Shui On Land Limited (272) released an announcement indicating that it anticipates a net loss in the range of RMB1.70 billion to RMB1.80 billion for the year ended 31 December 2025, compared with a net profit of RMB180.00 million during 2024. The primary factors cited are a decrease in the fair value of investment properties and impairment provisions for unsold inventories, which together are expected to affect the Group’s total assets by approximately 2% to 3%. Excluding these impacts, the Group projects a profit of core earnings for the same period.
According to the announcement, the revaluation adjustments do not reduce cash flow, and the Group’s net gearing ratio is expected to remain stable at roughly 52%. Total cash and bank deposits at the end of 2025 are estimated to exceed the balance as of 30 June 2025. The final annual results for 2025 are scheduled to be published on 26 March 2026. The announcement also notes continued caution regarding the near-term outlook, given the fragile state of China’s property market and tight overall liquidity within the industry.