Central China Management Company Limited (CCMGT) reported a 1H26 net loss of RMB25.99 million, reversing from a RMB37.03 million profit a year earlier, as revenue dropped 55.8% to RMB61.68 million amid China’s protracted property downturn.
Gross floor area under management shrank as contracted sales fell 32.8% year on year to RMB3.68 billion, with contracted sales volume down 23.7% to 0.68 million sq m and average selling price sliding 11.9% to RMB5,392 per sq m.
The operating slump was compounded by RMB45.34 million of impairment losses on receivables and contract assets, reflecting slower collections and heightened credit risk. Personnel costs were cut 26.2% to RMB25.28 million, helping to limit the operating loss to RMB27.03 million.
Despite the earnings reversal, CCMGT’s liquidity remained intact: cash and cash equivalents edged up 0.2% from end-2025 to RMB2.58 billion, while total assets dipped 2.1% to RMB3.09 billion. The balance sheet stayed debt-free, leaving the gearing ratio at zero.
No interim dividend was declared.
The board cited intense competition from state-owned peers, sluggish home-buyer confidence and slower project inflows as key headwinds, but reaffirmed its Greater Central China strategy. Management will prioritise cash collection, digital transformation, distressed-asset project management and cost control in 2H26, aiming to stabilise operations and expand into new growth areas.
Financing initiatives included an August 2026 share placement that issued 773 million new shares to two investors, raising gross proceeds of HK$69.60 million (net HK$69.20 million) to fund an offshore distressed-asset fund, technology upgrades and working capital. A May 2023 placement had earlier secured HK$274.10 million, of which HK$12.40 million has been applied as general working capital and HK$247.00 million remains earmarked for government and capital project management expansion.
After period-end, CCMGT founder Wu Po Sum resigned as chairman and non-executive director on 1 September 2026; executive director Wang Kai now chairs board meetings pending a permanent appointment.
No borrowings were outstanding during the period, and there were no acquisitions or disposals of subsidiaries, associates or joint ventures.