Sell, sell, sell! Kone Elevator plans to sell 19 properties, with over 100 units sold in the past three years.

Every Daily Reporter｜Wang Jing    Every Daily Editor｜Liao Dan

On the evening of March 26, Kangli Elevator (SZ002367, share price 7.46 yuan, market cap 5.951 billion yuan) released an announcement regarding its proposed sale and the revitalization of certain real estate assets. The announcement states that the company plans to sell 19 properties located in Pingxiang, Jiangxi; Xinyang and Pingdingshan, Henan; Taizhou and Kunshan, Jiangsu; Huainan, Anhui, and other places. The properties’ total book value original cost amounts to 19.3506 million yuan; as of February 28, 2026, the unaudited book value is 15.7985 million yuan, accounting for 0.44% of the company’s audited consolidated net assets attributable to the parent as of the end of 2025.

Regarding the reasons for this sale and revitalization of part of its real estate assets, Kangli Elevator explained in the announcement that this move is related to the company’s operational reform. Its purpose is to revitalize assets, dispose of some inefficient assets, recoup cash, and improve the utilization efficiency of funds. “The specific sale progress and completion timeline for the aforementioned assets are still not controllable. It is expected to have a positive impact on the company’s financial position and operating results.”

Since 2023, the company has issued multiple announcements about selling properties. Specifically, in 2025 it sold 50 units, with a total book value of 26.2447 million yuan (book value original cost 46.3991 million yuan); in 2024 it sold 66 units, with a total book value original cost of 88.0979 million yuan; in 2023 it sold 6 units, with total net book value of 31.3694 million yuan (book value original cost 34.9499 million yuan).

According to public information, Kangli Elevator was established in 1997 and was listed on the Shenzhen Stock Exchange in 2010. The company is a modern, comprehensive elevator enterprise group integrating R&D, design, production, sales, renovation, and related services for elevator and escalator and automatic sidewalk products. Its products include passenger elevators, freight elevators, commercial escalators, and automatic sidewalks, among others, mainly used in various scenarios such as residential, commercial, hotel, shopping malls, hospitals, and tourist attractions.

In terms of performance, in 2025 Kangli Elevator achieved operating revenue of 4.448 billion yuan, up 8.93% year over year; net profit attributable to shareholders of listed companies was 330 million yuan, down 7.56% year over year. The company’s average gross margin from its main business was 28.33%, slightly down 0.42 percentage points year over year.

It is understood that the drivers of Kangli Elevator’s performance are related to the real estate market, and are also closely tied to the company’s own operating strategies, operating efficiency, product and pricing strategies, among others. Among them, in 2025 the supply side of the real estate market continued to contract. Full-year real estate development investment was 8.27 trillion yuan, down 17.20% year over year. The areas for construction, new starts, and completions each declined by 10%, 20.4%, and 18.1% year over year, respectively. Meanwhile, the decline in the transaction scale of newly built commercial housing and secondhand housing in the real estate market gradually narrowed. At the same time, competition in the elevator industry intensified, and the company’s demand for new orders and the pressure on pricing continued.

Cover image source: AIGC

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