Yida China reported a RMB754.54 million loss attributable to shareholders for the six months ended 30 June 2026, marginally narrower than the RMB775.54 million loss a year earlier. Group revenue declined 19.5% year on year to RMB564.16 million, weighed down by a 14.4% drop in rental income to RMB185.25 million and a 38.0% contraction in business-park management fees to RMB53.83 million. Property sales revenue rose 21.0% to RMB256.85 million, but could not offset overall weakness.
Gross profit slumped 70.9% to RMB28.98 million, pushing the gross margin down to 5.1% from 14.2%. Fair-value losses on investment properties totalled RMB108.19 million, and finance costs increased 9.3% to RMB552.31 million as capitalised interest declined.
Liquidity remains strained. Cash and cash equivalents stood at RMB152.96 million, with an additional RMB95.45 million of restricted cash, against interest-bearing bank and other borrowings of RMB11.48 billion, all classified as current. Borrowings overdue reached RMB7.22 billion, while a further RMB4.21 billion could become immediately repayable under cross-default provisions. The net debt ratio rose to 314.9% from 261.4% at end-2025.
Segmentally, property development contributed 45.5% of revenue, property investment 32.8%, business-park services 9.5% and construction, decoration and landscaping 12.2%. Contracted sales were RMB244 million on 19,300 sq.m. of space, averaging RMB12,640 per sq.m., with Dalian projects accounting for 92.3% of value. Portfolio occupancy declined; rental exit of 54,000 sq.m. outweighed 13,000 sq.m. of new leases.
Total assets were RMB29.77 billion versus total liabilities of RMB26.21 billion, leaving equity at RMB3.57 billion. No interim dividend was declared.
Management said priorities for the second half include debt stabilisation, asset revitalisation and project delivery, alongside intensified tenant acquisition and cost control. The company continues negotiations with creditors, including restructuring talks on offshore debt and settlement discussions with Aetos Parties, while warning that industry conditions remain challenging and liquidity pressures are unlikely to ease rapidly.
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