Country Garden Services rises on profit surge, share buyback

Country Garden Services Holdings

27/03/2025 06:45

** Shares of Country Garden Services 6098.HK rise 6.4% to HK$6.81, their highest since March 17, and on course for the second session of gain

** The Chinese property management services provider said its 2024 profit attributable up 518.7% y/y, revenue up 3.2% y/y

** Co proposes a final dividend of 0.1352 yuan and a special dividend of 0.1609 yuan per share compared to 2023's final dividend of 0.0219 yuan and special dividend of 0.2727 yuan

** Co plans to use existing available cash reserve of not less than 500 mln yuan ($68.8 mln) to repurchase shares in the open market within one year

** Hang Seng Mainland Properties Index .HSMPI rises 1.5%,  Hang Seng Index .HSI adds 0.9%

** Stock up 19.6% YTD

($1 = 7.2633 Chinese yuan renminbi)

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))