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SOHO China (410) investor relations material
SOHO China 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 RMB638 million, down 8% year-over-year due to weak office and retail leasing demand.
Gross profit was RMB511 million, down 7% year-over-year, with gross margin stable at 80%.
Net loss attributable to owners was RMB34.4 million, a significant improvement from a RMB91.6 million loss in H1 2025.
Average occupancy across the property portfolio recovered to 83% as of 30 June 2026.
No interim dividend was declared for the period.
Financial highlights
Revenue: RMB638 million (down 8% YoY).
Gross profit: RMB511 million (down 7% YoY).
Net loss: RMB33.2 million (vs. RMB90.6 million loss in H1 2025).
Finance expenses decreased to RMB308 million (from RMB330 million YoY).
Cash and cash equivalents at period end: RMB488 million.
Outlook and guidance
Office leasing market expected to remain challenging in H2 2026 due to supply-demand imbalance and rental pressure.
Market stabilization anticipated as macroeconomic policies take effect and emerging industries grow.
Focus remains on prudent operations, optimizing tenant mix, and enhancing property value and service quality.
- Revenue fell 10.9% and net loss widened amid liquidity and tax-related going concern risks.410
H2 2025 - Revenue and occupancy stabilized, but net loss and liquidity risks remain amid market headwinds.410
H1 2025 - Revenue fell 2.7% with a net loss and material going concern risks amid green progress.410
H1 2024 - Revenue fell 8% but margins and occupancy held steady, with ongoing liquidity and tax risks.410
H2 2024
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