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Sun Hung Kai Properties Ltd
XMUN:SHG

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Sun Hung Kai Properties Ltd
XMUN:SHG
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Price: 14.3 EUR Market Closed
Market Cap: €41.4B

Sun Hung Kai Properties Ltd
Investor Relations

Sun Hung Kai Properties is one of Hong Kong’s largest property companies. It buys land, plans and builds residential towers, office buildings, shopping malls, and hotels, then sells many of the homes and commercial units to buyers. It also keeps some properties in its own portfolio and earns rental income from them, especially from offices and malls. Its main customers are homebuyers, commercial tenants, shoppers, and hotel guests. It also works with governments, contractors, and financiers because property development requires land, construction, leasing, and long project timelines. The company makes money in two main ways: selling completed properties and collecting recurring rent and related income from properties it owns and manages. What makes the business model different is that it combines development with long-term ownership. That means it can profit from one-time property sales while also building a steady income base from prime assets. In Hong Kong’s property market, that mix makes it both a builder of new projects and a long-term landlord with a large presence in the city’s key commercial locations.

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Last Earnings Call
Fiscal Period
Q2 2026
Call Date
Feb 26, 2026
AI Summary
Q2 2026

Profit up: The group reported underlying profit of HK$12.2 billion for the 6 months ended December 2025, up 16.7% year on year, while reported profit rose 36.2% to HK$10.2 billion.

Dividend raised: The board declared an interim dividend of HK$0.98 per share, up 3.2% from HK$0.95 a year earlier.

Hong Kong sales strong: Hong Kong property sales were driven by a very active residential market, with attributable contracted sales of about HK$17.4 billion and management saying recent launches have continued to sell well.

Balance sheet improved: Net debt fell to HK$83.6 billion and the gearing ratio improved to 13.5% from 15.1%, helped by a 37% drop in net finance cost.

Leasing momentum building: Management said office leasing is improving in core Hong Kong districts, with IGC leasing progressing and ITC in Shanghai already above 80% occupancy.

Outlook constructive: Management remained positive on Hong Kong residential, office and retail demand, but said it will keep pricing flexible, maintain high occupancy, and stay disciplined on capital allocation and land buying.

Key Financials
Underlying profit
HK$12.2 billion
Reported profit
HK$10.2 billion
Underlying earnings per share
HK$4.21
Reported earnings per share
HK$3.54
Interim dividend
HK$0.98 per share
Property development profit
HK$4.9 billion
Net rental income
about HK$9 billion
Hotel operating profit
HK$428 million
Other business profit
about HK$2.3 billion
Total operating profit
HK$16.5 billion
Net debt
HK$83.6 billion
Gearing ratio
13.5%
Interest cover
8.7x
Hong Kong property sales recognized
HK$26.5 billion
Hong Kong development profit margin
8%
Hong Kong contracted sales
about HK$17.4 billion
Additional Hong Kong contracted sales since January 2026
HK$9 billion
Hong Kong rental gross income
about HK$8.8 billion
Hong Kong occupancy
around 92%
Retail occupancy
94%
Office occupancy
91%
IFC occupancy
98%
Mainland property sales recognized
about HK$5.9 billion
Mainland development profit
HK$2.9 billion
Mainland contracted sales yet to be recognized
about HK$4.1 billion
Mainland contracted sales
over RMB 1.3 billion
Mainland rental income
about HK$3.1 billion
Mainland rental income in RMB
RMB 2.8 billion
Hotel revenue
HK$2.8 billion
Net Hong Kong land bank
57.3 million square feet of attributable GFA
Mainland land bank
64.6 million square feet of attributable GFA
Shanghai ITC occupancy
over 80%
Other Earnings Calls
2026
2021
2018

Management

Mr. Ping-Luen Kwok Hon DBA, Hon LLD, J.P., M.A., M.B.A., MA (Cantab)
Executive Chairman & MD
No Bio Available
Mr. Chik-wing Wong FHKIS, J.P., M.Sc., MSc(IRE), RPS (BS)
Deputy MD & Executive Director
No Bio Available
Mr. Hong-Ki Chan B.Sc., MRICS
Executive Director
No Bio Available
Mr. Ching-Kam Li C.P.A., FCCA
Chief Accountant
No Bio Available

Contacts

Address
45th Floor, Sun Hung Kai Centre, 30 Harbour Road
Contacts
+85228278111.0
www.shkp.com
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