Core Viewpoint - Country Garden Services anticipates a revenue of approximately 48.2 billion to 48.5 billion RMB for 2025, reflecting a year-on-year growth of 9.6% to 10.2%, while net profit is expected to decline due to impairment provisions [2][4] Group 1: Financial Performance - The company expects its gross profit for 2025 to be around 8.2 billion to 8.7 billion RMB, remaining stable year-on-year [2][3] - Net profit is projected to be between 450 million to 650 million RMB, a decrease compared to the previous year, primarily due to a 9.689 billion RMB goodwill impairment from its subsidiary [3][4] - Excluding the impairment, the core net profit attributable to shareholders is estimated to be around 2.4 billion to 2.7 billion RMB [3][4] Group 2: Strategic Adjustments - In 2025, the company implemented strategic adjustments to maintain double-digit revenue growth, driven by stable income from property management and community value-added services [3][5] - The company is focusing on cost management through refined project management and digital transformation to enhance efficiency [3][5] Group 3: Cash Flow and Dividends - The company estimates that its net cash from operating activities for 2025 will not be less than 2.4 billion RMB, with bank deposits expected to exceed 17.7 billion RMB [6][7] - The board anticipates a cash dividend target of 60% of the core net profit for 2025, with a minimum of 1.5 billion RMB proposed for 2026 [6][7] Group 4: Market Response and Future Outlook - Investors have responded positively to the company's performance forecast, viewing the impairment provisions as within market expectations [6][7] - The company has been actively repurchasing shares to stabilize its stock price, indicating confidence in its financial health and future growth potential [7]

来源：观点地产网 与此同时，集团预期将录得未经审核公司股东应占核心净利润约人民币24-27亿元（2024年同期：约人 民币30.381亿元）。 关于派息，董事会建议2025年度按公司股东应占核心净利润的60%进行现金分红，并预期2026年度派息 总额不低于人民币15亿元。 免责声明：本文内容与数据由观点根据公开信息整理，不构成投资建议，使用前请核实。 观点网讯：2月27日，碧桂园服务控股有限公司发布内幕消息公告，披露2025年度资产减值、盈利预警 及分红派息安排。 公告显示，集团基于谨慎性原则，对非全资附属公司碧桂园满国环境科技集团有限公司的剩余商誉账面 余额全额计提减值，金额约人民币9.689亿元。该减值为非现金项目，不影响现金流及日常营运，但将 导致2025年净利润减少同等金额。 集团预期2025年未经审核综合收入约人民币482-485亿元，同比增长9.6%至10.2%；未经审核净利润约人 民币4.5-6.5亿元，归属公司股东净利润约5-7亿元，均同比显著下滑。下降主要是由于因集团主动清理 长账龄的贸易应收款，导致贸易应收款项的信用减值损失增加；以及过往年度实施收并购所形成的业绩 承诺相关的或有对价公允价 ...

来源：观点地产网 观点网讯：2月27日，碧桂园控股有限公司（以下简称"发行人"） 就近期重大事项公告。 涉及重大诉讼、仲裁的情况方面，截至2026年1月31日，发行人合并范围内较前次统计时点（2025年1月 31日）涉及新增标的金额5,000万元以上的未决诉讼、仲裁案件14宗，标的金额合计约32.68亿元。 失信及资产受限的情形方面，根据中国执行信息公开网，截至查询日（2026年2月24日），发行人本部 不存在被列入失信被执行人的情形。 根据中国执行信息公开网，截至查询日（2026年2月24日），发行人本部较上次查询日（2026年1月23 日）新增2 条被执行信息，涉及新增执行标的金额合计0.74亿元。 根据国家企业信用信息公示系统，截至查询日（2026年2月24日）），发行 人本部所持股权较上次查询 日（2026年1月23日）无新增被司法冻结的情形。 债务逾期的情形方面，经发行人梳理统计，截至2026年1月31日，发行人合并范围内较前次统计时点 （2025年1月31日）违约债务净新增约人民币38.61亿元（含本金或利息逾期、涉诉、不良、触发交叉违 约条款等情况导致违约）。 上述事项可能对发行人产生一定的负面 ...

