Listed property management companies have recently disclosed their 2025 half-year performance results, revealing clear differentiation in profitability and new business growth drivers. The strong companies, performance, and growth reflected in these reports demonstrate enterprises' multi-dimensional competition in service, quality, innovation, and technology, representing a comprehensive manifestation of truly understanding customer needs and continuously creating social value.

A heartwarming scene recently unfolded in a community managed by Greentown Service. Mr. Liu owns a three-bedroom apartment in Anji Angel Town that he rarely occupies. When friends from Suzhou unexpectedly visited, he simply instructed his property manager online: "Please help tidy up." When his friends opened the door, they were greeted not just by cool air conditioning, but by an unexpected sense of comfort and warmth: the room was neat and orderly, bamboo mats were polished bright, thin quilts were fluffy and soft from sun-drying, bottled water sat on the table alongside freshly boiled hot water, watermelons and fruits were chilled in the refrigerator, and a handwritten note with housing instructions was placed on the desk.

This vacation apartment charges a property management fee of 4.5 yuan per square meter per month and typically has a high vacancy rate, yet achieved over 80% fee collection in the first half of 2025, with 99% annual completion virtually assured.

This is not an isolated case. Since Greentown Service launched its "Deep Service" system in March this year, service warmth and precision have been elevated to unprecedented strategic heights. This microcosm reflects solid performance: Greentown Service's 2025 mid-year results show double-digit growth in core property service revenue, with diversified businesses growing rapidly through deep integration with core operations, and service value continuing to exceed expectations in capital markets.

**Strong Service Foundation Achieves Perfect Unity of Efficiency and Quality Enhancement**

On the morning of August 25, Greentown Service Group (2869.HK) held its 2025 mid-year results presentation in Hangzhou. Financial data showed period revenue of approximately 9.289 billion yuan, up 6.1% year-on-year, and net profit of approximately 613 million yuan, up 22.6% year-on-year.

During the reporting period, gross profit reached RMB 1.8081 billion, compared to RMB 1.661 billion in the same period of 2024, representing 8.9% year-on-year growth. Core operating profit reached RMB 1.0738 billion, up 25.3% from RMB 857 million in the same period of 2024.

These excellent results validate the corporate development philosophy that "without satisfaction there is no business, without value there is no appreciation." Yang Zhangfa, Chairman of Greentown Service Group Limited, stated at the 2025 mid-year results presentation that despite declining incremental residential development, existing residential stock and urban services continue to expand, with the industry still in an upward development phase and broad market space remaining. Those who can seize this time window will lead development in the new phase.

In the detailed mid-term report card, property services as the core business accounted for over 70% of revenue, reaching 6.63 billion yuan, up 10.2% year-on-year. This indicates that owners' willingness to pay for better property services also grew by double digits. This growth was achieved under conditions of "reduced upstream supply, increased intermediate demand, and rising downstream costs," demonstrating resilience and independent market performance.

Additionally, at the 2025 mid-year results presentation, Greentown Service explained how property services achieved double-digit growth through three supporting actions: first, launching the deep service system to further upgrade core business service standards; second, implementing the "Spring Breeze Action" with all managers working on the front lines directly facing owners and customers, bringing services closer and improving problem-solving efficiency and service experience; third, upgrading employee care systems to strengthen employee belonging and execution capability.

These improvements are evidenced by two micro-level indicators: Greentown security and property managers responded to 139 emergency rescue situations during the first half of the year, and a large state-owned property company executive, after carefully visiting Hangzhou Fengqi Chaoming, noted that after five years of management, it still looked newly delivered, representing the true value of property management.

**Quality-Focused Approach Connects Incremental and Existing Markets**

Greentown Service CEO Jin Keli stated at the results presentation that amid calls for price limits and reductions, the company insisted on adding value through services rather than subtracting through price cuts, delivering a quality-focused report card.

In the stock market period, Greentown Service invested heavily in refined operations, utilizing years of incubated comprehensive service products to add value to services. In the first half of 2025, Greentown Service took over service contracts covering more than 34 million square meters, with considerable immediate handover projects, many acquired at premium prices against market trends.

