Poly Developments and Holdings Group Co., Ltd. – Key Developments

1. Change in Securities Affairs Representative

On 19 January 2026, Poly Developments and Holdings Group Co., Ltd. (stock code 600048) announced that its Securities Affairs Representative, Ms. Huang Chengyan, had resigned due to a work transfer. Mr. Kuang Yu will assume the role, assisting the board secretary in ongoing duties. The announcement was issued by the board and included contact details for the new representative.

2. 2025 Earnings Preview and Performance Snapshot

Poly’s 2025 earnings preview, released the following day, showed the company as the sole profitable real‑estate developer among 27 A‑share listed firms.

  • Operating revenue: 308.261 billion CNY, a 1.09 % decline YoY.
  • Net profit attributable to shareholders: 1.026 billion CNY, down 79.49 % YoY.
  • Basic earnings per share: 0.09 CNY, a 79.47 % decline.

The sharp drop is attributed mainly to a decline in gross profit margin on real‑estate project turnovers and an estimated asset and credit impairment charge of roughly 6.9 billion CNY, expected to reduce the net profit for 2025 by about 4.2 billion CNY.

Analysts note that Poly remains the largest sales‑volume developer, with a streamlined land‑storage structure and low financing costs. They anticipate that profitability could recover once low‑price projects close out, potentially releasing profit elasticity.

3. Market‑Day Activity – Real‑Estate Sector

During the trading session of 20 January 2026, the real‑estate sector experienced a notable rally. Poly’s shares moved in line with a broader uptick that saw several peers, including China Evergrande, China Vanke, and China Merchants Group, rise over 5 %. The rally was supported by a policy announcement from the Ministry of Finance and other ministries, extending tax incentives for homeowners who sell their primary residence and repurchase a new home until 2027. The incentive, allowing a tax rebate based on the ratio of the old and new property values, is expected to stimulate demand for residential transactions.

4. Stock‑Level Movements

On 20 January 2026, Poly’s shares reached a trading range of 6.00 – 6.30 CNY, with the closing price on 18 January 2026 at 6.26 CNY. The 52‑week high and low are 9.32 CNY (16 April 2025) and 6.08 CNY (30 December 2025), respectively. The price‑earnings ratio is negative at –85.36, reflecting the sharp decline in earnings.

5. Company Profile

Poly Developments and Holdings Group Co., Ltd. is a Guangzhou‑based real‑estate conglomerate listed on the Shanghai Stock Exchange since its IPO on 31 July 2006. In addition to real‑estate investment, development, brokerage and finance, the company operates in cultural tourism, conventions, healthcare and education. Its market capitalization is approximately 74.6 billion CNY.