China Merchants Shekou Industrial Zone Holdings

China Merchants Shekou released its 2026 interim report. Total operating revenue was 54.784 billion yuan, up 6.41% year-on-year. Net profit attributable to the parent company was 528 million yuan, down 63.54% from the same period last year. Net cash inflow from operating activities was 24.135 billion yuan, an increase of 26.141 billion yuan year-on-year. The company's asset-liability ratio was 67.38%, gross margin was 13.29%, return on equity was 0.54%, and diluted earnings per share was 0.06 yuan. The number of shareholders was 91,900, and the top ten shareholders held 69.47% of the total share capital.

China Merchants Shekou published its 2026 interim report. First-half net profit attributable to the parent fell 63.5% year-on-year to 528 million yuan, while operating revenue rose 6.4% to 54.78 billion yuan. Net profit attributable to the parent after deducting non-recurring items was 63.04 million yuan, down 93.4% year-on-year. Net operating cash flow was 24.135 billion yuan, up 1,303.2% year-on-year, and earnings per share were 0.0586 yuan. In the second quarter, operating revenue was 31.12 billion yuan, up 0.3% year-on-year, and net profit attributable to the parent was 489 million yuan, down 51.2% year-on-year. As of the end of the second quarter, total assets were 836.602 billion yuan, up 0.1% from the end of the previous year, and net assets attributable to the parent were 97.463 billion yuan, down 0.2% from the end of the previous year. The company said that during the reporting period it focused on three types of business: development operations, asset operations and property services, and promoted transformation and upgrading through a strategy of comprehensive focus, driving quality and efficiency together, and achieving win-win outcomes across asset-heavy and asset-light models, in order to respond to market changes and industry challenges.

Zhao Haifeng, general manager of China Merchants Shekou's Zhejiang company, has been removed from his post and is under investigation by relevant authorities over allegations that he assaulted a woman at a business dinner in Hangzhou. On August 18, Red Star Capital called China Merchants Property Development Hangzhou Company, and a staff member said the matter was not yet clear to them, but that an announcement would definitely be issued later, including information such as the removal from post. China Merchants Hangzhou Company is a wholly owned subsidiary of the listed company China Merchants Shekou, established in December 2013, with registered capital and paid-in capital both at 1.6 billion yuan. Zhao Haifeng is the company's legal representative, director, and manager. Tianyancha data shows that Zhao Haifeng is associated with 23 companies, most of which are involved in real estate-related businesses, and some of which have been deregistered.

China Merchants Shekou's wholly-owned subsidiary, China Merchants Venture, plans to provide an interest-free loan of up to 51.03 million yuan to its associate company, China Merchants Libao, using its own funds in proportion to its 50% equity stake. The loan term is eight years with a zero percent interest rate. The matter was disclosed by China Merchants Shekou in an announcement on August 6. In the first quarter of 2026, China Merchants Shekou achieved revenue of 23.667 billion yuan and net profit attributable to the parent company of 39.12 million yuan.

China Merchants Shekou Industrial Zone Holdings issued an announcement, expecting net profit attributable to the parent for the first half of 2026 to be approximately 500 million to 650 million yuan, a year-on-year decline of 55% to 65%. During the reporting period, the area of the company's real estate projects completed, delivered, and carried forward increased year-on-year, but the carried-forward gross margin of the real estate business declined year-on-year, the carried-forward gross profit decreased year-on-year, and the company's investment income decreased year-on-year. In the first quarter of 2026, China Merchants Shekou Industrial Zone Holdings achieved revenue of 23.667 billion yuan, with net profit attributable to the parent of 39.12 million yuan.

China Merchants Shekou has issued its 2026 half-year performance forecast, estimating net profit attributable to shareholders of the listed company for the first half at 500 million to 650 million yuan, a decline of 55% to 65% from the 1.448 billion yuan recorded in the same period last year. Net profit after deducting non-recurring gains and losses is expected to be 50 million to 70 million yuan, down 93% to 95% year-on-year. The company stated that the profit decline was mainly due to a year-on-year drop in the gross margin of property development carryovers, leading to a reduction in carried-over gross profit, as well as a year-on-year decrease in investment income. On the same day, the company disclosed its 2025 profit distribution plan, proposing to distribute a cash dividend of 0.5110 yuan per 10 shares to all shareholders, based on a total share capital of 9,016,032,171 shares.