China's A-Living Smart City H1 profit falls on segment decline, project exits
China's A-Living Smart City H1 profit falls on segment decline, project exits
Overview
China property management firm's H1 revenue fell 6.2% yr/yr
Net income attributable to shareholders declined 8.1% yr/yr for H1
Company declared interim dividend of RMB 0.05 per share
Outlook
Company says outlook for economic recovery remains uncertain amid geopolitical tensions
A-Living aims to develop a commercialized, market-oriented community-services model over the next three years through elderly-care services
Company says it is focusing on service quality and operational quality to address uncertainties
Result Drivers
SEGMENT REVENUE DECLINES - Revenue from all four major business segments fell, with property management services down 5.7%, property owners value-added services down 10.8%, city services down 5.7%, and extended value-added services down 27.2% yr/yr
PROJECT PORTFOLIO EXITS – Revenue fell 6.2% to RMB6.06 bln as A-Living phased out underperforming projects and contracted cyclical operations
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Revenue |
| RMB 6.06 bln |
|
H1 Net Income Attributable |
| RMB 316.80 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 2 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the real estate services peer group is "buy."
Wall Street's median 12-month price target for A-Living Smart City Services Co Ltd is HK$2.10, about 13.8% above its August 27 closing price of HK$1.85
The stock recently traded at 3 times the next 12-month earnings vs. a P/E of 4 three months ago
Reuters Recommended Reads
Aug 26 - China's Country Garden Services interim profit falls on impairment losses
Aug 25 - China's Redsun Services H1 profit drops amid weakness in real estate sector
Aug 25 - China's Poly Property Services H1 revenue rises 5.2% on property management services growth
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
Recent news on A-Living Smart City Services
See all newsChina's A-Living Smart City H1 profit falls on segment decline, project exits
Chairman
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