MIDEA REAL EST (03990) has released its interim results for the six months ended June 30, 2026, reporting revenue of RMB 1.882 billion, a decrease of 5.72% year-on-year. Profit attributable to owners of the company stood at RMB 255 million, down 16.65% compared to the same period last year, with earnings per share of RMB 0.18.
Development services, a core business segment for the group, focus on full-cycle real estate development management, covering product design, planning and construction, sales, and phased development management. During the reporting period, revenue from development services reached RMB 329.6 million, down 34.7% from RMB 504.7 million in the same period last year.
In response to market changes and opportunities, the group is placing greater emphasis on development quality. The quality of externally sourced projects has improved significantly, with the group expanding into four third-party residential projects in key cities including Wuxi, Xuzhou, and Guiyang. Among these, the Xuzhou MIDEA REAL EST Junlan Yue project adopts an active spot-sale strategy, reshaping the credit system of the real estate industry with tangible, visible quality and redefining the home-buying experience with peace of mind.
During the reporting period, property management services revenue was approximately RMB 912.7 million, remaining largely flat compared to RMB 930 million in the same period last year. The group is building high-quality development capabilities through a "service+" model, empowering the urban space service ecosystem across residential, industrial parks, medical care, education, commercial office, and other sectors.
Residential property services, as the core business, maintained steady expansion, leveraging deep cultivation of existing projects and third-party market growth to generate stable cash flow. Industrial park services, supported by a full-chain industrial investment and corporate support system, have continuously improved park occupancy rates, becoming a key non-residential business segment.
The group's contracted area and managed area are 95.52 million square meters and 84.05 million square meters, respectively. In the non-residential segment, the group manages a total of 115 projects, including industrial parks, medical care facilities, schools, and public buildings. During the reporting period, seven new projects with contract values exceeding RMB 10 million each were signed.
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