China's Mingfa Group HY loss widens on commercial property market woes

Mingfa (International)

28/08/2026 13:10

Overview
China property developer's interim revenue fell 30.2% yr/yr due to lower GFA delivered
Net loss attributable to equity holders increased 39.8% yr/yr
Company did not recommend an interim dividend for the period

Outlook
Mingfa Group did not provide specific financial guidance or outlook for future periods

Result Drivers
 LOWER PROPERTY DELIVERIES – Revenue declined as GFA delivered to buyers fell to 256,442.1 sq.m. from 418,551.9 sq.m., while gross margin narrowed to 18.2% from 23.6%
COMMERCIAL PROPERTY REVALUATIONS – Fair-value losses on investment properties rose to RMB443.4 mln, mainly due to declining commercial-property market values
LOWER SALES COMMISSIONS – Selling and marketing costs fell 58.8% to RMB82.1 mln, mainly due to lower sales commissions

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
RMB 1.90 bln
 
H1 Net Loss Attributable
 
RMB 381.70 mln
 

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Press Release s3://eap-prd-eu-west-1-source-content/eap_feed_proxy/fingerpost/HKSW/2026-08-28/39fa3781-c209-44d3-a062-fc9398f6a7ef.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.)