Greenland Holdings' first-quarter real estate sales amount and area both show "double growth" year-over-year, driving transformation and development, and achieving stabilization and recovery.

（Source: 财闻）

          In 2026, Greenland will focus on the main line of “stabilizing operations, promoting transformation, and preventing risks,” and follow the approach of “focusing on key regions, going all out on key areas, and making breakthroughs in key projects,” to strive to achieve the goals of “four further improvements.”            

According to the latest report released by CCREA, the “2026 Q1 China Real Estate Enterprise Performance Analysis Report (Jan–Mar 2026),” in the first quarter, Greenland Holdings (600606.SH) recorded sales of RMB 13.59 billion, ranking ninth on the list; sales area was 1.43M square meters, ranking fifth. Year over year, sales rose by 14.39% and 11.07%, respectively, achieving double-digit growth in sales targets on a year-over-year basis.

Greenland Holdings’ first-quarter real estate sales achieved “double growth” year over year. First of all, it benefits from the central and local governments’ efforts to promote the real estate market to stop falling and recover, and the results of those efforts. Since this year began, after deep adjustments, some major cities’ real estate markets have already shown signals of stabilizing and bottoming out. CCREA’s Jan–Mar 2026 China Real Estate Enterprise Performance Analysis Report states that this year’s National Two Sessions’ “Government Work Report” clearly sets out efforts to stabilize the real estate market and includes it as a direction of work in the “Fifteenth Five-Year Plan,” which is conducive to stabilizing market expectations and boosting homebuyer confidence. Related indicators such as the transaction area of newly built commodity housing in 50 key cities nationwide and the transaction area of second-hand homes in 20 key cities have all shown signals of bottoming out and stabilizing. Some companies’ sales performance in March rebounded significantly, and some typical real estate developers reported year-over-year growth in their first-quarter sales performance.

Achieving “double growth” in real estate sales year over year in the first quarter is a positive result of Greenland Holdings’ continued efforts to promote the transformation and development of the real estate industry, and it is a positive signal that the business is stabilizing and rebounding. Since last year, faced with a complex and intertwined external environment, Greenland Holdings has fully implemented the basic strategy of “revitalizing existing stock, breaking through incremental growth, increasing inflow, making good use of variables, improving quality, and stabilizing total volume,” and has pushed through a series of key work focused on tackling “stabilizing operations, promoting transformation, and preventing risks,” further accumulating momentum for a better-than-expected direction. In particular, the real estate industry has focused on key tasks such as accelerating the revitalization and disposal of existing inventory, improving operations, and upgrading products, achieving positive results and showing a trend of steady improvement. A batch of existing assets have been effectively revitalized, delivering value enhancement. Through various measures including product adjustments, operational improvements, coordinated linkage with local governments, and supply-chain coordination, Greenland has driven a large number of existing inventory projects to achieve asset revitalization, value appreciation, and inventory-to-cash realization. In 2025, it cumulatively completed inventory disposal of RMB 68.1 billion, a year-over-year increase of 6.5%, making it one of the few companies among large real estate developers to achieve positive growth. A batch of residential projects delivered with high quality, and a batch of functional projects completed construction milestones as scheduled. By continuously implementing the central requirements of “ensuring delivery of completed housing, and stabilizing people’s livelihood,” more than 8 million square meters of residential projects delivered with high quality, promoting a large number of major functional projects to complete their corresponding construction milestones as scheduled and entering a new construction stage. The “Greenland Good Homes” standard has been fully rolled out, with comprehensive improvements to products. In response to new requirements for the new era, it released the “Greenland Good Homes” product standard covering the “four dimensions, 12 transformations, and 78 methods.” It has quickly driven the rollout of the product standards. The first batch identified 25 pilot projects of “Greenland Good Homes,” and a number of key projects achieved tangible results. Among them, Greenland’s fourth-generation pure low-density improvement “good home”—the Tianjin Greenland Shuiyun Chuan project—was officially launched recently. The initial sales were RMB 108 million, with a disposal rate of 87%. A number of key commercial and office (commercial/office) projects achieved improvements in operating levels, continuously enhancing asset value. By placing招商运营 (leasing and operation) in an important strategic position and pushing it forward, Greenland is working to fully enhance the operating levels of key commercial/office projects. Focusing on Greenland’s more than 100 high-quality commercial/office assets across more than 50 cities nationwide, it actively promotes renovation and refresh, continuously improving the value of project assets.

Based on the first quarter’s real estate sales achieving “double growth” year over year, Greenland is now comprehensively promoting a stabilization and improvement in performance, ensuring a strong start and good footing for the “Fifteenth Five-Year Plan” and opening up a new development scenario. Greenland Holdings’ Chairman and President Zhang Yuliang emphasized that 2026 is the first year of the “Fifteenth Five-Year Plan,” and also the critical year for Greenland to reset and forge ahead, chart new paths, and open up new prospects after deep adjustments. In 2026, Greenland will focus on the main line of “stabilizing operations, promoting transformation, and preventing risks,” and follow the approach of “focusing on key regions, going all out on key areas, and making breakthroughs in key projects,” to strive to achieve the goals of “four further improvements.” Operations: further stop the decline and stabilize, and rebound. The company will strive to achieve a stabilization and rebound in key operating indicators; in particular, the main indicators of the real estate business will remain stable, while the amount newly signed in the infrastructure business will strive to achieve faster growth. Transformation: further see results. Digital finance, energy supply assurance, new energy vehicle exports, tourism, and other new-track businesses will accelerate development, becoming important growth points for performance and forming broad influence. Development: further bring out highlights. Focusing on key and hot regions such as Hainan Free Trade Port, the company will land and build a batch of projects that have visibility and influence, forming a business increment of 10 billion (RMB) scale and powerfully guiding the company’s development. Risks: further and smoothly declining. Interest-bearing liabilities will be significantly reduced; overseas debts will be effectively resolved; related risks will be effectively controlled; the company will hold the bottom line of liquidity and safety; and various costs and expenses will continue to decline.

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