Core Insights - Shimao Services (00873) reported a revenue of RMB 8.203 billion for 2023, with a gross profit of RMB 1.646 billion, and a significant turnaround in profit, achieving a net profit attributable to equity holders of RMB 273 million, compared to a loss in the previous year [1] - The core net profit attributable to equity holders increased by 29.6% year-on-year to RMB 648 million, driven by cost optimization and improved operational efficiency [1] Financial Performance - The company achieved an operating profit of approximately RMB 344 million, with basic earnings per share of RMB 0.11 [1] - Cash and cash equivalents, including time deposits with maturities over three months, rose by 2.6% to RMB 4.788 billion as of December 31, 2023, primarily due to a net cash inflow from operating activities of RMB 1.03 billion, significantly exceeding net profit [1] Business Segments - Property management services remain the cornerstone of Shimao Services, with a compound annual growth rate (CAGR) of 44.9% over the past five years [1] - In 2023, property management service revenue reached a record high of RMB 5.292 billion, reflecting a 5.0% year-on-year increase, attributed to an increase in managed building area from Shimao Group and expansion in third-party market areas [1] - As of December 31, 2023, the company managed 1,448 projects across various sectors, including residential, educational, public buildings, industrial parks, and hospitals, with a total managed area of approximately 251 million square meters [1]
世茂服务(00873)公布2023年业绩 权益持有人应占核心净利润约6.48亿元 同比上升29.6%