Midea Real Estate (03990) announced interim results. Profit attributable to shareholders of 255 million yuan decreased 16.65% year over year

According to the Zhitong Finance App, Midea Real Estate (03990) announced interim results for the six months ended June 30, 2026. The group obtained revenue of 1,882 million yuan, a year-on-year decrease of 5.72%; profit attributable to company owners was 255 million yuan, a year-on-year decrease of 16.65%; and profit per share was 0.18 yuan.

Development services are one of the Group's core business segments. It mainly focuses on the development and management of the entire real estate chain, covering services such as product design, planning and construction, sales and phased development management. During the reporting period, the Group's development service revenue reached 329.6 million yuan, down 34.7% from 504.7 million yuan in the same period last year. Facing market changes and opportunities, we are paying more attention to the quality of development: the quality of outbound projects has improved significantly, and we have expanded 4 third-party residential projects around cities such as Wuxi, Xuzhou, and Guiyang. Among them, Xuzhou Midea's Junlan Yue project adopted an active housing acquisition strategy to reshape the real estate industry credit system and redefine the safe experience of buying a home with real and visible quality.

During the reporting period, revenue from property management services was about 912.7 million yuan, which is basically the same as 930 million yuan in the same period last year. The Group uses the “service+” model to build high-quality development capabilities, empower the urban space service ecosystem, and engage in various fields such as housing, industrial parks, medical care, schools, and commercial offices. During the reporting period, residential property services continued to expand steadily as a basic market, relying on deep development of stock projects and market expansion with third parties to contribute to stable cash flow; industrial park services relied on industrial investment and enterprise support to continue to increase park occupancy rates and became the core business of the non-residential sector. The Group's contract area and area under management are 95.52 million square meters and 84.05 million square meters respectively. In terms of non-residential business, the Group owns a total of 115 projects in the management of industrial parks, medical care, schools and public construction. During the reporting period, 7 new projects worth more than 10 million yuan were signed.