Sunshine 100 China (2608) H1 2026 earnings summary

Executive summary

• Revenue for the six months ended 30 June 2026 was RMB310.1 million, down 77.5% year-over-year, with gross profit of RMB35.1 million and a gross margin of 11.3%.

• Loss for the period was RMB1,123.5 million, a 2% decrease from the prior year.

• Contracted sales dropped 93.9% to RMB21.0 million, with contracted sales area down 95.7% to 1,361 sqm.

• No interim dividend was declared.

Financial highlights

• Revenue fell sharply to RMB310.1 million from RMB1,376.3 million year-over-year, mainly due to a 94.9% drop in property sales income.

• Gross profit improved to RMB35.1 million from RMB6.2 million, reflecting a reduction in gross loss on delivered properties.

• Other income decreased 96.6% to RMB18.4 million, mainly due to the absence of prior period gains from subsidiary deconsolidation.

• Finance income rose 33.9% to RMB307.3 million, driven by higher net foreign exchange gains.

• Finance costs remained high at RMB1,235.7 million.

• Cash and cash equivalents stood at RMB483.4 million, down RMB138.1 million from year-end 2025.

Outlook and guidance

• The group will focus on asset revitalization, health and wellness, and cultural tourism sectors, shifting from traditional development to integrated asset operations.

• Strategic transformation will be supported by the Amoeba Management System and new business models.

• Continued efforts in debt restructuring and liquidity improvement are planned.