Hollwin Urban Operation Service Group (2529) H2 2025 earnings summary

Executive summary

• FY2025 revenue fell 1.3% YoY to RMB674.7m, while profit rose 4.2% to RMB74.5m; gross margin improved to 25.7%.

• Managed GFA expanded 36.9% YoY to 16.7m sq.m., led by property management growth; cash and cash equivalents were RMB353.3m at year-end.

Financial highlights

• Revenue was RMB674.7m vs RMB683.5m; gross profit was RMB173.7m vs RMB172.3m.

• Operating profit increased to RMB95.9m from RMB90.6m; profit before tax was RMB99.2m vs RMB95.1m.

• Profit for the year was RMB74.5m vs RMB71.5m; attributable profit was RMB74.4m vs RMB71.9m.

• Basic and diluted EPS was RMB0.46 vs RMB0.50; proposed final dividend was RMB0.24 per share vs RMB0.23.

Outlook and guidance

• 2026 priorities include expanding Hunan market presence, selective M&A and third-party customer growth, portfolio optimization, and stronger corporate governance and ESG practices.

• Planned service expansion targets parks, government properties, scenic areas, rail transit, schools, residential and commercial properties, urban environment maintenance, and energy-efficient lighting upgrades.