On August 27, China Merchants Property Operation & Service Co., Ltd. released its semi-annual report for 2025. During the reporting period, the company achieved operating revenue of 9.107 billion yuan, representing a year-over-year increase of 16.17%.
The property management business generated operating revenue of 8.8 billion yuan, up 16.79% compared to the same period last year. This growth was primarily driven by business expansion from existing property management projects, conversion of newly developed property management projects, and value-added services from specialized subsidiaries. The asset management business recorded operating revenue of 306 million yuan, an increase of 5.86% year-over-year, mainly due to additional commercial operating projects under management and increased business volume from previously acquired projects during the reporting period.
During the period, China Merchants Property Operation & Service Co., Ltd. achieved net profit attributable to listed company shareholders of 474 million yuan, up 8.90% year-over-year. Net profit attributable to listed company shareholders excluding non-recurring gains and losses reached 463 million yuan, representing an increase of 11.87% compared to the same period last year.
As of the end of the reporting period, total assets stood at 19.289 billion yuan, while net assets attributable to listed company shareholders totaled 10.633 billion yuan.
In the first half of 2025, the company's property management business secured new annual contracts worth 1.764 billion yuan, with third-party projects contributing 1.592 billion yuan in new annual contract value (projects valued at over 10 million yuan accounted for 58% of new annual contract signings).
As of the end of June 2025, China Merchants Property Operation & Service Co., Ltd. managed 2,370 projects covering a total area of 368 million square meters.
As of the end of June 2025, the company's subsidiary China Merchants Commercial Management managed 72 projects (including projects under preparation) with a total management area of 3.97 million square meters. This included 3 self-owned projects, 60 projects under trust management for China Merchants Shekou, and 9 third-party brand output projects.
In the first half of 2025, centralized commercial sales increased by 10.3% year-over-year, while foot traffic rose by 17.0% compared to the same period. The total membership base reached 7.408 million.
China Merchants Property Operation & Service Co., Ltd. holds properties across various formats including hotels, shopping centers, commercial spaces, and office buildings, with a total leasable area of 468,900 square meters. As of the end of June 2025, the overall occupancy rate stood at 93%.
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