The Zhitong Finance App learned that on August 26, Kang Qiaoyue Life (02205) announced the 2026 interim results. Against the backdrop of deep industry adjustments and increased market competition, the company achieved steady growth in various indicators such as revenue, gross profit, and scale, demonstrating the company's operational resilience and long-term growth potential through the cycle.
On the financial side, in the first half of 2026, the company achieved revenue of about 470 million yuan, an increase of 3.2% year on year; gross profit of about 106 million yuan, up 8.0% year on year. The gross profit growth rate outperformed the revenue growth rate. Net profit for the period and net profit attributable to mother were about 38 million yuan and 29 million yuan respectively. Although the decline was phased from the same period last year, gross margin bucked the trend and increased by 1 percentage point to 22.6%. This shows that the company's cost reduction measures in energy saving transformation and smart operation have begun to be implemented, effectively hedging the pressure on the cost side, and the profit structure is gradually being optimized.
In terms of scale, as of June 30, 2026, the company's contract area was about 70 million square meters, and the management area was about 47.9 million square meters, an increase of 2.4% and 3.7%, respectively, over the previous year. The company's management area growth rate is higher than the contract area growth rate, and the conversion efficiency of stock projects is steadily improving; according to Kerry Property Management data, the average management ratio of listed property enterprise contracts in 2025 was 1.2, while the company's index was 1.46, which is superior to the industry average, and there is plenty of room for subsequent stock conversion.
It is worth noting that during the reporting period, third parties accounted for 82.0% and 78.2% of the company's contract area and management area, respectively, and remained at the forefront of the industry for many years. The highly market-based business structure enabled the company to maintain independent customer acquisition and independent operation capabilities during the industry adjustment period, providing greater flexibility and risk-resistant support for subsequent expansion.