---
title: "\"Performance\" SHIMAO turned a full-year loss into a profit of 14.473 billion RMB, auditor unable to express an opinion"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/280767043.md"
description: "SHIMAO GROUP announced its full-year results for the year ending last December, with a revenue of RMB 28.418 billion, a year-on-year decrease of 52.6%. The company achieved a profit of RMB 14.473 billion, compared to a loss of RMB 35.905 billion in the same period last year, with earnings per share of RMB 2.61, but no dividend was declared. The contracted sales amounted to RMB 23.953 billion, with land reserves of approximately 34.16 million square meters. The independent auditor stated that they were unable to express an opinion, pointing out significant uncertainties that may affect the company's ability to continue as a going concern"
datetime: "2026-03-27T09:51:49.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/280767043.md)
  - [en](https://longbridge.com/en/news/280767043.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/280767043.md)
---

# "Performance" SHIMAO turned a full-year loss into a profit of 14.473 billion RMB, auditor unable to express an opinion

SHIMAO GROUP (00813.HK) announced its full-year results for the year ended last December, with revenue of RMB 28.418 billion, a year-on-year decrease of 52.6%. It turned a loss into a profit of RMB 14.473 billion, compared to a loss of RMB 35.905 billion in the same period last year; earnings per share were RMB 2.61. No dividend was declared.

The group's contract sales last year amounted to RMB 23.953 billion. The contracted sales area was 1.965 million square meters. At the end of last year, the group's land reserves were approximately 34.16 million square meters. The company explained that the increase in profit was mainly due to the following reasons: a gross loss increase of approximately RMB 22.908 billion; and an increase in other income and gains of approximately RMB 76.958 billion, mainly due to the gains from the overseas debt restructuring in 2025.

The independent auditor stated that they could not express an opinion. As of December 31, 2025, Shimao's total borrowings amounted to approximately RMB 182.3 billion, of which approximately RMB 118.6 billion is due for repayment within the next 12 months, while its total cash is approximately RMB 12.1 billion. At the end of last year, Shimao had a total of RMB 92.5 billion in borrowings that were not repaid on the scheduled repayment dates. In addition, Shimao is involved in various lawsuits and arbitration cases for various reasons. The above events or circumstances indicate significant uncertainty, which may raise substantial doubts about Shimao's ability to continue as a going concern, and Shimao may not be able to liquidate assets and repay liabilities in the normal course of business

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