YUEXIU PROPERTY (00123) announced its interim results for 2025, reporting revenue of RMB 47.574 billion, representing a 34.62% year-on-year increase. Gross profit reached RMB 5.063 billion, up 4.45% compared to the same period last year. Profit attributable to equity holders was RMB 1.37 billion, with basic earnings per share of RMB 0.3403. The company proposed an interim dividend of HK$0.166 per share.

Contract Sales Demonstrate Counter-Cyclical Growth, Maintaining Industry Leadership

In the first half of 2025, the Group capitalized on market stabilization opportunities by implementing flexible and targeted strategies. The company deepened its "one project, one strategy" marketing approach, accelerated inventory reduction, and strengthened inventory clearance assessment mechanisms. Digital marketing efforts were fully deployed, maintaining the company's leading market position. According to CRIC statistics, the Group's sales amount ranking remained in the top 8 nationally for the first half, ranking 2nd in Guangzhou, achieving 1st place in Beijing for the first time, and ranking 6th in Shanghai.

For the first half of 2025, the Group recorded contract sales (including sales from joint ventures and associate projects) of approximately RMB 61.5 billion, representing an 11.0% year-on-year increase and achieving 51.0% of the annual contract sales target of RMB 120.5 billion.

Precise Investment Strategy Drives High-Quality Land Banking

In the first half of 2025, amid a differentiated land market, the Group focused on investment in core cities through a precise investment strategy, acquiring multiple high-quality land parcels. The company added 13 land parcels in Beijing, Shanghai, Guangzhou, Hangzhou, Xi'an, and Foshan, with a total gross floor area of approximately 1.48 million square meters. This incremental investment effectively drives structural business optimization, providing strong support for inventory reduction and efficiency improvement.

As of June 30, 2025, the Group possessed a total land reserve of approximately 20.43 million square meters, with 94% distributed in first-tier and second-tier cities. The high quality and continuously optimized structure of the land reserve can meet the Group's sustainable development needs.

"Greater Commercial" Business Maintains Stable Development

The Group continues to advance its "residential and commercial development" strategy, enhancing "Greater Commercial" operational capabilities and actively addressing market challenges through optimized leasing strategies and models. In the first half of 2025, rental income from directly held commercial properties was approximately RMB 268 million.

Yuexiu Real Estate Investment Trust, in which the Group held a 40.61% stake as of June 30, 2025, achieved revenue of approximately RMB 966 million in the first half, with an overall occupancy rate (excluding hotels and serviced apartments) of approximately 82%.

Yuexiu Services Group Limited, in which the Group held a 67.81% stake as of June 30, 2025, demonstrated steady business growth with continuously improving quality, achieving revenue of approximately RMB 1.962 billion in the first half and managing approximately 72.31 million square meters of area under management.

The healthcare and elderly care business recorded revenue growth with significantly improved bed occupancy rates, maintaining industry-leading positions.

Sound and Secure Financial Position

The Group maintains healthy finances and ample liquidity safety. As of June 30, 2025, the Group's total cash and bank balances, time deposits, and other restricted deposits amounted to approximately RMB 44.64 billion. The net gearing ratio after excluding advance receipts was 64.6%, net debt-to-equity ratio was 53.2%, and cash-to-short-term debt ratio was 1.7 times. The Group's "three red lines" indicators continue to maintain "green" compliance, with healthy and secure financial metrics.

The Group continues to maintain a Fitch BBB- investment grade credit rating with an outlook upgraded to stable, and obtained a S&P BBB- investment grade credit rating with a stable outlook in August.