SCE Intelligent Commercial Management Holdings (SCE CM) released its audited results for the year ended 31 December 2025.

Financial Performance • Revenue dipped 1.70% year-on-year to RMB1.19 billion, reflecting softer contributions from commercial projects. • Gross profit fell 11.27% to RMB314.88 million; gross margin narrowed to 26.4% from 29.3%, pressured by lower-margin mix and a decline in high-margin value-added services. • Profit attributable to owners of the parent inched up 1.68% to RMB57.90 million. Basic and diluted EPS stood at RMB3.0 cents (2024: RMB2.9 cents). • Administrative expenses decreased 13.80% to RMB255.46 million, helped by lower staff costs and reduced impairment losses on trade receivables. • Income tax expense contracted 31.16% to RMB45.61 million, trimming the effective tax rate to 42.9% (2024: 53.2%).

Segment Highlights Commercial property management and operational services revenue declined 18.60% to RMB322.77 million amid the termination of several contracts; contracted GFA fell 13.2% to 3.90 million sq.m. and GFA under management slid 7.2% to 1.73 million sq.m.

Residential property management services remained the growth engine, with revenue up 6.60% to RMB869.97 million, supported by a 5.5% expansion in GFA under management to 34.28 million sq.m. Residential services now contribute 72.9% of total revenue, up from 67.3% a year earlier.

Cash Flow and Balance Sheet • Cash and cash equivalents rose 2.45% to RMB1.33 billion, providing ample liquidity. • The Group had no interest-bearing borrowings; gearing ratio remained at zero. • Total assets stood at RMB3.51 billion, with net assets at RMB2.77 billion. • A RMB803.61 million related-party loan, bearing 5.5% interest and maturing 31 December 2026, shifted to current assets during the year.

Operational Footprint Total contracted GFA reached 45.2 million sq.m., with 36.0 million sq.m. under management across five key economic zones: West Taiwan Strait, Yangtze River Delta, Bohai Rim, Guangdong-Hong Kong-Macao Greater Bay Area and Central Western Region. The portfolio comprises 31 contracted commercial properties and 210 contracted residential projects.

Management Outlook Management highlighted intensified competition in China’s retail landscape and underscored a strategy centred on localisation, data-driven operations, tenant mix optimisation and cost efficiency. For residential services, the Group intends to leverage its expanded footprint to drive scale efficiencies and enhance community value-added offerings.

Dividend The Board proposed no final dividend for FY2025, consistent with the prior year.

Corporate Matters The Annual General Meeting is scheduled for 28 May 2026, with the shareholders’ register closed from 22 May to 28 May 2026 (both days inclusive). The company confirmed compliance with the Hong Kong Listing Rules’ Corporate Governance Code and the Model Code for securities transactions by directors.