China's Midea Real Estate interim revenue falls, hurt by real estate technology

Midea Real Estate Holding

10/08/2026 14:19

Overview
China property developer's interim revenue for six months ended June 30 fell 5.7% yr/yr
Net income attributable to owners for the period declined 16.7% yr/yr
Gross profit margin improved to 33.5% from 30.8% in prior year

Result Drivers
SEGMENT DECLINES - Co said revenue from real estate technology dropped 71.6% yr/yr and project management services revenue fell 34.7% yr/yr
ASSET OPERATION GROWTH - Asset operation revenue more than doubled yr/yr, partially offsetting declines in other segments
MARGIN IMPROVEMENT - Gross profit margin rose to 33.5% from 30.8% in prior yr

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
RMB 1.88 bln
 
H1 Net Income Attributable
 
RMB 254.59 mln
 

Analyst Coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the real estate rental, development & operations peer group is "buy."
Wall Street's median 12-month price target for Midea Real Estate Holding Ltd is HK$4.30, about 61.7% above its August 10 closing price of HK$2.66
The stock recently traded at 5 times the next 12-month earnings vs. a P/E of 5 three months ago

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(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.)