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越秀服务2026年中报：物管基本盘稳占六成营收 非住拓展成效显著_我的网站

一 |       8月24日，越秀服务（06626.HK）发布2026年中期业绩公告。报告期内，公司实现营业收入19.15亿元，保持稳健增长态势；股东应占盈利2.24亿元；建议中期派息每股0.089元人民币，同比增长12.1%，派息率提升至60%。    

    Yin Yunzhen introduces to Sakolsky the harvest from the once-barren wasteland. Photo: Lin Xiaoyi/GT
On Monday afternoon, American teacher Ronald Sakolsky visited the homeland of Chinese desert fighter Yin Yuzhen in Uxin Banner of Ordos, Inner Mongolia Autonomous Region. This was a place the American man had visited in 2000 and it has completely changed since then.
In 1999, Sakolsky, a teacher in a China-US education exchange program, was touched by a report on Yin and her husband's afforestation efforts in the harsh wilderness of Mu Us Desert, and raised $5,000 to support her green cause. During that visit, they took pictures - in front of the sunken pit where the Yin couple once resided and in the barren land with a finger-thin sapling they had just planted against a backdrop of dust and bare earth.
What has the $5,000 changed? 
On Monday, they came to the Sakolsky forest - a permanent tribute honoring Sakolsky's early contribution to the region's ecological revival - and replicated the vintage pictures, standing in front of a pit that has long been abandoned and beside a newly planted sapling. This time, however, there are bushes and trees in the background. 
This contrast not only witnessed their friendship across time and the Pacific Ocean, but also showcased a promise Yin has kept for 27 years and a green dream that has been made possible through generations of joint unwavering efforts from Yin, her husband and countless other sand fighters. 
Homecoming with family cooking 

