Greentown China H1 Revenue Falls 26%, Profit Down 61%

On August 25, 2026, Greentown China held a mid-year results briefing, releasing its first-half financial data. During the period, the company recorded revenue of RMB 39.481 billion, down 26.02% from RMB 55.368 billion in the same period last year. Gross profit stood at RMB 4.388 billion, down 38.71% year on year, with the gross margin falling 2.30 percentage points from 13.41% to 11.11%.

Net profit attributable to shareholders was RMB 81.715 million in the first half, a decline of 61.07% year on year.

On the sales front, contracted sales from self-invested projects reached approximately RMB 60.2 billion in the first six months, with attributable sales of about RMB 40.7 billion. Cumulative total contracted sales amounted to approximately RMB 94.7 billion. The average equity interest in newly acquired projects rose 12 percentage points from the beginning of the period to 81%, with newly added sales value in Beijing, Shanghai, and Hangzhou reaching approximately RMB 32.4 billion, accounting for 71% of the total.

As of the end of June, the company held 149 land reserve projects with a total gross floor area of approximately 22.89 million square meters, of which attributable gross floor area was about 14.34 million square meters. Total sellable area was approximately 15.17 million square meters, with attributable sellable area of about 9.27 million square meters. Among unsold sales value, old inventory from 2021 and earlier amounted to RMB 106 billion, with its share falling below 50% for the first time.

For the second half of the year, the company disclosed sellable sales value from self-invested projects of approximately RMB 125.6 billion, covering 4.39 million square meters, with first- and second-tier cities accounting for 85% of the value. The company plans to launch sales of RMB 17.6 billion in the third quarter and approximately RMB 32 billion in the fourth quarter. Its full-year land acquisition target is RMB 100 billion in sales value.