MIDEA REAL EST (03990) announced its interim results, with a profit attributable to shareholders of 255 million yuan, a year-on-year decrease of 16.65%.

MIDEA REAL EST(03990) announced its interim results for the six months ending June 30, 2026, with the group reporting revenues of 1.882 billion yuan, a year-on-year decrease of 5.72%; profit attributable to shareholders was 255 million yuan, down 16.65%; earnings per share stood at 0.18 yuan. Development services are one of the core business segments of the group, focusing on a full-chain management approach to real estate development, covering services such as product design, planning and construction, sales, and phased development management. During the reporting period, the groups development services revenue reached 329.6 million yuan, a decline of 34.7% compared to 504.7 million yuan in the same period last year. In response to market changes and opportunities, we have placed greater emphasis on development quality: project quality has significantly improved, with four third-party residential projects expanded in cities like Wuxi, Xuzhou, and Guiyang. Among these, the Xuzhou Midea Junlan Yue project adopts a proactive immediate housing strategy to reshape the credit system in the real estate industry, redefining the home buying experience with tangible quality. During the reporting period, property management service revenue was approximately 912.7 million yuan, remaining roughly stable compared to 930 million yuan in the same period last year. The group builds high-quality development capabilities through a "service+" model, empowering an urban space service ecosystem and venturing into multiple fields, including residential, industrial parks, healthcare, schools, and commercial offices. During the reporting period, residential property services maintained steady expansion as a solid foundation, relying on in-depth cultivation of existing projects and third-party market expansion, contributing stable cash flow; industrial park services continued to enhance park occupancy rates with comprehensive services for industrial investment and enterprise support, emerging as a core business in non-residential sectors. The groups contracted area and managed area were 95.52 million square meters and 84.05 million square meters, respectively. In terms of non-residential sectors, the group manages a total of 115 projects, including industrial parks, healthcare, schools, and public construction. During the reporting period, seven new projects valued at over 10 million yuan each were signed.