Guangdong Land Holdings (124) investor relations material

Executive summary

• Revenue for H1 2026 was HK$3,532 million, down 38.6% year-over-year due to lower property sales volume.

• Profit attributable to owners was HK$111 million, a 60.6% decrease compared to H1 2025.

• Gross profit fell 56.7% to HK$893 million, reflecting reduced delivery of high-margin projects.

• Inventory impairment provision was HK$121 million, significantly lower than HK$768 million in H1 2025.

• The Group focused on property development and investment in the Greater Bay Area, with key projects in Shenzhen, Guangzhou, Foshan, Zhuhai, Zhongshan, Jiangmen, and Huizhou.

Financial highlights

• Revenue: HK$3,532 million (H1 2025: HK$5,752 million), -38.6% year-over-year.

• Gross profit: HK$893 million (H1 2025: HK$2,063 million), -56.7% year-over-year.

• Profit attributable to owners: HK$111 million (H1 2025: HK$282 million), -60.6%.

• Basic EPS: HK6.49 cents (H1 2025: HK16.48 cents), -60.6%.

• Net asset value per share: HK$1.92 (Dec 2025: HK$1.78), +7.9%.

Outlook and guidance

• Chinese government expected to continue optimizing real estate policies to stabilize the market and support demand.

• Core first- and second-tier cities' new house sales and prices expected to stabilize.

• Group will focus on project completion, sales, and prudent investment in the Greater Bay Area.

• Confident in long-term business prospects and committed to creating greater shareholder returns.

• Focus remains on completing, selling, and operating existing projects, and exploring new high-quality opportunities.