R&F Properties (2777) has issued a profit warning, projecting a net loss for the first half of 2026 in the range of RMB 5.0 billion to RMB 5.5 billion.

That guidance compares with a RMB 4.082 billion net loss recorded for the same period in 2025, according to Ming Pao.

The company cited the ongoing weakness of the Chinese property market, noting that the downturn has reduced gross profit from its property development activity, contributing to the larger anticipated loss.