Tibet Urban Development and Investment Co Ltd

Tibet Urban Development Investment disclosed its 2026 semi-annual report, with total operating revenue of 221 million yuan in the first half, down 70.29% year-on-year. Net profit attributable to the parent company was a loss of 68.77 million yuan, compared with a loss of 64.12 million yuan in the same period last year. Net profit after deducting non-recurring items was a loss of 72.24 million yuan, compared with a loss of 66.01 million yuan a year earlier. Net cash flow from operating activities was negative 206 million yuan, versus negative 320 million yuan in the prior-year period. Basic earnings per share were negative 0.072 yuan, and the weighted average return on equity was negative 1.62%.

Tibet Urban Development announced that Deputy General Manager Chen Chen resigned on July 29 due to a job adjustment, and will no longer hold any position in the company or its controlled subsidiaries. In the first quarter of 2026, Tibet Urban Development achieved revenue of 65.02 million yuan, with a net loss attributable to the parent company of 53.04 million yuan.

Tibet Urban Development disclosed a performance forecast, expecting a net loss attributable to the parent of 65 million yuan in the first half of 2026, compared to a loss of 64.1211 million yuan in the same period last year. The net loss after deducting non-recurring items is expected to be 69 million yuan, compared to a loss of 66.0149 million yuan in the same period last year. The company stated that the expected loss is mainly due to the overall deep adjustment of the real estate market and cyclical fluctuations in the industry. The area delivered and recognized as revenue in the current period decreased significantly compared to the same period last year, leading to a sharp decline in revenue, which was insufficient to cover rigid costs such as management expenses, financial interest expenses, and depreciation and amortization of existing projects. The company will subsequently focus on destocking existing properties and accelerate the implementation of the strategy of innovation-driven development and transformation, actively promoting transformation and upgrading.