HANG LUNG PPT (00101) releases annual performance, with shareholders' net profit up 3% to 3.202 billion Hong Kong dollars and a final dividend of 0.4 Hong Kong dollars.

HANG LUNG PPT (00101) announced its full-year performance for 2025, with total revenue of HK$9.95 billion, a decrease of 11% compared to the previous year, mainly due to a 83% decline in property sales revenue to HK$264 million. Overall operating profit increased by 1% to HK$6.527 billion. Due to the continued weakness in the Mainland office leasing market and slower-than-expected economic recovery in Hong Kong, property leasing revenue and operating profit fell by 1% to HK$9.389 billion and HK$6.663 billion respectively. The expansion of the hotel property portfolio drove related revenue up by 57% to HK$297 million, and operating losses narrowed by 46% to HK$34 million after considering asset depreciation. Shareholders' attributable basic net profit increased by 3% to HK$3.202 billion. The narrowing of property sales losses was enough to offset the decrease in property leasing operating profit, as well as the increase in financial expenses due to reduced capitalized interest. Basic earnings per share were HK$0.65. A final dividend of HK$0.40 per share is proposed. After considering a net revaluation loss of HK$1.396 billion on shareholders' attributable property (2024: HK$0.942 billion), HANG LUNG PPT recorded a shareholders' attributable net profit of HK$1.806 billion (2024: HK$2.153 billion), corresponding to earnings per share of HK$0.37 (2024: HK$0.46). The company continues to focus on developing projects that align with its long-term goals, through the "Hang Lung V.3" strategy, expanding business footprint in major cities, enhancing customer experience, and carefully selecting capital efficient projects for reinvestment to strengthen business scale, visibility, and accessibility. Over the past year, the company announced a series of "Hang Lung V.3" strategy projects, including Hang Lung Plaza Shangyi Street in Kunming, expansion projects for Hang Lung Plaza in Hangzhou and Wuxi, and commercial operation project at 1038 Nanjing West Road in Shanghai. Benefitting from the focus of "Hang Lung V.2" on Mainland core business districts, "Hang Lung V.3" is focusing on expanding the efficiency of existing assets, reducing capital requirements, while responding to government policies. Other ongoing projects include the second phase of Hang Lung Plaza in Wuxi, expansion projects for Hang Lung Plaza in Hangzhou and Shanghai, and comprehensive development project at Shenyang City Hall Hang Lung Plaza.