Lushang Life Services (2376) H1 2025 earnings summary

Executive summary

• H1 revenue was RMB293.850m, down 4.8% YoY; net profit attributable to owners was RMB16.034m, down 26.0%.

• Gross profit rose 2.7% to RMB62.058m, with gross margin up to 21.1% from 19.6%.

• Managed 100 projects covering 23.075m sq.m. at June 30, 2025, down 1.7% YoY.

Financial highlights

• Operating profit was RMB21.361m vs RMB27.487m; total profit was RMB21.266m vs RMB28.897m; profit for the period was RMB15.989m vs RMB21.928m.

• Cost of sales fell 6.6% to RMB231.8m; management and R&D expenses rose 8.8% to RMB28.3m.

• Basic and diluted EPS were both RMB0.12 vs RMB0.16; return on net assets was 2.81%.

Outlook and guidance

• No material investment or capital-asset plans for the period; future business development opportunities will continue to be assessed.

• Shandong remains the strategic development focus, with service expansion and customer experience initiatives supporting future growth.