Logan Group Company (3380) investor relations material

Executive summary

• Revenue for the six months ended 30 June 2025 was RMB3,401.0 million, down 75.8% year-over-year due to a challenging real estate market and reduced property deliveries.

• Net loss for the period was RMB1,959.7 million, an 8.9% increase from the prior year, mainly due to low gross profit margin and inventory impairment amid a continued real estate downturn.

• The group reached a major milestone in offshore debt restructuring, with over 80.8% of creditors supporting a holistic agreement covering US$6,207 million in offshore debt.

• Onshore bond restructuring also progressed, with 21 onshore bonds and ABS restructuring proposals approved by bondholders.

• Contracted sales reached RMB3,975.2 million, with the Greater Bay Area accounting for over half.

Financial highlights

• Revenue fell to RMB3,401.0 million from RMB14,053.4 million year-over-year, mainly due to a 76.5% drop in property development revenue.

• Gross loss narrowed to RMB1,366.6 million from RMB1,673.9 million, an 18.4% improvement.

• Net finance costs decreased sharply to RMB193.8 million from RMB1,126.4 million.

• Cash and bank balances increased 3.5% to RMB8,952.6 million as of 30 June 2025.

• Total assets declined 2.5% to RMB207,215.8 million, and total equity fell 5.2% to RMB23,518.7 million.

Outlook and guidance

• The group will focus on quality project deliveries, risk control, and completing both onshore and offshore debt restructurings.

• Management expects the impact of government real estate support policies to take time to materialize.