New Hope Service (3658.HK) boosts 2024 revenue by 17.5%

New Hope Service Holdings Limited (3658.HK) today announced its annual results for the year ended December 31, 2024, reporting revenue of RMB 1,480.8 million, a 17.5% increase compared to RMB 1,260.7 million in 2023. Profit attributable to equity shareholders reached RMB 226.8 million, a 5.5% rise. Property management services led the way, contributing RMB 837.5 million, up 29.4%, while lifestyle services increased 22.4% to RMB 355.6 million. Commercial operational services saw a slight decrease, while value-added services to non-property owners also declined. The company's gross profit stood at RMB 450.0 million, a 2.2% increase. The Board recommended a final dividend of RMB 0.076 per share, bringing the total dividend for 2024 to RMB 0.159 per share. As of December 31, 2024, the Group managed 242 properties with a total GFA of 35.1 million sq.m. Looking ahead, New Hope Service aims to deepen its regional penetration and strategic "property +" initiatives.