Poly Developments revenue down, prioritizes sound financial standing

In 2024, Poly Developments And Holdings Group (SSE:600048) experienced a dip in revenue, reporting CNY 311.67 billion, a 10.14% decrease year-over-year; net profits declined to CNY 9.74 billion. Amidst these challenges, the company emphasizes a strategic shift, prioritizing sound financial standing and asset quality. This included aggressive debt reduction tactics, leading to CNY 18.99 billion lower total financing costs, greater reliance on long term debts at 39.6% of the debt portfolio, and a significant share repurchase program with over CNY 1 billion worth of treasury shares.