Glory Health Industry (2329) H1 2026 earnings summary

Executive summary

• Revenue for the six months ended June 30, 2026 was RMB139.5 million, down 57% year-over-year, with property development revenue at RMB32.3 million, down 82.3% year-over-year.

• Gross profit rose to RMB107.6 million from RMB4.4 million due to a significant decrease in property development costs.

• Net loss attributable to owners increased to RMB325.1 million from RMB225.2 million year-over-year.

• Contracted sales fell 41.6% year-over-year to RMB380.3 million, mainly from Beijing, Shenyang, and Langfang.

• The Group is accelerating transformation towards the healthcare industry and scaling down property development.

Financial highlights

• Total revenue: RMB139.5 million (2025: RMB324.2 million).

• Gross profit: RMB107.6 million (2025: RMB4.4 million).

• Net loss attributable to owners: RMB325.1 million (2025: RMB225.2 million).

• Contracted sales: RMB380.3 million (2025: RMB651.1 million).

• Cash and restricted bank deposits: RMB209.8 million as of June 30, 2026.

• Outstanding loans: RMB23,840.0 million, including RMB3,720.9 million in senior notes.

Outlook and guidance

• No nationwide housing price surge expected; market recovery will be gradual and structurally divergent.

• Policies will continue to support rigid housing demand and urban renewal.

• The Group will focus on debt reduction, asset disposal, and transformation into healthcare.