Greentown China stock reports a 26 percent revenue decline
Published on 10/01/2026 at 02:44 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Greentown China stock reported revenue of RMB 39.481 billion for the six months ended June 30, 2026, down 26.0 percent from the same period a year earlier. Profit attributable to owners fell 61.0 percent to RMB 82 million, putting revenue conversion and margin protection at the center of the investment debate.
Revenue falls as margins tighten
According to Moomoo on September 24, 2026, gross profit reached RMB 4.388 billion in the first half, a 38.7 percent year-over-year decline, while the consolidated gross margin was 11.1 percent, down 2.3 percentage points. The figures show that the profit decline was sharper than the revenue contraction.
The same interim report put net gearing at 63.9 percent as of June 30, 2026, down 2.5 percentage points from the end of 2025. Weighted average borrowing costs fell to 3.2 percent, a 20-basis-point year-over-year reduction, offering a measurable counterweight to weaker earnings.
Sales remain the operating test
According to MarketScreener on September 4, 2026, Greentown recorded RMB 7.5 billion of self-investment sales in August. Total contracted sales reached RMB 122.8 billion in the eight months through August 31, including RMB 72.6 billion from self-investment projects and RMB 50.2 billion from project management.
Greentown's first-half contracted sales totaled RMB 94.7 billion, ranking fourth in the industry, while self-investment sales reached RMB 60.2 billion, according to The Globe and Mail on September 25, 2026. The sales mix gives investors a second yardstick beyond reported revenue, but it also highlights the gap between operating scale and attributable profit.
Analyst target stays above market value
The Globe and Mail reported on September 28, 2026, that Huatai Securities maintained a Buy rating and set a HKD 9.75 price target. The target keeps attention on land quality, inventory clearance and the company's ability to translate contracted sales into higher-margin recognized revenue.
Greentown China had a market capitalization of USD 3.7 billion as of September 29, 2026. The company is listed on the Hong Kong Stock Exchange under ticker 03900.HK and operates residential development, project management, hotel operations and property investment businesses.
Greentown China stock at a glance
- Company: Greentown China Holdings Limited
- Ticker: 03900.HK
- Primary exchange: Hong Kong Stock Exchange
- Market capitalization: USD 3.7 billion (as of September 29, 2026)
- Sector / Industry: Real Estate / Real Estate Development and Operations