格隆汇2月27日｜碧桂园公告称，截至2026年1月31日，发行人合并范围内较前次统计时点（2025年12月 31日）涉及新增标的金额5,000万元以上的未决诉讼、仲裁案件14宗，标的金额合计约32.68亿元。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不 發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損 失承擔任何責任。 碧桂園控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：2007） COUNTRY GARDEN HOLDINGS COMPANY LIMITED 海外監管公告 本海外監管公告乃由碧桂園控股有限公司（「本公司」）根據香港聯合交易所有限公司 （「聯交所」）證券上市規則（「上市規則」）第13.10B條刊發。 謹請參閱隨附本公司在中華人民共和國上海證券交易所（「上交所」）網頁登載之《碧 桂園控股有限公司關於公司重大事項的公告》（債券代碼：135797）。 另外，亦請參閱隨附本公司之附屬公司碧桂園地產集團有限公司及騰越建築科技集 團有限公司在上交所網站和╱或中華人民共和國深圳證券交易所網站登載之文件： – 1 – 1. 《碧桂園地產集團有限公司關於公司重大事項的公告》（債券代碼：163015、 175214、175366、149407、149509、149632及149748）；及 2. 《騰越建築科 ...

Core Viewpoint - Country Garden Services (碧桂园服务) anticipates a revenue of approximately RMB 48.2 billion to 48.5 billion in 2025, representing a growth of 9.6% to 10.2% compared to the same period in 2024, driven by effective market expansion and refined operations [1] Financial Performance - The company expects to achieve an unaudited net profit of approximately RMB 450 million to 650 million in 2025, a significant decrease from approximately RMB 1.8745 billion in 2024 [1] - The anticipated unaudited net profit attributable to shareholders is expected to be around RMB 500 million to 700 million in 2025, down from approximately RMB 1.8084 billion in 2024 [1] - The decline in profits is primarily due to increased credit impairment losses from the proactive cleaning of long-aged trade receivables and a decrease in fair value gains related to performance commitments from past acquisitions [1] Core Profit - The company projects an unaudited core net profit attributable to shareholders of approximately RMB 2.4 billion to 2.7 billion in 2025, compared to approximately RMB 3.0381 billion in 2024 [1] Operational Efficiency - The company focuses on enhancing customer satisfaction through refined project management and digital transformation to reduce costs and improve efficiency, maintaining a stable core business [2] - The unaudited gross profit for the year is estimated to be between RMB 8.2 billion and 8.7 billion, slightly lower than the RMB 8.4 billion recorded in 2024 [2] Financial Health - The company maintains a healthy financial position with robust cash flow from operating activities, estimating a net cash inflow from operating activities of no less than RMB 2.4 billion for the twelve months ending December 31, 2025, down from RMB 3.873 billion in 2024 [2] - The total amount of cash and cash equivalents, including bank deposits and structured deposits, is expected to be no less than RMB 17.7 billion as of December 31, 2025, compared to approximately RMB 18.1786 billion on December 31, 2024 [2] Dividend Policy - To further protect shareholder interests and demonstrate long-term investment value, the board anticipates a cash dividend target of no less than RMB 1.5 billion for the fiscal year 2026, subject to the company's dividend policy and necessary approvals [2]

Core Viewpoint - Country Garden Services Holdings Company has released its latest performance expectations for the fiscal year 2025, indicating a resilient core business amidst a complex market environment [1] Financial Performance - The company anticipates an unaudited consolidated revenue of approximately RMB 48.2 billion to RMB 48.5 billion for 2025, representing a year-on-year growth of 9.6% to 10.2% [1] - Gross profit is expected to be around RMB 8.2 billion to RMB 8.7 billion, showing a year-on-year stability [1] - The estimated unaudited net profit for 2025 is projected to be between RMB 450 million to RMB 650 million, influenced by a goodwill impairment of RMB 969 million from a non-wholly-owned subsidiary and proactive measures to clean up long-aged trade receivables [1] Strategic Insights - Excluding the goodwill impairment, the core net profit attributable to the parent company is expected to reach approximately RMB 2.4 billion to RMB 2.7 billion [1] - Market analysts view the temporary pressure on net profit as a strategic "active shift," where short-term profit concessions are made for long-term value reconstruction, reflecting the company's governance maturity and strategic determination [1] Cash Flow and Liquidity - In a context where the property industry faces widespread financial pressure, Country Garden Services demonstrates strong cash flow performance [1] - The company estimates that the unaudited net cash generated from operating activities for 2025 will not be less than approximately RMB 2.4 billion [1] - The total amount of unaudited bank deposits (including cash and cash equivalents, time deposits, restricted bank deposits, and structured deposits) is expected to be no less than RMB 17.7 billion [1]

