CHINA RES LAND (01109) announced its interim results, with net profit attributable to shareholders reaching 9.84 billion yuan and property contract sales amounting to 116.5 billion yuan, ranking third in the industry.

CHINA RES LAND (01109) released its interim results for the six months ending June 30, 2026, reporting a total revenue of RMB 67.87 billion in the first half of 2026. Among this, the revenue from development and sales business amounted to RMB 45.26 billion; revenue from operational real estate leasing business was RMB 14.16 billion; and revenue from light-asset management fee business reached RMB 8.45 billion. The total income from recurring business was RMB 22.61 billion, representing a year-on-year increase of 9.9%, accounting for 33.3% of total revenue. The overall gross profit margin in the first half of 2026 was 25.4%. Among them, the gross profit margin for development and sales business was 10.0%; the gross profit margin for operational real estate leasing business was 73.3%; and the gross profit margin for CHINA RES MIXC Co., Ltd. was 38.0%. In the first half of 2026, the profit attributable to shareholders of the company was RMB 9.84 billion; after deducting the investment property revaluation gains of RMB 3.41 billion during the period and adding back the realized cumulative revaluation gains of RMB 3.73 billion from the disposal of some investment property projects, the core profit attributable to shareholders (hereinafter referred to as "core net profit") was RMB 10.16 billion, of which the core net profit from recurring business amounted to RMB 6.65 billion, with the contribution of core net profit increasing by 5.3 percentage points year-on-year to 65.5%. The earnings per share attributable to shareholders in the first half of 2026 were RMB 1.38, and the core net profit per share was RMB 1.42. The Board of Directors has resolved to declare an interim dividend for 2026 of RMB 0.20 per share (equivalent to HKD 0.231 per share), unchanged from the interim dividend of RMB 0.20 per share in 2025. In the first half of 2026, the Group achieved property contracted sales of RMB 116.5 billion, ranking third in the industry, with a contracted area of 3.16 million square meters. As of June 30, 2026, the Group secured a total unrecognized development property revenue of RMB 188.19 billion, of which RMB 97.28 billion is expected to be recognized within 2026. In the first half of 2026, the Group added new land reserves with a planned construction area of 2.84 million square meters. As of June 30, 2026, the Group's total land reserve was approximately 47.12 million square meters. As of June 30, 2026, the Group's total borrowings were RMB 271.18 billion, with bank balances and cash of RMB 98.91 billion, resulting in a net interest-bearing debt ratio of 41.0%. The weighted average cost of debt financing declined by 9 basis points to 2.63% compared to the end of 2025, maintaining the lowest level in the industry.