ALiving Smart City (3319.HK) Q3 2024 Earnings Report

ALiving Smart City Services reported QQ3 2024 revenue of 3,422,306,500 CNY, down 11.62% year over year (YoY) and 2.53% quarter over quarter (QoQ), with gross profit of 445,374,000 CNY and a gross margin of 13.01%. The quarter showed notable margin compression as operating income declined to -726,154,500 CNY and EBITDA came in at -1,858,389,000 CNY, resulting in a net loss of -818,264,500 CNY and basic earnings per share (EPS) of -0.58. The results reflect a challenging environment for the company’s core property management and related services, combined with a sizable other expense line of 934,332,000 CNY that weighed on profitability. YoY earnings deterioration is pronounced, with net income down 332.86% YoY, while QoQ progression remained largely negative on the bottom line (net income QoQ -0.14%).