Country Garden Holdings Company (2007) H1 2026 earnings summary

Executive summary

• Revenue for the first half of 2026 fell 39.3% year-over-year to RMB44.08 billion, with a net loss of RMB16.44 billion and a net loss attributable to owners of RMB15.62 billion.

• Contracted sales attributable to shareholders reached RMB14.25 billion, with 1.825 million sq.m. GFA delivered.

• The company focused on project completion, risk mitigation, asset and liability restoration, and sustainable operations amid ongoing industry adjustment.

• Offshore and onshore debt restructuring advanced, with significant progress in repurchasing and restructuring bonds.

Financial highlights

• Revenue dropped to RMB44.08 billion from RMB72.57 billion year-over-year.

• Gross loss was RMB5.99 billion, mainly due to a RMB6.17 billion net write-down of properties.

• Selling and marketing plus administrative expenses decreased 19.7% to RMB3.20 billion.

• Net finance costs rose to RMB2.39 billion, with interest expenses of RMB4.14 billion and net foreign exchange gains of RMB920 million.

• Cash and cash equivalents plus restricted cash totaled RMB16.68 billion at period end.

• Borrowings decreased to RMB142.66 billion, with RMB101.55 billion classified as current liabilities.

Outlook and guidance

• The company aims to transition from ensuring property delivery to normal operations in the second half of 2026.

• Focus remains on core competitiveness, leveraging technology and AI, and improving balance sheet and cash flows.

• Management expects continued industry adjustment and gradual market recovery, but acknowledges ongoing operational and liquidity challenges.