Yuexiu Services' H1 revenue falls amid property sector slowdown

Yuexiu Services

24/08/2026 09:46

Overview
Hong Kong property manager's H1 revenue fell 2.4% yr/yr to RMB1.91 bln
Net income attributable to shareholders declined 6.6% yr/yr to RMB223.9 mln
Company proposed interim dividend of HKD0.103 per share for 2026

Outlook
Yuexiu Services expects to use RMB494.2 mln of unutilised IPO proceeds for strategic acquisitions and investments by end-2026

Result Drivers
PORTFOLIO OPTIMISATION - Co said it withdrew from underperforming projects, terminating contracts totalling 5.4 mln sq.m. to optimise its managed portfolio
COMMERCIAL FEE DECLINE - Co said average management fee for shopping malls fell to RMB26.4/sq.m./month from RMB31.4/sq.m./month yr/yr
AGENCY BUSINESS SLOWDOWN – Revenue from related parties fell 13.9% to RMB638 mln, mainly due to a shrinking agency-business scale amid the property sector slowdown

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
RMB 1.91 bln
 
H1 Net Income Attributable
 
RMB 223.9 mln
 

Analyst Coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "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 Yuexiu Services Group Ltd is HK$4.20, about 136.6% above its August 21 closing price of HK$1.78
The stock recently traded at 5 times the next 12-month earnings vs. a P/E of 5 three months ago

Reuters Recommended Reads
Aug 21 - China's Greentown Service H1 profit rises 15% on higher property services income
Aug 21 - Zhong An Group's H1 revenue plunges, posts net loss on lower property deliveries, sale prices
Aug 23 - China's property crisis grinds on after Evergrande sentencing

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Press Release s3://eap-prd-eu-west-1-source-content/eap_feed_proxy/fingerpost/HKSW/2026-08-24/9655a0a1-108b-4fac-87a2-b0d9cb502182.file
(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.)