Seazen stock fell 1.72 percent on September 25, 2026

Seazen stock fell 1.72 percent to HKD 1.43 at the September 25, 2026 close on the Hong Kong Stock Exchange, while its market capitalization stood at HKD 10.4 billion. The latest operating figures show a sharp split between weaker property sales and stronger recurring commercial income.

Revenue fell as margins improved

According to Futunn on September 7, 2026, Seazen reported first-half 2026 revenue of RMB 17,686.4 million, down 20.2 percent from the same period in 2025. Gross profit reached RMB 5,424.0 million, and gross margin increased to 30.7 percent from 24.4 percent.

Net profit attributable to equity holders was RMB 608.1 million in the first half of 2026, a 12.1 percent year-over-year decline, according to Quartr on September 7, 2026. The margin improvement indicates that commercial property management and rental income accounted for a larger share of the revenue mix.

Sales remain the main pressure

MarketScreener reported on September 11, 2026, that Seazen generated RMB 889 million in contracted sales in August, down 43.59 percent year over year. Cumulative contracted sales from January through August reached RMB 8.107 billion, a 40.24 percent decline from the prior-year period.

The contrast matters for investors: recurring commercial operations produced RMB 1.291 billion in August revenue, up 8.12 percent year over year, while residential contracted sales remained under pressure. That mix can support margins, but it does not yet offset the contraction in development sales.

Target price moves lower

After reviewing the first-half results, Futunn reported that Goldman Sachs cut its Seazen target price from HKD 1.80 to HKD 1.55, a 13.89 percent reduction, and assigned a Sell rating. The lower target reflects weaker development sales, pressure on profit and cash flow, and debt repayment concerns.

Stock stays below yearly high

Seazen shares closed at HKD 1.43 on September 25, 2026. The same snapshot showed a 52-week range of HKD 1.30 to HKD 2.81, with volume of 7,078,000 shares and market capitalization of HKD 10.4 billion.