China Merchants Land H1 revenue falls on lower floor area completion

China Merchants Land

18/08/2026 13:09

Overview
China property developer's H1 revenue fell 21% yr/yr on lower completed floor area
Net loss attributable to owners narrowed slightly from prior year
Gross profit more than doubled, driven by higher-margin projects in Guangzhou and Xian

Outlook
China Merchants Land says its Xi'an business plans to complete delivery and settlement of key profitable projects in Q3
Company says dedicated task forces in lagging regions will expedite approvals and inspections to ensure smooth delivery by year-end

Result Drivers
LOWER COMPLETED FLOOR AREA - Co said revenue decline was due to reduced gross floor area completed and delivered in H1
HIGHER-MARGIN PROJECTS - Co said gross profit margin improvement was driven by high-margin projects delivered in Guangzhou and Xian
REGIONAL POLARISATION - Co said operational performance varied across cities, with Xian outperforming and other cities facing inventory and delivery challenges

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
RMB 3.86 bln
 
H1 Net Loss Attributable
 
RMB 226.9 mln
 

Analyst Coverage
The stock recently traded at 0 times the next 12-month earnings vs. a P/E of 1 three months ago

Reuters Recommended Reads
Aug 17 - China new home prices stagnant in July as demand stays weak
Aug 17 - China's property investment falls 19.2% y/y in first seven months 
Aug 18 - China State Construction H1 profit falls on fewer new projects; cuts dividend

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Press Release s3://eap-prd-eu-west-1-source-content/eap_feed_proxy/fingerpost/HKSW/2026-08-18/40fbb008-f562-45de-8183-a850a0fbb49c.file
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)