Yin hosted Sakolsky on Monday at her home,  filling the air with the aroma of home-cooked meals during their long-awaited reunion. Watermelons were served along with other fresh fruits and vegetables, all harvested locally. Yin told the Global Times earlier that she learned the English word "more" to persuade him to eat more.  
In 1999, Yin had few options for showing her hospitality, so she cooked a bowl of plain noodles for Sakolsky. Now, the harsh wasteland has transformed into a vibrant green oasis, thanks to unwavering afforestation efforts.
In the courtyard, the Global Times reporter saw Yin grinning from ear to ear with pride as she introduced the produce from the farmland - green pepper longer than a palm, a bottle gourd even bigger than Yin's head, and bags of foxtail millet packaged with the assistance of Yin's grandchildren, who are proud of the family's generations of commitment to green causes.    
During a tour of Yin's home, Sakolsky was impressed by the beautiful house with its green courtyard, saying "You deserve every centimeter of this house." Throughout the visit, he repeatedly praised Yin's hands, which the desert fighter and model worker used to change both the land and her own life through arduous work. 
The $5,000 Sakolsky donated in 1999 was equivalent to three years' income for Yin's entire family at the time. Today, that money has grown into more than 50,000 trees.
But Yin's journey did not stop there. Over the following decades, with the support of China's growing ecological restoration policies — including subsidies for afforestation and compensation for forest managers — she transformed the barren land into a productive family forest farm. Her success has inspired many others in the region to take up tree planting and sand control, transforming what was once a desperate struggle into a sustainable livelihood.
From the sandy hollow where the Yin couple lived in in 1985 and the earth hut they resided in until 1993, to the solid brick house Sakolsky saw when he last visited, and the two-story house the big family now lives in, the change in living environment is a clear example of ecological dividends.  
Uxin Banner lies in the heartland of the Mu Us Desert. The desertification rate was over 90 percent in the 1950s and forestation coverage was merely 7.2 percent as of 1980. Now, the forestation rate has increased to 33 percent, while plantation coverage has expanded to 85 percent, per official data. 
    Sakolsky and Yin enjoy watermelons and other fruits at Yin's home. Photo: Lin Xiaoyi/GT
Carry on the greenness, kindness 
This miracle would have been impossible without numerous people like Yin, long-term systematic planning and scientific governance. 
Chen Ziliang, an expert from the local forestry and grassland bureau, said that Mu Us Desert's sand‑control journey has evolved from collective afforestation to contract desert‑reclamation, moving beyond the simple goal of "keeping trees alive" to restoring vegetation based on water‑resource conditions.  
Putting the idea of "lucid waters and lush mountains are invaluable assets" into practice, Uxin Banner no longer views "greenness" and "growth" as an either‑or proposition. On restored sandy lands, the under‑forest economy, eco‑agriculture and eco‑tourism have flourished. Sand‑fixing shrubs are now processed into animal feed and biomass fuel, and local authorities are exploring photovoltaic‑powered desert control, the Global Times learned. 
Sand control is no longer just about keeping sand away; it's a development approach that guarantees a greener and better living environment alongside a booming economy and increasing incomes. 
On Monday afternoon, when Sakolsky finally stepped into the forest named after him, this American teacher witnessed the Chinese woman's perseverance and commitment to her promises. The $5,000 donated without expectations has grown into a thriving forest of around 50,000 trees. 
"A promise is a promise. Ms. Yin fulfilled her promise," Sakolsky said. After 27 years, the wasteland is green, and Sakolsky and Yin are "brother and sister." 
"This is the answer to how we guide young people: We must teach them love and perseverance. We need to show young people photos of Ms. Yin planting trees, digging the soil with her bare hands," Sakolsky remarked while packing a jar of sand. He said he planned to bring it back to the US, telling his grandchildren it is not just a jar of sand, but "a jar of love."   
Sakolsky told the Global Times earlier that the younger generation only knows about the dust-covered landscape from photos and stories of the elderly. It is important to tell them how the greenness is achieved, and how every single person can contribute to making an extensive forest in the harshest environment. 
"I see where China and America can work together. I see it, so I will not quit. She [Yin] never quit. 'Quit' is not in her vocabulary," Sakolsky said with emotion on Monday. 
"Chinese and Americans can be family. We can get over the differences if we focus on the similarities... If we focus on our similarities and not our differences, we can solve the problems."
At the end of Monday's schedule, Yin and Sakolsky planted another sapling together, just as they did about three decades ago, but in a completely different landscape. 
This new sapling carries on the story of not only greenness through generations of joint efforts, but also kindness across the Pacific Ocean. 
。越秀服务非执行董事兼董事会主席江国雄（左二）、执行董事兼财务总监李慧婷（右一）、执行董事徐健辉（左一）  2026年以来政策端持续释放行业利好，多重政策共同指向存量运营升级、服务价值提升的行业新方向，为物企高质量发展提供了明确的政策支撑，也与越秀服务的战略方向深度契合。  越秀服务非执行董事兼董事会主席江国雄表示：面对行业变革机遇与挑战，公司将紧扣全年“精益服务、管理革新、优化结构、逆势奋进”核心工作主题，坚持以客户价值为根本、以运营效益为导向，稳扎稳打夯实基础服务基本盘，精准提速市场规模拓展，放大增值服务第二增长曲线效能，全面深化数智化科技全域赋能，全方位、体系化构筑差异化核心竞争优势，稳步推进高质量可持续发展，向“客户信赖的智慧城市服务领导者”的目标奋进。  物管收入占比近六成 零负债+高派息筑牢抗周期底盘  报告期内，越秀服务收入结构持续优化，抗周期能力显著增强：基础物管收入增长17.3%至8.4亿元，占总收入比例扩大至44%；基础物管+商业运营及管理为11.31亿元，同比上升10.1%，占总收入比例提升至59%；整体毛利率21.5%，保持稳定。物管基本盘收入占比已近六成，收入稳定性与可持续性进一步增强，全年收入指标稳健增长。  广州国际金融中心IFC  截至2026年6月末，公司现金及定期存款49.70亿元，较2025年末有所增加；上半年经营性现金流净流入1.03亿元。

二 | 公司上半年派息率为60%，和去年同期比增加10个百分点，每股派息0.089人民币，同比上升12.1%，以真金白银的分红回馈广大股东，充分彰显了其对自身发展前景的信心和稳健的财务实力。  越秀服务管理层表示，公司将保持稳定的派息政策，与股东持续共享经营成果。据行业分析师指出，稳定的现金流与高比例分红，正在成为物业板块估值的重要支撑。  满意度逆市提升4.9分 退低效项目+做服务加法打造长期口碑  截至6月30日，公司管理规模达7982万平方米，较2025年末增长8.6%，其中94%位于一二线城市，大湾区占比63%，服务业主34万户。期内公司新增在管面积1129万平方米，同时主动退出低效项目494万平方米，在管项目组合持续优化。上半年，越秀服务四保一服月度分散调研满意度88.1分，同比提升4.9分。口碑背后，是服务标准体系的全面落地，按质价相符原则实施分级精益管理，以数智AI工具打通服务执行全链路，推动客户感知显性化。面向AI时代，越秀服务打造的智慧物业操作系统已整体落地，这套系统以H-R-A（人/机器人/AI）资源动态混编为核心，通过智慧工单串联项目运营全周期，实现“客户满意、智慧劳动力、集成指挥”三大中枢协同运转，打破了传统物业的信息孤岛，实现了服务全流程的可视化、可追溯、可优化，既有效释放一线人力聚焦业主高频需求，也让服务标准可复制落地，切实提升客户服务体验与业主满意度。  行业认可也与客户口碑相互印证，2026年，公司获评克而瑞中国物业企业综合实力TOP10、中指院广州市物业服务质量领先企业TOP1等殊荣。越秀服务管理层表示，公司将继续“做减法”筛出低效项目、“做加法”沉淀服务口碑。

