**"SL Green Realty Soars: A 27.67% Revenue Surge Signals Strong Market Resurgence

Performance Review

SL Green Realty (SLG) recorded an operating income of RMB239,846,000 as of March 31, 2025, up 27.67% from RMB187,882,000 as of March 31, 2024. This growth indicates a significant improvement in the company's revenue, possibly due to increased market demand, rental rates, or asset management efficiency.

Key Financial Data

1. The operating income grew by 27.67% YoY in Q1 2025, demonstrating the company's strong performance in the commercial real estate market.

2. Increased market demand, optimized asset management, new project contributions, and rental adjustments were the main factors driving revenue growth.

3. The overall industry recovery signs are evident, with many peer companies reporting similar revenue growth, reflecting positive market changes.

Peer Comparison

1. Industry-wide analysis: The commercial real estate industry as a whole showed signs of recovery in 2025, especially in urban areas, with a rebound in leasing demand driving overall industry revenue growth. According to industry reports, many peer companies also reported similar revenue growth, reflecting market positive changes.

2. Peer evaluation analysis: SL Green Realty's operating income grew by 27.67% YoY, outperforming its peers. Compared to some major competitors, SLG's growth rate was higher than the industry average, showcasing its competitiveness and management efficiency in the market.

Summary

The analysis shows that SL Green Realty's operating income has grown significantly, mainly due to the improvement in market demand, effective asset management, and reasonable rental adjustments. However, the overall industry recovery also presents external opportunities for the company.

Opportunities

1. The company can continue to optimize its asset management strategies, leveraging technology to enhance operational efficiency.

2. With the recovery in market demand, SL Green Realty can plan to launch new projects to further drive revenue.

3. Higher rental rates are beneficial for boosting the company's overall earnings, especially during economic recovery.

Risks

1. Macroeconomic factors such as changes in unemployment rates and consumer spending may negatively impact the company's leasing demand.

2. Intensified competition within the industry may lead to downward pressure on rental rates, affecting the company's revenue performance.

3. Changes in the policy environment, such as interest rate hikes or tax policy adjustments, may increase the company's financing costs and operational risks.