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$5,185m, driven by strong property sales and higher hotel and property management income.

• Net profit attributable to shareholders fell 15.8% year-over-year to HK$1,533m, mainly due to a revaluation loss on investment properties and reduced bank interest income.

• Underlying profit attributable to shareholders was HK$2,220m, slightly down from HK$2,241m year-over-year, with underlying EPS at HK$0.24, down 6.3%.

• 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$6,912m, driven by strong launches and sales in Hong Kong and Singapore.

Financial highlights

• Net cash position increased to HK$51,402m as of 31 December 2025, up from HK$49,461m at 30 June 2025.

• Shareholders' funds rose 0.6% to HK$170,498m compared to 30 June 2025.

• Net book value per share was HK$17.98 as of 31 December 2025.

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

• Total assets at HK$186,561m as of 31 December 2025.

Outlook and guidance

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

• Two new project launches planned for 2026, subject to pre-sale consent and market conditions.

• Positive market sentiment supported by rate cuts, robust IPO activity, and rising accommodation demand.

• Anticipates further recovery in tourism and retail, with a robust event pipeline in 2026.

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