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China SCE Group Holdings (1966) investor relations material
China SCE Group Holdings H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Revenue for H1 2025 was RMB18.52 billion, down 25.4% year-over-year, mainly due to lower property sales income and reduced delivery area and average selling price.
Gross profit fell 13.7% to RMB3.85 billion, but gross margin improved to 20.8% from 18.0% due to higher-margin project deliveries in top-tier cities.
Loss attributable to owners narrowed by 5.5% to RMB3.48 billion.
No interim dividend was declared for the period.
Financial highlights
Contracted sales for H1 2025 were RMB3.74 billion, down 38.9% year-over-year; contracted sales area was 0.46 million sq.m., down 32.1%.
Property sales income dropped 26.9% to RMB17.48 billion; average selling price decreased to RMB11,962/sq.m.
Property management fees rose 4.3% to RMB629.5 million; rental income increased 6.8% to RMB283.6 million.
Finance costs decreased 1.8% to RMB846.1 million.
Income tax expense rose 32.6% to RMB923.3 million, mainly due to higher land appreciation and corporate income taxes.
Outlook and guidance
The government is expected to intensify real estate policy support in H2 2025 to stabilize the market.
The company will focus on price-driven operations, cost control, and accelerating inventory turnover.
Continued innovation in commercial and long-term rental apartment segments, with emphasis on first- and strong second-tier cities.
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