Sunac Services : Announcements and Notices - ANNUAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 DECEMBER 2020

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SUNAC SERVICES HOLDINGS LIMITED ፄ௴؂ਕછٰϞࠢʮ̡

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 01516)

ANNUAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 DECEMBER 2020

RESULTS HIGHLIGHTS

For the year ended 31 December 2020:

• • The revenue of the Group was approximately RMB4,623 million, representing a growth rate of approximately 63.5% as compared to last year; the gross profit was approximately RMB1,275 million, representing a growth rate of approximately 77.0% as compared to last year; and the gross profit margin was approximately 27.6%, representing an increase of approximately 2.1 percent as compared to last year;

• • The Group's revenue from property management services was approximately RMB2,774 million, representing a growth rate of approximately 141.6% as compared to last year, which accounted for approximately 60.0% of the total revenue, representing an increase of approximately 19.4 percent as compared to last year; the gross profit was approximately RMB599 million, representing a growth rate of approximately 340.8% as compared to last year, which accounted for approximately 47.0% of the total gross profit, representing an increase of approximately 28.1 percent as compared to last year; and the gross profit margin was approximately 21.6%, representing an increase of approximately 9.8 percent as compared to last year;

• • The profit of the Group for the year was approximately RMB626 million, representing a growth rate of approximately 131.8% as compared to last year, among which, the profit attributable to the owners of the Company was approximately RMB601 million, representing a growth rate of approximately 122.6% as compared to last year; and after excluding the effect of the one- off listing expenses, the profit attributable to the owners of the Company was approximately RMB620 million, representing a growth rate of approximately 129.8% as compared to last year;

• • Basic earnings per share attributable to the owners of the Company were approximately RMB0.25, representing a growth rate of approximately 108.3% as compared to last year;

• • The Board proposed to declare a final dividend of RMB5.8 cents per share for the year ended 31 December 2020.

Unless otherwise defined herein, capitalized terms used in this announcement shall have the same meanings as those defined in the prospectus of the Company dated 9 November 2020 (the "Prospectus").

The board (the "Board") of directors (the "Directors") of Sunac Services Holdings Limited (the "Company") is pleased to announce the audited consolidated results of the Company and its subsidiaries (together, the "Group") for the year ended 31 December 2020 with comparative figures for the year ended 31 December 2019, as follows:

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

For the year ended 31 December 2020

Year ended 31 December

Note

2020 2019

RMB' 000 RMB' 000

Revenue	4	4,622,509	2,827,374
Cost of sales	5	(3,347,367)	(2,107,080)
Gross profit	1,275,142	720,294
Administrative expenses	5	(496,013)	(383,128)
Selling and marketing expenses	5	(28,772)	(18,669)
Net impairment losses on financial assets	5	(14,954)	(2,759)
Other income and expenses	56,770	36,604
Other gains/(losses) - net	11,018	4,159
Operating profit	803,191	356,501
Finance income	12,566	1,365
Finance costs	(2,096)	(13,228)
Finance income/(costs) - net	10,470	(11,863)
Share of post-tax profits of associates
and joint ventures accounted for
using the equity method, net	8,572	1,289
Profit before income tax	822,233	345,927
Income tax expense	6	(196,539)	(76,029)
Profit for the year	625,694	269,898

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (CONTINUED)

For the year ended 31 December 2020

Other comprehensive incomeYear ended 31 December

Note

2020 2019

RMB' 000 RMB' 000

for the year	-	-
Total comprehensive income for the year	625,694	269,898
Total comprehensive income
attributable to
- Owners of the Company	600,862	269,898
- Non-controlling interests	24,832	-
625,694	269,898
Earnings per share (expressed in
RMB per share)
- Basic and diluted earnings per share	7	0.25	0.12

CONSOLIDATED STATEMENT OF FINANCIAL POSITION As at 31 December 2020

As at 31 December

Note

2020 2019

RMB' 000 RMB' 000

ASSETS Non-current assets

Property, plant and equipment	58,907	28,981
Right-of-use assets	45,163	35,763
Intangible assets	9	1,317,838	63,230
Deferred tax assets	36,400	21,698
Investments accounted for
using the equity method	58,262	2,672
Financial assets at fair value through
profit or loss	390,500	-
Other receivables	10	32,682	-
Prepayments	9,369	570
1,949,121	152,914
Current assets
Inventories	40,919	82,336
Trade and other receivables	10	1,351,435	927,243
Prepayments	36,542	18,456
Cash and cash equivalents	9,368,495	1,090,197
Restricted cash	9,958	-
Financial assets at fair value through
profit or loss	200,829	-
11,008,178	2,118,232
Total assets	12,957,299	2,271,146