Shanghai Lingang Holdings (600848) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was RMB 1.41 billion, down 11.02% year-over-year due to lower park sales and product mix changes.

• Net profit attributable to shareholders was RMB 83.86 million, a 36.08% decrease year-over-year.

• Excluding non-recurring items, net profit dropped 82.06% year-over-year.

• The company is accelerating transformation from traditional park development to park operations, enterprise services, and sci-tech investment.

Financial highlights

• Operating income: RMB 1.41 billion, down from RMB 1.58 billion year-over-year.

• Total profit: RMB 235.78 million, down 25.97% year-over-year.

• Net profit attributable to shareholders: RMB 83.86 million, down 36.08% year-over-year.

• Basic and diluted EPS: RMB 0.03, down 40% year-over-year.

• Net cash flow from operating activities: -RMB 1.00 billion, improved from -RMB 2.08 billion year-over-year.

• Total assets at period end: RMB 86.75 billion, down 1% from year-end 2025.

Outlook and guidance

• The company continues to optimize its business structure and income composition, focusing on park operations and sci-tech investment.

• Industry environment and economic cycle adjustments are expected to continue impacting core business profitability.