Ronshine China (3301) H1 2026 earnings summary

Executive summary

• Contracted sales for the six months ended 30 June 2026 were RMB1,293.88 million, down 38.62% year-over-year, with contracted GFA of 113,105 sq.m. and average selling price of RMB11,440 per sq.m.

• Revenue fell 62.35% year-over-year to RMB798.91 million, mainly due to a sharp decline in property deliveries.

• Gross profit dropped 91.67% to RMB47.02 million, with gross margin narrowing to 5.89% from 26.61%.

• Loss for the period widened to RMB1,915.48 million, with loss attributable to owners at RMB1,565.11 million.

• The Group continues to focus on core regions, maintain prudent development, and manage liquidity amid industry headwinds.

Financial highlights

• Revenue: RMB798.91 million, down 62.35% year-over-year.

• Gross profit: RMB47.02 million, down 91.67% year-over-year.

• Gross margin: 5.89% (vs. 26.61% prior year).

• Loss for the period: RMB1,915.48 million (vs. RMB1,704.13 million prior year).

• Loss attributable to owners: RMB1,565.11 million (improved from RMB1,829.16 million prior year).

• Net current liabilities: RMB25,749.55 million as of 30 June 2026.

• Cash and bank balances: RMB2,332.94 million; total borrowings: RMB35,954.27 million.

Outlook and guidance

• The real estate market is expected to remain in a phase of deep adjustment and optimisation in the second half of 2026.

• The Group will continue focusing on core regions, enhancing operational efficiency, and prudent cash flow management.

• Ongoing efforts to ensure on-time property delivery and seize market opportunities.