Ganglong China Property Group (6968) H1 2026 earnings summary

Executive summary

• Revenue for H1 2026 was RMB888 million, down 46% year-over-year due to lower contracted sales and property recognition.

• Net loss widened to RMB727 million, with gross loss margin deteriorating to 57% and loss attributable to owners at RMB444 million.

• The Group delivered properties worth RMB886 million (100,114 sq.m.) and recorded contracted sales of RMB734 million (75,827 sq.m.) at an ASP of RMB9,680/sq.m.

• Management focused on cost control, cash collection, and debt structure optimization amid severe industry downturn.

Financial highlights

• Gross loss was RMB504 million (gross loss margin 57%, vs. 27% in H1 2025).

• Net loss: RMB727 million; loss attributable to owners: RMB444 million.

• Basic and diluted loss per share: RMB0.27 (vs. RMB0.20 in H1 2025).

• Cash and cash equivalents: RMB384 million as of 30 June 2026, down from RMB512 million at year-end 2025.

• Selling and marketing expenses fell 38% to RMB40 million; general and administrative expenses dropped 15% to RMB57 million.

Outlook and guidance

• Management expects continued pressure on China’s real estate market in H2 2026, prioritizing financial stability, cost control, and cash flow.

• Plans include further cost reduction, cash flow management, and negotiation with creditors for debt extensions.

• No interim dividend recommended for H1 2026.