<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/77aedf87-b80d-4d8f-b4aa-f8a677f9bb48.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/77aedf87-b80d-4d8f-b4aa-f8a677f9bb48.png"/>
After going through the most difficult moments, CG SERVICES is finally about to reach the shore.
On March 27, CG SERVICES (6098.HK) released its performance report for the year 2024. The financial report shows that in 2024, CG SERVICES achieved total revenue of 43.99 billion yuan, a year-on-year increase of 3.2%; profits remained stable with a rise, and the adjusted gross profit of the core business grew by 6.4% to 9.2 billion yuan, while net profit attributable to the parent company increased by 518.7% year-on-year to 1.8 billion yuan.
In this context, CG SERVICES plans to distribute a dividend of 990 million yuan for the entire year of 2024, exceeding 55% of the net profit attributable to the parent company for 2024, actively sharing operational results with shareholders, while also demonstrating the company's robust financial condition.
At the same time, in 2025, CG SERVICES plans to use no less than 500 million yuan for overseas repurchases or for its domestic subsidiaries to purchase company stock through trusts, which will also help further boost market confidence.
From the perspective of specific revenue performance, property management service revenue remains the foundation of CG SERVICES, with last year's revenue of approximately 25.9 billion yuan, a year-on-year increase of about 4.9%, further increasing its proportion of total revenue to 58.9%; community value-added service revenue was approximately 4.19 billion yuan, a year-on-year increase of 11.8%, raising its proportion of total revenue to 9.5%.
The core business of CG SERVICES, which includes property management services, community value-added services, and the &#34;three supplies and one industry&#34; business, saw an adjusted revenue growth of 10.2% year-on-year, while the revenue structure continued to optimize, with core business revenue accounting for 87% of total revenue.
In the context of the real estate industry entering a downward cycle in recent years, the &#34;independence&#34; of property management companies has become very important.
Reducing related party transaction services has also become an important task for CG SERVICES in the past two years.
CG SERVICES pointed out that in 2024, its related party risks were effectively controlled, with related party receivables reduced by 450 million yuan, and the proportion of sustainable third-party revenue continued to rise, reaching 98.9% in 2024, significantly enhancing business independence.
At the same time, CG SERVICES also places great importance on refined operations. Last year, CG SERVICES integrated artificial intelligence and Internet of Things (AIoT) technology deeply into business scenarios, building a collaborative ecosystem of &#34;cloud-based large models + terminal devices,&#34; which improved operational efficiency in 1,768 projects and increased owner satisfaction by 6 percentage points year-on-year.
CG SERVICES now maintains a healthy and stable cash flow, with net cash from operating activities of approximately 3.87 billion yuan last year. By the end of last year, the total amount of bank deposits and cash (including restricted bank deposits and time deposits) reached 18.18 billion yuan.
In addition, CG SERVICES' property management scale has steadily increased, with a managed area of approximately 1.04 billion square meters by the end of last year, excluding the &#34;three supplies and one industry&#34; business.
It is reported that through integrated marketing to promote prepayments, &#34;one household, one file&#34; precise services, and warehouse return campaigns, CG SERVICES' charging rate has continued to improve

06098

The total dividend for the year 2024 is 990 million yuan

- Country Garden Services reported a total revenue of 43.99 billion yuan for 2024, a 3.2% increase year-on-year, with a net profit growth of 518.7% to 1.8 billion yuan.  
- The company plans to allocate at least 500 million yuan for stock repurchases in 2025, aiming to boost market confidence.  
- With a focus on operational efficiency and reduced related-party transactions, the company enhanced its business independence, achieving a significant increase in cash flow and management scale.

CG SERVICES sees the dawn of hope