Rongxin Services (02207) announced its 2023 results, with total revenue of approximately RMB 901 million, an increase of about...
According to the Zhitong Finance App, Rongxin Service (02207) announced its 2023 results. The total revenue was approximately RMB 901 million, an increase of about 2.8% over the previous year. Gross profit reached approximately $172.4 million, a year-on-year decrease of about 0.3%. Profit attributable to company owners was approximately RMB 10.7 million, a year-on-year decrease of about 31.4%. Earnings per share were $0.02.
According to the announcement, the increase in revenue is mainly due to an increase in revenue from property management services due to an increase in newly delivered projects; and an increase in community value-added service revenue due to the expansion of the home delivery business.
As of December 31, 2023, the group had 264 contract projects, with a total contracted construction area of about 40.4 million square meters. The number of projects under management is 230, and the total construction area under management reached about 34.7 million square meters, an increase of about 7.5% and 3.0% respectively over the end of 2022.