Seazen Holdings reports sales decline in Q1 2025

** Seazen Holdings (SSE:601155) reported a significant drop in contract sales for the first quarter of 2025. The company's Q1 contract sales totaled CNY5.102 billion, marking a 57.29% decrease compared to the same period last year. Contracted sales area also decreased significantly to 657,700 square meters, down 60.18% year-over-year. In March, the company's commercial operations revenue was CNY3.448 billion, comprising rentals, management fees, parking, and other miscellaneous charges. In Q1, investment properties generated revenue of CNY3.216 billion. At the end of March, the company's joint venture debt balance amounted to CNY2.754 billion. A total of 593,000 square meters were delivered in Q1.