Dexin Services Group Limited reported QQ1 2025 revenue of 221.50 million CNY, a year-over-year decline of 10.97% and a quarter-over-quarter decline of 6.39%. Despite top-line softness, the company delivered a solid improvement in profitability metrics, with gross margin of 21.31% and operating margin of 10.64%, contributing to an EBIT of 23.56 million and a net income of 17.07 million. EBITDA stood at 26.99 million, yielding an EBITDA margin of 12.19%. Diluted earnings per share were 0.0193 CNY on an 882.6 million share base. The notable swing in net income YoY (reported as a substantial positive move) suggests potential one-off effects, improved cost discipline, or mix changes in services. Management commentary (where available) should focus on factors influencing contract wins, pricing discipline, smart community initiatives, and regional exposure to Zhejiang properties. Near-term risk factors include a slower real estate cycle in China, competition for contracted property management services, and potential cost fluctuations in labor and maintenance. Investors should monitor any further quarterly cadence data (Q2–Q4) and HKEX filings for balance sheet strength and cash flow trends.