Sunac sees reduced losses despite revenue decline in H1 2025

For the six months ended 30 June 2025, Sunac China Holdings Limited reported a total revenue of approximately RMB19.99 billion, a decrease of 41.7% from RMB34.28 billion in the same period last year. This decline was primarily attributed to reduced property sales. Despite this, gross loss increased slightly to RMB2.08 billion, up from RMB1.81 billion. Loss attributable to owners of the company, however, decreased by 14.4% to RMB12.81 billion, down from RMB14.96 billion in the prior year.

The group's financial position saw total borrowings at approximately RMB254.82 billion, a reduction of RMB4.85 billion from RMB259.67 billion at the end of 2024. Cash balances, including restricted cash, also decreased to approximately RMB18.63 billion from RMB19.75 billion. The gearing ratio increased to 84.1% from 81.3% as of 31 December 2024. Notably, the group recognized approximately RMB4.02 billion in gains from onshore debt restructuring, contributing to a significant increase in other income and gains.

Sunac's land bank, including joint ventures and associates, totaled approximately 124 million sq.m. as of 30 June 2025, with an attributable land bank of 86.24 million sq.m. The company continued to focus on guaranteed home delivery, completing approximately 14,900 houses in 23 cities during the first half of 2025, and aims to deliver an additional 39,100 houses in the latter half of the year.