China Newcity (01321) has announced its financial results for the six-month period ended June 30, 2026, revealing a swing back to profitability.

The company reported revenue of RMB 366 million, which remained flat compared to the same period last year, while profit attributable to shareholders reached RMB 92.723 million, a stark contrast to the RMB 35.522 million loss recorded in the prior corresponding period. Basic earnings per share stood at RMB 5.03 cents.

This turnaround to a profit was primarily driven by a fair value gain of approximately RMB 264 million on the revaluation of investment properties during the period, compared to a fair value loss of roughly RMB 8.6 million on such properties in the same period of 2025.