Jinwu Financial News | According to the Zhongtai Securities Research Report, Country Garden Services (06098) issued an interim results announcement for 2024; the company achieved main business revenue of 21.046 billion, +1.5% year over year, net profit 1.44 billion, or -38.7% year on year; core net profit of 1.84 billion yuan, or -31.7% year on year. The company's core basic property management services have remained stable, the 'three supplies and one industry' business segment is growing rapidly, and overall revenue is progressing steadily.

According to the bank, the company's revenue continued to grow in the first half of 2024, but gross margin declined, and operating cash flow and accounts receivable were not as good as in the same period last year. Considering that the real estate industry is still in the adjustment period, competition in the property industry has not abated, and the company's balance sheet and gross margin need to be further optimized and improved. The bank adjusted the company's 2024-2026 EPS forecast to 0.41, 0.49, and 0.55 yuan/share (previous values 0.58, 0.67, 0.73 yuan/share) and downgraded it to an “increase in holdings” rating.