Xi'an Kingfar Property Services (1354) H2 2025 earnings summary

Executive summary

• FY2025 revenue rose 10.3% YoY to RMB1,049.2m; profit for the year increased 8.3% to RMB66.2m, while basic EPS eased to RMB0.96 from RMB1.01.

• Managed area reached 31.9m sq.m. across 201 projects; contracted area was 32.4m sq.m. at year-end.

Financial highlights

• Gross profit rose 13.3% YoY to RMB162.2m; gross margin improved 0.4 percentage points to 15.5%.

• Operating profit was RMB84.9m versus RMB74.8m; profit before tax was RMB83.6m versus RMB74.4m.

• Administrative and other expenses rose to RMB72.8m from RMB65.1m; R&D costs increased to RMB2.1m from RMB0.5m.

• Impairment loss on trade and other receivables declined to RMB9.9m from RMB11.4m; income tax expense rose to RMB17.4m from RMB13.3m.

Outlook and guidance

• 2026 priorities include expansion and service-quality improvement through project development, M&A and joint ventures, with regional footprint and market share targeted for growth.

• IFM and catering services are targeted as a second growth curve; plans also include diversified revenue, service standardization and talent development.