Suxin Joyful Life Services (2152) H1 2025 earnings summary

Executive summary

• H1 2025 revenue rose 8.6% YoY to RMB485.9m and profit for the period increased 4.6% to RMB33.9m; gross profit fell 6.0% to RMB82.8m as new projects carried lower margins.

• Contracted GFA reached 28.3m sq.m. across 197 projects, up 57.2% YoY; managed projects totaled 177 with 26.9m sq.m. of GFA.

Financial highlights

• Revenue was RMB485.9m versus RMB447.5m; cost of sales rose to RMB403.1m from RMB359.5m, while gross profit declined to RMB82.8m from RMB88.1m.

• Profit before tax was RMB46.8m versus RMB45.3m; profit for the period was RMB33.9m versus RMB32.4m, and profit attributable to owners increased to RMB34.4m from RMB31.2m.

• Basic and diluted EPS increased to RMB0.34 from RMB0.31; other expenses fell to RMB1.4m from RMB13.0m, while administrative expenses rose 13.9% to RMB31.9m.

• Net cash used in operating activities improved to RMB48.2m from RMB93.9m; cash and cash equivalents declined to RMB261.8m from RMB358.1m at 31 Dec 2024.

Outlook and guidance

• 2025 priorities include expanding across Jiangsu and exploring other provinces, pursuing new projects, and strengthening service quality and operational standards.

• Plans include mechanized and smart sanitation equipment, AI-enabled service optimization, and deeper value-added services and full-lifecycle property offerings.

• Expected full use of proceeds for acquisitions and the Suxin Leju talent-housing initiative was extended to 31 Dec 2025, pending target selection and renovation discussions.