COUNTRY GARDEN(HK:02007) 3 6 Ke·2025-03-28 01:55Core Viewpoint - Country Garden Services reported a net profit increase of 262.8% for the fiscal year 2024, despite a slight revenue growth of 3.2% and a decline in gross profit [1][4]. Financial Performance - Total revenue for 2024 was approximately 43.993 billion RMB, with a gross profit of 8.4 billion RMB, down 3.8% year-on-year [1][4]. - Net profit reached 1.875 billion RMB, marking a significant increase of 262.8% compared to the previous year [1]. - The company plans to distribute a total dividend of approximately 0.2961 RMB per share, amounting to about 0.99 billion RMB, which is 55% of the net profit attributable to shareholders for 2024 [4]. Business Segments - Property management services generated approximately 25.91 billion RMB, a year-on-year increase of 4.9%, accounting for 58.9% of total revenue [4][5]. - Community value-added services brought in about 4.194 billion RMB, up 11.8% year-on-year, representing 9.5% of total revenue [4][5]. - The "Three Supplies and One Industry" business segment saw revenue of approximately 8.16 billion RMB, a growth of 25.1% [4][5]. - City services revenue decreased by approximately 14.7% to about 4.168 billion RMB, while commercial operation services revenue fell by 38.1% to around 0.627 billion RMB [4][5]. Cash Flow and Receivables - As of December 31, 2024, net trade receivables amounted to approximately 17.689 billion RMB, an increase of about 1.311 billion RMB from the previous year [7]. - The company has implemented measures to enhance debt collection, including establishing a special task force to manage receivables [9][10]. - Cash flow from operating activities for 2024 was approximately 3.87 billion RMB, with total bank deposits and cash reaching about 18.179 billion RMB, an increase of approximately 5.239 billion RMB [10]. Strategic Focus - The company aims to stabilize operations, ensure growth, and seek breakthroughs in 2025, with a long-term goal of achieving a 1:1 ratio of net cash flow to net profit [11]. - Management emphasizes a shift from external growth to internal development, focusing on enhancing operational capabilities and leveraging AI [11].