GD LAND (00124) reported attributable profit of HK$258 million for the first three quarters, turning from a loss to a profit year-on-year.

GD LAND (00124) announced that for the nine months ended September 30, 2026, the Group's consolidated revenue was approximately HK$5.367 billion (nine months ended September 30, 2025: HK$6.728 billion), a decrease of approximately 20.2% compared with the same period last year. The decrease in revenue was mainly due to a reduction in the total gross floor area (GFA) sold of properties held for sale. During the review period, the Group recorded profit attributable to owners of the Company of approximately HK$258 million (nine months ended September 30, 2025: loss of HK$16 million). The main factors affecting the Group's results for the nine months ended September 30, 2026 included: (a) affected by the latest real estate market environment, and based on indications of impairment in certain of the Group's property projects, the Group made an inventory impairment provision of approximately HK$127 million during the review period (nine months ended September 30, 2025: HK$1.097 billion); (b) the Group recorded a fair value loss on investment properties (net of relevant deferred tax expenses) of approximately HK$13.34 million during the review period (nine months ended September 30, 2025: HK$99.12 million); and (c) the properties delivered by the Group during the review period were mainly the Foshan Yuehai Yiguifu and Guangzhou Yuehai Yungangcheng projects; among them, the Guangzhou Yuehai Yungangcheng project had a relatively high gross profit margin, and the decrease in total GFA delivered during the review period led to a decrease in property sales profit compared with the same period in 2025.