Fineland Living Services Group Limited reported a consolidated net loss of RMB 71.46 million for the year ended 31 December 2025, trimming the prior year’s shortfall of RMB 79.33 million. The smaller loss was driven chiefly by a 26.0% year-on-year drop in impairment charges on financial assets to RMB 66.61 million and a 15.2% reduction in administrative expenses to RMB 40.32 million.

Revenue fell 5.0% to RMB 350.76 million, reflecting a strategic pull-back from real estate agency services—now contributing just RMB 0.72 million—and softer demand across property-service lines. Core property-management activities, which made up 99% of turnover, declined 3.4% to RMB 350.04 million. Within this segment:

• Property management services were broadly flat at RMB 303.05 million. • Value-added services to non-property owners dropped 32.6% to RMB 8.83 million. • Community value-added services decreased 16.2% to RMB 38.16 million.

Gross profit was stable at RMB 59.50 million, keeping the margin at 17.0%. However, a RMB 11.89 million goodwill impairment and a swing to a RMB 16.48 million tax expense offset operating improvements, leaving the bottom line negative. Basic and diluted loss per share narrowed to RMB 13.12 cents from RMB 19.23 cents.

Balance-sheet pressure intensified. Current liabilities of RMB 287.07 million exceeded current assets by RMB 61.43 million, while equity attributable to shareholders turned negative at RMB 20.49 million (2024: positive RMB 34.06 million). Total equity fell to RMB 6.39 million. Cash and restricted deposits stood at RMB 70.57 million against net current liabilities, underscoring liquidity strain.

Auditors KTC Partners CPA Limited issued an unmodified opinion but highlighted a material uncertainty over the Group’s ability to continue as a going concern. Management is relying on shareholder support, supplier-payment extensions, tighter cost controls and expected operating inflows to bridge the funding gap.

Operational metrics weakened: contracted GFA slipped 6.4% to 17.5 million sq m, and GFA under management declined 5.3% to 14.3 million sq m. The company recorded a RMB 0.86 million fair-value loss on investment properties, leaving the portfolio at RMB 14.18 million. Goodwill fell 29.9% to RMB 27.94 million after impairment.

No dividend was declared for 2025. The annual general meeting is scheduled for 18 June 2026. No share repurchases or significant acquisitions were undertaken during the year.

Looking ahead, Fineland Living plans to focus on service quality, digitalisation and selective expansion in urban services while maintaining a conservative financial stance amid ongoing sector challenges.