Poly Developments and Holdings Group (600048) investor relations material

Executive summary

• Revenue for the first nine months of 2025 was RMB 173.72 billion, down 4.95% year-over-year, with net profit attributable to shareholders at RMB 1.93 billion, a 75.31% decrease year-over-year.

• Contracted sales for the first three quarters reached RMB 201.73 billion, down 16.53% year-over-year, with contracted area down 25.13%.

• The company maintained a high sales collection rate of 96%, with cash and cash equivalents at RMB 122.65 billion at quarter-end.

Financial highlights

• Operating income for Q3 was RMB 56.86 billion, up 30.65% from the same quarter last year.

• Net profit attributable to shareholders for Q3 was RMB -0.07 billion, down 299.19% year-over-year.

• Basic and diluted EPS for Q3 were both RMB -0.07, down 296.78% year-over-year.

• Gross margin and profitability declined due to weaker project profitability and market volatility.

• Total assets at quarter-end were RMB 1,287.39 billion, down 3.57% from year-end 2024.

• Shareholders’ equity was RMB 197.42 billion, down 0.09% from year-end 2024.

Outlook and guidance

• The real estate market remains under pressure, with national new home sales area and value down 5.5% and 7.9% year-over-year, respectively.

• Policy support continues to focus on stabilizing the market and encouraging quality improvements in core cities.