Xi'an Kingfar Property Services (1354) H1 2026 earnings summary

Executive summary

• H1 revenue rose 24.83% YoY to RMB588.54m; profit for the period increased 2.68% to RMB32.96m, while gross margin fell to 14.94%.

• Managed portfolio reached 243 projects and 34.32m sq.m., up from 192 projects and 17.50m sq.m. a year earlier; contracted area was 34.86m sq.m.

Financial highlights

• Revenue rose 24.83% to RMB588.54m; cost of sales increased 27.64% to RMB500.60m and gross profit grew 10.90% to RMB87.94m.

• Operating profit was RMB40.65m versus RMB43.92m; profit before tax was RMB40.18m versus RMB41.97m, while profit for the period was RMB32.96m versus RMB32.10m.

• Impairment losses on trade and other receivables rose to RMB12.74m from RMB3.77m; administrative and R&D costs increased 7.0% to RMB35.2m.

• Other net gains fell 53.9% to RMB0.6m; finance costs declined 75.0% to RMB0.5m, partly reflecting exchange gains offsetting finance costs.

Outlook and guidance

• H2 priorities include expanding property management and urban services, especially in Northwest China, through JVs, M&A and project expansion.

• Plans include exploring new markets and revenue sources, improving bid success, broadening service scope, and refining standardized services and customer experience.

• Professional team development and opportunities linked to Kingfar Holdings Group's business coverage are intended to support geographic and scale expansion.