Shenzhen Zhenye A Semi-Annual Report Template

Shenzhen Zhenye (Group) Co., Ltd. (000006.SZ) is a state-controlled real estate developer headquartered in Shenzhen, Guangdong province. Founded in 1989 and listed on the Shenzhen Stock Exchange in 1992, the company holds the top-grade national real estate development qualification and is under the direct supervision of the Shenzhen Municipal State-owned Assets Supervision and Administration Commission, which holds 21.93% of its shares. Over more than three decades the company has completed over forty projects with a cumulative floor area of nearly ten million square meters, and it now operates five business lines: property development, urban village redevelopment, commercial operations, construction agency services, and city services, with a presence in Shenzhen, Guangzhou, Changsha, Nanjing, Tianjin, Xi’an and other cities.

For the six months ended June 30, 2026, Shenzhen Zhenye recorded operating revenue of RMB 796.4 million, down 57.7% from RMB 1,882.7 million a year earlier, as fewer projects reached delivery compared with a delivery-heavy first half of 2025. Property sales contributed RMB 725 million, or 91.0% of total revenue, while leasing, agency and management services made up the remainder; Guangdong province accounted for 83.9% of revenue. Net profit attributable to shareholders was a loss of RMB 95.7 million, widening 34.9% from a loss of RMB 71.0 million in the same period of 2025, and basic loss per share stood at RMB 0.0709. Selling and administrative expenses were trimmed about 16% year on year, partially cushioning the impact of lower revenue.

The balance sheet continued to improve. Total assets stood at RMB 15.99 billion as of June 30, 2026, roughly flat year on year, while total liabilities declined 5.2% to RMB 9.94 billion, bringing the gearing ratio down 2.9 percentage points to 62.2%. Total equity rose 7.7% to RMB 6.05 billion. Cash and cash equivalents decreased 22.6% to RMB 2.54 billion. Operating activities generated a net cash inflow of RMB 444 million, the fifth consecutive positive half-year, though 38.9% below the prior-year period; investing activities used RMB 50 million and financing activities used RMB 311 million as the company continued to pay down debt. Overall, cash and equivalents increased RMB 83 million during the half.