with a year on year
growth rate of 47.5%. The gross profit of it represented an increase of
72.3% compared to the last year, gross profit margin stay at a high of 95.7%
as well. The profit quality improved significantly. The contribution to
profit was RMB 309.2 million with a year on year growth rate of 41.9%,
accounting for 33.6%, maintaining a good profit structure.
- As at 31 December 2018, the ecosystem strategic product called 'Colour
Benefit Life' have launched for 9 months, created a transaction amount
of RMB 70.9 million through 1,824.6 thousand orders, and returned a total
number of RMB 36.2 million property management fees for 260,000 families.
- *Gratifying results in the scale expansion with the platform output
strategy steadily advanced*
*- *Consolidated the "Wanxiangmei" smoothly and achieve organic growth in
high speed through the newly engagement. The newly engaged management area
reached 74.3 million sq.m in 2018.
- As at 31 December 2018, the Group extended its total contracted GFA
coverage to 268 cities in China, provided services to 2,709 communities with
an aggregate contracted GFA of approximately 553.7 mm sq.m, achieved rapid
expansion of the management scale.
- As at 31 December 2018, the Group has cooperated with 95 property
management enterprises under the guidance of the platform output strategy,
and the area covered by the cooperation and alliance reached 568.6 million
square meters with amassing a total platform services area of 1,122.3 mm
sq.m, further consolidating and tapping the user scale advantage.
(Hong Kong, 28March 2019) Colour Life Services Group Co., Limited ("Colour
Life" or the "Company", which together with its subsidiaries, is referred to
as the "Group", HKEx stock code: 1778), the world's largest community
services platform, was pleased to announce its audited annual result(the
"Period").
*Driving growth from user scale and active rate with sustained and rapid
development in value-added services*
As at 31 December 2018, benefiting from the expansion of light application
ports such as WeChat, the number of registered users in ecosystem exceeded
26.4 million, including 14.0 million active users, representing an active
rate of 53.0%. The gross merchandise value ("GMV") of the platform increased
by 24.1% to RMB 9,448.0 million, driving the revenue from value-added
services increased to RMB 408.4 million with a year on year growth rate of
47.5%. At the same time, the gross profit of value-added services grew with
a high speed of 72.3%, and the gross profit margin of it represented an
increase of 13.7 percentage points to a high of 95.7%. Earning quality
maintains a leading position in the industry.
There are three core products driving the development of the Group's
value-added services, namely, "Colour Benefit Life(????)", "Colour Wealth
Life(????)" and "Colour Life Parking Lots (?????)". In the first half of
2018, the platform of "Colour Benefit Life(????)" was launched, achieving
multi-win for households, suppliers and the Group, which transformed owner's
"payment" into owner's "consumption", and creatively realized the
improvement and upgrade of the payment relationship between property and
owner.
As at 31 December 2018 for nine months, 260 thousand families have traded on
the platform of "Colour Benefit Life(????)", which created a transaction
amount of RMB 70.9 million through 1,824.6 thousand orders, and returned a
total number of RMB 36.2 million property management fees.
The cumulative transaction amount of the "Color Wealth Life" value-added
plan reached approximately RMB 1,770.1 million in 2018, and the average
investment duration increased from 0.47 year to 0.87 year, with revenue
contribution reaching 38.4 million; while "Colour Life Parking Lots" sold
4,150 sets during the year of 2018, driving the revenue of sales and rental
assistance increased by 175.2% to 146.6 million.
On the other hand, the Group insists on constructing an open ecosystem. By
the end of 2018, it has attracted more than 40 ecosystem companies to
participate in community service and jointly explore value-added business
development based on diverse community scenarios. Among them, e-Lift built
the SaaS (Software-as-a-Service) platform covering the whole life cycle of
lifts, the number of lifts on e-Lift platform has exceeded 160 thousand
units, including over 140 thousand lifts in communities not managed by the
Group. Based on its transformation towards platform-based and
digitalization, e-Lift cooperated with 9 major insurance companies, jointly
introduced insurance products on lift safety services and established the
new model of "insurance + operation + services" in the lift industry.
Meanwhile, the Group steadily promoted the order-based strategy, with
E-Security, E-Repair (including e-Lift), E-Energy, E-Cleaning, E-Gardening,
E-Payment and E-Complaint, these seven service sectors gradually landed to
realize the platform of basic property management functions, and further
enhanced the service efficiency of the Group.
*Gratifying results in the scale expansion with the platform output strategy
steadily advanced*
In 2018, the Group successfully merged Wanxiangmei Property Management Co.,
Ltd. (hereinafter referred to as "Wanxiangmei", formerly known as Wanda
Property Management Co., Ltd.). The Group can not only expanded the area
under management, but also further enriched the portfolio of management
projects. Besides the aforementioned merger and acquisition measures, the
Group also focused on driving its organic growth through reputation and
branding. The newly engaged management area reached 74.3 million sq.m in
2018. During the reporting period, with the outstanding property management
experience, the Group established a joint venture with Beijing
Indemnificatory Apartment Construction Investment Center (??????????????) to
undertake the new public rental housing/affordable housing projects in
Beijing in future.
As at 31 December 2018, the Group extended its total contracted GFA coverage
to 268 cities in China, provided services to 2,709 communities with an
aggregate contracted GFA of approximately 553.7 mm sq.m, achieved rapid
expansion of the management scale.
Different from the "high leverage, heavy assets" merger and acquisition
expansion model in this industry, the Group actively promoted the platform
output strategy with light assets as the main point, the Group's online
platform could serve more communities and families not managed by Colour
Life and provide a broader space for the growth of the Group's users. During
the reporting period, the Group entered into cooperation with Shaanxi
Wanyuan Property Management Group Co., Ltd. (??????????????) and Changsha
Public Security Bureau(??????) , and granted them the right to use the
online platform Caizhiyun.
As at 31 December 2018, the Group has cooperated with 95 enterprises under
the guidance of the platform output strategy, and the area covered by the
cooperation and alliance reached 568.6 million square meters with total
platform services area of 1,122.3 mm sq.m. The platform service capability
has been recognized by the market, and the user scale advantage has been
further consolidated.
*OUTLOOK*
Mr. Pan Jun, Director of Colour life, said: In 2019, the Group will
optimize and propel the "Colour Benefits Life" platform comprehensively and
strive to achieve the gradual replacement of "consumption" by "payment" ,so
that brand new living experience in the community will be eventually
achieved. At the same time, the Group will introduce "Colour Benefit
Partners" module within the community, achieve the continuous "fission" of
management fee "payment" through the community user relationship chain.
Finally, it will empower new retail opportunities in the community. Besides
that, the Group will continue to improve its property management efficiency
through the "Big Dipper" Strategy, and facilitate management fee increase of
certain projects. In 2019, we will keep our mind open, surpass boundaries,
display more advantages and innovate the future to serve the community
together and create more value for them.
_-End-_
Document: http://n.eqs.com/c/fncls.ssp?u=NPVIRSHSJS [1]
Document title: Growth from users' scale and the active rate of platform
Colour Life achieved an outstanding performance in value-added services
28/03/2019 Dissemination of a Financial Press Release, transmitted by EQS
Group.
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March 28, 2019 05:42 ET (09:42 GMT)
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