Sino Land Company (83) H2 2026 earnings summary

Executive summary

• Achieved strong balance sheet with net cash position of HK$55,130 million as at 30 June 2026, up HK$5,669 million year-over-year.

• Revenue rose 13.3% year-over-year to HK$9,273 million, driven by higher property sales and new project launches.

• Reported net profit attributable to shareholders increased 14.2% year-over-year to HK$4,589 million, supported by a smaller revaluation loss on investment properties.

• Underlying profit from operations declined 6.4% year-over-year to HK$4,789 million, impacted by lower interest income and reduced net rental income.

• Maintained full-year dividend at HK$0.58 per share, with a payout ratio of 113.7% and a scrip option subject to approval.

Financial highlights

• Revenue: HK$9,273 million (+13.3% year-over-year).

• Net profit: HK$4,589 million (+14.2% year-over-year).

• Underlying EPS: HK$0.51 (-12.1% year-over-year).

• Shareholders' funds: HK$173,875 million (+2.6% year-over-year).

• Net book value per share: HK$18.14 (-2.0% year-over-year).

Outlook and guidance

• Over HK$6.6 billion in attributable contracted sales not yet recognized.

• Strong sales momentum for La Mirabelle I & II, with over 1,060 units sold since March and July 2026 launches.

• The Group plans to launch new projects, including the Wing Kwong Street/Sung On Street Development, and continues to replenish its land bank selectively.

• AI transformation and sustainability are strategic priorities, with ongoing investments in talent and technology.

• The Group remains cautious amid global geopolitical uncertainties, inflation, and evolving interest rate expectations, focusing on disciplined capital management and operational flexibility.