JOY CITY PPT released its interim results, with shareholders' attributable profit of HKD 105 million, a year-on-year decrease of 26.6%
JOY CITY PPT released its interim results for the period ending June 30, 2025, with revenue of 8.124 billion yuan, a year-on-year decrease of 5.78%; profit attributable to shareholders was 105 million yuan, a year-on-year decrease of 26.6%. Rental income and related services from investment properties amounted to approximately 2.038 billion yuan, a year-on-year decrease of 2.5%. Revenue from property development business was 5.481 billion yuan, a year-on-year decrease of 8.3%. The contract sales amount was approximately 2.749 billion yuan, a year-on-year decrease of 81.4%. The group maintained a low financing cost by optimizing its financing structure
According to the Zhitong Finance APP, JOY CITY PPT (00207) released its interim results for the six months ending June 30, 2025, with revenue of RMB 8.124 billion, a year-on-year decrease of 5.78%; profit attributable to shareholders of RMB 105 million, a year-on-year decrease of 26.6%; and basic earnings per share of 0.07 yuan.
The announcement stated that during the review period, the total rental income and related service income from investment properties was approximately RMB 2.038 billion, a year-on-year decrease of 2.5%, mainly due to the inclusion of Chengdu Joy City in the same period last year. The gross profit margin for the investment property business was 78%, remaining basically flat year-on-year. The revenue share from shopping malls and office buildings was approximately 88% and 9%, respectively.
During the review period, the group's property development business generated operating revenue of RMB 5.481 billion, a year-on-year decrease of 8.3%. The delivered property construction settlement area was approximately 175,101 square meters, a year-on-year decrease of 32%, with an average settlement price of approximately RMB 30,614 per square meter, a year-on-year increase of 33%. The gross profit margin for property development settlements was 18%, with a gross profit margin increase of 3 percentage points compared to the same period last year.
In response to the current adjustment and transformation of the real estate industry, to ensure stable performance, the group actively engaged in marketing collaboration, creating core node activities to enhance customer confidence and sales performance. During the review period, the group's contracted sales amounted to approximately RMB 2.749 billion, a year-on-year decrease of 81.4%. The contracted sales area was 164,178.1 square meters, a year-on-year decrease of 63.3%. The average sales price was approximately RMB 16,743.4 per square meter, a year-on-year decrease of 49.3%.
The group maintained good relationships with banks, actively expanded financing channels, and optimized financing structures, with an average financing cost of approximately 3.59% this period, maintaining a relatively low level in the industry
