CHINA RES LAND (01109) announced its financial results for the fiscal year ended December 31, 2024. The company recorded revenue of 281.438 billion yuan, marking a slight increase of 0.91% year-on-year. Profit attributable to shareholders was 25.418 billion yuan, a marginal decrease of 0.45% compared to the previous year. Basic earnings per share stood at 3.56 yuan, and the board proposed a final dividend of 0.966 yuan per share.

The group's recurring business revenue and profit grew by 3.7% and 13.1% year-on-year, respectively. The proportion of profit contributed by recurring business increased by 11.2 percentage points to 51.8%.

In 2025, the group achieved contracted sales of 233.6 billion yuan, representing a decrease of 10.5% year-on-year. The contracted sales area was 9.22 million square meters, down by 18.6% compared to the prior year.

During 2025, China's economy maintained overall stability with progressive improvements, demonstrating strong resilience and vitality as it advanced towards new and superior development phases. The property market showed signs of "stabilizing after a decline" amid deep adjustments, yet it continued to face multiple challenges, including insufficient demand momentum and difficulties in reducing inventory.

In response to these market conditions, the group maintained strategic focus, accelerated transformation and innovation, and actively seized policy opportunities. It coordinated the synergistic development of its "three growth curves," leading to stable overall performance.

In 2025, the group's shopping centers generated revenue of 21.92 billion yuan, up 13.3% year-on-year, with an occupancy rate of 97.4%, an increase of 0.3 percentage points. Driven by strong performance in leading shopping centers, the overall portfolio valuation increased by 9.45 billion yuan. The total post-assessment book value of these assets reached 240.35 billion yuan, accounting for 22.3% of the group's total assets.

As of December 31, 2025, the total gross floor area of the group's shopping centers was 12.42 million square meters, an increase of 8.4% year-on-year, with the equity floor area amounting to 9.32 million square meters. During the period, six new shopping centers commenced operations, bringing the total number of operational shopping centers to 98. No new office buildings were added, keeping the number of operational office buildings at 23.