BRIEF: Jiayuan Services moves toward trading resumption with interim, annual results release

1153.HK

Property manager Jiayuan Service Holdings Co. Ltd. (1153.HK) on Thursday announced its results for all 2022 and 2023, and the first half of 2024, fulfilling several requirements before its shares can resume trading. The company reported full-year losses of 660 million yuan ($91 million) in 2022 and 80.91 million yuan in 2023.

It reported a profit of 63.18 million yuan for the first half of this year, which was similar to last year. Its revenue during the six-month period totaled 434 million yuan, down 1.7% year-on-year, mainly due to a decline in revenue from value-added services to property developers and community value-added services.

Trading in Jiayuan’s shares was suspended in March last year due to delays in announcing its results and other issues, and have not resumed trading since then. In September, a receiver sold 73.56% of the company’s shares to Valiable Capital for HK$99 million, thereby paying off part of the company’s debt to Valuable Capital.

By Lau Chi Hang

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