Greenland Hong Kong's 2025 revenue is 12.322 billion yuan, with a loss of 2.5 billion yuan this year.

Viewpoint News: On March 29, Greentown Hong Kong released its 2025 annual results announcement.

The announcement shows that in 2025, Greentown Hong Kong recorded total revenue of RMB 12.322 billion, down 19.3% year over year; the company incurred a loss of RMB 2.506 billion during the year, compared with RMB 2.286 billion for the same period last year; loss attributable to owners of the company was RMB 2.293 billion, up approximately 9.2% year over year; and basic loss per share was RMB 0.83.

Greentown Hong Kong said that the revenue decline was mainly related to a reduction in the scale of revenue recognition. During the year, sales revenue from properties was approximately RMB 11.234 billion, down about 20% from approximately RMB 14.105 billion in the prior year, accounting for approximately 91% of total revenue; property management and other services revenue was RMB 730 million, rental income was RMB 289 million, and hotel and related services revenue was RMB 69.0 million. Meanwhile, sales costs were approximately RMB 12.121 billion, down 16.3% from the prior year. Gross profit decreased from RMB 796 million to RMB 201 million, and the gross profit margin fell from 5% to 2%.

In 2025, Greentown Hong Kong recorded a fair value loss on investment properties of approximately RMB 232 million, compared with a loss of approximately RMB 841 million in the same period last year; income tax expense increased from RMB 687 million to RMB 990 million, an increase of approximately 44.2%, mainly due to an increase in land appreciation tax. At the same time, financing costs increased from RMB 359 million to RMB 405 million.

As for its financial position, as of December 31, 2025, Greentown Hong Kong’s total assets were approximately RMB 108.417 billion, down from RMB 114.470 billion at the end of the prior year; total liabilities were approximately RMB 93.770 billion, compared with approximately RMB 97.318 billion at the end of the prior year; and total equity was approximately RMB 14.647 billion.

At the end of the period, the total amount of cash and cash equivalents (including restricted cash) was approximately RMB 940 million, total borrowings were RMB 13.657 billion, and the net gearing ratio was approximately 87%, further increasing from 75% at the end of 2024.

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