Qixia Construction released its 2026 interim report on August 26. During the reporting period, the company achieved operating revenue of 781 million yuan, down 79.69 percent year on year. Net profit attributable to the parent company was negative 627 million yuan, swinging from a profit in the same period last year to a substantial loss. Net profit after deducting non-recurring items was negative 632 million yuan. Affected by a decline in sales collections, net cash flow from operating activities was negative 148 million yuan, turning from positive to negative. As of the end of the reporting period, the company's total assets were approximately 15.277 billion yuan, net assets attributable to shareholders of the listed company fell to 712 million yuan, and the asset-liability ratio rose to 95.11 percent. The core reason for the sharp decline in performance was the recognition of inventory impairment provisions totaling approximately 534 million yuan for four projects, namely Nanjing Xingye Happy Garden, Banshan Yuefu, Yanshang Yuefu, and Qiyue Bay, as well as an increase in expensed interest costs to 118 million yuan. In addition, losses from the associated company Palm Eco-Town Development brought investment losses of approximately 25.78 million yuan.
Nanjing Chixia Development Co LtdCompany reports large impairment provisions and net loss, causing significant financial deterioration.
Palm Landscape Architecture Co LtdAssociated company's losses contribute to Qixia's investment losses, indicating financial weakness.
