Sinyi Realty's H1 2026 EPS Hits NT$0.66 as Q2 Marks Near Seven-Quarter High

How did Sinyi Realty perform in the first half?

According to a UDN report published July 29, Sinyi Realty (信義房屋, stock code 9940) released its financial results showing after-tax profit of NT$488 million for the first half of 2026, a swing from a loss in the same period last year (E1). Per-share earnings for the half came to NT$0.66 (E2). A separate CTEE report dated July 30 added the revenue side of the picture: first-half revenue reached NT$5.936 billion, up 31.7% year-on-year, which the outlet linked to a Q2 rebound in real estate transactions (E10).

What exactly was Q2 EPS, and why do reports differ?

The two outlets estimated the second-quarter figure slightly differently. UDN, working backward from the first-quarter report, calculated Q2 after-tax profit of NT$329 million and Q2 EPS of NT$0.44 (E3, E4). CTEE, citing company statements, put the second-quarter EPS at NT$0.45, describing it as the strongest single-quarter result since the housing market turned in the fourth quarter of 2024 (E9). The NT$0.44-versus-NT$0.45 gap reflects the difference between an outlet's own back-calculation from disclosed first-half and first-quarter totals versus a figure attributed directly to company statements (E20).

What drove the Q2 rebound from Q1?

According to UDN, Sinyi Realty's core brokerage business rebounded in the second quarter, with earnings roughly doubling from the first quarter (E3, E6). The report attributed the pickup to three factors: buying sentiment recovering somewhat after a central bank policy meeting, the seventh round of housing-credit controls having been in place for more than 18 months by that point — allowing the market to gradually absorb the negative impact — and stable unit sales at the company's Wuxi project "Shanshui Jiating" in mainland China (E6). CTEE separately noted that monthly revenue during this period averaged back above the NT$1 billion mark, a clear improvement from the NT$700–800 million monthly average seen during the prior housing downturn (E12).

How does per-share performance compare with the same period last year?

The first-half EPS of NT$0.66 compares with a per-share loss of NT$0.04 in the same period a year earlier, according to CTEE (E2, E11). The swing from loss to profit is consistent with the after-tax profit figure UDN reported, which it also described as a reversal from a year-ago loss (E1).

What is the status of development projects and cost planning?

UDN reported that Sinyi Realty's board approved a resolution authorizing its development arm, Sinyi Development, to negotiate real estate investment or bidding deals — including joint construction, urban renewal, and tender projects in the Taipei metro area — within a combined total construction cost cap of NT$2 billion, with chairman Chou Chun-chi (周俊吉) given full authority to handle terms and contract signing (E5). On project timelines, the same report said the "Jiaxue" (嘉學) project is expected to be handed over in 2028, while contracts for the LG and Jiekai (捷開) projects have already been signed, with launches planned for the second half of 2027 (E7).

What's Sinyi Realty's outlook for the housing market?

According to UDN, Sinyi Realty said a modest adjustment to central bank housing policy would help ease the market's subdued mood, but the company still expects the market to maintain a "volume-and-price consolidation" pattern rather than a clear turnaround (E8). That cautious framing sits alongside the same report's earlier point that the seventh round of credit controls had only been in place for a little over 18 months, suggesting the market was still in the process of absorbing prior restrictions rather than moving past them entirely (E6).

What this all adds up to

The headline numbers point in one direction — a swing from a per-share loss of NT$0.04 a year ago to EPS of NT$0.66 in H1 2026, with revenue up 31.7% year-on-year and monthly revenue back above the NT$1 billion mark (E1, E2, E10, E11, E12) — while the company's own market read stays more measured. Even as UDN and CTEE differ by a single cent on their Q2 EPS estimates (NT$0.44 versus NT$0.45), both describe the quarter as a near seven-quarter high (E4, E9, E20). Yet Sinyi Realty's own outlook language — "volume-and-price consolidation" rather than recovery — suggests the company itself is not characterizing the rebound as the start of a sustained upturn, even as it books its first profitable half in a year (E6, E8).