WHARF REIC (01997) announces its mid-year performance results, with a shareholder loss of HKD 2.406 billion, representing a 128.71% increase from the same period last year. The first interim dividend is HKD 0.66 per share.

WHARF REIC (01997) reported its mid-year performance for 2025, with group revenue of HK$6.407 billion, a decrease of 1.45% year-on-year. Shareholders' net loss was HK$2.406 billion, an expansion of 128.71% year-on-year, with a loss per share of HK$0.79. The first interim dividend was HK$0.66 per share. In Hong Kong, the government has been promoting local events more vigorously. The number of inbound tourists continues to grow, recording a 12% increase. There are signs of a slowdown in local outbound tourism. Retail sales in Hong Kong have narrowed their decline, and preliminary positive growth was recorded in May and June, ending fourteen consecutive months of decreases. In response to changing tourism and consumption patterns, the group is actively enhancing experiential retail services to deepen customer engagement and drive sales. Although the office market still faces challenges of weak demand and oversupply, the group's office portfolio has performed well with improvements in leasing rates. Hotel occupancy rates have increased, but room rates face pressure due to regional competition and consumer sentiment. In a weak asset valuation market, the group's investment properties recorded impairment losses. To address the fluctuating market environment, the group maintains prudent financial management measures. By the end of the period, net debt had further decreased to HK$33.3 billion, the lowest level since the company went public. The average interest cost decreased to 4.4%, resulting in a 27% saving on borrowing costs. The debt ratio remained at a healthy level of 17.6%.