Executive Summary
New Hope Service Holdings Limited reported QQ4 2024 revenue of 385,866,500 CNY, up 16.8% year over year, with gross profit of 108,854,500 CNY and a gross margin of 28.2%. Operating income stood at 73,767,000 CNY (operating margin 19.12%), resulting in net income of 54,325,000 CNY (net margin 14.08%) and EPS of 0.0667 CNY. The company posted EBITDA of 77,175,000 CNY, contributing to an EBITDARatio of approximately 20.00%. The result represents disciplined profitability against a backdrop of steady revenue growth, driven by scale gains in property management and related services.
Financial position remains exceptionally strong: total assets of 2.084 billion CNY contrasted by total liabilities of 756.3 million CNY yields equity of 1.246 billion CNY. The balance sheet shows a robust liquidity profile with cash and cash equivalents of 1.057 billion CNY and a current ratio of 2.29, alongside a net debt position of -980.4 million CNY (net cash), underscoring substantial financial flexibility to pursue growth initiatives or selective tuck-in acquisitions. Earnings quality is reinforced by a modest leverage footprint (total debt to capitalization around 5.85%) and a high cash conversion framework, albeit with a relatively high days sales outstanding (DSO) of about 105 days.
Overall, the QQ4 2024 print supports an affirmative investment stance: steady growth in revenue and earnings, resilient margins, and a strong balance sheet position the company well within the China Real Estate Services peer group for potential consolidation, geographic expansion, or service-line diversification. Investors should monitor any incremental capex plans, potential non-owner value-added service expansion, and broader Chinese real estate market cycles that could influence demand for property and community services.
Key Performance Indicators
Key Insights
Revenue: 385,866,500 CNY (YoY +16.8%, QoQ +0.0% as per quarterly YoY/QoQ context)
Gross Profit: 108,854,500 CNY (Gross margin 28.21%)
Operating Income: 73,767,000 CNY (Operating margin 19.12%)
Net Income: 54,325,000 CNY (Net margin 14.08%)
EPS: 0.0667 CNY, Diluted 0.0667 CNY
EBITDA: 77,175,000 CNY (EBITDA margin ~20.00%)
Net Income / Revenue YoY: +3.02%
Revenue CAGR (4Q4 2024 vs prior-year period): +16.76%
Weighted Average Shares: 814,126,004
Cash and Equivalents: 1,057,754,000 CNY
Total Assets:...
Financial Highlights
Revenue: 385,866,500 CNY (YoY +16.8%, QoQ +0.0% as per quarterly YoY/QoQ context)
Gross Profit: 108,854,500 CNY (Gross margin 28.21%)
Operating Income: 73,767,000 CNY (Operating margin 19.12%)
Net Income: 54,325,000 CNY (Net margin 14.08%)
EPS: 0.0667 CNY, Diluted 0.0667 CNY
EBITDA: 77,175,000 CNY (EBITDA margin ~20.00%)
Net Income / Revenue YoY: +3.02%
Revenue CAGR (4Q4 2024 vs prior-year period): +16.76%
Weighted Average Shares: 814,126,004
Cash and Equivalents: 1,057,754,000 CNY
Total Assets: 2,084,645,000 CNY
Total Liabilities: 756,348,000 CNY
Total Equity: 1,245,655,000 CNY
Current Ratio: 2.29x
Debt to Capitalization: 5.85%
Debt to Equity: 0.062
Cash Conversion Cycle: ~35.56 days (operating cash flow indicators less explicit in cash flow data)
DSO: ~104.7 days
Asset Turnover: ~0.185x
P/B: 1.22x; P/S: 3.92x; P/E: 6.97x
EV/EBITDA: 6.91x
Notes: QoQ revenue and profit metrics were flat to marginally up given the inputs; cash-rich position provides optionality for growth strategies.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
385.87M |
16.76% |
0.00% |
| Gross Profit |
108.85M |
1.73% |
0.00% |
| Operating Income |
73.77M |
11.08% |
0.00% |
| Net Income |
54.33M |
3.02% |
0.00% |
| EPS |
0.07 |
2.93% |
0.00% |
Key Financial Ratios
operatingProfitMargin
19.1%
Management Commentary
No earnings call transcript provided in the source data. As a result, management quotes or thematic takeaways from a QQ4 2024 earnings call are not available. If a transcript becomes available, we will extract themes by: (1) strategy and growth initiatives (service-line expansion, geographic reach, asset-light models); (2) operations (cost controls, service mix shifts, utilization of capex); (3) market conditions (macro real estate cycles, regulatory milieu affecting property services demand); (4) guidance or commitments (any revenue/ margin targets, capital allocation plans).
Forward Guidance
There is no explicit management guidance disclosed in the provided data for QQ4 2024. Given the strong cash position and modest leverage, the company has the financial flexibility to pursue growth through organic expansion of property management and non-owner value-added services, and potentially selective acquisitions or partnerships in China’s Real Estate Services space. Near-term outlook should consider: (a) stabilizing property market dynamics and demand for community living services; (b) potential regulatory shifts affecting property management margins; (c) competition from peers and price competition in service offerings; (d) macroeconomic conditions and urbanization trends in China that support continued outsourcing of property services. Monitoring indicators for investors include: quarterly revenue growth trajectories, margin discipline (gross and operating margins), cash generation and working capital dynamics, and any disclosed capex or M&A activity.