China's Shimao Services swings to interim net loss as revenue falls

Shimao Services Holdings

28/08/2026 09:44

Overview
China property management firm's interim revenue fell 7.4% yr/yr for six months ended June 2026
Net loss attributable to equity holders was RMB106.2 mln, compared to a profit last year
Gross profit dropped 36.2% yr/yr, reflecting lower margins

Outlook
Liaoning Qisheng partners extend the sewage-treatment project capital-contribution deadline to 31 Dec. 2026
Shimao Services extends the expected timeline to use remaining listing and top-up placing proceeds to 2026

Result Drivers
PROPERTY MANAGEMENT REVENUE DROP - Revenue from property management services fell 9.0% yr/yr, weighing on overall results
LOWER GROSS MARGINS - Gross profit declined 36.2% yr/yr, reflecting lower margins

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Net Loss Attributable
 
RMB 106.20 mln
 

Analyst Coverage
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 27 - China's Zhenro Services H1 revenue falls after property exits
Aug 27 - China's Sino-Ocean Service H1 loss narrows due to smaller impairment provisions
Aug 25 - China's Redsun Services H1 profit drops amid weakness in real estate sector

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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.)