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2026-03-27 17:51:49 SHIMAO GROUP (00813.HK) announced its full-year results for the year ended last December, with revenue of RMB28.418 billion, a year-on-year decrease of 52.6%. The company turned a profit with RMB14.473 billion, compared to a loss of RMB35.905 billion in the previous year; earnings per share were RMB2.61. No dividend was declared. The group's contract sales amounted to RMB23.953 billion last year, with a contract sales area of 1.965 million square meters. As of the end of last year, the group's land reserve was approximately 34.16 million square meters. The company explained that the profit increase was mainly due to the following reasons: an increase in gross loss of approximately RMB22.908 billion; and an increase in other income and gains of approximately RMB76.958 billion, primarily due to gains from the restructuring of offshore debts in 2025. The independent auditor stated they were unable to express an opinion. As of December 31, 2025, SHIMAO's total borrowings amounted to approximately RMB182.3 billion, of which approximately RMB118.6 billion is due for repayment within the next 12 months, while its total cash amounted to approximately RMB12.1 billion. As of the end of last year, SHIMAO had borrowings totaling RMB92.5 billion that were not repaid according to the scheduled repayment dates. Additionally, SHIMAO is involved in various lawsuits and arbitration cases for different reasons. These events or conditions indicate significant uncertainty, which may cast substantial doubt on SHIMAO's ability to continue as a going concern, and SHIMAO may be unable to realize its assets and discharge its liabilities in the normal course of business. (hc/da)~ AASTOCKS Financial News Website: www.aastocks.com | |