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Poly Developments and Holdings Group (600048) investor relations material
Poly Developments and Holdings Group Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for Q1 2026 was RMB 45.73 billion, down 15.74% year-over-year; net profit attributable to shareholders was RMB 916 million, down 57.06% year-over-year.
Contracted sales reached RMB 51.78 billion, a 17.84% decrease year-over-year; contracted area was 1.15 million sqm, down 24.79%.
The company maintained a high sales collection rate of 91.07%, with cash and equivalents at RMB 127.56 billion at quarter-end.
Financial highlights
Operating income: RMB 45.73 billion, down 15.74% year-over-year.
Net profit attributable to shareholders: RMB 916 million, down 57.06% year-over-year.
Basic and diluted EPS: RMB 0.08, down 57.06% year-over-year.
Operating cash flow: RMB 8.67 billion, up 422.97% year-over-year due to reduced land and project payments.
Total assets at quarter-end: RMB 1,176.04 billion, down 1.08% from year-end 2025.
Shareholders’ equity: RMB 194.05 billion, up 0.57% from year-end 2025.
Outlook and guidance
National real estate sales and investment continued to decline, but policy signals and core city market activity showed signs of stabilization.
The company increased its equity ratio in new land acquisitions to 96%, up 9 percentage points from 2025.
- Revenue and net profit fell sharply, but cash flow and sales leadership were maintained.600048
H2 202518 Apr 2026 - Net profit fell 38.57% year-over-year despite stable revenue and improved debt structure.600048
H1 202418 Dec 2025 - 2024 audit confirms compliance, but profit and revenue fell sharply amid industry headwinds.600048
H2 202412 Dec 2025 - Net profit plunged 75% year-over-year as revenue and project profitability declined.600048
Q3 202522 Oct 2025 - Revenue and profit fell sharply, but cash flow and debt safety improved amid market headwinds.600048
H1 202526 Aug 2025 - Revenue and profit fell significantly as the real estate market remained subdued.600048
Q3 202413 Jun 2025 - Revenue up 9.09% but net profit down 12.27% as real estate market remains pressured.600048
Q1 20256 Jun 2025
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