China Fortune Land Development reports Q3 loss, continues debt restructuring

China Fortune Land Development reported a net loss attributable to shareholders of RMB -9.83 bn for the first nine months of 2025, a decrease of 215.69% year-on-year. Total operating revenue for the same period was RMB 3.88 bn, down 72.09% from the previous year, primarily due to reduced real estate income. Operating activities resulted in a net cash outflow of RMB -3.72 bn. The supervisory board and board of directors both approved the Q3 report, though one director opposed the asset impairment provision.

The company approved an asset impairment provision totaling RMB 613.44m for accounts receivable and RMB 581,670.71 for contract assets in Q3 2025. This will impact the total profit and net profit attributable to shareholders. One director opposed the proposal, citing concerns about the prudence of asset disposal.

Debt restructuring continues, with RMB 192.67 bn of financial debt restructured through agreements. The company has utilized "Happiness Select Platform" and "Happiness Optimal Platform" for equity-for-debt swaps, settling RMB 17.45 bn in financial debt and RMB 6.18 bn in operating debt. Additionally, the asset sale and associated trust plan for RMB 24.01 bn in financial debt are still in progress, with RMB 22.35 bn already implemented.