Country Garden Services Performance Forecast: Last year's revenue exceeded 48 billion yuan

Leading property management company Country Garden Services released its 2025 earnings forecast on February 27, with several key metrics showing steady performance. The company’s revenue last year is expected to reach between 48.2 billion and 48.5 billion yuan, a year-over-year increase of approximately 10%. It holds bank deposits and structured deposits totaling no less than 17.7 billion yuan, with a full-year operating cash flow net of no less than 2.4 billion yuan, maintaining a healthy level amid widespread cash flow pressures in the industry.

Looking at the revenue structure, the company’s dependence on affiliated real estate companies continues to decrease. In the first half of 2025, related-party revenue accounted for only 1.1%. Core businesses such as property management services and community value-added services have become the main growth drivers. The full-year gross profit is expected to reach 8.2 billion to 8.7 billion yuan, roughly the same as the previous year.

Due to proactive strategic adjustments, the company’s net profit faces short-term pressure. As some clients of its ManGuo Environmental segment have extended their payment cycles, the company has proactively scaled back this business and recognized goodwill impairment of 969.89 million yuan. Additionally, it has cleaned up long-aged receivables. The full-year net profit is estimated to be between 450 million and 650 million yuan. However, the announcement emphasizes that goodwill impairment is a non-cash item and does not affect the company’s daily operations or cash flow. Excluding this factor, the core net profit attributable to shareholders still reaches 2.4 billion to 2.7 billion yuan.

With ample cash flow, the company is committed to rewarding shareholders with real cash. It plans to distribute dividends amounting to 60% of the core net profit attributable to shareholders, with a payout target of no less than 1.5 billion yuan in 2026. Additionally, the company has invested over 500 million yuan in the open market to repurchase nearly 88 million shares. Multiple institutions have stated that the company’s strong cash flow and increased shareholder returns make it an attractive investment.

Southern+ Reporter Zhou Zhongyu

【Author】 Zhou Zhongyu

【Source】 Southern Media Group Southern+ Client