股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年3月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 世茂服務控股有限公司（於開曼群島註冊成立之有限公司） 呈交日期: 2026年4月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00873 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 3,500,000,000 | HKD | | 0.01 | HKD | | 35,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 3,500,000,000 | HKD | | 0.01 | HKD | | 35,000, ...

Core Viewpoint - Shimao Services (873.HK) reported a revenue of 7.88 billion yuan for the year 2025, marking a 10% year-on-year increase, while core net profit reached approximately 600 million yuan, reflecting a 20% growth, amidst ongoing industry adjustments and intensified market competition [1][9] Financial Performance - The company achieved a core net profit of 600 million yuan, with a rapid increase in profitability [2][10] - Revenue from property management services grew by 4.7% to 5.82 billion yuan, with residential income rising by 8.3% to 3.78 billion yuan [11] - Non-residential sectors, including office buildings and public facilities, saw significant growth, with revenues increasing by 17.2% and 19.4% respectively [11] - Management expenses decreased by 15.7% to 700 million yuan, enhancing operational efficiency [3][12] Market Expansion - The company added a saturated annual revenue of 2 billion yuan, a 35.1% increase year-on-year, and achieved a record high in new contract area of 54.836 million square meters, up 27.1% [3][12] - High-quality urban projects accounted for 70.2% of the portfolio, with first-tier and new first-tier cities making up 73.2% [4][12] Service Quality Enhancement - The "Heart Gravity Live+" quality renewal initiative was implemented, focusing on service standard upgrades and scenario-based capabilities to enhance customer experience [1][6] - The company upgraded approximately 18,000 homecoming pathways and activity spaces, and completed 210,000 security device upgrades [6][13] - Community engagement efforts included 1.96 million owner visits across 107 cities, enhancing service perception and connection [6][13] Innovation and Talent Development - The company explored new service possibilities, such as the "Senior Sharing" platform for community students and partnerships with Alipay for efficient visitor access [7][14] - The "Future Forest Academy" training system was established to enhance service quality and management capabilities, supporting long-term development [15] Future Outlook - The company aims to maintain a long-term perspective, focusing on high-quality and sustainable development, while continuously enhancing its "Six-Dimensional Comprehensive New Development" strategy [8][15]

Core Viewpoint - The property management industry is shifting its focus from scale growth to sustainable cash flow generation and independent operational capabilities as it transitions from a growth phase to a stock game phase [1][12]. Group 1: Company Performance - Shimao Services reported a revenue of 7.88 billion yuan in 2025, reflecting a strategic shift towards quality and efficiency rather than mere scale [3]. - The property management service revenue grew by 4.7% year-on-year to 5.82 billion yuan, accounting for 73.8% of total revenue, with 71.2% of managed area coming from independent third-party projects [4][5]. - The company achieved a gross profit of 1.4 billion yuan and an operating profit of 162 million yuan, marking a significant turnaround from a loss of 158 million yuan in 2024 [6]. Group 2: Revenue Structure - The company’s diversified revenue structure includes community value-added services, non-owner value-added services, and urban services, contributing to overall income stability [5]. - Community value-added service revenue reached 1.32 billion yuan, up 9.5% year-on-year, with the elderly care business achieving 216 million yuan in revenue, a 15.2% increase [9]. - The urban services segment generated 542 million yuan, with a 137.2% increase when excluding the impact of a divested subsidiary [11]. Group 3: Growth Strategies - The company is expanding its non-residential business, with a 44.7% increase in newly added non-residential property contract area, reaching 35.2% of total managed area [8]. - The company focuses on high-quality project selection, with 85.4% of managed properties located in first-tier and new first-tier cities, ensuring sustainable revenue growth [14][15]. - The company’s strategic emphasis on operational efficiency led to a 15.7% reduction in administrative expenses, reflecting a commitment to cost management while expanding business scale [16]. Group 4: Industry Context - The property management industry is undergoing a structural transformation, with a shift from reliance on real estate developers to independent operational capabilities [12][13]. - The market is increasingly valuing cash flow quality and service capabilities over mere scale, indicating a fundamental change in investor sentiment [13][17]. - Shimao Services is positioned to benefit from this industry trend, with a clear growth path and improved profitability metrics [17].

各业务板块营收也保持稳步增长态势，物业管理服务收入58.2亿元，同比增长4.7%，占比提升至 73.8%，牢牢稳住了整体业绩的基本盘；社区增值服务收入13.2亿元，同比增长9.1%，占比提升至 16.8%，其中场地空间运营收入增长近8%，房屋租售业务收入增长近17%，新零售业务收入达1亿元， 多元增值业务逐步打开全新盈利空间。世茂服务通过精细化调配资源、聚焦高价值业务布局，稳步推动 利润规模与盈利结构同步升级，顺利达成"立足本业、多元扩展、强化管理、提效增利"的经营目标。 服务品质升级：筑牢基础服务底线，拔高专属服务层次 世茂服务一直将服务视作企业立足的根本，2025年围绕"控底线、扶均线、拔高线"三条品质核心主线， 逐步完善全流程服务体系，一方面夯实基础服务保障力度，另一方面精心打造特色增值服务，全方位提 升客户体验，依靠高品质服务，实现客户黏性与品牌口碑的双向提升。 2025年，房地产行业处于深度调整阶段，物业服务行业也随之步入存量竞争、提质增效的转型周期，面 对着人力成本持续上涨、盈利空间逐步收窄、市场竞争日趋激烈的多重挑战，不少物管企业都在摸索适 合自身、穿越地产周期、实现稳健韧性发展的路径。作为行业 ...

