C&D International Investment Group (1908) H1 2025 earnings summary

Executive summary

• Revenue for the six months ended 30 June 2025 was RMB34.16 billion, up 4.3% year-over-year, with property development contributing 94.1% of total revenue.

• Gross profit increased 12.8% to RMB4.40 billion, and profit attributable to equity holders grew 11.8% to RMB0.91 billion.

• The Group's main business remains property development, with property management and related services contributing a growing share.

• Cumulative contracted sales attributable to shareholders reached RMB53.35 billion, up 4.9% year-over-year, though attributable GFA sold decreased 18.4%.

• No interim dividend was declared for the period.

Financial highlights

• Property development revenue reached RMB32.14 billion, up RMB1.13 billion year-over-year, accounting for 94.1% of total revenue.

• Gross profit margin improved to 12.89% from 11.92% a year earlier.

• Net profit for the period was RMB1.50 billion, up from RMB1.44 billion in the prior year.

• Basic EPS was 48.09 RMB cents, up from 47.30 RMB cents; diluted EPS was 45.18 RMB cents, up from 42.95 RMB cents.

• Cash at banks and on hand stood at RMB56.26 billion as of 30 June 2025.

Outlook and guidance

• The company will focus on stabilizing scale and profits, accelerating inventory turnover, and enhancing sales quality in the second half of 2025.

• Investment will prioritize liquidity, risk control, and profitability, with a focus on core regions and diversified expansion.

• Continued emphasis on product innovation, flagship project execution, quality upgrades, and supply chain efficiency to support sustainable growth.