New Hope Service Holdings (3658.HK) Q1 2025 Earnings Report

New Hope Service Holdings Limited posted robust year-over-year growth in QQ1 2025, with revenue of 369.91 million CNY, up 4.34% from QQ1 2024, and a solid gross margin of 31.6%. Operating income reached 76.13 million CNY and net income was 60.46 million CNY, translating to an EPS of 0.0743 CNY. Despite a modest sequential revenue decline of 4.14% versus Q4 2024 (seasonality and timing of project-based non-owner value-added services likely contributed to the pullback), the company delivered meaningful earnings leverage: EBITDA was 87.41 million CNY and EBITDAR margin stood at 23.63%. Net income margin registered at 16.34%, supported by disciplined cost control (SG&A of 39.00 million CNY and operating expenses of 40.71 million CNY) and a stable depreciation of 6.80 million CNY. The quarter reinforces a pattern of mid-teens net margins and double-digit EBITDA margins, underscoring the quality of New Hope’s property management and ancillary services platform amid a highly competitive Chinese Real Estate Services market.