ONEWO has connected the "last 100 meters" for food delivery drivers

Author | Zhou Zhiyu

Editor | Zhang Xiaoling

On August 23, at the entrance of a residential area in Wuhan Optics Valley, a Meituan delivery rider scanned the property mini-program code, completed the registration and verification process in just a few seconds, and then entered the community to deliver meals.

This is the "Rider Passage Solution" jointly released by ONEWO and Meituan, aiming to solve the last mile delivery challenge for food delivery. Zhang Ruoyu, general manager of Meituan Delivery, stated that the two technology teams launched this cooperation in less than a month, and it is expected to be implemented in over 3,000 Vanke-managed communities nationwide by the end of the month.

In Shenzhen, thousands of miles away, Zhu Baoquan, Chairman of ONEWO, also used this case as an example at the mid-term performance meeting to explain how ONEWO achieves data interconnection among technology companies while ensuring data security through such collaborations. The purpose is to leverage technology to improve the efficiency of property services and customer satisfaction.

As residential properties enter the stock market, improving property service capabilities to enhance competitiveness is one of the directions.

The interim report shows that ONEWO's non-developer main business revenue in the first half of the year, including residential property services, property and facility management services, and BPaaS solutions, reached 14.9 billion yuan, a year-on-year increase of 16.7%. In specific business areas, revenue growth has all achieved double digits.

The early layout and implementation of the strategies for "Butterfly City", diversified customers, and technology are the main reasons why ONEWO can achieve decent growth in its main business despite the industry being in a downturn.

However, ONEWO has not been able to escape the impact of the downturn in the residential development market. In terms of developer-related businesses during the reporting period, the revenue from value-added services to developers was 920 million yuan, a year-on-year decrease of 33.8%.

ONEWO continues to enhance its independence to minimize these impacts. In the first half of the year, the proportion of related party transactions between ONEWO and its parent company as a percentage of total revenue decreased from 19.2% at the end of 2021 to 10.1% in the first half of this year. Going forward, ONEWO will further reduce related party transactions and make up for the decline in developer-related businesses through better development of non-developer main businesses to ultimately maintain positive revenue growth.

Excluding all developer-related businesses, ONEWO's revenue in the first half of the year was 15.36 billion yuan, a year-on-year increase of 16.2%; gross profit was able to increase by 12.8% year-on-year, reaching 2 billion yuan.

Zhu Baoquan couldn't help but sigh that even though operations were not smooth sailing, the continuous investment in customer service quality remains unchanged. Moving forward, ONEWO will continue to gain customer recognition through continuous on-site investment, maintaining a high willingness to pay from customers in today's complex economic environment.

The aforementioned cooperation with Meituan is a specific manifestation of ONEWO's efforts to enhance its capabilities. He Shuhua, Chief Marketing Officer of ONEWO, pointed out that for property enterprises, it is particularly important to reduce the cost of property services through technological methods, management models, and process adjustments to fundamentally enhance their competitiveness.

The "Butterfly City" strategy is a concrete manifestation of ONEWO's efficiency improvement. In the first half of this year, ONEWO managed 642 Butterfly Cities, and based on this, through non-property management revenue and profits, mainly from brokerage, leasing, decoration, and maintenance capabilities accumulated over many years in ONEWO's history, it continuously improves residential property services, leading to an increase in revenue and gross profit levels in the residential property sector In the view of ONEWO's management, ONEWO has found the key to improving supply chain efficiency through Butterfly City, allowing the gross profit margin to stabilize and rise.

With the transformation of supply and demand in the Chinese real estate market, maintaining and updating existing housing has become a policy encouragement direction. This has also become a key focus for Vanke Property in the first half of this year.

At the performance meeting, Zhu Baoquan also cited the example of the Nanjing Binjiang Aocheng Guanlanyuan project, pointing out that in the era of existing housing in the residential market, the competition for property companies is no longer just about service or financial transparency, but the core competitiveness lies in the ability to renovate and repair old neighborhoods.

In the aforementioned Nanjing project, Vanke Property also improved customer satisfaction and payment rates by systematically improving the public area environment of the project.

In addition, ONEWO's subsidiary, Wanwu Liangxing, also won the bids for Tencent Penguin Island and Huawei Qingpu Park, the two largest facility management outsourcing projects for Chinese enterprises. ONEWO also leverages this to showcase its own regional resource integration capabilities, comprehensive facility management capabilities, and super-large park operation capabilities.

By diversifying its efforts, ONEWO is trying to continuously break away from its reliance on the residential market, constantly improving its capabilities to move towards a broader property service market, and exploring new opportunities in the market.

This is also a necessary step for the property industry to experience the IPO frenzy, enjoy capital favor, but then need to chart an independent path as the real estate industry enters an adjustment period and the frenzy subsides. Only through experiencing cyclical challenges, continuously improving its capabilities, can the Chinese property management industry rejuvenate itself