China's Shimao Group H1 revenue falls 26% on lower property sales

Shimao group

28/08/2026 10:25

Overview
China property developer's interim revenue fell 26% yr/yr due to lower delivered floor area
Net loss attributable to equity holders narrowed to RMB6.19 bln
Company faces material uncertainties over going concern due to high borrowings and litigation

Outlook
Shimao Group says China's property market recovery remains weak, buyer confidence slow
Hong Kong High Court will hold the first hearing on a winding-up petition against Shimao Group on Nov. 11, 2026
Shimao commercial to focus on quality, flexible strategies, and expanding light-asset businesses in H2

Result Drivers
LOWER PROPERTY SALES - Co said revenue decline was mainly due to decreased delivered floor area, reflecting reduced contracted sales in recent years
COMMERCIAL PROPERTY PRESSURE - Co said commercial properties operation income dropped due to lower average rental levels and reduced leasable area from asset disposals
NARROWED NET LOSS - Co said net loss narrowed mainly due to decreased gross loss and lower provision for impairment on financial assets

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
RMB 10.96 bln
 
H1 Net Loss Attributable
 
RMB 6.19 bln
 

Analyst Coverage
The one available analyst rating on the shares is "sell"
The average consensus recommendation for the real estate rental, development & operations peer group is "buy."

Reuters Recommended Reads
Aug 28 - China's Shimao Services swings to interim net loss as revenue falls
Aug 28 - China's Yuexiu Property H1 revenue falls 23%, profit drops sharply
Aug 27 - Chinese Property developer C&D International H1 revenue falls on lower property deliveries

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Press Release s3://eap-prd-eu-west-1-source-content/eap_feed_proxy/fingerpost/HKSW/2026-08-28/678dc60b-03fc-440c-8afd-1650b76513a7.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.)