During the passing summer vacation, visitors to multiple communities managed by Greentown Service encountered heartwarming scenes. Under professional coaching in the "Dolphin Program" swimming classes, children splashed happily in the water; the "Magnolia Program" aimed at fire safety education provided children with valuable learning experiences; at dawn running tracks, the "Eagle Program" led children in running and fitness activities. As the school season approached, property managers began carefully inquiring in owner groups: "Do you have children starting elementary or middle school? We'd like to send new backpacks and school supplies" – this back-to-school greeting was affectionately called the "Zijin Program" by owners.

From "Dolphin" to "Magnolia," from "Eagle" to "Zijin," Greentown Service uses poetically named and solidly implemented services to extend property management from traditional "four guarantees" to full-cycle care accompanying owner families' growth. This represents not merely simple accumulation of summer activities, but reflects deep transformation in property management service philosophy: property management is no longer a cold administrator, but is becoming an important participant actively building community emotional connections and creating beautiful family life.

The mid-term report also shows that in business operations, Greentown Service's property management area reached 536.3 million square meters, up 11.3% year-on-year, with abundant reserve area providing a solid foundation for future growth. While community services revenue faced challenges, the overall business remained stable through service portfolio optimization and core ecosystem focus. Consulting services revenue grew 0.6% year-on-year, demonstrating Greentown Service's continued expansion capability in real estate full-lifecycle services.

In market expansion, Greentown Service successfully developed multiple quality projects by deeply cultivating core cities and focusing on key regions and property types, improving market share. Simultaneously, the company actively promoted digital transformation, using technology to enhance service efficiency and quality, further consolidating market position.

**Satisfaction Drives Healthcare and Early Education into New Tracks**

Community commerce was Greentown Service's first successful venture into new business tracks. This results presentation revealed that Greentown Service's community commerce continues profitability with encouraging consumption data: average household output increased 10% and comprehensive benefits rose 30%.

More remarkably in this half-year report, the "elderly and young" business segments incubated for years showed positive signals: early education enrollment rates and course sales both achieved double-digit growth, childcare revenue remained stable and achieved profitability for the first time. Some premium communities experienced full enrollment, while jointly-built inclusive childcare centers began expanding.

In eldercare, institutional care occupancy rates increased 17%, government home-based service station efficiency improved 18%, and home-based care and consulting products continued developing with rising per-capita service output. Meanwhile, integration between these two businesses and core property services deepened, with higher integration correlating with mutual improvement in both owner satisfaction and economic benefits for core business and "elderly and young" services. This brings great hope for eldercare and early education to pioneer new industry tracks.

**Envisioning Property Management's Future**

At the results presentation, Yang Zhangfa stated that Greentown Service has actively deployed foundational service infrastructure including large models, intelligent agents, and Internet of Things. Calculating current five-minute service response times, future infrastructure applications could achieve basic 30-second response, while floor-cleaning robots, drones, intelligent fire systems, and smart energy management applications would improve efficiency and precision by over 10 times.

Yang further noted that while the industry appears to face challenges, these actually compel industry transformation through differentiated service products. As long as service combinations identify demand points, service opportunities will emerge from multiple directions, transforming what was previously considered traditional into something imbued with new meaning.

He specifically cited operational cases of Hangzhou Jade Lake Park and Planet Farming, calling them "property + culture" models that attract continuous industry visitors and are becoming internet-famous destinations.

The interim announcement shows that in market expansion, Greentown Service successfully developed multiple quality projects by deeply cultivating core cities and focusing on key regions and property types, improving market share while actively promoting digital transformation and using technology to enhance service efficiency and quality, further consolidating market position.

Greentown Service will continue adhering to the philosophy that "service makes life better," focusing on customer needs to continuously optimize service quality and promote business innovation. "We will continue deepening national deployment, improving service density in key regions while strengthening risk management and compliance construction to ensure high-quality development," Yang stated. Facing industry transformation, the company will act strategically with long-term determination to achieve sustainable value creation, generating greater value for shareholders and society.