新城悦服务2025年度报告

ANNUAL REPORT年 度 報 告2025 CONTENTS Awards and Honors2 Corporate Profile4 Corporate Information6 Financial Summary9 Chairman’s Statement12 Management Discussion and Analysis14 Directors and Senior Management27 Report of the Directors32 Corporate Governance Report66 Independent Auditor’s Report101 Consolidated Statement of Comprehensive Income110 Consolidated Statement of Financial Position112 Consolidated Statement of Changes in Equity114 Consolidated Statement of Cash Flows115 Notes to the Consolidated Financial Statements117 AWARDS AND HONORS 202510Top 10 of 2025 China Property ManagementCompanies in Comprehensive Strength 2025TOP11Top 11 of 2025 China Top 100 Property ManagementCompanies 2025TOP9Top 9 of 2025 China Property ManagementCompanies with Service Capability 20252025 China Listed Leading Property Management Companiesin High-Quality Development 20252025 China Sample Benchmark Property ManagementCompanies in Terms of Smart Service 2025 China Top 100 Property Management Companieswith High-Quality Service Capability 20252025 China Innovative Beachmark Property ManagementCompanies (Customer Follow-up Services) 20252025 China Leading Property ManagementCompanies in Customer Satisfaction AWARDS AND HONORS 2025TOP102025 Top 10 China Property Management Companies inResidential Property Service Capability 20251002025 Top 100 China Property Management Companies inTerms of Brand Value 2025TOP102025 Top 10 China Property Management Companies inHospital Property Service Capability 2025 China Leading Property ManagementCompanies in Property & Facility Support Services 2025 China Leading Property Management Companies inCatering Service 2025 China Leading Property Management Companies inSocial Responsibility Contribution CORPORATE PROFILE 悅29201034202511APP S-Enjoy Service Group Co., Limited (the “Company” or “we”, togetherwith its subsidiaries, the “Group”) is a rapidly growing provider ofpropertymanagement services in China.We have been providingpropertymanagement services in China for more than 29 years.Accordingto China Index Academy(the“CIA”)statistics,for yearsin a row, we are among the top property services enterprises of agrowing nature in China. In addition, according to the list of top 100Chinese property management services enterprises announced by theCIA, our ranking moved up from the 34th in 2010 to 11th in 2025.We provide extensive property management services and value-addedservices for property developers as well as residents and tenants fromthe communities managed by us. We have also developed a one-stopinformationservices platform called Orange APP.Our residents andcustomerscan enjoy the services we provide through their mobiledevices.Based on our excellent ser vices and enhanced marketreputation, we have built a property management brand emphasizingquality and customers. OUR BUSINESS MODEL 202512 31 For the year ended 31 December 2025 (the “Reporting Period”), ourrevenue has been primarily derived from two business lines — propertymanagementservices and value-added services.Our value-addedservices cover two business categories comprising community-relatedvalue-added services and developer-related value-added services. CORPORATE PROFILE PROPERTY MANAGEMENT SERVICES We provide an extensive range of property management services toresidents and tenants, including property and facilities maintenance,securityservices,cleaning services,gardening services,public areasrepairand maintenance and other property management relatedservices. We manage diverse property portfolios, including residentialandnon-residential properties,from office buildings,multi-purposecomplexes and factories to parks and industrial zones. The majority ofour revenue during the Reporting Period came from providing propertymanagement services. VALUE-ADDED SERVICES O u rv a l u e - a d d e d s e r v i ce s e n co m p a s s t w o t y p e s o f s e r v i ce s:communit y- relatedvalue -added ser vices and developer- relatedvalue-added services. •Community-relatedvalue-added services:We provide value-addedservices to residents and customers,including publicresourcesmanagement ser vices,communit y engineeringservices, extensive decoration services, catering services, facilityandequipment management and various other home livingservices. •Developer-relatedvalue-added services:We provide relevantservices to developers during the property development process.We mainly provide four types of services related to propertydevelopers, namely on-site sale assistance services, consultingser vices,house inspection ser vices and smar t communityservices. CORPORATE INFORMATION 202512 31 As at 31 December 2025, the Corporate Information are as follows: BOARD OF DIRECTORS Executive Directors 20259 30* Mr. Qi Xiaoming(Chairman)Ms. Wu QianqianMr. Yang Bo(Removed on 30 September 2025*) Non-executive Directors 202510 27^202510 27^202510 27^ Mr. Wang Xiaosong(Resigned on 27 October 2025^)Mr. Lv Xiaoping(Re