Yamada Green 1H FY2026 profit drops 66% to RMB0.6m despite higher margins as FX losses, opex climb
Summary:
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1H FY2026 revenue was broadly flat at RMB7.94m (+0.5% year on year), but net profit fell 66.3% to RMB0.63m as foreign‑exchange losses and higher admin expenses offset margin gains.
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Gross profit rose 15.8% to RMB5.79m and gross margin expanded to 73.0% from 63.3% on lower property and government taxes, while investment property revenue was supported by higher occupancy and added space in Japan.
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Other operating income dipped to RMB1.23m on the absence of scrap‑sales income post food‑processing exit, and other operating expenses surged to RMB1.92m mainly on higher FX losses.
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The Group’s investment property portfolio grew to a fair value of about RMB244.3m after acquisitions in Japan, lifting non‑current assets to RMB252.6m; net operating cash inflow was RMB1.83m but heavy Japan acquisitions drove a RMB9.1m fall in cash to RMB11.3m.
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Net asset value per share was RMB133.4 cents at 31 December 2025 (30 June 2025: RMB133.9 cents), and the Group drew down about RMB11.4m in new secured bank borrowings in China and Japan, backed by property collateral.