Evergrande Property Services Sees Revenue Growth but Faces Profit Margin Decline in 2024

Evergrande Property Services Group Ltd. ( (HK:6666) ) just unveiled an announcement.

Evergrande Property Services Group Ltd. reported a modest year-on-year revenue increase of 2.2% for 2024, reaching approximately RMB12,756.7 million. However, the company faced a decline in profitability, with gross profit and net profit margins decreasing by 5.7 and 4.4 percentage points, respectively. Despite these challenges, the company achieved significant growth in its contracted GFA, with a year-on-year increase of over 100% in newly signed contracts from third parties. The board decided not to recommend a final dividend for the year, reflecting a cautious approach amid the financial performance downturn.

More about Evergrande Property Services Group Ltd.

Evergrande Property Services Group Ltd. operates in the property management industry, providing services such as property management, value-added services, and community living services. The company focuses on expanding its market presence by increasing its contracted gross floor area (GFA) and enhancing its service offerings.

YTD Price Performance: 1.33%

Average Trading Volume: 47,254,803

Technical Sentiment Signal: Buy

Current Market Cap: HK$8.22B

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