Core Insights - The company reported a revenue of 18.14 billion RMB for the first half of 2025, reflecting a year-on-year growth of 3.1% [1] - Gross profit reached 2.49 billion RMB, up 3.8% year-on-year, while net profit was 840 million RMB, increasing by 5.4% [1] - Core net profit stood at 1.32 billion RMB, showing a significant year-on-year growth of 10.8% [1] Financial Performance - Cash assets totaled 11.46 billion RMB, with operating net cash flow increasing by 2.05 billion RMB year-on-year [1] - The company plans to distribute a total dividend of 1.1 billion RMB, resulting in an annualized dividend yield of approximately 9% [1] Business Segments - Revenue from residential property services reached 10.28 billion RMB, marking a 10.4% year-on-year increase, with 168 new projects added [1] - Property and facility management services generated 5.17 billion RMB, up 7.7% year-on-year, with 291 new projects [1] - The residential-related asset services segment saw the fastest growth, with revenue of 860 million RMB, a substantial increase of 39.6% year-on-year [1] - BPaaS solutions revenue was 860 million RMB, reflecting a 9.0% year-on-year growth [1] Strategic Initiatives - The company completed 300 butterfly city renovations, covering 1,688 projects, contributing 230 million RMB to gross profit [2] - The "elastic pricing" model successfully acquired 114 residential projects, generating an annualized saturated income of 670 million RMB, a year-on-year increase of 31.5% [2] - Revenue from related business with developers decreased to 6.5%, indicating a divergence between core business growth and developer-related revenue decline [2] Operational Efficiency - The company improved operational efficiency through technology, with the first batch of 6 AI employees officially starting work [2] - Administrative expenses were 890 million RMB, down by 77.37 million RMB year-on-year, representing a decrease of 8.0% [2]

值得关注的是，公司与开发商的关联业务收入占比进一步下降至6.5%，核心业务收益增幅与开发商业 务降幅开始呈现"剪刀差"，且核心净利润启动反弹。 报告期内，公司通过科技提效，后台职能组织效率持续提升，首批6名AI员工正式上岗，业绩期内行政 开支8.9亿元，同比下降7737万元，降幅达8.0%。 免责声明：本文内容与数据由观点根据公开信息整理，不构成投资建议，使用前请核实。 本文源自：观点网 8月18日，万物云（2602.HK）公布2025年中期业绩报告。报告显示，公司实现营业收入181.4亿元，同 比增长3.1%；毛利24.9亿元，同比增长3.8%；净利润8.4亿元，同比增长5.4%。核心净利润达13.2亿元， 同比增长10.8%。 截至报告期末，公司现金资产达114.6亿元，经营性净现金流同比增加20.5亿元，财务状况保持稳健。为 回馈股东，公司拟以人民币11.0亿元作为派付股息总额，用于2025年中期股息分红，年化股息率约 9%。 业绩期内，万物云四个核心业务板块实现收入增长。住宅物业服务收入达102.8亿元，同比增长10.4%， 业绩期内新增项目168个，累计合同项目达5178个；物业及设施管理服务收入5 ...

值得关注的是，公司与开发商的关联业务收入占比进一步下降至6.5%，核心业务收益增幅与开发商业 务降幅开始呈现"剪刀差"，且核心净利润启动反弹。 报告期内，公司通过科技提效，后台职能组织效率持续提升，首批6名AI员工正式上岗，业绩期内行政 开支8.9亿元，同比下降7737万元，降幅达8.0%。 8月18日，万物云(02602.HK)公布2025年中期业绩报告。报告显示，公司实现营业收入181.4亿元，同比 增长3.1%；毛利24.9亿元，同比增长3.8%；净利润8.4亿元，同比增长5.4%。核心净利润达13.2亿元，同 比增长10.8%。 业绩期内，万物云四个核心业务板块实现收入增长。住宅物业服务收入达102.8亿元，同比增长10.4%， 业绩期内新增项目168个，累计合同项目达5178个；物业及设施管理服务收入51.7亿元，同比增长 7.7%，新增项目291个，累计合同项目3284个；居住相关资产服务业务(租赁、买卖、维修、装修等)增 速最快，收入8.6亿元，同比大幅增长39.6%，朴邻新增门店89个，累计门店589个；BPaaS解决方案收入 8.6亿元，同比增长9.0%。 报告期内，公司完成300个蝶城改造 ...