Sun Hung Kai Properties Limited · HKEX:16

Sun Hung Kai Properties — FY2025 Earnings Presentation

44 slides from Sun Hung Kai Properties's earnings presentation, Sep 4, 2025

  1. Slide 1: FY2025 Annual Results

    Cover 2 FY2025 Annual Results 4 September 2025 24 February 2022 FY2025 Annual Results

  2. Slide 2: Contents

    Contents Page Financial Review – FY2025 4 Property Business – Hong Kong  Land Bank 10  Property Development 13  Property Investment 17 Property Business – Mainland  Land Bank 25  Property Development 27  Property Investment 30 Hotel Business 34 Sustainability 36 Market and Business Prospects 3

  3. Slide 3: Disclaimer

    Disclaimer The information contained in these materials is intended for reference and general information purposes only. Neither the information nor any opinion contained in these materials constitutes an offer or advice, or a solicitation, recommendation or suggestion by Sun Hung Kai Properties Lim

  4. Slide 4: Financial Review – FY2025

    IFC and ICC, Hong Kong FINANCIAL REVIEW – FY2025 FY2025 Annual Results

  5. Slide 5: Financial Highlights

    Financial Highlights FY2025 FY2024 Change Profit attributable to the Company’s shareholders - Underlying(1) (HK$ mn) 21,855 21,739 +0.5% - Reported (HK$ mn) 19,277 19,046 +1.2% Basic earnings per share - Underlying(1) (HK$) 7.54 7.50 +0.5% - Reported (HK$) 6.65 6.57 +1.2% Final dividend per share (H

  6. Slide 6: Profit Breakdown by Segment

    Profit Breakdown by Segment Profit Breakdown by Segment(1) FY2025 FY2024 Change (in HK$ mn) (I) Property development - Hong Kong 3,200 6,513 - Mainland 5,090 1,337 Sub-total 8,290 7,850 +5.6% (II) Property rental - Hong Kong 12,956 13,423 - Mainland 4,864 5,027 - Singapore 572 550 Sub-total 18,392 1

  7. Slide 7: Financial Position

    Financial Position 30 Jun 31 Dec 30 Jun As at 2025 2024 2024 Shareholders’ equity (HK$ mn) 617,851 605,046 606,717 - Shareholders’ equity per share (HK$) 213.2 208.8 209.4 Net debt (HK$ mn) 93,298 107,828 110,866 Gearing ratio(1) 15.1% 17.8% 18.3% FY2025 FY2024 Interest cover(2) 6.0x 4.6x (1) Calcul

  8. Slide 8: Prudent Financial Management

    Prudent Financial Management Net Debt and Gearing Ratio Demonstrated Prudent Financial Management Discipline (HK$ mn) 140,000 21.2% 22% 19.2% 20%  Further reduced net debt; which peaked 127,786 17.4% 18.2% 18.3% 17.8% 18% in Dec 2023 114,067 110,000 104,608 109,773 110,866 107,828 16%  Net finance

  9. Slide 9: Prudent Financial Management (Cont’d)

    Prudent Financial Management (Cont’d) Fixed & RMB Floating Rate Debt: 55% Debt Maturity Profile Debt (HK$bn) As at 30 Jun 25 As at 30 Jun 24 HKD 30.51 (27%) 32.86 (26%) Fixed >5 years, <1 year, 13% RMB 11.64 (11%) 6.80 (5%) 12% HKD 47.32 (43%) 67.01 (53%) Floating Between 1 RMB 18.77 (17%) 18.73 (15

  10. Slide 10: Property Business – Hong Kong Land Bank

    Sierra Sea and GO PARK Sai Sha PROPERTY BUSINESS – HONG KONG LAND BANK FY2025 Annual Results

  11. Slide 11: Land Bank in Hong Kong

    Land Bank in Hong Kong  Total land bank as at 30 June 2025: 57.4 mn sq.ft.(1) Completed Properties Properties under Development (3) Data Centre Industrial Data Centre Industrial (3) 4% Residential 1% 3% 9% 12% Office 17% Hotel 13% Residential 67% Retail Retail 33% 12% Office 29% (2) Total: 37.7 mn

  12. Slide 12: Land Bank in Hong Kong (Cont’d)

    Land Bank in Hong Kong (Cont’d)  Added five residential sites through public tenders and land exchanges, maintaining prudent financial discipline Location Usage Stake Attributable (%) Gross Floor Area (square feet) Hung Shui Kiu Town Lot No. 5 Residential/ (1) 50 524,000 (adjacent to the future MTR

  13. Slide 13: Property Business – Hong Kong Property Development

    NOVO LAND, Tuen Mun PROPERTY BUSINESS – HONG KONG PROPERTY DEVELOPMENT FY2025 Annual Results

