Aijian Group disclosed that its wholly-owned subsidiary Aijian Trust recorded a net loss of 1.619 billion yuan in 2025, with the loss widening by 166.72 percent year-on-year. Operating revenue came in at 384 million yuan, down 45.38 percent from a year earlier. The company attributed the sharp revenue decline mainly to three factors: the real estate trust business was hit by the market downturn, and the extension of existing projects led to a significant reduction in trust fees; it proactively tightened risk control policies for local government financing vehicle business, resulting in a smaller business scale; and innovative businesses are still in the incubation stage and have yet to achieve economies of scale. On the profit side, fee income fell by 294 million yuan, credit impairment losses increased by 654 million yuan, and asset impairment losses rose by 362 million yuan, together dragging net profit down by 983 million yuan. On a consolidated basis, credit impairment losses of 1.488 billion yuan were recognized in 2025, up 78.42 percent year-on-year, and asset impairment losses of 403 million yuan were booked, mainly due to declining underlying asset valuations amid the ongoing real estate sector adjustment and slow progress in disposing of risky assets. As of the end of 2025, Aijian Trust had 65 extended trust projects with a total asset balance of 16.664 billion yuan, and seven overdue projects with an asset size of 1.839 billion yuan. The company stated that impairment provisions for contract assets were adequate and prudent, and there were no instances where provisions should have been made in prior periods but were not.
Shanghai AJ Group Co LtdAijian Trust, a wholly-owned subsidiary, reported a net loss of 1.619 billion yuan, widening 166.72% YoY, with revenue down 45.38%, driven by credit and asset impairment losses.