China Aoyuan Group Limited reported a RMB 6.27 billion net loss attributable to shareholders for the six months ended 30 June 2026, an improvement of 28.9% from the RMB 8.81 billion loss in the prior-year period. Total comprehensive loss narrowed to RMB 6.27 billion from RMB 8.87 billion.
Revenue fell 17.1% year on year to RMB 3.70 billion, driven by a 6.0% decline in property development income to RMB 3.60 billion and reduced hotel and other revenues. Impairments on properties for sale totalled RMB 1.51 billion, leaving a gross loss of RMB 1.44 billion; excluding these write-downs, gross profit stood at RMB 64 million, down 78.1%.
Contracted sales in the first half were RMB 864 million on 84,700 sq m of GFA, with the Bohai Rim region contributing 37% by value. The company’s landbank in the Guangdong-Hong Kong-Macao Greater Bay Area measured 4.84 million sq m (3.55 million sq m attributable) at period-end.
Total assets amounted to RMB 118.13 billion versus RMB 128.22 billion at end-2025. Total liabilities were RMB 170.27 billion, resulting in negative equity of RMB 52.14 billion. The current ratio slipped to 0.6 from 0.7. Net gearing rose to 404.0% from 287.9%.
Interest-bearing debt comprised RMB 46.09 billion in bank and other borrowings and RMB 24.55 billion in senior notes and onshore/offshore bonds. Short-term maturities totalled RMB 69.75 billion. Cash and restricted deposits stood at RMB 1.35 billion, of which unrestricted cash was RMB 0.21 billion.
The group provided guarantees totalling RMB 57.95 billion for mortgages and borrowings of joint ventures, associates and third parties, and held construction commitments of RMB 9.68 billion, with an additional RMB 2.74 billion relating to joint ventures.
Operating cash outflow was RMB 0.01 billion; investing activities generated RMB 0.09 billion, while financing activities used RMB 0.06 billion.
During the half, China Aoyuan issued 63.63 million new shares to scheme creditors under its 2024 offshore debt restructuring mandate and 54.32 million shares upon conversion of US$4.61 million in mandatory convertible bonds. As of 30 June 2026, US$76.32 million of these bonds remained outstanding, convertible into up to 905.63 million shares. No share repurchases occurred, and no interim dividend was declared.
Looking ahead, management will accelerate onshore and offshore debt restructuring, prioritise property deliveries, enhance sales and cost control, and pursue asset-light opportunities in project management and urban renewal.
Post-period, on 30 July 2026 the board appointed Ms Chong Mei Lin as company secretary and authorised representative, replacing Ms Wong Mei Shan.