Xiamen C&D (600153) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 was RMB 303.78 billion, down 3.66% year-over-year; net profit attributable to shareholders rose 17.62% to RMB 988.91 million, with EPS at RMB 0.25, up 25%.

• Net profit growth was driven by improved performance in the real estate and home furnishing segments, despite a decline in supply chain operating profit.

• Total assets reached RMB 846.01 billion, up 15.40% from year-end 2025; net assets attributable to shareholders fell 4.31% to RMB 58.76 billion.

Financial highlights

• Supply chain operations contributed 90.64% of revenue, real estate 8.34%, and home furnishing 1.02%.

• Net cash flow from operating activities was RMB 6.64 billion, down 62.84% year-over-year.

• Gross margin for supply chain operations was 2.65%, real estate 13.93%, and home furnishing 64.36%.

• Adjusted net profit (excluding non-recurring items) was RMB 1.08 billion, up 59.52% year-over-year.

Outlook and guidance

• The company is shifting from scale-driven to efficiency- and innovation-driven growth, with a focus on international expansion and digital transformation.

• Management expects continued growth in overseas business and further improvement in supply chain and consumer segments.