Yuexiu service (6626. HK) released its 2021 annual report and held a performance Conference on March 3. In 2021, the company achieved an operating revenue of 1.918 billion yuan, a year-on-year increase of 64.2%; The profit attributable to the owners of the company was about 360 million yuan, a year-on-year increase of 80.6%; After deducting listing expenses and exchange losses, the profit attributable to the owners of the company was $395 million.
In 2021, Yuexiu service signed 71 new projects, with a new contract construction area of 10.21 million square meters. The company entered Beijing, Ningbo, Nantong, Chongqing, Wuxi and other cities, schools, expressway service areas and other new business forms for the first time, promoted the establishment of several joint ventures, and promoted the undertaking and development of local projects. By the end of 2021, Yuexiu service had a total area under management of 38.87 million square meters, a contract area of 58.38 million square meters, 251 projects under management and 315 contract projects, covering 27 cities in Dawan District, East China, central China, North and southwest China.
Yuexiu service gave full play to the unique advantages of TOD property management mode. In addition to the new Guangzhou metro station and depot management project, Yuexiu service successfully won the bid for Fuzhou Metro Line 2 in early 2022. This is the first time Yuexiu service has undertaken TOD property management service project of metro lines outside Guangzhou. At the same time, Yuexiu service also established business contacts with subway companies in Chongqing, Changsha, Kunming, Nanning and Qingdao to actively promote strategic cooperation. By the end of 2021, Yuexiu service TOD had a management area of 5.65 million square meters, a contract area of 6.12 million square meters, and a new contract area of 1.14 million square meters during the year. The income from TOD property management is 238 million yuan, accounting for 12.4% of the total income.
In terms of commercial transportation management business, in 2021, the revenue of commercial property management and operation services of Yuexiu service was 493 million yuan, with a year-on-year increase of 38.2%. New office building projects such as Guangzhou Guangdong Guangzhou Daily Media Co.Ltd(002181) building, Guangzhou Skyworth Science City headquarters building and Guangzhou Yunxiang economic ecological park were added. By the end of 2021, the company had a commercial area under management of 3.27 million square meters and a contract area of 5.26 million square meters, During the year, the newly increased contract area was 1.66 million square meters. In terms of community value-added services, Yuexiu service’s community value-added service revenue increased significantly by 228.8% year-on-year to 442 million yuan in 2021.
