Longguang Group (03380) Announces Interim Results: Significant progress has been made by continuing to complete the restructuring of debt deliveries

The Zhitong Finance App learned that on August 26, Longguang Group (03380) announced the results for the half year ended June 30, 2026. In the first half of 2026, the real estate policy environment continued to pick up, but the industry is still in a cycle of deep adjustment. According to data from the National Bureau of Statistics, the country's real estate development investment and commercial housing sales scale continued to decline year-on-year from January to June. According to Wind data, the overall profits of housing enterprises are under pressure. As of August 20, more than 70% of housing enterprises have disclosed their 2026 interim results and forecasts.

Facing industry challenges, Longguang continues to optimize business strategies, strengthen project sales and capital return measures, and ensure stable production and operation and smooth project delivery. In the first half of 2026, the company completed project delivery tasks according to the plan, carried out corporate responsibilities through practical actions, and fulfilled its promises to owners and society.

During the reporting period, Longguang achieved operating income of RMB 1.5 billion, with a net loss of RMB 770 million during the period due to factors such as low gross profit due to the downturn in the real estate industry and provision for depreciation of inventory accounts.

Long Guang has made every effort to promote the resolution of domestic and foreign debt risks in an integrated manner, and significant progress has been made in debt restructuring work.

In terms of overseas debt restructuring, Longguang's overall overseas debt restructuring plan was approved by the Cayman Islands Court and the Hong Kong High Court in August 2026, respectively, and registered with the Companies Registry in Cayman and Hong Kong. The company's overall overseas debt restructuring plan officially came into effect on August 21, 2026. Meanwhile, the company's domestic bond restructuring plan was approved by creditors in July last year, and work related to the plan is gradually being implemented.

While making significant progress in domestic and foreign debt restructuring, Long Guang continues to do a good job of “stabilizing operation and securing housing delivery”, gradually returning to a healthy business path.