Fantasia Holdings Group (1777) investor relations material

Executive summary

• Revenue declined 51.5% year-over-year to RMB913 million for the six months ended 30 June 2026, mainly due to lower property sales and disposal of subsidiaries.

• Net loss attributable to owners increased 34% year-over-year to RMB4,250 million, with a total comprehensive loss of RMB4,409 million.

• Gross profit fell 56.9% to RMB142 million, and gross margin dropped to 15.5% from 17.5% year-over-year.

• No interim dividend was declared.

Financial highlights

• Property development revenue decreased 60.1% to RMB151 million due to lower delivered GFA.

• Property investment revenue dropped 31.9% to RMB75 million, reflecting lower occupancy.

• Property operation services revenue declined 51.8% to RMB668 million, mainly from subsidiary disposals.

• Administrative expenses reduced by 41.8% to RMB171 million, reflecting cost controls and subsidiary disposals.

• Finance costs rose 6% to RMB2,352 million due to lower capitalized interest.

• Cash and cash equivalents fell 81.1% to RMB290 million as of 30 June 2026.

Outlook and guidance

• Offshore debt restructuring completed on 30 July 2026, with new notes, shares, and mandatory convertible bonds issued.

• Onshore bond maturities extended to 31 December 2026; negotiations ongoing for comprehensive resolution.

• Management focuses on accelerating property sales, asset disposals, and cost controls to address liquidity.