Yanlord Land Group swung to a profit attributable to owners of RMB268 million for the year ended 31 December 2025, reversing a RMB3.42 billion loss a year earlier, as an improved product mix and lower impairment charges lifted margins despite a sharp sales contraction.

The mainland China- and Singapore-focused developer reported revenue of RMB14.37 billion, down 60.5 % year-on-year (YoY). Gross profit rose 16.7 % to RMB4.00 billion, expanding the gross margin to 27.9 % from 9.4 % a year ago as fewer write-downs on completed and in-progress projects offset weaker topline momentum.

Property development accounted for RMB9.77 billion of revenue, a 68.7 % YoY decrease, reflecting lower average selling prices and smaller gross floor area delivered. Income from property investment and hotel operations slipped 4.1 % to RMB1.76 billion, while property management inched up 1.5 % to RMB1.45 billion. The “others” segment, which includes ancillary services, fell 26.3 % to RMB1.39 billion.

Contracted pre-sales, including joint ventures and associates, declined 37.1 % to RMB13.97 billion on 618,512 sq m, with the average selling price easing 6.1 % to RMB22,590 per sq m. Unrecognised contracted sales stood at RMB17.49 billion on 709,270 sq m at end-December, underpinning near-term revenue visibility.

Total debt was broadly stable at RMB23.97 billion, while cash and cash equivalents amounted to RMB7.30 billion. Net gearing edged up 2.3 percentage points to 43.6 %. The average borrowing cost declined to 4.0 % from 4.7 %, helping cut interest paid by 38.7 % to RMB963 million.

Management attributed the earnings turnaround to disciplined cost control, a favourable shift in delivered project mix and higher contributions from associates, which more than offset lower income from joint ventures. They noted that nationwide property indicators—investment, sales and new starts—remained weak in 2025, but said the group will continue to prioritise high-quality project delivery, inventory optimisation and prudent balance-sheet management to navigate “challenging” market conditions and build a platform for future growth.