China Resources Land (01109) has released its interim results for the six months ended June 30, 2026, reporting a consolidated turnover of RMB 67.87 billion for the period.

Delving into the breakdown, turnover from the development and sales segment reached RMB 45.26 billion. In parallel, revenue from the investment property rental business stood at RMB 14.16 billion, while the light-asset management fee income contributed RMB 8.45 billion. The combined recurring business income totaled RMB 22.61 billion, marking a year-on-year increase of 9.9% and representing 33.3% of the total turnover.

The consolidated gross profit margin for the first half of 2026 was 25.4%. This figure comprised a gross margin of 10.0% for the development and sales business, a robust 73.3% for the investment property rental segment, and 38.0% for China Resources Mixc Lifestyle.

For the period under review, the company's profit attributable to shareholders reached RMB 9.84 billion. After adjusting for the net effect of investment property revaluation gains of RMB 3.41 billion and the realized cumulative revaluation gains of RMB 3.73 billion from disposed investment properties, the core profit attributable to shareholders stood at RMB 10.16 billion. This core figure includes recurring business core net profit of RMB 6.65 billion, with its share of total core net profit expanding by 5.3 percentage points year-on-year to reach 65.5%.

Earnings per share attributable to shareholders were RMB 1.38, while core earnings per share were RMB 1.42. The board has resolved to declare an interim dividend of RMB 0.20 per share (equivalent to HK$0.231 per share), remaining flat compared to the 2025 interim dividend.

During the first six months of 2026, the group achieved contracted property sales of RMB 116.5 billion, securing the third position in the industry, with contracted area reaching 3.16 million square meters. As of June 30, 2026, locked-in but unsettled development turnover stood at RMB 188.19 billion, of which an estimated RMB 97.28 billion is expected to be settled within 2026.

In terms of land acquisition, the group added new land reserves with a gross floor area of 2.84 million square meters in the first half. The total land bank amounted to approximately 47.12 million square meters by the end of the reporting period.

Financially, the group's total borrowings were RMB 271.18 billion as of June 30, 2026, with cash and bank balances of RMB 98.91 billion. The net interest-bearing debt ratio was 41.0%, while the weighted average cost of debt decreased by 9 basis points from the end of 2025 to 2.63%, maintaining the lowest level in the industry.