Guangdong Land Holdings (124) H1 2025 earnings summary

Executive summary

• Revenue for the six months ended 30 June 2025 surged 105.1% year-over-year to HK$5,751.8 million, driven by increased property sales volume and higher-margin projects such as Guangzhou GDH Future City, Huizhou One Mansion, and Shenzhen GDH City (Northern Land).

• Net profit attributable to owners was HK$282.1 million, reversing a loss of HK$217.0 million in the prior year period.

• Gross profit rose sharply to HK$2,062.8 million from HK$115.9 million, reflecting improved project mix and cost control.

• The Group focused on property development and investment in the Greater Bay Area, with major projects in Shenzhen, Guangzhou, Foshan, Zhuhai, Zhongshan, Jiangmen, and Huizhou.

• No interim dividend was declared for the period.

Financial highlights

• Operating profit reached HK$987.4 million, compared to an operating loss of HK$104.4 million a year earlier.

• Basic earnings per share were HK16.48 cents, up from a loss per share of HK12.68 cents.

• Net asset value per share increased 9.6% to HK$2.28 as of 30 June 2025.

• Return on equity improved to 7.6% from -4.4% year-over-year.

• Cash and bank balances stood at HK$3,174 million, down 7% from year-end.

Outlook and guidance

• The Group expects continued policy support for the real estate sector and stable demand in core cities of the Greater Bay Area.

• Projects in key cities are expected to benefit from ongoing urbanization and government initiatives.

• The Group will focus on completing, selling, and operating existing projects, and selectively pursue new high-quality opportunities.