Powerlong Commercial Management Holdings Limited (Powerlong CM) reported first-half 2026 revenue of RMB 1.21 billion, down 7.1 % year on year, as softer activity in both core divisions trimmed top-line growth.

Gross profit slid 21.4 % to RMB 318.35 million, pulling the gross margin to 26.3 % from 31.2 % a year earlier. Selling and administrative costs were broadly stable at RMB 45.50 million and RMB 93.02 million respectively, but the lower margin and a RMB 94.74 million impairment charge on financial assets weighed on operating performance. Profit attributable to shareholders decreased 23.6 % to RMB 139.66 million; basic EPS fell to RMB 0.2172 from RMB 0.2843.

Segment performance • Commercial operational services contributed RMB 952.51 million, 9.2 % below the prior-year period. Segment gross margin narrowed to 29.8 % from 34.5 %, reflecting a smaller share of higher-margin activities and reduced sublease income. • Residential property management services generated RMB 256.59 million, a 1.7 % uptick. Segment margin slipped to 13.4 % from 17.3 %, also affected by business-mix changes.

Geographically, the Yangtze River Delta remained the main revenue source, supplying 54.9 % of commercial operational revenue and 12.8 % of residential management turnover.

Portfolio metrics As at 30 June 2026, commercial properties under management totalled 92 projects with 10.6 million sq.m. of GFA in operation, versus 97 projects and 11.1 million sq.m. a year earlier. Contracted commercial GFA stood at 13.2 million sq.m. (–1.0 million sq.m. year on year). Average occupancy across operating malls was 91.3 %. The residential arm managed 23.0 million sq.m. of delivered GFA across 126 projects and held 28.9 million sq.m. in contracted pipeline.

Balance-sheet highlights Cash and bank balances edged up 0.7 % to RMB 4.51 billion. Operating lease and trade receivables rose 3.9 % to RMB 437.61 million, while trade and other payables fell 6.0 % to RMB 1.10 billion. The equity ratio strengthened to 62.6 % from 59.5 % at end-2025.

Capital expenditure for the period was RMB 9.91 million. No interim dividend was declared.

Management outlook Powerlong CM plans to deepen “space plus technology” initiatives, enhance membership-driven customer engagement, and strengthen organisational capabilities in the second half of 2026. No material post-balance-sheet events were disclosed.