Core Viewpoint - The company has reported its 2025 annual performance amidst ongoing industry adjustments and intensified market competition, focusing on a "six-dimensional comprehensive new development" strategy to enhance service quality and operational efficiency [1] Financial Performance - The company achieved a revenue of 7.88 billion yuan, representing a year-on-year growth of 10% [3] - Core net profit reached approximately 600 million yuan, with a year-on-year increase of 20%, indicating sustained operational profitability [3][5] - Management expenses decreased by 15.7% to 700 million yuan, significantly improving operational efficiency [5] Revenue Structure - The property management service segment, as a key business, saw a revenue increase of 4.7% to 5.82 billion yuan, with residential income growing by 8.3% to 3.78 billion yuan [4] - Non-residential segments, including office buildings and public facilities, experienced rapid growth, with revenues increasing by 17.2% and 19.4% respectively [4] - Community value-added service revenue rose by 9.1% to 1.32 billion yuan, contributing to a diversified and high-quality revenue structure [4] Market Expansion - The company added a saturated annual revenue of 2 billion yuan, marking a significant year-on-year increase of 35.1%, and achieved a new record in contract area with an increase of 27.1% [5] - High-quality urban projects accounted for 70.2% of the portfolio, with first-tier and new first-tier cities representing 73.2% [6] Quality Improvement Initiatives - The company launched the "Heart Gravity Live+" quality renewal initiative, focusing on service standard upgrades and enhancing customer experience [7] - Approximately 1.8 million homecoming pathways and activity spaces were upgraded, along with significant improvements in security and community services [7] Talent Development - The company emphasizes talent development through the "Future Forest Academy," which supports service quality and management capability enhancement [9][10] Future Outlook - The company aims to strengthen its operational foundation and continue to enhance service quality, management, and market expansion in response to evolving industry demands [11]

Core Viewpoint - Shimao Services has achieved significant growth in managed and contracted building areas, driven by proactive market expansion and steady project deliveries, aiming for record performance in 2025 [2][3] Group 1: Market Expansion and Performance - The increase in managed and contracted building areas is attributed to the group's proactive market expansion team, which focuses on diverse property types such as residential, office buildings, and public facilities [2] - In 2025, Shimao Services aims to reach new performance peaks, with a target annual contract amount of approximately 1.974 billion yuan, representing a year-on-year growth of 33.1% [2] - The newly contracted building area is expected to be 54.8 million square meters, reflecting a year-on-year increase of 27.1% [2] Group 2: Financial Performance - For the year 2025, Shimao Services reported revenues of 7.88 billion yuan, remaining relatively stable year-on-year [3] - The gross profit was approximately 1.4 billion yuan, with operating profit turning positive at 161.5 million yuan [3] - The profit attributable to equity holders was about 103 million yuan, with core net profit reaching approximately 524 million yuan, both showing a turnaround from losses [3] - The total managed building area reached approximately 221 million square meters, a year-on-year increase of 1.3%, while the contracted building area was about 335 million square meters, up by 6.5% year-on-year [3]

Core Viewpoint - Shimao Services reported a strong financial performance for the year 2025, with revenue reaching 7.88 billion yuan, a year-on-year increase of 10%, and core net profit of approximately 600 million yuan, up 20% year-on-year, indicating sustained operational efficiency and growth potential [3][4]. Financial Performance - The company achieved a revenue of 7.88 billion yuan, marking a 10% increase compared to the previous year [3][4]. - Core net profit rose to 600 million yuan, reflecting a 20% year-on-year growth, with core net profit margin improving by 1.0 percentage points to 7.3% [5]. - Management expenses decreased by 16% to 700 million yuan, showcasing effective cost control measures [3][5]. Revenue Structure - The property management services segment, which is a key revenue driver, generated 5.82 billion yuan, a 4.7% increase year-on-year, with residential income rising by 8.3% to 3.78 billion yuan [4]. - Non-residential segments, including office buildings and public facilities, saw significant growth, with revenues increasing by 17.2% and 19.4% respectively [4]. - Community value-added services revenue grew by 9.1% to 1.32 billion yuan, accounting for 16.8% of total revenue [4]. Market Expansion - The company added a record annual saturated income of 2 billion yuan, a 35.1% increase year-on-year, and expanded its contracted area by 27.1% to 54.836 million square meters [6][7]. - High-quality projects in first-tier and new first-tier cities accounted for 73.2% of the new contracts, indicating a focus on premium market segments [7]. - The company is enhancing its operational efficiency through a multi-business model, expanding into various sectors such as residential, industrial parks, and healthcare [7]. Service Quality Enhancement - The "Heart Gravity Live+" quality renewal initiative aims to improve customer experience through service standard upgrades and scenario-based capabilities [3][8]. - The company implemented significant upgrades in residential areas, including 21,000 security device upgrades and extensive community engagement activities [8]. - In non-residential spaces, the company executed over 1,300 maintenance and renovation projects, ensuring high service stability and customer satisfaction [9]. Talent Development - The company emphasizes talent development through the "Future Forest Academy," focusing on enhancing service quality and management capabilities [10]. - Continuous training and practical experience are integrated to foster a skilled workforce that supports long-term growth [10]. - The company aims to adapt to evolving market demands by enhancing its comprehensive capabilities in service quality, management, and market expansion [10].

