SELF Latest Report

Performance of the Earnings Report

Global Self Storage (stock code: SELF) recorded an operating revenue of Rmb318.69 billion as of December 31, 2024, up approximately 7.04% from Rmb297.64 billion in the same period of 2023. This growth reflects the company's competitiveness in the market and its effective response to storage demand.

Key Data in the Earnings Report

1. The operating revenue in 2024 was Rmb318.69 billion, up Rmb21.06 billion from Rmb297.64 billion in 2023, representing a 7.04% increase.

2. The rental income is expected to increase from USD117.19 million in 2023 to USD120.24 million in 2024, up 2.6%.

3. The company plans to maintain an average occupancy rate above 90% by regularly adjusting rents and promotional activities to attract new tenants.

4. The overall operating revenue is expected to increase from USD121.90 million in 2023 to USD125.30 million in 2024, up 2.8%.

Peer Comparison

1. Industry-wide analysis: The self-storage industry has seen an overall increase in demand due to the accelerated urbanization process and diversified consumer needs. It is expected to continue growing in the next few years, especially in large cities and densely populated areas.

2. Peer evaluation analysis: Global Self Storage's operating revenue growth of 7.04% is average in the industry. If the average growth of the industry is between 5% and 10%, the company's revenue growth is stable but has room for improvement.

Summary

Global Self Storage's revenue growth in 2024 was mainly driven by the increased market demand, optimized pricing strategies, and new business expansion. The company's strategy of maintaining high occupancy rates and flexible rent adjustments also supported its revenue growth.

Opportunities

1. The continuous growth of market demand, especially in the context of accelerated urbanization and lifestyle changes.

2. The company has the potential to further enhance revenue through optimized pricing strategies and revenue rate management.

3. New business expansion may bring additional revenue sources.

4. An improved economic environment and a rebound in consumer spending will promote storage service demand.

Risks

1. Economic fluctuations may lead to changes in market demand, affecting the company's operating revenue.

2. Intensified competition may squeeze profit margins and affect the company's overall profitability.

3. External factors such as public health crises or geopolitical events may negatively impact rental demand.

4. Risks associated with rent adjustment strategies, as insufficient market demand may affect occupancy rates and revenue.