China Resources Land sees sales dip but recurring revenue grows in November

China Resources Land Limited announced that for November 2025, the Group achieved gross contracted sales of approximately RMB23.00 bn, representing a 10.8% year-on-year decrease. Contracted gross floor area (GFA) also fell by 5.6% year-on-year to approximately 1.135 million square meters. For the first eleven months of 2025, gross contracted sales amounted to approximately RMB192.60 bn, down 15.9% year-on-year, with contracted GFA decreasing by 24.8% year-on-year to approximately 7.545 million square meters.

In contrast to sales performance, the Group's recurring revenue showed positive growth. For November 2025, recurring revenue was approximately RMB4.38 bn, an increase of 7.1% year-on-year. Rental income from investment property business specifically rose by 15.0% year-on-year to RMB2.84 bn. The cumulative recurring revenue for the first eleven months of the year reached approximately RMB45.86 bn, up 7.2% year-on-year, with cumulative rental income from investment property business totaling RMB29.93 bn, a 13.2% year-on-year increase.

These preliminary figures are derived from internal management records and are subject to change. Investors are advised to exercise caution and not place undue reliance on this information.