Xi'an Kingfar Property Services (1354) H1 2025 earnings summary

Executive summary

• H1 2025 revenue rose 1.76% YoY to RMB471.5m; gross profit increased 13.87% to RMB79.3m and profit rose 3.53% to RMB32.1m.

• Contracted GFA reached 18.2m sq.m.; 192 managed projects covered 17.498m sq.m., while contracted projects totaled 198.

Financial highlights

• Revenue increased to RMB471.5m from RMB463.3m; cost of sales decreased 0.4% to RMB392.2m.

• Operating profit rose to RMB43.9m from RMB38.8m; profit before tax was RMB42.0m versus RMB38.2m, and profit for the period was RMB32.1m versus RMB31.0m.

• Administrative and R&D costs rose to RMB32.9m from RMB29.4m; impairment losses on receivables increased to RMB3.8m from RMB2.7m.

• Net finance costs increased to RMB2.0m from RMB0.6m.

Outlook and guidance

• H2 priorities include deepening property management and expanding city services, particularly in Northwest China, through joint ventures, M&A and project expansion.

• Plans include improving bid-win rates, broadening service scope and exploring new markets, business models and revenue sources.

• Management aims to strengthen service standards, customer experience, professional staffing and training, and leverage parent-group expansion opportunities to extend coverage.