CapitaLand China Trust reported gross revenue of RMB299.0 million for the first quarter ended Mar, 31 2026, a 5.3% year-on-year decline mainly due to the absence of contribution from the divested CapitaMall Yuhuating and softer rents at several Beijing and Chengdu malls. Net property income slipped 3.5% to RMB199.8 million.

Retail properties, which account for 70.2% of the trust’s gross revenue, achieved a committed occupancy rate of 97.0% as at Mar, 31 2026. Tenant sales rose 5.5% year-on-year, while shopper traffic increased 3.3% over the same period. Business parks and logistics parks booked committed occupancies of 86.0% and 99.0%, respectively.

Total assets stood at 4.5 billion Singapore dollars as of Dec, 31 2025, while market capitalisation was 1.1 billion Singapore dollars at Mar, 31 2026. Aggregate leverage measured 41.4%, and the average cost of debt fell to 3.10%, down about 40 basis points from a year earlier. The interest coverage ratio remained at 2.9 times with an average debt tenor of 3.2 years; 65% of borrowings are fixed-rate and 59% are denominated in renminbi.

Looking ahead, management said it will target expanding retail exposure in China’s tier-one and tier-two cities, maintain stable occupancy across business and logistics parks, and further recycle mature assets to unlock value.