China Overseas Property Holdings Limited (COPL) reported FY 2025 revenue of RMB 14.96 billion, up 6.0% year-on-year, driven by an 8.0% expansion in managed gross floor area (GFA) to 477.6 million sq m. Profit attributable to ordinary shareholders fell 9.7% to RMB 1.37 billion, as gross margin narrowed to 15.0% from 16.6% and operating profit declined 9.5% to RMB 1.83 billion.
Property management services remained COPL’s core revenue pillar, contributing 78.4% of turnover and growing 9.1% to RMB 11.73 billion. Within value-added services, income from non-residential clients rose 6.1% to RMB 1.94 billion, while revenue from services to residents contracted 12.0% to RMB 1.22 billion amid softer consumer demand. Car-parking space trading revenue halved to RMB 72.44 million.
Cost pressures lifted direct operating expenses by 8.0% to RMB 12.71 billion, compressing profit margins; property-management gross margin slipped to 14.3% (2024: 15.9%). Average return on equity fell to 24.9% from 32.9% a year earlier.
COPL secured 90.9 million sq m of new contracts in 2025; 68.4% originated from non-residential projects—of which 49.5% related to urban-space services—and 85.1% came from independent third parties. Reflecting a focus on profitability, 55.6 million sq m of loss-making or expired projects were withdrawn. As of 31 December 2025, third-party projects accounted for 42.7% of total managed GFA, and non-residential exposure increased to 31.4%.
The balance sheet remained strong: cash and bank balances stood at RMB 6.27 billion against RMB 50.00 million in short-term bank borrowings, underpinning COPL’s net cash position. Net working capital amounted to RMB 5.20 billion.
The board proposed a final dividend of HK 10.0 cents per share, 5.3% above last year’s payout. Together with the HK 9.0 cents interim distribution, full-year ordinary dividends total HK 19.0 cents, up 5.6% year-on-year; shareholders will vote on the final dividend at the AGM scheduled for 17 June 2026, with payment slated for 15 July 2026.
Looking ahead, COPL plans to execute its “15th Five-Year Plan,” focusing on residential, non-residential and innovative value-added services, while enhancing operational efficiency and digital capabilities.