R&F PROPERTIES (02777) announced its annual results for 2025. The group recorded revenue of 10.94 billion yuan, a decrease of 38.19% compared to the previous year. The loss attributable to company owners was 16.43 billion yuan, narrowing by 7.25% year-on-year. The basic loss per share was 4.3773 yuan. Rental income from investment properties fell 24% to 632 million yuan this year, down from 833 million yuan in 2024. Revenue from hotel operations declined 61% to 1.71 billion yuan from 4.37 billion yuan in the previous year. The significant decrease in hotel revenue was primarily due to the deconsolidation of a then-subsidiary in September 2024.
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