Shimao Services Reports Revenue Decline and Operating Loss for 2024

Shimao Services Holdings Limited ( (HK:0873) ) has shared an update.

Shimao Services Holdings Limited reported a decline in revenue for the year ended December 31, 2024, with a total revenue of RMB7,895.5 million, marking a 3.7% decrease from the previous year. The company experienced a significant operating loss of RMB157.7 million compared to a profit in 2023, and a net loss of RMB223.0 million, reflecting challenges in its business operations. The decrease in cash and cash equivalents by 21.4% was attributed to equity transfer payments, investments, and lower recovery rates of service fees, indicating financial strain and impacting stakeholders’ interests.

More about Shimao Services Holdings Limited

Shimao Services Holdings Limited operates in the property management industry, offering a range of services including property management, community value-added services, value-added services to non-property owners, and city services. The company focuses on enhancing the value of properties and providing comprehensive management solutions.

YTD Price Performance: 3.00%

Average Trading Volume: 4,831

Technical Sentiment Signal: Buy

Current Market Cap: €279.3M

See more insights into 0873 stock on TipRanks’ Stock Analysis page.