The Zhitong Finance App learned that Shimao Services (00873) rose more than 13% in the afternoon. As of press release, it rose 10.07% to HK$1.53, with a turnover of HK$27.123,900.
According to the news, Damo recently released a research report saying that after the property management industry announced its interim results, the market has refocused its focus on the company's core business operations and cash flow performance. It is expected that after decoupling from the parent company or associated developers, property management companies' profits will improve and receive a review of valuations.
Orient Securities recently said that in the first half of the year, Shimao Services's basic property service revenue reached 2.61 billion yuan, an increase of 11.5% over the previous year. The main driving force for growth was the continuous expansion of management area managed by third parties. In addition, the company's cash flow improved markedly in the first half of the year. Net cash inflow from operating activities was 350 million yuan, a rapid and sharp increase of 2.75 billion yuan over the previous year. The net cash ratio reached 1.7 billion yuan, and the quality of operations improved.