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China Aoyuan Group (3883) investor relations material
China Aoyuan Group H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for H1 2026 was RMB3,704 million, down 17.1% year-over-year, mainly from property development, with contracted sales of RMB864 million and GFA sold of 84,700 sq.m.
Gross loss narrowed to RMB1,444 million, a 49.2% improvement year-over-year, but gross loss margin remained high at 39.0%.
Loss attributable to owners was RMB6,271 million, a 28.9% reduction from the prior year.
Focused on property delivery, onshore debt restructuring, deleveraging, and cost control to stabilize operations.
Financial highlights
Revenue: RMB3,704 million, down 17.1% year-over-year; property sales revenue RMB3,599 million, down 6.0%.
Gross loss: RMB1,444 million (gross loss margin 39.0%), improved from RMB2,841 million loss in H1 2025.
Adjusted gross profit (excluding impairment): RMB64 million, down 78.1% year-over-year.
Loss attributable to owners: RMB6,271 million, improved from RMB8,814 million in H1 2025.
Basic and diluted loss per share: RMB113 cents (vs. RMB217 cents in H1 2025).
Outlook and guidance
Plans to accelerate onshore and offshore debt restructuring, improve sales and inventory clearance, and optimize capital structure in H2 2026.
Will focus on operational foundations, smart profit models, and urban renewal business to drive sustainable growth.
Management expects sufficient working capital for the next 12 months, assuming successful execution of liquidity measures.
- Net loss of RMB17,764 million and severe liquidity risks led to an auditor's disclaimer of opinion.3883
H2 2025 - Net loss of RMB8.8 billion as revenue fell 5.7% amid high leverage and sector volatility.3883
H1 2025 - Record profit from restructuring masks ongoing operational and liquidity challenges.3883
H1 2024 - Restructuring gain offset steep revenue decline, but going concern risks persist.3883
H2 2024
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