Core Viewpoint - Shimao Services (873.HK) reported a revenue of 7.88 billion yuan for the year 2025, reflecting a 10% year-on-year increase, while core net profit reached approximately 600 million yuan, up 20% year-on-year, indicating sustained operational efficiency and growth potential in a competitive market environment [3][4][5]. Financial Performance - The company achieved a revenue of 7.88 billion yuan, a 10% increase year-on-year [3][4]. - Core net profit was approximately 600 million yuan, representing a 20% year-on-year growth [3][5]. - Management expenses decreased by 16% to 700 million yuan, enhancing operational efficiency [3][5]. Business Development - The company added a new annual saturated income of 2 billion yuan, a significant increase of 35.1% year-on-year, marking a historical high [6]. - New contract area reached 54.836 million square meters, up 27.1% year-on-year [6]. - The property management service segment generated 5.82 billion yuan, a 4.7% increase year-on-year, with residential income rising by 8.3% to 3.78 billion yuan [4][6]. Strategic Initiatives - The company is implementing the "Heart Gravity Live+" quality renewal initiative, focusing on service standard upgrades and enhancing customer experience [3][8]. - The "Three Lean" enhancement actions aim to improve operational quality and efficiency through refined management strategies [4][5]. Market Expansion - The company is expanding its market presence by focusing on high-value sectors, with 70.2% of new projects located in high-energy urban clusters [6][7]. - The proportion of community value-added services increased by 9.1% to 1.32 billion yuan, contributing to a diversified revenue structure [4]. Service Quality Improvement - The company is enhancing service capabilities through systematic talent development via the "Future Forest Academy," focusing on service quality and management skills [10]. - Various innovative service initiatives have been launched, including community engagement activities and tailored service solutions for different non-residential spaces [9][10]. Future Outlook - The company aims to maintain a long-term commitment to high-quality and sustainable development, emphasizing service excellence and brand value enhancement [11].

智通财经APP讯，3月27日，世茂服务(00873)发布2025年全年业绩。报告期内，公司实现收入78.8亿 元，同比增长10%;核心净利润约6亿元，同比增长20%，经营性盈利能力持续释放。与此同时，公司持 续推进精细化管理与成本优化，管理费用同比下降16%至7亿元，运营效率显著提升;在市场拓展方面， 新增年饱和收入达20亿元，同比大增35.1%，为公司中长期增长积蓄动能。 2025年内，公司进一步推动"心引力Live+"品质焕新行动落地，通过服务标准升级与场景化能力打造， 持续强化客户体验与服务价值，该举措亦为公司整体经营质量的增长提供了重要支撑。 核心净利润同比增长20%至6亿元，盈利水平快速提升 2025年，世茂服务部署"三大精益"提升行动，"做精、做细、做实"的经营策略推动了发展质量与经营效 率同步提升。同时，世茂服务遵循"横向做规模、纵向做深度"的经营逻辑，持续拓宽业务边界并不断提 升单项目价值，实现营业收入78.8亿元。 从收入结构看，得益于对高价值赛道的持续深耕，作为压舱石业务的物业管理服务板块，收入同比增长 4.7%至58.2亿元，其中住宅业态收入同比增长8.3%至37.8亿元、非住宅板块加速 ...

格隆汇3月27日丨世茂服务(00873.HK)公布年度业绩，2025年度，收入为人民币78.80亿元，较2024年同 期的人民币78.96亿元基本持平；经营利润为人民币1.62亿元，较2024年同期的经营亏损人民币1.58亿 元，增长明显；公司权益持有人应占利润为人民币1.03亿元，较2024年同期的公司权益持有人应占亏损 人民币2.72亿元，增长明显。公司权益持有人应占核心净利润为人民币5.24亿元，同比上升6.5%。6.年 内，每股基本盈利为人民币0.04元。 集团收入来自四个业务：(1)物业管理服务；(2)社区增值服务；(3)非业主增值服务；及(4)城市服务。年 内(1)物业管理服务收入为人民币58.17亿元，占总收入的73.8%，同比增长4.5%；(2)社区增值服务收入 为人民币13.23亿元，占总收入的16.8%，同比增长9.5%；(3)非业主增值服务收入为人民币1.99亿元，占 总收入的2.5%，同比增长13.1%；及(4)城市服务收入为人民币5,42亿万元，占总收入的6.9%，同比下降 42.8%。 截至2025年12月31日，集团包含到期日超过三个月的定期存款的现金及现金等价物为人民币29.9 ...