China's Hevol Services H1 revenue falls amid property management weakness

Hevol Services

28/08/2026 15:21

Overview
China property manager's H1 revenue fell 11.7% yr/yr to RMB619.5 mln
Gross profit for H1 dropped 20.2% yr/yr to RMB142.9 mln
Profit after tax for H1 declined 13.5% to RMB12.2 mln

Outlook
Company did not provide specific financial guidance or outlook for future periods in the press release

Result Drivers
2025 DISPOSALS – Property-management revenue fell RMB51.7 mln as the 2025 disposals cut revenue by RMB53.2 mln, offsetting new-project expansion
 
COMMUNITY SERVICES DECLINE – Revenue fell RMB24.5 mln as leasing, brokerage, furnishing, decoration and other diversified services declined
 
PROJECT EXPANSION COSTS – Gross margin fell to 23.1% from 25.5% due to upfront new-project investment, repair costs and higher utilities at public-building projects
REDUCED GFA UNDER MANAGEMENT - Co said total gross floor area under management fell 0.4% yr/yr, contributing to lower revenue

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
RMB 619.5 mln
 

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(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.)