Core Viewpoint - Country Garden Services Holdings Company has released its 2025 performance forecast, indicating that despite short-term pressure on net profit due to proactive strategic adjustments, the core business fundamentals remain robust, cash flow is healthy, and increased shareholder returns are favored by investors, demonstrating the effectiveness of its "proactive shift" strategy [1][7]. Revenue Growth and Core Business Resilience - In 2025, the company anticipates an unaudited consolidated revenue of approximately RMB 48.2 billion to RMB 48.5 billion, representing a year-on-year growth of 9.6% to 10.2%, primarily driven by stable growth in property management services, community value-added services, and "three supplies and one industry" business [2][8]. - The company emphasizes enhancing customer satisfaction and has strengthened project-level refined management and investment, along with digital transformation to achieve cost reduction and efficiency improvement, maintaining a stable core business foundation [2][8]. - The proportion of revenue from related parties has been decreasing, with the ratio remaining at 1.1% in the first half of 2025 compared to 2024, indicating reduced reliance on related party income and helping to mitigate overall gross margin decline [2][8]. Short-term Net Profit Pressure and Strategic "Proactive Shift" - Due to prolonged customer payment cycles at its non-wholly-owned subsidiary, Country Garden Full National Environmental Technology Group, the company has strategically adjusted its operations, leading to a full impairment of goodwill amounting to approximately RMB 969 million [3][9]. - The company expects its unaudited net profit for 2025 to be between RMB 450 million and RMB 650 million, with attributable net profit ranging from RMB 500 million to RMB 700 million, while the core net profit is projected to be around RMB 2.4 billion to RMB 2.7 billion [3][9]. - Market analysts view the short-term net profit pressure as part of a strategic "proactive shift," with the company currently in an "active optimization period," where short-term profit pressures are expected to enhance long-term competitiveness [3][9]. Healthy Cash Flow and Investor Recognition - The company has maintained a healthy and sufficient cash flow, estimating a net cash inflow from operating activities of no less than approximately RMB 2.4 billion for 2025, with total bank deposits expected to be no less than RMB 17.7 billion by December 31, 2025 [4][10]. - The strong operating cash flow and ample cash reserves provide a solid foundation for risk resistance, supporting share buybacks and high dividends [4][10]. - The board anticipates a cash dividend target for 2025 based on 60% of the core attributable net profit, with a proposed minimum cash dividend of RMB 1.5 billion for 2026, reflecting a commitment to shareholder value [5][10][11]. Shareholder Returns and Market Outlook - The company has repurchased at least RMB 500 million worth of shares in the open market, demonstrating management's confidence in the company's intrinsic value and future prospects, which has garnered positive investor responses [5][11]. - Morgan Stanley Securities has noted that Country Garden Services possesses tactical upside potential, with considerable cash flow, improved shareholder returns, and an approximate 8% yield [6][11].

Core Viewpoint - Country Garden Services (碧桂园服务) expects to achieve a comprehensive revenue of approximately RMB 48.2 billion to 48.5 billion in 2025, representing a growth of 9.6% to 10.2% compared to the same period in 2024, driven by effective market expansion and refined operations [1] Financial Performance - The company anticipates an unaudited net profit of approximately RMB 450 million to 650 million for 2025, a significant decrease from approximately RMB 1.8745 billion in 2024 [1] - The expected unaudited net profit attributable to shareholders is projected to be around RMB 500 million to 700 million, down from approximately RMB 1.8084 billion in 2024 [1] - The decline in net profit is primarily due to increased credit impairment losses from the proactive cleaning of long-aged trade receivables and a decrease in fair value changes of contingent consideration related to past acquisitions [1] Core Profit - The company expects to achieve an unaudited core net profit attributable to shareholders of approximately RMB 2.4 billion to 2.7 billion in 2025, compared to approximately RMB 3.0381 billion in 2024 [1] Operational Efficiency - The company focuses on enhancing customer satisfaction through refined project management and digital transformation to reduce costs and improve efficiency, maintaining a stable fundamental performance in its core business [2] - The unaudited gross profit for the current year is estimated to be between RMB 8.2 billion and 8.7 billion, slightly above the RMB 8.4 billion recorded in 2024 [2] Financial Health - The company maintains a healthy financial position with robust cash flow from operating activities, estimating a net cash flow from operating activities of no less than approximately RMB 2.4 billion for the year ending December 31, 2025, down from approximately RMB 3.873 billion in 2024 [2] - The total amount of unaudited bank deposits and structured deposits is expected to be no less than RMB 17.7 billion as of December 31, 2025, compared to approximately RMB 18.1786 billion on December 31, 2024 [2] Dividend Policy - To further protect shareholder interests and demonstrate long-term investment value, the board anticipates a cash dividend target of no less than RMB 1.5 billion for the fiscal year 2026, subject to the company's dividend policy and necessary approvals [2]

Core Viewpoint - Country Garden (02007) announced the issuance of 266 million shares due to the conversion of zero-coupon mandatory convertible bonds (Mandatory Convertible Bonds A) that will mature 78 months after June 30, 2025 [1] Group 1 - The conversion of the bonds will take effect on February 27, 2026 [1] - The bonds are categorized as zero-coupon, indicating that they do not pay interest during their term [1] - The issuance of shares is a strategic move to manage debt and improve liquidity [1]