Agile Group released its unaudited results for the six months ended 30 June 2026, posting a RMB6.15 billion loss, narrower than the RMB7.39 billion deficit in the prior-year period but still reflecting severe pressure in China’s property market.
Financial performance • Revenue fell 20.00% year on year to RMB10.86 billion, split across property management (RMB6.04 billion, 55.6%), property development (RMB3.81 billion, 35.0%) and other businesses (RMB1.01 billion, 9.4%). • Gross loss expanded to RMB2.05 billion, delivering a negative gross margin of 18.9%. • Loss attributable to shareholders widened 10.00% to RMB8.83 billion; basic loss per share was RMB1.75 versus RMB1.59 a year earlier. • Net finance swung to an income of RMB45.46 million, supported by exchange gains on foreign-currency borrowings.
Operational metrics • Contracted (pre-sold) sales contracted 26.5% year on year to RMB3.80 billion on 0.41 million sq m of GFA, with an average selling price of RMB9,323 per sq m (–0.4% y-o-y). • The group delivered ~1,600 residential units during the period, representing 0.15 million sq m across 12 cities. • Total land bank stood at 25.03 million sq m across 68 cities; average land cost was RMB2,445 per sq m.
Balance‐sheet highlights • Total debt fell by RMB1.82 billion from end-2025 to RMB44.98 billion, while cash and bank balances ended the period at RMB4.51 billion. • Net gearing climbed to 364.9% from 229.6% at end-2025. • The group faces “defaulted” and “cross-defaulted” borrowings after missing offshore debt payments in 2024; principal and interest on several bank, other and senior note facilities remain unpaid. • A winding-up petition filed in Hong Kong has been adjourned to 12 October 2026. Management continues to negotiate an offshore debt restructuring plan with major creditors.
Liquidity measures Key initiatives include seeking refinancing and maturity extensions, accelerating project pre-sales and cash collection, cutting administrative costs, and disposing of non-core assets. Directors prepare accounts on a going-concern basis, citing these measures, but acknowledge “material uncertainties”.
Segment outlook Management expects ongoing policy support to aid a gradual sector recovery in China’s “15th Five-Year Plan” period. Efforts will focus on boosting sales in core Pearl and Yangtze River Delta regions and finalising an offshore debt workout in 2H 2026.
Dividend No interim dividend was declared.
Board and governance Chairman and President Mr. Chen Zhuo Lin continues to hold both roles; the board considers the arrangement appropriate under current circumstances. The interim results were reviewed by the audit committee but not externally audited.
Shares of Agile Group trade on the Hong Kong Stock Exchange under code 03383.