  14. Slide 14: Recognized Property Development in Hong Kong

    Recognized Property Development in Hong Kong (1) Property Development FY2025 FY2024 Change Revenue (HK$ mn) 26,139 24,745 +5.6% Operating profit (HK$ mn) 3,200(2) 6,513 -50.9%  Major contributors of operating profit of HK$3.2 bn:  YOHO WEST Phase 1, The YOHO Hub II, and NOVO LAND Phase 3B  Additi

  15. Slide 15: Contracted Sales in Hong Kong for FY2025

    Contracted Sales in Hong Kong for FY2025  Hong Kong’s residential market showed further signs of stabilization. Sales in the primary market have been active  Achieved contracted sales of about HK$42.3 bn. Major contributors include: Stake Attri. Sales Proceeds Project (%) (HK$ bn) Cullinan Sky Pha

  16. Slide 16: New Projects to be launched in the Next 10 Months

    New Projects to be launched in the Next 10 Months Stake Attri. GFA 3 Location MTR/ High speed railway Project (%) (sq.ft.) (1) Sai Sha Residences Sai Sha 100 839,000 Ph. 2A & 2B (2) Cullinan Sky Ph.2 Kai Tak 100 495,000 1 (3) Fanling Sheung Shui Town Kwu Tung 100 315,000 Lot No. 279 Ph.1 (4) 13-23 W

  17. Slide 17: Property Business – Hong Kong Property Investment

    APM, Kwun Tong PROPERTY BUSINESS – HONG KONG PROPERTY INVESTMENT FY2025 Annual Results

  18. Slide 18: Rental Income – Hong Kong

    Rental Income – Hong Kong  Gross rental income registered a modest decrease in FY2025 Gross Rental Income by Sector in Hong Kong(1) Modest decrease in retail portfolio but HK$ mn challenges remain for office rental 20,000 18,027 17,551 17,738 17,942 Retail 17,531 (-2.3% yoy) 52% 16,000 6,603 6,213

  19. Slide 19: Hong Kong Retail Portfolio

    Hong Kong Retail Portfolio  Registered resilient rental performance with stable occupancy of about 95%  Adopt multi-pronged approach to strengthen competitive edge Explore new opportunities with agility and pioneering retail formats Refine tenant-and-trade mix and ongoing asset and service enhance

  20. Slide 20: Initiatives to Enhance Shoppers’ Experience

    Initiatives to Enhance Shoppers’ Experience  Diverse portfolio with distinct positioning that encompasses flagship and regional malls  Located at the centre of residential districts tapped the potential of the vast population  Benefit from the recovery in inbound tourism, coupled with a fascinati

  21. Slide 21: Initiatives to Enhance Shoppers’ Experience (Cont’d)

    Initiatives to Enhance Shoppers’ Experience (Cont’d) The Point Gold: Exclusive VIP Programme with Unique Privileges First VIP lounge at New Town Plaza  Steady increase in spending by active members and high-value customers  Creating synergies through unique privileges across the Group’s diverse bu

  22. Slide 22: Hong Kong Office Portfolio

    Hong Kong Office Portfolio High Retention Benefits from Flight-to-quality Trend High green-building standards Meticulous property management  Regular upgrades and attentive services  ICC achieved upgraded LEED v5.0  Developed long-term relationships with tenants Platinum certification  First cer

  23. Slide 23: Expanding Portfolio to Strengthen Recurring Income Base

    Expanding Portfolio to Strengthen Recurring Income Base  Features cutting-edge sustainable building specifications, biophilic design, and wellness-focused elements such as social space and abundant greenery  Premium grade-A office towers, namely International Gateway Centre (IGC)  Handover to beg

  24. Slide 24: Expanding Portfolio to Strengthen Recurring Income Base (Cont’d)

    Expanding Portfolio to Strengthen Recurring Income Base (Cont’d)  Recurrent income base will be further expanded in the next two to three years as new investment properties are coming on stream Cullinan Sky Mall Retail GFA: 220,000 sq.ft Phased opening from 4Q of 2025 Artist Square Towers Scramble

  25. Slide 25: Property Business – Mainland Land Bank

    Hangzhou IFC, Hangzhou (Rendering) PROPERTY BUSINESS – MAINLAND LAND BANK FY2025 Annual Results

  26. Slide 26: Land Bank on the Mainland

    Land Bank on the Mainland  Total land bank as at 30 June 2025: 65.3 mn sq.ft.(1) Completed Properties Properties under Development Hotel Hotel, Residential 9% 4% 10% Residential 40% Office 35% Office 38% Retail 43% Retail 21% (2) Total: 21.1 mn sq.ft. Total: 44.2 mn sq.ft. (1) In attributable terms

  27. Slide 27: Property Business – Mainland Property Development

    Lake Genève, Suzhou PROPERTY BUSINESS – MAINLAND PROPERTY DEVELOPMENT FY2025 Annual Results

