Xin Hua Cai Jing·2026-03-31 01:48Core Insights - China Resources Land achieved operating revenue of RMB 281.44 billion and net profit attributable to shareholders of RMB 25.42 billion for the reporting period, with core net profit reaching RMB 22.48 billion, marking a strategic transition towards a diversified business model focused on "development, operation, and services" [1] Group 1: Financial Performance - The core net profit from recurring business grew by 13.1% year-on-year to RMB 11.65 billion, accounting for 51.8% of total core net profit [1] - The development and sales business generated a contracted sales amount of RMB 233.6 billion, maintaining a top-three position in the industry, with a gross margin of 15.5% [1] - The rental income from operational real estate contributed significantly, with revenue of RMB 25.44 billion, up 9.2% year-on-year, and net profit of RMB 9.87 billion, up 15.2% [2] Group 2: Business Segments - The self-owned shopping centers achieved retail sales of RMB 239.2 billion, a 22.4% increase, with 98 centers in operation, 82 of which ranked in the top three in their local markets [2] - The office leasing business saw an average occupancy rate rise to 77.7%, with new leasing area reaching a record high [2] - The asset management business accelerated, with a total asset management scale of RMB 502.2 billion, an increase of RMB 40.1 billion from the end of 2024 [2][3] Group 3: Strategic Developments - The company signed 87 new projects in urban construction management and consulting, leading the industry in government construction contracts [3] - The company maintained a cash reserve of RMB 116.99 billion, providing financial flexibility and strategic options for development [3] - The weighted average financing cost reached a historical low of approximately 2.72%, down 39 basis points from the end of 2024, with both total and net interest-bearing debt ratios remaining among the industry's best [3]