China Resources Land: Shareholders' attributable profit of RMB 25.42 billion in 2025 | Financial Highlights

On March 30, China Resources Land released its 2025 annual performance announcement.

The announcement shows that in 2025, the company achieved total contracted revenue of RMB 281.44 billion, up 0.9% year over year. Of this, revenue from the development and sales segment was RMB 238.16 billion; revenue from the operating real estate rental segment was RMB 25.44 billion; and revenue from the light-asset management and fee-based segment was RMB 17.83 billion. Total recurring business income was RMB 43.28 billion, up 3.7% year over year, accounting for 15.4% of total revenue.

During the period, the consolidated gross margin was 21.2%. Of this, the gross margin for the development and sales segment was 15.5%; the gross margin for the operating real estate rental segment was 71.8%, improving by 1.8 percentage points year over year. The operations and management efficiency improvement of China Resources Mixc Lifestyle drove the gross margin up by 2.5 percentage points year over year to 35.5%.

For the reporting period, profit attributable to shareholders was RMB 25.42 billion. After deducting the fair value gain from investment properties recognized during the year and adding back the realized cumulative fair value gain from the disposal of certain investment property projects during the year, the core profit attributable to shareholders (hereinafter referred to as “core net profit”) was RMB 22.48 billion. Of this, core net profit from recurring business reached RMB 11.65 billion. The contribution proportion of core net profit increased by 11.2 percentage points year over year to 51.8%.

The report shows that in 2025, the Group achieved property contracted sales of RMB 233.60 billion, ranking third in the industry, with contracted GFA of 9.22 million square meters. By the end of 2025, the Group had locked in contracted but yet-to-be-settled revenue of RMB 164.58 billion, of which RMB 123.48 billion is expected to be settled in 2026.

During the reporting period, the Group added 3.39 million square meters of planned GFA in terms of floor area capacity for land reserves. By the end of 2025, the Group’s total land reserves were approximately 46.73 million square meters.

By the end of 2025, the Group’s total borrowings were RMB 281.47 billion. Cash and bank balances were RMB 116.99 billion. The net interest-bearing liabilities ratio was 39.2%. The weighted average cost of debt financing decreased by 39 basis points from the end of 2024 to 2.72%, maintaining the lowest level in the industry.