华润万象生活2025年度中期报告

002公司資料Corporate Information004集團架構Group Structure005主席報告Chairman’s Statement013管理層分析與討論Management Discussion and Analysis041其他資料Other Information072致董事會之審閱報告Review Report to the Board of Directors074綜合損益及其他全面收益表Consolidated Statement of Profit or Loss and OtherComprehensive Income075綜合財務狀況表Consolidated Statement of Financial Position077綜合權益變動表Consolidated Statement of Changes in Equity078簡明綜合現金流量表Condensed Consolidated Cash Flow Statement079中期財務報告附註Notes to the Interim Financial Report121釋義Definition 公司魖倣CORPORATE INFORMATION 董事會 BOARD OF DIRECTORS Non-executive Directors Mr. LI Xin(Chairman)Mr. GUO ShiqingMr. GUO Ruifeng(Appointed with effect from 30 June 2025) Executive Directors Mr. YU Linkang(President)Mr. WANG Haimin(Vice President)Mr. WANG Lei(Vice President)Mr. NIE Zhizhang(Vice President and Chief Financial Officer) Independent non-executive Directors Mr. LAU Ping Cheung KaizerMr. CHEUNG Kwok ChingMr. CHAN Chung Yee AlanMs. LO Wing Sze 審核委員會 AUDIT COMMITTEE Mr. CHAN Chung Yee Alan(Chairman)Mr. CHEUNG Kwok ChingMs. LO Wing SzeMr. GUO Shiqing 提名委員會 NOMINATION COMMITTEE Mr. LI Xin(Chairman)Mr. LAU Ping Cheung KaizerMs. LO Wing Sze 薪酬委員會 REMUNERATION COMMITTEE Mr. LAU Ping Cheung Kaizer(Chairman)Mr. CHEUNG Kwok ChingMr. CHAN Chung Yee AlanMr. LI Xin 可持續發展委員會 SUSTAINABILITY COMMITTEE Mr. LI Xin(Chairman)Mr. YU LinkangMr. CHEUNG Kwok ChingMs. LO Wing Sze 公司秘書 COMPANY SECRETARY Dr. NGAI Wai Fung 授權代表 AUTHORIZED REPRESENTATIVES Mr. LI XinMr. YU Linkang 註冊辦事處 REGISTERED OFFICE PO Box 309, Ugland House,Grand Cayman, KY1-1104,Cayman Islands PO Box 309, Ugland House,Grand Cayman, KY1-1104,Cayman Islands 總部及中國主要營業地點 HEADQUARTERS AND PRINCIPAL PLACEOF BUSINESS IN THE PRC 9668B30 30/F., China Resources Land Building, Tower BNo. 9668 Shennan Avenue, Nanshan DistrictShenzhenPRC 香港主要營業地點 PRINCIPAL PLACE OF BUSINESS INHONG KONG 2646 46/F., China Resources Building26 Harbour RoadWanchaiHong Kong 股份過戶登記處 SHARE REGISTRAR 1617 Tricor Investor Services Limited17/F, Far East Finance Centre,16 Harcourt Road,Hong Kong 主要往來銀行 PRINCIPAL BANKERS China Resources Bank of Zhuhai Co., Ltd.China Merchants Bank Co., Ltd. 獨立核數師 INDEPENDENT AUDITOR KPMGCertified Public AccountantPublic Interest Entity Auditor registered in accordance withthe Accounting and Financial Reporting CouncilOrdinance8/F, Prince’s Building, 10 Chater Road, Central, Hong Kong 108 公司法律顧問 LEGAL ADVISORS TO THE COMPANY Clifford Chance 網址www.crmixclifestyle.com.cn WEBSITE www.crmixclifestyle.com.cn 股份代號1209 STOCK CODE 1209 겐㏬厜圸GROUP STRUCTURE ╭䊛㖦⼴CHAIRMAN’S STATEMENT Iam pleased to present to Shareholders the businessreview and outlook of the Group for the six months ended30 June 2025. In the first half of 2025, China’s economy remained resilientandstable,with steady progress made in economictransformationand high-quality development.Policiestoexpand domestic demand and promote consumptiondrove a rebound in the growth of the consumer market,withconsumption expenditure becoming the core driverofeconomic growth.The structure of demand showedsignificantdifferentiation,with high-end consumptionfacingtemporary pressure,the service consumptionincreasingin proportion,and technology-driven newconsumptionmodels accelerating their penetration.Thisreflectedconsumers’growing pursuit of both value andexperience.Meanwhile,as competition among shoppingmallsintensified,leading operators are innovating andadapting,and new consumption models are emergingwithnotable highlights.The property managementindustry has shifted in growth rate, but it still possessesvast development potential. In the intense competition ofexisting projects, the importance of “high-quality service”hasbeen highlighted.Leading property managementcompanieswere firmly committed to strengthening theirfoundations through service, improving efficiency throughlean management, and expanding their boundaries throughcapability enhancement. They accelerated transformationandenhanced development resilience by internallyrestructuring their advantages in competition on existingprojects and externally exploring the diverse value of newgrowth opportunities. +85.246.5%20.1115.0%0.52989.6%2460%0.352 Inthe first half of the year,the Group adhered to“reform-driven development,” adopted “stable growth” asthe overall operating orientation, upheld the core operatingstrategyof“organic growth+extensional growth,”andrespondedto internal and external uncertainties withthecertainty of high-quality development,achievingindustry-leadingperformance.During the Period,theGroup achieved consolidated revenue of RMB8.524 billion,representing a YoY increase of 6.5%, and core net profit ofRMB2.011 billion, representing a YoY increase of 15.0%,withall core performance indicators recording steadygrowth. The Board resolved to declare an interim dividendofRMB0.529 per Share,representing a YoY increaseof89.6%and an increase of 24 percentage points ofan interim dividend payout ratio to 60%,