Core Insights - 弘阳服务 reported a revenue of 1.027 billion RMB for 2024, representing a year-on-year decline of 3.6% [1] - The company is focusing on diversifying its service offerings to include various types of properties beyond residential [3] Financial Performance - Property management service revenue was 823 million RMB, down 2.1% year-on-year; non-owner value-added service revenue was 42.7 million RMB, down 36.2% due to reduced project deliveries; community value-added service revenue increased by 2.9% to 161 million RMB [1] - Gross profit for the period was 200 million RMB, a decrease of 20.9% year-on-year, with a gross margin of 19.4%, down from 23.7% in 2023 [1] - Net profit increased by 6.3% to 15.1 million RMB [1] Profit Margins - The gross margin for property management services was 17.8%, down from 22.3% in the previous year, primarily due to the exit from certain commercial property management projects and rising employee and subcontractor costs [1] - Non-owner value-added service gross margin was 10.9%, down from 15.8%, affected by declining margins on co-marketing services provided to real estate developers [1] - Community value-added service gross margin was 30.3%, down from 35.1%, mainly due to increased costs in parking space sales [1] Project Management - As of the end of 2024, the company managed 322 projects with a signed building area of approximately 54.2 million square meters, a 0.55% increase from the beginning of the year [2] - The total managed building area was approximately 49.3 million square meters, reflecting a growth of about 3.79% compared to 2023 [2] Asset and Liability Overview - The company's current assets amounted to 1.375 billion RMB, a decrease of 2.2% year-on-year; cash and cash equivalents were primarily in RMB, totaling 561 million RMB, down 12.1% [4] - The debt-to-asset ratio was 45.2%, a reduction of 1.8% from the previous year [4]
弘阳服务：2024年收入10.27亿元，正努力使服务供应多样化