First Service Holdings (02107) announced results for the year ended December 31, 2023, with revenue of approximately 12.1...
According to the Zhitong Finance App, First Service Holdings (02107) announced results for the year ended December 31, 2023, with revenue of approximately RMB 1,211 billion (RMB, same below), up about 7.9% year on year; profit attributable to equity shareholders of RMB 70.147 million, up 38.19% year on year; profit attributable to equity shareholders of RMB 57.127 million, up 38.19% year on year; profit per share of 0.0588 yuan, with a final dividend of HK4.20 cents per share.
As of December 31, 2023, the total construction area managed by the Group was about 63.2 million square meters, an increase of about 23% over the previous year, of which about 66.5% came from third parties. As of December 31, 2023, the Group's total contract construction area was about 77.9 million square meters, an increase of about 9.6% over the previous year, of which about 65.7% came from third parties.
For the year ended December 31, 2023, the Group achieved positive operating cash flow, with net cash generated from operating activities of about $93.4 million, a significant improvement over the same period last year.
In 2023, against the backdrop of a complex internal and external market environment and uncertain expectations, property service companies actively embraced market changes, adjusted business strategies, slowed growth expectations, returned to the essence of service, achieved orderly upgrading of the industry as a whole, and entered a new stage of “low speed and high quality” development. Relying on the potential for years of steady development, First Service Holdings uses quality service as a starting point to optimize operational quality; uses innovative entrepreneurs as the driving force to deepen diversified business layouts; and strengthens competitive advantages with the ability to serve all green life scenarios as the core. In 2023, First Service Holdings will achieve steady scale growth and further consolidate the foundation of sustainable development with the annual goal of “expanding scale, consolidating professionalism, and improving management”.