Poly Property Group released audited results for the year ended 31 December 2025.
Revenue and Profitability • Revenue grew 20.3% year-on-year to RMB48.38 billion. • Gross profit was RMB8.23 billion, translating to a gross margin of 17.0%. • Profit attributable to shareholders increased 23.2% to RMB0.23 billion; basic earnings per share were RMB5.89 cents. • The Board proposed a final dividend of 2.6 HK cents per share, implying a 40% payout ratio.
Sales and Operating Metrics • Contracted sales reached RMB50.20 billion on 1.624 million sq m, with an average selling price (ASP) of RMB30,917 per sq m. • Recognised property sales contributed RMB46.14 billion on 1.99 million sq m, yielding an ASP of RMB23,164 per sq m. • The Yangtze River Delta and Greater Bay Area together accounted for 75% of contracted sales.
Land Bank and Investments • Fifteen sites were acquired during the year, adding 1.70 million sq m of planned GFA at a total land cost of RMB27.00 billion; 84% of this investment was concentrated in Guangzhou, Shanghai and Hangzhou. • Total land bank stood at 11.88 million sq m (attributable GFA: 9.02 million sq m) as of year-end.
Financial Position • Net operating cash inflow was RMB3.56 billion, marking a third consecutive year of positive operating cash flow. • Cash and bank balances totalled RMB31.16 billion, representing 17.1% of total assets. • Total borrowings (including notes) were RMB70.19 billion; 24% mature within one year, while 58% carry floating interest rates. • Liability-to-asset ratio (excluding presale deposits) improved 1.9 percentage points to 68.6%, placing the company in the regulatory “green zone”. • Average financing cost declined 0.53 percentage point to 2.86%. • Gearing ratio (total liabilities/total assets) eased to 73.7% from 76.6% in 2024.
Investment Properties and Hotels • Investment properties totalled 0.79 million sq m with a carrying value of RMB9.71 billion. • Key assets include Beijing Poly Plaza, Shanghai Poly Plaza and Shenzhen Poly Cultural Plaza; the latter achieved 100% occupancy in 2025. • Hotels such as Hyatt Regency Shanghai Jiading recorded an 81% average occupancy rate.
Capital Expenditure and Guarantees • Pledged assets at year-end amounted to RMB39.35 billion. • Guarantees for home-buyer mortgages totalled RMB13.87 billion, while guarantees for associates and joint ventures stood at RMB3.07 billion.
Workforce • Headcount was 6,442 employees, with total staff costs of RMB1.20 billion for the year.
Outlook (as stated by the company) Management indicates the group will continue to focus on high-tier cities, balance asset-heavy and asset-light strategies, and integrate digital and green initiatives to support high-quality development.