Hongyang Service (01971) announced results for the year ended December 31, 2023, with revenue of 1,064 billion yuan...
According to the Zhitong Finance App, Hongyang Service (01971) announced results for the year ended December 31, 2023, with revenue of 1,064 billion yuan (RMB, same below), down 3.6% year on year; profit attributable to parent company owners was 10.865 million yuan, down 88.2% year on year; basic profit per share was 0.03 yuan.
The year-on-year decline in the Group's revenue during the period was mainly due to a decrease in the Group's revenue from value-added services to non-owners. The Group's gross margin was 23.7%, up 0.5 percentage points from 23.2% in the same period in 2022, mainly due to the increase in gross margin of property management services and community value-added services.
On December 31, 2023, the number of projects under management by the Group was 298, and the contracted construction area was about 53.9 million square meters, of which the construction area under management was about 47.5 million square meters, an increase of about 5.8% over December 31, 2022.