Guangdong Land (00124) announced interim results. Profit attributable to shareholders of HK$111 million decreased by 60.6% year-on-year

According to the Zhitong Finance App, Guangdong Land (00124) announced its 2026 interim results. The group achieved revenue of HK$3,532 million, a year-on-year decrease of 38.6%; profit attributable to company owners was HK$111 million, a decrease of 60.6% over the previous year; and a basic profit of HK6.49 cents per share.

According to the announcement, the decrease in revenue was mainly due to a decrease in the total floor area of properties held for sale. The main factors affecting the Group's results for the six months ended June 30, 2026 include: (a) the properties delivered by the Group during the period under review were mainly the Foshan-Yuehai Yiguifu and Guangzhou-Guangdong Yungang City projects; the gross margin of the Guangzhou-Guangdong Yungang City project was high, the total floor area delivered during the review period decreased, and sales profit for the animal industry decreased compared to the same period in 2025; (b) affected by the latest real estate market environment. Based on signs of impairment in some of the Group's property projects, the Group calculated an inventory reduction allowance of about 1.21 during the review period HKD 100 million ( For the six months ended June 30, 2025: HK$768 million); and (c) the Group recorded a fair value loss on investment properties (after deducting related deferred tax expenses) of approximately HK$10.91 million (six months ended June 30, 2025: HK$98.81 million).