Core Viewpoint - Yuexiu Services (06626) anticipates a significant decline in profit for the fiscal year ending December 31, 2025, with a projected decrease of approximately 20% to 25% in profit attributable to equity holders compared to the fiscal year ending December 31, 2024, and a core net profit decline of about 45% to 50% [1] Financial Performance - The expected decline in profit and core net profit is primarily attributed to a decrease in gross margin [1] - Contributing factors include: 1. A reduction in high-margin value-added services, such as brokerage services, due to a deep adjustment in the real estate industry [1] 2. The completion of phase-based housing hard decoration projects, leading to decreased revenue and gross profit from this business [1] 3. Increased operational expenses due to ongoing investments aimed at enhancing service quality and stabilizing commercial project occupancy rates [1] 4. Rising labor costs resulting from policy adjustments [1] Future Outlook - For 2026, the company aims to pursue high-quality long-term growth and actively respond to industry adjustments [1] - The focus will be on scaling non-residential business and adjusting value-added services to cultivate profit growth points [1] - The company is committed to optimizing its structure and improving efficiency, moving towards its vision of becoming a "trusted smart city service provider" [1]
越秀服务发盈警，预期2025年度核心净利润同比下降约45%至50%