D 
Desun Real Estate Investment Services Group Co 2270.HK · HKD
Real Estate · HKEX · 🇭🇰 Hong Kong
5.77
—
Close of 9 Nov 2026, in HKD
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥475.7m
FY2018FY2025
Net income
CN¥32.5m
FY2018FY2025
Free cash flow
CN¥94.4m
FY2018FY2025
Shareholders' equity
CN¥313.3m
FY2018FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥475.7m | CN¥387.8m | CN¥290.7m | CN¥228.5m | CN¥216.6m | CN¥109.4m | CN¥59.1m | CN¥54.7m |
| Gross profit | CN¥64.2m | CN¥85.4m | CN¥78.0m | CN¥81.0m | CN¥88.4m | CN¥53.6m | CN¥30.7m | CN¥32.6m |
| Research and development | — | — | CN¥407,032 | — | — | — | — | — |
| Operating income | CN¥47.1m | CN¥41.5m | CN¥39.5m | CN¥18.7m | CN¥31.9m | CN¥38.0m | CN¥31.0m | CN¥30.6m |
| Net income | CN¥32.5m | CN¥31.7m | CN¥33.5m | CN¥28.7m | CN¥28.6m | CN¥36.7m | CN¥26.5m | CN¥26.8m |
| Diluted earnings per share | 0.05 | 0.06 | 0.05 | 0.05 | 0.06 | 0.06 | 0.04 | 0.04 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥932.8m | CN¥713.9m | CN¥722.8m | CN¥384.9m | CN¥318.9m | CN¥148.0m | CN¥58.9m | CN¥61.0m |
| Cash and short-term investments | CN¥178.7m | CN¥148.2m | CN¥181.8m | CN¥213.8m | CN¥217.5m | CN¥94.2m | CN¥49.6m | CN¥47.1m |
| Total liabilities | CN¥607.1m | CN¥479.5m | CN¥455.5m | CN¥129.5m | CN¥105.7m | CN¥79.1m | CN¥26.7m | CN¥20.4m |
| Debt | CN¥342.6m | CN¥253.4m | CN¥247.9m | — | CN¥104,323 | CN¥306,129 | CN¥498,529 | CN¥116,295 |
| Shareholders' equity | CN¥313.3m | CN¥229.8m | CN¥261.2m | CN¥253.9m | CN¥212.9m | CN¥68.9m | CN¥32.2m | CN¥40.5m |
| Shares outstanding | 613m | 571m | 622m | 619m | 466m | 600m | 600m | 600m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥107.3m | CN¥61.7m | CN¥38.4m | −CN¥19.1m | CN¥14.7m | CN¥33.4m | CN¥37.9m | CN¥22.2m |
| Capital spending | −CN¥12.9m | −CN¥14.0m | −CN¥44.2m | −CN¥8.6m | −CN¥1.1m | −CN¥736,249 | −CN¥787,556 | −CN¥27,363 |
| Free cash flow | CN¥94.4m | CN¥47.7m | −CN¥5.8m | −CN¥27.7m | CN¥13.6m | CN¥32.7m | CN¥37.1m | CN¥22.2m |
| Dividends paid | −CN¥225,000 | — | −CN¥26.7m | — | — | — | −CN¥34.9m | −CN¥23.3m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥250.8m | CN¥256.0m | CN¥228.0m | CN¥214.1m | CN¥173.7m | CN¥163.5m | CN¥127.2m | CN¥120.8m |
| Gross profit | CN¥18.8m | CN¥36.6m | CN¥47.8m | CN¥32.0m | CN¥53.4m | CN¥39.4m | CN¥38.6m | CN¥43.0m |
| Operating income | −CN¥788,872 | CN¥34.2m | CN¥19.9m | CN¥15.3m | CN¥26.2m | CN¥24.0m | CN¥14.8m | −CN¥726,843 |
| Net income | −CN¥10.5m | CN¥16.4m | CN¥16.7m | CN¥13.3m | CN¥18.3m | CN¥18.3m | CN¥15.3m | CN¥6.7m |
| Diluted earnings per share | -0.02 | 0.03 | 0.03 | 0.02 | 0.03 | 0.03 | 0.02 | 0.01 |
| Cash from operations | — | CN¥119.0m | −CN¥12.0m | CN¥82.0m | −CN¥10.0m | CN¥34.0m | CN¥2.0m | −CN¥6.0m |
| Capital spending | — | −CN¥11.0m | −CN¥1.0m | −CN¥12.0m | −CN¥3.0m | −CN¥19.0m | −CN¥24.0m | −CN¥8.0m |
| Free cash flow | — | CN¥108.0m | −CN¥13.0m | CN¥70.0m | −CN¥13.0m | CN¥15.0m | −CN¥22.0m | −CN¥14.0m |
| Total assets | CN¥906.3m | CN¥932.8m | CN¥906.5m | CN¥713.9m | CN¥689.2m | CN¥722.8m | CN¥660.9m | CN¥384.9m |
| Cash and short-term investments | CN¥111.4m | CN¥178.7m | CN¥233.0m | CN¥148.2m | CN¥117.5m | CN¥181.8m | CN¥203.1m | CN¥213.8m |
| Debt | CN¥87.1m | CN¥122.5m | CN¥346.5m | CN¥227.0m | CN¥225.7m | CN¥228.1m | CN¥220.3m | — |
| Shareholders' equity | CN¥311.1m | CN¥313.3m | CN¥291.1m | CN¥229.8m | CN¥224.6m | CN¥261.2m | CN¥244.8m | CN¥253.9m |
Financial ratios
Data as of 29 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 13.5% | 22.0% | 26.8% | 35.4% | 40.8% | 49.0% |
| Operating margin | 13.2% | 13.1% | 16.3% | 13.9% | 16.0% | 39.8% |
| Net margin | 6.8% | 8.2% | 11.5% | 12.6% | 13.2% | 33.6% |
| Return on equity | 10.4% | 13.8% | 12.8% | 11.3% | 13.4% | 53.3% |
| Return on assets | 3.5% | 4.4% | 4.6% | 7.5% | 9.0% | 24.8% |
| Free cash flow yield | 3.3% | 2.6% | 2.6% | -0.3% | 0.7% | 1.1% |
| Revenue growth | 4.9% | 33.4% | 27.2% | 5.5% | 98.0% | 85.1% |
| Earnings growth | -12.3% | -5.6% | 16.7% | 0.5% | -22.1% | 38.3% |
| Current ratio | 4.91x | 1.48x | 1.70x | 2.80x | 2.89x | 1.71x |
| Debt to equity | 0.39x | 0.24x | 0.14x | 0.00x | 0.00x | 0.00x |
| Equity ratio | 33.6% | 32.2% | 36.1% | 66.0% | 66.8% | 46.6% |
| Interest coverage | 4.01x | 3.92x | 5.85x | 190.78x | 370.80x | 2118.88x |
| R&D as a share of sales | — | — | 0.1% | — | — | — |
| Buybacks as a share of market value | -7.4% | 8.1% | -0.5% | -32.6% | 22.3% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 25.6% | 33.3% | — |
| Operating income | 36.1% | 4.4% | — |
| Net income | 4.2% | -2.4% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 17.3% | 22.3% | 26.4% | — |
| Operating margin | 10.3% | 10.6% | 12.7% | — |
| Net margin | 7.4% | 9.1% | 11.2% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | 65.0 | 17.5 | 18.0 | 22.8 | 15.5 |
| Price to sales | 4.6 | 1.5 | 2.1 | 2.8 | 2.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 26 Jun 2023.
| FY2023 | |
|---|---|
| Paid in the year | 0.055 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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