Sino Land Company (83) H1 2026 earnings summary

Executive summary

• Revenue for the six months ended 31 December 2025 rose 34.5% year-over-year to HK$5,185 million, driven by strong property sales and higher hotel and property management income.

• Net profit attributable to shareholders fell to HK$1,533 million from HK$1,820 million year-over-year, mainly due to higher revaluation losses on investment properties and reduced bank interest income.

• Underlying profit attributable to shareholders was HK$2,220 million, slightly down from HK$2,241 million year-over-year, with underlying EPS at HK$0.24, down from HK$0.26.

• Interim dividend per share maintained at HK$0.15, with a payout ratio of 62.2% and a scrip option available.

• Property sales revenue surged to HK$6,912 million, driven by successful launches and strong residential demand in Hong Kong and Singapore.

Financial highlights

• Net cash position increased to HK$51,402 million as of 31 December 2025, with cash and bank deposits totaling HK$53,201 million.

• Shareholders' funds rose to HK$170,498 million, and total assets reached HK$186,561 million.

• Net book value per share was HK$17.98, down from HK$18.51 as at 30 June 2025.

• Gross profit increased to HK$2,257 million from HK$1,653 million year-over-year.

• Net cash generated from operating activities was HK$152 million.

Outlook and guidance

• Approximately HK$4.6 billion in attributable contracted sales not yet recognized, with HK$2.3 billion expected in 2H FY2025/26.

• New project launches planned for 2026, including La Mirabelle and Wing Kwong Street/Sung On Street Development, subject to pre-sale consent and market conditions.

• Positive market sentiment supported by interest rate cuts, robust IPO activity, and government talent schemes.

• Retail sales and tourism expected to benefit from a strong event pipeline and increasing visitor arrivals.

• Strategic focus on sustainability, AI adoption, and prudent financial management to drive long-term value.