三 |   在增值服务方面，上半年社区增值服务收入4.06亿元。

四 | 越秀服务围绕空间、人、资产三大核心需求开展垂直深耕，空间运营方面，自持零星商业保持出租率92%、收缴率98%双高，并完成肆玩咖啡3.0品牌升级；社区生活服务深化“线上商城+线下前置仓”运营，提升选品及供应链能力，打造百万级爆品矩阵；资产服务发展存量社区换新，助力新房品质交付，持续拓宽、调优业务布局。  从需求侧看，社区零售、家政、美居、空间运营、资产管理等业主刚需赛道需求持续释放，社区消费提质与资产运营升级正成为行业价值链延伸的主要方向。越秀服务管理层表示，公司将依托社区近场优势与业主信任，促进社区生活服务消费、挖掘存量居住升级消费，并持续发展自营品牌，推动增值服务向运营型、民生型转型，为广大业户提供更优质、便利、实惠的生活服务。  新增合约面积同比上升74.8% 强运营+拓标杆打造第二增长曲线  上半年，公司市场拓展提速明显，市场化能力实现高质提升：新增合约面积1042万平方米，同比增长74.8%。上半年，公司依托非住业务事业部成功拓展多个高附加值项目，相继中标无锡霞客国际文旅中心、杭州复尚/星尚大厦、穗深城际、广商中心等标杆项目。公司管理层表示，未来将重点攻坚政府机关、企业总部与产业园区、金融机构（银行）、高校四大优质细分赛道，同步辐射医院、博物馆、公园等特色业态，严守准入标准保品质、聚焦核心市场提密度、深挖业态潜力增厚度。  非住宅业态覆盖写字楼、商业综合体、公建场馆、交通枢纽等多元复杂空间，对综合服务能力要求更高。公司一方面打造标准化、高效率、可迭代的智慧物业操作系统，以一体化管控底座适配不同业态特征，实现多系统融合打通与全链路数智化管控；另一方面构建“4+X”增值服务产品矩阵，梳理出56项可交付业务场景，覆盖工程服务、场地运营、能源服务等维度，形成“技术+产品”的双重能力支撑。  今年7月，越秀服务试水写字楼包租经营，包租西安环贸中心6-11层，为全球头部金融机构汇丰提供租赁、物业管理、装修、设施管理及增值服务一站式解决方案，服务能力由“受托管理”延伸至“自主经营”，收入利润来源多元化。这样的标杆案例还有很多，在广州陈家祠，公司凭借讲解员技能等级自主认定资质，锻造金牌讲解队伍，以专业导赏助力岭南文化活态传承；在无锡霞客国际文旅中心，公司打造适配文旅综合体的全域场景化服务，以徐霞客IP串联文化体验、科普研学与度假休闲——既赋能项目运营，更激活项目价值。  有行业资深分析师评价，越秀服务拓展重心已全面向非住业态转移，并加强盈利能力、业态契合度、长期成长性等多维度项目评估，聚焦核心城市与业态，提升区域项目密度，以优质的B端客户，为其提供抵御行业周期波动的稳定收入，也为越秀服务打开更宽广的成长空间。  面向“十五五”，越秀服务发展路径已然清晰：以品质立基夯实基本盘，以战略深耕提高城市密度与赛道密度；持续提升商办、产业园、公建、TOD业态占比，构建稳定多元的收入结构。  从本期业绩表现看，越秀服务的发展韧性持续显现：物管基本盘不断加固，服务口碑持续上行，业务版图有序延展，股东回报稳步加码，经营质量与增长的确定性同步提升，走出了一条“稳字当头、质效优先”的高质量发展路径，为行业转型发展提供了可借鉴的“越秀样本”。

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