According to a corporate announcement, China Overseas Land & Investment Ltd (00688) has released its third quarter 2026 results.
During the third quarter of 2026, while global geopolitical conflicts showed some easing, uncertainty persisted. China's economy maintained overall stability, with macroeconomic policies continuing to take effect, demonstrating development resilience under pressure.
In the third quarter of 2026, the Chinese real estate market continued its adjustment trend, with localized stabilization coexisting alongside market divergence. Upgrade demand continued to be released, and core regional markets showed further signs of stabilization and improvement. The introduction of new real estate policies is conducive to improving market supply and demand in the long run and promoting market stability.
With a sound economic foundation and stable mortgage rates, Hong Kong's real estate market remained active in the third quarter of 2026, entering a period of steady development. The Group continues to focus on tier-one cities that offer greater safety and certainty, while seizing structural opportunities in other key cities. With a financially sound and resilient endogenous development model that balances both offense and defense, the Group is confident in achieving sustainable, steady, and high-quality growth.
From January to September 2026, the Group, together with its associates and joint ventures, achieved contracted property sales of RMB 181.04 billion, representing a year-on-year increase of 6.2%. The corresponding sales area was 6.12 million square meters, down 19.2% year-on-year.
In the third quarter of 2026, the Group acquired 14 new land parcels across 7 cities in mainland China and Hong Kong. The total new land reserve has a gross floor area of 2.16 million square meters, with an attributable gross floor area of 1.98 million square meters. The total land cost was RMB 49.22 billion, with an attributable land cost of RMB 48.49 billion.
In the third quarter of 2026, the Group's revenue was RMB 32.8 billion, and operating profit was RMB 1.95 billion. For the nine months ended September 30, 2026, the Group's revenue was RMB 130.4 billion, and operating profit was RMB 14.49 billion.
The Group continues to maintain a sound financial position and strong cost advantages, with its net gearing ratio and financing costs remaining within the lowest range in the industry.
Comments