Sun Hung Kai Properties (SHKP) reported a solid set of results for the financial year ended 30 June 2026.

Profit and earnings • Underlying profit attributable to shareholders rose 4.6 % year-on-year to HK$22.85 billion, driven by stronger Hong Kong development earnings and stable recurring income. • Reported profit climbed 11 % to HK$21.43 billion, helped by a HK$1.38 billion net fair-value gain on investment properties versus a HK$0.74 billion loss the prior year. • Underlying earnings per share were HK$7.89, up from HK$7.54. Reported EPS increased to HK$7.39 from HK$6.65.

Revenue and segment performance • Group revenue advanced 18 % to HK$94.19 billion. Including joint ventures and associates, combined revenue reached HK$110.11 billion. • Property development revenue jumped 57 % to HK$54.19 billion; development profit held at HK$8.29 billion as higher Hong Kong contributions offset a lower Mainland profit share. – Key completions in Hong Kong included Cullinan Sky, Cullinan Harbour and SIERRA SEA, while Mainland sales were led by projects in Hangzhou and Suzhou. • Gross rental income (with JVs and associates) inched up 2 % to HK$24.99 billion; net rental income gained 1 % to HK$18.57 billion. – Hong Kong rental revenue was HK$17.70 billion; Mainland HK$6.50 billion; Singapore (ION Orchard) HK$0.79 billion. • Hotel revenue grew 4 % to HK$5.46 billion; operating profit rose 18 % to HK$0.73 billion on higher room rates and occupancy. • Data-centre subsidiary SUNeVision lifted revenue 6 % to HK$3.12 billion and operating profit 9 % to HK$1.62 billion. • Telecom arm SmarTone maintained operating profit at HK$0.75 billion on 6 % revenue growth, while transport and logistics profit fell as the Route 3 franchise expired.

Capital management • Net debt fell 28 % to HK$67.62 billion, cutting the net-debt-to-shareholders’-fund ratio to 10.7 % from 15.1 %. • Average borrowing cost declined to 3.0 % (FY2025: 3.7 %); interest cover improved to 8.5 times. • Undrawn committed bank facilities and cash totalled HK$30.05 billion.

Dividends • The Board proposed a final dividend of HK$2.93 per share, bringing the full-year distribution to HK$3.91 per share, up 4 % year-on-year. The final payout is scheduled for 19 November 2026, subject to shareholder approval on 5 November 2026.

Operational highlights • Attributable contracted sales reached HK$40.60 billion; unrecognised contracted sales stood at HK$23.60 billion, of which HK$21.00 billion relates to Hong Kong projects scheduled for booking in FY2026/27. • Hong Kong land bank expanded to 59.4 million sq ft after winning the Tuen Mun A16 Package Two tender; Mainland land bank totalled 64.7 million sq ft. • Major investment property completions included International Gateway Centre in West Kowloon and ITC Tower B in Shanghai, adding to recurring income momentum.

Outlook Management remains confident in long-term prospects for Hong Kong and Mainland China, citing ample liquidity, low gearing and a pipeline of new launches and investment properties slated for completion in the coming year.