Beijing Dalong Weiye Real Estate Development Co Ltd

Dalong Real Estate released its 2026 interim report. During the reporting period, the company's total operating revenue was 151 million yuan, down 51.47 percent year on year. Net profit attributable to the parent company was a loss of 34.1879 million yuan, with the loss widening compared with the same period last year, a decrease of 23.4311 million yuan from a year earlier. Net cash flow from operating activities was negative 137 million yuan, a decrease of 18.6531 million yuan from the same period last year. The company's asset-liability ratio was 48.18 percent, up 4.53 percentage points from a year earlier. Gross margin was 3.16 percent, down 9.89 percentage points from a year earlier. Return on equity was negative 2.38 percent, down 1.75 percentage points from a year earlier. Diluted earnings per share were negative 0.04 yuan, down 0.03 yuan from a year earlier. Total asset turnover was 0.05 times, down 46.86 percent year on year. Inventory turnover was 0.09 times, down 38.57 percent year on year. The company had 28,600 shareholders, and the top ten shareholders held 53.44 percent of the total share capital.

Dalong Real Estate disclosed an earnings forecast, expecting a net loss attributable to the parent of 25 million to 37 million yuan in the first half of 2026, compared with a loss of 10.7568 million yuan in the same period last year. The net loss after deducting non-recurring items is expected to be 23 million to 34 million yuan, compared with a loss of 12.26 million yuan a year earlier. The company stated that the real estate segment was affected by the market environment, with declines in sales revenue and project settlement margins, while the construction segment had limited revenue scale from new and existing projects, resulting in low total gross profit. Based on the latest closing price, the company's price-to-book ratio is about 1.3 times, and its price-to-sales ratio is about 3.4 times.