KRP Development Holdings (2421) H2 2026 earnings summary

Executive summary

• FY2026 revenue was RMB141.226m, down 22% YoY; profit attributable to equity shareholders was RMB14.874m, down 26% YoY.

• Adjusted profit before tax, excluding investment-property valuation losses and inventory write-downs, was RMB35.679m, down 51% YoY; reported profit before tax was RMB33.706m.

• Strategy balanced property sales and capital returns with gradual expansion into cultural tourism and cultural and creative consumption.

Financial highlights

• Gross profit was RMB75.182m versus RMB106.289m in FY2025; operating profit was RMB32.008m versus RMB49.948m.

• Profit for the year was RMB14.874m versus RMB20.207m; basic and diluted EPS was RMB2.9 cents versus RMB4.0 cents.

• Investment-property valuation loss was RMB1.973m in FY2026 versus RMB15.581m in FY2025; FY2025 also included a RMB3.457m inventory write-down.

Outlook and guidance

• FY2026 priorities included accelerating sales and collections from existing residential projects, controlling development pace, and maintaining liquidity and a healthy financial structure.

• New revenue streams in cultural tourism and cultural and creative consumption will be explored gradually and prudently to diversify revenue and improve resilience.

• Long Feng Villa was in soft opening and content optimization; plans include refining content, marketing and ancillary services based on visitor and operating data.