金十数据4月8日讯，碧桂园（02007.HK）发布未经审核运营数据，3月单月公司实现权益的合同销售金 额约32.1亿元，权益合同销售建筑面积约40万平方米。今年1至3月，碧桂园实现权益合同销售金额77.7 亿元，同比下降42.49%；权益合同销售建筑面积约98万平方米。对于当前的形势，在4月7日召开的内 部管理会上，碧桂园内部分析称，政策利好支持下，房地产市场"止跌回稳"取得一定成效，自去年四季 度以来，重点城市新房销售量已连续两个季度保持修复态势，但行业整体仍然承压。同时，碧桂园还提 出，当前各城市销售表现明显分化，因此要实施分类销售管理及策略，做好有效销售以及有效的资金回 笼，为保交房任务提供财务支持。 碧桂园：今年前3个月销售额77.7亿元，做好有效销售为保交房提供财务支持 ...

Summary of Country Garden Services (CGS) Conference Call Company Overview - **Company**: Country Garden Services (6098.HK) - **Industry**: Property Management Services Key Results Highlights - **Core Profit**: FY24 core profit decreased by 23% year-over-year (yoy) to Rmb3.0 billion, slightly above expectations, with inline topline performance and moderate gross profit margin (GPM) deterioration, which was better than feared [1] - **Cash Profile**: Operating cash flow (OCF) to core profit ratio improved to 1.3X, with gross cash balance increasing by 40% to Rmb18 billion due to enhanced fee collection and reduced accounts receivable (AR) from related developer Country Garden Holding (CGH) [1] - **Shareholder Returns**: Declared a dividend per share (DPS) of Rmb0.296 for FY24, implying a 55% payout against net income and a 33% payout against core profit, with a 5% yield [1] Management Guidance for FY25 - Management believes the worst is over, expecting core profit to bottom out from FY25 onwards, with potential high single-digit to teen-level percentage growth in core business topline [2] - Ongoing restructuring of non-core segments is anticipated to stabilize by FY26, with solid OCF expected to remain above 1X of net profit [2] Challenges and Risks - **Business Recovery**: Recovery remains challenging due to lower visibility on contracted project handovers from CGH and CGS's weak market positioning compared to leading players [3] - **Quality Scale Expansion**: Concerns about CGS's ability to achieve quality scale expansion amid intensified competition and terminations of low-margin contracts [5] - **Impairment Risks**: Potential for further impairment losses from receivables and goodwill, with Rmb15.4 billion in net goodwill as of FY24 [5] Financial Performance - **Revenue**: FY24 revenue increased by 3% yoy to Rmb43.993 billion, with managed gross floor area (GFA) expanding by 8% to over 1 billion sqm [9] - **Segment Performance**: - Community value-added services (2C VAS) grew by 12% yoy, while Three Supplies & Property Management (TSPM) segment saw a 25% increase [10] - City services and commercial operational services (COS) segments faced declines in topline and margins [8] Financial Metrics - **Gross Margin**: FY24 gross margin was 19%, down 1 percentage point (ppt) yoy [9] - **SG&A Expenses**: SG&A as a percentage of revenue increased by 1 ppt yoy to 11% [9] - **Net Profit**: Reported net profit of Rmb1.808 billion, a significant increase of 519% yoy, but core net profit decreased by 23% [9] Investment Thesis - CGS is rated as a "Sell" due to expected slower recovery compared to peers, challenges in project handovers, and potential business contraction across multiple segments [12] - The target price is set at HK$5.2, reflecting a downside of 19.5% from the current price [11] Conclusion - CGS is navigating a challenging environment with a focus on restructuring and improving cash flow, but faces significant risks related to market positioning, project execution, and potential impairments. The outlook remains cautious with a recommendation to sell based on current performance and future expectations.

NEW YORK, July 30, 2024 (GLOBE NEWSWIRE) -- DigiAsia Corp. (NASDAQ: FAAS) ("DigiAsia" or the "Company"), a leading Fintech as a Service ("FaaS") ecosystem provider, today announced that Gulzar Azad, an accomplished technology leader and entrepreneur, is DigiAsia's first appointee as a strategic advisor to its recently established AI strategic advisory board. DigiAsia's formation of an advisory board serves a critical purpose in navigating the trajectory of the Company as it rapidly introduces AI technology ...