HONG KONG, Mar 25, 2025 - (ACN Newswire) - New Hope Service Holdings Limited (“New Hope Service” or the “Group”, SEHK stock code: 3658.HK) announces its annual results for the year ended 31 December 2024.

During the year, the Group recorded revenue of approximately RMB1,480.8 million, representing an increase of 17.5% compared with 2023. Gross profit was RMB450.0 million with a gross profit margin of 30.4%, while the profit attributable to the equity shareholders of the Company for the Reporting Period was RMB226.8 million, representing an increase of 5.5% compared with 2023; The management fee rate decreasing by 3.9 percentage points to 9.5% as compared with the same period last year. The Board recommended to declare a final dividend of RMB0.076 per Share for the year ended 31 December 2024. Together with the interim dividend declared for the six months ended 30 June 2024, the total dividend for the year of 2024 is RMB0.159 per Share, and the full-year dividend payout ratio is 60%, demonstrating the Group’s robust financial position and commitment to shareholder returns.

For the year ended 31 December 2024, the Group had 256 contracted projects with contracted GFA of 39.0 million sq.m; The Group had 242 projects under management with the GFA under management of approximately 35.1 million sq.m.. Moreover, the Group completed the contracted amount of RMB605 million, representing an increase of 192% over the same period last year, with the contract amount derived from strategic cooperation amounting to RMB215 million in 2024, representing an increase of 169% over the same period last year, thereby providing a strong support for future development.

Regional Deepening Strategy Drives Core Revenue

For the year ended 31 December 2024, 95.8% of the Group’s revenue from property management was from the projects under management in first-tier, new first-tier and second-tier cities in China. Revenue from new first-tier cities surged 44.9%, while second-tier cities grew 23.2%, further enhanced the company's profitability.

In terms of the strategy of deploying in high-tier cities, the Group is further deepening presence in the Southwestern and Eastern China regions, these two regions collectively contributed 83.0% of total property management revenue (RMB695.0 million) and 83.9% of total managed GFA (29.46 million sq.m.). In particular, the Group’s aggregate revenue in Chengdu, Kunming and Wenzhou accounted for 62.2% of the total revenue, achieved high - quality operations through service density. Notably, the Group continued to exert great efforts in the financial industry, from serving more than 300 outlets of 6 banks in Yunnan to expand to the whole nation, such as the Wenjiang Branch and Shuangliu Branch of China Construction Bank in Chengdu.

“Property +“ Fueling High-Quality Growth

In recent years, relying on the "Property +" model, the Group placed emphasis on adhering to “asset value appreciation and maintenance” and “care-free and wonderful life”, through the extension of diverse scenarios and the coordination of resources, deeply explore customer needs, boost external growth and achieve continuous profit creation for individual projects.

In terms of “property + commerce”, as an important profit unit, while the Group focuses on maintaining the occupancy rate and collection rate, with its excellent property + commercial operation capabilities, took the first step in community asset cooperation with the property + commercial project of Lantingji. During the Year, the Group successfully formed strategic cooperation with Jianxingli, in terms of industry introduction, commercial operation, asset management, and the standardized construction of high - quality office spaces, refined the “big industry” system of the building economy. Additionally, projects like Zhong Cheng Boyue Mansion and Shiguanghui have been successfully launched.

Backed by the Fortune Global 500 New Hope Group and by relying on its advantages in supply chain system, brand reputation and product categories, the Group built a corporate service system, enhanced the marketization capability of the "Property + Lifestyle" model, with the bid winning rate reaching 54.5%, successfully won bids such as the Spring Festival welfare project of Minsheng Bank, the gift box project of Industrial and Commercial Bank of China, the labor union welfare project of China Copper Group.

The Group vigorously expanded the B-end customers for corporate retail, in terms of group-on meals, acquired the projects of the Yunnan Branch of Postal Savings Bank of China and Guangxi Beibu Gulf Bank, and successfully the group-on meal project of Sichuan Electromechanical Institute of Vocation and Technology.

With the "Outward Expansion and Vertical Deepening" of core businesses, the Group further optimized its revenue structure in 2024. "Property + Lifestyle + Commercial Operations" contributed 90% of total revenue, reinforcing operational resilience

Three Strategic Pillars for Sustainable Growth

Looking forward to the future, New Hope Service will continue to keep driven by high goals, optimize the market layout, further explore potential customer groups, ensure service quality and customer satisfaction; further deepen the value of “property +”, strengthen synergies across commercial operations, group catering services, and lifestyle scenarios, create more revenue drivers for the Group. Meanwhile, continue to deepen refined digital operation and keep cultivating cost and efficiency advantages, transforming cyclical resilience into long-term growth momentum. New Hope Service also look forward to achieving long-term steady development under three strategic pillars of " Keeping driven by high goals, Deepening the value of 'Property +', and Refining digital operation," thereby consistently delivering on value commitments to shareholders and customers.

About New Hope Service

New Hope service (3658.HK) is a local Sichuan integrated property management enterprise engaging in the provision of lifestyle service solutions with a leading position in the Western China region and strategic cultivation in Chengdu. Backed by New Hope Group Co., Ltd.* and its subsidiaries, a member of Fortune Global 500, the Group placed emphasis on adhering to “asset value appreciation and maintenance” and “care-free and wonderful life”, and provided building block services such as property management services, lifestyle services and commercial operational services for middle-to-high-end residences, corporate headquarters, medical institutions, commercial office buildings, government public facilities, financial institutions and various types of properties. As of 31 December 2024, the Group was awarded the “TOP 18 Property Management Companies in China in terms of Overall Strength” by EH Property (up by 4 from last year), the "No. 19 among China’s Top 100 Property Management Companies” by CRIC and CPMRI (up by 3 from last year), and was selected for the “2024 China’s New Growth — List of Agile Teams” by the Chinese version of Harvard Business Review.

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https://www.newhopeservice.com.cn

For enquiry, please contact:

Financial PR (HK) Limited
Tim Yue/ Hulk Liu/Lucy Liu
Tel: (852)2610 0846
Fax: (852)2610 0842

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