Poly Development's contracted sales in the first two months were approximately 25.7 billion yuan, a decrease of 24.29% year-on-year.

NightAirdropper · 2026-03-13T03:14:41+00:00

Poly Development's February sales performance declined significantly, with contract amount decreasing 36.66% year-over-year and contract area declining 41.91%. Data for the first two months of 2026 also shows a notable downturn. Additionally, the company added a residential project in Shijiazhuang, Hebei, and won a land parcel in Hangzhou with a total transaction price of 3.224 billion yuan.

NightAirdropper

2026-03-13 03:14:41

Abstract generation in progress

On March 9th, Poly Developments (600048.SH) disclosed its sales figures for February.

Data shows that in February, Poly Developments signed contracts worth 10.132 billion yuan, a 36.66% decrease year-on-year; the contracted area was 454,800 square meters, a 41.91% decrease year-on-year.

In the first two months of 2026, Poly Developments achieved a contracted area of 1.1847 million square meters, a 23.81% decrease year-on-year; the signed amount was 25.749 billion yuan, a 24.29% decrease year-on-year.

In terms of land acquisition, in February, Poly Developments added a new project: a land parcel on the south side of Zhengang Road, Qiaoxi District, Shijiazhuang City, Hebei Province. The land is residential, covering 43,121 square meters, with a planned floor area ratio of 94,867 square meters, and a payment of 687 million yuan.

On March 6, in Hangzhou’s land auction market, the SC080201-27 plot in Chengdong New City, Shangcheng District, was won after 109 rounds of bidding by Zhejiang Poly Urban Development Co., Ltd., a subsidiary of Poly Developments, with a total price of 3.224 billion yuan. The transaction floor price was 44,990 yuan per square meter, with a premium rate of 51.08%.

The plot was originally designated for commercial use but was rezoned for residential use in April 2025 after a “commercial to residential” adjustment. After the change, the floor area ratio was reduced from 3.0 to 2.2, and the green space ratio increased from 25% to 35%.

The land is located at the intersection of Xintang Road and Huan Station West Road in Shangcheng District, adjacent to Greentown Cuiyin Jianglin South. The transfer area is 32,600 square meters, with a floor area ratio of 2.2, a planned building area of 71,700 square meters, and a height limit of 55.98 meters. The starting total price was 2.134 billion yuan, equivalent to approximately 29,800 yuan per square meter of floor area.

As of the close on March 10th, Poly Developments was trading at 6.35 yuan per share.

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