Sunac China (01918) announced interim results. Shareholders' losses of 12.543 billion yuan decreased by 2.08% year-on-year

According to the Zhitong Finance App, Sunac China (01918) announced interim results for the six months ended June 30, 2026. The group obtained revenue of RMB 16.349 billion (same unit), a year-on-year decrease of 18.2%; losses attributable to the company's owners amounted to RMB 12.543 billion, a year-on-year decrease of 2.08%; and a loss of 0.77 yuan per share.

According to the announcement, the decline in revenue during this period was mainly due to a decline in property sales revenue. In the six-month period ended June 30, 2026, property sales revenue was approximately $10.90 billion, accounting for about 66.6% of total revenue, a decrease of about $3.10 billion (about 22.1%) compared to the six-month period ending June 30, 2025, mainly due to the decline in property delivery area. In recent years, the real estate industry has continued to decline, and the overall sales market has shrunk sharply, and debt problems that have arisen one after another in some real estate companies have caused buyers to lack confidence in off-plan homes, further exacerbating the difficulties of selling new homes. Liquidity pressure brought about by the contraction in the scale of new sales and the narrowing of external financing channels caused phased restrictions on the delivery schedule of sold property projects and the pace of development and promotion of new projects. The property delivery area decreased by about 573,000 square meters (about 33.8%) compared to the six-month period ending June 30, 2025, which led to a sharp drop in the Group's sales revenue during this period compared to the same period last year.

In the first half of 2026, the Group's contract sales amount with its joint ventures and joint ventures was approximately $10.25 billion, a decrease of about 56.5% compared to the same period last year. At the end of June 2026, the Group, together with its joint ventures and joint ventures, had a total land reserve of about 104 million square meters (equity land reserve of about 72.62 million square meters), of which the unsold land reserve was about 86.111 thousand square meters (unsold equity land reserve was about 585.94 million square meters).

In the first half of 2026, the Group's property management division Sunac Services Holdings Co., Ltd. (Sunac Services, stock code: 01516.HK) showed steady and positive business performance. In the first half of 2026, Sunac Services achieved revenue of about 3.22 billion yuan, down about 9% from the same period last year. Excluding the impact of the sale of shares in Zhangtai Service Group Co., Ltd. (Zhangtai Services) in 2025, revenue decreased slightly by 2% compared to the same period last year. Sunac Services operated in a refined manner, and gross margin stabilized (excluding the impact of the sale of Zhangtai Services); the organizational structure was continuously optimized and adjusted, and the management rate decreased by 1.2 percentage points compared to the same period last year. Profit attributable to Sunac Service owners reached about 120 million yuan, an increase of about 2% over the same period last year. Excluding the impact of the sale of Changtai Services, an increase of about 71% over the same period last year. The net operating cash flow of Sunac Services improved year-on-year, and the available capital reached approximately $3.29 billion. In the first half of 2026, Sunac Services will focus on key industrial office formats and expand leading customers in potential circuits such as chip manufacturing, computing power centers, and data centers. At the end of June 2026, Sunac Services managed a construction area of about 260 million square meters.