Yuexiu Services Group (6626) H2 2025 earnings summary

Executive summary

• Revenue for 2025 reached RMB3,901.9 million, up 0.9% year-over-year, with non-commercial property management and value-added services contributing RMB3,153.4 million (+0.6%) and commercial property management and operational services RMB748.5 million (+2.0%).

• Gross profit margin declined to 14.8% from 23.3% year-over-year, mainly due to increased costs and a contraction in high-margin value-added services.

• Profit attributable to owners was RMB273.7 million, down 22.5% year-over-year; basic EPS was RMB0.18 (2024: RMB0.23).

• Final dividend proposed at HKD0.037 per share, total annual dividend HKD0.125 per share, raising payout ratio to 60%.

Financial highlights

• Cost of sales increased 12.1% to RMB3,325.2 million, outpacing revenue growth.

• Net profit for the year was RMB277.9 million, net profit margin at 7.1% (2024: 7.4%).

• Cash and cash equivalents plus time deposits totaled RMB4,906.3 million at year-end.

• No bank borrowings or major contingent liabilities as of year-end.

Outlook and guidance

• Focus for 2026 is on refined services, management innovation, structure optimization, and cost efficiency.

• Plans to strengthen presence in strategic cities, expand high-quality project contracts, and optimize value-added services.

• Continued investment in digitalization, ESG, and sustainable development initiatives.