Guangdong Land Holdings (124) Q1 2025 earnings summary

Executive summary

• Revenue for the three months ended 31 March 2025 was HK$759 million, down 56.4% year-over-year due to lower property sales volume.

• Loss attributable to owners increased to HK$154 million from HK$99.75 million in the prior year period.

• Gross profit declined 40.1% to HK$50.74 million, reflecting reduced profitability from property sales.

Financial highlights

• Revenue fell to HK$759 million from HK$1,741 million year-over-year.

• Gross profit dropped to HK$50.74 million from HK$84.70 million.

• Fair value losses on investment properties were HK$4.83 million, compared to a gain of HK$0.19 million last year.

• Loss attributable to owners rose 54.4% to HK$154 million.

• Total assets decreased 1.4% to HK$40,009 million as of 31 March 2025.

Segment performance

• Contracted GFA for the period was 49,000 sq. m., down from 58,000 sq. m. last year.

• Delivered GFA was 47,000 sq. m., a decrease from 79,000 sq. m. in the prior year.

• Major projects in Shenzhen, Guangzhou, Foshan, Zhuhai, Zhongshan, Jiangmen, and Huizhou are at various stages of completion and sales.