Xin Lang Cai Jing·2026-03-30 12:17Core Viewpoint - Country Garden reported a significant decrease in revenue for 2025, with a total revenue of approximately 154.9 billion yuan, representing a year-on-year decline of about 38.7%. However, the company achieved a net profit of 1.6 billion yuan, marking a return to profitability [1][3]. Financial Performance - In 2025, Country Garden's contract sales amounted to approximately 33.01 billion yuan, with a sales area of about 4.02 million square meters [1][3]. - The total number of homes delivered in 2025 was approximately 170,000, contributing to a cumulative delivery of nearly 1.15 million homes from 2023 to 2025 [1][3]. Debt Restructuring - The offshore restructuring of Country Garden became effective on December 30, 2025, with the issuance of new debt and equity instruments completed. The domestic restructuring plan has also been successfully approved, initiating a cash buyback program with a limit of 450 million yuan, expected to be completed in April [1][3]. Debt and Asset Status - As of the end of 2025, Country Garden's interest-bearing debt was 148 billion yuan, a reduction of 105.5 billion yuan from 253.5 billion yuan at the end of 2024, representing a decrease of 42% [1][3]. - The total assets of Country Garden were approximately 812.1 billion yuan, with net assets of about 44.3 billion yuan as of the end of 2025 [1][3]. Future Outlook - Country Garden indicated that 2026 marks the beginning of the "14th Five-Year Plan" and is a critical year for transitioning from "ensuring housing delivery" to normal operations. The company aims to focus on high-quality delivery, risk mitigation, debt and asset recovery, and sustainable operations [1][3].