RUISEN LIFE SER (01922) releases its performance for the year 2024, with a net loss attributable to shareholders of 26.664 million yuan, a turnaround from profit to loss compared to the previous year.

RUISEN LIFE SER (01922) released its annual performance announcement for the year ending December 31, 2024. The group's revenue amounted to 1.956 billion yuan, a decrease of 0.89% compared to the previous year. The net loss attributable to the owners of the parent company was 26.664 million yuan, as opposed to a profit of 90.275 million yuan in the same period last year. The basic loss per share was 9.98 cents. The announcement stated that the decrease in revenue was due to a reduction in the number of projects managed by the group, leading to a decrease in revenue from value-added services. The increase in revenue from property management services of approximately 3.2% was mainly attributed to the group adding large-scale projects and reducing projects with unsatisfactory revenue or profit capabilities. The decrease in revenue from value-added services of approximately 15.7% was mainly due to (i) a decrease in the number of managed projects; (ii) a reduction in the scope of city-level value-added services provided by the group, resulting in a decrease in revenue from the electric bike delivery business.