China SCE Group Holdings released unaudited results for the six months ended 30 June 2026, posting a steep contraction across key metrics amid a challenging mainland property market.

Revenue fell 58.5 % year-on-year to RMB7.68 billion, driven mainly by a 61.5 % drop in property sales to RMB6.73 billion. Delivered floor area shrank 53.5 % to 679,323 sq.m., while the average selling price slipped 17.1 % to RMB9,910 per sq.m.

Gross profit collapsed to RMB0.47 billion, pushing the gross margin down to 6.1 % from 20.8 % a year earlier. Together with a RMB1.75 billion fair-value loss on investment properties and a RMB0.78 billion inventory write-down, this resulted in a loss attributable to shareholders of RMB3.39 billion, a marginal improvement from the RMB3.48 billion loss recorded in the prior-year period. Basic loss per share was RMB0.804.

Contracted sales (including joint ventures and associates) declined 41.8 % to RMB2.18 billion on a 39.1 % reduction in contracted area to 0.28 million sq.m., reflecting muted market demand and the Group’s focus on delivery over new launches.

Liquidity remains strained. Cash and bank balances stood at RMB2.73 billion, versus total borrowings of RMB31.91 billion, of which RMB26.42 billion mature within one year. Net current liabilities widened to RMB20.75 billion and the Group moved into a net liabilities position of RMB0.78 billion. As at 30 June 2026, RMB16.61 billion of offshore notes and bank loans were in default or cross-default.

The High Court of Hong Kong sanctioned the Group’s offshore debt restructuring scheme in June 2026. Management is also negotiating onshore loan extensions, accelerating property sales, and exploring asset disposals to ease liquidity pressure. The auditors highlight material uncertainties related to going concern, with continued viability hinging on the successful execution of these measures.

No interim dividend was declared.