GUANGDONG INVESTMENT (270) H1 2026 earnings summary

Executive summary

• Profit attributable to owners rose 9.5% year-over-year to HK$2,935 million for H1 2026, with basic EPS up 9.5% to HK44.90 cents.

• Revenue from continuing operations increased 8.4% to HK$10,217 million, mainly driven by water resources business growth.

• Interim dividend declared at HK29.19 cents per share, up 9.5% year-over-year.

• Special dividend via distribution in specie of Guangdong Land Holdings Limited shares completed in January 2025; GD Land results presented as discontinued operations.

• Total assets reached HK$108,608 million, equity attributable to owners rose to HK$46,253 million.

Financial highlights

• Profit before tax from continuing operations increased 9.9% to HK$4,511 million.

• Net cash inflow from operating activities was HK$3,430 million.

• Gearing ratio at 20.3%, EBITDA/finance cost at 20.1x.

• Net assets increased to HK$62,253 million as of 30 June 2026.

• Gross profit at HK$5,628 million (2025: HK$5,246 million).

Outlook and guidance

• Focus remains on expanding water resources into higher value-added areas and optimizing asset portfolios, with ongoing M&A opportunities.

• Strategy emphasizes balancing progress and stability, enhancing quality and efficiency, and risk control.

• Management will monitor macroeconomic and market conditions, aiming for new profit growth and operational improvements.