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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Poly Developments and Holdings Group
Poly Developments and Holdings Group (600048) investor relations material
Poly Developments and Holdings Group Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary28 Oct, 2026
Executive summary
Q3 revenue fell 8.39% YoY to RMB 52.10bn; total profit rose 314.10% to RMB 1.56bn as project handover mix shifted, while quarterly net profit turned positive.
9M revenue declined 10.80% YoY to RMB 154.96bn and net profit attributable to shareholders fell 16.03% to RMB 2.33bn.
Financial highlights
9M total profit was RMB 7.19bn, down 35.33% YoY; net profit excluding non-recurring items was RMB 2.15bn, down 17.06%.
9M operating cash flow was RMB 7.72bn, up 10.63% YoY; sales cash collections totaled RMB 160.9bn.
Q3 net profit attributable to shareholders was RMB 373.8m and adjusted net profit was RMB 279.5m, versus losses in the prior-year quarter.
Segment performance
9M contracted sales totaled RMB 181.24bn, down 10.16% YoY; contracted area was 8.76m sqm, down 13.35%.
9M new starts were 3.80m sqm, down 25.78% YoY, and completions were 9.41m sqm, down 48.07%; 501 projects were under construction or planned at quarter-end.
At quarter-end, projects under construction covered 43.77m sqm, with 46.64m sqm awaiting development.
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Latest events from Poly Developments and Holdings Group
- Guarantees total RMB 84.44B and collateralized assets RMB 113.78B as of June 2026.600048
Q2 2026 - Q1 2026 saw sharp declines in revenue and profit, but cash flow and collection rates improved.600048Q1 2026
- Revenue and net profit fell sharply, but cash flow and sales leadership were maintained.600048H2 2025
- Net profit plunged 75% year-over-year as revenue and project profitability declined.600048Q3 2025
- Revenue and profit fell sharply, but cash flow and debt safety improved amid market headwinds.600048H1 2025
- Revenue and profit fell significantly as the real estate market remained subdued.600048Q3 2024
- Net profit fell 38.57% year-over-year despite stable revenue and improved debt structure.600048H1 2024
- Revenue up 9.09% but net profit down 12.27% as real estate market remains pressured.600048Q1 2025
- 2024 audit confirms compliance, but profit and revenue fell sharply amid industry headwinds.600048H2 2024
Next Poly Developments and Holdings Group earnings date
Q4 202616 Apr, 2027
Poly Developments and Holdings Group
Next Poly Developments and Holdings Group earnings date
Q4 202616 Apr, 2027
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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.