Yuexiu Services plans to add 9.8 million square meters of new contract area by 2025, with growth driven by non-residential sectors.

On March 26, Yuexiu Services (06626.HK) officially disclosed its full-year performance announcement for 2025. During the reporting period, the company achieved operating revenue of 3.902 billion yuan, with cash and time deposits reaching 4.906 billion yuan. Operating cash flow remained positively at 509 million yuan, and financial resilience firmly stayed at the forefront of the industry; at the same time, the annual dividend payout ratio increased to 60%, with a dividend of 0.11 yuan per share, rewarding shareholders’ trust with real returns.

Mr. Jiang Guoxiong (second from left), Non-Executive Director and Chairman of the Board of Yuexiu Services; Mr. Wang Jianhui (second from right), Executive Director and CEO; Mr. Zhang Chenghao (first from left), Executive Director and Executive Vice President; Ms. Li Huiting (first from right), Chief Financial Officer

01 Sustainable Positive Operating Cash Flow

During the reporting period, the company’s cash and time deposits reached 4.906 billion yuan, steadily growing compared to the end of 2024, positioning its financial strength among the industry’s top tier, providing ample “ammunition” for quality project expansion, core technology research and development, and business model innovation. Against the backdrop of cash flow pressure faced by some companies in the industry, the company achieved a sustained net inflow of operating cash flow of 509 million yuan through quality project structure, efficient collection management, and lean cost control, validating the sustainability of its business model and the reliability of its profitability quality. Regarding shareholder returns, the company decided to increase the dividend payout ratio from the previous 50% to 60%, with an annual dividend of 0.11 yuan per share, demonstrating its firm confidence in the company’s long-term value through concrete actions.

“Yuexiu Services’ ample cash reserves and continuously positive operating cash flow not only provide a solid guarantee for responding to industry fluctuations but also grant it strategic initiative,” said a senior analyst in the property industry. “During the industry’s adjustment period, a high dividend payout reflects the company’s responsibility towards shareholders and the management’s confidence in future operations, injecting stable expectations into the capital market. This dual performance of ‘financial safety net + shareholder return’ is particularly rare among listed property companies.”

02 Revitalizing Basic Services, Digital Intelligence Empowering Core Strength

In 2025, Yuexiu Services will center on “customer satisfaction,” deeply integrating digital intelligence empowerment with lean management. Through service standard iteration, scenario experience optimization, and quality control upgrades, the “quality at a reasonable price” concept will take root, keeping customer satisfaction and collection rates at high levels in the industry.

In the construction of standardized services, the company has iteratively upgraded to form a four-tier residential service standard system, clearly defining personnel configuration standards and operational models, and systematically carrying out the “Four Guarantees Advancement” special action, focusing on users’ core pain points to comprehensively enhance service quality. During the reporting period, customer satisfaction from third-party monthly surveys improved by 2.2 points compared to 2024, fully confirming the owners’ high recognition of service quality. The “Yue Rejuvenation” special action, jointly conducted with Yuexiu Property in 83 communities nationwide, has invested tens of millions, completing 228 quality upgrades, allowing homes to continue appreciating over time and further strengthening owners’ emotional bonds.

Yuexiu Services introduced the “523151 Lawn Maintenance Method,” achieving the goal of “280 days of green grass” in over 70 projects

The deep application of digital intelligence technology has become an “accelerator” for service quality improvement. The company has implemented a “soft and hard service integration” management model through an integrated command center, establishing an efficient operational system of “platform + endpoint.” The management cockpit realizes three-tier data visualization penetration for group, regional, and project levels, with 80% of indicators directly output; the EBA-FM system automatically collects core equipment data, achieving a closed-loop process of “real-time monitoring, second-level alerts, and automatic dispatching”; AI quality control technology comprehensively covers 209 projects, automatically identifying risks such as vehicles blocking roads, overflowing garbage, and electric bike illegal parking, upgrading quality control from “passive inspection” to “active protection.” Additionally, smart access has achieved 100% project coverage, reducing rider access time from 5 minutes to 45 seconds, significantly enhancing service convenience while ensuring community safety.

Yuexiu Services’ self-developed AI Edge Smart Brain product

“Our AI quality control system, from management software to data collection hardware to algorithm models, is all self-developed, saving about 3 million yuan in development costs compared to outsourcing, and more effectively avoiding external technology dependency risks, allowing technology to truly integrate into service details and enhance customer experience,” the management of Yuexiu Services stated. The continuous quality improvement of services and the deep integration of digital transformation are the core keys to the company’s ability to navigate the industry cycle and win customer trust, as well as a key focus during the “14th Five-Year Plan” period.

03 Breaking Through Diverse Tracks, Non-Residential Leading New Growth

Faced with increasingly fierce competition in the residential property market, Yuexiu Services actively adjusted its business structure, further enhancing the development potential of non-residential sectors while optimizing the layout of value-added services, establishing a diversified development pattern of “non-residential expansion and value-added quality improvement” to inject strong new momentum into the company’s growth.

The non-residential sector focuses on three major tracks: commercial office parks, large public buildings, and major transportation hubs, establishing a full-cycle management system of “precise screening—quality performance—efficient operation—strict exit.” The results of market expansion are remarkable. During the reporting period, the company added a contract area of 9.8 million square meters and signed 69 new projects; the annual contract amount for new city expansions was about 300 million, of which non-residential business accounted for 87%, fully breaking through niche sectors such as banks and universities, with comprehensive capabilities continually improving. In 2025, a series of high-value, multi-sector benchmark projects such as the Hong Kong Shipping Building, Nanjing Yangtze River Victory Memorial Museum, Jingyang Lake Innovation and Technology Park, and Tianjin West Station continued to land, further solidifying the company’s market position in the non-residential field. In the property service project of the Hong Kong-Zhuhai-Macao Bridge Authority, the company provided logistical support such as equipment inspection, environmental maintenance, and safety guarding for the cross-border cycling event during the National Games, safeguarding national events with professional services; Guangzhou Baiyun Station, as “Asia’s largest TOD integrated transport hub,” saw the company take over 410,000 square meters of service area, serving about 45 million passengers annually, creating a benchmark for service in the major transportation sector through refined cleaning, full-cycle operation, and one-stop attentive service. By the end of 2025, the managed area of non-residential sectors had reached 37%.

The management of Yuexiu Services stated, “The non-residential sector is the core development direction for our ‘14th Five-Year Plan.’ We will focus on tracks with strong creditworthiness, strong payment capabilities, and high strategic alignment, deepening in strategic cities while establishing a strict project exit mechanism to ensure profitability and high collection rates for all projects entered, achieving simultaneous improvement in scale and quality.”

In community value-added services, annual revenue reached 963 million yuan, focusing on three dimensions: “upgrading product services, innovating business models, and strengthening front-line connections,” continuously promoting platform transformation. In 2025, the “Yue + LIFE” integrated format store successfully launched operations, creating a one-stop living service scenario with a diversified model of “real estate rental and sales + coffee + home goods.” Additionally, the first external expansion project of the cultural, business, and tourism sector, Wuxi Longtingli, opened with a leasing rate of 82%, marking an important step towards “high-quality development from property management to operations.”

As the industry shifts from “incremental dividends” to “stock competition,” Yuexiu Services’ choices are quite exemplary: not chasing superficial scale figures, but rather using financial health as a baseline, service quality as the core, and technology empowerment as leverage, continuously accumulating long-term momentum. As analysts say: “This courage to ‘do subtraction’ and the determination to ‘do addition’ are precisely the most scarce abilities for enterprises during deep industry adjustments.”

(Author: Dong Yingxie HO013)

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