  28. Slide 28: Recognized Property Development on the Mainland

    Recognized Property Development on the Mainland (1) Property Development FY2025 FY2024 Change Revenue (HK$ mn) 8,417 2,677 + 214 % Operating profit (HK$ mn) 5,090 1,337 + 281 %  The increase was mainly due to higher sales volume of residential units  Robust development margins  About RMB8.1 bn(2)

  29. Slide 29: Contracted Sales on the Mainland for FY2025

    Contracted Sales on the Mainland for FY2025  Achieved attributable contracted sales of about RMB4.0 bn(1) on the mainland  Major contributors included Phase 2 of Lake Genève in Suzhou and new batches of residential units at Park Royale and Forest Park in Guangzhou  Over the next 10 months, the Gr

  30. Slide 30: Property Business – Mainland Property Investment

    Nanjing IFC Mall, Nanjing PROPERTY BUSINESS – MAINLAND PROPERTY INVESTMENT FY2025 Annual Results

  31. Slide 31: Rental Income on the Mainland

    Rental Income on the Mainland  Incremental contributions from newly completed projects partially offset the decline in turnover rent of retail portfolio and downward pressure on office rents Gross Rental Income by Sector on the Mainland(1) HK$ mn 7,000 Office 6,575 6,305 6,173 (-2.1% yoy) 28% Retai

  32. Slide 32: Existing Mainland Property Investment – Integrated Projects

    Existing Mainland Property Investment – Integrated Projects  Enjoy complementary benefit within the same complexes and great accessibility to public transportation Retail portfolio:  Demonstrate resilience through unique positioning, proactive and multifaceted approach to increase attractiveness O

  33. Slide 33: Expanding Property Investment Portfolio on the Mainland

    Expanding Property Investment Portfolio on the Mainland Three ITC (100% owned) Tower A office (220-metre-tall) 1.1 mn sq.ft. (completed) Tower B office (370-metre-tall) 2.4 mn sq.ft. ITC Maison (Flagship mall) Over 2.6 mn sq.ft. Andaz Shanghai ITC (Hotel) 0.4 mn sq.ft.  Final stage of construction

  34. Slide 34: Hotel Business

    The Ritz-Carlton Shanghai, Pudong HOTEL BUSINESS FY2025 Annual Results

  35. Slide 35: Hotel Business

    Hotel Business Hotel Operations(1) FY2025 FY2024 Change Revenue (HK$ mn) 5,250 5,261 -0.2% Operating profit (HK$ mn) 615 650 -5.4%  The Group’s hotels in Hong Kong recorded an improvement in room revenue with occupancies remained at high levels in FY2025  Changing spending patterns weighed on the

  36. Slide 36: Sustainability

    GO PARK Sai Sha SUSTAINABILITY FY2025 Annual Results

  37. Slide 37: Sustainability Initiatives

    Sustainability Initiatives ICC earned LEED v5.0 Platinum Certification (Operations and Maintenance: Existing Buildings) • First certified building in Asia The Group’s MSCI • One of the few certified buildings worldwide ESG rating(1) was upgraded to AA, Ko Shan Road Community Living Room • 4,600-squa

  38. Slide 38: Market and Business Prospects

    ICC and IFC, Hong Kong MARKET AND BUSINESS PROSPECTS FY2025 Annual Results

  39. Slide 39: Market Prospects

    Market Prospects  Environment is expected to remain volatile and uncertain Global  Monetary easing policies by major economies and the increased Economy likelihood of US interest rate cut will be conducive for economic growth  Active financial market and growing tourism industry will drive modera

  40. Slide 40: Business Prospects

    Business Prospects  Leverage its solid foundation and extensive experience while adhering to prudent financial discipline as always  Maintain sizeable and stable base of recurring income from diversified rental and non-property businesses:  Adopt proactive leasing approach to strengthen competiti

  41. Slide 41: Embraced Changes and Adapted to Shifting Market Trends

    Embraced Changes and Adapted to Shifting Market Trends In navigating through the current economic transformation, the Group will build on its solid foundation and extensive experience while adhering to prudent financial discipline as always. With strong execution capabilities, the Group’s management

  42. Slide 42: Appendix: Sustainability Performance

    Appendix: Sustainability Performance Green Buildings  The Group aims to attain LEED Gold or Platinum ratings for core commercial projects under development Energy  To reduce the electricity consumption intensity of its EOC-monitored Management buildings(1) by 13% by FY2030, against FY2020 as basel

  43. Slide 43: Appendix: Sustainability Performance (Cont’d)

    Appendix: Sustainability Performance (Cont’d) ISSB IFRS S2 Climate-related Disclosures  Disclosed Scope 3(1) emissions starting from FY2024  Made reference to the ISSB IFRS S2 Climate-related Disclosures and recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) framewor

  44. Slide 44: FY2025 Annual Results

    C3 Sun Hung Kai Properties Building Homes with Heart

Sun Hung Kai Properties — FY2025 Earnings Presentation on 6ix