Riverine China Holdings Limited reported a solid rebound for the six months ended 30 June 2026, driven by resilient property-management demand and stable expansion of its urban sanitation footprint.
Financial Performance • Revenue climbed 3.8% year-on-year to RMB 536.56 million, underpinned by a 8.5% rise in property-management and sanitation income. • Gross profit improved 5.2% to RMB 57.91 million; gross margin edged up 0.2 ppt to 10.8 %. • Net profit surged 472.8% to RMB 10.72 million, lifting the net margin to 2.0% (1H25: 0.4%). • Basic earnings per share reached RMB 0.02; the Board announced a first-ever interim dividend of HKD 0.02 per share.
Segment Breakdown • Property-management services contributed 69.8% of total revenue (RMB 375.09 million), with 89.1% generated from non-residential projects. • Urban sanitary services accounted for 27.0% of revenue at RMB 144.61 million. • Catering and investment-property sub-leasing provided 0.7% and 1.4% of revenue respectively, reflecting a strategic pivot toward core operations.
Cost & Expense Trends • Cost of services rose 3.6% to RMB 478.65 million, broadly in line with top-line growth. • Selling and distribution expenses dropped 40.1% to RMB 13.03 million on lower catering-related costs, while administrative expenses increased 22.3% to RMB 44.48 million owing to new office setup and relocation.
Balance-Sheet Highlights • Total assets stood at RMB 949.48 million; cash and cash equivalents were RMB 125.34 million. • Interest-bearing borrowings dipped to RMB 308.39 million; gearing ratio rose to 148.7% (FY25: 147.1%) amid higher average bank debt. • Current ratio remained stable at 1.0x and the group maintained a net cash position.
Cash Flow • Operating activities consumed RMB 44.54 million, primarily from working-capital movements. • Capital expenditure totaled RMB 5.38 million, while investing activities generated a net RMB 6.20 million, aided by dividend inflows from associates. • Financing outflows reached RMB 15.10 million after loan repayments and interest costs.
Management Outlook Management reiterated a focus on high-end non-residential property management and integrated urban sanitation services, targeting coastal and Yangtze River economic zones. Expansion will be undertaken prudently, prioritising synergistic acquisitions and technology-driven initiatives such as the proprietary “Dynamic Building Matrix” smart-building platform. No material post-period events or major M&A transactions were reported.
Governance & Other Updates The Board underwent leadership changes on 20 September 2026 with Mr Sun Taoyong assuming the chairmanship. The company remains in compliance with Hong Kong’s CG Code, and no director dealings contravened the Model Code during the period.