碧桂园服务最新年报：经营稳健扩张，财务底盘扎实

Core Insights - The company reported a revenue growth of approximately RMB 4.361 billion, reaching a new high of RMB 48.35 billion for 2025, amidst industry-wide cash flow pressures [1] - Gross profit remained stable at around RMB 8.46 billion, with a core net profit attributable to shareholders of RMB 2.52 billion [1] - The net cash flow from operating activities was approximately RMB 2.51 billion, and the year-end bank deposits, including cash and cash equivalents, reached RMB 17.93 billion [1] Financial Performance - The board proposed a final dividend of RMB 0.0462 per share and a special dividend of RMB 0.418 per share, totaling approximately RMB 1.511 billion [1] - The company repurchased 87,996,000 shares at a total cost of approximately RMB 503 million in the open market from March 28, 2025, to February 12, 2026, and completed the cancellation of these shares [1] Market Recognition - The company has been recognized for its commitment to creating shareholder value through operational performance, receiving broad affirmation from the capital markets [1] - Morgan Stanley's research report in January 2023 indicated that the company has tactical upside potential, with considerable cash flow, improved shareholder returns, and an approximate 8% yield advantage [1]