Rongan Property Co Ltd

Rong'an Real Estate released its 2026 interim report on August 28. In the first half, the company's operating revenue was 1.03 billion yuan, down 73.5% year on year. Net loss attributable to the parent was 157 million yuan, down 529.7% year on year. Net loss attributable to the parent after deducting non-recurring items was 135 million yuan, down 1,227.0% year on year. Net operating cash flow was 1.075 billion yuan, up 91.7% year on year. Earnings per share were negative 0.0492 yuan. In the second quarter, operating revenue was 504 million yuan, down 60.5% year on year. Net loss attributable to the parent was 128 million yuan, down 848.1% year on year. Net loss attributable to the parent after deducting non-recurring items was 105 million yuan, down 5,668.3% year on year. As of the end of the second quarter, total assets were 10.59 billion yuan, down 9.6% from the end of the previous year. Net assets attributable to the parent were 4.516 billion yuan, down 3.4% from the end of the previous year. In the interim report, the company noted that the macro environment and policy conditions in the real estate industry continue to change. During the reporting period, it added no new land reserves, and its saleable floor area was 490,000 square meters, concentrated mainly in Zhejiang Province.

Rong An Property disclosed its earnings forecast, expecting a net loss attributable to shareholders of 88 million to 176 million yuan in the first half of 2026, compared with a profit of 36.4508 million yuan in the same period last year. The net loss after deducting non-recurring items is expected to be 70.5 million to 141 million yuan, compared with a profit of 12.0096 million yuan in the same period last year. Basic earnings per share are expected to be between negative 0.0276 yuan and negative 0.0553 yuan. The company stated that the expected loss is mainly due to a decline in the number and profit of real estate project settlements, as well as asset impairment provisions for some projects.