Business Daily Media

SCE CM Developed Steadily in 2022 GFA Under Management Grew by 14.8% YoY

HONG KONG SAR - Media OutReach - 30 March 2023 – SCE Intelligent Commercial Management Holdings Limited ("SCE CM" or the "Company", together with its subsidiaries, the "Group", HKEX Stock Code: 606), a comprehensive property management service provider in China, is pleased to announce its audited annual results for the year ended 31st December 2022 (the "Year").



In 2022, the real estate market was affected by the tightened financing channels, in addition to the COVID-19 outbreaks, which slowed the progress of project construction and opening, impacting the Group's revenue from pre-opening management service. During the Year, the Group recorded a revenue of approximately RMB1.182 billion, with a gross profit of approximately RMB430 million and a gross margin of 36.4%. The Group's profit for the Year amounted to approximately RMB213 million. Profit attributable to owners of the parent was RMB208 million, and the basic earnings per share was RMB10.0 cents.

For the commercial property management services business, the segment revenue was RMB396 million during the Year. As of 31st December 2022, the contracted GFA of the Group's commercial property projects was approximately 5 million sq. m, while the GFA under management grew by 9.2% year-on-year to approximately 1.7 million sq. m, with the number of projects under management increasing to 17. Although COVID-19 flare-ups occurred across the PRC during the year, which affected the overall progress of construction, the resilient China SCE Group Holdings Limited ("China SCE Group") concentrated resources to ensure the speedy completion SCE Funworlds. In December 2022, the Gaomi SCE Funworld located in Shangdong Province opened for business, which was the Group's first shopping mall under management in the Bohai Rim Economic Zone. The occupancy rate was over 92% and the number of visitors exceeded 150,000 on the opening day.

For the residential property management services business, the Group strived to develop diversified value-added services during the Year, launching and improving in succession various service models and further extending the service scope, including car park sales services, exquisite residence services and residential property agency services. At the same time, the Group further enhanced the management scale by leveraging its capital advantages, the strength of its brand and service management capabilities, maintaining a steady development of its residential property management services business, the segment revenue of which amounted to approximately RMB786.6 million during the Year, representing an increase of 17.9% year-on-year. As of 31st December 2022, the Group's contracted GFA and the GFA under management of residential property projects increased by 6.7% and 15.2% to 43.2 million sq. m and 24 million sq. m, respectively. The number of projects under management increased by 21 year-on-year to 149.

As the Chinese government modified its response to COVID-19 outbreaks, the economy is set to gradually recover. China SCE Group and other real estate developers are expected to speed up the construction progress of all projects. The Group is anticipated to regain its previous pace and expand its management scale at an accelerated rate. In 2023, Beijing West Chang'an SCE Funworld, China SCE Group's first outlet-style shopping mall, commenced operation in March, while the construction of three other SCE Funworlds is proceeding at a quickened pace, to be completed during the year.

Mr. Wong Lun, Chairman of SCE CM, said, "Looking ahead, the Group will continue to develop based on the principle of increasing income and reducing costs. On the one hand, it will expand more value-added services with higher profit margin and further develop the third-party management services to replicate SCE CM's high-quality management model. On the other hand, the Group will extend digitalized applications and optimize its human resources organization, in order to further enhance the Group's competitiveness in the market. At the same time, the Group will identify potential targets among industries and expand the scale of its property management portfolio, thereby magnifying the brand effect of 'SCE CM'."
Hashtag: #SCECM

The issuer is solely responsible for the content of this announcement.

About SCE Intelligent Commercial Management Holdings Limited (HKEX Stock Code:606)

Established in 2003, SCE Intelligent Commercial Management Holdings Limited is a comprehensive property management service provider that mainly engages in commercial property management and operation services as well as residential property management services. The regions it serve include the West Taiwan Strait Economic Zone, Yangtze River Delta Economic Zone, the Bohai Rim Economic Zone, the Guangdong-Hong Kong-Macao Greater Bay Area, and the Central Western Region. As of 31st December 2022, SCE CM had a large contracted property management portfolio encompassing 62 cities across 19 provinces, municipalities and autonomous regions in China. In 2022, the Group was awarded the "2022 China Top 100 Commercial Real Estate Developers" and "2022 Top 100 Property Management Companies in China", respectively, by China Index Academy.

