NSA Latest Report

Financial Performance Review

Based on the provided financial data, National Storage (stock code: NSA) recorded a total operating revenue of RMB190,118,000 as of December 31, 2024, a year-on-year decrease of approximately 11.73% from RMB215,412,000 as of December 31, 2023. This change indicates that the company faces pressure in terms of operating revenue, which may affect its overall profitability. At the same time, despite the decrease in operating revenue, the company has improved its control over sales costs, showing its improvement in operational efficiency.

Key Financial Data

1. National Storage's total operating revenue has significantly decreased, reflecting a possible weakening in market demand.

2. The control over sales costs has improved, with RMB52,245,000 in 2024, compared to RMB56,828,000 in 2023.

3. Special expenses have increased to RMB33,560,000, which may negatively affect net profit.

4. Changes in the overall market environment, including economic slowdown, may affect the company's operating revenue.

Industry Comparison

1. Industry-wide analysis: If the overall industry faces a downward trend in operating revenue, it may reflect a weakening in market demand. Conversely, if operating revenue of peer companies increases, it indicates that National Storage is at a disadvantage in the competition.

2. Peer evaluation analysis: Compared to other companies in the same industry, National Storage's decrease in total operating revenue is significant, which may affect its competitive position in the industry. Further analysis of the financial data of other companies in the same industry is needed to assess National Storage's relative performance.

Summary

This analysis shows that National Storage's operating revenue has significantly decreased, reflecting the market pressure it faces. While it has improved its control over sales costs, showing its improvement in operational efficiency, the increase in special expenses may negatively affect net profit. Therefore, the company needs to pay attention to its cost structure to ensure the stability of profitability.

Opportunities

1. The company can offset the impact of revenue decline by improving operational efficiency.

2. Through asset sales and investment in new technologies, National Storage has the opportunity to improve its financial situation and market competitiveness.

3. With the recovery of the real estate market, new customer demand may arise.

Risks

1. The decrease in operating revenue may further weaken the company's market position.

2. The increase in special expenses may affect the company's overall profitability.

3. Changes in the market environment, particularly economic slowdown, may continue to put pressure on operating revenue.