China's state-backed Poly Property Group (0119) expects a loss for the six months ended 30 June 2026 from 700 million to 800 million yuan, as compared to a profit of 208 million yuan for the same period last year, the company said Thursday.
The company attributed the loss to decreased delivered projects compared to the same period last year, leading to a temporary decline in revenue. In addition, the mainland real estate industry remains to consolidate at its bottom, with continued pressure on market volume and price, leading to a decline in the gross profit margin.
The total borrowing scale is steadily declining and total cash reserves are staying ample.
The group completed contracted sales of 23.2 billion yuan in the first half of this year.
