正荣服务（06958.HK）预计其中期业绩将出现恶化，背后原因直指物业管理费收缴率的持续走低，以及增值服务收入的大幅萎缩。
这家物业服务企业正面临来自多方的经营压力。一方面，基础物业管理服务的收缴率不容乐观，回款速度放缓直接削弱了公司的现金流表现；另一方面，曾被寄予厚望的增值服务板块也未能幸免，其收入贡献明显缩水，进一步加剧了整体盈利能力的下行风险。
在房地产市场深度调整的背景下，正荣服务的处境颇具代表性。业主缴费意愿下降、开发商关联业务减少，均对物管公司的日常运营构成严峻考验。市场分析人士指出，若上述趋势未能及时扭转，公司全年业绩或将持续承压。
值得注意的是，收缴率的下滑不仅影响当期利润，还可能引发后续的坏账计提风险。而增值服务收入的减少，则意味着公司在探索多元化盈利模式的道路上遭遇瓶颈。双重因素叠加，使得正荣服务的中期成绩单蒙上一层阴影。
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