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Poly Developments and Holdings Group (600048) investor relations material

Poly Developments and Holdings Group H1 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H1 2025 earnings summary26 Aug, 2025

Financial highlights

  • Revenue for H1 2025 was RMB 116.86 billion, down 16.08% year-over-year; net profit attributable to shareholders was RMB 2.71 billion, down 63.47% year-over-year.

  • Operating cash flow turned positive to RMB 16.02 billion from a negative RMB 17.15 billion in H1 2024.

  • Gross margin was 14.6%, slightly higher than full-year 2024.

  • Basic and diluted EPS were RMB 0.23, down over 63% year-over-year.

  • Net assets attributable to shareholders at period end: RMB 198.26 billion; total assets: RMB 1.31 trillion.

Outlook and guidance

  • The company expects continued market differentiation and pressure on destocking, with policy support needed for stabilization.

  • Focus remains on cash flow safety, risk control, and high-quality development, with ongoing product and service upgrades.

Segment performance

  • Contracted sales reached RMB 145.17 billion, down 16.25% year-over-year; contracted area was 7.14 million sqm, with average price rising to RMB 20,300/sqm.

  • Asset operation revenue was RMB 2.54 billion, up 13% year-over-year; property management revenue was RMB 8.39 billion, up 6.6% year-over-year.

  • Property management net profit was RMB 891 million, up 5.3% year-over-year.

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Frequently asked questions

Poly Developments and Holdings Group is a diversified real estate company engaged in the development, investment, and management of residential, commercial, and mixed-use properties. The company provides a wide range of services, including property sales, leasing, and asset management. The company is headquartered in Guangzhou, China, and its shares are listed on the Shanghai Stock Exchange.

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