HKR International (480) H2 2026 earnings summary

Executive summary

• Revenue rose 68% year-over-year to HK$2,947.4 million, driven by property sales in Shanghai's River One project and luxury house disposals in Discovery Bay.

• Underlying profit increased to HK$211.5 million from HK$70.0 million, while loss attributable to owners narrowed to HK$262.3 million from HK$786.0 million.

• No final or interim dividend was declared for FY2026.

Financial highlights

• Gross profit was HK$663.2 million, down from HK$961.9 million year-over-year due to higher cost of sales.

• Finance costs decreased to HK$303.6 million from HK$408.2 million.

• Net debt stood at HK$10,080.0 million, with a gearing ratio of 44.2%.

• Shareholders' fund increased to HK$22,811.7 million.

• Average financing cost dropped to 3.9% from 5.6% the previous year.

Outlook and guidance

• The group will focus on cost management, AI integration, and prudent capital management to drive long-term value.

• Positive sentiment in Hong Kong's residential market is expected to support future performance, with the Toscana project launch anticipated.