Palm(SZ:002431) Sou Hu Cai Jing·2025-06-10 01:46Core Insights - Palm Holdings has faced significant challenges since its IPO on June 10, 2010, with a current market value of 5.167 billion yuan, down from 8.057 billion yuan at the time of listing, reflecting a tumultuous growth journey in the landscaping industry [1][6] - The company's main business includes landscape design and engineering construction, with engineering construction accounting for 95.42% of revenue, while design services contribute only 2.37% [3] - Over the 15 years since its IPO, Palm Holdings has recorded a cumulative profit decline of 1.037 billion yuan, with net profit turning from 168 million yuan in 2010 to a loss of 1.579 billion yuan in 2024, indicating a deteriorating operational performance [3][4] Revenue Analysis - In 2020, Palm Holdings achieved revenue of 4.821 billion yuan, which has decreased to 3.065 billion yuan in 2024, showing a clear downward trend in revenue scale [3] Profitability Analysis - The company's net profit shifted from a slight profit of 44 million yuan in 2020 to a substantial loss of 1.579 billion yuan in 2024, indicating a drastic decline in profitability [4] Market Value Trends - The peak market value of Palm Holdings reached 26.459 billion yuan on June 12, 2015, with the stock price at 48.2 yuan, but as of June 9, the stock price has plummeted to 2.85 yuan, resulting in a market value loss of 21.293 billion yuan, or 80.47% [6]