SUNAC (01918) has announced its annual results for the period ending December 31, 2025. The company recorded revenue of 45.12 billion yuan, representing a decrease of 39% compared to the previous year. The loss attributable to the company's owners was 12.329 billion yuan, which narrowed by 52% year-on-year. The basic loss per share was 1.14 yuan.

The decline in annual revenue was primarily due to a decrease in revenue from property sales. For the year ended December 31, 2025, revenue from property sales was approximately 33.05 billion yuan, accounting for about 73.3% of the total revenue. This year's property sales revenue decreased by approximately 28.18 billion yuan (about 46.0%) compared to the year ended December 31, 2024. This was mainly caused by a reduction in the area of properties delivered and a decline in the average selling price.

In recent years, the real estate sector has experienced a continuous downturn, with the overall sales market contracting significantly. Furthermore, debt issues emerging successively among certain real estate developers have undermined homebuyers' confidence in pre-sale properties, further exacerbating difficulties in new home sales. Under liquidity pressure stemming from the contraction in new sales volume and the narrowing of external financing channels, the progress of delivering sold property projects and the pace of developing and launching new projects have been temporarily constrained.

In 2025, the area of properties delivered decreased by approximately 1.07 million square meters (about 23.1%) compared to the previous year. Additionally, the average selling price of projects for which revenue was recognized this year fell by about 29.8% compared to the prior year. These factors collectively led to a significant year-on-year decline in the group's sales revenue for the year.