萬物雲(02602.HK)中期業績:收入、利潤穩健增長,管理費下降8%
8月18日,萬物雲(02602.HK)公佈2025年中期業績報告。報告顯示,公司實現營業收入181.4億元,同比增長3.1%;毛利24.9億元,同比增長3.8%;淨利潤8.4億元,同比增長5.4%。核心淨利潤達13.2億元,同比增長10.8%。
截至報告期末,公司現金資產達114.6億元,經營性淨現金流同比增加20.5億元,財務狀況保持穩健。爲回饋股東,公司擬以人民幣11.0億元作爲派付股息總額,用於2025年中期股息分紅,年化股息率約9%。
業績期內,萬物雲四個核心業務板塊實現收入增長。住宅物業服務收入達102.8億元,同比增長10.4%,業績期內新增項目168個,累計合同項目達5178個;物業及設施管理服務收入51.7億元,同比增長7.7%,新增項目291個,累計合同項目3284個;居住相關資產服務業務(租賃、買賣、維修、裝修等)增速最快,收入8.6億元,同比大幅增長39.6%,樸鄰新增門店89個,累計門店589個;BPaaS解決方案收入8.6億元,同比增長9.0%。
報告期內,公司完成300個蝶城改造,覆蓋項目數達1688個,佔在管項目總數的38.3%。這一戰略舉措帶來2.3億元的毛利貢獻。同時,"彈性定價"模式在存量市場取得顯著成效,期內成功獲取114個住宅項目,帶來6.7億元的年化飽和收入,同比增長31.5%。
值得關注的是,公司與開發商的關聯業務收入佔比進一步下降至6.5%,核心業務收益增幅與開發商業務降幅開始呈現"剪刀差",且核心淨利潤啓動反彈。
報告期內,公司通過科技提效,後臺職能組織效率持續提升,首批6名AI員工正式上崗,業績期內行政開支8.9億元,同比下降7737萬元,降幅達8.0%。
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