CIFI Holdings (Group) Co (884) H2 2025 earnings summary

Executive summary

• Delivered over 22,000 property units in 2025, with nearly 300,000 units delivered since 2022.

• Completed holistic offshore and onshore debt restructuring, reducing total indebtedness to RMB50.4 billion, over RMB60 billion lower than the 2021 peak.

• Achieved net profit attributable to equity owners of RMB17.67 billion, reversing prior year losses due to significant gains from debt restructuring.

• Positive net cash from operating activities recorded for four consecutive years.

Financial highlights

• Recognised revenue for 2025 was RMB25,452.0 million, down 46.7% year-over-year.

• Gross profit was RMB1,743.5 million, down 76.3% year-over-year; gross margin fell to 6.9% from 15.4%.

• Net profit attributable to equity owners was RMB17,666.4 million, compared to a net loss of RMB7,075.9 million in 2024.

• Excluding one-off restructuring gains, core net loss attributable to equity owners was RMB8,887.2 million.

• No final dividend declared for 2025.

Outlook and guidance

• Real estate industry expected to remain in an adjustment cycle in 2026, with recovery requiring time.

• Focus will shift to asset management, light asset transformation, and operational efficiency.

• Strategic emphasis on credit repair, cash flow security, and high-quality development in core regions.