Country Garden (02007) announced its 2025 annual results, reporting total revenue of approximately RMB 154.89 billion. The company achieved a net profit of around RMB 1.62 billion, with net profit attributable to shareholders of approximately RMB 3.261 billion, marking a turnaround from a loss to a profit compared to the previous year. During the year, the company completed the delivery of approximately 170,000 housing units, with a total delivered construction area of about 19.82 million square meters, spanning 204 cities across 28 provinces.

At the operational level, the company has consistently prioritized maintaining stable and sustainable operations, supported by a united and stable core management team. In 2025, the group, together with its joint ventures and associates, achieved contracted sales attributable to shareholders' equity of approximately RMB 33.01 billion, corresponding to a contracted sales gross floor area of about 4.02 million square meters.

The company continued to optimize its organizational structure and expense control. Combined administrative expenses and marketing and promotion costs decreased by 15.7% year-on-year, reflecting continuous improvements in operational efficiency. In sales, the company adhered to a tailored "one project, one strategy" approach, setting reasonable sales prices and supply plans based on local market conditions and the specific asset and liability situations of each project. This strategy aims to maximize asset value while maintaining a reasonable sales pace and preparing for the sale of completed properties.

Building on the experience gained from ensuring housing delivery, the company will drive a comprehensive operational transition, gradually returning to normal operations while maintaining positive operating cash flow. The ultimate goal is to achieve dual positivity in both overall cash flow and profit. To this end, headquarters and regional teams will collaborate to enhance mechanisms, systematically strengthen talent development, and rebuild core capabilities to navigate market cycles. The company remains committed to exploring a "second startup" path based on practical conditions, ensuring the effective implementation of all initiatives.

Significant progress has been made in stabilizing liabilities: an overseas debt restructuring plan involving approximately USD 17.7 billion officially took effect on December 30, 2025. Meanwhile, the restructuring of domestic debt totaling about RMB 13.77 billion, involving nine bonds, has been fully approved. Post-restructuring, the cost of newly added debt financing has decreased significantly, with maturities substantially extended. This provides a critical strategic window for the company to operate with reduced burdens over the next five years.