Sinyi Realty Q3 Profit Up 118% Year on Year; Project Handovers Help, Company Sees Gradual Housing Market Recovery

Sinyi Realty released strong Q3 results. Consolidated revenue was NT$2,830 million, up 22.81% year on year, and quarterly profit doubled to NT$189 million, up 118.60% year on year, with earnings per share of NT$0.26. Cumulative net profit for the first 3 quarters was NT$678 million, up 1137% year on year, with earnings per share of NT$0.92.

The two main drivers of the sharp profit growth were its core brokerage business and project handovers. As the disruption from policy eased, the brokerage business improved markedly, and service revenue increased by NT$119 million. At the same time, sales of "Shanshui Jiating" in mainland China opened strongly and 85% has been sold, and handovers of the project in Q3 also contributed more than NT$400 million in revenue. In addition, the self-built project "Sinyi Jiapin" was completed and handed over from the end of last year to the beginning of this year, and accounts for about 20% of revenue.

Looking ahead, Zeng Jingde, a project manager at Sinyi Realty's Real Estate Research Office, said that with more than 2 years having passed since the seventh round of credit controls took effect and their impact gradually fading, housing transfer volume in Q4 has shifted from a year-on-year decline to a slight year-on-year increase. The company is also continuing to advance its development projects. The Tucheng–Shulin MRT line joint development project has been signed, and presales are expected to be launched in phases starting in the second half of 2028.