Yuexiu Services Group (6626) H1 2026 earnings summary

Executive summary

• Revenue for 1H2026 was RMB1,914.6 million, down 2.4% year-on-year, with profit attributable to owners at RMB223.9 million, down 6.6%.

• Property management services revenue grew 17.3% year-on-year to RMB840 million, now comprising 44% of total revenue.

• Managed GFA expanded 8.6% to 79.8 million sq.m.; contracted GFA rose 5.6% to 95.0 million sq.m.

• Interim dividend increased 12.1% to RMB0.089 per share (HKD0.103), with a payout ratio of 60%.

• Recognized as a top 10 property management company in China and top 1 in Guangzhou for 2026.

Financial highlights

• Revenue: RMB1,914.6 million, down 2.4% year-on-year.

• Gross profit margin improved to 21.5% from 21.3% year-on-year.

• Net profit attributable to owners: RMB223.9 million, down 6.6% year-on-year; net margin 12.3%.

• Cash and time deposits totaled RMB4,969.6 million at period end.

• Basic EPS: RMB0.15 (down from RMB0.16).

Outlook and guidance

• Focus on quality enhancement, operational efficiency, and digital transformation to drive sustainable growth.

• Plans to optimize project portfolio by exiting underperforming projects and focusing on core cities, especially the Greater Bay Area.

• Continued emphasis on value-added services and digital intelligence integration as key growth drivers.