Chinanews.com, Finance and Economics, Sept. 2: recentlyFangyuan living serviceGroup Co., Ltd. (referred to as: Fangyuan living Services, 9978.HK) issued an interim results announcement for 2021, showing that during the period, the total income of the group was about 264 million yuan, an increase of about 105.1% over the same period last year.CorrespondenceGross profit53.906 million yuan, an increase of 1.93% over the same period last year; gross profit margin 20.39%, an increase of 6.09% over the same period last yearNet profit152 million yuan, an increase of 4.8 times over the same period last year.interest rate5.74%The profit attributable to the owners of the company is about 11.1 million yuan, an increase of 3.11 times over the same period last year.
The report shows that in the six months to June 30, 2021, the group's total income from real estate agency services was about 136 million yuan, an increase of 5.2 per cent over the same period in 2020. In addition, the revenue from property management services, value-added services and community value-added services is about $85.5 million, $19.6 million and $23.6 million respectively.
Compared with 2.0 per cent for the six months ended June 30, 2020, the net profit margin for the six months ended June 30, 2021 rose to 5.7 per cent. The increase is mainly due to the expansion of business in the current period, the improvement of efficiency, and the increase in income is greater than that of the corresponding expenses.
The acquisition of Modern Life leads to a big increase in revenue and net profit.
It is worth noting that the report mentioned the group's related party transactions during the period to acquire Modern Life for 68 million yuan and consolidate its revenue. Since the acquisition of Modern Life of Fangyuan, the enterprises acquired have contributed income of approximately RMB 128738000 and profit of approximately RMB 7867000 to the Group's comprehensive profit for the six months ended June 30, 2021.
If the acquisition of Modern Life takes place on January 1, 2021, the income and profit of the Group during the period will be approximately RMB285272000 and RMB16305000 respectively.
In addition, the Group realized a profit before income tax of about 17.8 million yuan during the current period, compared with about 3.5 million yuan in the same period last year.
As of June 30, 2020, the group's net current assets were about 153 million yuan.AssetsIt's about 398 million yuan. The bank balance and cash of the Group is about $97.1 million.