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KWG Living Group (3913) investor relations material

KWG Living Group H1 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H1 2025 earnings summary27 Aug, 2025

Executive summary

  • Revenue for the six months ended 30 June 2025 was RMB1,658.1 million, down 13.8% year-over-year, with a net loss of RMB276.6 million, reversing from a profit in the prior year.

  • Gross profit declined 25.7% to RMB418.8 million, and gross margin fell to 25.3% from 29.3% year-over-year.

  • The downturn was driven by macroeconomic headwinds, industry adjustments, strategic contraction in certain business lines, and significant impairment provisions on trade receivables, goodwill, and property, plant and equipment.

  • The company focused on deepening its presence in core regions, enhancing service quality, and improving operational efficiency through cost control and digital upgrades.

  • Business independence improved, with revenue from independent third parties rising to 91.5% from 85.2% year-over-year.

Financial highlights

  • Revenue decreased to RMB1,658.1 million from RMB1,923.4 million year-over-year.

  • Net loss was RMB276.6 million, compared to a net profit of RMB69.9 million in the prior year; basic and diluted loss per share: RMB13.23 cents (compared to earnings of RMB2.85 cents per share in prior year).

  • Administrative expenses decreased by 13.5% to RMB206.7 million; cost of sales fell 8.8% to RMB1,239.3 million.

  • Other expenses rose 68% year-over-year to RMB370.3 million, mainly due to impairment losses on trade receivables (RMB237.2 million), goodwill (RMB84.5 million), and property, plant and equipment (RMB28.8 million).

  • Cash and cash equivalents stood at RMB1,140.9 million as of 30 June 2025.

Outlook and guidance

  • The company expects continued global economic uncertainty but anticipates steady domestic recovery in the second half of 2025.

  • Strategic focus remains on core regions, quality service, commercial asset operations, and talent development.

  • Emphasis on prudent risk management, cost control, and sustainable development amid ongoing industry challenges.

  • No interim dividend declared for the period.

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Frequently asked questions

KWG Living Group Holdings Limited is a prominent property management company based in China, specializing in a broad array of residential and non-residential property management services. The company's offerings encompass commercial operational services, real estate intermediary and consultancy, advertising planning, and business services, along with urban and rural environmental sanitation services. It operates through two main segments: Residential Property Management Services, which includes pre-sale management services, property management services, community value-added services, public space value-added services, and Commercial Property Management and Operational Services. The company is headquartered in Wan Chai, Hong Kong, and its shares are listed on the Stock Exchange of Hong Kong.

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