Yida China Holdings Limited released its unaudited results for the six months ended 30 June 2026, showing continued top-line contraction and sustained bottom-line losses against a backdrop of industry weakness and heavy debt obligations.

Revenue fell 19.5% year on year to RMB564.16 million, dragged by softer rental, management and construction income. Property sales contributed 45.5% of turnover after rising 21.0% to RMB256.85 million, but rental income from self-owned business parks declined 14.4% to RMB185.25 million. Business-park operation and management fees dropped 38.0% to RMB53.83 million, while construction, decoration and landscaping revenue plunged 63.1% to RMB68.23 million.

Gross profit contracted 70.9% to RMB28.98 million, slashing the gross margin to 5.1% from 14.2% a year earlier. The deterioration reflected lower average selling prices and additional impairment on completed properties held for sale.

Net loss attributable to shareholders narrowed marginally to RMB754.54 million (1H25: loss of RMB775.54 million), equivalent to a basic loss per share of RMB0.292. The period was weighed down by finance costs of RMB552.31 million (+9.3%), fair-value losses on investment properties of RMB108.19 million, and RMB66.17 million in net other losses, mainly penalties on late payments offset by foreign-exchange gains.

Operating cash flow remained tight. Cash and cash equivalents stood at RMB152.96 million against current interest-bearing borrowings of RMB11.48 billion. Net current liabilities expanded to RMB13.00 billion, and the net-debt-to-equity ratio rose to 314.9% (end-2025: 261.4%). Overdue borrowings totaled RMB7.22 billion at 30 June 2026, triggering cross-default clauses on a further RMB4.21 billion of debt. Management acknowledged “material multiple uncertainties” regarding going-concern status but is pursuing loan extensions, asset disposals and debt restructuring.

Total assets slipped to RMB29.77 billion (end-2025: RMB30.61 billion), with investment properties of RMB14.27 billion remaining the largest non-current asset. Total equity fell to RMB3.57 billion from RMB4.32 billion six months earlier.

The board declared no interim dividend.

Management highlighted ongoing efforts to stabilise project delivery, accelerate asset revitalisation and negotiate with creditors, while noting that the broader mainland property market remains in a “bottoming-out” phase.