Core Insights - Poly Real Estate Group's Shanghai subsidiary reported significant growth in revenue and net profit for the first nine months of 2025, with revenue reaching approximately 22.76 billion yuan, a year-on-year increase of 82.13%, and net profit of about 334 million yuan, recovering from a loss of 150 million yuan in the same period last year [1] Financial Performance - For the first nine months of 2025, Poly Real Estate Shanghai achieved a total revenue of approximately 22.76 billion yuan, marking an 82.13% increase year-on-year [1] - The net profit for the same period was approximately 334 million yuan, a significant recovery from a net loss of 150 million yuan in the previous year [1] - The net profit attributable to the parent company was approximately 63.31 million yuan, reflecting a year-on-year growth of 208.8% [1] - As of September 30, total assets amounted to 170.51 billion yuan, with total liabilities at 140.87 billion yuan, resulting in equity of 29.64 billion yuan [1] Sales Performance - Cumulative contract sales for Poly Real Estate Group reached approximately 39.5 billion yuan, with a total sales area of about 1.295 million square meters and an average contract sales price of approximately 30,504 yuan per square meter [1] - The Shanghai region remained a key performance area, contributing 6.08 billion yuan in sales, primarily driven by the success of the Hai Shang Yin project [1][2] Project Development - The Hai Shang Yin project, launched in April 2025, sold out within an hour during its first opening and became the first "daylight disk" in Minhang for the year [2] - In September, the project released 52 units of four-bedroom apartments, achieving an average price of 84,143 yuan per square meter, with all units sold out [2] - Poly Real Estate accelerated land acquisition, adding approximately 1.183 million square meters of land reserves, with nearly 90% located in Shanghai, Hangzhou, and Guangzhou [3] Land Acquisition Strategy - Poly Real Estate has increased its focus on Shanghai, acquiring key land parcels in core areas, including the Yangpu Binjiang land for 4.241 billion yuan, setting a new record for floor prices in the area [5] - The company also entered the Jing'an District through equity transactions, acquiring a 51% stake in a real estate development company for 850 million yuan [5] - In addition to conventional land auctions, Poly Real Estate successfully bid for multiple parcels in competitive bidding processes, demonstrating its aggressive expansion strategy [5]
保利置业上海公司前三季净利同比增长