Shenzhen Overseas Chinese Town Co., Ltd. (Overseas Chinese Town) saw a year-on-year decline in its operating income, net profit, total assets, and net assets attributable to shareholders of listed companies in 2025. Specifically, the net profit attributable to shareholders of listed companies incurred a loss of approximately 14.496 billion yuan, a decrease of 67.35% compared to the previous year.
On March 31, Overseas Chinese Town released its “2025 Annual Report.” The report revealed that in 2025, the company achieved operating income of 31.381 billion yuan, a decrease of 42.32% year-on-year, and recorded a net profit attributable to the parent company of -14.496 billion yuan, a decrease of 67.35% year-on-year.
Furthermore, the net profit attributable to shareholders of listed companies, excluding non-recurring profits and losses, was a loss of 14.386 billion yuan, down 62.92% year-on-year. The total assets were approximately 280.3 billion yuan, a decrease of 13.51% year-on-year, with net assets attributable to shareholders of listed companies at around 38.723 billion yuan, down 27.2% year-on-year. By the end of 2025, the total interest-bearing debt amounted to 118.5 billion yuan, with long-term loans accounting for 69%.
The report cited reasons for the increased loss, stating, “The main reason for the increased loss is that the company actively adapted to changes in the market environment according to its annual business strategy and vigorously promoted the sales and cash flow improvement of existing businesses through asset transfers, resulting in losses from related transactions, as well as a decrease in project turnover revenue and gross profit margin compared to the previous year.”
The “2025 Annual Report” shows that Overseas Chinese Town has two main pillar industries: tourism and real estate. The tourism sector accounted for approximately 213.71 billion yuan in operating income, representing 68.1%, while the real estate sector accounted for about 98.48 billion yuan, representing 31.39%.
The report detailed various indicators for the real estate sector in 2025: “The sales area of newly constructed commercial residential buildings was 880 million square meters, a decrease of 8.7% from the previous year, with a 9.2% decrease in residential sales area; the sales volume of newly constructed commercial residential buildings was 84 trillion yuan, down 12.6% from the previous year, with a 13.0% decrease in residential sales volume; national real estate development investment was 8.3 trillion yuan, down 17.2% from the previous year; the completed area of buildings was 600 million square meters, down 18.1% from the previous year, with residential completion area of 430 million square meters, a decrease of 20.2%.” None of the indicators showed growth, all experiencing declines.
Regarding the future of the company, the report mentioned that there are profitability risks, financial risks, and market risks. On one hand, both the real estate and cultural tourism businesses face the challenges of excessive market investment, long development cycles, and significant repayment pressures. On the other hand, the real estate market is sluggish, while the cultural tourism business is susceptible to factors such as consumer spending power and travel preferences, leading to fluctuations in visitor traffic and operational revenue. These factors may create short-term debt repayment pressures and have an impact on the company’s financial stability.
Public information indicates that Overseas Chinese Town Group Co., Ltd. is a large centrally state-owned enterprise directly managed by the State-owned Assets Supervision and Administration Commission of the State Council of the People’s Republic of China. The company was established on November 11, 1985, with its headquarters located in Shenzhen, Guangdong Province, China.