Performance | China Resources Land earned 25.4 billion RMB last year, with a score of 96.6 points

China Resources Land (01109) announced its full-year results for the year ending December 2025, with attributable profit to shareholders of 25.418 billion yuan (RMB, same below), a year-on-year decrease of 0.45%; earnings per share of 3.56 yuan, final dividend of 0.966 yuan per share, along with an interim dividend of 0.2 yuan, totaling annual dividends of 1.166 yuan, a year-on-year drop of 11.6%.

During the period, revenue was 281.438 billion yuan, a year-on-year increase of 0.91%. The signed contract value was 233.6 billion yuan, a year-on-year decrease of 10.5%. Core net profit was 22.48 billion yuan, a year-on-year decrease of 11.4%.

Last year, new land reserves increased by an area of 3.39 million square meters. As of the end of 2025, total land reserves were approximately 46.73 million square meters; the net interest-bearing debt ratio increased by 7.3 percentage points year-on-year to 39.2%, and the weighted average cost of debt financing decreased by 39 basis points from the end of 2024 to 2.72%, maintaining the lowest level in the industry.

The group stated that the current development logic of the real estate industry has undergone fundamental changes. The industry positioning has gradually shifted from traditional development and sales to a dual focus on livelihood protection and urban operation, along with coordinated development; the intrinsic demand for urban renewal and the renovation of old communities is accelerating, becoming a new driving force for high-quality industry development. At the same time, the “single project era” has arrived, with improvement demand becoming the mainstream of the market, and “product strength,” “delivery capability,” and “service capability” becoming the core keys for enterprises to navigate through cycles and achieve steady long-term development. For China Resources Land, the “14th Five-Year Plan” is not only a critical window for model transformation and energy conversion but also a strategic opportunity period for achieving qualitative changes and moving towards becoming a world-class enterprise.

To promote the implementation of the new development pattern and achieve the strategic elevation goals, the group will focus on forging two major support systems: “strategic-led precise investment” and “lean operational management,” while fully activating three major development engines: at the asset and capital circulation level, accelerating the substantive operation of asset management, leveraging REITs for expansion and multi-strategy funds to close the value loop of “investment, financing, management, and exit”; at the technology and innovation level, deeply advancing the “AI+” special action, empowering the entire industry chain through digitalization, and driving iterations of intelligent construction and operation models; at the organization and incentive level, further advancing a new round of organizational reform, continuously stimulating internal vitality, and ensuring efficient implementation of strategies.