Nanjing Chixia Development Co Ltd

Qixia Construction released its 2026 interim report. Total operating revenue was 782 million yuan, down 3.062 billion yuan or 79.67% year-on-year. Net profit attributable to the parent company was negative 627 million yuan, a decrease of 694 million yuan or 1,048.00% year-on-year, swinging from profit to loss. Net cash flow from operating activities was negative 148 million yuan, down 183.83% year-on-year. The company's asset-liability ratio rose to 95.11%, gross margin was 13.18%, return on equity was negative 88.08%, and diluted earnings per share was negative 0.60 yuan. The number of shareholders was 31,500, and the top ten shareholders held 52.12% of the total share capital.

Qixia Construction disclosed its earnings forecast, expecting a net loss attributable to shareholders of 500 million to 700 million yuan in the first half of 2026, compared with a profit of 66.1839 million yuan in the same period last year. The net loss after deducting non-recurring items is expected to be 504 million to 705 million yuan, versus a profit of 61.5689 million yuan a year earlier. The company explained that the change in performance is mainly due to the concentrated completion and delivery of multiple projects in the prior-year period, which boosted sales revenue, while fewer projects were completed and delivered in the current reporting period. At the same time, affected by the overall real estate market conditions, the company continued to make inventory impairment provisions for some projects.