Business
New Hope Service Announces 2024 Annual Results
New Hope Service Announces 2024 Annual
About this update from New Hope Service Holdings Limited
[{"type":"text","content":"HONG KONG, Mar 25, 2025 - (ACN Newswire) - - New Hope Service Holdings Limited ('New Hope Service' or the 'Group', SEHK stock code: 3658.HK) announces its annual results for the year ended 31 December 2024.During the year, the Group recorded revenue of approximately RMB1,480.8 million, representing an increase of 17.5% compared with 2023. Gross profit was RMB450.0 million with a gross profit margin of 30.4%, while the profit attributable to the equity shareholders of the Company for the Reporting Period was RMB226.8 million, representing an increase of 5.5% compared with 2023; The management fee rate decreasing by 3.9 percentage points to 9.5% as compared with the same period last year. The Board recommended to declare a final dividend of RMB0.076 per Share for the year ended 31 December 2024. Together with the interim dividend declared for the six months ended 30 June 2024, the total dividend for the year of 2024 is RMB0.159 per Share, and the full-year dividend payout ratio is 60%, demonstrating the Group's robust financial position and commitment to shareholder returns.For the year ended 31 December 2024, the Group had 256 contracted projects with contracted GFA of 39.0 million sq.m; The Group had 242 projects under management with the GFA under management of approximately 35.1 million sq.m.. Moreover, the Group completed the contracted amount of RMB605 million, representing an increase of 192% over the same period last year, with the contract amount derived from strategic cooperation amounting to RMB215 million in 2024, representing an increase of 169% over the same period last year, thereby providing a strong support for future development.Regional Deepening Strategy Drives Core RevenueFor the year ended 31 December 2024, 95.8% of the Group's revenue from property management was from the projects under management in first-tier, new first-tier and second-tier cities in China. Revenue from new first-tier cities surged 44.9%, while second-tier cities grew 23.2%, further enhanced the company's profitability.In terms of the strategy of deploying in high-tier cities, the Group is further deepening presence in the Southwestern and Eastern China regions, these two regions collectively contributed 83.0% of total property management revenue (RMB695.0 million) and 83.9% of total managed GFA (29.46 million sq.m.). In particular, the Gr...