Poly Leads Guangzhou H1 2026 Sales at RMB 25.1 Billion; Yuexiu at RMB 21.17 Billion, Wins Three Land Auctions

As of the first half of 2026, Poly Developments and Yuexiu Property recorded flow sales of RMB 25.10 billion and RMB 21.17 billion respectively, ranking first and second in the Guangzhou market. The two companies faced off four times in Guangzhou land auctions, with Yuexiu winning three and losing one.

In February, the Zhujiang New Town Racecourse plot attracted 243 bidding rounds, and a Yuexiu Group subsidiary won it for RMB 23.6 billion. That total price ranks second in Guangzhou land sale history and is the highest since 2010. On June 15, the Baiyun Huangbian North Road plot went through 27 rounds, and Poly won it for RMB 1.349 billion, a premium rate of 23.87%. On June 30, the Pazhou Middle Zone 2 plot saw 88 rounds, and Yuexiu won it for RMB 1.375 billion, a premium of 46.28%. On July 20, the Baiyun Zhengzheng Road West plot had 15 rounds, and Yuexiu won it for RMB 1.012 billion, a premium of 16.05%.

Yuexiu Property acquired three plots this year in the three core central districts of Tianhe, Haizhu and Baiyun, investing heavily only in the Guangzhou open market. Outside Guangzhou, it made only small land purchases in Shanghai and Chengdu and participated in a Hangzhou project through a joint venture. Poly Developments secured only two plots in Guangzhou's public auction market in the first half, located in Baiyun and Huadu, with total land cost exceeding RMB 2 billion. In the first seven months, Poly's land auction spending approached RMB 50 billion, with a focus on Shenzhen, Shanghai, Hangzhou, Zhongshan and Sanya.

Poly Developments' cumulative contracted area from January to June 2026 was 6.3194 million square meters, down 11.44% year-on-year; cumulative contracted amount was RMB 135.106 billion, down 6.93% year-on-year. Poly holds multiple pending projects in Guangzhou, including Xiancun Poly Tianyu, the Financial City flour mill plot, and the Pazhou South plot, with ample stock value reserves.