Ganglong China Property Group (6968) H1 2026 earnings summary

Executive summary

• Revenue for the six months ended 30 June 2026 was RMB888 million, down 46% year-over-year due to lower contracted sales and property recognition.

• Net loss widened to RMB727 million from RMB666 million in the prior year period, with gross loss margin deteriorating to 57%.

• The Group delivered properties totaling RMB886 million (100,114 sq.m.) and recorded contracted sales of RMB734 million (75,827 sq.m.) at an ASP of RMB9,680/sq.m.

• Management focused on cost control, cash collection, and debt structure optimization amid severe industry downturn.

Financial highlights

• Gross loss was RMB504 million, compared to RMB441 million last year; gross loss margin increased from 27% to 57%.

• Selling and marketing expenses fell 38% to RMB40 million; general and administrative expenses dropped 15% to RMB57 million.

• Net finance costs rose to RMB85 million from RMB29 million due to lower interest capitalization.

• Basic and diluted loss per share was RMB0.27, up from RMB0.20 year-over-year.

• Cash and cash equivalents (including restricted cash) stood at RMB384 million, down from RMB512 million at year-end 2025.

Outlook and guidance

• Management expects continued pressure on China’s real estate market in H2 2026, prioritizing financial stability, cost control, and cash flow.

• Plans include further expense control, cash collection focus, and financing structure adjustments.