Sunac Services appoints new director, reports mixed interim results

Sunac Services Holdings Limited announced the appointment of Huang Xiaoou as an executive director, effective September 26, 2025. Huang, currently the group's vice president and general manager of the commercial company, joined Sunac China Holdings Limited in 2013 and previously worked at Vanke Group. Concurrently, Lu Peng resigned as a non-executive director to focus on other commitments within the Sunac Group.

The appointment coincides with the release of the company's interim results for the six months ended June 30, 2025. The group reported revenue of approximately RMB3,546.6 million, an increase of 1.8% year-on-year, and profit attributable to owners of the company of approximately RMB121.9 million, recovering from a loss in the previous year. However, net impairment losses on financial assets amounted to RMB346.0 million, and net finance income decreased to RMB11.3 million from RMB23.5 million due to lower cash balances and interest rates.

As of June 30, 2025, the group's gross floor area under management reached approximately 293 million square meters, with annual saturated revenue increasing to approximately RMB7.2 billion. The board does not recommend an interim dividend for the period. Additionally, the company is revising its use of unutilised net proceeds from its listing, reallocating funds to community living services, working capital, and general corporate purposes, reducing amounts earmarked for strategic investments and M&A.