Revenue and profitability overview:
- Revenue: 3,232,675,000 CNY; YoY change: -7.94%; QoQ change: -5.54%. Commentary: Top-line contraction reflects ongoing real estate market softness in China and mix shifts within services.
- Gross Profit: 469,635,000 CNY; Gross Margin: 14.53%; YoY: -21.30%; QoQ: +5.45%. Commentary: Margin compression versus prior year, but a notable QoQ rebound driven by favorable product/service mix and cost discipline in direct services.
- EBITDA: 425,484,000 CNY; EBITDA Margin: 13.16%.
- Operating Income: 293,569,500 CNY; Operating Margin: 9.08%; YoY: +128.77%; QoQ: +140.43%. Commentary: Strong operating leverage despite revenue decline, signaling effective cost control and scale efficiencies.
- Net Income: 175,149,000 CNY; Net Margin: 5.42%; YoY: +121.44%; QoQ: +121.40%. Commentary: Positive bottom-line trajectory supported by favorable tax and other income lines, plus disciplined spending.
- EPS: 0.12 CNY; YoY: +120.69%; QoQ: +120.69%.
- Depreciation & Amortization: 85,600,000 CNY.
- Pre-tax income: 295,363,000 CNY; Income tax expense: 71,246,500 CNY; Effective tax rate ~24.1%.