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2602 — Onewo News Story

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China's Onewo interim revenue rises

China's Onewo interim revenue rises 


Overview

  • China property management provider's interim revenue rose 5.4% yr/yr to RMB19.1 bln

  • Net profit attributable to shareholders fell yr/yr; EPS unchanged at RMB0.68

  • Company proposed interim dividend of RMB0.711 per share, totaling RMB820 mln


Outlook

  • Company did not provide specific financial guidance for the current or future periods in its press release


Result Drivers

  • SEGMENT PERFORMANCE - Revenue growth was driven by increases in community space living consumption services and commercial and urban space integrated services, while AIoT and BPaaS solution services declined

  • COST CONTROL - Administrative expenses fell by RMB43 mln and the expense ratio declined by 0.5 percentage point period to period


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

H1 Revenue

RMB 19.11 bln

H1 Net Income Attributable

RMB 781.6 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 4 "hold" and no "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 Onewo Inc is HK$21.20, about 18.6% above its August 13 closing price of HK$17.88

  • The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months ago


Reuters Recommended Reads

  • Aug 10 - China's Midea Real Estate interim revenue falls, hurt by real estate technology

  • Aug 11 - Hong Kong's Wharf Holdings H1 net profit falls due to lower dividend income

  • Aug 13 - UK property firm Savills's H1 profit jumps on North America strength; warns of uncertainty


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.)

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