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On August 30, 2022, Times Neighborhood Holdings Limited (stock code: 9928.HK, "Times Neighborhood" or the "Group") held a press conference to announce its 2022 interim results. During the Reporting Period, the Group's recorded a revenue of RMB 1.31 billion, increasing by 12.9% YoY.

In the cycle of industry adjustment and transformation, Times Neighborhood unremittingly stays confident, faithful and persistent while paying more attention to operation quality and high-quality development. By actively grasping opportunities from policies, the Group develops its advantageous businesses with long-term value. Only by unwaveringly focusing on and implementing its determined strategies can the Group achieve ongoing and steady progress in the face of an uncertain future.

▲Online Results Announcement of Times Neighborhood (Guangzhou)

Mr. Bai Xihong, Chairman of the Board of Directors of Times Neighborhood (center); Ms. Wang Meng, Executive Director and CEO (second from right); Mr. Zheng Nanshu, vice president of Times Neighborhood and general manager of Urban Development Center (first from right); Mr. Ding Zhigang, vice president of Times Neighborhood and general manager of Commercial Operation Center (first from left); Ms. Zhou Rui, Executive Director and general manager of Financial Management Center (second from left)

Property management services and value-added community services, the two core segments of Times Neighborhood, drove the growth and contributed to 69.8% and 15.3% of the total revenue of the Group respectively.

Specifically, during the Reporting Period, the revenue from property management services recorded RMB 915 million, increasing by 25.3% YoY and maintaining a steady growth, while the revenue from value-added community services reached RMB 201 million, increasing by 12.7% YoY. The revenue from renovation services, community group buying services and resident services achieved different degrees of increase.

The Group continued to utilize the advantage of its service and products based on the platform of "Technology + Service" and to engage in competition with the focus on the sectors of the "property business group" and the "resident business group", so as to promote mutual drainage between these business segments and enhance customer stickiness to the platform. In addition, the Group's platform has been equipped with professional services, improved supply chain and provided differentiated products, so that a virtuous cycle between the segments of the "field, housing and resident" business groups has been connected to meet customers' needs in the full life cycle.

Times Neighborhood expanded its business territory with more proactive efforts and continuously optimized its regional and business structure. During the Reporting Period, the contracted area of property management reached 132 million square meters and the area under management was 108 million square meters.

Rooting in the Guangdong-Hong Kong-Macao Greater Bay Area for nearly 20 years, the Group has achieved market expansion in other cities and continuous intensify management in the core regions by taking advantage of its successful experience in project management and excellent market reputation. As a result, the contributions of the Group's projects in the four core urban agglomerations: the Greater Bay Area, the Yangtze River Delta, the Chengdu-Chongqing region and Central China to the Group's total contracted area increased to 81% at the end of the Reporting Period.

In recent years, the Group has made continued efforts to improve its ability of independent expansion, as the proportion of third parties engaged in its property management projects continues to rise. As of June 30, 2022, the contracted area with third-party engagement reached 96 million square meters, accounting for 73% of the total contracted area, which maintained a relatively high proportion.

With the focus on the three core business segments: residential properties, industrial parks and public buildings, Times Neighborhood continued to make "intensified, in-depth and extensive" efforts in its advantageous fields and integrated the brand resources of these business segments to achieve coordinated development. In the first half of the year, the contracted area of the three core business segments was 114 million square meters, accounting for 86% of the total contracted area.

▲High-quality Demonstration Residential Projects for Business Expansion

▲High-quality Demonstration Industrial Park Projects for Business Expansion

▲ High-quality Demonstration Public Building Projects for Business Expansion

The Group continued to make intensified efforts in the residential properties and to improve the quality of business expansion, so as to achieve the revenue growth and enable extensive development room for value-added services. It continued to make in-depth efforts in the industrial parks, reached in-depth cooperation with a number of well-known logistics companies and integrated resources to consolidate the foundation for subsequent business expansion; and it continued to make extensive efforts in the public buildings, aligned itself with the needs of governments for public management, conducted differentiated operations and developed itself as a regional leading company based on its platform.

From "Service" to "Create Service", the original aspiration of Times Neighborhood in providing services remains unchanged. By continuously improving service quality and demonstrating brand value with quality, the Group has been recognized by property owners and the market.

The upgrading of the Initial Plan 2.0 was conducted this year under the 4° Service Aesthetics and Service System. The four major actions were "Initial Aspiration, Beautification, Renovation, and Safety". A series of in-depth programs were carried out in multiple aspects, such as service, environment, construction projects and safety. Moreover, based on the previous achievements in quality development, multiple measures, including continuous investment in facility and equipment upgrading, community living environment improvement and the facilitation of the renovation and upgrading of old communities, were taken with more than 30 annual benchmark projects launched to guide service innovation to a whole new level.

Meanwhile, for service brand development, a number of characteristic service brands/IP, including the "Welfare Creation Festival", the "Happy Life Festival", the "Neighborhood Super Service Day", the "Neighborhood Carbon Reduction Officers" and the "Neighborhood Dessert Soup Shop", has been established, which not only provides concrete support for the Group's brand image and capability of business expansion, but also facilitates the improvement in the image of and the customer satisfaction regarding the Group's property service.

For community cultural development, over 1,000 various kinds of community events were held to vitalize the daily lives of property owners, the operation of the "Great She" community groups for female property owners was improved by optimizing user experience, and the repositioning of community butlers was conducted to improve the satisfaction of property owners from their services.

For community co-development, co-governance and sharing, the Group used multiple forms of innovative publicity, including the planning of thematic publicity serial videos and the promotion of a series of community conventions, to improve property owners' knowledge of community management, such as the knowledge of fire safety, garbage classification, and pet keeping etiquettes. In doing so, the Group joined hands with property owners to create a better life.

The Group's outlook on the future is based on the present. Times Neighborhood actively responded to situational changes and adhered to long-termism and the "4321" strategy. Based on the "four focuses", the Group optimized project quality and business structure: with the regional focus, the Group conducted high-quality scale expansion; with the customer focus, the Group conducted high-quality customer development; with the business focus, the Group conducted high-quality business operation; and with focus on highlighted matters, the Group sought high-quality profit and stable cash flow.

Meanwhile, the Group continued to concentrate on customer service, promoted ESG and green operation and undertook the corporate responsibilities, so as to strive for a high-quality growth and guarantee the future development.

▲Mr. Bai Xihong, Chairman the Board of Times Neighborhood, Shared His Vision for the Future

Mr. Bai Xihong, Chairman of the Board of Times Neighborhood, proposed that: in a constantly changing era, industry was facing multiple challenges from the market in the first half of the year. Times Neighborhood strove to forge ahead under pressure, unremittingly focused on its core businesses, regions and customer groups, and achieved steady development. In the future, the Group will continue to courageously confront the cyclical changes of the industry and actively conduct self-transformation. By enhancing the development of the Group's capability of independent business expansion, providing in-depth and thorough value-added community services, continuously consolidating the foundations for service, and improving the service ability, the Group aims to fortify its standpoint for long-term development, reward property owners, its shareholders, employees and partners, and other sectors of society with better performance, and offer more people a better life.