Roiserv Lifestyle (2146.HK) Q2 2025 Earnings Report

Roiserv Lifestyle Services reported a robust QQ2 2025 with revenue of 505.93 million CNY, up 110.4% year-over-year, reflecting accelerated growth in a higher-activity period for China's property management and related services. Gross profit stood at 129.61 million CNY, yielding a gross margin of 25.62%, while operating income reached 61.75 million CNY and net income 44.70 million CNY, translating to operating and net margins of 12.21% and 8.84% respectively. EBITDA was 70.66 million CNY, with an EBITDA margin of 13.97%. Earnings per share (EPS) were 0.12 CNY on a diluted basis, supported by a weighted average share count of 372.49 million shares. The company exhibits a conservative balance sheet profile: total debt to capitalization is 0.97%, debt to equity 0.98%, and cash per share is 1.38 CNY. The current ratio stands at 1.94, quick ratio at 1.78, and cash ratio at 0.25, indicating solid short-term liquidity and limited financial leverage. Valuation metrics suggest Roiserv trades at a modest multiple framework: price-to-earnings around 1.31x, price-to-book about 0.21x, and price-to-sales near 0.46x, with an enterprise value multiple reported as negative, reflecting net cash on the balance sheet. The results demonstrate strong profitability and cash generation potential underpinned by a diversified service mix (property management, security, cleaning, greening, and maintenance) and growing value-added offerings such as community living services and procurement. The absence of an earnings call transcript in the data restricts direct management commentary; hence, the analysis relies on the reported numbers and historical quarterly trends. Given Roiserv’s minimal leverage and a large, growing Chinese property management market, the QQ2 2025 performance supports an optimistic view on recurring revenue growth and margin resilience, subject to real estate cycle dynamics and client portfolio expansion.