Core Viewpoint - R&F Properties (02777) reported a significant decline in revenue and increased losses for the first half of 2025, leading to a nearly 4% drop in stock price [1] Financial Performance - The company achieved a revenue of 5.765 billion RMB, a year-on-year decrease of 59.43% [1] - The loss attributable to shareholders was 4.046 billion RMB, an increase of 73.6% compared to the previous year [1] - Basic loss per share was reported at 1.0783 RMB [1] Revenue Breakdown - Revenue from property development fell by 60% from 10.484 billion RMB in the same period last year to 4.165 billion RMB [1] - Rental income from investment properties decreased by 26% from 425 million RMB in the first half of 2024 to 313 million RMB [1] - Hotel operating revenue dropped by 70% from 2.762 billion RMB in the previous year to 827 million RMB [1]

Core Viewpoint - R&F Properties (02777) reported a significant decline in its mid-year performance for 2025, with a total revenue of RMB 5.765 billion, representing a year-on-year decrease of 59.43% [1] Revenue Breakdown - The company's revenue primarily comes from property development, rental income from investment properties, and hotel operations [1] - Revenue from property development fell by 60% year-on-year to RMB 4.165 billion, based on the delivery of 461,000 square meters of properties, a decrease of approximately 48% compared to 887,900 square meters delivered in the same period last year [1] - The average selling price during the period was approximately RMB 9,000 per square meter, down from RMB 11,800 per square meter in the first half of 2024 [1] Rental and Hotel Operations - Rental income from investment properties decreased by 26% to RMB 313 million, down from RMB 425 million in the first half of 2024 [1] - Hotel operating revenue plummeted by 70% to RMB 827 million, compared to RMB 2.762 billion in the same period last year, primarily due to the cancellation of confirmations related to a subsidiary in September 2024 [1]

Core Insights - The company reported a significant decline in revenue from property development, dropping 60% from RMB 104.84 billion to RMB 41.65 billion due to the ongoing downturn in the Chinese real estate market [1] - The gross profit margin for property development improved to 19.4% compared to 10.9% in the first half of 2024, excluding inventory impairment provisions [1] - The company recorded a net loss of RMB 40.82 billion, worsening from a net loss of RMB 23.31 billion in the same period last year, primarily due to decreased income from property development [1] Financial Performance - Revenue from property development decreased by 60% year-on-year, indicating a challenging market environment [1] - The gross profit margin for the period was 19.4%, showing improvement despite the revenue drop [1] - The net loss increased significantly, highlighting the financial strain on the company amid the industry's downturn [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲 明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 業務回顧 本人謹代表董事會，欣然提呈上半年度的中期報告。期內，經濟狀況仍然持續充滿挑戰。全球營商 環境受到廣泛實施的新貿易關稅政策嚴重影響，不僅增添了不確定性，亦使全球經濟前景面臨重重 困難。貿易戰終止無期、政治衝突僵持不下，以及多個地區的武裝衝突持續升級，令該等挑戰進一 步加劇。 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2777） 二零二五年中期業績公告 廣州富力地產股份有限公司（「本公司」）董事會（「董事會」）欣然宣佈本公司及其附屬公司（「本集團」）截 至二零二五年六月三十日止六個月之未經審核簡明綜合業績。附錄於本公告後面部份的簡明綜合中 期財務資料為本公告不可分割部份。中期業績已由本公司審核委員會審閱。 1 尤其是，美國推行全面關稅改革，對所有國家的進口貨物徵收巨額進出口關稅。此舉預計將影響全 球達美元1.2兆的貿易量，並導致國際貿易與製造業產出陷入停滯。根據世界貿易組織的資料，上 ...

Core Viewpoint - R&F Properties (02777) is experiencing significant stock price decline due to a profit warning announcement, indicating a worsening financial outlook for the company amid a struggling real estate market in China [1] Company Summary - R&F Properties' stock price fell nearly 5%, closing down 3.61% at HKD 0.8, with a trading volume of HKD 27.36 million [1] - The company issued a profit warning, projecting a net loss of approximately RMB 4.08 billion for the six months ending June 30, 2025, compared to a net loss of RMB 2.33 billion for the same period in 2024 [1] - The anticipated net loss is primarily attributed to the ongoing downturn in the Chinese real estate sector, which has led to decreased revenue and gross profit from property development [1] Industry Summary - The Chinese real estate industry continues to face challenges, contributing to declining revenues for companies like R&F Properties [1]

消息面上，富力地产今日将发2025年中期业绩。该公司午间发盈警公告，集团预计截至2025年6月30日 止六个月将录得约人民币40.8亿元的净亏损，而截至2024年6月30日止期间则录得净亏损人民币23.3亿 元。公告指出，期内的净亏损主要由于中国房地产行业持续低迷，导致来自物业开发的收入及毛利下 降。 富力地产(02777)一度跌近5%，截至发稿，跌3.61%，报0.8港元，成交额2736.38万港元。 ...

智通财经APP讯，富力地产(02777)发布公告，集团预计截至2025年6月30日止六个月将录得约人民币 40.8亿元的净亏损，而截至2024年6月30日止期间则录得净亏损人民币23.3亿元。期内的净亏损主要由于 中国房地产行业持续低迷，导致来自物业开发的收入及毛利下降。 （原标题：富力地产(02777)发盈警 预计中期净亏损约40.8亿元） ...

Core Viewpoint - R&F Properties (02777) expects to record a net loss of approximately RMB 4.08 billion for the six months ending June 30, 2025, compared to a net loss of RMB 2.33 billion for the period ending June 30, 2024, primarily due to the ongoing downturn in the Chinese real estate industry, which has led to a decline in revenue and gross profit from property development [1] Company Summary - R&F Properties anticipates a significant increase in net loss from RMB 2.33 billion to RMB 4.08 billion over the specified periods [1] - The expected losses are attributed to the persistent sluggishness in the Chinese real estate market [1] - The decline in revenue and gross profit is specifically linked to the company's property development segment [1]

Group 1 - The company, R&F Properties (02777.HK), expects to record a net loss of approximately RMB 4.08 billion for the six months ending June 30, 2025, compared to a net loss of RMB 2.33 billion for the same period ending June 30, 2024 [1] - The net loss during this period is primarily attributed to the ongoing downturn in the Chinese real estate industry, which has led to a decline in revenue and gross profit from property development [1]

盈利警告 廣州富力地產股份有限公司（「本公司」，連同其附屬公司為「本集團」）根據香港法例第 571章證券及期貨條例第XIVA部的內幕消息條文（定義見香港聯合交易所有限公司證券上市 規則（「上市規則」））及上市規則第13.09(2)(a)條刊發本公告。 本公司董事會（「董事會」）謹此知會本公司股東（「股東」）及潛在投資者，按照本集團 截至二零二五年六月三十日止六個月未經審核管理賬目之初步評估以及董事會現時可得的資 料，本集團預計截至二零二五年六月三十日止六個月將錄得約人民幣40.8億元的淨虧損，而 截至二零二四年六月三十日止期間則錄得淨虧損人民幣23.3億元。期內的淨虧損主要由於中 國房地產行業持續低迷，導致來自物業開發的收入及毛利下降。 由於本公司仍正落實本集團截至二零二五年六月三十日止六個月的中期業績，故本公告所載 資料僅由本公司管理層根據未經本公司核數師審閱或審核的本集團未經審核管理賬目初步評 估作出。股東及本公司潛在投資者應小心閱讀本集團截至二零二五年六月三十日止六個月的 業績公告，該公告預期於二零二五年八月二十七日刊發。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 ...