Guangdong Land Holdings (124) Q3 2025 earnings summary

Executive summary

• Revenue for the nine months ended 30 September 2025 rose 66.4% year-over-year to HK$6,728 million, driven by increased sales of gross floor area in properties held for sale.

• Loss attributable to owners narrowed significantly to HK$16 million from HK$191 million in the prior year period.

• Key projects delivered included Guangzhou GDH Future City, Huizhou One Mansion, and Foshan Laurel House, with the Guangzhou project contributing higher gross profit margins.

Financial highlights

• Gross profit surged 1,000.6% year-over-year to HK$2,397 million.

• Fair value losses on investment properties increased 283.8% to HK$132 million.

• Inventory impairment provision of HK$1,097 million was recognized due to market conditions and project impairments.

• Total assets decreased 12.7% to HK$35,400 million as of 30 September 2025.

• Equity attributable to owners rose 1.0% to HK$3,594 million; net asset value per share increased to HK$2.10.

Outlook and guidance

• Revenue recognition for HK$6,510 million in contracted but undelivered property sales is expected upon delivery.