Sunac's 2025 losses halve to 12.3 billion yuan; debt restructuring boosts profits but development business turns to loss again

WealthCoffee · 2026-03-29T14:34:06+00:00

Sunac China releases earnings announcement after debt restructuring, achieving revenue of 45.12 billion yuan in 2025, down 39% year-on-year. Losses narrowed to 12.33 billion yuan, mainly due to the still significant losses after excluding debt restructuring gains.

WealthCoffee

2026-03-29 14:34:06

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[Caixin] After completing the domestic and foreign debt restructuring, Sunac China (01918.HK) has delivered a “more than half reduction in losses” report card. The performance announcement released on the evening of March 27 shows that in 2025, Sunac China achieved revenue of 45.12 billion yuan, a year-on-year decrease of 39.0%; the loss attributable to shareholders of the company was 12.33 billion yuan, narrowing approximately 52% from 25.70 billion yuan in 2024.

Sunac significantly reduced its losses, primarily due to recording a total of 32.97 billion yuan in gains from debt restructuring in 2025, an increase of 23.08 billion yuan year-on-year. The restructuring gains stem from the difference between the book value of the debt and the actual consideration paid or the value of the restructured debt, and are recognized in full in the current profit. If this factor is excluded, Sunac China remains in a state of deep losses.

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