Guangdong Land Holdings Limited (GD LAND) reported unaudited first-quarter revenue of HK$1.58 billion, up 107.5% year on year, driven by stronger handover volumes at projects such as Foshan One Mansion, Guangzhou GDH Future City and Zhongshan GDH City. Gross profit expanded 4.23 times to HK$265.36 million, lifting the gross margin to 16.86% from 6.69% a year earlier. Loss attributable to shareholders narrowed sharply to HK$2.90 million from HK$153.98 million in the prior-year period.
Total assets slipped 1.2% versus end-2025 to HK$33.15 billion, while equity attributable to owners rose 2.4% to HK$3.12 billion, aided by the appreciation of the renminbi. Net asset value per share edged up to HK$1.82 from HK$1.78.
Operationally, the Group contracted approximately 38,000 sq m of gross floor area (GFA) during the quarter, down from 49,000 sq m a year ago, yet delivered 73,000 sq m, up from 47,000 sq m. Higher-margin units from Guangzhou GDH Future City underpinned the earnings improvement.
Inventory of completed properties for sale decreased to HK$10.57 billion, while properties under development stood at HK$8.88 billion, bringing total property inventory to HK$19.45 billion, 4.0% lower than at end-2025. Contract liabilities—representing cash received for presold units awaiting delivery—were HK$5.31 billion, versus HK$5.97 billion three months earlier.
The financial information is based on internal records and has not been audited or reviewed by the external auditor. Shareholders and potential investors are advised to exercise caution when dealing in the Company’s securities.
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