For more information, please visit SCE CM's website:

News from Asia

Arrow Electronics Brings Engineering and Supply Chain Capabilities for a Broader Ecosystem across GBA

SHENZHEN, CHINA - Media OutReach Newswire – 12 November 2024 - With the theme of "Shaping a smarter and greener tomorrow," global technology solutions provider Arrow Electronics organized its ann...

CamScanner takes ESG to the next level ahead of 2025 with sustainable education and community support

Company’s innovative digital tools demonstrate its commitment to saving paper, supporting higher-education and strengthening communities NEW YORK, US - Media OutReach Newswire – 12 November 2024 -...

Immuno Cure Biotech Presents Promising Results on Phase I Clinical Trial of a Therapeutic HIV DNA Vaccine

Encouraging findings with immunotherapy aiming at ART-free virological control A significant step towards functional cure of HIV infection HONG KONG SAR - Media OutReach Newswire – 12 November 202...

The Happi Loft Hosts Christmas Charity Celebration to Spread Holiday Cheer to Underprivileged Children

Partnering with Local Shelters, The Happi Loft Brings Festive Cheer with Personalised Gifts, Holiday Crafts, and Cookie Decorating Activities SINGAPORE - Media OutReach Newswire - 12 Novem...

VinFast secures funding from Vingroup and Pham Nhat Vuong to build financial reserves and accelerate growth

HANOI, VIETNAM - Media OutReach Newswire - 12 November 2024 - On 12 November 2024, Vingroup, Vietnam's largest private conglomerate, and its Chairman, Mr. Pham Nhat Vuong, announced a significant ...

Fostering Indigenous Language-Friendly Environments! United for the Preservation of Austronesian Languages in Kaohsiung City, Taiwan

TAIPEI, TAIWAN - Media OutReach Newswire – 12 November 2024 - The 2024 Austronesian Languages Revitalization Forum, organized by Taiwan's Indigenous Languages Research and Development Foundation (...

Wrapped Litecoin ($WLTC) Unlocks DeFi for Litecoin ($LTC) Holders

SINGAPORE - Media OutReach Newswire - 12 November 2024 - Leading digital asset exchange, Coinut, is proud to announce the launch of Wrapped Litecoin ($WLTC) today, November 12. This groundbreaking...

Defining the benchmark for global design – ‘SaloneSatellite Permanent Collection 1998-2024’ Exhibition debuts in Hong Kong

Providing a snapshot of the SaloneSatellite Collection and showcasing the talents of emerging international designers at the West Kowloon Cultural District until 21 November HONG KONG SAR - Media ...

【Power Up Sustainable Fashion Business】 Asia’s grand event Fashion Summit (Hong Kong) returns from 26-28 November

3 Classic Hong Kong-themed Fashion Shows to revisit old Housing Estates, Kai Tak Airport and Kowloon Walled City The First "Fashion Summit Lifestyle Pop-up Shop" staged in 5 exhib...

FlexSystem Achieves ISO 27001 Certification Confirming Robust Information Security Management

HONG KONG SAR - Media OutReach Newswire – 13 November 2024 - Leading enterprise software provider, FlexSystem Limited ("FlexSystem"), has been awarded ISO 27001 certification for its information ...

The Importance Of Professional Cleaners

Moving out of a settlement property can be a stressful and time-consuming process. One of the most crucial steps is bond cleaning, also known as e...

Property

3 Ways To Manage A Job Where There’s More Work Than You Can Handle

While having a job that you love is one of the greatest blessings in your life, having a job that you love but can’t seem to keep up with can caus...

Business Training

The Fast Track to Home Selling: A Comprehensive Guide to Quick Sales

The pace of the real estate market varies widely based on several factors, including location, property value, and current economic climates. For ma...

Property

Why It’s Important For Businesses To Take Action Against Tech Overload Now

Nearly 80 percent of people are suffering from information overload, a number that is increasing rapidly, and business leaders need to tackle the ...

Business Training

Property peak urges re-elected Government to renew focus on real estate sector

The Real Estate Institute of Victoria (REIV) welcomed the Andrews Government’s Cabinet announcement today, congratulating The Hon. Danny Pearson M...

Property

How To Use a VA Loan for an Investment Property

Okay, we are going to have to play a little fast and loose with the word “Investment” here because a VA loan shouldn't be used as a way to create mo...

Property