Poly Property Group Co., Limited (Poly Property) disclosed that its wholly-owned subsidiary, Shanghai Poly Property, generated operating revenue of RMB 2.27 billion for the three months ended 31 March 2026, down 68.1% year on year from RMB 7.11 billion. Net profit declined 77.8% to RMB 43.24 million (Q1 2025: RMB 195.15 million), while net profit attributable to the parent fell 58.2% to RMB 45.25 million.

Operating profit contracted to RMB 54.47 million, representing a 79.6% decrease from the prior-year period’s RMB 266.50 million. Consequently, the operating margin narrowed to 2.4% from 3.8%, and the net margin slipped to 1.9% from 2.7%.

As at 31 March 2026, total assets edged up 0.9% quarter on quarter to RMB 167.26 billion. Total liabilities rose 0.9% to RMB 134.18 billion, leaving the debt-to-asset ratio broadly stable at 80.2%. Total equity improved 1.2% to RMB 33.08 billion. Bank balances, deposits and cash remained largely unchanged at RMB 26.86 billion, equivalent to 16.0% of total assets.

The financial data were prepared under China Accounting Standards for Business Enterprises and are unaudited.